Date: June 10, 2021
Generation Mining is developing the Marathon Palladium project in Northwestern Ontario. Marathon is the largest undeveloped palladium project in North America. Most palladium demand is for autocatalysts in cars, which scrub toxic emissions from exhaust and therefore make our air much cleaner.
"It's not a metal of the future. It's a metal of now, and it will be used for the foreseeable future," says Executive Chairman and Director Kerry Knoll.
The Marathon Palladium & Copper project is located along the Trans-Canada Highway in Northwestern Ontario. Further, a March, 2021 Feasibility Study has indicated the project has a robust rate of return at forecast palladium prices. It also indicated that it will produce an average 245,000 ounces of Palladium Equivalent (PdEq) annually over a minimum 13-year mine life. Initial capital costs are estimated at C$665 million (US$520 million). Approximately 58% of the revenue will come from palladium, and a further 26% from copper. The remaining revenue will come from platinum, gold and silver. Operating costs are estimated at US$687 per ounce PdEq, while All-In-Sustaining-Costs are estimated at US$809 per ounce PdEq. During 2021, Generation Mining plans to continue the Environmental Approval process, initiating detail engineering on the project as well as arranging the production financing.
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