Major PGM Resource Now One Step Closer to Becoming a Mine
by Mike Fagan
Generation Mining (TSX: GENM)(OTC: GENMF) — currently trading around C$0.90 per share — has submitted an Environmental Impact Statement (EIS) to a Joint Review Panel for its 80%-owned Marathon palladium-copper project in Northwestern Ontario, Canada.
The EIS process includes a public comment period that will run through June 27th.
This major milestone comes on the heels of the company’s recently released Feasibility Study, which outlines a scenario for a 13-year open pit mine life and 2.3-year payback period with payable metals of:
- 1.9M oz palladium
- 467M lbs copper
- 537,000 oz platinum
- 151,000 oz gold
- 2.8M oz silver
Generation Mining CEO, Jamie Levy, commented via press release:
The Marathon project is considered the largest undeveloped platinum group metals (PGM) mineral resource in North America. Generation is currently earning-in 80% from NYSE-listed Sibanye-Stillwater.
2021 drilling is continuing in two stages: a 3,000-meter winter phase is wrapping up with a 5,000-meter summer phase set to follow.
WIth environmental studies and resource expansion drilling underway… now is an excellent time to conduct your own due diligence on Generation Mining — and a great place to start is the company’s corporate website.
Be sure to also click here for our most recent report on Generation Mining.
Yours in profits,
Editor, Resource Stock Digest
Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.