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Tuesday, January 24, 2017 Derek Macpherson

MQR's Gold Bug Results Shine

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Monarques Gold Corp. (TSXV:MQR) announced results from the first hole out of five that were drilled at the Gold Bug target as part of the recently completed 10km drill program on the company’s Croinor gold property. The results were highlighted by a wide, near-surface intercept of 25m that returned 8.41 g/t Au, including 36.10 g/t Au over 3m and 39.35 g/t Au over 2m. In our view, today’s results are an early indication of Gold Bug’s potential to add ounces and grow Croinor’s resource. At C$162/oz, Monarques currently trades at a premium to peers (C$69/oz). It is likely that further positive results from Gold Bug could provide additional momentum for the stock.  read more


Thursday, January 19, 2017 Derek Macpherson

MQR's Croinor Drill Results Highlight Potential

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Monarques Gold Corporation (TSXV:MQR) announced results from its now completed 10 km drill program at its Croinor Gold Project in Quebec. The campaign was focused on expanding the existing resource and testing satellite deposits, including Gold Bug. In our view, the results continue to demonstrate the reproducibility of historic results, highlighted by hole CR-16-512 that returned two intervals of 1m that intersected 43.3 g/t Au and 43.9 g/t Au in the vicinity of historic high-grade holes. While further assays are pending from Croinor and the Gold Bug target, multiple economic intercepts released to date (Figure 1) suggest resource growth is likely at Croinor. In our view the project’s potential exploration upside, coupled its stage of development (pre-feasibility), supports Monarques’ premium valuation (C$150/oz vs peers at C$67/oz). read more


Thursday, January 12, 2017 Derek Macpherson

MQR Intersects Above-Average Grades at Croinor's West

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Monarques Gold Corporation (TSXV:MQR) announced further results from its ongoing 10,000m drill program at its Croinor Gold Project in Quebec. Hole CR-16-506 tested Section 770W at Croinor’s relatively undrilled Western side. The hole returned 15.7 g/t Au over 0.7m within a wider 3.2m interval at a depth of 230m, which is 90m below the last developed level, 500 (Figure 1). These results continue to support our view that Croinor has the potential to grow at depth.  read more


Wednesday, January 04, 2017 Derek Macpherson

MQR Intersects High Grades at Croinor's South

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Monarques Gold Corporation (TSXV:MQR) announced results from an additional hole from the ongoing 10,000m drill program at its Croinor Gold Project in Quebec. Hole CR-16-505 was drilled to test the extension of Section 720W (Figure 1), extending the zone by 50m along strike and to a depth of 300m, which is at a similar depth to that of the current resource boundaries. Of note, the hole returned the highest grades that have been intersected during the ongoing drill campaign to date returning 58.6 g/t Au over 0.9m within a wider 2.3m interval. These results continue to support our view that the Croinor deposit has potential to grow at depth.  read more


Wednesday, November 09, 2016 Derek Macpherson

MQR’s Croinor Further Extended to Depth

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Monarques Gold Corporation (TSXV:MQR) announced results from the second hole, CR-16-489, of its ongoing 10,000m program at the company’s Croinor Gold Project in Quebec. This hole, which defined two previously known gold structures, is important as it intersected gold at a similar depth at which the current resource boundaries are, providing further indication of that the deposit remains open at depth. We expect the Croinor deposit to grow and expect the ongoing 10,000m drill program to demonstrate that potential, potentially providing a near-term catalyst for the stock.  read more


Wednesday, November 02, 2016 Derek Macpherson

Monarques Closes Beacon Transaction

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Monarques Gold Corporation (TSXV:MQR) reported that the company closed the acquisition of the Beacon property, including the Beacon mill and associated properties, for consideration of C$1 million in cash and 3,740,550 shares (~value C$1.4 million) along with deferred payments totalling US$2.4 million (US$ 402,500 every 6 months starting 30 months from closing). This puts the total cost of mill at ~C$5.6 million including the replacement of the reclamation bond. This is higher than in the LOI signed in July, which put the total cost at ~C$4.9 million including the replacement of the reclamation bond. In our view, it remains a well-priced acquisition, particularly considering that after our recent site visit, we only expected the mill restart to cost ~C$2-3 million and we expected milling costs for Croinor (~60 km away) to be reduced by 30-50%. Monarques continues to trade at a premium to peers (C$107/oz, peers C$69/oz) which we believe is warranted given Croinor’s stage of development (pre-feasibility study), the exploration potential of its various properties and the acquisition of Beacon. As well, we believe that exploration success from the current 10,000m drill program could provide further positive momentum for the stock.  read more


Wednesday, October 19, 2016 Derek Macpherson

Monarques Gold Stakes New Claims at Croinor

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Monarques Gold Corporation (TSXV:MQR) reported that it has staked 52 new mining claims around its Croinor Gold Project in Quebec which covers an additional 3,000 ha. These claims add ~25% to the total land package at Croinor and the company believes that prospective geology near its previous borders extends onto this newly acquired ground. More importantly, the company continues to drill both at the Croinor main deposit and at the Gold bug target, results of which are likely to be a catalyst for the stock. While Monarques continues to trade at a premium to peers (C$118/oz, peers C$73/oz) we believe this premium is justified given Croinor’s stage of development (pre-feasibility study), the planned acquisition of the Beacon Mill and the exploration potential of its various properties. As well, we believe that exploration success from the current 10,000m program could provide further positive momentum for the stock.  read more


Monday, October 10, 2016 Derek Macpherson

Initial Drill Results Extend MQR’s Croinor to Depth

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Monarques Gold Corporation (TSXV:MQR) announced the results from first drill hole of its 10,000m program at its Croinor Gold Project in Quebec. The hole returned 5.90 g/t Au over 4m including 18.4 g/t Au over 1m (CR16-484). This hole is important as it demonstrates that the Croinor deposit remains open at depth. Based on our site visit earlier this year, we expect the Croinor deposit to grow and expect the ongoing 10,000m drill program to demonstrate that potential. read more

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