RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Spinco is actual a bargain 42,500 metre drill program on Beaufor is huge. Monarch only reported I think less than 10% of what has been drilled already so lots of drill results still pending. IMO, they will be able to increase resources to mine Beaufor at 20K ounces per year for anothrt 5 years at least. I think we will be pleasantly surprised when they report drill results at deeper depths. Beaufor mine is still very shallow and other mines in Abitibi go down deeper.
Beaufor mine will be the cash cow for new Monarch Mining company which they will use profit generated to get McKenzie and Croinor into production. I believe Croinor has mining permits already and they need $30M to get it into production which i recall can do 30K-50K ounces per year.