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 shiftyoneon Nov 16, 2023 4:05pm

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Post# 35739979

updated analyst report today from analyst

Globe says Sclodnick moves Marathon Gold to "tender"

2023-11-16 07:52 ET - In the News

Also In the News (C-CXB) Calibre Mining Corp (2)

The Globe and Mail reports in its Thursday, Nov. 16, edition that Desjardins Securities analyst John Sclodnick has upgraded Marathon Gold to "tender" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sclodnick slashed his share target by $1.53 to 72 cents. Analysts on average target the shares at $1.34. Mr. Sclodnick made his rating change following the announcement of Marathon Gold's deal to be acquired by Calibre Mining, believing it "appears to be [the] only way forward." Mr. Sclodnick says in a note: "We certainly view it as a disappointing outcome for a quality Canadian project. However, given Marathon Gold was significantly underfunded in a challenging financing market, the Calibre Mining offer appears to be the best solution for Marathon shareholders, who can continue to participate in the potential rerating of Calibre's undervalued shares. We had previously modelled a $70-million funding gap for Marathon to complete the Valentine Gold project as per the latest study. However, if management were to proceed with its proposed larger throughput upfront, that funding gap would have increased to $100-million, or 35 per cent of the company's market cap."