RCKS Talk

Thursday, March 01, 2018 Derek Macpherson

Monarques Significantly Reduces Costs at Beaufor

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Monarques Gold Corp. (TSXV:MQR) has reported financial results for FQ2 2018 (quarter-end December 31st), following first production results since acquiring the Beaufor Mine in October 2017. The company reported revenue of C$10.3 million, producing and selling 5,444 oz Au and generating a positive EBITDA of $0.5 million and reducing costs by 31% to C$1,338/oz sold. We are impressed that the company was able to report a profitable quarter, after only owning to Beaufor mine and Camflo mill for a single quarter. Exploration remains an important focus for the company in 2018, with the goal to increase reserves and extend mine life at Beaufor as well as increasing resources at Croinor. At C$20/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$40/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions and we believe the upcoming resource expansion drilling and technical studies should help close the valuation gap to peers. The company is focused on growth in 2018, to improve financial performance and expand resources. We believe 2018 will be an important year for the company, and as these next steps are realized should help close the valuation gap to peers. read more


Thursday, February 22, 2018 Derek Macpherson

Monarques to Drill 50,000m in 2018

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Monarques Gold Corp. (TSXV:MQR) is planning to drill 30,000m at Beaufor and 20,000m at Croinor to extend the mine life at Beaufor and increase the size of the deposit at Croinor. Drilling at the Beaufor mine will consist of 14,000m of infill drilling and 16,000m of exploration drilling to expand the projects resource base with the goal of extending the mine life. The main targets at Beaufor for 2018 drilling include Zone Q, Zone 1700, Zone 173, the western shear and the Beaufor fault at depth. The drilling program at Croinor is aimed at testing the mineralization to the east-west and at depth in addition to conducting infill drilling in areas with insufficient data. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$40/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions and we believe the upcoming resource expansion drilling and technical studies should help close the valuation gap to peers.  read more


Thursday, February 22, 2018 Derek Macpherson

RCKS Charts: NVO, GTT, MAW & MQR

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In this edition of RCKS Charts, Keith has evaluated Novo Resources Corp. (TSXV:NVO), GT Gold Corp. (TSXV:GTT), Mawson Resources Ltd. (TSX:MAW) and Monarques Gold Corp. (TSXV:MQR).  read more


Monday, February 12, 2018 Derek Macpherson

RCKS Charts: ASR, FM, TECK, WDO, MQR

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In this edition of RCKS Charts, Keith has evaluated Alacer Gold Corp. (TSX:ASR), First Quantum Minerals Ltd. (TSX:FM), Teck Resources Ltd. (NYSE:TECK), Wesdome Gold Mines Ltd. (TSX:WDO) and Monarques Gold Corp. (TSXV:MQR). So far in 2018, trading activity in our universe of mining and exploration stocks has been frustrating. Many names rallied into year-end then stalled and began fading as January unfolded. In many instances volumes fell off and momentum deteriorated as stocks pulled back or retraced their December strength. Fewer and fewer names had not succumbed to this drift particularly as market concerns intensified here in early February. Overall the activity in mining & exploration names, as frustrating as it has been, has not suggested a ‘race for the exits’ as much as a rotation of investor interest to other areas of the marketplace. That happens. We, however, remain constructive towards the improving, underlying trends in commodity sectors, notably metals/mining, and expect interest to return.  read more


Friday, February 09, 2018 Derek Macpherson

MQR Improves Economics with Updated Croinor PFS

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Monarques Gold Corp. (TSXV:MQR) reported an updated prefeasibility study (PFS) for its Croinor property near Val-d’Or, Quebec, improving project economics and highlighting an opportunity for growth. Reserves increased to 129,292 Au oz, outlining underground operations with average production of 31,472 Au oz annually over 3.6 years with after-tax NPV5% of C$18.3 million and IRR of 30%. At C$19/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$39/oz).  read more


Thursday, January 18, 2018 Derek Macpherson

MQR Reports First Production Results Since Beaufor Acquisition

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Monarques Gold Corp. (TSXV:MQR) reported FQ2 2018 (quarter-end December 31st) production results from its Beaufor Mine, the first set of production results since acquiring the asset in October 2017. Ore processed was 35,005 tonnes in Q2 2018 with production of 5,444oz Au, a 62% increase over the previous quarter (formerly operated by Richmont Mines Inc.), recording revenue of C$10.3 million. The Camflo mill operated at 72% capacity during the quarter (including toll milling), which the company plans to increase going forward and as demand increases, may restart the Beacon mill in later this calendar year. Exploration continues at Beaufor and its Croinor gold properties, with plans to establish programs and/or prepare technical reports for Wasamac, McKenzie Break and Swanson gold projects. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$34/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions. read more


Wednesday, January 17, 2018 Derek Macpherson

RCKS Charts: G, K, RNX, GQC, MQR, NM & SKE

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In this edition of RCKS Charts, Keith has evaluated Goldcorp Inc. (TSX:G), Kinross Gold Corp. (TSX:K), RNC Minerals (TSX:RNX), GoldQuest Mining Corp. (TSXV:GQC), Monarques Gold Corp. (TSXV:MQR), Northern Empire Resources Corp. (TSXV:NM) and Skeena Resources Ltd. (TSXV:SKE).  read more


Friday, January 12, 2018 Derek Macpherson

MQR Identifies Resource Growth Potential at Beaufor

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Monarques Gold Corp. (TSXV:MQR) reported results from exploration drilling at its Beaufor Mine, specifically the Zone Q and Zone 1700 sectors. Drilling in the Zone Q sector (Zone QH and QF) was conducted outside known mineralization, results were found to be similar to known veins at Beaufor, highlighted by 15.44 g/t Au over 3.0m, including 49.55 g/t Au over 0.8m (Hole 150-60a) and 61.48 g/t Au over 3.9m, including 361.0 g/t Au over 0.7m (Hole 150-61). Additional drilling is required in the Zone 1700 sector; however, results indicate the possibility of two new zones, highlighted by 10.75 g/t Au over 0.7m; 12.33 g/t Au over 1.6 metre, including 36.25 g/t Au over 0.5m (Hole 160-14) and 14.25 g/t Au over 0.5m (Hole 152-18). The company plans to continue testing mineralization in the east and at depth to increase resources at Beaufor. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$32/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of Richmont Mines’ Quebec assets.  read more


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