Marathon Gold Announces 2018 Financial Results
Marathon Gold Corporation (MOZ-TSX) (“Marathon”) announced today its financial results for the year ended December 31, 2018.
Tag: Marathon Gold
Marathon Gold: Just Received The Franco-Nevada Stamp Of Approval
Excellent article by FI Fighter over at Seeking Alpha on Marathon Gold and the implications of the Franco-Nevada 18 million dollar 2% net smelter royalty purchase.
Marathon Gold Completes Sale of Royalty to Franco-Nevada for Proceeds of $18 Million
Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is excited to announce that it has closed the sale of a 2% net smelter returns royalty (the “NSR”) to Franco-Nevada Corporation (“Franco-Nevada”) (TSX, NYSE: FNV) linked to production at the Valentine Lake Gold Camp in central Newfoundland, for gross proceeds of CAD $18,000,000. The NSR applies to the entire Valentine Lake property and covers the sales of precious and base metals and minerals. Marathon has an option to buy back 0.5% of the NSR for US $7 million until December 31, 2022.
Marathon Gold 2018 Year in Review and 2019 Plans
Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ), a growth focused gold exploration and development company, provides a summary of our accomplishments in 2018 and plans for 2019.
Marathon Gold: Full Speed Ahead in Newfoundland
Marathon Gold (V.MOZ) has gone from being a gold explorer to a gold mine developer over the last two years. Phillip Walford, the company’s President and CEO, is supervising this transition and was very pleased with the company’s updated Preliminary Economic Assessment (PEA).
Marathon Gold Announces Substantial Improvements in Updated PEA with 44% Increase in Recovered Gold, at the Valentine Lake Gold Camp, Newfoundland
Marathon Gold Corporation (“Marathon” or the “Company”) (TSX: MOZ) is pleased to announce the excellent results from an updated independent Preliminary Economic Assessment study (“PEA”) on its 100% owned Valentine Lake Gold Camp that was led by John T. Boyd Company and Lycopodium Minerals Canada. The new PEA optimizes the development of the Valentine Lake Gold Camp mineral resource by open pit mining, and gold recovery by a combination of a milling circuit and heap leaching, incorporating gravity and flotation circuits with leaching of the concentrate and tails. The study is based on an initial 12-year mine life and produced an after- tax Net Present Value (“NPV”) of $493 million using a 5% discount rate. The financial model shows an after- tax Internal Rate of Return (“IRR”) of 30% and a capital payback period of 2.5 years. All dollar figures are reported in US$ and after-tax unless stated otherwise.