Company Name: Monarch Mining Corporation

Monarch Mining (“Monarch”) was spun-out from Monarch Gold, which was acquired by Yamana Gold (TSX: YRI) for $152M in December 2020. Yamana acquired Monarch Gold’s Wasamac property and the Camflo mill for $61M in cash, and $91M in shares.Prior to the acquisition, four advanced stage gold assets, and the Beacon mill, in the Abitibi mining camp in Quebec (valued at $47.5M), and $16M in cash, were spun-out into newly formed Monarch Mining. The assets sold to Yamana were part of a portfolio acquired from Richmont Mines in 2017 for just $25M. The sale to Yamana reflected a return of over 5x in under four years. Monarch Mining is run by the same team that ran Monarch Gold.

Through private placements and sale of non-core assets, MQR has significantly strengthened its balance sheet since our last update in March 2020. A $10 million bought deal financing is expected to close this month, which will bring MQR’s cash + investment position to $37 million.

Highlights The massive sell-off in capital markets in recent weeks due to COVID-19 has created...

Key Highlights In FY2019 (quarter ended June 30, 2019), Monarch Gold Corporation (“MQR”,...