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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.
Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) provided an operational update highlighting a successful January 2023 at the Elk Gold Project. The company generated approximately CAD$2.3M in revenue and achieved an adjusted EBITDA of CAD$725k. A total of 1,164 AuOz and 1,183 AgOz were delivered, with cash costs at CAD$1,187/oz Au and all-in sustaining costs of CAD$1,485/oz Au. This marks the fourth consecutive month of improved grade, with January being the best month since operations began in February 2022. Additionally, the company appointed new management, including a CFO with extensive mining experience.
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