Marathon Gold Corp (MOZ-T)

Merger with CXB. Could argue that this takes away the true upside of the Valentine project, which is under construction. Met a shortfall in financing to complete the mine. From CXB's view, you could argue that merger reduces risk, improves capitalization, diversifies outside Canada. 

Investors did not like MOZ's revised study last year, and until recently the sector has not done much, either. The stock is down 25% YTD and 57% in 52-weeks. The recent cost update does show a slightly lower cost than last year, but of course this can change as construction continues. It now has 440 workers and is 27% complete.  It remains on schedule for first gold pour in Q1 2025. There has been some minor insider buying. We consider it 'OK'. It is always hard to ascertain value when a mine is under construction. Problems can develop, and the mine has to perform to specifications. We have no specific reason to worry, but there is always risk (grades, costs, environment, inflation). We think it is a decent project, but share count has risen sharply and could still go higher. Once the mine is operational the stock should get re-rated, assuming all goes as planned.
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He follows it. Likes it. He has a $14 price target. Has great potential.

They put out a resource and the shares have fallen back. It is an economic resource and quite impressive. The difficulty is how to mine it. They need to add more oz. and mine them economically. But it is a good name to own.

He likes the work they are doing. The fact that it is an advanced exploration project in Canada giving good results (if the results continue) it will be taken over.

They’ve done a great job of drilling. Have a big thrust fault where they are finding a lot of gold. His issue with this was the continuity of the gold with respect to actually developing an ore body. If interested in this stock, keep an eye on the amount of drilling they’re doing.

This is a sleeper. It is a Canadian discovery that is shaping up very nicely, and is miraculously under owned by Canadians. He likes the exploration potential.