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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.


OTCPK:GBARF - Post by User

Monarch Mining Corp
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Post by loonietuneson Feb 03, 2022 8:04am
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Post# 34392293

News out this morning

News out this morning

Monarch Mining Receives Final Payment of $3.75 Million From Gold Royalty in Connection With the Sale of Royalties

 

TSX: GBAR
www.monarchmining.com

Mr. Jean-Marc Lacoste reports:

MONTREAL, Feb. 03, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce that it has received a final cash payment of $3.75 million from Gold Royalty Corp. (NYSE: GROY) in connection with the sale of royalties on the Beacon, Croinor Gold, McKenzie Break and Swanson properties (see news releases dated July 23, 2021 and August 5, 2021 for further details on the transaction).

"These funds will further strengthen our working capital in preparation for the restart of the Beaufor Mine and Beacon Mill expected by June 2022," said Jean-Marc-Lacoste, President and Chief Executive Officer of Monarch.

About Monarch


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