Victorian producer to raise $60M

TORONTO-listed Mandalay Resources plans to raise about C$60 million to address short-term liquidity needs following “a number of unforeseen operational and financial developments” since September 30.

Victorian producer to raise $60M Victorian producer to raise $60M Victorian producer to raise $60M Victorian producer to raise $60M Victorian producer to raise $60M

A bottleneck at Björkdal was part of the problem

It also said it was "currently generating negative cash flow from operations", namely its Costerfield mine in Australia and Björkdal in Sweden.