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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Generation Mining Limited    GENM   CA37149B1094

GENERATION MINING LIMITED

(GENM)
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Generation Mining : Welcomes Appointment of Federal, Provincial Environmental Review Panel for Marathon Project

11/18/2020 | 11:37am EST

Toronto - Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) ('Gen Mining' or the 'Company') welcomes the recent announcement by the Government of Canada and the Province of Ontario of the appointment of the Joint Review Panel (JRP) to conduct the environmental assessment of the Company's Marathon Palladium and Copper Project in Northwestern Ontario.

'Generation Mining and all of our stakeholders look forward to supporting the panel members and both governments as they complete their review of our project in a timely manner. As always, our priority is to ensure that we contribute to a meaningful and collaborative consultation process as the Project comes to fruition,' said Jamie Levy, President and Chief Executive Officer of the Company.

'This Project will bring direct economic benefits to the town of Marathon, the surrounding communities, and Indigenous groups in Northern Ontario. It will also give Canada a strategic position in a globally competitive mineral market for palladium and copper, both essential to Canada's green economy,' concluded Levy.

About Generation Mining Limited

Gen Mining's focus is the development of the Marathon Palladium-Copper Project, the largest undeveloped platinum group metal Mineral Resource in North America. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square kilometres. Gen Mining acquired a 51% interest in the Marathon Project from Sibanye Stillwater in 2019 and is in the process of increasing that ownership to 80%. A feasibility study was started in the second quarter of 2020 with completion expected in the first quarter of 2021.

Contact:

Jamie Levy

Tel: (416) 640-2934

Email: jlevy@genmining.com

Forward-Looking Information

This news release includes certain information that may be deemed 'forward-looking information' under applicable securities laws. All statements in this release, other than statements of historical facts, that address the ability of the Company and Sibanye Stillwater to vary their respective participating interests in the Marathon Property, Mineral Resource and Reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, among other factors, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GENERATION MINING LIMITED 1.22% 0.83 Delayed Quote.3.80%
SIBANYE STILLWATER LIMITED -0.31% 61.92 End-of-day quote.3.20%
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Financials (USD)
Sales 2019 - - -
Net income 2019 -13,9 M -10,9 M -10,9 M
Net cash 2019 1,04 M 0,82 M 0,82 M
P/E ratio 2019 -1,04x
Yield 2019 -
Capitalization 114 M 89,4 M 89,5 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 75,6%
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Mean consensus BUY
Number of Analysts 1
Average target price 0,76 $
Last Close Price 0,64 $
Spread / Highest target 17,6%
Spread / Average Target 17,6%
Spread / Lowest Target 17,6%
Managers and Directors
NameTitle
Jamie Levy President, Chief Executive Officer & Director
Kerry J. Knoll Chairman
Drew Anwyll Chief Operating Officer
Brian E. Jennings Chief Financial Officer
Stephen W. Reford Independent Director
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