Monarch Mining reported its results today for the third quarter ended March 31, 2023. Amounts are in Canadian dollars unless otherwise indicated. Summary of financial results THREE MONTHS ENDED MARCH 31 NINE MONTHS ENDED MARCH 31 2023 2022 2023 2022 Revenues 2,549,995 - Cost of sales - Loss from mine operations - Administration expenses Operating [...]
Monarch reports gold assays from 13 drill holes of its 2022 McKenzie Break drilling program. Hole MK-22-348 intersects an impressive 1.77 g/t Au over 31.0 m, including a higher grade section of 2.83 g/t Au over 15.6 m along the southeast limit of the current proposed pit shell. Notable broad zones of mineralization include 1.33 g/t Au over 9.35 m [...]
Monarch Mining Corp. announces the resignation of Renaud Adams as a director of the Corporation effective immediately. Mr. Adams was recently appointed President and CEO of a mining company and will devote the majority of his time to his new position. "On behalf of the Board, I would like to thank Renaud Adams for his contribution and wish him all [...]
A total of 3,891 samples to be sent to the laboratory for assaying this week: 2,759 samples for McKenzie Break and 1,132 samples for Swanson An additional 5,100 metres of drill core from McKenzie Break will be logged and sampled for assaying representing approximately 4,000 samples Monarch has drilled 41,465 m in 121 holes on the McKenzie Break [...]
Monarch Mining Corp. announces the closing of the first tranche of a non-brokered private placement for total gross proceeds of $999,997.15 . The Offering consisted of the issuance of 7,333,334 flow-through units of the Corporation at a price of C$0.075 per Quebec FT Unit, and 6,428,530 flow-through units of the Corporation at a price of C$0.07 per [...]
Monarch Mining reported its results today for the second quarter ended December 31, 2022. Amounts are in Canadian dollars unless otherwise indicated. Summary of financial results Three months ended December 31, 2022 Six months ended December 31, 2022 2022 2021 2022 2021 Revenues 544,390 - 2,549,995 - Cost of sales - - Loss from mine operations [...]
Monarch Mining Corp. announces the closing of the first tranche of a non-brokered private placement for total gross proceeds of $4,074,432 effective January 19, 2023. The first tranche of the Offering consisted of the issuance of 62,683,576 common shares of the Corporation at a price of $0.065 per Share. The net proceeds of the Offering are [...]
Monarch Mining Corp. is pleased to announce the results of its annual general meeting of shareholders, which was held today in a virtual-only format. All the nominees listed in the Corporation's management proxy circular dated November 16, 2022, were re-elected as directors. Shareholders holding 45,163,790 shares, or 40.99% of Monarch's issued and [...]
Monarch reports additional gold assays from its 2022 McKenzie Break drilling program. Notable high-grade, near-surface intersections include 35.9 g/t Au over 0.5 m, 28.2 g/t Au over 0.66 m, 17.2 g/t Au over 0.9 m and 12.65 g/t Au over 1.5 m. The 2022 drilling program focused on expanding the proposed pit shell limits to the north and southwest [...]
Monarch Mining Corp. announces that it is proceeding with a non-brokered private placement of a minimum of 15,384,615 and a maximum of 76,923,077 common shares at a price of $0.065 per Share, for a minimum of $1,000,000 and a maximum of $5,000,000 in gross proceeds. The Corporation also reserves the option to increase the size of the Offering by an [...]
Monarch Mining Corp. announced today an update on the total amount of debt settlements disclosed on November 15, 2022. As of today, the Corporation has reached agreements with 115 of its creditors for $11.5 million. The Corporation will issue a revised number of 46,328,780 common shares at a price of $0.075 per share and defer the payment of [...]
Monarch Mining Corp. announced today that it has reached agreements with certain of its creditors for more than $9.3 million. The Corporation will issue 36,383,805 common shares at a price of $0.075 per share and defer the payment of certain amounts to 2023, 2024 and 2025. This will allow Monarch to reduce its accounts payable and allow time for [...]
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