Welcome to our dedicated page for GOLD MTN MNG news (Ticker: GMTNF), a resource for investors and traders seeking the latest updates and insights on GOLD MTN MNG stock.
Gold Mountain Mining Corp. (GMTNF) is a British Columbia-based gold and silver production, exploration, and development company focused on the Elk Gold Project, located 57 KM from Merritt in South Central British Columbia. The company has recently faced challenges with contractors and debt repayment, while also undergoing changes in its executive team.
Despite financial difficulties and legal issues, Gold Mountain remains committed to its mining operations and is actively seeking solutions to overcome its current challenges. The company's new Chief Financial Officer, Mr. Calvin Cheung, brings over 20 years of financial experience, aiming to steer the company towards stability and growth.
Gold Mountain Mining Corp. (TSX:GMTN, OTCQB:GMTNF) reported its Q2 2025 financial and operating results. Key highlights include:
- Gold sales of 114oz from 3,877 tonnes delivered, grading at 1.25 g/t
- Revenue of $105,012 with an average realized gold price of $897 per ounce
- Mine operating loss of $1,167,618
- Net loss of $2,171,099 or $0.00 per share
- Adjusted EBITDA of ($1,337,101)
- Total Cash Costs per ounce sold of $10,041
- Strip ratio of 22.8
The company is implementing improvements to increase production outputs and has secured $6.5 million in operational funding through a convertible debenture. Gold Mountain is also working with Indigenous Communities to address concerns about future mining plans.
Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF) has successfully closed a $6.5 million financing through the issuance of a convertible secured debenture to a choomEEnsh a Nlaka'pamux LP. The debenture is convertible into 81,250,000 common shares at $0.08 per share, matures in 10 years, and carries a 10% annual interest rate. This transaction involves insider participation, with the investor being an affiliate of Nhwelmen Construction GP , an existing insider owning 27.30% of the company's shares. The financing required and obtained shareholder approval due to its size and insider involvement. Assuming full conversion, Nhwelmen and its affiliates would own 34.05% of the company's common shares.
Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF) announced a $6.5 million financing through a convertible secured debenture issued to choomEEnsh a Nlaka'pamux LP. The debenture is convertible into 81,250,000 common shares at $0.08 per share, matures in 10 years, and carries a 10% annual interest rate. The investor is affiliated with Nhwelmen Construction, an existing insider owning 27.30% of the company. This transaction requires TSX approval and written evidence from over 50% of disinterested shareholders. The financing aims to improve the company's financial position, as determined by a special committee of independent directors.
Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) has announced the closing of debt settlement transactions involving Nhwelmen Construction Partnership. The company settled $6.5 million in secured debt by issuing 50,000,000 common shares worth $1.5 million and a $5 million convertible debenture. The debenture can be converted into 62,500,000 shares at $0.08 per share, matures in four years, and accrues 12% interest annually. Additionally, Gold Mountain converted $1,700,660 of unsecured debt into 56,688,667 common shares for other vendors. Upon full conversion, 169,188,667 shares will be issued, equating to 24.63% of the total outstanding shares. Nhwelmen, now holding 35.18% of shares post-conversion, is classified as an insider. The transactions are aimed at improving Gold Mountain's financial position and have received approval from the Toronto Stock Exchange.
Gold Mountain Mining has reached an agreement to settle its $6.5 million debt with Nhwelmen Construction. Nhwelmen will receive 50 million common shares for $1.5 million of this debt and a $5 million convertible debenture, which can be converted into 62.5 million shares at $0.08 each. The debenture matures in four years with an annual interest rate of 12%. Additionally, Gold Mountain plans to approach unsecured vendors to convert up to $1.7 million in debt into shares. These transactions could result in dilution, increasing Nhwelmen's ownership to 32.61% if fully converted. These steps are part of the company's efforts to improve its financial stability.
Gold Mountain Mining Corp. appoints Nadine Hoehne, a graduate of the University of British Columbia, to its Board of Directors. Hoehne brings over 20 years of experience in major projects across various industries. She specializes in building relationships between Indigenous communities, government entities, and industries while respecting Indigenous rights and finding mutually beneficial solutions. Hoehne will focus on strategic planning, recovery, and expansion at Gold Mountain. In other news, Keith Minty resigns from the Board of Directors. Gold Mountain is a BC-based gold and silver production company with a focus on developing the Elk Gold Mine.
Gold Mountain Mining Corp. appoints Hugh Behroozy to its Board of Directors, bringing entrepreneurial experience in funding and building businesses across various industries. Mr. Behroozy's expertise in systems integration, 3D modeling, and artificial intelligence will aid in understanding the Elk project's ore-body and predictive modeling development. This strategic move enhances the company's governance and operational capabilities.
FAQ
What is the current stock price of GOLD MTN MNG (GMTNF)?
What is the market cap of GOLD MTN MNG (GMTNF)?
Where is Gold Mountain Mining Corp. based?
What is the focus of Gold Mountain's operations?
Who is the new Chief Financial Officer of Gold Mountain?
What recent challenges has Gold Mountain faced?
How is Gold Mountain addressing its financial difficulties?
