TORONTO, Feb. 6, 2024 /PRNewswire/ -- Mandalay Resources
Corporation ("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF)
is pleased to announce the appointment of Hashim Ahmed as its new Executive Vice President
and Chief Financial Officer (CFO), effective March 1, 2024. As previously announced, current
CFO Nick Dwyer resigned for personal
reasons and will be supporting the transition to Mr. Ahmed.
Frazer Bourchier, President and CEO, commented:
"We are delighted to welcome Hashim to Mandalay. His extensive
industry experience, focus on capital discipline and strategic
financial acumen make him an ideal fit for our leadership team. As
we embark on our next phase of growth, Hashim will play a crucial
role in steering our financial strategies and ensuring our
continued financial success."
Mr. Ahmed commented:
"I am thrilled to be joining Mandalay at such an exciting time.
The Company's commitment to growth and operational excellence
aligns with my own professional values. I look forward to
contributing to the financial success of the Company and working
collaboratively with the talented team in place."
Mr. Ahmed has a proven history of success with over 20 years of
experience, with the past 15 years focused on the mining industry.
He has expertise in financial management, corporate strategy,
organizational restructuring, and capital markets. Mr. Ahmed has
held a number of finance executive roles, most recently as CFO at
both Nova Royalty and Jaguar Mining
before that. Prior to Jaguar, Hashim worked with Barrick Gold for over seven years, where he held
progressively senior positions in finance functions in Canada, and with site finance teams in
Chile. At the start of his
professional career, he obtained his CA/CPA designation with
PricewaterhouseCoopers LLP and later worked with Ernst & Young
LLP in their advisory practice.
About Mandalay Resources
Corporation:
Mandalay Resources is a Canadian-based resource company with
producing assets in Australia
(Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the
profitable operation and continuing the regional exploration
program, at both its Costerfield and Björkdal mines. Currently, the
Company's main objectives are to continue mining the high-grade
Youle vein at Costerfield, bring online the deeper Shepherd veins,
both of which will continue to supply high-grade ore to the
processing plant, and to extend Youle Mineral Reserves. At
Björkdal, the Company will aim to increase production from the
Aurora zone and other higher-grade areas in the coming years, in
order to maximize profit margins from the mine.
Contact: Frazer Bourchier, President and Chief Executive
Officer; Edison Nguyen, Director,
Business Valuations and IR, Contact: 647.258.9722
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