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Monarch Mining Corp GBARF

Monarch Mining Corporation is a Canada-based is a gold mining company. The Company owns three projects, such as the Beaufor, McKenzie Break, and Swanson projects. It holds a 100% interest in the Beaufor Mine, which is on care and maintenance. The property consists of two mining leases, a mining concession and approximately 23 mining claims covering an area of 5.9 square kilometers (km2). The McKenzie Break property covers 7,848 hectares (78.5 km) and is located 20 kilometers north of the Beacon Mill and 10 kilometers (km) south of the town of Barraute, Quebec. The Swanson property consists of a mining lease plus a total of 129 claims covering an area of 5,211 ha. The property lies 65 km northeast of Val-d'Or and just 50 km north of Monarch's wholly owned 750 tpd Beacon mill. The Company owns 14,316 hectares of mining assets in the prolific Abitibi mining camp that hosts a combined measured and indicated gold resource of 478,982 ounces and a combined inferred resource of 383,393 ounces.


GREY:GBARF - Post by User

Comment by geosan0on Apr 15, 2022 11:42am
136 Views
Post# 34606441

RE:long, long ago...

RE:long, long ago...
Greetings stockpunter. 

As I am an oldtimer also, I'll take a shot at trying to connect the dots as I remember, lol, them.  You go back to the Louvem / Richmont days and just shortly after that transaction, Richmont bought out Patricia Mining to gain total control of the Island Gold property.  At that time, a company called Golden Goose Resources (GGR) held the Magino property that bordered the Island Gold property.  I got involved with GGR hoping that RIC would buy out GGR.  RIC didn't buy them but eventually the Magino property was purchased by Argonaut Gold for a nice price.  The key management members of GGR back then can now be found running Monarch Mining.  However, the link does not stop there.  Years after the GGR sale to Argonaut Gold, RIC was being bought out by Alamos Gold and Alamos Gold only wanted the Island Gold property and not the assets in Quebec.  You guessed it, Monarch Gold stepped in and acquired the Quebec assets which included the Beaufor mine.  The management team at Monarch Gold was the management team you have here now and the team that was at GGR back in the day.  If you are wondering what happened to Monarch Gold, well they got bought out by Yamana Gold to access the Wasamac property that was picked up in the RIC Quebec asset transaction.  Monarch Mining is a spin-off of the assets that Yamana Gold did not want.  Rinse and repeat, lol.

So here we are today with the Beaufor mine being restarted shortly (June) in Monarch Mining.  Monarch Gold had put the mine on care and maintenance for a couple of years because the mining plan was not making the company much money.  Under the new mining plan, production is suppose to double which will bring down the operating costs at Beaufor and hopefully bring in some meaningful cash flow to Monarch Mining.

So there you have it, Alamos Gold is operating the hugely successful Island Gold property and the current management team at Monarch Mining has been involved in both the Magino project and the Wasamac project both of which are either in construction or projected to be in construction over the next couple of years.

With regards to Adventure Gold, i have nothing to contribute as I am not aware of the story.

Happy investing and thanks for the memories!!!!
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