Gold Mountain Reports its Q2 2025 Financial and Operating Results
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) ha riportato i risultati finanziari e operativi per il secondo trimestre del 2025. I punti salienti includono:
- Vendite di oro pari a 114 once su 3.877 tonnellate consegnate, con un grado di 1,25 g/t
- Ricavi di $105.012 con un prezzo medio realizzato dell'oro di $897 per oncia
- Perdita operativa della miniera di $1.167.618
- Perdita netta di $2.171.099, ovvero $0,00 per azione
- EBITDA rettificato di ($1.337.101)
- Costo totale di cassa per oncia venduta di $10.041
- Rapporto di stripping di 22,8
L'azienda sta attuando miglioramenti per aumentare la produzione e ha ottenuto $6,5 milioni in finanziamenti operativi tramite un'obbligazione convertibile. Gold Mountain sta anche collaborando con le Comunità Indigene per affrontare le preoccupazioni relative ai futuri piani minerari.
Gold Mountain Mining Corp. (TSX:GMTN, OTCQB:GMTNF) reportó sus resultados financieros y operativos del segundo trimestre de 2025. Los aspectos más destacados incluyen:
- Ventas de oro de 114 onzas a partir de 3,877 toneladas entregadas, con una ley de 1.25 g/t
- Ingresos de $105,012 con un precio promedio realizado del oro de $897 por onza
- Pérdida operativa de la mina de $1,167,618
- Pérdida neta de $2,171,099 o $0.00 por acción
- EBITDA ajustado de ($1,337,101)
- Costo total de efectivo por onza vendida de $10,041
- Relación de stripping de 22.8
La empresa está implementando mejoras para aumentar los niveles de producción y ha asegurado $6.5 millones en financiamiento operativo a través de un debenture convertible. Gold Mountain también está trabajando con las Comunidades Indígenas para abordar las preocupaciones sobre los planes mineros futuros.
골드 마운틴 마이닝 주식회사 (TSX:GMTN, OTCQB:GMTNF)는 2025년 2분기 재무 및 운영 결과를 보고하였습니다. 주요 사항은 다음과 같습니다:
- 3,877톤에서 114온스의 금 판매, 품질 1.25 g/t
- 수익 $105,012, 평균 금 가격 $897/온스
- 광업 운영 손실 $1,167,618
- 순손실 $2,171,099, 주당 $0.00
- 조정된 EBITDA ($1,337,101)
- 판매된 온스당 총 현금 비용 $10,041
- 스트립 비율 22.8
회사는 생산량을 늘리기 위한 개선 작업을 시행하고 있으며 전환사채를 통해 운영 자금으로 $6.5 백만을 확보하였습니다. 골드 마운틴은 또한 향후 채굴 계획에 대한 우려를 해결하기 위해 원주율 공동체와 협력하고 있습니다.
Gold Mountain Mining Corp. (TSX:GMTN, OTCQB:GMTNF) a rapporté ses résultats financiers et opérationnels pour le deuxième trimestre 2025. Les principaux points forts incluent :
- Ventes d'or de 114 oz à partir de 3 877 tonnes livrées, avec une teneur de 1,25 g/t
- Revenus de 105 012 $, avec un prix de l'or réalisé moyen de 897 $ par once
- Pertes d'exploitation de la mine de 1 167 618 $
- Pertes nettes de 2 171 099 $, soit de 0,00 $ par action
- EBITDA ajusté de (1 337 101 $)
- Coût total de cash par once vendue de 10 041 $
- Taux de stripping de 22,8
L'entreprise met en œuvre des améliorations pour augmenter les niveaux de production et a sécurisé 6,5 millions de dollars en financement opérationnel par le biais d'une obligation convertible. Gold Mountain travaille également avec les Communautés Autochtones pour aborder les préoccupations concernant les futurs plans miniers.
Gold Mountain Mining Corp. (TSX:GMTN, OTCQB:GMTNF) hat seine finanziellen und operativen Ergebnisse für das zweite Quartal 2025 bekannt gegeben. Die wichtigsten Punkte umfassen:
- Verkäufe von 114 Unzen Gold aus 3.877 Tonnen, mit einem Gehalt von 1,25 g/t
- Umsatz von $105.012 bei einem durchschnittlichen realisierten Goldpreis von $897 pro Unze
- Betriebsverlust der Mine von $1.167.618
- Nettoverlust von $2.171.099 oder $0,00 pro Aktie
- Bereinigtes EBITDA von ($1.337.101)
- Gesamte Bargeldkosten pro verkaufter Unze von $10.041
- Stripping-Verhältnis von 22,8
Das Unternehmen setzt Verbesserungen um, um die Produktionszahlen zu steigern, und hat durch eine wandelbare Anleihe 6,5 Millionen Dollar an Betriebsmitteln gesichert. Gold Mountain arbeitet auch mit indigenen Gemeinschaften zusammen, um Bedenken hinsichtlich zukünftiger Bergbaupläne auszuräumen.
- Secured $6.5 million in operational funding through a convertible debenture
- Implemented a more targeted mining methodology, reducing strip ratio from 71.8 to 22.8
- Renegotiated accumulated debts with mining contractor, converting $1,250,000 into common shares
- Resumed expanded operations as planned in Q3 2025
- Gold sales decreased to 114oz from 965oz in Q2 2024
- Revenue declined to $105,012 from $2,202,855 in Q2 2024
- Net loss increased to $2,171,099 from $977,547 in Q2 2024
- Mine operating loss of $1,167,618 compared to $297,566 in Q2 2024
- Total Cash Costs per ounce sold increased to $10,041 from $2,385 in Q2 2024
- Average ore grade delivered decreased to 1.25 g/t from 4.01 g/t in Q2 2024
VANCOUVER, BC / ACCESSWIRE / September 16, 2024 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) is pleased to report its financial and operating results for the three months and six months ended July 31, 2024 ("Q2 2025"). The Company's Financial Statements, Management's Discussion and Analysis ("MD&A"), are available for download on SEDAR and the Company's website. All amounts are expressed in Canadian dollars ("$") unless otherwise noted.
Highlights for the three months ended July 31, 2024
Gold sales of 114oz from 3,877 tonnes delivered grading at an average of 1.25 g/t
The Company recorded revenue of
$105,012 at an average realized gold price1 of$897 (US$658) per ounce of gold soldMine operating loss of
$1,167,618 Net loss of
$2,171,099 or$0.00 per share (basic) during Q2 2025Adjusted EBITDA1 of (
$1,337,101) Total Cash Costs1 per ounce sold of
$10,041 The strip ratio of 22.8 in Q2 2025
Summary of Operational Results
|
|
|
|
| Q2 2025 |
|
|
| Q2 2024 |
|
| 6MO 2025 |
|
| 6MO 2024 |
| |||
Ore mined |
| (t) |
|
|
| 3,877 |
|
|
| 7,675 |
|
|
| 11,307 |
|
|
| 16,179 |
|
Waste mined |
| (t) |
|
|
| 88,385 |
|
|
| 551,033 |
|
|
| 234,142 |
|
|
| 957,735 |
|
Total mined |
| (t) |
|
|
| 92,262 |
|
|
| 558,708 |
|
|
| 245,449 |
|
|
| 973,914 |
|
Ore delivered |
| (t) |
|
|
| 3,449 |
|
|
| 8,597 |
|
|
| 11,403 |
|
|
| 16,391 |
|
Average ore grade delivered - gold |
| (g/t) |
|
|
| 1.25 |
|
|
| 4.01 |
|
|
| 1.79 |
|
|
| 6.07 |
|
Strip ratio |
| waste/ore |
|
|
| 22.8 |
|
|
| 71.8 |
|
|
| 20.7 |
|
|
| 59.2 |
|
Gold ounces sold |
| (oz) |
|
|
| 114 |
|
|
| 965 |
|
|
| 523 |
|
|
| 2,763 |
|
Operational Update
During Q2 2025, the Company mined a total of 3,877 tonnes of ore and 88,385 tonnes of waste, all of which came from the Siwash North Pit. The average ore grade delivered was 1.25 g/t gold, resulting in total gold ounces sold of 114 and a strip ratio of 22.8. During Q2 2024, the Company mined a total of 7,675 tonnes of ore and 551,033 tonnes of waste from the Siwash North Pit. The average ore grade delivered was 4.01 g/t gold, resulting in total gold ounces sold of 965 and a strip ratio of 71.8. The lower strip ratio in Q2 2025 was result of implementing a more targeted methodology, which led to reduced dilution and minimized mine loss.
The Company is looking to strategically increase its production outputs as the improvements to mine methods, grade control, ore processing and sampling are realized. We recognize that a large increase in production prior to the improvements may be at a significant loss in potential earnings.
Summary of Financial Results
|
|
| Q2 2025 |
|
|
| Q2 2024 |
|
| 6MO 2025 |
|
| 6MO 2024 |
| ||
Revenue |
| $ | 105,012 |
|
| $ | 2,202,855 |
|
| $ | 993,560 |
|
| $ | 6,371,231 |
|
Cost of sales |
|
| (1,272,630 | ) |
|
| (2,500,421 | ) |
|
| (4,578,657 | ) |
|
| (5,076,421 | ) |
Mine operating income (loss) |
|
| (1,167,618 | ) |
|
| (297,566 | ) |
|
| (3,585,097 | ) |
|
| 1,294,810 |
|
Net loss and comprehensive loss |
|
| (2,171,099 | ) |
|
| (977,547 | ) |
|
| (9,998,543 | ) |
|
| (16,938 | ) |
Net loss per share - basic and diluted |
|
| (0.00 | ) |
|
| (0.01 | ) |
|
| (0.02 | ) |
|
| (0.00 | ) |
Adjusted EBITDA1 |
| $ | (1,337,101 | ) |
| $ | (709,513 | ) |
| $ | (4,900,193 | ) |
| $ | 596,203 |
|
Average realized gold price1 ($/oz) |
| $ | 897 |
|
| $ | 2,246 |
|
| $ | 1,867 |
|
| $ | 2,280 |
|
Total Cash Costs1 per ounce sold ($/oz) |
| $ | 10,041 |
|
| $ | 2,385 |
|
| $ | 8,196 |
|
| $ | 1,682 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For Q2 2025, the Company recorded a net loss of
Corporate Update
The Company's mining contractor and partner, Nhwelmen Construction Limited Partnership ("Nhwelmen"), renegotiated its accumulated debts by converting
During the six months ended July 31, 2024, Nhwelmen also agreed to convert the
The Company worked with its primary contractor and partner, Nhwelmen to revisit the mine plan and mine operational plan, to expand its operations, and to provide the operational security and capital the Company requires to move forward.
Subsequent to the Q2 closing at July 31, 2024, the Company did secure operational funding in the amount of
Subsequent to the Q2 closing at July 31, 2024, the Company has resumed expanded operations as planned. Primary focus for Q3 2025 includes refining the block model, optimizing pit design, and enhancing mine operational planning to increase production in September.
The Company is engaged with surrounding Indigenous Communities to proactively address any community concerns respecting the future mining plans. The Company is aware of and acknowledges each respective Indigenous Nation's decision-making process that will continue independently from the federal and provincial regulatory regimes.
Qualified Person
The foregoing technical information was approved by Ron Woo, P.Eng., a Qualified Person, as defined under National Instrument 43-101 and the Chief Executive Officer for the Company.
About Gold Mountain
Gold Mountain is a British Columbia based gold and silver production, exploration and development company focused on the development of the Elk Gold Mine, a producing mine located 57 kilometers from Merritt in South Central British Columbia. Additional information is available at www.sedar.com or on the Company's new website at www.gold-mountain.ca.
For more information, please contact:
Gold Mountain Mining Corp.
Calvin Cheung, Chief Financial Officer
Email: IR@gold-mountain.ca
Website: www.gold-mountain.ca
Twitter: www.twitter.com/goldmtnmine
Forward Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation regarding final approval of the Convertible Debenture, the ability of the Company to continue as a going concern, the impact of the raising of funds pursuant to the Convertible Debenture on the Company and the results thereof, including that it will allow the Company to address its significant working capital deficiency and provide operating capital to the Company so that it can go forward as a viable going concern, receipt of the final TSX approval and the ability for the Company to restart the mine, thereby significantly improving the Company's financial situation. Forward-looking statements include statements that are based on assumptions as of the date of this news release and are not purely historical including any information relating to statements regarding beliefs, plans, expectations or intentions regarding the future and often, but not always, use words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of gold; and the results of current exploration. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Gold Mountain disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
The Company has included certain non-IFRS measures in this document, as discussed below.
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") is a non-IFRS financial performance measure. For a full definition and reconciliation of this non-IFRS financial performance measure, refer to the Company's MD&A for the three and six months ended July 31, 2024, a copy of which is available on the Company's profile at www.sedar.com.
Total Cash Cost per ounce sold is a common financial performance measure in the gold mining industry but has no standard meaning under IFRS. The Company reports total cash costs on a sales basis. For a full definition and reconciliation of this non-IFRS financial performance measure, refer to the Company's MD&A for the three and six months ended July 31, 2024, a copy of which is available on the Company's profile at www.sedar.com.
Average realized price per ounce of gold sold is used by management to better understand the price realized in each reporting period for gold sales. This metric is intended to provide additional information only and does not have any standardized definition under IFRS. For a full definition and reconciliation of this non-IFRS financial performance measure, refer to the Company's MD&A for the three and six months ended July 31, 2024, a copy of which is available on the Company's profile at www.sedar.com.
SOURCE: Gold Mountain Mining Corp
View the original press release on accesswire.com
FAQ
What were Gold Mountain's Q2 2025 gold sales for GMTNF?
How much revenue did Gold Mountain (GMTNF) generate in Q2 2025?
What was Gold Mountain's (GMTNF) net loss for Q2 2025?
How did Gold Mountain's (GMTNF) Q2 2025 performance compare to Q2 2024?
What operational funding did Gold Mountain (GMTNF) secure after Q2 2025?
