Matador Mining Doubles Size of Exploration Program with A$25M Now in Treasury (Ian Murray Interview)
Matador Mining just doubled the size of its exploration program. The company has A$25M now in the treasury on the heels of an impressive A$16M raise at a 28% premium with no warrant. The company is now funded well into 2022. Diamond drilling meterage is raised to 45,000m from 20,000m. Power auger drilling is increased to five from three. And the heli-mag program has gone to 80km from 40km. Executive chairman Ian Murray provides an update on Matador’s progress, exploration plans and what news flow to expect over the next 30 days.
Matador Mining (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) is a gold exploration company with tenure covering 120 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada. The Company released a Scoping Study which outlined an initial potential seven-year mine life, with a forecast strong IRR (51% post Tax), rapid payback (1.75 year) and LOM AISC of US$776/oz Au (ASX announcement 6 May 2020).1 The Company is currently undertaking the largest exploration program carried out at Cape Ray, with 45,000 metres of drilling, targeting brownfield expansion and greenfields exploration.
0:00 Introduction
0:58 A$16M flow-through raise at 28% premium
2:51 Long-term shareholders brought in financing
4:25 Treasury now A$25M: fully-funded well into 2022
5:29 Exploration program now more than doubled in size
8:24 PFS & improved metallurgical results
10:40 Increased land tenements on Cape Ray Shear
13:10 Newfoundland geologist Kerry Sparkes joins Matador
14:44 Next 30 days of news flow
Most Undervalued Gold Stock in Canada’s Hottest Jurisdiction with Matador Mining Chair Ian Murray
