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Mandalay Resources 4% Lower Despite "Encouraging" Drill Results

Mandalay Resources (MND.TO) went down by nearly 4% on Tuesday afternoon after announcing an update on development and diamond drilling at its Cerro Bayo, Chile, silver-gold mine.

MND shares weakened despite the company saying that "The results of our first seven months of intensive exploration and development at Cerro Bayo are extremely encouraging. Drilling to test the first near-mine exploration target, the Delia SE extension, has successfully located the offset vein and confirmed continuity of high-grade mineralization."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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