Generation Mining Ltd T.GENM

Ebankbank copy & paste

[Sandblaster1980]

MARATHON, Ont. An environmental review panel scrutinizing a proposed palladium and copper mine near Marathon could deliver its report to the provincial and federal governments by mid-June of next year, as long as its projected timeframe is not put on pause. A spokeswoman for the government-appointed panel of three experts said the process is paused whenever there is a formal request by interested parties for more information, which then requires the proponent Generation Mining to provide a formal response. There are just under 200 days left on the (timeframe) clock, Shelley Rolland-Poruks said in an email. Assuming the clock doesnt stop with any other information requests, the panels report would be due by June 14, 2022. The review process is to include public hearings into the mine proposal, but dates havent been set. Though municipal and provincial officials have publicly stated they want the hearings to take place sooner than later, the panel can take whatever times it needs as long as it is within the prescribed timeline, Rolland-Poruks said. According to the panels 2020 appointment agreement, the panel members were selected based on their knowledge and expertise related to the potential environmental effects of the project, and are unbiased and free from any conflict of interest relative to the project as required under the Canadian Environmental Assessment Act. Though the panel has been mandated to act independently from government, that hasnt stopped Ontario Northern Development and Mines Minister Greg Rickford from weighing in Rickford recently told some municipal officials he would soon have some good news to share about the project, although his office didnt explain what that meant when asked to last week. Instead, the following statement was released. I have written to the federal government expressing our support for the project and am calling on them to make this project a priority and ensure the timelines for approvals are respected, Rickford (Kenora-Rainy River) said in the statement. Given (palladiums) significance to the region and to Canadas supply of critical minerals, this project can and should progress in a timely manner, Rickford added. Liberal MPP Michael Gravelle, whose Thunder Bay-Superior riding contains the mining proposal, didnt fault Rickford for writing the letter, saying he, too, wants the project to move forward as quickly as possible. Anything (Rickford) can do to move the public hearings forward would be beneficial to the project, and Im hoping that he will use his influence as minister to make that happen, Gravelle added. If the open-pit mine is approved, it would create 400 direct jobs a short drive from Marathon for at least 13 years. Toronto-based Generation Mining says it would cost US$520 million to build the mine. A feasibility study says the projects economics are based on palladium and copper prices of US$1,725 per ounce and $3.20 per pound respectively. On Monday, palladium was fetching about $1,800 per ounce, down from $2,400 earlier this year due to a slump in automotive sales during the pandemic and a corresponding drop in demand for catalytic converters. Nearly 60 per cent of the mines proposed revenue is to come from palladium. Copper, meanwhile, remained strong at more than $4 per pound.

[Ebankbank]

Great, thanks for that. This should be trading well above where it is at the present time. Very low float of shares out there, yes 190 million now with the buyout but that's my point. Most of the shares are held buy investors that know the potential of this and are all waiting for the project to start production.