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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.
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Gold Mountain Mining Corp. appoints Mr. Calvin Cheung as the new CFO, bringing over 20 years of financial expertise to the company.
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Gold Mountain Mining Corp. announces agreements with secured creditors for debt settlements, a non-brokered private placement, and appointment of new director. The Debt Settlements involve common share issuances and cash payments to settle debts. The Private Placement aims to raise up to $750,000 through the issuance of common shares. The Company plans to use the proceeds for operational purposes and working capital. The appointment of Ronald Woo as a director is effective immediately.
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Gold Mountain Mining Corp. receives a notice of default from Hedge Minerals Corp. and is working on negotiating solutions to restructure the terms of the Promissory Note. The company is also facing challenges with Nhwelmen Construction GSA default.
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Gold Mountain Mining Corp. announces discussions with creditors to resolve demands for payment at Elk Gold Mine project. Also, accepted resignation of Mr. Stephen Wilkinson from the Board of Directors.
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Gold Mountain Mining Corp. (GMTN) faces financial challenges as its subsidiaries holding the Elk Gold mining project concessions receive 'demand for payment' letters from two mine site contractors, totaling approximately $5.6 million. The company is reviewing legal options and seeking solutions to work with the groups. Additionally, the Chief Financial Officer has resigned, and a replacement is being sought.
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FAQ
What is the current stock price of Gold Mtn Mng (GMTNF)?
The current stock price of Gold Mtn Mng (GMTNF) is $0.0164 as of February 21, 2025.
What is the market cap of Gold Mtn Mng (GMTNF)?
The market cap of Gold Mtn Mng (GMTNF) is approximately 13.7M.
Where is Gold Mountain Mining Corp. based?
Gold Mountain is a British Columbia-based company with operations in South Central British Columbia.
What is the focus of Gold Mountain's operations?
The company is focused on gold and silver production, exploration, and development, primarily centered around the Elk Gold Project.
Who is the new Chief Financial Officer of Gold Mountain?
Mr. Calvin Cheung has been appointed as the new CFO, bringing extensive financial and accounting experience to the company.
What recent challenges has Gold Mountain faced?
Gold Mountain has dealt with issues related to contractors, debt repayment, and legal notifications, impacting its operations and financial condition.
How is Gold Mountain addressing its financial difficulties?
The company is actively working on debt settlements with creditors, including the issuance of shares and convertible debentures, aiming to improve its financial position.
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