Generation Mining Continues with Project Optimizations for the Marathon Palladium-Copper Project
The work will include optimizing design, supply and construction strategies with the assistance of original equipment manufacturers, contractors and construction consultants, to help improve the overall cost and construction efficiency of designs. The focus will be on ensuring that the plant and infrastructure designs are ‘fit-for-purpose’ and leverage the improved understanding of actual site conditions to reduce the quantities of building steel and foundation concrete.
The Company is also concurrently evaluating alternative pit sequencing options that further exploit the benefit of the ore body’s proximity to surface. This mine planning optimization is intended to produce higher cash flows in the early years of production by maximizing plant feed grades and reducing the initial stripping requirements until later in the mine life.
The work has commenced as of late-April and will continue throughout the coming months. The Company will provide further updates on the optimization initiatives when completed.
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Gen Mining’s focus is the development of the
The Feasibility Study estimates a Net Present Value (using a 6% discount rate) of
The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometres. Gen Mining owns a 100% interest in the
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Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating to the intended outcomes of the design optimizations and optimization initiatives, such as decreasing initial capital costs, reducing the operating-phase costs, enhancing the project economics or construction readiness, improving initial capital requirements or cash flows from operations, expanding or altering potential mine pit designs or sequencing, and reducing the quantities of building steel and foundation concrete required for construction; and statements related to the anticipated life of mine; mineral production estimates, payback period, and financial returns from the
Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. In particular, there can be no assurance that the design optimizations and optimization initiatives will generate the anticipated results or benefits described herein. There are other factors that could also cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of
development at the
Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR+ at www.sedarplus.ca .
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For further information please contact:
President and Chief Executive Officer
(416) 640-2934 (O)
(416) 567-2440 (M)
jlevy@genmining.com
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