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Minnova Corporate Update on PL Gold Mine Restart Project and Year End Audit
Toronto, Ontario--(Newsfile Corp. - August 8, 2024) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF)...
About this update from Minnova Corp.
[{"type":"text","content":"Minnova Corporate Update on PL Gold Mine Restart Project and Year End AuditToronto, Ontario--(Newsfile Corp. - August 8, 2024) - Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF) \"Minnova\" or the \"Company\"), is pleased to provide the following corporate update related the PL Gold Mine.We are pleased to provide and update on the 100% owned PL Gold Mine. Since completing a positive Feasibility Study in 2017 the price of gold has increased significantly from the then base case modeled gold price assumption of US$1,250 per ounce to current gold price of over US$2,400 per ounce. As such we are eager to restart work programs to further derisk the project and advance its restart.Planned PL Gold Mine programs, include;Diamond drilling - infill and expansion drilling with a focus on PL North zone Update mineral resource estimate - Current mineral resource estimate only includes drill results to June 2017 Small open pit to extract a bulk sample - update metallurgyUpdated mine plan to include open mining methods from start of mining operations Updated Feasibility Study - the existing Feasibility Study was completed in 2017Finally, as part of the feasibility study the Company will also evaluate the onsite production of a bullion gold product (99.999% gold) utilizing currently available refining technologies. The initiative to consider development of a refinery and production of is driven by growing investor demand for gold-backed investments. Refined gold production coupled with block chain technologies offers investors a physical gold backed digital gold investment option as an alternative to current gold ETF investment options and potentially even to royalty and streaming companies.We would also like to confirm that the audit process in on going and the Company anticipates that it will in a position to prepare and file the Annual Financial Statements and MD&A on or prior to August 31, 2023.About Minnova Corp.Minnova Corp. is an evolving technology, energy and metals company building a worldwide pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on innovative carbon use and carbon reduction technologies. Separately the company is participating in large scale green hydrogen production via electrolysis at the Flin Flon Clean Energy Hub initiative.Our mining strategy is focused on the restart of its PL G...