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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 birdie22on Sep 15, 2022 2:55pm
125 Views
Post# 34965115

Use of Funds

Use of Funds
 v
USE OF PROCEEDS
The estimated net proceeds to the Company from the Offering will be approximately $142,100,380 after deducting
the Underwriters’ Fee and the estimated expenses of the Offering. The Company intends to use the net proceeds of
the Offering to fund the commencement of various early works projects and the acquisition of equipment relating to
the construction of the Company’s Valentine Gold Project as follows:
Use Amount
Mine infrastructure and development $15,000,000
Mining Equipment $10,000,000
Engineering, and Procurement (including deposits on
long lead items)
$25,000,000
Owners Team, Bonding, and Insurance $20,000,000
Bulk Earthworks $20,000,000
Roads, Camp, Communications & Power $52,100,380
Total $142,100,380
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