Moneta Gold
Primary ticker: TSX:ME, OTCQX:MEAUF, EXTRA:MOP
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Tower Gold Project
Project location: Timmins, Ontario
Website: www.monetagold.com
Moneta is a Canadian-based gold exploration company focused on advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern Ontario, Canada’s most prolific gold producing camp. A September 2022, Preliminary Economic Assessment study outlined a combined open pit and underground mining and a 7.0 million tonne per annum conventional leach/CIL operation over a 24-year mine life, with 4.6 Moz of recovered gold, generating an after-tax NPV5% of $1,066M, IRR of 31.7%, and a 2.6-year payback at a gold price US$1,600/oz. Tower Gold hosts an estimated gold mineral resource of 4.5 Moz indicated and 8.3 Moz inferred. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource upgrade drilling program, while conducting all business activities in an environmentally and socially responsible manner.
Cash: CAD$14M
Debt: NIL
Major shareholders:
1832 Asset Management
Dundee Goodman
Franklin Templeton
Gabelli
K2 & Associates
Financials
Management Profile
Mr. Gary O’Connor, is currently President and CEO of the Company. He has over 30 years of experience in international mineral exploration and development. He is a Member of the Australasian Institute of Mining and Metallurgy (FAusIMM), a Fellow of the Society of Economic Geology, and holds a graduate degree in geology, geophysics and environmental studies from the University of Auckland.
Mr. O’Connor was Vice-President of Dundee Resources from 2007 to 2017 where he guided investment decisions with his technical due diligence on 200+ resource projects across all continents and covering gold, diamonds, base metals, bulk commodities and uranium.
From 2000 to 2007, Mr. O’Connor was Vice-President, Exploration of Gabriel Resources Ltd. where he directed the drill out and feasibility of the 16+Moz Rosia Montana gold resource, the discovery and scoping of the Rodu-Frasin gold deposit (~2Moz), as well as the drill out and scoping studies of the large (500+MMt) Tarnita and Rosia Poieni Cu-Au porphyry deposits. Mr. O’Connor was Vice-President, Exploration of European Goldfields from 2000 to 2003 where he was responsible for the discovery, drill out and scoping studies of a number of deposits in the belt including the Certej gold deposit (3Moz), the Teascu (0.5Moz) gold deposit, and Hanes gold deposits (0.6Moz).
From 1990 to 2000 he worked as District Exploration Manager for Freeport-McMoRan (“Freeport”) in Indonesia where he was responsible for exploration of the Papuan Belt. His successes include the discovery, drill out, resource estimation and scoping study of the Wabu Gold skarn deposit (12+Moz), the drill out of two large (500+MMt) Duwagu and Komopa Cu-Au porphyry deposits, the discovery of the Etna Bay Cu-Au porphyry deposit for which he received the Freeport President’s Award for exploration success, the discovery of the Mamoa Au-Cu porphyry system, as well as a number of epithermal gold, skarn and porphyry copper-gold projects including the Siduarsi Ni-Co laterite deposit (100+MMt @ 1.1% Ni, 0.12% Co). During his term at Freeport, Mr. O’Connor also worked on the due diligence which led to the revelation of the major fraud committed by Bre-X Minerals with its Busang gold “deposit” in Kalimantan, Indonesia.
What is your rationale for taking part 121 Mining Investment?
Our Tower Gold project is located in the prolific and safe mining jurisdiction of Timmins, Ontario, Canada. The Tower Gold project hosts 12.8 million ounces of gold (4.5 M indicated + 8.3 M ounces inferred) in a recent NI 43-101 mineral resource estimate. This is one of the top 3 undeveloped gold projects in Canada with a mineral resource over 10M ounces.
What recent news would you like to highlight to investors attending?
Moneta Gold produced an updated Preliminary Economic Assessment (“PEA”) on the project in September 2022 which outlined the robust economics of the project. Net Present Value (NPV5%) is C$1,066 M after-tax, Internal Rate of Return is 31.7% after-tax at a gold price of US$1,600/oz gold and exchange rate of US$0.78/C$. The PEA outlined a mine life of 24 years with average annual gold production of 261,014 in years 1-11.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
The company is currently conducting a 190,000 metre drill program to upgrade mineral resource categories from the inferred category to the indicated category further de-risking the project.
6 Months :
The Company will produce an updated Mineral Resource Estimate on the Tower Gold Project in 2024. A pre-feasibility study is well underway and is expected to be delivered in 2024.
The Company will produce an updated Mineral Resource Estimate on the Tower Gold Project in 2023. The pre-feasibility study is well underway and expected to be delivered in 2024.
What do you think makes your company such a compelling investment?
The Tower Gold project is located in a safe and well established mining jurisdiction in Timmins, Ontario, Canada.
The Tower Gold project is one of the largest undeveloped gold projects in Canada with over 12 million ounces of gold.
What are the top 3 key investor takeaways?
One of the top 3 undeveloped gold projects in Canada with over 10M ounces of gold.
Pre-feasibility study (PFS) well underway.
Robust economics were delivered with our recent PEA study on the Tower Gold project.