Fireside chat with Tony Makuch at the Scotia Mining Conference Dec 2020
224 views•Dec 3, 2020
Kirkland Lake Gold Ltd
https://www.youtube.com/watch?v=ol9J8Uchya8&feature=emb_logo
Gold Wave Forecast – Is Gold Going To $3750 Or Higher?
December 5, 2020
Chris Vermeulen
Technical Analyst, Trader, & Founder of Technical Traders Ltd
Watching Gold fall to recent lows over the past few weeks has been
heartbreaking for Goldbugs.
We know the real value of Precious Metals has continued to be under-
appreciated over the past 24+ months – even though gold has rallied
from $1165 to over $2085 (an incredible 79%).
The recent 15% decline in gold has shaken some investors away from the
longer-term opportunities, so we wanted to share our research and
highlight some simple Elliot Wave structures with you.
https://www.gold-eagle.com/article/gold-wave-forecast-%E2%80%93-gold-going-3750-or-higher
by Chris Vermeulen
Chief Market Strategist
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 > ^ > ^ > ^
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
In GOD We Trust - Real Money -
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
224 views•Dec 3, 2020
Kirkland Lake Gold Ltd
https://www.youtube.com/watch?v=ol9J8Uchya8&feature=emb_logo
Gold Wave Forecast – Is Gold Going To $3750 Or Higher?
December 5, 2020
Chris Vermeulen
Technical Analyst, Trader, & Founder of Technical Traders Ltd
Watching Gold fall to recent lows over the past few weeks has been
heartbreaking for Goldbugs.
We know the real value of Precious Metals has continued to be under-
appreciated over the past 24+ months – even though gold has rallied
from $1165 to over $2085 (an incredible 79%).
The recent 15% decline in gold has shaken some investors away from the
longer-term opportunities, so we wanted to share our research and
highlight some simple Elliot Wave structures with you.
https://www.gold-eagle.com/article/gold-wave-forecast-%E2%80%93-gold-going-3750-or-higher
by Chris Vermeulen
Chief Market Strategist
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.
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October 22, 2020 - 5:00 AM PDT
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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 > ^ > ^ > ^
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
In GOD We Trust - Real Money -
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
My opinions are my own and and DD I post should be confirmed as unbiased
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