Mandalay Resources (MNDJF)

Thursday

8:47 AM

ThesisMandalay Resources: the story is balanced — Gold spot prices (COMEX) - primary revenue driver affecting 80%+ of sales

Revenue Outlook

Metric	FY2024	FY2025E	FY2026E
Revenue	$241M	$276M	$315M
Rev. Growth	+38.8%	+14.9%	+13.8%
EPS	$0.51	$0.71	$1.20
EPS Growth	+538%	+40.2%	+67.8%
P/E (fwd)	7.7×	5.5×	3.3×

★ Analysts see FY2025 revenue reaching $276M — +14.9% growth in a single year.

01Gold spot prices (COMEX) - primary revenue driver affecting 80%+ of sales
02Antimony prices and supply dynamics - China export restrictions and defense demand create volatility
03Quarterly production volumes and AISC guidance at Björkdal and Costerfield
04Exploration results and reserve/resource updates extending mine life
05USD strength (inverse correlation) - weakening dollar typically boosts gold prices
06Geopolitical risk and safe-haven demand for precious metals
07Gold production from Björkdal mine (Sweden) - estimated 50-60% of revenue
08Gold and antimony production from Costerfield mine (Australia) - estimated 40-50% of revenue

FY2024 Snapshot

value/momentum hybrid - The 84.1% one-year return and 537.5% EPS growth attract momentum traders…
High inverse sensitivity to real interest rates.
Watch on earnings: COMEX gold futures spot price and forward curve contango/backwardation, Antimony oxide prices (European and Chinese markets) - track supply disruptions, US Dollar Index (DXY) - inverse correlation to gold prices.

Mandalay Resources: the story is balanced — gold spot prices (comex) - primary revenue driver affecting 80%+ of sales.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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