Marathon Gold Corp (TSX: MOZ) (Pink: MGDPF) reviewed 10-01-2020
Market Cap: $357 M (USD)
Share Price: $1,74 (USD)
Shares outstanding: 189,341,000 (Jun 2020) Note: prob. closer to 200,000,000+
Cash: $54.0 M (CAD) 30 June 2020.
Credit facility: No details.
Long-term Debt: None
Current operations: No.
Administrative Expenses: Approx. $2.0M (CAD) per quarter year
Insiders: 25%
Website: marathon-gold.com
Investor Presentations: https://marathon-gold.com/investors/presentations/
President and CEO: Matt Manson
Operates in Newfoundland, Valentine Lake.
Large-scale gold project: 60,000 acres, 18-mile trendline.
Location and Jurisdiction are good.
Uncertain if this is fully permitted right now. If not, they have the cash to get that done.
Potential 4.2 M oz at 1.9 g/ton, and likely a huge 5+ M oz project when it’s all said and done.
2019 drill holes: 41-meters at 4.4 g/t and 24-meters at 6.9 g/t
2018 PEA to produce 200,000 oz annual was based on 1300 gold.
Bottom line:
- The company will likely be sold to a major for development.
- Franc-Nevada has done deep studies before acquiring a royalty.
- I really like the people; this was my #2 pick (after New Pacific) at PDAC 2019.
- No investment position, but considering it.