- Marathon Gold was one of the top-performing gold stocks this year up until recently, posting a 30% plus return vs. the Gold Miners Index's (-) 10% return.
- Unfortunately, the request for an amendment to the EIS has put a dent in the share price, with construction unlikely to begin before July 2022, vs. Q1 2022 previously.
- Ultimately, I don't see any reason why full permits won't be granted here, suggesting that this correction should provide a buying opportunity if it continues much longer.
- Given Marathon's scarcity as a mid-grade open-pit operation in a Tier-1 jurisdiction with modest capex, I continue to see the stock as a takeover target, and would view pullbacks below US$1.81 as low-risk buying opportunities.
For further details see:
Marathon Gold: A Minor Setback