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Thursday, February 22, 2018 Derek Macpherson

RCKS Charts: NVO, GTT, MAW & MQR

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In this edition of RCKS Charts, Keith has evaluated Novo Resources Corp. (TSXV:NVO), GT Gold Corp. (TSXV:GTT), Mawson Resources Ltd. (TSX:MAW) and Monarques Gold Corp. (TSXV:MQR).  read more


Thursday, February 22, 2018 Derek Macpherson

Monarques to Drill 50,000m in 2018

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Monarques Gold Corp. (TSXV:MQR) is planning to drill 30,000m at Beaufor and 20,000m at Croinor to extend the mine life at Beaufor and increase the size of the deposit at Croinor. Drilling at the Beaufor mine will consist of 14,000m of infill drilling and 16,000m of exploration drilling to expand the projects resource base with the goal of extending the mine life. The main targets at Beaufor for 2018 drilling include Zone Q, Zone 1700, Zone 173, the western shear and the Beaufor fault at depth. The drilling program at Croinor is aimed at testing the mineralization to the east-west and at depth in addition to conducting infill drilling in areas with insufficient data. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$40/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions and we believe the upcoming resource expansion drilling and technical studies should help close the valuation gap to peers.  read more


Monday, February 12, 2018 Derek Macpherson

RCKS Charts: ASR, FM, TECK, WDO, MQR

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In this edition of RCKS Charts, Keith has evaluated Alacer Gold Corp. (TSX:ASR), First Quantum Minerals Ltd. (TSX:FM), Teck Resources Ltd. (NYSE:TECK), Wesdome Gold Mines Ltd. (TSX:WDO) and Monarques Gold Corp. (TSXV:MQR). So far in 2018, trading activity in our universe of mining and exploration stocks has been frustrating. Many names rallied into year-end then stalled and began fading as January unfolded. In many instances volumes fell off and momentum deteriorated as stocks pulled back or retraced their December strength. Fewer and fewer names had not succumbed to this drift particularly as market concerns intensified here in early February. Overall the activity in mining & exploration names, as frustrating as it has been, has not suggested a ‘race for the exits’ as much as a rotation of investor interest to other areas of the marketplace. That happens. We, however, remain constructive towards the improving, underlying trends in commodity sectors, notably metals/mining, and expect interest to return.  read more


Friday, February 09, 2018 Derek Macpherson

MQR Improves Economics with Updated Croinor PFS

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Monarques Gold Corp. (TSXV:MQR) reported an updated prefeasibility study (PFS) for its Croinor property near Val-d’Or, Quebec, improving project economics and highlighting an opportunity for growth. Reserves increased to 129,292 Au oz, outlining underground operations with average production of 31,472 Au oz annually over 3.6 years with after-tax NPV5% of C$18.3 million and IRR of 30%. At C$19/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$39/oz).  read more


Thursday, January 18, 2018 Derek Macpherson

MQR Reports First Production Results Since Beaufor Acquisition

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Monarques Gold Corp. (TSXV:MQR) reported FQ2 2018 (year-end December 31st) production results from its Beaufor Mine, the first set of production results since acquiring the asset in October 2017. Ore processed was 35,005 tonnes in Q2 2018 with production of 5,444oz Au, a 62% increase over the previous quarter (formerly operated by Richmont Mines Inc.), recording revenue of C$10.3 million. The Camflo mill operated at 72% capacity during the quarter (including toll milling), which the company plans to increase going forward and as demand increases, may restart the Beacon mill in later this calendar year. Exploration continues at Beaufor and its Croinor gold properties, with plans to establish programs and/or prepare technical reports for Wasamac, McKenzie Break and Swanson gold projects. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$34/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions. read more


Wednesday, January 17, 2018 Derek Macpherson

RCKS Charts: G, K, RNX, GQC, MQR, NM & SKE

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In this edition of RCKS Charts, Keith has evaluated Goldcorp Inc. (TSX:G), Kinross Gold Corp. (TSX:K), RNC Minerals (TSX:RNX), GoldQuest Mining Corp. (TSXV:GQC), Monarques Gold Corp. (TSXV:MQR), Northern Empire Resources Corp. (TSXV:NM) and Skeena Resources Ltd. (TSXV:SKE).  read more


Friday, January 12, 2018 Derek Macpherson

MQR Identifies Resource Growth Potential at Beaufor

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Monarques Gold Corp. (TSXV:MQR) reported results from exploration drilling at its Beaufor Mine, specifically the Zone Q and Zone 1700 sectors. Drilling in the Zone Q sector (Zone QH and QF) was conducted outside known mineralization, results were found to be similar to known veins at Beaufor, highlighted by 15.44 g/t Au over 3.0m, including 49.55 g/t Au over 0.8m (Hole 150-60a) and 61.48 g/t Au over 3.9m, including 361.0 g/t Au over 0.7m (Hole 150-61). Additional drilling is required in the Zone 1700 sector; however, results indicate the possibility of two new zones, highlighted by 10.75 g/t Au over 0.7m; 12.33 g/t Au over 1.6 metre, including 36.25 g/t Au over 0.5m (Hole 160-14) and 14.25 g/t Au over 0.5m (Hole 152-18). The company plans to continue testing mineralization in the east and at depth to increase resources at Beaufor. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$32/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of Richmont Mines’ Quebec assets.  read more


Saturday, December 30, 2017 Derek Macpherson

MQR Updates Beaufor Technical Report; Highlights Short but Profitable Mine-Life

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Monarques Gold Corp. (TSXV:MQR) released an updated technical report for its Beaufor Mine, noting total gold production of 30,018 oz at 6.83 g/t Au over a 17-month mine life, in addition to 97.8k oz at 7.75 g/t Au in resources (M&I+I). Total operating costs, total cost per ounce and average operating costs are C$41.50 million, C$1,433/oz and C$1,383/oz, respectively, with an after-tax NPV (5%) of C$4.41 million and net cash flow of C$4.86 million. Results confirm the short-term modest profitability of the asset, along with the potential to materially extend the mine-life by upgrading existing resources. This also highlights the importance of recent acquisitions, that are planned future mill feed for the Camflo and Beacon mills. At C$15/oz, Monarques currently trades at a significant discount to peers (C$35/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of Richmont Mines’ assets nor does it account for the recent acquisition of Agnico Eagle’s assets. read more


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