Canadian producer Monarch Mining has confirmed it is selling its 100% interest in the Croinor gold property in the Abitibi region to Probe Gold. Under the terms of the deal for the property near Val-d’Or, Probe will make a cash payment of $2 million at closing and will issue $2.5 million in common shares, for a total of $4.5 million.…
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Monarch’s Beaufor transitioning to C&M
Citing financial and operational challenges – and just weeks after announcing it would slow down operations at the mine due to technical, mechanical and procurement issues – Monarch Mining has confirmed it is suspending mining at the Quebec gold mine and is placing it on care and maintenance. Monarch officials said the halt will be for an “undetermined period” and…
Read MoreMonarch slows operations at Beaufor
Monarch Mining, owner of the Beaufor mine east of Val-d’Or, Quebec, and the associated Beacon Mill, has opted to slow down operations at the mine due to technical, mechanical and procurement issues. The company, which noted that mill operations will not be impacted by the decision, produced first gold from the operation just over a month ago. “The restart and…
Read MoreMonarch in flight with first gold bar
Monarch Mining has produced the first gold bar from its Beaufor operation and Beacon Mill east of Val-d’Or, Quebec, and is reporting enviable progress from the new mine. The Quebec-based company said the first bar is a significant milestone for Beaufor since its listing in January of last year. To date, it has stockpiled 23,914 tonnes of ore averaging 4.76…
Read MoreBeaufor mine, Beacon mill nearing restart: Monarch
Monarch Mining, owner of the Beaufor gold operation in Quebec, Canada, has provided an update to its work on the mine and the Beacon mill as it prepares to restart the complex in 2022.
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