Mandalay Resources Corp. reported production and sales results for the fourth quarter and full year ended December 31, 2015. For the quarter the company produced a total of 28,948 oz Au, 937 tonnes t Sb and 725,243 oz Ag, representing a total of 43,393 Au Eq oz versus 39,021 Au Eq oz produced in the same period of 2014. Production at Costerfield (Australia) was 11,582 oz Au (a record) and 937 t Sb, against 11,126 oz Au and 926 t Sb in the fourth quarter of 2014. Production at Cerro Bayo (Chile) was 6,901 oz Au and 725,243 oz Ag, against 9,052 oz Au and 1,021,189 oz Ag produced in the same quarter of 2014. Production at Björkdal (Sweden) was 10,465 oz Au, against 11,458 oz Au produced in the fourth quarter of 2014.

For the year, the company produced a record total of 109,102 oz Au, record Sb production of 3,712 t and 2,545,984 oz Ag for the full year, representing a new record total of 166,679 Au Eq. oz. Production at Costerfield was a record 42,491 oz Au and 3,712 t Sb, versus 35,751 oz Au and 3,639 t Sb produced in 2014. Production at Cerro Bayo was 22,572 oz Au and 2,545,984 oz Ag in 2015, lower than the year-ago volumes of 27,600 oz Au and 3,329,519 oz Ag. Production at Björkdal was 44,039 oz Au.

For the quarter, the company sold 26,641 oz Au, 967 t Sb, and 623,184 oz Ag, representing a total of 39,877 oz Au Eq. Costerfield sold 11,402 oz Au and 967 t Sb. Cerro Bayo sold 5,854 oz Au and 623,184 oz Ag. Björkdal sold 9,385 oz Au.

For the year, the company sold 107,998 oz Au, 3,563 t Sb, and 2,778,836 oz Ag, representing a total of 167,808 oz Au Eq. Costerfield sold 40,686 oz Au and 3,563 t Sb. Cerro Bayo sold 24,489 oz Au and 2,778,836 oz Ag. Björkdal sold 42,823 oz Au.

For the full year of 2016, the company expects total saleable Ag production in the range of 2.9 oz million to 3.3 oz million. Total saleable Au production is expected to be in the range of 100,000 oz to 115,000 oz. Total saleable Sb production is expected to be in the range of 3.0 t to 3.5 t. Total saleable Au Eq production is expected to be in the range of 165,000 oz to 180,000 oz. Capital expenditure is expected to be in the range of USD 31 million to USD 37 million.