Mandalay Resources unveils positive Q4 figures

Record production in its fourth quarter helped gold and silver miner Mandalay Resources (TSE:MND) lift fourth quarter profits despite weak prices for both metals.In the three months to December 2014 revenues rose by 71% to US$67m from a year earlier, underlying profit was up by 55% to US$21.5m and net profit rose by 71% to US$7.6m. The company's president Mark Sanders tells Proactiveinvestors about some very positive reserve announcements from operations in Bjokdal Sweden, Cerro Bayo in Chile and the Australia Costerfield property. Mandalay Resources' fortunes are in stark contrast to the rest of the junior miners. Despite weakness in gold and silver prices, Mandalay has been working hard to push its cash costs down to record lows and improve margins to pay dividends