Mandalay Resources (TSE:MND) has released an update.
Mandalay Resources Corporation reported a robust start to 2024 with a $47.1 million cash balance, reflecting a notable $20.2 million increase from the previous year’s end, alongside impressive consolidated gold equivalent production of 24,936 ounces. The company is well on its way to achieving its annual production target, with significant production boosts at both Costerfield and Björkdal mines. Despite some operational challenges, the consistent mining rates and focus on improving flexibility in planning suggest a positive outlook for upcoming quarters.
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