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

MND_chart.pngJust as trading hours ended on Friday, Mandalay Resources Corp. (TSE:MND), (OTCMKTS:MNDJF”>MNDJF) published a press release. The company informed that it will be releasing second quarter financial results later this week.

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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