Mandalay Resources


Primary ticker: TSX:MND
Stage of development: Exploration, Production
Primary minerals: Gold, Antimony
Project to promote: Costerfield and Bjorkdal
Project location: Australia, Sweden

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.


Cash: USD$48M
Debt: USD$41M


Major shareholders:
CE Mining – 25%
GMT Capital – 20%
Ruffer LP – 19%
AzValor – 12%

Management Profile

Dominic Duff, President and CEO

Mr. Duffy holds a B.Eng in Mining Engineering from the University of New South Wales (Sydney, Australia). He has extensive technical and operational management experience, having worked at numerous operations throughout Australia and Latin America. Prior to joining Mandalay Resources, Mr. Duffy most recently worked for Coeur d’Alene Mines and Hecla Mining Company in South America.

What is your rationale for taking part in 121 Mining Investment?

Find equity investors

On the market support 

What recent news would you like to highlight to investors attending?

Q1 Financials – net debt free

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

short mine life at Costerfield – large exploration budget in 2021

What do you think makes your company such a compelling investment?

Exploration upside at Costerfield and Bjorkdal

What are the top 3 key investor takeaways?

Undervalued, large exploration upside, producer and generating strong free cash flow