Monarch Mining drops on suspending Beaufor mine operations
28/09/2022 16:02
** Shares of Monarch Mining Corp GBAR.TO plunge as much as
41.6% to record low of C$0.07
** GBAR on Tuesday said it has suspended its operations at
Beaufor Mine in Canada due to financial and operational
challenges
** GBAR says mine will be put on care and maintenance for
undetermined period
** Company says Beacon Mill, located near Beaufor Mine, will
be placed under care and maintenance after processing 20,000
tonne stockpile to generate funds
** Co also says it has started a strategic review of its
assets and operations
** GBAR down 90% so far this year
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))
Recent news on Monarch Mining
See all newsBrief: Monarch Mining Corp Announces Implementation Of Sale & Investment Solicitation Process
Brief: Monarch Says Placed Under The Protection Of The CCAA To Ensure A Responsible, Controlled, And Orderly Restructuring Of Its Affairs
Brief: Monarch Mining Corp Says Investissement Québec Has Served Co A Prior Notice Of Exercise Of A Hypothecary Right
Brief: Monarch Announces Closing Of Sale Of Croinor Property
Brief: Monarch Signs Royalty Buyback Option Agreement With Gold Royalty