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Moneta Porcupine (TSX: ME) Investor Update
Dec 18, 2020
) 
) 
Congratulations you two - Well done - All it took was some patience (and your solid dd) !
Don't think I could've held on thru that full drop......My entry-price wasn't too good.
2014
Moneta Porcupine (TSX: ME) Investor Update
•Streamed live on Dec 15, 2020
) ) Moneta Porcupine Mines Inc (TSX:ME)
RE:RE:Price$/OZ
This stock is still excessively cheap, even after the current run.
New resources came outDecember 10th.
ME-PR-24-2020.pdf (monetaporcupine.com)
Now the stock price closed at 14 cents on Dec 9. So
$0.14 X (Shares count fully diluted) 365,400,000) = MCAP $51,156,000/(Previous resource) 2,063,500 = $23.52
So the cost was $23.52 per OZ
If we keep the current $23.52 oz number and apply it
to the new resource of 5,479,000
$23.52 X 5,479,000 = MCAP $128,852,560 /
(Shares count fully diluted) 365,400,000)=
Share Price $.35
So just to get to the same price per oz from before the new resource
was announced the price needs to start from $.35 just to be
even to the previous resource level.
If we use $50 per OZ = $0.75
OR
If we use $100 per OZ = $1.50
Any way you slice it, this is just starting to get going.
Enjoy the ride!
by CharlieWaffles (153) @ sth. )
Well Funded Gold Junior Adding Ounces in Ontario
•Dec 9, 2020
) Well Funded Gold Junior Adding Ounces in Ontario
•Dec 9, 2020
) Moneta Reports 2,144,200 oz Gold Indicated and 3,335,300 oz Gold
Inferred Resources in NI 43-101 Golden Highway Resource Update
T.ME | 6 hours ago
Toronto, Ontario--(Newsfile Corp. - December 10, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP)
("Moneta" or the "Company") is pleased to provide an updated mineral
resource estimate for the 100% owned Golden Highway Project, located
100 km east of Timmins, Ontario. The update is based on the latest
drill program completed during the first half of 2020 (see Figure 1 and
Table 1).
Highlights of Updated Golden Highway Mineral Resource Estimate:
217% increase in total contained gold (Au) to 2,144,200 ounces (oz)
(combined underground and open pit) in the indicated category on the
Golden Highway Project
141% increase in total contained Au to 3,335,300 oz (combined
underground and open pit) in the inferred category at Golden Highway
A maiden inferred underground resource of 661,900 oz at a grade of
4.71 grams per tonne (g/t) Au at
the new Westaway/West Block discovery at a 3.00 g/t Au cut-off
Total indicated underground resource of 632,300 oz at a grade of
4.05 g/t Au on the Golden Highway Project
Total inferred underground resource of 2,128,100 oz at a grade of
4.21 g/t Auon the Golden Highway Project
Includes a new open pit resource of 1,511,900 oz indicated
at 0.93 g/t Au and 1,207,200 oz inferred at
1.10 g/t Au at Windjammer South and
55 at a 0.30 g/t Au cut-off
https://investorshub.advfn.com/Moneta-Porcupine-Mines-Inc-TSX-ME-5495/
KL Gold sets sights on Timmins for regional office
‘We can see somewhere between 120 to 175 people working over there’
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: November 29, 2020 | Last Updated: November 30, 2020 11:05 AM EST
Tony Makuch, president and CEO of Kirkland Lake Gold, is seen here during a presentation at Northern College in Timmins in December 2019. Makuch was the keynote speaker this past week for the Timmins Chamber's State of Mining presentation. RICHA BHOSALE/The Daily Press , TD
Kirkland Lake Gold views Timmins as an integral part of the company’s future according to its president and chief executive officer Tony Makuch.
Makuch, a native of Timmins, has more than 30 years of experience as a mining engineer.
He joined KL Gold in July 2016. Before that, he was the CEO of Lake Shore Gold from 2008 until 2016, when it was acquired by Tahoe Resources.
This past week, he was the guest speaker for the latest edition of The State of Mining — a series of discussions hosted by the Timmins Chamber of Commerce over the video conferencing platform Zoom.
Makuch covered many topics throughout his presentation. He said the company is “industry leading” in terms of financial strength.
“We are the only gold company with no debt whatsoever on the balance sheet. Very clean company. Three very strong, profitable mines that we’re investing strongly in.”
KL Gold’s three operating mines are the Macassa Mine near Kirkland Lake, Detour Lake Mine near Cochrane, and the Fosterville Mine in southeastern Australia.
Makuch said there is much excitement about the company right now, and that they are continuing strong work in development and exploration.
“We’ve had a lot of success at Fosterville since 2016 to 2020; a lot of success at Macassa from 2016 to 2020. I think over the next few years, we’re really going to see how we can take Detour from something that nobody wanted to buy, nobody thought was any good and turn it into something that is really a cornerstone asset.”
Makuch referenced some “negative views” by some in the mining world on KL Gold’s acquisition of Detour Lake, which was completed in January, but stated he and his team are very confident in the future of that project.
Regarding how these projects could benefit Timmins, Makuch was asked by a Chamber member about KL Gold’s investment in the city, in particular a regional office.
“We want to take a lot of the jobs that were done in Toronto and move them closer to site,” said Makuch. “Certainly there are a lot of jobs that were happening at the site that we see we don’t always need them at site. They’d actually be better, more comfortable, management and such, at a central location.
“Timmins fits for us for a number of reasons. It is the regional centre. You have a lot of services, especially air services in Timmins, so the logistics of bringing people in and out helps. We’re looking at it from that perspective.”
Makuch talked about running Detour Lake differently, and that they genuinely want to grow the local and regional economy as much as possible.
“We’re trying to recruit from Northeastern Ontario, from the region, as much as possible, as opposed to across Canada.”
Another exciting development mentioned by Makuch was the goal of building an airstrip near the Detour Lake site.
“We want to start flying people in and out to the mine site, as opposed to busing. Combined travel time to the workplace currently sits around 3½ hours. By the time people show up at the Cochrane bus terminal and get bused up to site, it’s a significant amount of time. We’re trying to improve the logistics on that. Trying to be more centralized,” he said.
“People come to work at Detour; they’re already going to be 14 days away from home. Then I’m asking you to take a half a day, or a day, to get to work, and then a half a day, or a day, to get home. I think that’s not really proper.”
Makuch made an interesting point about the overall picture for the average worker, as it relates to home and family life.
“Work is a necessary evil that we have to do, to do what we really want to do.”
He then elaborated on the plans for the regional office in Timmins.
“The concept is, there’s a lot of our G&A staff (general and administrative), payroll, human resources, benefits, management, engineering, technical services, even our exploration group, are sort of working in a variety of different areas.”
The idea is for the company to consolidate those jobs into one area, and felt Timmins would be the right fit.
“We had satellite offices in a few areas in the region, we had some people in Kirkland Lake travelling back and forth from Timmins, or flying in from Toronto, we had people up at Detour and in Cochrane,” he said.
“Our goal is to build a regional office in Timmins. We need that continuity in management.”
In the meantime, they have been renting several smaller office spaces throughout the city and region, including one on Birch Street South.
Residents shouldn’t expect to see a shiny downtown office building, however.
“We’ve purchased a piece of land we want to build on at the corner of Highway 655 and Laforest Road. It’s very central for us. Logistically, it’s not far from the airport, and it’s on direct road access through to Cochrane. That’s the goal.”
When and if that office does come to fruition, it will be a big boost for the city, he said.
“We can see somewhere between 120 to 175 people working over there,” said Makuch.
“We want to build the region, and we want to grow here and encourage people to come.”
https://www.timminspress.com/news/local-news/kl-gold-sets-sights-on-timmins-for-regional-office
Kirkland Lake Gold (TSX:KL) sets sights on Timmins for regional office -
Sun., November 29, 2020, 2:53 p.m. PST·5 min read -
https://ca.news.yahoo.com/kl-gold-sets-sights-timmins-225324908.html
bigone; well Kirkland Lake Gold and Moneta Porcupine ME and
KL shares properties and both have properties beside each other;
Richest Real Money Pit Of The World -
The Golden Horse Shoe Bellow James Bay -
https://digigeodata.com/area/timmins/
THE MONETA REAl MONEY )
Moneta Files NI 43-101 Technical Report on the
Preliminary Economic Assessment Study of
the South West Deposit, Golden
Highway Project
https://www.monetaporcupine.com/press-releases-2020/
https://www.monetaporcupine.com/corporate-presentation/
https://www.monetaporcupine.com/projects-overview/
https://www.monetaporcupine.com/
Toronto, Ontario--(Newsfile Corp. -
October 22, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP) ("Moneta" or the "Company") is pleased to announce the filing of the technical report covering the Preliminary Economic Assessment "PEA" study on the South West deposit located in the Golden Highway Project, 110 km east of Timmins, Ontario.
"We are pleased to have filed the Technical Report which supports the positive results from the preliminary economic assessment of the South West deposit and its robust project economics including an NPV5% of C$236 million and IRR of 30% at US$1,500 ounce gold," commented Moneta CEO, Gary O'Connor.
"The PEA study assumed underground extraction at only our South West deposit and has shown the potential to produce up to 85,700 ounces per annum at a cash cost of US$590 per ounce, with low initial capital of C$144 million repaid over 3.4 years with annual after tax cash flow of C$49 million.
The excellent economics are afforded by the project's location in Canada's most prolific gold mining camp, Timmins Ontario, with extensive existing infrastructure and experienced and available services and workforce.
We are now focussing on expanding the adjacent deposits and discovering new zones of gold mineralization with the start of our new 20,000 m drill program designed to continue to add value to the Golden Highway Project with a growing resource base.
In addition to following up the three new discoveries from earlier this year, Moneta is currently updating the Windjammer South, 55 and new Westway resource estimates, expected to be released before the end of 2020."
The Technical Report dated October 21, 2020 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website ( www.monetaporcupine.com ) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Richard M. Gowans, P.Eng., Mr. Barnard Foo, P.Eng., Mr. Christopher Jacobs, MIMMM, Mr. David Makepeace, P.Eng., and Mr. Nigel Fung, P.Eng., of Micon International Ltd. of Toronto, Canada, who are considered "Qualified Persons" under NI 43-101.
The new technical report covers and supports the technical and scientific disclosure as contained in the new PEA study reported in Moneta's press release dated September 09, 2020 entitled "Moneta announces positive results from Preliminary Economic Assessment study on South West Deposit."
Qualified Person
Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002.jpg
Figure 1: Golden Highway Project: Location of Deposits and Targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002full.jpg
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located
along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with
over 85 million ounces of past gold production.
The main Golden Highway Project covers 12 km of prospective ground along
the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate
comprised of an indicated resource of 676,900 ounces gold contained
within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold
contained within 10.78 Mt @ 4.00 g/t Au in the inferred category
at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits.
A PEA study completed on the South West Deposit, one of 6 deposits located
on the Golden Highway project, highlighted an 11-year mine life with an
after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback,
generating C$371MM LOM after-tax free cash flow.
The project envisaged underground mining producing 76,000 oz/pa at a cash
cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetaporcupine.com
or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66555
Newsfile Corp.
October 22, 2020 - 5:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
KL Gold sets sights on Timmins for regional office
‘We can see somewhere between 120 to 175 people working over there’
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: November 29, 2020 | Last Updated: November 30, 2020 11:05 AM EST
Tony Makuch, president and CEO of Kirkland Lake Gold, is seen here during a presentation at Northern College in Timmins in December 2019. Makuch was the keynote speaker this past week for the Timmins Chamber's State of Mining presentation. RICHA BHOSALE/The Daily Press , TD
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Kirkland Lake Gold views Timmins as an integral part of the company’s future according to its president and chief executive officer Tony Makuch.
Makuch, a native of Timmins, has more than 30 years of experience as a mining engineer.
He joined KL Gold in July 2016. Before that, he was the CEO of Lake Shore Gold from 2008 until 2016, when it was acquired by Tahoe Resources.
This past week, he was the guest speaker for the latest edition of The State of Mining — a series of discussions hosted by the Timmins Chamber of Commerce over the video conferencing platform Zoom.
Makuch covered many topics throughout his presentation. He said the company is “industry leading” in terms of financial strength.
“We are the only gold company with no debt whatsoever on the balance sheet. Very clean company. Three very strong, profitable mines that we’re investing strongly in.”
KL Gold’s three operating mines are the Macassa Mine near Kirkland Lake, Detour Lake Mine near Cochrane, and the Fosterville Mine in southeastern Australia.
Makuch said there is much excitement about the company right now, and that they are continuing strong work in development and exploration.
“We’ve had a lot of success at Fosterville since 2016 to 2020; a lot of success at Macassa from 2016 to 2020. I think over the next few years, we’re really going to see how we can take Detour from something that nobody wanted to buy, nobody thought was any good and turn it into something that is really a cornerstone asset.”
Makuch referenced some “negative views” by some in the mining world on KL Gold’s acquisition of Detour Lake, which was completed in January, but stated he and his team are very confident in the future of that project.
Regarding how these projects could benefit Timmins, Makuch was asked by a Chamber member about KL Gold’s investment in the city, in particular a regional office.
“We want to take a lot of the jobs that were done in Toronto and move them closer to site,” said Makuch. “Certainly there are a lot of jobs that were happening at the site that we see we don’t always need them at site. They’d actually be better, more comfortable, management and such, at a central location.
“Timmins fits for us for a number of reasons. It is the regional centre. You have a lot of services, especially air services in Timmins, so the logistics of bringing people in and out helps. We’re looking at it from that perspective.”
Makuch talked about running Detour Lake differently, and that they genuinely want to grow the local and regional economy as much as possible.
“We’re trying to recruit from Northeastern Ontario, from the region, as much as possible, as opposed to across Canada.”
Another exciting development mentioned by Makuch was the goal of building an airstrip near the Detour Lake site.
“We want to start flying people in and out to the mine site, as opposed to busing. Combined travel time to the workplace currently sits around 3½ hours. By the time people show up at the Cochrane bus terminal and get bused up to site, it’s a significant amount of time. We’re trying to improve the logistics on that. Trying to be more centralized,” he said.
“People come to work at Detour; they’re already going to be 14 days away from home. Then I’m asking you to take a half a day, or a day, to get to work, and then a half a day, or a day, to get home. I think that’s not really proper.”
Makuch made an interesting point about the overall picture for the average worker, as it relates to home and family life.
“Work is a necessary evil that we have to do, to do what we really want to do.”
He then elaborated on the plans for the regional office in Timmins.
“The concept is, there’s a lot of our G&A staff (general and administrative), payroll, human resources, benefits, management, engineering, technical services, even our exploration group, are sort of working in a variety of different areas.”
The idea is for the company to consolidate those jobs into one area, and felt Timmins would be the right fit.
“We had satellite offices in a few areas in the region, we had some people in Kirkland Lake travelling back and forth from Timmins, or flying in from Toronto, we had people up at Detour and in Cochrane,” he said.
“Our goal is to build a regional office in Timmins. We need that continuity in management.”
In the meantime, they have been renting several smaller office spaces throughout the city and region, including one on Birch Street South.
Residents shouldn’t expect to see a shiny downtown office building, however.
“We’ve purchased a piece of land we want to build on at the corner of Highway 655 and Laforest Road. It’s very central for us. Logistically, it’s not far from the airport, and it’s on direct road access through to Cochrane. That’s the goal.”
When and if that office does come to fruition, it will be a big boost for the city, he said.
“We can see somewhere between 120 to 175 people working over there,” said Makuch.
“We want to build the region, and we want to grow here and encourage people to come.”
https://www.timminspress.com/news/local-news/kl-gold-sets-sights-on-timmins-for-regional-office
Kirkland Lake Gold (TSX:KL) sets sights on Timmins for regional office -
Sun., November 29, 2020, 2:53 p.m. PST·5 min read -
https://ca.news.yahoo.com/kl-gold-sets-sights-timmins-225324908.html
bigone; well Kirkland Lake Gold and Moneta Porcupine ME and
KL shares properties and both have properties beside each other;
Richest Real Money Pit Of The World -
The Golden Horse Shoe Bellow James Bay -
https://digigeodata.com/area/timmins/
THE MONETA REAl MONEY )
Moneta Files NI 43-101 Technical Report on the
Preliminary Economic Assessment Study of
the South West Deposit, Golden
Highway Project
https://www.monetaporcupine.com/press-releases-2020/
https://www.monetaporcupine.com/corporate-presentation/
https://www.monetaporcupine.com/projects-overview/
https://www.monetaporcupine.com/
Toronto, Ontario--(Newsfile Corp. -
October 22, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP) ("Moneta" or the "Company") is pleased to announce the filing of the technical report covering the Preliminary Economic Assessment "PEA" study on the South West deposit located in the Golden Highway Project, 110 km east of Timmins, Ontario.
"We are pleased to have filed the Technical Report which supports the positive results from the preliminary economic assessment of the South West deposit and its robust project economics including an NPV5% of C$236 million and IRR of 30% at US$1,500 ounce gold," commented Moneta CEO, Gary O'Connor.
"The PEA study assumed underground extraction at only our South West deposit and has shown the potential to produce up to 85,700 ounces per annum at a cash cost of US$590 per ounce, with low initial capital of C$144 million repaid over 3.4 years with annual after tax cash flow of C$49 million.
The excellent economics are afforded by the project's location in Canada's most prolific gold mining camp, Timmins Ontario, with extensive existing infrastructure and experienced and available services and workforce.
We are now focussing on expanding the adjacent deposits and discovering new zones of gold mineralization with the start of our new 20,000 m drill program designed to continue to add value to the Golden Highway Project with a growing resource base.
In addition to following up the three new discoveries from earlier this year, Moneta is currently updating the Windjammer South, 55 and new Westway resource estimates, expected to be released before the end of 2020."
The Technical Report dated October 21, 2020 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website ( www.monetaporcupine.com ) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Richard M. Gowans, P.Eng., Mr. Barnard Foo, P.Eng., Mr. Christopher Jacobs, MIMMM, Mr. David Makepeace, P.Eng., and Mr. Nigel Fung, P.Eng., of Micon International Ltd. of Toronto, Canada, who are considered "Qualified Persons" under NI 43-101.
The new technical report covers and supports the technical and scientific disclosure as contained in the new PEA study reported in Moneta's press release dated September 09, 2020 entitled "Moneta announces positive results from Preliminary Economic Assessment study on South West Deposit."
Qualified Person
Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002.jpg
Figure 1: Golden Highway Project: Location of Deposits and Targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002full.jpg
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located
along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with
over 85 million ounces of past gold production.
The main Golden Highway Project covers 12 km of prospective ground along
the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate
comprised of an indicated resource of 676,900 ounces gold contained
within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold
contained within 10.78 Mt @ 4.00 g/t Au in the inferred category
at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits.
A PEA study completed on the South West Deposit, one of 6 deposits located
on the Golden Highway project, highlighted an 11-year mine life with an
after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback,
generating C$371MM LOM after-tax free cash flow.
The project envisaged underground mining producing 76,000 oz/pa at a cash
cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetaporcupine.com
or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66555
Newsfile Corp.
October 22, 2020 - 5:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Kirkland Lake Gold (TSX:KL) sets sights on Timmins for regional office -
Sun., November 29, 2020, 2:53 p.m. PST·5 min read -
https://ca.news.yahoo.com/kl-gold-sets-sights-timmins-225324908.html
bigone; well Kirkland Lake Gold and Moneta Porcupine ME and
KL shares properties and both have properties beside each other;
Richest Real Money Pit Of The World -
The Golden Horse Shoe Bellow James Bay -
https://digigeodata.com/area/timmins/
THE MONETA REAl MONEY )
Moneta Files NI 43-101 Technical Report on the
Preliminary Economic Assessment Study of
the South West Deposit, Golden
Highway Project
https://www.monetaporcupine.com/press-releases-2020/
https://www.monetaporcupine.com/corporate-presentation/
https://www.monetaporcupine.com/projects-overview/
https://www.monetaporcupine.com/
Toronto, Ontario--(Newsfile Corp. -
October 22, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP) ("Moneta" or the "Company") is pleased to announce the filing of the technical report covering the Preliminary Economic Assessment "PEA" study on the South West deposit located in the Golden Highway Project, 110 km east of Timmins, Ontario.
"We are pleased to have filed the Technical Report which supports the positive results from the preliminary economic assessment of the South West deposit and its robust project economics including an NPV5% of C$236 million and IRR of 30% at US$1,500 ounce gold," commented Moneta CEO, Gary O'Connor.
"The PEA study assumed underground extraction at only our South West deposit and has shown the potential to produce up to 85,700 ounces per annum at a cash cost of US$590 per ounce, with low initial capital of C$144 million repaid over 3.4 years with annual after tax cash flow of C$49 million.
The excellent economics are afforded by the project's location in Canada's most prolific gold mining camp, Timmins Ontario, with extensive existing infrastructure and experienced and available services and workforce.
We are now focussing on expanding the adjacent deposits and discovering new zones of gold mineralization with the start of our new 20,000 m drill program designed to continue to add value to the Golden Highway Project with a growing resource base.
In addition to following up the three new discoveries from earlier this year, Moneta is currently updating the Windjammer South, 55 and new Westway resource estimates, expected to be released before the end of 2020."
The Technical Report dated October 21, 2020 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website ( www.monetaporcupine.com ) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Richard M. Gowans, P.Eng., Mr. Barnard Foo, P.Eng., Mr. Christopher Jacobs, MIMMM, Mr. David Makepeace, P.Eng., and Mr. Nigel Fung, P.Eng., of Micon International Ltd. of Toronto, Canada, who are considered "Qualified Persons" under NI 43-101.
The new technical report covers and supports the technical and scientific disclosure as contained in the new PEA study reported in Moneta's press release dated September 09, 2020 entitled "Moneta announces positive results from Preliminary Economic Assessment study on South West Deposit."
Qualified Person
Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002.jpg
Figure 1: Golden Highway Project: Location of Deposits and Targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002full.jpg
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located
along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with
over 85 million ounces of past gold production.
The main Golden Highway Project covers 12 km of prospective ground along
the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate
comprised of an indicated resource of 676,900 ounces gold contained
within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold
contained within 10.78 Mt @ 4.00 g/t Au in the inferred category
at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits.
A PEA study completed on the South West Deposit, one of 6 deposits located
on the Golden Highway project, highlighted an 11-year mine life with an
after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback,
generating C$371MM LOM after-tax free cash flow.
The project envisaged underground mining producing 76,000 oz/pa at a cash
cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetaporcupine.com
or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66555
Newsfile Corp.
October 22, 2020 - 5:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Richest Real Money Pit Of The World -
The Golden Horse Shoe Bellow James Bay -
https://digigeodata.com/area/timmins/
THE MONETA REAl MONEY )
Moneta Files NI 43-101 Technical Report on the
Preliminary Economic Assessment Study of
the South West Deposit, Golden
Highway Project
https://www.monetaporcupine.com/press-releases-2020/
https://www.monetaporcupine.com/corporate-presentation/
https://www.monetaporcupine.com/projects-overview/
https://www.monetaporcupine.com/
Toronto, Ontario--(Newsfile Corp. -
October 22, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP) ("Moneta" or the "Company") is pleased to announce the filing of the technical report covering the Preliminary Economic Assessment "PEA" study on the South West deposit located in the Golden Highway Project, 110 km east of Timmins, Ontario.
"We are pleased to have filed the Technical Report which supports the positive results from the preliminary economic assessment of the South West deposit and its robust project economics including an NPV5% of C$236 million and IRR of 30% at US$1,500 ounce gold," commented Moneta CEO, Gary O'Connor.
"The PEA study assumed underground extraction at only our South West deposit and has shown the potential to produce up to 85,700 ounces per annum at a cash cost of US$590 per ounce, with low initial capital of C$144 million repaid over 3.4 years with annual after tax cash flow of C$49 million.
The excellent economics are afforded by the project's location in Canada's most prolific gold mining camp, Timmins Ontario, with extensive existing infrastructure and experienced and available services and workforce.
We are now focussing on expanding the adjacent deposits and discovering new zones of gold mineralization with the start of our new 20,000 m drill program designed to continue to add value to the Golden Highway Project with a growing resource base.
In addition to following up the three new discoveries from earlier this year, Moneta is currently updating the Windjammer South, 55 and new Westway resource estimates, expected to be released before the end of 2020."
The Technical Report dated October 21, 2020 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website ( www.monetaporcupine.com ) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Richard M. Gowans, P.Eng., Mr. Barnard Foo, P.Eng., Mr. Christopher Jacobs, MIMMM, Mr. David Makepeace, P.Eng., and Mr. Nigel Fung, P.Eng., of Micon International Ltd. of Toronto, Canada, who are considered "Qualified Persons" under NI 43-101.
The new technical report covers and supports the technical and scientific disclosure as contained in the new PEA study reported in Moneta's press release dated September 09, 2020 entitled "Moneta announces positive results from Preliminary Economic Assessment study on South West Deposit."
Qualified Person
Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002.jpg
Figure 1: Golden Highway Project: Location of Deposits and Targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002full.jpg
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located
along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with
over 85 million ounces of past gold production.
The main Golden Highway Project covers 12 km of prospective ground along
the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate
comprised of an indicated resource of 676,900 ounces gold contained
within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold
contained within 10.78 Mt @ 4.00 g/t Au in the inferred category
at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits.
A PEA study completed on the South West Deposit, one of 6 deposits located
on the Golden Highway project, highlighted an 11-year mine life with an
after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback,
generating C$371MM LOM after-tax free cash flow.
The project envisaged underground mining producing 76,000 oz/pa at a cash
cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetaporcupine.com
or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66555
Newsfile Corp.
October 22, 2020 - 5:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Moneta Files NI 43-101 Technical Report on the
Preliminary Economic Assessment Study of
the South West Deposit, Golden
Highway Project
https://www.monetaporcupine.com/press-releases-2020/
https://www.monetaporcupine.com/corporate-presentation/
https://www.monetaporcupine.com/projects-overview/
https://www.monetaporcupine.com/
Toronto, Ontario--(Newsfile Corp. -
October 22, 2020) -
Moneta Porcupine Mines Inc. (TSX: ME) (OTC Pink: MPUCF) (FSE: MOP) ("Moneta" or the "Company") is pleased to announce the filing of the technical report covering the Preliminary Economic Assessment "PEA" study on the South West deposit located in the Golden Highway Project, 110 km east of Timmins, Ontario.
"We are pleased to have filed the Technical Report which supports the positive results from the preliminary economic assessment of the South West deposit and its robust project economics including an NPV5% of C$236 million and IRR of 30% at US$1,500 ounce gold," commented Moneta CEO, Gary O'Connor.
"The PEA study assumed underground extraction at only our South West deposit and has shown the potential to produce up to 85,700 ounces per annum at a cash cost of US$590 per ounce, with low initial capital of C$144 million repaid over 3.4 years with annual after tax cash flow of C$49 million.
The excellent economics are afforded by the project's location in Canada's most prolific gold mining camp, Timmins Ontario, with extensive existing infrastructure and experienced and available services and workforce.
We are now focussing on expanding the adjacent deposits and discovering new zones of gold mineralization with the start of our new 20,000 m drill program designed to continue to add value to the Golden Highway Project with a growing resource base.
In addition to following up the three new discoveries from earlier this year, Moneta is currently updating the Windjammer South, 55 and new Westway resource estimates, expected to be released before the end of 2020."
The Technical Report dated October 21, 2020 was prepared in accordance with National Instrument 43-101 standards for Disclosure for Mineral Projects ("NI 43-101") and has been filed on both SEDAR and the Company's website ( www.monetaporcupine.com ) and is now available for review.
The Report was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Richard M. Gowans, P.Eng., Mr. Barnard Foo, P.Eng., Mr. Christopher Jacobs, MIMMM, Mr. David Makepeace, P.Eng., and Mr. Nigel Fung, P.Eng., of Micon International Ltd. of Toronto, Canada, who are considered "Qualified Persons" under NI 43-101.
The new technical report covers and supports the technical and scientific disclosure as contained in the new PEA study reported in Moneta's press release dated September 09, 2020 entitled "Moneta announces positive results from Preliminary Economic Assessment study on South West Deposit."
Qualified Person
Kevin Montgomery, P.Geo. is a qualified person under NI 43-101 and has reviewed and approved the technical contents of this press release.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002.jpg
Figure 1: Golden Highway Project: Location of Deposits and Targets
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4852/66555_6361dcfd44d9c8e0_002full.jpg
About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located
along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with
over 85 million ounces of past gold production.
The main Golden Highway Project covers 12 km of prospective ground along
the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate
comprised of an indicated resource of 676,900 ounces gold contained
within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold
contained within 10.78 Mt @ 4.00 g/t Au in the inferred category
at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits.
A PEA study completed on the South West Deposit, one of 6 deposits located
on the Golden Highway project, highlighted an 11-year mine life with an
after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback,
generating C$371MM LOM after-tax free cash flow.
The project envisaged underground mining producing 76,000 oz/pa at a cash
cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetaporcupine.com
or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66555
Newsfile Corp.
October 22, 2020 - 5:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Nah Nah Nah Nah...... Nah Nah Nah Nah,,,,,Hey hey hey.....
Gold Debate: Is A New Gold Standard Coming? (Steve Forbes) -
August 23, 2020
bigone thank you, RE: This sounds so sweet well said, The Golden Highway
Project is only one of six Moneta Porcupine Mines Inc (TSX:ME)
Projects Overview
Moneta Porcupine Mines Inc. (“Moneta”) is a gold exploration company
which holds a 100% interest in 6 core gold projects and
a 50% JV with Kirkland Lake Gold strategically located on or
along the Destor Porcupine Fault Zone corridor (“Destor”),
one of the key mineralized structures in the Abitibi Greenstone belt
in Ontario, with excellent infrastructure including access roads,
water, electricity, and mills.
Most gold mineralization in the region
is associated with the Destor, including significant resources and
producing mines now operated by
Porcupine Gold Mines (Newmont-Goldcorp) and several others such as
McEwen Mining, Pan American Silver, Osisko Mining and Kirkland Lake
Gold.
The Golden Highway Camp has experienced rapid advancement of
gold resources by Moneta and others including
Osisko Mining reflecting the strong regional gold potential.
The Porcupine Camp and Golden Highway Camp
(herein collectively referred to as “Timmins Camp“) is one of
the most prolific gold-producing areas in
the world with over 80 million ounces of gold produced to date.
Moneta’s land position covers 618 km2 and is one of the largest
after the three main gold producers in the Timmins Camp, and
includes the highly prospective
Golden Highway Project which covers 12 kilometres of a
volcanic/sedimentary belt and contains four branches of the Destor.
The Golden Highway Project hosts a gold NI 43-101 Resource Estimate
(November 2019) of 556,500 ounces indicated
(3.8Mt at 4.53 g/t Au) plus
1,174,000 ounces inferred (8.5 Mt at 4.31 g/t Au).
The property covers over 200 square kilometres and is adequate in size
to support milling infrastructure, however, six existing mills are
within trucking distance and have excess capacity for toll milling.
Indicated resources increased 58% in 2019 and inferred resources
increased by 40% during the same period.
The Timmins Camp has first rate infrastructure with excellent off
highway access via an extensive network of logging and drilling roads.
Communications and power are available along Highway 101 and
cell phone coverage extends to the property.
A skilled labour force for mining and exploration is available in
Matheson, Kirkland Lake and Timmins.
Timmins and Kirkland Lake are also major supply and
service centers for the mining industry.
The Company is leveraged to gold exploration, with limited overhead and
fixed costs and one of the highest ratios of dollars
to drilling of any junior explorer.
It is operated by a strong technical and management team which
maintains a low-cost Timmins-based exploration operation with its own
field office, rolling stock and equipment, and drill core logging and
core storage facility (core shack).
Moneta was incorporated pursuant to the laws of the Province of Ontario
on October 14, 1910 and its common shares was one of the 1st
gold producers trade on the Toronto Stock Exchange (“TSX“)
under the symbol ME, on the United States OTC market under
the symbol MPUCF, and the Xetra, and Frankfurt Stock Exchange under
the symbol MOP.
The company is a former gold producer but has no properties currently
in production.
Click to enlarge
Moneta’s recent primary gold exploration and resource development focus
has been the Golden Highway Project centred in Michaud Township
100 km east of Timmins, Ontario along Highway 101,
a major all-season route.
The Golden Highway Project captures 12 kms of
the Destor Porcupine Fault Zone Corridor,
one of the most prolific Archean gold-bearing
structures in the world.
The project currently hosts a NI 43-101 resource,
spanning only 4 km of the corridor and found primarily within
sedimentary host rocks along a southern splay of the Destor.
Resource growth potential exists along the remaining 8 km of largely
untested strike length along the Destor in contact with
ultramafic units, where limited historical drilling has already
confirmed gold mineralization.
The main unconformity which occurs as the mafic volcanic-sediment
contact also remains largely untested.
Moneta also has a 50% stake in the Garrison JV with
Kirkland Lake Gold in the Golden Highway Camp.
Moneta continues to maintain a large land holding in
Porcupine Gold Camp which includes the gold properties of
North Tisdale, Nighthawk Lake, Kayorum, DeSantis and Denton.
Additional properties with strategic value are
historical base metal projects and include
Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu).
https://www.monetaporcupine.com/projects-overview/
God Bless
Moneta Porcupine commences drilling
'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter
Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
https://www.timminspress.com/news/local-news/moneta-porcupine-commences-drilling
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158338038
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Moneta Porcupine Mines Inc (TSX:ME) Seeking Alpha -
Seeking Alpha article
https://seekingalpha.com/article/4374634-moneta-porcupine-digging-south-west-pea?utm_medium=email&utm_source=seeking_alpha#alt1&mail_subject=mpucf-moneta-porcupine-digging-into-the-south-west-pea&utm_campaign=rta-stock-article&utm_content=link-0
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Rating: BUY (unchanged)
Price Target: $0.35 (unchanged
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31532663
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
Timmins About time for KL to lift the veil on their last 4
Timmins
About time for KL to lift the veil on their last 4 months in Timmins.
They are going crazy in timmins, hiring, etc.
let the world know.
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=31531334
Industrial Alliance comments on Moneta Porcupine Mines inc.
According to Industrial Alliance Securities:
https://www.iavaleursmobilieres.ca/research/MESept92020.pdf
Research Update
September 9, 2020
Moneta Porcupine Mines Inc. (ME-T)
Gold & Silver bulls starting to break out > ^ > ^ > ^
bigone yes its exciting, well I held on to Moneta for long time and
I think it precious resources can help to feed Dome Mill -
ex....
Close to The Old Moneta Mine's large property
on the South part is Dome Gold Mine:
Ex....
Goldcorp/Newmont makes headway with plan to give Dome mine a new life
Cecilia Jamasmie | July 4, 2017
(Image courtesy of Goldcorp via Flickr)
Goldcorp/Newmont makes headway with plan to give Dome mine a new life
Porcupine’s Dome started as an open pit and then went underground.
Newmont’s Goldcorp (TSX:NGT) (NYSE:NEM), the world’s number one bullion
miner in terms of output, is moving forward with its Century project,
which aims to extend the life its century-old Dome mine in Ontario.
The Dome mine received a negative sentence in January 2016, when
Goldcorp announced it was closing the operation in the summer due to
weak bullion prices that nearly half the company’s share price over the
previous year.
A few months later, however, the company literally stroke gold as it
found indicated mineral resource of 4.5 million ounces and a gold
inferred mineral resource of 0.9 million ounces (for a total of 5.4
million ounces) at what is now being called the Dome Century Project.
Dome Mine
From Wikipedia, the free encyclopedia -
https://en.wikipedia.org/wiki/Dome_Mine
GOLDCORP MAY BE ABLE TO BEGIN DEVELOPING THE OPEN-PIT CENTURY PROJECT -
Goldcorp kicked off then a conceptual study to expand the open-pit mine,
which has just completed, and the project is entering its
prefeasibility stage, expected to take about 18 months.
“If we want to be economically viable and continue to contribute to
Timmins, we need projects like this to make that happen (…) this is
just an example of some of the ideas we have to take
PGM (Porcupine Gold Mines) into a second century,”
Marc Lauzier, general manager at PGM-Goldcorp told Timmins Today.
Dome is one of the oldest operating gold mines in North America
and one of the other two assets —
Hoyle Pond and Hollinger open pit —
that are part of the Porcupine operation.
While Dome has been what Goldcorp calls a “prolific” gold producer since
it began production in 1910, reserves are declining fast.
That leaves Porcupine with the Hollinger open pit, set to shut down by
2019, the Hoyle Pond underground operations and the processing
facility, which is fed by all three mines.
The potential large-scale open pit Century mine is expected to be
close to its development stage by the time Dome approaches the end of
its life, Lauzier said.
Despite having sold quite a few mines recently, Goldcorp expects to
produce approximately 2.5 million ounces of gold in 2017 and has set
itself some ambitious targets for the next five years.
The Vancouver-based miner expects gold production to increase 20% to
approximately 3 million ounces, excluding potential production from its
Canadian projects and its NuevaUnión joint venture in Chile.
Beside Moneta Gold Mine property is
Hollinger Gold Mines.
Lord Conrad Black has been the major owner of Hollinger Mines
for many years.
The large Hollinger Mines underground workings butt right up to
Moneta Porcupine Mine border -
Recently Lord Conrad Black was at Gold Show in Vancouver
and questioned by Kitco
about what he was thinking about that the dollar again
be backed by:
A Gold Standard return?
Here’s how
Lord Conrad Black sees it -
27,421 views • Jan 21, 2020
bigone thank you, beside Moneta Gold Mine property is
Hollinger Gold Mines.
Lord Conrad Black has been the major owner of Hollinger Mines
for many years.
The large Hollinger Mines underground workings butt right up to
Moneta Porcupine Mine border -
Recently Lord Conrad Black was at Gold Show in Vancouver
and questioned by Kitco
about what he was thinking about that the dollar again
be backed by:
A Gold Standard return?
Here’s how
Lord Conrad Black sees it -
27,421 views • Jan 21, 2020
The K2 Principal Fund L.P. ("K2") announced that on May 1st, 2020
it purchased 98,500 common shares of Moneta Porcupine Mines Inc.
(TSX: ME) of 65 3rd Ave, Timmins, ON, P4N 1C2.
Each share was purchased through the TSX at
a total cost of $11,692.12.
Prior to the recent acquisition, K2 held 31,085,000 common shares.
After the acquisition, the partnership holds 31,183,500 common shares
representing approximately 10.01% of the issued and outstanding common
shares of Moneta Porcupine Mines Inc.
K2 acquired the securities for investment purposes only and may,
depending on market and other conditions, increase or decrease its
beneficial ownership, control or direction over, or exercise its
current rights to acquire, common shares or other securities of
Moneta Porcupine Mines Inc through market transactions, private
agreements or otherwise.
SOURCE The K2 Principal Fund L.P.
Dan Gosselin, The K2 Principal Fund L.P., (416) 365-2155
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp. listed @ TSE & One of the Oldest Gold Mining Producer In Canada -
Moneta Gold Mine The Highest average grade Gold Mine
of the Gold Mine Producers in Timmins Porcupine Gold Fields -
Moneta Gold Mine still virgin because the mill destroyed
early by fire -
the mining were @ shallow level -
the rich ore often start below 1000 meter deep -
The Moneta Gold Mine is located in the NW portion of
Moneta’s Kayorum property and is immediately
adjacent to the east to the Hollinger Gold Mine.
Total production between 1938-1943 was
149,250 oz gold
from 314,829 tons at an average grade of 0.47 oz/t.
The Moneta Gold Mine underground infrastructure includes
a shaft to 1,492 feet with 6 levels of development.
Moneta’s Gold Mine Kayorum property is of particular interest
as the immediately adjacent Hollinger Gold Mine pit project
has been approved with development underway in 2012 -
The Hollinger project envisions a 200-250m deep multiple phase
open pit based on a 2010 resource of 3.47Mozs and
782,000 oz in reserves.
Exploration drill programs have also identified several underground
mining opportunities by ramp and existing underground infrastructure
for both the Hollinger (Millerton) and
McIntyre (Central Porphyry Zone) mines -
Hollinger underground workings butt right up the border
of Moneta Gold Mine @ Moneta’s Kayorum property -
is still very large gold mine property -
https://en.wikipedia.org/wiki/Hollinger_Mines
Moneta Announces Closing of Strategic Investment by Eric Sprott -
http://crweworld.com/article/news-provided-by-pr-newswire/1246018/moneta-announces-closing-of-strategic-investment-by-eric-sprott#
Moneta Porcupine Mines Inc holds a 100% interest in 5 core gold projects
and a 50% JV with
Kirkland Lake Gold strategically located on or along
the Destor Porcupine Fault Zone corridor (“Destor”), one of the key
mineralized structures in the Abitibi Greenstone belt in Ontario, with
excellent infrastructure including access roads, water, electricity,
and mills.
Most gold mineralization in the region is associated with the Destor,
including significant resources and producing mines now operated by
Porcupine Gold Mines (Goldcorp) and several others such as
Pan American Silver Corp. (Tahoe Resources), McEwen Mining, and
Kirkland Lake Gold.
The Golden Highway Camp has experienced rapid advancement of gold
resources by Moneta and others including Osisko Mining reflecting the
strong regional gold potential.
Moneta Porcupine Mines Inc. has interests in 1,046 claim units each
approximately 16,800 hectares in area (total area approximately 16,800
hectares) in the form of
mining patents, leases and staked claims.
Most of the Company’s landholdings are not subject to any royalty or
encumbrances other than minor royalties to third parties on a limited
number of claims primarily outside the Golden Highway Project.
The Porcupine Camp and Golden Highway Camp (here collectively referred
to as “Timmins Gold Camp“) is one of the most prolific gold-producing
areas in the world with over 75 million ounces of gold produced to
date, including that from some 26 mines, each of which
generated more than 100,000 ounces.
Moneta’s land position for gold exploration is one of the largest in
the Timmins Gold Camp including a commanding position in the emerging
Golden Highway Camp as well as an established position
in the Porcupine Camp.
The Golden Highway Project is a largely contiguous land package of
689 claim units or approximately 11,000 hectares, and contains a
significant gold NI 43-101 Resource Estimate (Jan 2019)
containing 383,400 oz indicated (2.6Mt @ 4.61 g/t)
plus 873,200 oz inferred (6.5Mt @ 4.21 g/t) -
had plenty of more drillinng since and will be upgraded -
Click to enlarge
Moneta’s recent primary gold exploration and resource development focus
has been the Golden Highway Project centred in Michaud Township
100 km east of Timmins, Ontario along Highway 101,
a major all-season route.
The Golden Highway Project captures 12 kms of the Destor Porcupine Fault
Zone Corridor, one of the most prolific Archean gold-bearing structures
in the world.
The project currently hosts a NI 43-101 resource,
spanning only 4 km of the corridor and found primarily within
sedimentary host rocks along a southern splay of the Destor.
Resource growth potential exists along
the remaining 8 km of largely untested strike length along
the Destor in contact with ultramafic units, where
limited historical drilling has already
confirmed gold mineralization.
The main unconformity which occurs as the mafic volcanic-sediment
contact also remains largely untested.
Moneta also has a 50% stake in the Garrison JV with Kirkland Lake Gold
in the Golden Highway Camp.
Moneta continues to maintain a large land holding in
Porcupine Gold Camp which includes the gold properties of
North Tisdale, Nighthawk Lake, Kayorum, DeSantis and Denton.
Additional properties with strategic value are historical base metal
projects and
include Loveland Nickel (Ni), Kamiskotia (Cu/Zn), and Fripp (Cu).
http://crweworld.com/article/news-provided-by-pr-newswire/1246018/moneta-announces-closing-of-strategic-investment-by-eric-sprott#
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Moneta Porcupine Mines Inc. (TSX:ME, OTC:MPUCF) CEO Clip: Gary O'Connor
Moneta Porcupine Mines | Canada's Most Prolific Gold Mining Camp -
•Apr 23, 2020
In this video the CEO of Moneta Porcupine Mines, Gary O'Connor,
talks about the company's gold exploration in the Timmins Gold Camp.
Who CARES about Kirkland Gold - They don't know what they're doing (I mean, they're just a bunch of back-water socialists", aren't they ?)....he-he
And besides - Does that have anything to do with Moneta ?
Oh wait - Okay (I read on) . . . . . and found that your (Industrial Alliance Securities analyst George) "Mr. Topping" . . . . . likes Monetas' prospects
Whereas me I'm beginning to question such reasoning . . . . (because, this chart doesn't look all that great) : Regardless,
Thanks for the small heads-up anyways I guess - it at least shows that I'm not the only one hoping they do well.
Thing's startin' to look just a little bit dicey.....Like maybe "the run" is over.
If Sprott has any brains I'd recommend that he sell......since he probably bought down at 10
All depends on Barricks' $40
Monday
Friday
Kirkland Lake Gold Announces Strategic Alliance With Newmont
Canada For Exploration Opportunities Around Holt Complex And
Newmont's Timmins Properties
KL | 2 hours ago
TORONTO, Aug. 17, 2020 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL)(ASX:KLA) today announced that the Company and its wholly-
owned indirectly held subsidiary St Andrew Goldfields Ltd. have entered
into a strategic alliance agreement (the “Agreement”) with Newmont
Canada FN Holdings ULC (“Newmont”) with respect to exploration and
development opportunities around the Company’s Holt Complex and
Newmont’s properties in Timmins, Ontario.
Under terms of the Agreement, Newmont will pay Kirkland Lake Gold US$75 million to acquire an option (the “Option”) on certain mining and mineral rights related to the Company’s Holt Mine property. The Agreement also includes a commitment by the two companies to work together to identify additional regional exploration opportunities around their respective land positions in the region where they may be able to cooperate in the future to advance projects and create value for both companies. Under terms of the Agreement, the Option may be terminated by the Company upon the assumption of certain liabilities related to the Holt Mine property. Kirkland Lake Gold will act as manager of Strategic Alliance activities. Ownership of all infrastructure on the Holt Mine property, including the Holt Mill, is retained by Kirkland Lake Gold, and the Option does not involve the other Holt Complex assets, including the Holloway and Taylor mines.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
Cautionary Note Regarding Forward-Looking Information
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to the ability to increase exploration in the region pursuant to the Agreement, planned exploration programs, costs and expenditures, potential opportunities for growth and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. These forward-looking statements include, but are not limited to, statements with respect to future exploration potential, project economics, timing and scope of future exploration, anticipated costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, risks related to international operations, risks related to obtaining the permits required to carry out planned exploration or development work, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold, as well as those factors discussed in the section entitled "Risk Factors" in the Company’s Annual Information Form, financial statements and related MD&A for the periods ended December 31, 2019 and June 30, 2020 and other disclosures of "Risk Factors" by the Company and its predecessors, which are filed with the securities regulatory authorities in certain provinces in Canada and available on SEDAR. Although the Company has attempted to identify key factors that could cause actual results to differ materially, there may be other factors that cause unanticipated and unintended results. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
GlobeNewswire
August 17, 2020 - 2:00 PM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Globe says Moneta Porcupine Mines called "undervalued" 2020-06-05
07:56 ET -
ex....
In the News The Globe and Mail reports in its Friday, June 5,
edition that Industrial Alliance Securities analyst George
Topping says Moneta Porcupine Mines (14.5 cents) is "undervalued."
The Globe's David Leeder writes in the Eye On Equities column
that Mr. Topping notes Moneta's "desirable location in an
existing camp with many underutilized mills and
record gold prices."
Accordingly, Mr. Topping began coverage of the gold exploration
company, which owns six projects in the Timmins mining camp,
with a "buy" rating.
Mr. Topping set a share target of 35 cents.
Analysts on average target the shares at 40 cents.
Mr. Topping further notes that "insiders and major shareholders
have added 2.7 million shares through the public market,
which to us is a bullish signal."
Eric Sprott, a "renowned" gold investor, recently increased
his interest in Moneta and now holds 9 per cent of its shares.
Mr. Topping says in a note:
"As the resource grows and/or is upgraded via infill,
Moneta will undergo a multiple expansion.
We await the PEA on the project before we assign our
own metrics to a potential mining plan.
However, we see a scenario where the company could secure
toll treatment, or preferably, buy a nearby mill."
2020 Canjex Publishing Ltd. All rights reserved.
by JON72
Moneta Porcupine Mines Inc.
ME TSX Exchange 1st mining comp listed @ TSE -
The giant Au with so many great old
mining properties in Timmins Canada's richest
mining camp - may Wake UP smile) -
ex....
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31181819
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp listed @ TSE
- The giant Au starting to wake UP - )
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31063299
God Bless
Kirkland Lake Gold Announces Strategic Alliance With Newmont
Canada For Exploration Opportunities Around Holt Complex And
Newmont's Timmins Properties
KL | 2 hours ago
TORONTO, Aug. 17, 2020 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL)(ASX:KLA) today announced that the Company and its wholly-
owned indirectly held subsidiary St Andrew Goldfields Ltd. have entered
into a strategic alliance agreement (the “Agreement”) with Newmont
Canada FN Holdings ULC (“Newmont”) with respect to exploration and
development opportunities around the Company’s Holt Complex and
Newmont’s properties in Timmins, Ontario.
Under terms of the Agreement, Newmont will pay Kirkland Lake Gold US$75 million to acquire an option (the “Option”) on certain mining and mineral rights related to the Company’s Holt Mine property. The Agreement also includes a commitment by the two companies to work together to identify additional regional exploration opportunities around their respective land positions in the region where they may be able to cooperate in the future to advance projects and create value for both companies. Under terms of the Agreement, the Option may be terminated by the Company upon the assumption of certain liabilities related to the Holt Mine property. Kirkland Lake Gold will act as manager of Strategic Alliance activities. Ownership of all infrastructure on the Holt Mine property, including the Holt Mill, is retained by Kirkland Lake Gold, and the Option does not involve the other Holt Complex assets, including the Holloway and Taylor mines.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
Cautionary Note Regarding Forward-Looking Information
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to the ability to increase exploration in the region pursuant to the Agreement, planned exploration programs, costs and expenditures, potential opportunities for growth and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. These forward-looking statements include, but are not limited to, statements with respect to future exploration potential, project economics, timing and scope of future exploration, anticipated costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, risks related to international operations, risks related to obtaining the permits required to carry out planned exploration or development work, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold, as well as those factors discussed in the section entitled "Risk Factors" in the Company’s Annual Information Form, financial statements and related MD&A for the periods ended December 31, 2019 and June 30, 2020 and other disclosures of "Risk Factors" by the Company and its predecessors, which are filed with the securities regulatory authorities in certain provinces in Canada and available on SEDAR. Although the Company has attempted to identify key factors that could cause actual results to differ materially, there may be other factors that cause unanticipated and unintended results. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
GlobeNewswire
August 17, 2020 - 2:00 PM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Globe says Moneta Porcupine Mines called "undervalued" 2020-06-05
07:56 ET -
ex....
In the News The Globe and Mail reports in its Friday, June 5,
edition that Industrial Alliance Securities analyst George
Topping says Moneta Porcupine Mines (14.5 cents) is "undervalued."
The Globe's David Leeder writes in the Eye On Equities column
that Mr. Topping notes Moneta's "desirable location in an
existing camp with many underutilized mills and
record gold prices."
Accordingly, Mr. Topping began coverage of the gold exploration
company, which owns six projects in the Timmins mining camp,
with a "buy" rating.
Mr. Topping set a share target of 35 cents.
Analysts on average target the shares at 40 cents.
Mr. Topping further notes that "insiders and major shareholders
have added 2.7 million shares through the public market,
which to us is a bullish signal."
Eric Sprott, a "renowned" gold investor, recently increased
his interest in Moneta and now holds 9 per cent of its shares.
Mr. Topping says in a note:
"As the resource grows and/or is upgraded via infill,
Moneta will undergo a multiple expansion.
We await the PEA on the project before we assign our
own metrics to a potential mining plan.
However, we see a scenario where the company could secure
toll treatment, or preferably, buy a nearby mill."
2020 Canjex Publishing Ltd. All rights reserved.
by JON72
Moneta Porcupine Mines Inc.
ME TSX Exchange 1st mining comp listed @ TSE -
The giant Au with so many great old
mining properties in Timmins Canada's richest
mining camp - may Wake UP smile) -
ex....
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31181819
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp listed @ TSE
- The giant Au starting to wake UP - )
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31063299
God Bless
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