JV Video: Mandalay Resources seeks to become a mid-tier gold producer

Mandalay Resources (TSX: MND) has a three-pronged strategy to expand into a mid-tier gold producer, Edison Nguyen, director of business evaluations and investor relations, says in a new video.

Toronto-based Mandalay has used revenue from its Bjorkdal gold mine in Sweden and Costerfield gold and antimony mine in Australia to accumulate $55 million in cash from $60 million in debt last year, Nguyen said.

It’s also exploring on and near the sites to expand operations producing about 90,000 gold-equivalent oz per year. The strategy’s third prong is mergers and acquisitions, he told The Northern Miner’s International Metals Symposium in London Dec. 1-2.

“We’ll look at asset purchases or talk to like-minded companies that feel they are as equally undervalued as us and then merge and grow by scale that way,” he said. “We won’t diverge too far from our core competencies.”

Watch the full presentation:

JV Videos are paid-for content in arrangement with The Northern Miner.