Monarch reports third quarter results

“Everything is set for the gradual recommissioning of the Beaufor mine,” said Jean-Marc Lacoste, President and CEO of Monarch. “We have continued to lay the groundwork for recommissioning, which we completed in the third quarter at the Beaufor mine and will be finalised at the Beacon mill in the fourth quarter. In preparation for recommissioning, some 24 000 t of ore have been mined and set aside for the Beacon mill. The next step is to process waste material to ensure that the mill is operating properly, and then we will move ahead with processing the ore and pouring the first gold bar, which is still scheduled for June 2022. That will mark the beginning of a new era for the Beaufor Mine, with a new operating strategy to boost production capacity above the mine’s historical production level while ensuring profitability.”

“We also continue to be very active on the exploration side, and we expect to drill 60 000 m on our four properties in 2022. In the third quarter, the Beaufor mine continued to show excellent high-grade results at depth and near surface. The Swanson project generated better-than-expected results, prompting us to double the size of the drilling programme to 10 000 m, and on the McKenzie Break project, we recently started a new drilling programme to follow up on the positive results of the previous programme. At the Croinor Gold project, the resource estimate is currently being updated to take account for all the work done to date and a report is expected in the next few weeks.”

Read the article online at: https://www.globalminingreview.com/finance-business/17052022/monarch-reports-third-quarter-results/