Mandalay Resources (OTC:MNDJF) has been one of the strongest performers among precious metal miners, as the following chart of Mandalay shares in terms of the Market Vectors Junior Gold Miner ETF illustrates.
Mandalay has several things going for it:
- $21 million in cash, and $41 million in working capital with no debt. Note that I base these figures on Sept. 30 figures while I also include the cash drain from the recent Challacollo deal.
- Rising production at both of its mines, but at its Costerfield mine in particular.
- Low production costs.
- A proven track record of resource growth and replacement.
- One of the highest dividend yields in the industry at >4%.
- The shares trade
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