Mandalay Resources Corporation's Cerro Bayo Mine Gives Notice of Force Majeure
30.6.2017 13:30 | NASDAQ OMX
TORONTO, June 30, 2017 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" of the "Company") (TSX:MND) announced today that Compañia Minera Cerro Bayo, a subsidiary of the Company, has commenced giving notice of force majeure to the primary customers, suppliers and contractors of its Cerro Bayo mine. This notice suspends Cerro Bayo's obligations under contracts with these parties due to the flooding of the Delia NW mine on June 9, 2017. Mandalay is also initiating consultations with its unions about the potential impacts on employees during this period of suspended production.
Mandalay has initiated an independent technical investigation into the flooding of the Delia NW mine, as well as risk assessments for restarting operations of the Coyita, Delia SE, Marcela and Raul mines, which form the basis for Cerro Bayo's current life of mine plan. The Company is reviewing several alternatives for the future of mining at Cerro Bayo and is consulting with all stakeholders in this review process, including employees, unions, and government officials. The Company expects to be in a position to provide a more detailed update on its plans for Cerro Bayo and the impact of the suspension of operations on the Company's 2017 production guidance in conjunction with its disclosure of second quarter 2017 financial results, which is currently expected to occur after market close on August 10, 2017.
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with producing assets 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.
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the Company's production of gold, silver and antimony for the 2017 fiscal year. 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. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. 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
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
Följ NASDAQ OMX
Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.
Senaste nyheterna från NASDAQ OMX
Gaining Momentum: Vricon Hires Barry Tilton as CTO and VP of Engineering21.7.2017 15:21 | Pressmeddelande
McLean, Virginia, July 20, 2017 (GLOBE NEWSWIRE) -- Vricon, a global leader in 3D imagery, is pleased to announce the addition of Barry Tilton, who will join Vricon Systems LLC as the Vice President of Engineering and CTO for U.S. Government Programs. Vricon's mission is to build The Globe in 3D by producing photorealistic 3D products and digital elevation models with unmatched coverage and delivery timelines. Tilton will spearhead efforts to create new content and improve response times and product quality for Vricon's customers. Tilton brings a unique and extensive background in the Defense and Intelligence communities, having worked in remote sensing systems design and user support for a range of customers, to include the Air Force Space program, the National Geospatial-Intelligence Agency, the National Reconnaissance Office, the Office of the Director of Intelligence, and the Under Secretary of Defense for Intelligence. Tilton also has experience in international technic
REG Celebrates Completion of Upgrade Project at Emden Biorefinery20.7.2017 19:46 | Pressmeddelande
EMDEN, Germany, July 20, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ:REGI) marked the completion of upgrades at its Emden, Germany biorefinery Wednesday with a ribbon cutting ceremony with government and community members. REG invested 2.5 million € for the installation of a new biodiesel distillation column and a thermal oil heater. "This investment is another milestone in REG's European strategy to be a leader in delivering high quality biofuels," said Jean Scemama, Vice President, REG Energy Europe. "Within this strategy, Emden is positioned to perform well with deep water access to receive and deliver products by vessel and can now meet or exceed the highest quality standards required by our customers." "This project is a result of teamwork across REG's teams in Europe and the U.S." said Brad Albin, Vice President, Manufacturing. "Upgrading Emden's distillation capability enables us to more effe
Constellation Brands Elects Susan Somersille Johnson of SunTrust Banks, Inc. to its Board of Directors20.7.2017 15:38 | Pressmeddelande
VICTOR, N.Y., July 20, 2017 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, announced today that its board of directors increased the size of the board from 10 to 11 members. In addition, the board elected Susan Somersille Johnson, corporate executive vice president and chief marketing officer of SunTrust Banks, Inc., to serve as a member of the board, effective as of the close of business on July 18, 2017. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dfad4ec0-c876-49e9-9ff4-bc9f803b7cb1 "We're pleased to welcome Susan to the board of directors," said Constellation's Chairman of the Board Richard Sands. "Susan's deep understanding of brand strategy and marketing, as well as her passion for technology, will make a great addition to Constellation as we continue to build on the existing strengths of our board and the compan
Appian Extends its Capabilities with a New Robotic Digital Workforce Offering20.7.2017 15:00 | Pressmeddelande
Appian RPA with Blue Prism Brings Together Leading Business Process Management, Low-Code Application Development, and Robotic Process Automation (RPA) RESTON, Va., July 20, 2017 (GLOBE NEWSWIRE) -- Appian, (NASDAQ:APPN), a leading global provider of low-code application development and BPM software, today announced the addition of Blue Prism's industry leading Robotic Process Automation (RPA) capabilities to its platform. The new product offering, Appian RPA with Blue Prism, brings together leading low-code application development, BPM, and robotic workforce software for the first time as an offering from a single vendor. This offering builds on an already well-established partnership while giving organizations a one-stop-shop for all their enterprise automation needs, especially those that require the highest levels of auditing, security and scalability. "Appian's platform is now extended with robotic process automation from Blue Prism," said Matt
Jennifer Powers to join Global Infrastructure Partners as a Partner and Chair of GIP's Credit Business19.7.2017 18:16 | Pressmeddelande
For Immediate Release New York, July 19, 2017 (GLOBE NEWSWIRE) -- Global Infrastructure Partners (GIP), the leading, independent global infrastructure investment firm, announced today that Jennifer Powers will join GIP in September as a Partner and Chair of GIP's Credit Business. Ms. Powers will work closely with GIP Partner Jon Bram and GIP CAPS Fund Managing Partners Reiner Boehning and Steve Cheng to build out and expand GIP's Credit Business into a market leader in providing financing for infrastructure assets and projects. Ms. Powers joins GIP from Mizuho Bank where she was co-head of Investment Grade Debt Capital Markets. Prior to Mizuho, she was a founding member of the Royal Bank of Scotland's Credit Markets Business. Ms. Powers also spent 12 years in the energy investment banking and capital markets departments of Credit Suisse. Ms. Powers has extensive experience in advising and financing clients in the energy and infr
Solar Street Lights Illuminate Bujumbura, Burundi19.7.2017 16:10 | Pressmeddelande
Solar Pioneer Gigawatt Global Expands its Green Energy Offerings in Africa "By expanding our investments from commercial scale projects to include off-grid additionally, we are positively impacting the lives of millions of people in Burundi and throughout Africa" - Yosef I. Abramowitz, CEO, Gigawatt Global BUJUMBURA, Burundi, July 19, 2017 (GLOBE NEWSWIRE) -- Downtown Bujumbura just got a little brighter, thanks to an innovative partnership between Mayor Freddy MBONIMPA and Gigawatt Global (http://GigawattGlobal.com), a founding member of United States Power Africa's Beyond the Grid program. [Access multimedia content here: http://APO.af/ePScuQ/ http://APO.af/xxruhc/ http://APO.af/gdfypU/ http://APO.af/Xpw3uh ] This week solar-powered 'light islands' began appearing in the heavily-trafficked central bus station and
I vårt nyhetsrum kan du läsa de senaste nyheterna, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt nyhetsrum