National Bank 10:58 AM EDT, 08/25/2022 (MT Newswires) -- National Bank of Canada noted Thursday the positive decision statement issued by Canada's Minister of Environment and Climate Change over Marathon Gold Corp. (MOZ.TO)'s project.
The project has now been fully released from both the federal and provincial environmental assessment process, the bank said.
The company should now be focused on project development. An updated feasibility study is expected by yearend, according to National Bank.
The bank maintained Marathon's outperform rating and $2.50 price target, reflecting the potential of the project, the company's compelling organic opportunity and M&A appeal.