Latest news with #MandalayResourcesCorporation
Business Upturn
10 hours ago
- Business
- Business Upturn
Mandalay Announces Receipt of Australian FIRB Approval and Interim Order in connection with its Proposed Merger with Alkane
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) — Mandalay Resources Corporation ('Mandalay' or the 'Company') (TSX: MND, OTCQB: MNDJF) is pleased to announce that approval of the Australian Foreign Investment Review Board ('FIRB') has been obtained in connection with the Company's previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Alkane Resources Limited ('Alkane') has agreed to indirectly acquire all of the issued and outstanding common shares of Mandalay (the 'Transaction'). On June 26, 2025, FIRB provided written confirmation that the Australian Commonwealth Government has no objection to the Transaction. This satisfies the last outstanding regulatory approval required under the arrangement agreement dated April 27, 2025 in connection with the Transaction. In addition, on June 23, 2025, the Supreme Court of British Columbia (the 'Court') granted an interim order in connection with the Transaction, authorizing the calling and holding of the special meeting of Mandalay shareholders (the 'Meeting') to vote on the Transaction and certain other matters related to the conduct of the Meeting. Key Milestones Ahead: The Meeting has been scheduled for July 28, 2025. The management information circular of Mandalay (the ' Circular ') and the related meeting materials have been filed on SEDAR+ and will be mailed to beneficial shareholders on July 7, 2025. ') and the related meeting materials have been filed on SEDAR+ and will be mailed to beneficial shareholders on July 7, 2025. The Transaction remains subject to receipt of the final order from the Court, the approval of Mandalay shareholders and Alkane shareholders, and the satisfaction or waiver of other customary closing conditions. The Transaction is expected to close in early August 2025. The Transaction has been unanimously approved by the board of directors of Mandalay (the 'Board'), and accordingly the Board recommends that shareholders vote in favour of the Transaction at the Meeting. Frazer Bourchier, President, and CEO commented: 'This represents a key milestone in advancing and de-risking the merger. With all regulatory approvals in hand and the Circular filed, we're looking forward to completing the Transaction and forming a new, diversified mid-tier gold and antimony producer. We believe that the enhanced scale and financial strength of the combined company will provide a strong foundation to unlock shareholder value and support a meaningful re-rating.' For Further Information: Frazer Bourchier President and Chief Executive Officer Edison Nguyen Director, Business Valuations and IR Contact: 647.258.9722 About Mandalay Resources Corporation: Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement. Forward-Looking Statements This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively 'Forward-looking Information'). Forward-looking Information may relate to future outlook and anticipated events, such as the consummation and timing of the Transaction. Forward-looking Information is generally identified by the use of words like 'will', 'create', 'enhance', 'improve', 'potential', 'expect', 'upside', 'growth' and similar expressions and phrases or statements that certain actions, events or results 'may', 'could', or 'should', or the negative connotation of such terms, are intended to identify Forward-looking Information. Although Mandalay believes that the expectations reflected in the Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Mandalay as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-looking Information. Forward-looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks related to the closing of the Transaction; risks relating to changes in the gold and antimony price and the factors identified in the section titled 'Risks Related to the Business' in Mandalay's most recently filed Annual Information Form which is available on SEDAR+ at . Forward-looking Information is designed to help readers understand Alkane and Mandalay's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Mandalay assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Mandalay updates any one or more forward-looking statements, no inference should be drawn that either company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this news release is expressly qualified in its entirety by this cautionary statement. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
24-02-2025
- Business
- Yahoo
3 TSX Penny Stocks Under CA$500M Market Cap
As the Canadian TSX index experiences modest growth of around 3% this year, investors are paying close attention to stabilizing yields and moderated inflation rates. For those interested in exploring smaller or newer companies, penny stocks—despite their somewhat outdated name—remain a relevant investment area with potential for hidden value. By focusing on financial strength and growth prospects, these stocks can offer opportunities for significant returns amidst current market conditions. Name Share Price Market Cap Financial Health Rating Mandalay Resources (TSX:MND) CA$4.83 CA$453.58M ★★★★★★ Alvopetro Energy (TSXV:ALV) CA$4.83 CA$176.58M ★★★★★★ Findev (TSXV:FDI) CA$0.52 CA$14.9M ★★★★★★ PetroTal (TSX:TAL) CA$0.69 CA$632.31M ★★★★★★ NamSys (TSXV:CTZ) CA$1.20 CA$32.24M ★★★★★★ East West Petroleum (TSXV:EW) CA$0.045 CA$4.07M ★★★★★★ Foraco International (TSX:FAR) CA$2.00 CA$197.39M ★★★★★☆ New Gold (TSX:NGD) CA$4.02 CA$3.18B ★★★★★☆ Orezone Gold (TSX:ORE) CA$0.90 CA$416.19M ★★★★★☆ Hemisphere Energy (TSXV:HME) CA$1.90 CA$184.47M ★★★★★☆ Click here to see the full list of 934 stocks from our TSX Penny Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: DATA Communications Management Corp. offers solutions to streamline complex marketing and communication workflows mainly in the United States and Canada, with a market cap of CA$121.13 million. Operations: The company generates revenue primarily through its Printing & Publishing segment, which accounts for CA$493.70 million. Market Cap: CA$121.13M DATA Communications Management Corp. is navigating its financial challenges with strategic moves, including a newly initiated quarterly dividend program and a special cash dividend of CA$0.20 per share. Despite being unprofitable, the company has improved its financial position over the past five years by transitioning from negative to positive shareholder equity. It trades at a significant discount to estimated fair value and has sufficient cash runway for more than three years due to positive free cash flow growth. However, it faces high net debt levels and long-term liabilities exceeding short-term assets, posing potential risks for investors. Take a closer look at DATA Communications Management's potential here in our financial health report. Review our growth performance report to gain insights into DATA Communications Management's future. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Mandalay Resources Corporation, along with its subsidiaries, focuses on the acquisition, exploration, extraction, processing, and reclamation of mineral properties across Australia, Sweden, Chile, and Canada with a market capitalization of CA$453.58 million. Operations: Mandalay Resources Corporation does not report specific revenue segments. Market Cap: CA$453.58M Mandalay Resources Corporation has demonstrated strong financial performance, with earnings growing by a substantial 507.6% over the past year and net profit margins rising to 19.8%. The company reported significant revenue growth, with sales reaching US$240.66 million for 2024, up from US$173.34 million the previous year. Despite a relatively new management team with an average tenure of 1.8 years, Mandalay's strategic focus on exploration and resource expansion is evident through promising drill results at its True Blue prospect in Australia and successful discoveries at its Björkdal operation in Sweden. Additionally, Mandalay trades at a favorable value compared to industry peers while maintaining robust coverage of debt by operating cash flow and interest payments by EBIT. Click to explore a detailed breakdown of our findings in Mandalay Resources' financial health report. Examine Mandalay Resources' earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Supremex Inc. is a manufacturer and marketer of envelopes, paper-based packaging solutions, and specialty products operating in Canada and the United States with a market cap of CA$99.47 million. Operations: Supremex Inc. does not report specific revenue segments. Market Cap: CA$99.47M Supremex Inc. faces challenges with recent financial performance, reporting a net loss of CA$11.74 million for 2024, contrasting with a previous year's profit. Despite this, the company maintains a strong liquidity position as short-term assets exceed liabilities and debt is well-covered by operating cash flow. The stock trades at an attractive valuation below its estimated fair value and offers a dividend yield of 3.95%, though not fully covered by earnings due to unprofitability. Supremex's management team is experienced, contributing to stable operations despite the lack of profitability in recent years and increased losses over five years. Jump into the full analysis health report here for a deeper understanding of Supremex. Assess Supremex's future earnings estimates with our detailed growth reports. Access the full spectrum of 934 TSX Penny Stocks by clicking on this link. Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Jump on the AI train with fast growing tech companies forging a new era of innovation. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:DCM TSX:MND and TSX:SXP. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
