Minnova Corp (MCI) SEDAR+ Filings
TSXV: MCI · Gold · Development stage
- Market cap$21.6M
- Share price$0.175
- 52-week range$0.120 – $0.500
- Shares outstanding123,568,795
- ExchangeTSXV
- Websitewww.minnovacorp.ca
Minnova Corp. is a near term gold producer focused on the restart and expansion of its 100%-owned PL Gold Mine in the prolific Flin Flon Greenstone Belt of Central Manitoba. The project is situated on a past producing mine site and benefits from significant existing infrastructure, including a 1,000 tpd processing plant and valid underground mining permit (Environment Act License 1207E). A positive 2017 Feasibility Study, based on an underground development plan and a gold price of US$1,250 per ounce, outlined a robust 5-year mine life with an annual production rate of 46,493 ounces. Given the current high gold price Minnova is revising the mine development plan to prioritize lower-cost open pit mining methods for the initial years of production before transitioning to underground methods. A Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program
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SEDAR+ Filings for Minnova Corp (TSXV: MCI) on MineTerminal Pro.