News Summary
On December 22, 2025, Minnova Corp. announced it has engaged Amps Powerline Inc. (AMPS) to manage the reconnection of the PL Gold Mine to the Manitoba Hydro grid. This engagement includes overseeing site power distribution and refurbishing the plant’s electrical systems. This move is a tactical step toward the planned 2026 mine restart. The scope of work is intended to support the upcoming Preliminary Economic Assessment (PEA) and updated Feasibility Study (FS), which are targeted for completion in Q1 and Q3 of 2026, respectively.
Material Impact
The news is a necessary operational step but lacks immediate material weight compared to the recent C$4.82 million financing.
– Execution Progress: It demonstrates that management is moving from the “planning” phase into “site readiness.” Reconnecting to grid power is significantly more cost-effective than diesel generation, which is critical for the project’s eventual unit costs.
– In-line with Expectations: Following the closure of the December 3, 2025, financing, the company is expected to deploy capital on infrastructure. This news fulfills that expectation.
– Project Validation: Using a professional electrical contractor like AMPS reduces technical risk regarding the 1,000 tpd mill’s restart. However, it does not address the larger hurdle of the C$3.8 million reclamation provision or the total CAPEX required for a full restart.
Catalysts
– Phase 1 & 2 Drill Results: Results from the 1,500m infill program and the start of the 15,000m Phase 2 program are the primary value drivers.
– PEA Release (Target Q1 2026): This will provide the first modern economic look at the open-pit potential at US$2,500 gold.
– Resource Update: An updated Mineral Resource Estimate (MRE) is a prerequisite for the PEA and will determine if the 2017 resource (approx. 584k oz total) has grown.
Materiality Conclusion
This news is Routine – Positive. While it signals physical progress at the mine site, it is a standard pre-development activity. The real “Game Changer” would be the delivery of a PEA showing robust economics or a significant increase in high-grade gold ounces.
