- Marathon Gold released its maiden resource estimate for its Berry deposit, with the ~639,000-ounce resource easily exceeding my expectations.
- This resource has pushed the global gold resource at the Valentine Lake Project to ~4.78 million ounces, putting Marathon just shy of the elusive 5 million-ounce mark.
- Assuming a 70% conversion rate for Berry ounces, this should add at least two years to Marathon's already very respectable mine life, which currently comes in at 13 years.
- This solid regional upside should ultimately improve Marathon's project economics, emboldening the thesis that Marathon is a top-5 takeover target in the sector.
For further details see:
Marathon Gold: Knocking On The Door Of A 5 Million-Ounce Resource Base