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Monarch Gold Corp – MQR.TO

Discussion in 'Canadian Stocks Message Boards' started by Dan Thunderbolt, Dec 24, 2019.

  1. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    A follow-up news to yesterdays deal with CDPG (Caisse de dépôt et placement du Québec). The planned exploration program will be one of the largest exploration programs ever undertaken on the Beaufor Mine. Goal is to restart gold production at the Beaufor mine within 12 to 18 months. Hopefully the results of the exploration program will exceed expectations...

    GoldSpot Discoveries Signs Agreement with Monarch Gold
    Newsfile Corp.
    May 8, 2020
    https://finance.yahoo.com/news/goldspot-discoveries-signs-agreement-monarch-140800611.html
     
    #21 Dan Thunderbolt, May 8, 2020
    Last edited: May 8, 2020
  2. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Management did a great job with the non-dilutive financing deal with La Caisse de dépôt et placement du Québec (CDPQ) to fund an exploration program with the goal of restarting the Beaufor Mine in 12-18 months.

    Next up is the Feasibilty Study for Fayolle in Q2 2020. Not much time needed to bring this project into production. Permits are expected within a year after completion of the Feasibility Study. Capex for Fayolle is manageable with initial costs of C$ 5.9 Million according to PEA 2013. Total Production is 74,813 oz at cash operating costs of $721 US/oz with a minelife of 3 years.

     
  3. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Starts Drilling On Wholly Owned Mckenzie Break, Swanson And Beacon Properties
    May 13, 2020
    News Release
    • The follow-up program on McKenzie Break will target lateral and depth extensions of hole MK19250, which returned 10.50 g/t Au over 11 metres, including 156.00 g/t Au over 0.6 metres, and the eastern extension of hole MK-19-249, which returned 5.28 g/t Au over 13.70 metres, including 58.17 g/t Au over 0.6 metres.
    • Best results from the 2018 and 2019 drilling programs on McKenzie Break, by metal factor:
    • MK-18-205Ext: 32.30 g/t Au over 7.1 metres (realized in 2019)
    • MK-18-196: 61.20 g/t Au over 2.6 metres
    • MK-19-250: 10.50 g/t Au over 11.0 metres
    • MK-19-249: 5.28 g/t Au over 13.7 metres
    • MK-19-241: 26.78 g/t Au over 2.1 metres
    • The program on the Swanson and Beacon properties will test new high-potential targets.
    Montreal, Quebec, Canada, May 13, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7)is pleased to announce that it has started diamond drill programs on three of its wholly-owned gold properties, namely McKenzie Break, Swanson and Beacon. Drilling started on the McKenzie Break property, and will subsequently move to the Swanson and the Beacon properties, respectively.

    https://www.monarquesgold.com/news-...-mckenzie-break-swanson-and-beacon-properties
     
  4. Mark22

    Mark22 Member

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    I found this article, you may like https://www.juniorminingnetwork.com...gold-starts-drilling-on-wholly-owned-mckenzie -break-swanson-and-beacon-properties.html
     
    Dan Thunderbolt likes this.
  5. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Reports Its Third Quarter Results For Fiscal 2020
    May 13, 2020

    Montreal, Quebec, Canada, May 13, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) reported its results today for the third quarter ended March 31, 2020. Amounts are in Canadian dollars unless otherwise indicated.

    Summary of financial results

    [​IMG]

    “COVID-19 may have put a temporary halt on our exploration activities but we are still extremely busy preparing for the post-COVID period and a rising gold market,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “In fact, we recently announced a $5 million financing with the Caisse de dépôt et placement du Québec for the Beaufor mine (see press release dated May 7, 2020), excellent results for the Fayolle deposit (see press release dated April 30, 2020) and the McKenzie Break deposit (see press release dated February 26, 2020) and strengthening of our management team with the appointment of Guylaine Daigle to our Board of Directors. The coming period should be equally interesting as we continue to work on the development of our flagship Wasamac deposit, which is currently attracting renewed interest from the mining and financial community, as well as our other substantial mining assets, including the Croinor Gold and Swanson deposits and the Camflo and Beacon ore processing plants.”

    https://www.monarquesgold.com/news-...rts-its-third-quarter-results-for-fiscal-2020
     
  6. Dan Thunderbolt

    Dan Thunderbolt Active Member

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  7. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Yesterday was a good time to buy imo. We just cleared out Monarch's terrible Nemaska Shareholder which is going bankrupt.

    Nemaska Lithium Sells Its 15,849,455 Common Shares of Monarques
    May 15, 2020 06:30 ET | Source: Nemaska Lithium Inc
    multilang-release
    MONTRÉAL, May 15, 2020 (GLOBE NEWSWIRE) -- With the approval of the Superior Court of Québec, Nemaska Lithium Inc. (the “Corporation“) proceeded yesterday with the sale of all its 15,849,455 common shares of Monarch Gold Corporation (“Monarques”). The shares were sold at an average price of $0.225, for a total amount of approximately $3.5 million. These shares were not subject to any security and their sale has enabled the Corporation to generate additional liquidity for the ongoing restructuring process under the Companies’ Creditors Arrangement Act (CCAA).
    https://www.globenewswire.com/news-...ts-15-849-455-Common-Shares-of-Monarques.html
     
  8. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Below is Monarch's Press Release on the high trading volume. Monarch's market cap of ~C$72 million is still way too low imo considering that the two mills they own are worth around C$50 million. Cash and investments are as of 31 March 2020 is C$7,5 million. Plus CDPQ (Caisse de dépôt et placement du Québec) recently invested C$5 million in Monarch Gold and the Beaufor Mine for a drill programm in order for a re-start.

    Monarch Gold Announces The Sale By Nemaska Lithium Of 15,849,455 Monarch Gold Shares
    May 15, 2020

    Montreal, Quebec, Canada, May 15, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7)explains yesterday’s record volume due to the sale of the 15,849,455 shares held by Nemaska Lithium in connection with its ongoing restructuring process under the Companies’ Creditors Arrangement Act (CCAA) (see press release). Nemaska no longer holds any Monarch shares.
    https://www.monarquesgold.com/news-...ska-lithium-of-15-849-455-monarch-gold-shares
     
  9. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Receives Excellent Results From New Tailings Study On The Wasamac Gold Project
    May 20, 2020


    - Study clearly shows that the Wasamac tailings are non-potentially acid generating (non-PAG).
    - Wasamac tailings could also lower the acidity at tailings sites of neighbouring mills (see the map).
    - Combined effect could improve the project’s economic parameters and support the lower-CAPEX custom milling scenario.

    https://www.monarquesgold.com/news-...ew-tailings-study-on-the-wasamac-gold-project

    “This study is of great interest to us, as it indicates that the Wasamac tailings will be significantly less harmful to the environment than if they were acid-generating,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “In addition, the potential to neutralize acid on existing tailings facilities from Wasamac tailings suggests that Wasamac could be an obvious economic choice for several mills (see the map).”
     
  10. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Glencore is a great partner to have for the Monarch's flagship project Wasamac (NPV of ~ C$1 Billion at the current price of Gold with 142,000 ounces/year over 11 years. US$630/oz all-in-sustaining costs). Monarch's Market cap is way too low imo...

    Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
    With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
    Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 people, including contractors.
    Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
     
  11. Dan Thunderbolt

    Dan Thunderbolt Active Member

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  12. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    According to the company presentation the Feasibilty Study for Fayolle will be ready in Q2 2020.

    This is a huge cash windfall opportunity for Monarch. Not much time is needed to bring this project into production. Permits are expected within a year after completion of the Feasibility Study. Most likely the below numbers will even improve with the consideration of recent drill results.

    Fayolle (PEA 2013)
    • Capex initial costs of C$ 5.9 Million
    • Total Production is 74,813 oz at cash operating costs of $721 US/oz
    • Minelife of 3 years.
    • After-Tax IRR 110%
     
    #32 Dan Thunderbolt, May 23, 2020
    Last edited: May 23, 2020
  13. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Sells Fayolle To IAMGOLD For $11.5 Million
    June 1, 2020
    https://www.monarquesgold.com/news-releases/monarch-gold-sells-fayolle-to-iamgold-for-11-5-million

    “This is a profitable short-term transaction for Monarch, allowing us to significantly strengthen our financial position without dilution and with the potential for appreciation if the share value of IAMGOLD increases, especially in the current gold bull market,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “While Fayolle has potential, the fact remains that Wasamac is our priority project and the recent signing of the MOU with Glencore Canada (see press release dated May 14, 2020) has raised the outlook of our 2.6-million-ounce gold flagship project, which includes 1.8 million ounces of reserves. The funds from this transaction will allow us to advance the Wasamac project at a faster pace, while simultaneously pursuing exploration programs on our Beaufor and McKenzie Break properties.”
     
  14. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Besides the restart of the Beaufor Mine the clear focus of Monarch is now on the flagship project Wasamac.

    Wasamac gold project
    Ø Positive feasibility study (December 3, 2018)
    Ø High return: $522M NPV and 23.6% IRR (all pre-tax)
    Ø Solid output: 142,000 oz/year over 11 years
    Ø Low cost: US$550/oz production cash costs
    Ø Based on US$1,300 gold price
    Ø Exploration potential in all directions
    Ø Started a 2-year permitting process in December 2019

    Wasamac was selected as a pilot project by the Government of Quebec to be supported throughout the permitting process by the interdepartmental table announced by Minister Julien on November 19, 2019.

    CAPEX is C$464 million which can potentially be reduced by C$230 million for mill and tailings facility if they decide for custom milling as Wasamac is right next to a railway system.

    Recently Monarch signed a Memorandum Of Understanding with Glencore Canada Corporation regarding "the potential use of Glencore’s Kidd concentrator (the “Concentrator”) in Timmins, Ontario for the treatment of ore to be mined from Monarch’s Wasamac gold property located in the Province of Québec".
     
  15. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch's current market cap of ~ $70 million is a joke imo. The two mills Monarch owns are worth ~ $50 million. Cash and short-term investment are approximately ~ 20 million (including the recent $11.5 million share deal with IAMGOLD). On top of that the recent $5 million investment by CDPG (Caisse de dépôt et placement du Québec) in order to re-start Monarch's Beaufor Mine.

    The NPV of the flagship Wasamac project is pre-tax NPV of ~ C$1 Billion with the current price of Gold.

    The Beaufor Mine produced 14,856 oz of gold produced year ended June 30, 2018. According to previous presentations from the CEO there is the potential for ~ 714,000 new ounces with the drilling program paid by CDPG. The goal is to restart gold production at the Beaufor Mine within 12 to 18 months.

    I am still very confident that Monarch has multibagger potential...
     
  16. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Announces The Closing Of The Sale Of The Fayolle Property To IAMGOLD
    June 8, 2020

    Montreal, Quebec, Canada, June 8, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce the closing of the sale of the Fayolle property to IAMGOLD Corporation (“IAMGOLD”) (TSX: IMG) (NYSE: IAG) for a total consideration of $11.5 million.

    IAMGOLD issued 1,851,145 common shares to Monarch at a price of $5.24 per share for a total value of $9.7 million and will pay an additional $0.3 million in cash upon transfer of ownership of a parcel of land to IAMGOLD and an additional $1.5 million in cash 90 days after the initial transport of ore from the Fayolle deposit.

    Following this transaction, Monarch now has approximately $20 million in cash and short-term investments.


    https://www.monarquesgold.com/news-...f-the-sale-of-the-fayolle-property-to-iamgold
     
  17. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    New company presentation available

    https://www.monarquesgold.com/en/investors/presentations

    Latest News - Advancing Key Assets to Production
    • May 20: New study shows that Wasamactailings are non-potentially acid generating
    • May 14: MOU with Glencore regarding potential use of Kidd Concentrator for Wasamac
    • May 13: Drilling started on McKenzie Break, Swansonand Beacon
    • May 07: CDPQ invests $5 million to support potential re-opening of Beaufor Mine
     
  18. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Looks like the big boys want to be part of Monarch...

    Yamana Gold Invests In Monarch Gold
    June 11, 2020
    • Closing of a $5,419,800 private placement with Yamana Gold ($4.2 million), Alamos Gold ($720,000) and other investors ($499,800).
    • Yamana Gold will be entitled to participate in future financings to maintain its interest in the Corporation and will be represented on the Board of Directors of Monarch.
    https://www.monarquesgold.com/news-releases/yamana-gold-invests-in-monarch-gold

    “This strategic investment by a mining company of Yamana's calibre is tangible proof that we are on the right track. I would like to thank them for their confidence and their future contribution to our Board of Directors,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “The steps we have taken to advance our flagship Wasamac project continue to attract a great deal of interest from the mining and financial community and it is only a matter of time before we are fully appreciated. With this financing, our overall financial position now stands at more than $25 million, which will allow us to move more quickly to develop Wasamac, Beaufor and McKenzie Break, gold projects at various stages of development that each have excellent upside potential.”

    Alamos has exercised its right to participate in this private placement in order to maintain its interest in Monarch by subscribing for an amount of $720,000.
     
    #38 Dan Thunderbolt, Jun 11, 2020
    Last edited: Jun 11, 2020
  19. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    This stock will only go up from here imo. Among the shareholders are Alamos Gold, Hecla Mining, Yamana, Rob McEwen and Agnico. Quite impressing list of names. Current market cap on a fully diluted basis is C$ 88 million. Cash and short-term investments are ~ C$ 25 million. The two mills Monarch owns are worth ~ C$ 50 million.

    Wasamac alone has an after-tax NPV of around C$ 650 million. Monarch already has a MOU with Glencore in connection with the potential use of Glencore’s Kidd concentrator in Timmins, Ontario for the treatment of ore from Wasamac.

    The Beaufor Mine will be re-opening in 12-18 months.The mine produced 14,856 oz of gold produced year ended June 30, 2018. According to previous presentations from the CEO there is the potential for ~ 714,000 new ounces with the of C$5 million drilling program paid by Caisse de dépôt et placement du Québec.

    In addition, all of Monarchs other gold projects (Croinor, McKenzie Break, Swanson and Beacon) at various stages of development have excellent upside potential.

    Overall, lots of upside potential imo...
     
  20. Dan Thunderbolt

    Dan Thunderbolt Active Member

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    Monarch Gold Appoints Yohann Bouchard To Its Board Of Directors
    June 16, 2020

    Mr. Bouchard is currently Senior Vice President, Operations of Yamana Gold Inc. He joined Yamana in October 2014. Mr. Bouchard has obtained progressively more technical and operating experience over a 24-year career in mining with a particular focus on underground and open pit operations. Prior to joining Yamana, Mr. Bouchard occupied key operating and technical positions with Primero Mining Corporation, IAMGOLD Corporation, Breakwater Resources Ltd. and Cambior Inc. Mr. Bouchard oversaw precious and base metal operations in both the Americas and in Africa. Mr. Bouchard holds a Bachelor of Mining Engineering degree from École Polytechnique of Montréal. He is registered as a professional engineer with Professional Engineers Ontario.

    https://www.monarquesgold.com/news-...nts-yohann-bouchard-to-its-board-of-directors
     

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