- Mandalay Resources (TSX:MND) released its production and sales results for Q2 and first half of 2025
- Total sales for the first half of the year amounted to 42,208 ounces of gold and 279 tonnes of antimony, representing 47,026 gold equivalent ounces (GEOs)
- In that time, the company produced 39,704 ounces of gold and 298 tonnes of antimony, totalling 44,896 GEOs
- Mandalay Resources stock (TSX:MND) last traded at C$4.54
Mandalay Resources (TSX:MND) released its production and sales results for Q2 and first half of 2025.
This content has been prepared as part of a partnership with Mandalay Resources Corp. and is intended for informational purposes only.
Q2 2025 highlights
- The company produced 19,328 ounces of gold and 137 tonnes of antimony, totaling 22,554 gold equivalent ounces (GEOs). This marks a decrease from 26,372 GEOs in Q2 2024.
- Production at the Björkdal mine reached 11,183 ounces of gold, down from 12,599 ounces in the same period last year.
- The Costerfield operation produced 8,145 ounces of gold and 137 tonnes of antimony, compared to 11,027 ounces of gold and 359 tonnes of antimony in Q2 2024.
Sales for the quarter
- Mandalay sold 18,822 ounces of gold and 83 tonnes of antimony, totaling 21,247 GEOs, a decline from 26,759 GEOs sold in Q2 2024.
- Sales from Björkdal totaled 11,460 ounces of gold, while Costerfield contributed 7,362 ounces of gold and 83 tonnes of antimony.
First half 2025 summary
- For the six months ended June 30, 2025, the company produced 39,704 ounces of gold and 298 tonnes of antimony, totalling 44,896 GEOs, compared to 51,308 GEOs in the first half of 2024.
- Björkdal contributed 22,010 ounces of gold, while Costerfield produced 17,694 ounces of gold and 298 tonnes of antimony.
Sales for the first half
- Total sales amounted to 42,208 ounces of gold and 279 tonnes of antimony, representing 47,026 GEOs, down from 52,036 GEOs in the first half of 2024.
- Björkdal sold 23,501 ounces of gold, and Costerfield sold 18,707 ounces of gold and 279 tonnes of antimony.
Leadership insights
“With $101 million in cash and no debt, Mandalay brings a strong financial position and operational performance to the pending Alkane merger, which is expected to close in early August. The combined company will be nearly double the size of Mandalay and will be well positioned for a potential valuation re-rate. In addition, the 22,554 gold equivalent ounces produced in Q2 keeps Mandalay on track to achieve full-year production guidance of 85,000 – 95,000 gold equivalent ounces,” Frazer Bourchier, Mandalay’s president and CEO, explained in a news release. “Q2 was, as expected as a high cash expenditure quarter with its annual tax reconciliation payment of $7 million and final expenditures of $4 million for the completion of the tails dam build at Costerfield. We were pleased to complete a major milestone with the successful commissioning of this new seven-year capacity tailings storage facility, which opens the potential to again add mine life via exploration and unlock value beyond its current mineral reserves.
About Mandaly Resources
Mandalay Resources Corp. is a Canadian natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Bjorkdal gold mine).
Mandalay Resources stock (TSX:MND) last traded at C$4.54 and has risen 15.23 per cent since the year began and 78.04 per cent since this time last year.
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