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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

Gary O’Connor, CEO and Chief Geologist,

MONETA GOLD

"We are right in the middle of the new investments taking place and we have the largest set of undeveloped projects there."

Can you elaborate on the Moneta Gold’s name change and the progress made in your flagship project, Tower Gold?

Changing our name from Moneta Porcupine Mines to Moneta Gold was our way of adapting to the new era of search engines and social media. It was time for a rebrand to focus our strategy primarily on gold, especially following the acquisition of the adjacent Garrison project. In December 2020, we updated our resources and added a new underground discovery with significant open pit resources at Westaway. The acquisition of the adjacent open pit resources at Garrison was completed in February. This increased our resources to 8.4 million ounces, of which 4.4 million ounces are indicated, 4 million are inferred, and 2.8 million ounces are underground, while 5.6 million are open pit. One more round of drilling was planned to test southwest near-surface resources, Westaway and others. A 70,000 m resource expansion program will be completed in 2021. We expect to have a resource update by early 2022, following processing and an assaying geology model.

A PEA will follow the updated resource for the new combined Tower Gold project, including all of the Golden Highway and Garrison zones. We will also embark on a PFS, to be completed by early 2023. We are well underway with our environmental baseline study and have already initiated our community engagement programs. The DFS will likely begin in 2024.

What is the secret behind the performance of your share price relative to your peers?

The first trigger that the market took note of was our resource update last year. Our share price then increased further following our deal with O3 Mining. They are our largest shareholder, with a 26% shareholding, and were brought in as a partner with the acquisition of the Garrison project. They are looking forward to playing a part in a major gold development story so our visions are aligned. People liked the idea of the consolidation of a much larger project. It is also a reflection of the marketing strategy we put in place.

How do you strike a balance between delays in assay results and keeping a steady news flow?

Laboratories are overwhelmed and were unprepared for the large volume of work this year. We have been affected by that in North America, and it will impact our resource update. Another reason laboratories are delaying the results is due to Covid-19 and social distancing measures, limiting the number of staff available. We did not feel tremendous pressure from investors regarding these delays. Nonetheless, our shareholders want to see a steady news flow, which we take into account. We are considering alternatives and doing what we can to get results back as soon as possible. Moneta relies on a primary laboratory and a secondary one. One must be careful not to send samples to too many laboratories as you need to maintain similar procedures and QA/QC.

Given the rising interest in metals such as copper and nickel, why does gold remain an attractive investment opportunity?

Gold remains a great store of wealth and hedge against inflation. The volatility of currencies, particularly the dollar, only puts gold more in the spotlight. In many countries, the main store of wealth is to buy gold, and in some, everything from rentals to financial agreements are backed by gold equivalents. It also has other uses in the electronics industry, for example. Demand for gold is set to increase.

What potential do you see for Timmins?

Timmins is Canada’s largest most prolific gold mining camp. It offers excellent infrastructure and resources, and is a prime camp for new development. Since infrastructure is already existent, our operations have a lower carbon footprint relative to other jurisdictions, since we do not need to build new roads or structures. Recent M&A activity has attracted the world’s largest gold producers, such as Newmont who acquired Goldcorp. Kirkland Lake, who is a major player in the region, merged with Agnico Eagle. We are right in the middle of the new investments taking place and we have the largest set of undeveloped projects there.

Next:

Interview: Goldshore Resources