Just as trading hours ended on Friday, Mandalay Resources Corp. (TSE:MND), (OTCMKTS:MNDJF) published a press release. The company informed that it will be releasing second quarter financial results later this week.[BANNER]
MND will release Q2 performance information this Wednesday, Aug 6, after the markets close. This will be followed by a conference call with CEO Mr. Mills to be hosted on the following morning. Over the previous quarter the company did reasonably well, publishing the following figures, in US dollars:
- $20 million in cash
- $23 million in current liabilities
- $38 million in Q1 revenues
- $5.7 million in Q1 net income, $7.3 million after currency translation adjustments
Those numbers reflect a reasonable pace in the new year, when compared against the overall performance of MND for 2013. The company clocked revenues of $166 million for the last fiscal year and the bottom line was net profit of $29 million.
MND also published a press release on Thursday, informing of a C$5 million advance under the bridge loan to Elgin Mining announced earlier. The loan accumulates interest at the rate of 10% per year and can convert into Elgin common stock if MND so desires, at a price of C$0.157 per share.
In Friday's session MND traded 316 thousand shares, or about half its monthly average, and closed flat, at C$1.16 per share.