NASDAQ OMX

Mandalay Resources Corporation Moves to Care and Maintenance at its Cerro Bayo (Chile) Mine

Dela

TORONTO, Sept. 29, 2017 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:MND), announced today that it is moving to care and maintenance status at its Cerro Bayo operations effective today.  Mine production there has been suspended since the June 9, 2017 inundation of the Delia NW mine.

In the transition to care and maintenance, the workforce is being substantially reduced in order to preserve the Company's financial capacity to invest in restarting operations once it is confident that this can be accomplished safely and all permits are obtained.

Continuing employees will be engaged in:

  • ongoing care and maintenance of the mine, plant, and infrastructure for restart at short notice and low cost;
  • supporting completion of the third party investigation and risk assessment for safely resuming underground mining in the Laguna Verde area, which contains more than 70% of the current reserves;
  • obtaining all permits necessary to mine the current reserves; and
  • drilling the highest priority exploration targets for additional reserves.

The technical investigation and risk assessment to support safe future mining in the Laguna Verde area will be completed in the fourth quarter of 2017. These studies are necessary to ensure Mandalay, its employees, and the Chilean regulators that the Company can operate safely around Laguna Verde.

Mark Sander, President and CEO of Mandalay Resources, commented, "The Company wishes to express its gratitude to its employees, suppliers, and Chilean authorities for their support since the inundation. 

"We are committed to safe mining at Cerro Bayo and delivering the value this operation can create for employees through well-paid jobs; for the community through the purchase of goods and services from local businesses; for Chilean local and national governments through the payment of taxes on future operations; and for our shareholders. While we regret the impact this situation has on our employees and the community, in order to deliver this future value, we must take steps now to ensure we have the financial capacity to invest in the restart once all permits are received."

Dr. Sander concluded, "We look forward to working with the various Chilean governmental agencies to expeditiously complete all of the life of mine permits incorporating the recommendations of the technical studies."

About Mandalay Resources Corporation:

Mandalay Resources is a Canadian-based natural resource company with operations in Australia, Chile, and Sweden, and a development project in Chile. The Company is focused on executing a roll-up strategy, creating critical mass by aggregating advanced or in-production gold, copper, silver and antimony projects in Australia, the Americas, and Europe to generate near-term cash flow and shareholder value.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading "Risk Factors" in Mandalay's annual information form dated March 31, 2017, a copy of which is available under Mandalay's profile at www.sedar.com. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For Further Information:

Mark Sander  
President and Chief Executive Officer 

Greg DiTomaso
Director of Investor Relations

Contact: +1.647.260.1566




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corporation via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

JDS Development Group Secures $137 Million Construction Financing From Madison Realty Capital for Distinctive Miami Beach Condominium Monad Terrace25.4.2018 00:43Pressmeddelande

New York-based Madison Realty Capital Provides Final Funding for Pritzker Prize-Winner Jean Nouvel's First Built Work in Miami MIAMI , April 24, 2018 (GLOBE NEWSWIRE) -- New York-based Madison Realty Capital has provided a $137 million construction loan to New York-based JDS Development Group for Monad Terrace. The deal indicates conviction in the development team, the high-design product by Pritzker Prize-winning architect Jean Nouvel and the South Beach market's extremely limited new development inventory and viability. The financing will fully capitalize the project, which features 59 individually-designed waterfront residences. "This is a unique assemblage of land within a prime waterfront residential enclave in South Beach, Miami and we are excited to close another transaction with an esteemed developer like Michael Stern," said Josh Zegen, Co-Founder and Managing Principal of MRC. "In addition, there's virtually no new development product coming out of the ground in South Beach r

Williams Scotsman to Announce First Quarter 2018 Results on May 3, 201824.4.2018 21:59Pressmeddelande

BALTIMORE, April 24, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (NASDAQ:WSC) ("Williams Scotsman") today announced that it will release its first quarter 2018 financial results on Thursday, May 3, 2018, after the markets close. President and Chief Executive Officer Bradley Soultz, and Chief Financial Officer Timothy Boswell will host a conference call and webcast on Friday, May 4, 2018, at 10:00 a.m. EDT to discuss the results for the first quarter. The live call can be accessed by dialing (855) 312-9420 (U.S./Canada toll-free) or (210) 874-7774 (international). A live webcast will also be accessible via the "Events & Presentations" section of the Company's Investor Relations website https://investors.willscot.com. An archived version of the webcast will be available for 60 days following the call. About WillScot Corporation Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Can

Nasdaq Announces Results from 2018 Annual Meeting of Stockholders24.4.2018 20:00Pressmeddelande

Jacob Wallenberg, New Director, Elected to the Board and Nine Directors Re-elected Nasdaq Board Re-elects Michael R. Splinter as Chairman of the Board NEW YORK, April 24, 2018 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq:NDAQ) stockholders today elected all nominated directors at the company's Annual Meeting of Stockholders. All directors will serve one-year terms. Elected board members include: Melissa M. Arnoldi, President of Technology & Operations, AT&T Communications Charlene T. Begley, Retired SVP & CIO, General Electric Company Steven D. Black, Co-CEO, Bregal Investments Adena T. Friedman, President and CEO, Nasdaq Essa Kazim, Governor, Dubai International Financial Center and Chairman, Borse Dubai and Dubai Financial Market Thomas A. Kloet, Retired CEO & Executive Director, TMX Group Limited John D. Rainey, CFO and EVP of Global Customer Operations, PayPal Holdings, Inc. Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc. Jacob Wallenberg, Chairman, Investor AB L

Inspiration Updates Proposed Acquisition of Compassion Cannabis24.4.2018 17:00Pressmeddelande

TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Inspiration Mining Corporation (CSE:ISM) (the "Corporation") is pleased to announce that its ongoing negotiations with Compassion Cannabis Corp ("Compassion") and the related due diligence is going very well and ahead of the targeted date. The Corporation has commenced discussions pertaining to the terms and conditions of a proposed share exchange agreement and the resulting structure of the Corporation's board of directors. Compassion is a private Ontario company which has expertise to forward various facets of the explosive new market of the marijuana industry, including but not limited to the "Vape" market and dispensary centers for the industry. The Corporation believes that this is an extremely lucrative space with tremendous demand in the medical cannabis industry. The cannabis market is growing exponentially every day with new and exciting innovations in the industry. Compassion has narrowed down its possible research and development l

Barings Supports Liberty Hall on Refinancing of AIM Aerospace24.4.2018 16:00Pressmeddelande

CHARLOTTE, N.C., April 24, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world's leading financial services firms, announced today that it served as the sole agent and lead arranger on first lien senior credit facilities to support Liberty Hall Capital Partners' refinancing of the existing debt of its portfolio company, AIM Aerospace. AIM Aerospace, based in Renton, Washington, is a leading designer and producer of advanced composite structures, systems, engine components and thermoplastic technology for the global aerospace industry. The company supplies thermoset and thermoplastic composite solutions to Tier 1 aero-structure and aero-equipment suppliers and to aircraft original equipment manufacturers (OEMs). "Liberty Hall appreciates the partner-like approach that Barings brought to support our investment in AIM Aerospace," said Rowan Taylor, Liberty Hall's founding Partner. "Barings' creativity in structuring, ability to move quickly and speak for the entire facility helped expedite

Appian Announces Strategic Technology Alliance with Genesys24.4.2018 15:04Pressmeddelande

Companies align development, marketing, and sales to deliver intelligent case management for contact center excellence RESTON, Va., April 24, 2018 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announced a strategic technology alliance with Genesys®, the global leader in omnichannel customer experience and contact center solutions. The partnership will benefit organizations seeking next-generation customer engagement solutions that integrate the case management, intelligent automation, and low-code application development capabilities of Appian with the Genesys Customer Experience Platform. "Over the last several years, Serco has used Appian technology, alongside Genesys, to deliver contact solutions to its Federal customers, having processed tens of millions of cases across thousands of contact center agents through our systems. We are excited to hear about the tighter technology partnership between Appian and Genesys as it opens up the possibility to deliver more efficient solutions

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum