Marathon Gold reports Q2 capex C$33.5M vs. C$9.2M last year

The company said, “Capital expenditures were $24.22 million and $71.75 million higher in the three and six months ended June 30, 2023, respectively, than the comparable period in the prior year primarily as a result of an increase in project construction capital spending and the repurchase of 0.5% of the 2.0% of the NSR on the Project from Franco-Nevada. Major construction mobilization at the Project commenced in January 2023, and included the commencement of major civils work related to the process plant and principal facilities, mining of the Leprechaun pit for waste rock in support of construction of pads and haul roads, continued overburden removal and clearing and grubbing, completion of phase one of the permanent camp modules, continued road upgrades, and continued advancement of the construction of the Project’s 66 kV powerline connection to the Star Lake Generating Station.”