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Monarch Gold Corporation T.MQR

Monarch Gold Corp is a Canada-based exploration-stage company. It is engaged in the acquisition and exploration of gold mining properties. Its main activities are located in the province of Quebec, Canada. The corporation holds an interest in gold properties including the Beaufor Mine, Camflo Mill, Croinor Property, Beacon Mill, Wasamac, and McKenzie Break among others.


TSX:MQR - Post by User

Comment by locomocoon Nov 03, 2020 9:48am
157 Views
Post# 31829028

RE:RE:RE:RE:Monarch Gold Announces Friendly Acquisition Agreement With Y

RE:RE:RE:RE:Monarch Gold Announces Friendly Acquisition Agreement With Y

Spinco (new Monarch) with Beaufor, Mckenzie, Swanson and Croinor, low float and market cap of around $50M is poised to appreciate quickly. With the selling of Wasamac and Camflo to Yamana, the new Spinco can now focus more on restarting Beaufor Mine next year which will become a cash cow with approximately $15-$20M per year profit. Given the small float of Spinco, when this happens IMO the shareprice will appreciate significantly. Armed with $14M in cash and steady stream of money coming from Beaufor, Spinco can focus more on drilling McKenzie as well as larger investment in drilling campaign on Croinor which they have only scratched the surface on 5 sq km out of 200 sq km. Last time they drilled Croinor, they had great results. Croinor can become a multimillion ounce property and viable for open pit. They already have a mining licence so can put it into production fairly quickly. IMO, with Beaufor Mine operating again and expected to produce 20K to 25K gold per year, the share price ot Spinco can take off to above $2 per share within a year especially during gold bull run. 

https://www.monarquesgold.com/news-releases/monarch-gold-resumes-drilling-on-croinor-gold-property

 

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