Mandalay Resources


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

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine), Sweden (Björkdal gold mine) and Chile (Cerro Bayo gold-silver mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow.


Debt: 47M

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 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