Monarch Mining Corp GBARF

Metals & Mining Gold

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.

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Monarch Mining Corp > Monarch Mining “Slows Down” Operations At Beaufor Mine Due T

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Comment by geosan0on Sep 01, 2022 6:05pm

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RE:RE:RE:Monarch Mining “Slows Down” Operations At Beaufor Mine Due T

Thanks flashcash for that post because I was not familiar with the pure gold story so spent the last hr catching up.

Sure sounds like the same story about to repeat itself here. The only silver lining I saw between the 2 stories is the valuation. Pure Gold has a market cap of $80m with a reported cash balance of $12.7m and long term dabt of $106.1m. By my math, this is almost an enterprise value of $170m for an expected production of 775-875 tpd at 4.0-5.0 g/t gold.

Based on Monarch's hopeful production targets, I believe that they were targeting similar tpd and g/t. I would take a fraction of the Pure Gold valuation anyday.

The statement above should not be interrpreted as looking at this investment with rose colored glasses. Will be on the sidelines until more news is leaked as to progress made to fixing problems.

If commercial production is not declared before the end of quarter end (Sept), we may not see audited cost numbers until the December quarter which means we, the shareholders, will only know sometime in 2023. Long time to wait but what are you going to do?!?!?!

GLTA

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