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Generation Mining Ltd. develops the Marathon Copper-Palladium Project in northwestern Ontario through its wholly owned subsidiary, Generation PGM Inc. News about GENMF centers on project development, construction-readiness leadership, National Instrument 43-101 technical review, and expansion of the company's Marathon District land position.
Company updates also cover capital formation through unit offerings and warrants, shareholder meeting results, board and technical appointments, and Indigenous community participation tied to the Marathon Project, including the Community Benefits Agreement with Biigtigong Nishnaabeg.
Generation Mining (GENMF) has announced key changes to its Board of Directors. The company appointed Rebecca Hudson as a new board member and Chair of the Audit Committee, while Stephen Reford has been named independent Lead Director. These appointments fill vacancies left by the passing of Paul Murphy. Additionally, Cashel Meagher will not seek re-election at the June 24, 2025 shareholders meeting due to his new role as CEO of Capstone Copper Corp.
Hudson brings over 25 years of experience in accounting, financial reporting, and corporate governance. She currently serves as CFO for multiple companies including Restart Life Sciences Corp. and Signature Resources Ltd. Her extensive background includes positions at major mining companies like Xstrata and Falconbridge, and she holds both Bachelor's and Master's degrees from the University of Waterloo's School of Accountancy.
Generation Mining (TSX: GENM; OTCQB: GENMF) has announced the filing of a National Instrument 43-101 Technical Report for its Marathon Copper-Palladium Project. The report, titled 'Marathon Copper-Palladium Project - Feasibility Study Report Update', is dated March 28, 2025, with an effective date of November 1, 2024. The results were previously announced in a news release on March 27, 2025.
The Technical Report is now accessible on the company's website and through the SEDAR+ platform.
Generation Mining (GENMF) has announced positive results from its updated Feasibility Study for the Marathon Copper-Palladium Project in Northwestern Ontario. The study reveals robust economics with an after-tax NPV6% of $1.07 billion, IRR of 28%, and a 1.9-year payback period based on 3-year trailing average metal prices.
The project requires initial capital of C$992 million and features life-of-mine all-in sustaining costs of US$2.05/CuEq lb. Over its approximately 13-year mine life, the project expects average annual production of 42 Mlbs copper, 168 koz palladium, 38 koz platinum, 12 koz gold, and 240 koz silver.
The project will create over 800 jobs during construction and 400 direct permanent jobs during operations. It is fully permitted for construction federally and awaiting final approval from the Government of Ontario.
Generation Mining (TSX:GENM, OTCQB: GENMF) has secured all three outstanding approvals under the Lakes and Rivers Improvement Act (LRIA) from the Ontario Ministry of Natural Resources for water management infrastructure construction at its Marathon Copper-Palladium Project in Northwestern Ontario.
The company now awaits just one final permit - the Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) from the Ministry of Environment, Conservation and Parks, which is expected in the coming months. Once received, the Marathon Project will have obtained all key permits required to begin construction.
Generation Mining (GENMF) has secured two important permits for its Marathon Copper-Palladium Project in Northwestern Ontario: a Permit to Take Water (PTTW) from MECP for the construction phase and one of four Lakes and Rivers Improvement Act (LRIA) permit approvals from MNR for water management infrastructure.
The company has also completed the aerial Endangered Species Act (ESA) permit-required Boreal Woodland Caribou survey, covering 5,500km of flight-lines. The survey, conducted in February, included Indigenous community members and confirmed Caribou populations on the Slate Islands, though none were spotted on the mainland.
The project is in the final stages of obtaining remaining permits, including additional LRIA approvals and Environmental Compliance Approval for water discharge. These final permits are expected in the coming months, completing all key approvals required for construction.
Generation Mining (TSX:GENM, OTCQB: GENMF) announced that Chief Operating Officer Drew Anwyll will depart the company effective February 28, 2025. His responsibilities will be transferred to existing members of Gen Mining's technical team. Anwyll, who joined in March 2020, was instrumental in advancing the Marathon Project through feasibility studies and environmental impact assessment.
The project will continue to be advanced by key team members including Paul Murphy, VP Projects, who brings 35 years of construction and engineering experience from roles at G Mining Services, Centerra Gold, and IAMGOLD, and Ruben Wallin, VP Sustainability, who has previous experience with Placer Dome, De Beers Canada, Barrick, Osisko, and Detour Gold.
Generation Mining (TSX:GENM, OTCQB: GENMF) has announced the passing of Paul Murphy, who served as the company's Lead Director and Chairman of the Audit Committee. Murphy, who joined the board in 2019, was also a member of the Compensation Committee and the Nominating and Corporate Governance Committee.
Murphy had an extensive career in the resource sector, serving as a Partner at PricewaterhouseCoopers LLP from 1981 to 2010, where he was National Mining Leader from 2004 to 2010. His experience included roles as Executive Vice President Finance and CFO at Guyana Goldfields (2010-2019), CFO at G2 Goldfields (2020-2021), and CFO at GPM Metals (2012-2018). At the time of his passing, he was also Chairman of Alamos Gold and a Director of Collective Mining.
Generation Mining has completed optimization work on its Marathon Palladium-Copper Project, achieving significant improvements. The optimized mine plan delivers an additional 78,000 ounces of palladium, 34,000 ounces of platinum, and 2 million pounds of copper in the first three years, generating estimated additional payable revenues of $190 million. The initial capital estimate has been reduced by $89 million to $961 million, despite industry-wide inflationary pressures. The project now shows improved economics with a 26% after-tax IRR and 2.1-year after-tax payback period.