Todor Pichurov
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Mandalay Resources Corp. (TSE:MND), (OTCMKTS:MNDJF) to Announce Q2 Results This Week

by Todor Pichurov Aug 4, 2014
MND_chart.pngJust 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_logo.jpgMND 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.

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