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Mandalay to raise C$60m to address liquidity issues

Mandalay Resources (TSX: MND) plans to raise about C$60 million (US$45 million) to address short-term liquidity needs following “a number of unforeseen operational and financial developments” since September 30.

Mandalay to raise C$60m to address liquidity issues Mandalay to raise C$60m to address liquidity issues Mandalay to raise C$60m to address liquidity issues Mandalay to raise C$60m to address liquidity issues Mandalay to raise C$60m to address liquidity issues

A bottleneck at Björkdal was part of the problem

It also said it was "currently generating negative cash flow from operations", namely its Costerfield mine in Australia and Björkdal in Sweden.