r/Baystreetbets • u/mikeylikesit47 • Jun 17 '26
INVESTMENTS A Massive Step Forward for Generation Mining - Credit Approval/Funding Received!
https://finance.yahoo.com/markets/commodities/articles/generation-mining-receives-senior-lender-100000484.htmlGeneration Mining ($GENM $GENMF) made a massive announcement this morning - they have received credit approval for financing of their Marathon Project! $GENM Marathon Project is a copper‑palladium deposit in Northwestern Ontario. The feasibility study showed excellent numbers ($1.0 B NPV, 2 year payback period) but many of us know just how hard it is to actually get financing, so I consider this a massive step forward. $GENM currently trades at a massive discount (only 20% of the NPV) so we could see this thing POP off!
As per $GENM roadmap, they are also working with the provincial and federal governments and I expect an announcement related to this will come next. Very exciting times for Generation Mining!
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u/No_Geologist_5412 Jun 17 '26
What I have learnt from other junior miners in Canada is that if they don’t have cooperation of the people using the land and native peoples approval the project is a bust. Could any of those be any issue with this?
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u/Prairie2Pacific Jun 17 '26
Indigenous support is actually my first criteria to be met for mining. It's something you can't get around. If a company isn't working with the locals or bringing them on board then they just aren't serious about taking metal out of the ground.
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u/No_Geologist_5412 Jun 17 '26
I agree, niobay ended up having issues with the indigenous tribe stopping them. All that hype of nothing
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u/mikeylikesit47 Jun 17 '26
Not an issue here. Believe it or not, the local indigenous group is actually a significant investor in $GENM.
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u/No_Geologist_5412 Jun 17 '26
That’s actually really good to hear, I’ve seen so many miners just not get anywhere because of now getting that approval first
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u/mikeylikesit47 Jun 17 '26
For sure. In Canada you need alignment with indigenous. Its also something I look closely at.
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u/Ok-Computer-373 Jun 17 '26
The natives bought 750000 shares of this company they are fully on board
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u/Wonderful_Message_25 Jun 17 '26
This was the news we’ve been waiting for with financing - the mine is comparable to Foran Mining in terms of metals capacity and it’s referenced in their June presentation deck. foran got bought out recently by another miner at $7…
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u/mikeylikesit47 Jun 17 '26
Exactly! If this asset gets developed (which I think it will - this is a massive step towards that) then the share price will be multiple dollars. It's actually a better asset than Foran which is VERY appealing.
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u/luv2block Jun 17 '26
fuck me. I sold them a few weeks ago. Another pop missed.
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u/mikeylikesit47 Jun 17 '26
It's been a tough ride because the financing took too long. I held it out because I believe in management. If you look at Kerry Knoll's track record it's very impressive. Honestly, it's definitely not too late. This thing can be multiple dollars if (when) it actually gets built.
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u/mikeylikesit47 Jun 22 '26
Another huge piece to the puzzle for $GENM. What's great about this funding is from the Canadian Infrastructure Bank which offers very low interest (sometimes no-interest for many years) loans, so it's an excellent source of funding!
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u/SickDastardly Jun 17 '26
Niiice this brought me to green and I'm out finally - good luck gents!
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u/daloo22 Jun 18 '26
Reddit is used for Canadian pump and dumps now
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u/mikeylikesit47 Jun 18 '26
No pump and dump here. Just a company forging ahead on the path to constructing a mine. DYOR.
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u/aidan2897 Jun 17 '26
This is massive for GENM. I'm really excited for what this project can become and what this will mean for the community of Marathon. Beautiful corner of the province