Generation Mining (GENM.TO) isn’t wasting any time, as the company announced it has commenced construction at its fully owned Marathon copper-palladium project in Northwestern Ontario. A C$6.5M bond has been posted for the construction phase of the closure plan, and early works have now commenced. On top of that, Generation Mining made C$30M in downpayments to secure C$150M in equipment, and once again these purchases are coming in at or below the cost estimated in the feasibility study. It goes without saying the project gets derisked for every element of the capex that gets locked in at a fixed price.
Disclosure: The author has a long position in Generation Mining. Generation is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
