Welcome to our dedicated page for MONARCH MINING news (Ticker: GBARF), a resource for investors and traders seeking the latest updates and insights on MONARCH MINING stock.
Monarch Mining Corporation (GBARF) is a leading mining company specializing in gold exploration and production. With a focus on sustainable practices and community engagement, Monarch has established itself as a key player in the mining industry. The company's recent achievements include successful drilling campaigns, expansion of existing projects, and strategic partnerships with other industry leaders. Monarch Mining Corp's strong financial performance and commitment to responsible mining make it a reliable investment option for those seeking exposure to the gold sector.
Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) reported Q1 results for the period ending September 30, 2022. Revenues reached $2,005,605, with a loss from mine operations of $14,666,534. Total assets decreased to $80,155,434 from $93,895,219 in the previous quarter. Monarch faces challenges, requiring additional financing to meet obligations. As of September 30, cash and cash equivalents were $2,466,986, down from $10,339,558. A strategic review has begun to explore options including asset sales or mergers.
Monarch Mining Corporation has reported promising results from its Swanson gold project drilling program, revealing high-grade gold assays. Notably, hole SW-22-025 showed 11.07 g/t Au over 7.40 m within a broader 101.85 m zone averaging 1.76 g/t Au. Hole SW-22-024 also reported significant results, including 27.8 g/t Au over 0.60 m. The drilling, completed on August 29, 2022, tested to a depth of 430 m, with further assays pending. The project, comprising 127 claims over 5,125.8 ha, reinforces Monarch’s strategy to extend mineralization exploration.
Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced its financial results for the fourth quarter and year ending June 30, 2022. The company reported a net loss of 22.67 million CAD for the quarter, translating to a 0.26 CAD loss per share. Cash and cash equivalents fell to 10.34 million CAD from 20.48 million CAD year-over-year. Total assets increased to 93.90 million CAD, up from 64.42 million CAD. Monarch owns significant gold resources, with measured and indicated resources totaling 666,882 ounces and inferred resources of 423,193 ounces.
On September 27, 2022, Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced the suspension of operations at its Beaufor Mine due to financial and operational challenges. The mine will be placed on care and maintenance indefinitely. Slower ramp-up at the Beacon mill, coupled with significant discrepancies in the reported grades of mined material, has resulted in lower-than-expected cash flow. Monarch plans to process a 20,000-tonne stockpile before further maintenance actions and is conducting a strategic review of operations to secure funding.
Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) recently filed a technical report for its Croinor Gold project, revealing significant mineral resources. The Measured and Indicated resources are estimated at 903,600 tonnes, averaging 6.47 g/t Au, totaling 187,900 ounces, while Inferred resources are 200,100 tonnes at 6.19 g/t Au for 39,800 ounces. This new estimate contributes to a 39% increase in combined Measured and Indicated resources to 666,882 ounces and a 10% increase in Inferred resources to 423,193 ounces, all near Monarch's Beacon Mill.
Monarch Mining Corporation reported promising initial gold assay results from its ongoing 2022 McKenzie Break drilling program. Hole MK-22-326A intersected 5.69 g/t Au over 9.69 m. Other notable intersections included 35.15 g/t Au over 0.95 m (MK-22-327) and 16.50 g/t Au over 0.78 m (MK-22-329). With three drills operating, a total of 29 holes have been drilled, targeting an expansion of the proposed pit limits to the west. These results indicate the potential to extend the current resource beyond previous estimates, showcasing that mineralization remains open in all directions.
Monarch Mining Corporation (TSX: GBAR) has reported additional high-grade gold assay results from its Swanson drilling program, revealing multiple mineralized zones. Notably, hole SW-22-022 showed 7.83 g/t Au over 8.82 m within a broader zone of 0.99 g/t Au over 237.82 m. Other highlights included 10.25 g/t Au over 0.50 m and 11.05 g/t Au over 1.0 m in separate holes. The program, which concluded on August 29, 2022, is the first since Monarch acquired the property in 2017, covering 5,125.8 ha. Final results for eight remaining holes are pending, and the mineralization appears to be widening at depth.
MONARCH MINING CORPORATION (TSX: GBAR) announced a slowdown of mining operations at its Beaufor Mine in Quebec due to cash flow restrictions. The Beacon Mill's ramp-up has faced mechanical issues and low-grade ore, reducing its operational capacity to 50% in recent months. The company plans to optimize mining methods while processing over 20,000 tonnes of stockpiled ore. CEO Jean-Marc Lacoste acknowledged COVID-19's impact on production but is optimistic about resolving the issues temporarily.
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) has announced significant high-grade gold assays from its Swanson drilling program for 2021-2022. The latest results from hole SW-22-023 yielded an impressive 18.18 g/t Au over 13.5 m, with peak intervals of 117.91 g/t Au over 2.0 m. This drilling, the first since acquiring the property, aims to explore gold mineralization beyond existing resource estimates. Of the 31 holes drilled, final assay results for 14 remain pending, as the company aims to define the deposit's plunge trend and potential resource expansion.
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) announced a significant increase in gold resources at its Croinor Gold project, with a Measured and Indicated resource of 903,600 tonnes at an average grade of 6.47 g/t Au, totaling 187,900 ounces. The Inferred resource also increased to 200,100 tonnes at 6.19 g/t Au, amounting to 39,800 ounces. This marks a 39% increase in Measured and Indicated resources and a 10% rise in Inferred resources, bolstering the company's development prospects.
FAQ
What is the market cap of MONARCH MINING (GBARF)?
What is Monarch Mining Corporation (GBARF) known for?
What recent achievements has Monarch Mining Corporation (GBARF) made?
How is Monarch Mining Corporation (GBARF) performing financially?
Why is Monarch Mining Corporation (GBARF) considered a key player in the mining industry?
What sets Monarch Mining Corporation (GBARF) apart from other mining companies?
What can investors expect from Monarch Mining Corporation (GBARF) in the future?
Are there any notable partnerships that Monarch Mining Corporation (GBARF) has formed?
How does Monarch Mining Corporation (GBARF) contribute to the mining industry?
What makes Monarch Mining Corporation (GBARF) a reliable investment option?