Monarques Signs Deal to Process Ore from Eldorado's Lamaque Gold Mine

Monarques Gold Corp. (TSXV:MQR) announced that it has signed a custom milling contract with Eldorado Gold Corp. (TSX:ELD,NYSE:EGO). Under the agreement, the company will process ore from Eldorado’s Lamaque gold mine in Quebec.
As quoted in the press release:

The contract provides for the Corporation to process some 50,000 to 55,000 tonnes of ore from the Lamaque mine ore at the Camflo mill until December 31, 2017. The contract can be extended by mutual agreement of both parties.

Jean-Marc Lacoste, president and CEO of Monarques, commented:

This is very good news for Monarques and our team at the Camflo mill. This contract will enable the Camflo mill to operate at 90% of its 1,200 tonne-per-day capacity, and will effectively reduce the operating costs for the Beaufor mine over the coming months. We have also received a certificate of authorization from Quebec’s ministry of sustainable development, environment and climate change to increase the operating capacity of the Camflo mill to 1,600 tonnes per day, allowing us to offer custom milling services to other prospective clients.

Click here to read the full Monarques Gold Corp. (TSXV:MQR) press release.