Monarques Releases its Second Quarter Results

Monarques Gold (TSX:MQR, OTCMKTS:MRQRF, FRANKFURT: MR7) reported its production results and corporate highlights for the second quarter ended December 31, 2018.

Highlights are as follows:

  • Monarques produced 4,417 ounces of gold in the second quarter, up 23 percent from the first quarter but down 19 percent from 5,444 ounces last year.
  • The corporation recorded revenues of C$ 11.4 million in the second quarter from the sale of 5,169 ounces of gold at an average price of C$ 1,656 per ounce (US $ 1,254), combined with revenues from custom milling operations, which were up 2 percent from the first quarter and more than 71 percent year over year.
    • On October 23, 2018, the corporation provided new results from the Probe Metals Inc. 2018 drilling program on the Monique property, located near Val-d’Or, Quebec.
    • On December 3, 2018, the corporation reported positive results from the feasibility study prepared by BBA Inc. for the Wasamac gold project.
    • On December 13, 2018, Monarques announced that it had closed a non‐brokered private placement of an aggregate of 3,029,606 flow‐through shares at a price of C$ 0.33 per flow-through share, for aggregate gross proceeds of C$ 999,769.98.
    • On December 18, 2018, the corporation reported that it had consolidated its position around its Wasamac property through an exchange of mineral claims with Globex Mining Enterprises Inc.
    • On January 15, 2019, the corporation reported additional positive assay results from the 2018 diamond drilling program at its wholly owned Croinor gold project 50 kilometres east of Val-d’Or, Québec.

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