Monarch Gold: Impressive Portfolio of Gold Real Estate in Abitibi
Building one of the biggest portfolios of gold real estate in Abitibi
Monarch Gold is an emerging Canadian gold mining company. They aim to be a 100,000-200,000-ounce per year gold producer. Further, the Company has a portfolio of high-quality projects covering over 315 km² in the Abitibi mining camp in Quebec, Canada.
“Monarch Gold started in 2012, and we spent the last seven years building one of the biggest portfolios of gold real estate in Abitibi,” says President and CEO, Jean-Marc Lacoste.
The Company now owns close to 315 km² in the region that comprises of six properties for a total of 3.2 million ounces of underground gold.
Magna’s flagship project is the Wasamac. It was acquired from Richmont Mines in 2017 and has a measured and indicated resource of 2.6 million ounces. Markedly, that’s only at a depth of 800 metres. “The reason why it’s so exciting is it offers a lot more depth potential,” says Lacoste.
The Company also has five other projects that are all advancing to the development and production stage. Additionally, all of these projects have high-grade material. Furthermore, they’re all centred around the two milling facilities that Magna owns near Val-d D’Or. The Company believes that these smaller projects will definitely generate cash flow to advance the Wasamac project.
“We’re in a very comfortable position and a great place of entry for somebody who is looking for a progressing stock in the coming years,” says Lacoste.
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