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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

Monday, May 15, 2017 Derek Macpherson

Eldorado Comes to Canada; To Acquire ICG

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Integra Gold Corp. (TSXV:ICG) and Eldorado Gold Corp. (TSX:ELD, NYSE:EGO) announced that they have entered into a definitive agreement for Eldorado to acquire Integra for ~C$1.21 per share in either Eldorado shares (0.24250 Eldorado shares), cash of C$1.21250 or cash and shares (0.18188 and C$0.30313). Compensation available to Integra shareholders is limited to C$129 million in cash (~25% of the transaction). The offer by Eldorado represents a 52% premium of the May 12, 2017 close, and a 46% premium based on the 20-day volume weighted average price (VWAP). This consideration represents, 1.0x NAV and US$122/oz, which is a premium to precedent transactions (0.7x NAV and US$41/oz). With this being a friendly transaction and taking into account the valuation, we believe there is a low probability (~10-15%) of a higher bid materializing from one of the larger players in the region or a new entrant. However, this should benefit smaller regional players like Radisson Mining Resources Inc. (TSXV:RDS), Monarques Gold Corp. (TSXV:MQR), Probe Metals Inc. (TSXV:PRB), QMX Gold Corp. (TSXV:QMX) and Alexandria Minerals Corp. (TSXV:AZX) and continues to highlight the scarcity of political stable development projects as we have previously highlightedread more

Thursday, April 27, 2017 Derek Macpherson

MQR Advances Exploration at Croinor & Gold Bug

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Monarques Gold Corporation (TSXV:MQR) announced it is increasing the size of its ongoing drill program due to recent drill success. The company has identified 26 drill targets to be prioritized at the Croinor property and launched an 8-hole program at Gold Bug. Subsequent to the discovery made in January, on April 4, 2017, drilling at Gold Bug confirmed a 15m wide shear corridor with a vertical depth of 115m containing anomalous gold grades, returning 6.96 g/t Au over 15 metres, including 17.1 g/t Au over 5.9 metres. The company is focused on increasing current resources at Croinor, and developing the project towards production. To that end, the company has completed a number of smaller development tasks, including permitting a powerline to service the Croinor Gold mine site. In addition, drilling at Simkar is now complete (4 holes, totalling 3,000m), results are still pending. At C$117/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 recent acquisition of the Beacon Mill. read more

Saturday, February 04, 2017 Derek Macpherson

MQR Releases More Results from Croinor & Gold Bug

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Monarques Gold Corporation (TSXV:MQR) announced the second last set of drill results from the 10km drill program completed in 2016 at its Croinor gold project in Quebec. Today’s results included assays from both Croinor and the Gold Bug target and were highlighted by hole CR-16-515 that returned 46.6 g/t Au over 0.6m within a wider interval of 2.8m that returned 11.91 g/t Au from Section 490W at Croinor. Results from Gold Bug continue to highlight this new discovery’s potential and while it is early days, this set of results was not as impressive as the previous hole. We continue to view exploration results from the Croinor deposit and Gold Bug target favourably, and believe resource growth is likely. The company plans to follow-up on its 2016 drill program with another 10km program in early 2017. Monarques continues to trade at a premium to peers, which reflects its resource growth potential, stage of development (pre-feasibility) and recently acquired mill.  read more

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


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