Marathon Project

Permit to Remove (Trees) Issued for Generation Mining’s Marathon Palladium-Copper Project

Retrieved on: 
Tuesday, November 21, 2023
Natural Resources, Other Natural Resources, Mining, Minerals, Ministry, Permit, Forestry, Marathon Project, Mine closure planning, Tree, Conservation, Atmosphere, TSX, Noise, Television, Environment

Generation Mining Limited (TSX:GENM)(OTCQB: GENMF)(“Gen Mining” or the “Company”) is pleased to announce that the Ministry of Natural Resources and Forestry of the province of Ontario has issued the Permit to Remove (trees) for the Marathon Palladium-Copper Project.

Key Points: 
  • Generation Mining Limited (TSX:GENM)(OTCQB: GENMF)(“Gen Mining” or the “Company”) is pleased to announce that the Ministry of Natural Resources and Forestry of the province of Ontario has issued the Permit to Remove (trees) for the Marathon Palladium-Copper Project.
  • This represents yet another approval received in the permitting process for the Marathon Palladium-Copper Project.
  • The Company continues to make significant progress on obtaining permits for the Marathon Project.
  • In August 2023 we received our Endangered Species Act Permit and in September the Company received the Environmental Compliance Approval issued by the Ministry of Environment, Conservation and Parks for air and noise emissions for the Marathon Project.

Closure Plan Approved for Generation Mining’s Marathon Palladium-Copper Project – Major Milestone Met

Retrieved on: 
Tuesday, November 7, 2023
Mining, Minerals, Natural Resources, Conservation, Marathon Project, First Nations, Biigtigong Nishnaabeg, Project, Atmosphere, Ministry, Mine closure planning, Town, Noise, Park, Marathon, TSX, Environment

Generation Mining Limited (TSX:GENM)(OTCQB: GENMF)(“Gen Mining” or the “Company”) is pleased to announce that the province of Ontario has accepted and filed the Closure Plan for the Marathon Palladium-Copper Project.

Key Points: 
  • Generation Mining Limited (TSX:GENM)(OTCQB: GENMF)(“Gen Mining” or the “Company”) is pleased to announce that the province of Ontario has accepted and filed the Closure Plan for the Marathon Palladium-Copper Project.
  • This represents another major milestone in the permitting process for the Marathon Palladium-Copper Project.
  • The Marathon Palladium-Copper Project is a valuable and strategic asset containing critical metals that are needed to support emissions controls and the transition to a greener economy.
  • In August 2023 we received our Endangered Species Act Permit and in September the Company received the Environmental Compliance Approval issued by the Ministry of Environment, Conservation and Parks for air and noise emissions for the Marathon Project.

Generation Mining Announces C$15 Million Bought Deal Financing

Retrieved on: 
Friday, October 27, 2023
Sale, Marathon Project, Toronto Stock Exchange, Issue, Haywood, Bookrunner, Offering, Common, United States securities regulation, Unit, Indian stock exchange, Income Tax Act 1967, Marathon, TSX, Income Tax Act, Security (finance)

TORONTO, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Generation Mining Limited (TSX:GENM) ("Gen Mining" or the "Company") is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”) sole underwriter and bookrunner, pursuant to which Haywood has agreed to purchase, on a bought deal basis, (i) 42,858,000 units (the “Units”) in the capital of the Company at a price of C$0.28 per Unit (the “Issue Price”), and (ii) 9,678,000 flow-through units (the “FT Units” and together with the Units, the “Offered Securities”) in the capital of the Company at a price of $0.32 per FT Unit (the “FT Issue Price”) for aggregate gross proceeds to the Company of $15,000,420 (the “Offering”).

Key Points: 
  • Each Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-fifth (1/5) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company.
  • Each FT Unit will consist of one Common Share that will qualify as a “flow-through share” and one-fifth (1/5) of one Warrant.
  • The Offered Securities will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Québec.
  • Securities Act”), and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.

Generation Mining Announces US$400 Million Senior Debt Facility Mandate with EDC, ING, and Societe Generale

Retrieved on: 
Tuesday, May 2, 2023
Mining, Minerals, Natural Resources, LLP, Description of the Medieval Warm Period and Little Ice Age in IPCC reports, Wheaton Precious Metals, CDN, Shearman & Sterling, Hoesung Lee, Metal, Marathon Project, Marathon, Climate change, ING, Mandate, US, Documentation, Société Générale, Blackwell, TSX, Export Development Canada, Facility, EDC, Member of the Legislative Assembly, Health insurance, Cryptocurrency

A syndicate including Export Development Canada (“EDC”), together with ING Capital LLC (“ING”) and Societe Generale S.A. (“Societe Generale”) will act as the Mandated Lead Arrangers (“MLAs”).

Key Points: 
  • A syndicate including Export Development Canada (“EDC”), together with ING Capital LLC (“ING”) and Societe Generale S.A. (“Societe Generale”) will act as the Mandated Lead Arrangers (“MLAs”).
  • The formal Mandate includes a non-binding indicative term sheet (the “Term Sheet”) for a senior debt facility of up to US$400 million (the “Facility”).
  • The execution of the Mandate is a key milestone in the project financing process for the development of the Marathon Project.
  • EDC, ING, and Societe Generale were chosen as MLAs due to their extensive experience providing project finance to greenfield mining projects and the strength of their mining teams.

Generation Mining Finalizes Offtake Term Sheet with Glencore for Copper Concentrate

Retrieved on: 
Monday, March 27, 2023
Natural Resources, Other Natural Resources, Mining, Minerals, Gen, Marathon Project, Silver, Platinum, Palladium, Gold, Documentation, TSX, Copper, Metallurgy, Glencore

Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Gen Mining” or the “Company”) has finalized an offtake term sheet with Glencore International AG (“Glencore”) for copper concentrate, containing copper, palladium, platinum, gold, and silver, to be produced at Gen Mining’s Marathon Palladium-Copper Project, located near Marathon, Ontario.

Key Points: 
  • Generation Mining Limited (TSX: GENM) (OTCQB: GENMF) (“Gen Mining” or the “Company”) has finalized an offtake term sheet with Glencore International AG (“Glencore”) for copper concentrate, containing copper, palladium, platinum, gold, and silver, to be produced at Gen Mining’s Marathon Palladium-Copper Project, located near Marathon, Ontario.
  • Under the term sheet, Glencore will purchase an average of 50% of the total copper concentrate to be produced from the Marathon Palladium-Copper Project.
  • The term sheet includes anticipated specifications for the polymetallic copper concentrate expected to be produced at the Marathon Project, treatment and refining charges, and applicable penalties, if any, for deleterious elements.
  • This offtake term sheet also provides additional benefits for Gen Mining, including attractive metal payment terms, credit support from Glencore for the Project’s environmental reclamation financial surety requirements, and working capital facilities.