/EINPresswire.com/ -- ATLANTA, GEORGIA -- (Marketwired) -- 07/19/16 -- Pursuant to the early warning requirements of applicable securities laws, GMT Capital Corp. ("GMT") announces that certain of its hedge fund and private client managed accounts have acquired an aggregate of 62,607,300 common shares ("Common Shares") of Mandalay Resources Corporation ("Mandalay") representing approximately 15.05% of the issued and outstanding Common Shares.

The Common Shares were acquired in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over Mandalay. GMT managed accounts may from time to time acquire additional Common Shares, dispose of some or all of the existing or additional Common Shares or may continue to hold the Common Shares.

GMT specifically disclaims any beneficial ownership of the Common Shares, but as investment manager of its managed accounts GMT has exclusive power to exercise investment control or direction over the Common Shares.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:

GMT Capital Corp.

2300 Windy Ridge Parkway

Suite 550 South

Atlanta, GA 30339

Attention: Philip J. Meyers, Vice President - Head of Compliance

Telephone: (770) 989-8263

Contacts:
GMT Capital Corp.
Philip J. Meyers
Vice President - Head of Compliance
(770) 989-8263