Monarques Releases its Second Quarter Results

Monarques Gold reported its production results and corporate highlights for the second quarter ended December 31, 2018.

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.