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 > news out on $5M bought deal private placement

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Comment by locomocoon Jun 07, 2021 8:48am

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RE:news out on $5M bought deal private placement

Monarch has the cash to restart Beaufor which will be before June 2022 just in time for gold price to be at record high. With Basel 3 coming, hyper inflation and China and Russia buying up gold, IMO, gold price will be well over $2K by the time Beaufor restarts. Once Beaufor is producing 25K per year, cash flow will be at well over $20M a year.

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