TORONTO, March 5 /CNW/ - Marathon PGM Corporation (MAR-TSX) ("MAR" or "the Company") reports today that it has engaged KPMG Corporate Finance Incorporated ("KPMG") to act as financial advisor regarding financing options to advance development of the Company's Marathon PGM-Cu Project ("Marathon Project").
- the optimized definitive feasibility study ("DFS") for the Marathon
Project showed robust project economics (please click here
(http://www.marathonpgm.com/news/2009/110110.pdf) to view the press
release dated January 11, 2010).
- KPMG was chosen as a financial advisor because of their extensive
presence in Asia
- in recent months, other large scale mining projects have successfully
attained project financing
- the Marathon Project is 100% owned, situated in a mining friendly
jurisdiction and existing infrastructure will result in substantial
capital cost savings during development
- the Marathon Project is projected to produce 234,000 oz of PGM and
Au, 37 million lbs of Cu and 182,000 oz of Ag per year
- KPMG's engagement does not include any public offering of equity or
any debt facilities
"We are looking forward to working with KPMG for the development of the Marathon Project. KPMG was chosen because of a strong presence in the Asian markets. Combining their ability to finance projects with the attractive investment opportunity of the Marathon Project was a natural fit," said Phillip Walford, President and CEO. "Prior to the economic downturn, we were in advanced discussions regarding options such as finding a strategic JV partner, debt, equity, off-take, royalties and so on. With the strengthening metals prices and global market, we are now seeing a return of strong interest in the Marathon Project."
Phillip Walford, P.Geo., President and CEO is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon.
About Marathon PGM Corporation:
Marathon is exploring resource development potential in the immediate vicinity of the Marathon deposit to expand mine life of the planned large tonnage, open pit mining operation. The Marathon deposit is one of the largest PGM-Cu reserves in Canada and is expected to grow with development of additional nearby resources. Marathon's optimized P+P reserve of 91.45 million tonnes grading 0.832 g/t Pd, 0.237 g/t Pt, 0.085 g/t Au, 0.247% Cu and 1.44 g/t Ag, contains 2.44 million ounces of Pd, 696,000 ounces of Pt, 251,000 ounces of Au, 497 million lbs of Cu and 4.23 million ounces of Ag. Marathon also has development and exploration stage properties in southeastern Manitoba and western Newfoundland, respectively. Marathon's management plans to build on its experience through the advancement of its properties and by examining other strategic opportunities.
About KPMG Corporate Finance Inc.
KPMG's Corporate Finance practices provide a range of objective, investment banking advisory services internationally and comprise more than 2,300 investment banking advisory professionals operating in 62 countries. KPMG's Corporate Finance provides strategic advisory and deal management services covering: acquisitions and disposals; mergers and takeovers; valuations and fairness opinions; structured and leveraged financing; private equity strategies; initial and secondary public offerings; joint ventures and transaction alliances.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Management's Discussion and Analysis for the year ended December 31, 2008.
Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.
SOURCE MARATHON PGM CORPORATION
For further information: For further information: David Leng, P.Geo:, Tel: (416) 849-3432, Fax: (416) 861-1925, email@example.com; Julie Bannerjea, Head of Media Relations, KPMG Canada, (416) 777-3243, firstname.lastname@example.org