BRIEF-Mandalay Resources announces C$35 million treasury offering

Tue Jul 5, 2016 7:58am EDT
 
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July 5 (Reuters) - Mandalay Resources Corp

* Net proceeds of offering will be used for metallurgical improvement projects at Bjorkdal and Cerro Bayo

* Says reaffirming 2016 production guidance of 100,000 - 115,000 ounces of gold, 3,000 - 3,500 tonnes of antimony

* Net proceeds of offering will also be used for increased exploration activities across all company's mines

* Mandalay resources corporation announces c$35 million treasury offering

* Underwriter has agreed to buy on a bought deal basis 30.4 million common shares at a price of c$1.15 per common share

* Reaffirming its previously issued company-wide 2016 production and cash cost guidance of 2.9 - 3.3 million ounces of silver Source text for Eikon: Further company coverage: )