Marathon Gold Corp T.MOZ

Study Supports Mine

[zack50]

Marathon Gold Say Study Supports C$305 Million Mine For Valentine Gold Project

 

29 Mar 202117:15 ET

 

05:15 PM EDT, 03/29/2021 (MT Newswires) -- Marathon Gold (MOZ.TO) on Monday said a feasibility study for its Valentine gold project in Newfoundland showed the site can support a C$305 million open-pit mine and mill producing 173,000 ounces of gold for 13 years.

The company said the project could repay its initial costs in just under two years. Construction could begin in January, 2022, with first gold in October, 2023. All-in sustaining costs are expected to be US$833 per ounce.

"The receipt of budgeted quotes from vendors on our construction and equipment supply packages, undertaken during January and February of this year, has coincided with very recent inflationary pressure in bulk materials pricing and labour rates. This is reflected in our capital and operating cost estimates. Nonetheless, today's Feasibility Study confirms a compelling mine development opportunity with strong margins, high rate of return and low capital intensity," chief executive Matt Manson said in a release.

[bufordpusser]

This is great news for New Foundland. Be nice to see Marathin take this on themselves with local expertise. Anaconda seems to do a good job in the community.

[TeletranOne]

I wonder if this draws attention for a big company to buy out MOZ.  

[NLMoose]

Once again, Marathon Gold is getting punished for their discoveries as their share prices continue to get lower and lower as opposed to going up.