Generation Mining Limited

Description

Generation Mining Limited is a TSX-listed developer of the Marathon Copper-Palladium Project in Ontario, Canada, its 100%-owned flagship asset comprising the Marathon, Geordie, and Sally deposits. A 2025 feasibility study update outlined proven and probable reserves of 117.7 million tonnes at 0.619 g/t palladium and 0.205% copper for 2.34 Moz contained palladium, supporting a 13-year mine life, average annual production of roughly 168,000 oz palladium and 42 million lb copper, initial capex of C$992 million, AISC of US$2.05 per copper-equivalent pound, and an after-tax NPV5% of C$1.07 billion with a 28% IRR.

The company has assembled a comprehensive financing package of approximately C$1.3 billion, including senior debt from EDC, ING Capital, and Société Générale, a C$240 million streaming agreement with Wheaton Precious Metals, subordinated debt from the Canada Infrastructure Bank, and equipment leasing. As of September 2026, the project is described by the company as "financing-ready and construction-ready, subject to closing conditions and a final investment decision," with early works construction potentially starting in Q4 2026 pending shareholder approval of convertible-note financing and a Glencore offtake agreement specifying a September 2028 production start.

List of projects
1. Marathon Copper-Palladium Project (Marathon, Geordie, and Sally deposits) - 100% interest, Ontario, Canada; metals: Palladium, Copper, Platinum, Gold.

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List of projects

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