3.2 million ounces of underground gold
Monarch Gold is an emerging Canadian gold mining company. They aim to be a 100,000-200,000-ounce per year gold producer through the development of its portfolio of high-quality projects. Further, the projects cover over 315 km² in the Abitibi mining camp in Quebec, Canada.
“We spent the last 7 years building one of the biggest portfolios of gold real estate in Abitibi. We now own 6 properties for a total of 3.2 million ounces of underground gold,” says President & CEO, Jean-Marc Lacoste.
The December 2018 feasibility study on the Corporation’s flagship Wasamac 2.6 million-ounce gold project forecasts average annual production of 142,000 ounces of gold for 11 years at a cash cost of US$550 per ounce. Based on a US$1,300 gold price, the project has a pre-tax net present value of $522 million and a 23.6% pre-tax internal rate of return. The deposit remains open at depth and along strike.
Monarch is also a fully integrated mining company that owns four other advanced projects, namely the Beaufor, Croinor Gold, McKenzie Break and Swanson projects, all located near Monarch’s wholly owned, fully functional, fully permitted Camflo (1,600 tpd) and Beacon (750 tpd) mills and a potential source of feed for the mills.
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