Key Developments: Mandalay Resources Corp (MND.TO)

MND.TO on Toronto Stock Exchange

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19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Mandalay Resources Corp declares quarterly dividend
Thursday, 6 Nov 2014 08:10pm EST 

Mandalay Resources Corp:Says that it has declared a quarterly dividend of $2,080,565 (6 pct. of the trailing quarter's gross revenue), or $0.0051 per share (C$ 0.0058 per share).Says payable on Nov. 27, 2014, to shareholders of record as of Nov. 17, 2014.  Full Article

Mandalay Resources completes acquisition of Elgin Mining
Wednesday, 10 Sep 2014 03:25pm EDT 

Mandalay Resources Corp:Says the company and Elgin Mining Inc (Elgin) announces the completion of the acquisition of Elgin by Mandalay by way of a court-approved plan of arrangement (the Arrangement).Pursuant to the Arrangement, Mandalay acquired each outstanding Elgin common share (each, an Elgin Share) in exchange for C$0.37 in cash (the Cash Consideration) or 0.4111 of a Mandalay common share.Subject to pro-ration if the aggregate Cash Consideration would exceed C$27 million or the aggregate Share Consideration would exceed 50 million Mandalay Shares.  Full Article

Mandalay Resources Corp and West Face Capital Inc. announce closing of secondary offering
Tuesday, 9 Sep 2014 08:26am EDT 

Mandalay Resources Corp:Company and fund advised by West Face Capital Inc. announced closing of previously announced secondary offering by West Face of 40,000,000 common shares of company.Says offering at price of $1.10 per common share.Underwriter also exercised its over-allotment option in full, resulting in purchase of an additional 6,000,000 common shares at offering price and thereby increasing aggregate gross proceeds to West Face to $50,600,000.West Face now holds 90,987,938 Common Shares, representing about 26.6 pct of outstanding common shares.  Full Article

Mandalay Resources Corp and West Face Capital Inc announce C$44 mln secondary offering
Thursday, 14 Aug 2014 04:06pm EDT 

Mandalay Resources Corp:Announced that West Face has entered into an agreement with BMO Capital Markets (the Underwriter) and the Company to complete a secondary offering, on a bought deal basis.Under which BMO Capital Markets has agreed to purchase 40,000,000 common shares of the Company (the Common Shares) held by West Face at a purchase price of C$1.10 per Common Share for gross proceeds of C$44,000,000.West Face has granted the Underwriter an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 6,000,000 Common Shares to cover over-allotments, if any, and for market stabilization purposes.Company will not receive any proceeds from the offering.  Full Article

Mandalay Resources Corporation announces quarterly dividend for second quarter
Wednesday, 6 Aug 2014 05:00pm EDT 

Mandalay Resources Corporation:Declares quarterly dividend of $2,693,278, or $0.0079 per share.Payable on Aug. 28, 2014 to shareholders of record as of Aug. 18, 2014.  Full Article

Elgin Mining Inc update and enters into amended and restated arrangement agreement with Mandalay Resources
Friday, 25 Jul 2014 05:30pm EDT 

Elgin Mining Inc:Updates on previously announced transaction with Mandalay Resources Corporation.Elgin Mining reached resolution on all outstanding reclamation obligations relating to former coal operations in Kentucky, and these are to Mandalay's satisfaction.Elgin Mining has filed amended and restated interim financial statements and management's discussion and analysis for three months ended March 31, 2014 to reflect this settlement.The parties also entered into an amended and restated arrangement agreement dated July 25, 2014 with respect to previously announced acquisition by Mandalay of all outstanding common shares of Elgin Mining.Says consideration consisting of C$0.37 cash or 0.4111 of Mandalay common share per Elgin Mining common share, subject to pro ration, by way of plan of arrangement.  Full Article

Mandalay Resources Corp to acquire Elgin Mining
Wednesday, 4 Jun 2014 07:31am EDT 

Mandalay Resources Corp:Enters into an arrangement agreement pursuant to which Mandalay will acquire all of the outstanding common shares of Elgin.Says for consideration consisting of C$0.37 cash or 0.4111 of a Mandalay common share per Elgin common share, subject to pro ration.Total transaction value is about C$70 mln.  Full Article

Mandalay Resources Corp completes 5.875 pct debt financing
Wednesday, 14 May 2014 12:30pm EDT 

Mandalay Resources Corp:Completes 5.875 pct debt financing that was described in Company's press releases of April 23, 2014 and April 29, 2014.Financing proceeds were raised by way of concurrent offering of senior exchangeable bonds (Bonds) issued by Gold Exchangeable Limited (Issuer), an unaffiliated special purpose vehicle incorporated in Jersey.Company, through its wholly owned subsidiary Mandalay Resources Finance Limited, borrowed proceeds of Bond offering from Issuer under terms of loan agreement and related funding agreement which together mirror principal terms of the Bonds.Bond offering was completed immediately prior to closing of financing.As result of additional demand for the Bonds following pricing, Bond offering raised $60 mln, $10 mln increase over amount that was announced at pricing on April 29, 2014.Accordingly, size of Mandalay's financing also increased to $60 mln.Mandalay intends to use the net proceeds from the financing for general corporate purposes.  Full Article

Mandalay Resources Corp declares quarterly dividend
Monday, 5 May 2014 08:21pm EDT 

Mandalay Resources Corp:Says that it has declared a quarterly dividend of $2,285,511, or $0.0067 per share (C$0.0074 per share).Payable on May 26.Payable to shareholders of record as of May 16.  Full Article

Mandalay Resources announces proposed $60 mln debt financing
Wednesday, 23 Apr 2014 05:00pm EDT 

Mandalay Resources Corp:Intends to borrow $60 mln from Gold Exchangeable Ltd.Issuer has launched a proposed private placement offering of $60 mln of senior exchangeable bonds and the company, through its wholly owned subsidiary Mandalay Resources Finance Limited.intends to borrow the proceeds of the Bond offering from the Issuer under the terms of a loan agreement and related funding agreement which together mirror the terms of the Bonds.Intends to use the proceeds for general corporate purposes.  Full Article

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Myanmar police arrest five as calm returns to Mandalay after riots

MANDALAY Myanmar - Police in Mandalay, Myanmar's second-biggest city, said they had arrested another five people after sectarian violence in which a Buddhist and a Muslim died, but an overnight curfew and a heavy security presence appeared to have restored calm on Friday.

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