Monarch Mining Corporation - Beaufor mine restart plans and financing update
Monarch Mining Corporation has moved closer to cash generation by confirming the reopening of its Beaufor mine and its Beacon milling operation by June 2022. It has also commenced recruitment and bolstered its cash through a C$6m bought deal private placement of shares and warrants. A new resource estimate will be prepared during summer 2021, which could add to the mine life and our valuation, which we keep unchanged at C$0.99/share, with increased production certainty potentially offsetting share dilution from the placement.
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