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Symbol Data
Symbol
Currency
TSE:MND
CAD
OTCMKTS:MNDJF
USD
Description
Mandalay Resources Corp are a gold focused mid-tier producer with three producing mines in Australia, Chile and Sweden and exploration properties. Currently they produce roughly 100koz. of gold per year. They have approximately 2.5Moz. of gold in the reserves and resources category of which 2Moz. are in the measured and indicated category. They have a market capitalisation of ~$145.61M which is a fall of roughly 40% over the last six months. As of 05/10/2023 they have ~$23M debt and ~$34M cash. They have 92M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.
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General Details
Financial
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
MCap (FD):
$240.82M
$145.61M
12/18/2022
Total Assets:
$330.00M
$330.00M
12/18/2022
Total Liabilities:
$140.00M
$140.00M
12/18/2022
Current Assets:
$120.00M
$120.00M
12/18/2022
Current Liabilities:
$88.00M
$88.00M
12/18/2022
Total Debt:
$0.00M
$23.00M
05/10/2023
Cash:
$42.00M
$34.00M
05/10/2023
Enterprise Value:
$198.82M
$134.61M
04/07/1974
Cash Flow:
$54.16M
$34.47M
never
Cash Flow Multiple:
4.45
4.22
never
Net Debt to Cash Flow Ratio:
n/a
n/a
never
Finance within 1 year:
12/18/2022
Misc
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
Shares Outstanding:
92,000,000
92,000,000
12/18/2022
Shares (FD):
94,000,000
94,000,000
12/18/2022
Insider Ownership:
n/a
n/a
never
Company Type:
Mostly Gold
Mostly Gold
never
Production ETA:
n/a
n/a
12/18/2022
Production (Gold Eq Oz.):
(guess) 110,000
(guess) 100,000
05/10/2023
Production (Silver Eq Oz.) :
(guess) 8,498,448
(guess) 8,285,897
05/10/2023
Initial CapEx (Outstanding):
n/a
n/a
12/18/2022
Funding Option:
n/a
n/a
12/18/2022
Documentation:
none
PRODUCER
05/10/2023
Future MCap Modifier:
0.2Producer: Growth Potential
0.2Producer: Growth Potential
04/24/2023
Cash Flow Multiplier:
5
8
04/17/2023
Resource Data
GOLD
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
O U N C E S
T O T A L
Proven & Probable:
0.80M
0.80M
12/18/2022
Measured & Indicated:
2.00M
2.00M
12/18/2022
Inferred:
0.50M
0.50M
12/18/2022
Reserves & Resources:
2.50M
2.50M
never
P L A U S I B L E
Proven & Probable:
0.72M
0.72M
12/18/2022
Measured & Indicated:
1.58M
1.58M
12/18/2022
Inferred:
0.23M
0.23M
12/18/2022
Reserves & Resources:
1.81M
1.81M
never
C U R R E N T
Annual Production:
(guess) 110,000oz.
(guess) 100,000oz.
05/10/2023
Cash Cost:
$850
$1,100
05/10/2023
Extra Operating Cost:
$450
$500
05/10/2023
Average Grade:
2.00 g/t
2.00 g/t
12/18/2022
Recovery Rate:
(CG) 90.00%
(CG) 90.00%
05/10/2023
F U T U R E
Proven & Probable:
2.00M
2.00M
12/18/2022
Annual Production:
120,000oz.
120,000oz.
12/18/2022
Cash Cost:
$900
$1,100
05/10/2023
Extra Operating Cost:
$450
$500
04/17/2023
SILVER
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
O U N C E S
T O T A L
Proven & Probable:
n/a
n/a
12/18/2022
Measured & Indicated:
n/a
n/a
12/18/2022
Inferred:
n/a
n/a
12/18/2022
Reserves & Resources:
n/a
n/a
never
P L A U S I B L E
Proven & Probable:
n/a
n/a
12/18/2022
Measured & Indicated:
n/a
n/a
12/18/2022
Inferred:
n/a
n/a
12/18/2022
Reserves & Resources:
n/a
n/a
never
C U R R E N T
Annual Production:
n/a
n/a
Cash Cost:
n/a
n/a
12/18/2022
Extra Operating Cost:
n/a
n/a
12/18/2022
Average Grade:
n/a
n/a
12/18/2022
Recovery Rate:
n/a
n/a
12/18/2022
F U T U R E
Proven & Probable:
n/a
n/a
12/18/2022
Annual Production:
n/a
n/a
12/18/2022
Cash Cost:
n/a
n/a
12/18/2022
Extra Operating Cost:
n/a
n/a
12/18/2022
Property
Last Analysis Data (12/18/2022)
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Production
Costerfield, Victoria , Australia
Costerfield / Cuffley
100%
1,300
n/a
show
Low cash costs.
PEA to expand production to Cuffley. 500,000 oz deposit.
Exploration
Nunavut , Canada
Ulu
100%
n/a
n/a
n/a
Production
Coyhaique , Chile
Cerro Bayo
100%
n/a
n/a
show
3 million oz of silver production at low cash costs.
Exploration
La Serena , Chile
La Quebrada
100%
n/a
n/a
show
11 million oz silver deposit.
Becoming an advanced project.
Exploration
Chihuahua , Mexico
La Bufa
0%
n/a
n/a
n/a
Production
Skelleftea , Sweden
Bjorkdal
100%
n/a
n/a
show
45,000 oz production at very high cash costs. They plan to double production by 2016.
Exploration
Skelleftea , Sweden
Bjorkdal Exploration
100%
n/a
n/a
n/a
Exploration
Sweden
Bjorkdale
100% (guess)
n/a
n/a
show
Merger with Elgin Mining in 2014,
1.5 million oz deposit.
50,000 oz per year.
Exploration
Skelleftea , Sweden
Norrliden
90%
n/a
n/a
n/a
Exploration
Imperial Co, Ca , USA
Oro Cruz
0%
n/a
n/a
n/a
Total Land Package Size (ha):
1,300
Current Data
Stage
Location
Name
Owned
Size (Ha)
Type
Au
Ag
Cu
Notes
Production
Costerfield, Victoria , Australia
Costerfield / Cuffley
100%
1,300
n/a
show
Low cash costs.
PEA to expand production to Cuffley. 500,000 oz deposit.
Update -
12/21: P&P 312 Koz gold
2022 AISC: $925 - $1025 AuEq
Exploration
Nunavut , Canada
Ulu
1% (guess)
n/a
n/a
show
Acquired by Blue Star Gold in 2019
Production
Coyhaique , Chile
Cerro Bayo
17%
n/a
n/a
show
3 million oz of silver production at low cash costs.
Sold in December 2021 to Equus Mining for shares of company stock (currently hold 16.87% as of 2023).
Exploration
La Serena , Chile
La Quebrada
100%
n/a
n/a
show
11 million oz silver deposit.
Becoming an advanced project.
2023 Update: Care & Maintenance spending of $100K and options being evaluated.
Exploration
Chihuahua , Mexico
La Bufa
0%
n/a
n/a
n/a
Production
Skelleftea , Sweden
Bjorkdal
100%
n/a
n/a
show
45,000 oz production at very high cash costs. They plan to double production by 2016.
2022 Update: AISC $1325 - $1475; P&P 542Koz gold
Exploration
Skelleftea , Sweden
Bjorkdal Exploration
100%
n/a
n/a
n/a
Exploration
Sweden
Bjorkdale
100% (guess)
n/a
n/a
show
Merger with Elgin Mining in 2014,
1.5 million oz deposit.
50,000 oz per year.
Exploration
Skelleftea , Sweden
Norrliden
90%
n/a
n/a
n/a
Exploration
Imperial Co, Ca , USA
Oro Cruz
0%
n/a
n/a
n/a
Total Land Package Size (ha):
1,300
Profitability (by resource)
Proven & Probable
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
Percentage Gold:
100.00%
100.00%
n/a
Percentage Silver:
n/a
n/a
n/a
Total (Gold Eq. Oz.):
0.80M
0.80M
n/a
Total (Silver Eq. Oz.):
n/a
n/a
n/a
P L A U S I B L E
Gold Eq. Oz.:
0.72M
0.72M
n/a
Silver Eq. Oz.:
n/a
n/a
n/a
Maximum Profit (Gold):
$354.53M
$248.18M
n/a
Maximum Profit (Silver):
n/a
n/a
n/a
Total Maximum Profit:
$354.53M
$248.18M
n/a
Max Profit / Current MCap:
1.472
1.704
n/a
Max Profit Per Share (Gold):
$3.77
$2.64
n/a
Max Profit Per Share (Silver):
n/a
n/a
n/a
Total Max Profit Per Share:
$3.77
$2.64
n/a
Total Free Profit Per Share:
$0.27
$0.56
n/a
FD MCap / Gold Eq.:
$334.47
$202.24
n/a
FD MCap / Silver Eq.:
$4.33
$2.44
n/a
FD MCap / Per Metal as % Spot Price:
18.66%
10.40%
n/a
Measured & Indicated
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
Percentage Gold:
100.00%
100.00%
n/a
Percentage Silver:
n/a
n/a
n/a
Total (Gold Eq. Oz.):
2.00M
2.00M
n/a
Total (Silver Eq. Oz.):
n/a
n/a
n/a
P L A U S I B L E
Gold Eq. Oz.:
1.58M
1.58M
n/a
Silver Eq. Oz.:
n/a
n/a
n/a
Maximum Profit (Gold):
$779.96M
$546.00M
n/a
Maximum Profit (Silver):
n/a
n/a
n/a
Total Maximum Profit:
$779.96M
$546.00M
n/a
Max Profit / Current MCap:
3.239
3.750
n/a
Max Profit Per Share (Gold):
$8.30
$5.81
n/a
Max Profit Per Share (Silver):
n/a
n/a
n/a
Total Max Profit Per Share:
$8.30
$5.81
n/a
Total Free Profit Per Share:
$4.80
$3.73
n/a
FD MCap / Gold Eq.:
$152.03
$91.93
n/a
FD MCap / Silver Eq.:
$1.97
$1.11
n/a
FD MCap / Per Metal as % Spot Price:
8.48%
4.73%
n/a
Reserves & Resources
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
Percentage Gold:
100.00%
100.00%
n/a
Percentage Silver:
n/a
n/a
n/a
Total (Gold Eq. Oz.):
2.50M
2.50M
n/a
Total (Silver Eq. Oz.):
n/a
n/a
n/a
P L A U S I B L E
Gold Eq. Oz.:
1.81M
1.81M
n/a
Silver Eq. Oz.:
n/a
n/a
n/a
Maximum Profit (Gold):
$890.75M
$623.56M
n/a
Maximum Profit (Silver):
n/a
n/a
n/a
Total Maximum Profit:
$890.75M
$623.56M
n/a
Max Profit / Current MCap:
3.699
4.282
n/a
Max Profit Per Share (Gold):
$9.48
$6.63
n/a
Max Profit Per Share (Silver):
n/a
n/a
n/a
Total Max Profit Per Share:
$9.48
$6.63
n/a
Total Free Profit Per Share:
$5.98
$4.55
n/a
FD MCap / Gold Eq.:
$133.12
$80.49
n/a
FD MCap / Silver Eq.:
$1.72
$0.97
n/a
FD MCap / Per Metal as % Spot Price:
7.43%
4.14%
n/a
Future Valuation (Cash Flow & Totals)
Defaults
Defaults
12/18/2022 Last Analysis Data
Current Data
Item
Value
Value
Updated
Exchange Rates:
USD 1.0000
USD 1.0000
06/05/2023
Spot Gold:
$1,792.40
$1,944.70
06/05/2023
Spot Silver:
$23.20
$23.47
06/05/2023
Gold:Silver Ratio:
77.26
82.86
06/05/2023
Spot Gold (Future):
$2,500.00
$3,000.00
Spot Silver (Future):
$100.00
$100.00
Gold:Silver Ratio (Future):
25.00
30.00
Gold Avg. Recovery Rate:
75.00%
75.00%
Silver Avg. Recovery Rate:
75.00%
75.00%
Plausibility of P & P:
100.00%
100.00%
Plausibility of M & I:
80.00%
80.00%
Plausibility of Inferred:
50.00%
50.00%
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