RCKS Talk

Saturday, December 30, 2017 Derek Macpherson

MQR Updates Beaufor Technical Report; Highlights Short but Profitable Mine-Life

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Monarques Gold Corp. (TSXV:MQR) released an updated technical report for its Beaufor Mine, noting total gold production of 30,018 oz at 6.83 g/t Au over a 17-month mine life, in addition to 97.8k oz at 7.75 g/t Au in resources (M&I+I). Total operating costs, total cost per ounce and average operating costs are C$41.50 million, C$1,433/oz and C$1,383/oz, respectively, with an after-tax NPV (5%) of C$4.41 million and net cash flow of C$4.86 million. Results confirm the short-term modest profitability of the asset, along with the potential to materially extend the mine-life by upgrading existing resources. This also highlights the importance of recent acquisitions, that are planned future mill feed for the Camflo and Beacon mills. At C$15/oz, Monarques currently trades at a significant discount to peers (C$35/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of Richmont Mines’ assets nor does it account for the recent acquisition of Agnico Eagle’s assets. read more


Wednesday, December 27, 2017 Derek Macpherson

MQR Tuck’s in Two More Gold Projects

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Monarques Gold Corp. (TSXV:MQR) announced that it has entered into an agreement with Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) to acquire the McKenzie Break and Swanson properties (Figure 1). Terms of the agreement include a payment to Agnico Eagle of C$4.6M, which includes C$1.6M in cash and C$3M in common shares of Monarques over a four-year period. The acquisition of these properties adds additional potential ore sources to the company’s two mills (Camflo and Beacon). The McKenzie Break deposit has a historical estimate of 813,871 tonnes grading 6.63 g/t Au (173,500 oz Au) and the Swanson deposit contains a historical estimate of 814,600 tonnes grading 3.71 g/t Au (91,200 oz Au). The company intends to upgrade the historical estimates to NI 43-101 compliant resources and to explore the extensions of the mineralization. At C$16/oz, Monarques currently trades at a significant discount to peers (C$35/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of Richmont Mines’ assets nor does it account for the acquisition of Agnico Eagle’s assets.  read more


Thursday, December 14, 2017 Derek Macpherson

Monarques Releases Final Croinor Drill Results

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Monarques Gold Corp. (TSXV:MQR) reported final results from the 2017 drill program at its Croinor Gold deposit and Gold Bug sector. The drilling program included 26 holes totalling 9,388m of drilling on the Croinor Gold deposit and 26 holes totalling 5,457 metres in the Gold Bug sector. The company highlighted recent drill results of 13.1 g/t Au over 4m at a vertical depth of 58m, 7.84 g/t Au over 9m at a vertical depth of 197m and 7.76 g/t Au over 5.7 metres at a vertical depth of 203m. The drilling program was largely successful for the company as it was able to increase the size of the Croinor deposit, the mineralization remains open along strike and at depth. The company is planning to continue testing extensions of the mineralization at depth and to the east and west, in addition to conducting infill drilling in order to increase the indicated resource. At C$14/oz, Monarques currently trades at a significant discount to peers (C$34/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of the operating Beaufor mine and Camflo mill, along with the Wasamac project. read more


Thursday, December 07, 2017 Derek Macpherson

MQR Announces Custom Milling Contract

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Monarques Gold Corp. (TSXV:MQR) announced that it has entered a custom milling contract with Nottaway Resources Inc. to process ore from the company’s Vezza mine at the Camflo mill. The contract includes at least 15,000 tonnes of ore per month, for at least 180,000 tonnes in 2018. This contract will provide Monarques with stable revenue in 2018 and fits into the company’s goal of increasing profitability of operations. At C$12/oz, Monarques currently trades at a significant discount to peers (C$32/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of the operating Beaufor mine and Camflo mill, along with the Wasamac project.  read more


Monday, October 23, 2017 Derek Macpherson

RCKS 5th Annual Fall Mining Showcase Presenter Preview

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On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance.  read more


Thursday, August 31, 2017 Derek Macpherson

MQR Intersects New Zone; Drilling to Target Depth

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Monarques Gold Corp. (TSXV:MQR) reported drill results from the 2017 program designed to confirm geological interpretation and orientation of zones as well as to make new discovers at depth at the company’s Croinor Gold deposit. Hole CR-17-547 intersected a new zone returning 5.22 g/t Au over 3.0m including 8.41 g/t Au over 1.0m at a depth of 560m (Figure 1), indicating Croinor is open at depth and along strike . Going forward, the company is planning to drill test mainly at depth but also the area to the east and west of Croinor. In addition, infill drilling will fill in the resource gaps to increase the indicated category. At C$129/oz, Monarques currently trades at a premium to peers (C$52/oz). In our view, this valuation is supported by Croinor’s stage of development (pre-feasibility study) and the acquisition of the Beacon Mill. read more


Wednesday, August 16, 2017 Derek Macpherson

MQR Identifies Early Opportunity for Growth at Simkar

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Monarques Gold Corporation (TSXV:MQR) reported results from its 2,500m (4 holes) program on its Simkar Gold property east of Val-d’Or located near its Beacon mill (Figure 1). Drilling targeted the western extension of the “Diorite A” gold zone, returning good grades, as seen in hole SK-17-04 which included 15.85 g/t Au over 1.0m. The company plans to continue testing the area in the next phase of exploration, as it remains focused on increasing resources near its Beacon mill to optimize future production. At C$118/oz, Monarques currently trades at a premium to peers (C$60/oz). In our view, this valuation is supported by Croinor’s stage of development (pre-feasibility study), ongoing exploration success and the acquisition of the Beacon Mill. read more


Wednesday, June 14, 2017 Derek Macpherson

RCKS Montreal Mining Conference Presenter Preview

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On Thursday, June 22, 2017, Red Cloud Klondike Strike Inc. will be hosting its 2nd Montreal Mining Conference. The event features presentations from 7 companies, including lunch presentations from Chris Bradbrook discussing gold and industry outlook followed by a presentation from Osisko Mining Inc. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 7 presenting companies.  read more


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