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Bullboard - Stock Discussion Forum Monarch Gold Corporation T.MQR

Monarch Gold Corp is a Canada-based exploration-stage company. It is engaged in the acquisition and exploration of gold mining properties. Its main activities are located in the province of Quebec, Canada. The corporation holds an interest in gold properties including the Beaufor Mine, Camflo Mill, Croinor Property, Beacon Mill, Wasamac, and McKenzie Break among others.

TSX:MQR - Post Discussion

Monarch Gold Corporation > Good News Out ! Explains Why the Selling Happened
View:
Post by Bradwait on May 15, 2020 10:25am

Good News Out ! Explains Why the Selling Happened

MONTREAL, May 15, 2020 /CNW Telbec/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) explains yesterday's record volume due to the sale of the 15,849,455 shares held by Nemaska Lithium in connection with its ongoing restructuring process under the Companies' Creditors Arrangement Act (CCAA) (see press release). Nemaska no longer holds any Monarch shares.

"When Nemaska began its restructuring process, we suspected that this block would be put up for sale, but we had no idea of the timing," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "Despite the negative short-term impact this sale has had on our share price following the announcement of major news for Monarch, we are pleased that these shares are now in stronger hands. »

ABOUT MONARCH GOLD CORPORATION

Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 330 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

Comment by locomoco on May 15, 2020 10:43am
Good that Monarch addressed this promptly. IMHO the communication and management team is solid. Looking forward to more drilling results on Beaufor, Cronoir and Fayolle in the coming weeks and months. Gold is on a tear at the moment.
Comment by greendayyyy on May 15, 2020 11:42am
Another problem solved with Nmaska. Lots of positive things to come for MQR. Really undervalue at the price of gold.
Comment by locomoco on May 15, 2020 12:04pm
Stock price slowly going back up. Should be where it was hanging around 28 to 29 cents range. Will easily pop over 30 cents on news from drilling.
Comment by bingostar on May 15, 2020 1:10pm
The selling of 15M+ shares from Nemaska is in my opinion a chaotic event that should have been prevented. Generally at that level you ask your broker to find a buyer for a bloc trade or you orderly sell on many weeks to avoid chaos. Im surprised the market was able to absorb that quantity od sold shares. Maybe that signal the streght of MQR.
Comment by locomoco on May 15, 2020 1:22pm
Maybe there is a realization by those who were buying yesterday that at this share price, MQR is way undervalued and the risk to reward is great enough to take a postion at low to mid 20 cents range.
Comment by VENMan on May 16, 2020 2:51pm
I just saw the news today that came out yesterday. I plan to buy shares Tuesday knowing why there was a spike in volume.  
Comment by bingostar on May 18, 2020 10:31am
trading +8% on otc now.
Comment by locomoco on May 18, 2020 2:28pm
Should be back around 28-29 cents and consolidate around there for awhile as we wait for results from the remaining drill holes at Fayole and progress on Beaufor. 
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