TORONTO, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Moneta Gold Inc. (TSX:ME) (OTCQX:MEAUF) (XETRA:MOP) (“Moneta” or the “Company”) is pleased to announce the Company’s participation in the OTC Metals & Mining Virtual Conference for 1x1 meetings as well as a general presentation that will be broadcast live on Tuesday October 18, 2022 at 2:00 pm ET.
Moneta invites individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentations on VirtualInvestorConferences.com.
DATE: October 18th, 2022
TIME: 2:00 pm EST
LINK: https://bit.ly/3q1Z3Ka
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
Learn more about the event at www.virtualinvestorconferences.com.
Moneta is also available for 1x1 meetings: October 19th & 20th, 2022.
Recent Company Highlights
On September 7, 2022, Moneta released the Preliminary Economic Assessment (“PEA”) results for its 100% owned Tower Gold project in Timmins, Ontario, Canada’s most prolific gold producing camp. The PEA demonstrates the potential to develop a low-cost 19,200 tonnes per day (“tpd”), or 7.0 million tonne per annum (“tpa”), combined open pit and underground mining operation with strong economics and the opportunity for significant benefit to the Indigenous Nations, local stakeholders, and shareholders. Highlights included:
- Robust economics with an after-tax Net Present Value (“NPV5%”) of C$1,066 million, Internal Rate of Return (“IRR”) of 31.7%, and pay-back of 2.6 years at US$1,600/oz gold and FX of US$0.78/C$
- Low capital intensity project achieved by a sequenced development strategy, with underground development starting in year 1
- Mine life of 24 years, with average annual gold production of 192,666 ounces (“oz”) for total LOM of 4,581,000 oz, and average annual gold production of 261,014 oz in years 1 to 11, with peak production of 368,622 oz
- LOM cash cost of US$910/oz and all-in sustaining cost (“AISC”) of US$1,073/oz, with cash cost of US$811/oz and AISC of US$1,004/oz for years 1 to 11
- Several opportunities to improve PEA including, expansion of underground resources and throughput, mill expansion (notably after year 11), and site layout optimization
The Company has started pre-feasibility work, including environmental base-line studies, community engagement, geotechnical and hydrological studies, as well as additional metallurgical recovery test-work, and will continue resource upgrade and infill drilling over the next year.
About Moneta Gold
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.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O’Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
The Company’s public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.
This news release includes certain forward-looking information and forward-looking statements, collectively “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements include but are not limited to information with respect to the closing of the Offering, the use of proceeds, the timing of the renunciation and tax treatment of the Flow Through Shares as well as future performance of the business, its operations and financial performance and condition such as the Corporation’s drilling program . Forward-looking statements are subject to inherent risks and uncertainties including without limitation the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19 and the ability of the Corporation to finance and carry out its anticipated goals and objectives. International conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; the impact of Russia’s invasion of Ukraine and the widespread international condemnation has had a significant destabilizing effect on world commodity prices, supply chains, inflation risk, and global economies more broadly, may adversely affect the Corporation's business, financial condition, and results of operations.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.
