{"id":380453,"date":"2020-11-12T17:03:39","date_gmt":"2020-11-12T22:03:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380453"},"modified":"2020-11-12T17:03:39","modified_gmt":"2020-11-12T22:03:39","slug":"monarch-gold-reports-its-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/","title":{"rendered":"Monarch Gold Reports Its First Quarter Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">MONTREAL<\/span>, <span class=\"xn-chron\">Nov. 12, 2020<\/span> \/PRNewswire\/ &#8211; <b>MONARCH GOLD CORPORATION <\/b>(&#8220;<b>Monarch<\/b>&#8221; or the\u00a0&#8220;<b>Corporation<\/b>&#8220;) (TSX: MQR) (OTCQX: MRQRF) (FRANKFURT: MR7)<b>\u00a0<\/b>reported its results today for the first quarter ended September\u00a030, 2020. Amounts are in Canadian dollars unless otherwise indicated.<\/p>\n<p>\n        <b>Summary of financial results<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>\u00a0(In <\/i><br \/>\n                  <i>dollars, except per share data<\/i><br \/>\n                  <i>)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnmr2\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>THREE MONTHS ENDED<br \/>SEPTEMBER 30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>&#8211;<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,144,699<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>&#8211;<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,586,598<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings (net loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2,531,837)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,178,934<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings (net loss) per share, basic and diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.009)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.005<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prnsbtb0 prnrbrb0 prnsbtb0 prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>(In dollars)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnmr2\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>SEPTEMBER 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnmr2\">\n                <span class=\"prnews_span\">JUNE 30, 2020<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,809,741<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,274,470<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>14,825,617<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,939,261<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>98,449,289<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">92,987,397<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>&#8220;The recently announced transaction with Yamana Gold (see <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2980647-1&amp;h=2689527224&amp;u=https%3A%2F%2Fwww.monarquesgold.com%2Fnews-releases%2Fmonarch-gold-announces-friendly-acquisition-agreement-with-yamana-gold&amp;a=press+release+dated+November+2%2C+2020\" rel=\"nofollow noopener noreferrer\">press release dated <span class=\"xn-chron\">November 2, 2020<\/span><\/a>) is the highlight of this new fiscal year for Monarch and will change the face of Monarch forever for the benefit of our shareholders,&#8221; said <span class=\"xn-person\">Jean-Marc Lacoste<\/span>, President and Chief Executive Officer of Monarch.<\/p>\n<p>&#8220;The new company that will result from the transaction with Yamana Gold will be called Monarch Mining Corp (&#8220;<b>Monarch Mining<\/b>&#8220;). It will be a fully integrated mining company, from exploration through to production. Its assets will include the Beaufor mine, the Croinor Gold, McKenzie Break and <span class=\"xn-location\">Swanson<\/span> gold properties and the Beacon mill, as well as <span class=\"xn-money\">$14 million<\/span> in cash. It is important to note that all those assets will be wholly owned, and that 100% of our titles will be free and clear once the transaction is completed.&#8221;<\/p>\n<p>&#8220;Monarch Mining&#8217;s mission will be to become a gold producer, while continuing to develop its projects with strong exploration potential. A 42,500-metre drilling program is currently under way at the Beaufor mine to increase the mine&#8217;s resources with a view to resuming production and exploration is ongoing at McKenzie Break to build the resource on this very promising high-grade gold project, with results expected in the coming weeks on both projects. Furthermore, given the bull market for gold, we intend to pursue of efforts to find a partner to help us put Croinor Gold into production. The material mined from Croinor Gold and Beaufor could be processed at our fully permitted and operational Beacon mill. Overall, our plan is straightforward, and we intend to execute it to the best of our abilities to make Monarch Mining a success for our shareholders as well,&#8221; concluded Mr. Lacoste.<\/p>\n<p>The technical and scientific content of this press release has been reviewed and approved by Marc-Andr\u00e9 Lavergne, P.Eng., the Corporation&#8217;s qualified person under National Instrument 43\u2013101. <\/p>\n<p>\n        <b>Forward-Looking Statements <br \/><\/b>The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch&#8217;s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.<\/p>\n<p class=\"prntac\">\n        <b><br \/>\n          <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2980647-1&amp;h=2696143369&amp;u=http%3A%2F%2Fwww.monarquesgold.com%2F&amp;a=www.monarquesgold.com\" rel=\"nofollow noopener noreferrer\">www.monarquesgold.com<\/a><br \/>\n        <\/b>\n      <\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=MO90581&amp;sd=2020-11-12\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/monarch-gold-reports-its-first-quarter-results-301172379.html\">http:\/\/www.prnewswire.com\/news-releases\/monarch-gold-reports-its-first-quarter-results-301172379.html<\/a><\/p>\n<p>SOURCE  Monarch Gold Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=MO90581&amp;Transmission_Id=202011121700PR_NEWS_USPR_____MO90581&amp;DateId=20201112\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire MONTREAL, Nov. 12, 2020 \/PRNewswire\/ &#8211; MONARCH GOLD CORPORATION (&#8220;Monarch&#8221; or the\u00a0&#8220;Corporation&#8220;) (TSX: MQR) (OTCQX: MRQRF) (FRANKFURT: MR7)\u00a0reported its results today for the first quarter ended September\u00a030, 2020. Amounts are in Canadian dollars unless otherwise indicated. Summary of financial results \u00a0(In dollars, except per share data ) THREE MONTHS ENDEDSEPTEMBER 30 2020 2019 Revenues &#8211; 3,144,699 Gross margin &#8211; 1,586,598 Net earnings (net loss) (2,531,837) 1,178,934 Net earnings (net loss) per share, basic and diluted (0.009) 0.005 (In dollars) SEPTEMBER 30, 2020 JUNE 30, 2020 Cash and cash equivalents 15,809,741 11,274,470 Investments 14,825,617 14,939,261 Total assets 98,449,289 92,987,397 &#8220;The recently announced transaction with Yamana Gold (see press release dated November 2, 2020) is the highlight of this new &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Monarch Gold Reports Its First Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380453","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monarch Gold Reports Its First Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monarch Gold Reports Its First Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MONTREAL, Nov. 12, 2020 \/PRNewswire\/ &#8211; MONARCH GOLD CORPORATION (&#8220;Monarch&#8221; or the\u00a0&#8220;Corporation&#8220;) (TSX: MQR) (OTCQX: MRQRF) (FRANKFURT: MR7)\u00a0reported its results today for the first quarter ended September\u00a030, 2020. Amounts are in Canadian dollars unless otherwise indicated. Summary of financial results \u00a0(In dollars, except per share data ) THREE MONTHS ENDEDSEPTEMBER 30 2020 2019 Revenues &#8211; 3,144,699 Gross margin &#8211; 1,586,598 Net earnings (net loss) (2,531,837) 1,178,934 Net earnings (net loss) per share, basic and diluted (0.009) 0.005 (In dollars) SEPTEMBER 30, 2020 JUNE 30, 2020 Cash and cash equivalents 15,809,741 11,274,470 Investments 14,825,617 14,939,261 Total assets 98,449,289 92,987,397 &#8220;The recently announced transaction with Yamana Gold (see press release dated November 2, 2020) is the highlight of this new &hellip; Continue reading &quot;Monarch Gold Reports Its First Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T22:03:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=MO90581&amp;sd=2020-11-12\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Monarch Gold Reports Its First Quarter Results\",\"datePublished\":\"2020-11-12T22:03:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/\"},\"wordCount\":481,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=MO90581&amp;sd=2020-11-12\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/monarch-gold-reports-its-first-quarter-results\\\/\",\"name\":\"Monarch Gold Reports Its First Quarter Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/","og_locale":"en_US","og_type":"article","og_title":"Monarch Gold Reports Its First Quarter Results - Market Newsdesk","og_description":"PR Newswire MONTREAL, Nov. 12, 2020 \/PRNewswire\/ &#8211; MONARCH GOLD CORPORATION (&#8220;Monarch&#8221; or the\u00a0&#8220;Corporation&#8220;) (TSX: MQR) (OTCQX: MRQRF) (FRANKFURT: MR7)\u00a0reported its results today for the first quarter ended September\u00a030, 2020. Amounts are in Canadian dollars unless otherwise indicated. Summary of financial results \u00a0(In dollars, except per share data ) THREE MONTHS ENDEDSEPTEMBER 30 2020 2019 Revenues &#8211; 3,144,699 Gross margin &#8211; 1,586,598 Net earnings (net loss) (2,531,837) 1,178,934 Net earnings (net loss) per share, basic and diluted (0.009) 0.005 (In dollars) SEPTEMBER 30, 2020 JUNE 30, 2020 Cash and cash equivalents 15,809,741 11,274,470 Investments 14,825,617 14,939,261 Total assets 98,449,289 92,987,397 &#8220;The recently announced transaction with Yamana Gold (see press release dated November 2, 2020) is the highlight of this new &hellip; Continue reading \"Monarch Gold Reports Its First Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-12T22:03:39+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=MO90581&amp;sd=2020-11-12","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Monarch Gold Reports Its First Quarter Results","datePublished":"2020-11-12T22:03:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/"},"wordCount":481,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=MO90581&amp;sd=2020-11-12","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/monarch-gold-reports-its-first-quarter-results\/","name":"Monarch Gold Reports Its First Quarter Results - 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