From GlobeNewswire: 2025-04-11 07:30:00

Mandalay Resources Corporation announces solid first quarter production results for the quarter ended March 31, 2025, with highlights including a consolidated gold equivalent production of 22,342 ounces. Costerfield produced 9,549 gold ounces and 161 tonnes of antimony, while Björkdal produced 10,827 gold ounces. The Company remains on track to meet annual production guidance of 85,000 – 95,000 gold equivalent ounces.

President and CEO Frazer Bourchier commented on Mandalay’s first-quarter results, highlighting consistent operational execution and the expectation of increased production rates in the second half of the year. COO Ryan Austerberry also expressed satisfaction with operational performance at both sites, with key indicators aligning with expectations and improvement initiatives providing positive results.

For the quarter ended March 31, 2025, Mandalay Resources Corporation produced a total of 20,376 ounces of gold and 161 tonnes of antimony, equivalent to 22,342 gold equivalent ounces. Production at Björkdal was 10,827 ounces of gold, while Costerfield produced 9,549 ounces of gold and 161 tonnes of antimony.

The Company sold a total of 23,386 ounces of gold and 196 tonnes of antimony for a total of 25,779 gold equivalent ounces in the first quarter of 2025. Björkdal sold 12,041 ounces of gold, and Costerfield sold 11,345 ounces of gold and 196 tonnes of antimony.

Mandalay Resources Corporation is a Canadian-based natural resource company with producing assets in Australia and Sweden. The Company is focused on growing production, reducing costs, and operating safely and responsibly. Their mission is to create shareholder value through profitable operations and regional exploration programs at their Costerfield and Björkdal mines.



Read more at GlobeNewswire:: Mandalay Resources Reports Q1 2025 Gold and Antimony