According to the recent news release the new Monarch Mining company (GBAR) will have a flurry of news coming in 2021. However, investors need to be patient as the new company won't be listed on stock exchange until February. I suspect Beaufor drilling results will be announced immediately after listing and date of Beaufor mine restart will be provided as well. Hoping Beaufor mine will restart by end of Q1. IMO, all the pending news on the drill programs mentioned below will propel Monarch Mining from IPO to be over $1 in March.
Once Beaufor mine is operating by end of 2021 with steady cash flow starting to come in, Monarch will find a partner to further the development of Croinor which already has mining permits, and is open pitable. Croinor will require $30M capex which will not be difficult to obtain in a gold bull market. When this happens by end of 2021, Monarch Mining shareprice will be around $3. Also keep in mind Monarch Mining will have $14M cash on hand and a tight float of around 65M shares. This will add to the catalyst of the share price appreciating quickly on positive news.
Croinor along with Beaufor will likely enable Monarch Mining to be producing around 45K ounces of gold per year, generating annual net cash flow of around $60M. IMO, at this point by 2023 the share price will be over $10. I see Monarch Mining being 10X in 2 years. With patience, long investors will make a huge return.
Also, note that a small fraction of Croinor has only been explored and so far prefeasibility study shows 125K ounces of gold so there is huge potential for resource to be increased with further drilling and exploration. Maybe Croinor turns out to be a multimillion ounce property.
https://www.monarquesgold.com/news-releases/monarch-gold-obtains-interim-order-for-plan-of-arrangement-with-yamana-gold
“The Company is currently very active, with four drills working at Beaufor on the current 42,500-metre drilling program, two drills at McKenzie Break for a new 14,500-metre program and one drill at Croinor Gold for a new 6,200-metre program. We have also launched NI 43-101 technical studies on the Beaufor, McKenzie Break and Swanson properties, as well as an internal study to assess the in-pit potential of the Croinor Gold deposit. All these activities will allow Monarch Mining Corporation to start 2021 in a very favourable position with promising gold projects and a $14 million cash position.”