Marathon Gold reports Q3 capex C$76M vs. C$33.5M last year

Third Quarter Project KPIs: The Project exceeded 800,000 hours of site work completed without a lost time incident. At the end of the third quarter, overall completion at the Project stood at 50%. During the quarter, important de-risking of the Project was achieved with the completion of earthworks at the process plant and significant advancement of earthworks at the Tailings Management Facility. Rock placement for the tailings dam footprint is now 96% complete. 634 Marathon employees and contractors are employed or providing services to the Project, 85% of whom are residents of Newfoundland and Labrador. The Project’s cost-to-complete, including contingency, was estimated at $463 million at October 31, 2022 and C$318 million at September 30, 2023. The Project remains on schedule for first gold production in the first quarter of 2025.