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Marathon Gold Corp T.MOZ

Marathon Gold Corporation is a Canada-based gold exploration and development company. The Company’s primary business focus is the exploration and development of its flagship asset, the wholly owned Valentine Gold Project, located in Newfoundland and Labrador, Canada. The project comprises a series of five mineralized deposits along a 32- kilometer system. Its prospects are located along the Valentine Lake Shear Zone and include Frank Zone, Rainbow Zone, Triangle Zone, Victoria Bridge, Narrows, Victory Southwest, Victory Northeast, and the Berry Zone. In addition to the Valentine Gold Project in the Central Region of Newfoundland and Labrador, the Company holds 100% interests in the Bonanza Mine, a former mine located in Baker County in northeastern Oregon, the Gold Reef property, an exploration property consisting of approximately 12 hectares of claims located near Stewart, British Columbia; and a 2% net smelter returns royalty on precious metal sales by the Golden Chest mine in Idaho.


TSX:MOZ - Post by User

Post by 95Bearcaton May 04, 2020 5:24pm
246 Views
Post# 30985454

Financing

FinancingFive weeks ago, we were around $0.90. We recovered to the $1.50's for a few days. Then for no particular reason we shot up to $1.60. This morning we have an announced financing at $1.50., so we know why it was driven up. We were all upset, including me. I called the company. Apparently, Marathon is looked at by the "big guys" as a great investment and it was a good time to money up. The offering was way oversubscribed and left some dissappointed investors. What they got was quality investors. The warrants are at $1.90 and have a short shelf life of 12 months. The last offering didnt have a lot of warrants exercised so these warrants may not be either. They have enough money now until they put shovel in the ground for construction. They consider it an enviable position. Today action sees us still at $1.58 which in my opinion is very good. It may go sideways or even down a bit but so far looks good. They want to drill asap but in NL, the phasing wont allow anything to happen until June 8 maybe. At that rate, we wont see assays until mate August/September.<br /> The reassuring thing is investors are seriously interested in this project. Blue skies ahead.
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