Mining Stock Education

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 un