Mike Fagan,
Editor
Aug. 17, 2021
Generation Mining (TSX: GENM)(OTC: GENMF) — currently trading around C$0.80 per share — has tapped Endeavor Financial to lead the financing parameters of the pending development of its flagship, 80.7%-owned Marathon palladium-copper project in northwestern Ontario, Canada.
Endeavor is one of the premier financial advisory firms in the mining space, and members of Gen Mining’s board have worked extensively with the firm on past projects.
Gen Mining Executive Chairman, Kerry Knoll, commented via press release:
"We look forward to working with the Endeavour Financial team to evaluate the many financing proposals we have received and to introduce us to many new potential investors. Members of our board of directors have worked extensively with Endeavour in the past, and I myself have business relationships going back almost three decades. We expect that ultimately production financing will be some combination of debt, royalties or streaming, and equity, with a focus on keeping the equity portion as low as possible. Endeavour is not expected to be involved in the equity portion.”
Keeping shareholder dilution to a minimum is an important component of mine project financing, and, clearly, the Gen Mining board, in working with Endeavor, is committed to bringing the Marathon project to viability with that in mind.
The Marathon project is already considered the largest undeveloped platinum group metals (PGM) mineral resource in North America with payable metals of:
- 1.9M oz palladium
- 467M lbs copper
- 537,000 oz platinum
- 151,000 oz gold
- 2.8M oz silver
With resource expansion drilling continuing and with an established minority partner in Sibanye-Stillwater, Generation Mining has emerged as one-to-watch in the green-metals space as North America elevates its focus on clean-energy generation for a brighter future for our planet.
You can access our feature report on Gen Mining here.
Yours in profits,
Mike Fagan
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.