Proceeds will be used for its final cash payment to New Gold for the Blackwater gold project.

Miner reported headline earnings for the three months ended March 31 of $203 million, up 42% compared with $143 million a year earlier.

The mine, located 20 km north of Val d’Or, Quebec, produced over 1.1 million oz. of gold and Monarch says it still has strong exploration potential.

GoGold completed a preliminary economic assessment in January 2021 for Los Ricos South outlining both pit-constrained and out-of-pit resources.

The word from Wall St. is “don’t stop buying now,” with Goldman Sachs Group and Bank of America among those advising investors to load up.

A Kyrgyz court ruled that the Canadian-owned firm had violated environmental laws.

The disaster took place in the remote, gold-rich Siguiri province.

Gold could make a run towards $1,857 level, one analyst says.