Marathon Gold Corp T.MOZ

RE:RE:RE:RE:RE:RB sed:

[AlwaysLong683]

Was there not a need to re-submit environmental proposal(s) along with other delays in terms of target dates that were initially set then extended up to this point...? Are the guidelines for achieving such approvals not clearly outlined by the provincial / federal governments (including Newfoundland) as to what was/is required to attain such approval? It appears akin to a boss asking for information and task completion and an employee providing an incomplete or insufficient response.....

MOZ Press Release dated January 25, 2023 states::

1) The amount of the credit facility has been increased to USD $225M.

2) While it is prudent to obtain an increased amount. However, the more of the credit facility that is used, the higher the interest payments are. The interest rate on the upsized USD $225M credit facility is:

".....7.0% plus the greater of (i) 3-month LIBOR, and (ii) 2.50% per annum, payable quarterly...."

The current 3-month LIBOR rate is USD 4.84%, so the interest MOZ would pay if it drew on its facility today would be USD 11.84%. The minimum throughout the course of the loan will be USD 9.50%.

While higher-risk projects like the first mine and mill build for a junior explorer with no revenues until first pour in 2025 command higher interest rates, MOZ appears to be paying full freight for the privilege.

Contrast the length of MOZ's journey from its initial decision to build a mine to first pour with that of say Artemis or Sabina and it seems apparent to me that the management teams of these companies have performed much better than MOZ to date.

Of course, each person must make their own decision(s) as to which if any of these mine development companies they wish to invest in, but I'd personally put MOZ's team in third place to date. Perhaps things will go more smoothly from here on out...?