Monarch Mining Corp GBARF

Beacon Mill $$$

[geosan0]

So for those wondering why the stock is down on news we have all been waiting for and wondering if there is anything other than the collapse of the gold price that is at play, I may have some insight.  Just my opinion so draw your own conclusions.

When I saw the price of the refurbishment ($20 million), I thought it was way more than I remember hearing it would cost so I went back and found a presentation that was given in Nov 2021 where the cost was expected to be around $6 million for the mill refurbishment with more than 60% of the work already carried out.  During that same period, Oct 2021 the company in a press release stated that “This work is part of our estimated budget of approximately $12.5 million to bring the Beaufor Mine and Beacon Mill back into operation and will allow our employees to work more efficiently and safely,”

So not sure if the $20 million price tag in today's news release is cost inflation from the $12.5 million Beaufor/Beacon budget or the $6 million that was earmarked only for Beacon but either way that may explain the capital raises that left me scratching my head in an earlier post.

Hopefully, there are no more cost surprises going forward or operational hiccups and looking towards the cash flow that will be generated over the next 3 months as they should have enough material to run the mill at 100% capacity for that period of time (based on stockpiles and ongoing mining operations).

Looking forward to better times ahead.

GLTA