Marathon Gold Corp T.MOZ

Metals & Mining Gold

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.

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Marathon Gold Corp

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Post by Ridgebackon Sep 22, 2022 8:24am

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Post# 34978460

National Bank

National Bank on Tuesday removed Marathon Gold Corp. (MOZ.TO) from restriction to outperform following the closing of a $150 million bought deal financing.

"The financing marks a significant project de-risking milestone and addresses the overhang after messaging for higher development capex," the analysts said.

The price target on the company's shares is $2.25.

The company plans to use the proceeds for the construction of the Valentine project, and for working capital and general corporate purposes.

The company's shares slipped 1.5% on last look on Wednesday.

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