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Bullboard - Stock Discussion Forum Marathon Gold Corp T.MOZ

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... see more

TSX:MOZ - Post Discussion

Marathon Gold Corp > Sorry but the worst is yet to come....
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Post by metalhead666 on Sep 12, 2022 4:51pm

Sorry but the worst is yet to come....

"The net proceeds of the Offering will be used to partially fund construction of the Valentine Gold Project, as well as for working capital and general corporate purposes."

"Partially" fund....Seeing as it's likely to drop to $1Can shortly and if the gold market takes another turn lower...there's considerably more dilution yet to come at even more onerous terms.

Just sayin....
Comment by Angelique01 on Sep 12, 2022 5:37pm
You're not making any sense. Why would there be considerably more dilution to come?  With this equity raise of $150M they are now fully funded to complete the $490M project. That's it for any equity requirements. In terms of comparing it to Skeena, MOZ is fully funded with all permits in hand while SKE still has to go through the permitting  and funding processes.   You ...more  
Comment by metalhead666 on Sep 12, 2022 5:47pm
It's either more dilution or onerous debt. They'll be lucky to get any debt for under loan shark rates now.
Comment by Angelique01 on Sep 12, 2022 6:13pm
Once again that is incorrect.  They already have a US$185M financing facility with Sprott coupled with an US81 M equipment financing deal with Caterpillar.  How do you think Skeena will get financed?  With pixie dust?  They to will have equity dilution combined with project debt. Whether that will be under loan shark rates remains to be seen. 
Comment by metalhead666 on Sep 12, 2022 6:27pm
They have $185 million US or $240 Million CAD....plus ( I assume it's in CAD dollars) the just raised $150 million CAD.....that's $390 Million and they need $500 million for the build.  That leaves a further $110 million CAD does it not?  The lease deal is separate. The "build" is $500 million (rounded off)  As far as SKE is concerned it's a whole lot easier ...more  
Comment by AlwaysLong683 on Sep 12, 2022 7:30pm
Though it appears MOZ has not managed their project well to date, SKE isn't exactly a slam-dunk in my view. Correct me if I'm wrong, but has SKE decided to build a mine themselves instead of entertaining takeout offers, and do they still need to get all required permitting and financing in place before they can start a mine build? If so, at least MOZ negotiated much of their financing ...more  
Comment by metalhead666 on Sep 12, 2022 7:39pm
All true. The CEO says construction starts next Summer. Financing done this year or early in 2023. I'll take him at his word. 
Comment by Ridgeback on Sep 12, 2022 7:08pm
There is plenty of capital available for the right projects, said Skeena Resources CEO Walter Coles. Coles. Skeena Resources (NYSE:SKE) is focused on redeveloping the past-producing Eskay Creek gold-silver mine in northwest B.C., an area referred to as the Golden Triangle. The company filed a feasibility study yesterday. Highlights were an after-tax net present value of C$1.41 billion at a ...more  
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