A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
0.28
(0.04)
Adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are non-IFRS measures, defined at the end of this press release Non-IFRS Measures .
In the first quarter of 2021, Mandalay generated consolidated revenue of $52.6 million, 26% higher than in the first quarter of 2020. This increase is attributable to Mandalay selling 5,437 more gold equivalent ounces combined with higher realized price in the first quarter of 2021 compared to the first quarter of 2020. The Company s realized gold price in the first quarter of 2021 increased by 2% compared to the first quarter of 2020, and the realized price of antimony increased by 50%.
Consolidated cash cost per ounce of $883 increased by 4% in the first quarter of 2021 compared to the first quarter of 2020, mainly due to higher mining costs and foreign exchange movements. Cost of sales during the first quarter of 2021 versus the first quarter of 2020 were $3.8 million higher at Costerfield a
Mandalay Resources Corporation Announces Financial Results for the First Quarter of 2021
TORONTO, May 12, 2021 (GLOBE NEWSWIRE) Mandalay Resources Corporation ( Mandalay or the Company ) (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the quarter March 31, 2021.
The Company’s condensed and consolidated interim financial results for the quarter ended March 31, 2021, together with its Management’s Discussion and Analysis (“MD&A”) for the corresponding period, can be accessed under the Company’s profile on www.sedar.com and on the Company’s website at www.mandalayresources.com. All currency references in this press release are in U.S. dollars except as otherwise indicated.
Mandalay Resources Corporation: Mandalay Resources Provides Target Release Date for First Quarter 2021 Financial Results and Conference Call
13719805
A replay of the conference call will be available until 11:59 PM (Toronto time), May 27, 2021, and can be accessed using the following dial-in number:
Encore Toll Free Dial-in Number:
(877) 660-6853
Edison Nguyen
Contact:
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under care and maintenance or development statuses. The Company is focused on growing its production and reducing costs to generate significant positive cashflow.
Edison Nguyen
Contact:
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under care and maintenance or development statuses. The Company is focused on growing its production and reducing costs to generate significant positive cashflow.
Mandalay s mission is to create shareholder value through the profitable operation of both its Costerfield and Björkdal mines. Currently, the Company s main objective is to continue mining the high-grade Youle vein at Costerfield, which continues to supply high-grade ore, and also focus on extending Youle s Mineral Reserves at depth. At Björkdal, the Company will aim to increase production from the Aurora zone in the coming years to maximize profit margins from the mine.