11:03 AM EST, 02/20/2025 (MT Newswires) -- Mandalay Resources ( MNDJF ) on Thursday announced updated mineral reserves and resources for the Costerfield gold mine in Australia and the Bjorkdal gold mine in Sweden as at Dec. 31.

The company said total mineral reserves increased 9% to 815,000 gold equivalent ounces. Total mineral measured and indicated resources rose 14% to 1.97-million gold equivalent ounces.

"The exploration success at Costerfield and Bjorkdal highlights the exceptional potential of our assets," said Chris Davis, Vice President of Exploration and Operational Geology. "The rapid expansion of the True Blue deposit at Costerfield and the continued resource development at Bjorkdal reinforce our confidence in the future growth of our operations."

The company's shares were last seen down $0.02 to $4.69 on the Toronto Stock Exchange.

Price: 4.70, Change: -0.01, Percent Change: -0.21