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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Kerry Knoll, Executive Chairman,

GENERATION MINING

"We will be producing some of the cleanest palladium worldwide."

Can you highlight some of the latest developments at Generation Mining’s Marathon project?

Generation Mining is actively developing our 100%-owned Marathon palladium-copper project in northwestern Ontario. We completed a feasibility study in March 2021, which demonstrated a 30% IRR, a C$1.07 billion NPV and a 2.3-year payback at a US$1,725 palladium and US$3.20 copper price. The study showed that it would produce approximately 245,000 oz/y of palladium equivalent, and putting this into a gold equivalent, it would be about 300,000 oz/y. The Marathon project is significant and would rank in the top 10 precious metal mines in Canada. The capex to build the mine was listed at C$665 million, which is quite reasonable for a mine this size. Generation recently signed a C$240 million streaming deal with Wheaton Precious Metals to help fund the construction, and is actively seeking project debt.

Can you elaborate on the permitting process?

We still have four main jobs to complete moving forward, the first one with the longest timeline being seeking approval of our environmental assessment (EA). We are doing permitting alongside the EA review so that we are ready to go with the permits as soon as possible after EA approval. There are a lot of different permitting routes mining companies in Canada can be in, and the one Generation Mining is in is called a joint review panel, which was jointly appointed by the Province of Ontario and the Federal Government. This panel has a defined amount of time to review the project as they look at the submissions we have given them and come back with questions. When we get to the point where there are no more questions, community hearings with all the interested parties will follow. The panel will make a recommendation to the various ministers of the environment, federally and provincially, who will then make their decision within 90 days, and if positive, the company will be in the position to attain permits. We expect this entire process to take us into the middle of 2022.

How is Generation Mining developing community relations and how are these evolving?

Generation Mining has signed a letter of intent with a large First Nation group close to our site, the Biigtigong Nishnaabeg, and are in the process of concluding a full community benefit agreement with them. We are also in discussion with the Pays Platt First Nation, where we are reasonably close to getting to the letter of intent stage. We are also working with other peripheral First Nation groups who are interested in the environmental impacts of the project. We have close relationships with the surrounding communities and the Mayor of Thunder Bay has announced that the Council is backing our project. The town of Marathon is also very supportive towards both mining in general and our project. Can you elaborate on the ease of access to the Marathon project?

The project has fabulous access with the Trans-Canada Highway coming through the property, and the town of Marathon very close by. The Marathon Airport is actually on our property and there is a CPR (Canadian Pacific Railway) main line coming through the town. The government of Ontario has also spent approximately C$1 billion building the East West Tie power line across Northern Ontario, connecting the South with Thunder Bay to have a truly single grid across the province. This powerline goes right over the Marathon property, allowing us to make use of the grid which only has a 4% carbon footprint. We will thus be producing some of the cleanest palladium worldwide.

Can you elaborate on Generation Mining’s financing situation to push forward the project?

At the end of August 2021, Generation Mining had approximately C$12 million in the bank and we are fully funded for the permitting process. We do however need to raise another C$50 million to get to construction, including the detailed engineering of the project and ordering equipment which has long lead times such as the mining fleet. We are taking a non-diluting financing approach and looking for bridge financing, such as streaming, royalties, or debt-equity to get us to construction.

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Interview: Inventus Mining