Latest news with #GenerationMining
National Post
3 days ago
- Business
- National Post
Generation Mining Appoints Kyle Kuntz to Board of Directors Strengthening Development and Construction Expertise
Article content TORONTO — Generation Mining Limited (TSX:GENM)(OTCQB: GENMF) (' Generation Mining ' or the ' Company ') is pleased to announce the appointment of Kyle Kuntz to its Board of Directors. Article content Mr. Kuntz is a mining project executive with over a decade of experience leading large-scale mining developments across North America. He currently holds the position of Vice President, Projects at Equinox Gold Corp. Before joining Equinox, he served as Director, Projects at Marathon Gold Corp., where he remained through its acquisition by Calibre Mining and the subsequent merger with Equinox. During his tenure at Calibre, he was responsible for overseeing the construction of the Valentine Gold Project. Earlier in his career, he held key roles with JDS Energy & Mining Inc., the Nuna Group of Companies, and Stantec. Mr. Kuntz brings deep expertise in transforming mineral projects from feasibility studies into operational assets, with a focus on project management, engineering leadership, procurement strategies, and construction execution. Article content Article content 'We are delighted to welcome Kyle to our Board of Directors,' said Kerry Knoll, Chairman of Generation Mining. 'His leadership at the Valentine Gold Project and his deep understanding of the technical, regulatory, and stakeholder engagement processes will strengthen our Board as we advance our Marathon Copper-Palladium Project toward construction. His hands-on experience guiding a major Canadian mining project through construction brings added technical capacity to our Board as Generation Mining enters its next phase of growth.' Article content 'I'm excited to join the Generation Mining Board and contribute to the advancement of the Marathon Project,' said Mr. Kuntz. 'With the growing importance of critical minerals like copper and palladium, this project is strategically positioned to play a key role in Canada's resource future.' Article content About the Company Article content Generation Mining's focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Generation Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. Article content The Feasibility Study (the ' Technical Report ') estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company's profile at or on the Company's website at Article content Qualified Person Article content The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, Technical Services Manager of Generation PGM Inc., a wholly-owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects. Article content Forward-Looking Information Article content This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements)'. Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved, including statements relating to the Article content including statements relating to projected capital and operating costs (including the AISC); the timing and volume of payable metal production and revenues; and the economic analysis and results (including NPVs and payback periods). Article content Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company's plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company's decisions with respect to capital allocation, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company's relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company's annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at Article content Article content . Article content Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at Article content Article content Article content Article content Article content Contacts Article content For further information please contact: Article content
National Post
24-06-2025
- Business
- National Post
Generation Mining Closes $11.5 Million Bought Deal Financing
Article content TORONTO — Generation Mining Limited (TSX:GENM)(OTCQB: GENMF) (' Generation Mining ' or the ' Company ') is pleased to announce that it has completed its previously announced private placement of $10 million of units of the Company (the ' Units ') including the full exercise of the Underwriters' (as defined below) option, for aggregate gross proceeds of approximately $11.5 million (the ' Offering '). The Offering was conducted by a syndicate of underwriters led by Stifel Nicolaus Canada Inc., and including Haywood Securities Inc. (collectively, the ' Underwriters '), and consisted of the sale of 31,082,200 Units at a price of $0.37 per Unit. Article content Article content Each Unit comprised of one common share in the capital of the Company (each a ' Common Share ') and one-half (½) of one common share purchase warrant of the Company (each whole warrant, a ' Warrant '). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.48 at any time from August 24, 2025 until August 24, 2028. Article content The Company intends to use the net proceeds from the Offering on the development of its Marathon Project and for general corporate purposes. Article content The Units were issued pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions, to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The Offering remains subject to the final approval of the Toronto Stock Exchange. Article content The Company also announces that Mr. Eric Sprott, through 2176423 Ontario Inc., a corporation beneficially owned by him, acquired Units in the Offering to maintain his pro rata ownership interest in the Company. Article content In connection with the Offering, Jamie Levy, the President, Chief Executive Officer and a director of the Company, acquired 189,190 Units, Phillip C. Walford, a director of the Company, acquired 67,560 Units, and Stephen Reford (together with Messrs. Levy and Walford, the ' Insiders '), a director of the Company, acquired 60,000 Units. Participation by the Insiders in the Offering was considered a 'related party transaction' pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders' participation in the Offering pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report less than 21 days in advance of the closing of the Offering as the participation of the Insiders in the Offering had not been confirmed at that time. Article content The Units (including the underlying securities) have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ' U.S. Securities Act ') or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Article content About the Company Article content Generation Mining's focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Gen Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. Article content The Feasibility Study (the ' Technical Report ') estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company's profile at or on the Company's website at Article content Qualified Person Article content The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, Technical Services Manager of Generation PGM Inc., a wholly-owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects. Article content Forward-Looking Information Article content This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements)'. Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved, including statements relating to the proposed use of proceeds from the Offering, receipt of all final regulatory approvals in connection with the Offering; the anticipated advancement of the Marathon Project; and future development plans. Article content Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company's plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company's decisions with respect to capital allocation, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company's relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company's annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at Article content Article content . Article content Article content Article content Article content Article content Contacts Article content For further information, please contact: Article content Article content Jamie Levy, President and Chief Executive Officer Article content Article content (416) 567-2440 (M) Article content Article content Article content
The Market Online
06-06-2025
- Business
- The Market Online
Ontario critical minerals project granted priority status
Generation Mining (TSX:GENM) is noting the Province of Ontario's recent appeal to the Federal Government to invest in shovel-ready critical mineral projects key to Canada's supply chain, including the company's flagship Marathon copper-palladium project Marathon is expected to produce over US$6 billion in commodities over its 13-year operating life Generation Mining stock has added 31.48 per cent year-over-year but remains down by 21.11 per cent since 2020 Generation Mining (TSX:GENM) is noting the Province of Ontario's recent appeal to the Federal Government to invest in shovel-ready critical mineral projects key to Canada's supply chain. According to Friday's news release, Ministers Stephen Lecce, Mike Harris and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, published an open letter on June 5th to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario – including Generation's flagship Marathon copper-palladium project – stating that, 'Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain.' The 260-square-kilometre Marathon, located in Northwestern Ontario, features a 2025 feasibility study detailing a net present value (6 per cent discount rate) of C$1.07 billion, a payback of only 1.9 years and polymetallic production over a 13-year mine life, including: 2,161,000 ounces of palladium. 532 million pounds of copper. 488,000 ounces of platinum. 160,000 ounces of gold. 3,051,000 ounces of silver. At prices on June 6, Marathon's production represents more than US$6 billion in commodities in the ground, a far cry from Generation's current market capitalization of C$84.17 million. The news follows a letter of support from a Canadian financial institution for a potential C$200 million credit facility to advance Marathon towards production. Leadership insights 'I'd like to thank the Government of Ontario for their strong and ongoing support for the Marathon project. We have maintained a very good relationship with the Federal Government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies,' Jamie Levy, Generation Mining's president and chief executive officer, said in a statement. 'Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon project promises to be a significant contributor to Canada's critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.' About Generation Mining Generation Mining is advancing towards critical mineral production in Ontario, Canada. Generation Mining stock (TSX:GENM) last traded at C$0.36. The stock has added 31.48 per cent year-over-year but remains down by 21.11 per cent since 2020. Join the discussion: Find out what everybody's saying about this Canadian critical minerals stock on the Generation Mining Ltd. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
National Post
06-06-2025
- Business
- National Post
Province of Ontario identifies Marathon Project as Shovel-Ready Strategic Mineral Project for Investment
Article content TORONTO — Generation Mining Limited (TSX:GENM, OTCQB: GENMF) ('Gen Mining' or the 'Company') thanks the Province of Ontario for urging the federal government to invest in shovel-ready strategic mineral projects, including our Marathon Copper-Palladium Project (the 'Marathon Project'), that are critical to building a secure domestic supply chain. In connection with the ongoing dialogue between the Province of Ontario, the Government of Canada, and other provincial and territorial governments, on June 5, 2025, Ministers Stephen Lecce, Mike Harris, and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, issued an open letter to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario, and remarked: 'Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain including…Generation Mining's Marathon Project.' Article content Jamie Levy, President and CEO, commented: 'I'd like to thank the Government of Ontario for their strong and ongoing support for the Marathon Project. We have maintained a very good relationship with the federal government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies. Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon Project promises to be a significant contributor to Canada's critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.' Article content About the Company Article content Gen Mining's focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Gen Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. Article content The Feasibility Study (the 'Technical Report') estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company's profile at or on the Company's website at Article content Qualified Person Article content The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, Technical Services Manager of Generation PGM Inc., a wholly-owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects. Article content Forward-Looking Information Article content This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements'). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved, including statements relating to projected capital and operating costs (including the AISC); the timing and volume of payable metal production and revenues; and the economic analysis and results (including NPVs and payback periods).expand or alter potential mine pit designs; and the anticipated life of mine; mineral production estimates, payback period, and financial returns from the Marathon Project. Article content Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company's plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company's decisions with respect to capital allocation, and the impact of COVID-19, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company's relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company's annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at Article content Article content . Article content Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at Article content Article content Article content Article content Article content Contacts Article content For further information, please contact: Article content
Yahoo
23-05-2025
- Business
- Yahoo
Generation Mining receives final permit for Marathon Copper-Palladium Project in Canada
Generation Mining has announced that the final construction permit for the Marathon Copper-Palladium Project in Canada has been granted. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) permit is the last of the necessary approvals required to begin construction on what is set to become Canada's next major critical mineral venture. The permit from the Ontario Ministry of Environment, Conservation and Parks paves the way for water management and discharge during the construction phase of the Marathon Project. Generation Mining president and CEO Jamie Levy said: 'With this final permit, Generation believes that the Marathon Project will be a major step forward in securing domestic supplies of copper and palladium – essential elements for clean energy and advanced technologies. 'The completion of construction permitting was one of our key objectives for this year, and securing construction financing is now the final milestone to be able to move the Marathon Project forward. With a shovel-ready plan and strong community support, the Marathon Project has the potential to deliver critical minerals, create skilled jobs and strengthen the Canadian supply chain for a more resilient future.' Located along the Trans-Canada Highway in north-western Ontario, the project is expected to yield 3.6 million ounces (moz) of palladium equivalent (PdEq) over its 13-year lifespan. The Marathon Project will involve the construction, operation and eventual decommissioning of three open pits that will produce copper concentrate that includes copper, palladium and platinum – minerals critical to various industries. Generation Mining vice-president of sustainability Ruben Wallin said: 'The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the project. The company greatly appreciates the indigenous communities, the town of Marathon, and the federal and provincial government agencies that were involved in the process over the past five years. 'The company would also like to recognise the hard work and dedication of our employees and consultants, present and past, in achieving this significant milestone for the project.' In March, Generation Mining secured permits from the Ontario Ministry of Natural Resources (MNR) to begin construction. The MNR had granted all three outstanding approvals for infrastructure construction related to the water management structures at the project under the Lakes and Rivers Improvement Act. "Generation Mining receives final permit for Marathon Copper-Palladium Project in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
