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Why Monarques Gold?
- A gold producer with the Beaufor Mine, located in one of the best mining jurisdictions in Canada.
- $9.8M in quarterly revenue
- A large portfolio of mining assets, including the Beaufor Mine, two mills (Camflo and Beacon), two advanced projects (Wasamac and Croinor Gold) and eight exploration projects covering more than 240 km2 in the Abitibi region.
- Upside potential and leverage to the gold price with the Wasamac project.
- NI 43-101 proven and probable reserves of 162,790 ounces of gold, measured and indicated resources of 1.76 million ounces and inferred resources of 1.67 million ounces
- Over 150 highly experienced, qualified employees will join the Monarques team.
- Strong financial position, with cash of $18.2 million
Q3 Highlights (March 31st)
- Produced 4,932 ounces of gold in its third quarter, a decrease of 9% from the 5,444 ounces produced the previous quarter, mainly due to the breakdown of ore haulage equipment at the Beaufor Mine and a planned shutdown for maintenance at the Camflo mill. As soon as the equipment was repaired, production resumed at the same pace as in the previous quarter.
- Revenues of $9.8 million in the third quarter, from the sale of 4,823 ounces of gold at an average price of $1,624 per ounce (US $1,284), combined with revenue from custom milling, which was up 17% for the quarter.
- Final results of its 2017 drilling program at the Beaufor Mine. The results were from 52 holes totalling 7,157 metres of drilling, including 5 exploration holes (2,651 metres) and 47 definition holes (4,506 metres). The holes were drilled on several areas of the mine, including Zone Q, Zone QH2, Zone 32, and projects 350H, 1700 and Granodiorite East (see press release dated March 27, 2018).
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