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Marathon Gold Corp MGDPF


Primary Symbol: 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 Ridgebackon Jun 07, 2022 9:06am
278 Views
Post# 34736461

Today's Trivia

Today's Trivia
Canaccord Genuity analyst Michael Fairbairn resumes coverage on Marathon Gold Corp (MOZ:CN) with a Spec. Buy rating and a price target of Cdn$3.60.
 
While it's unlikely that any project will be completely immune to the industry-wide issue, there are mitigating measures that can result in a lower net impact.
 
These include having fixed price engineering, procurement, and construction agreements and/or having previously commenced project development and procurement, the panelists noted.
 
CG said the panelists highlighted the increasing procurement and fabrication timelines as key areas of focus.
 
"We suspect that this may ultimately result in extended build schedules for those who have not already begun to source mills, equipment, and associated infrastructure," CG said.
 
In order to avoid many of the ramp-up related issues recently seen in the industry, the panelists cited key areas that companies should focus on including, not "bootstrapping" a build, being operationally ready, and knowing their deposit, CG said.
 
Included amongst the panelists were Artemis Gold's vice president for capital markets Nicholas Campbell, Marathon Gold's president and CEO Matthew Manson, and Osisko Mining's chairman and CEO John Burzynski.
 
Marathon Gold's Valentine project, for example, saw its initial capex rise 12% from an April 2020 pre-feasibility study to C$305 million in an April 2021 feasibility study—and has risen further since.
 
In an update made last month, Marathon said that cost inflation and construction market volatility will mean that previous estimates for total life-of-mine capital costs of C$662 million, cash operating costs of US$704 per ounce, and all-in sustaining costs of US$833/oz will now likely be between 15-20% higher.
 
While Marathon did not provide a detailed update on increased initial capital costs, it said: "Marathon also intends to re-characterize certain capital costs that were previously captured as early sustaining capital items to initial capital costs".
 
"This will increase the initial capital cost but reduce AISC and de-risk the project's ramp-up to positive cash flow," the company said.
 
Marathon's Valentine is expected to see project permit approval this quarter or next, a resource update mid-year, and an updated technical report in Q4.
 
"Marathon has done an admirable job attracting top-tier talent and now has a strong, development-focused management team in place," CG analyst Michael Fairbairn said earlier in the month.
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