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. reported positive assay results from its Phase 2 drill program at the Elk Gold Project, further confirming high-grade mineralization in the Siwash North zone. Key highlights include:
- 1.30m scoring 10.59 g/t Au and 0.30m at 45.60 g/t Au.
- Increased total drilling meterage by 30% to 13,000m due to strong intercepts.
- Successful exploration of three additional mineralized satellite zones.
These results bolster the company’s resource expansion strategy and enhance prospects for increased future resource estimates.
Gold Mountain Mining Corp. has mined its first significant mineralized material at the Elk Gold project in British Columbia. The company has exposed its 1100 vein system, historically yielding an average grade of 16.60 g/t. With plans to deliver material to New Gold Inc., Gold Mountain anticipates an after-tax profit of $10 million in Year 1 of its mining plan. The company aims to ramp up operations and engage with Indigenous Communities while ensuring revenue generation in Q4 2021.
Gold Mountain Mining Corp. has announced the successful mining of its first significant mineralized material at the Elk Gold project in British Columbia. Located along the 1100 vein system previously mined at an average grade of 16.60 g/t, this milestone indicates a transition to commercial production. The company anticipates an annual after-tax profit of $10 million for the first year, backed by a streamlined capital expenditure of $9 million. Mining operations are set to ramp up, with deliveries scheduled to its ore purchase partner, New Gold Inc., to generate revenue by Q4 2021.
Gold Mountain Mining Corp. has received conditional approval from the Toronto Stock Exchange (TSX) to list its common shares, planning to voluntarily delist from the TSX Venture Exchange (TSXV). The transition aims to enhance liquidity and attract institutional investors. The Company also filed a preliminary base shelf prospectus allowing offerings up to C$50 million over 25 months, with a current cash position of $14.9 million. This positive momentum follows a shift from being an exploration company to a near-term gold producer, with expectations for commercial production shortly.
Gold Mountain Mining Corp has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX) following a productive 10 months on the TSXV. The company plans to voluntarily delist from the TSXV, enhancing liquidity and accessibility for institutional investors. Additionally, a preliminary base shelf prospectus has been filed, allowing potential offerings up to C$50 million over 25 months, though no immediate fundraising is planned. The company reported a healthy cash position of C$14,931,106.
Gold Mountain Mining Corp. has received its M-199 Mining Permit from the Ministry of Energy, Mines & Low Carbon Innovation Communications Office after 18 months of regulatory processes. The company will commence mining at the high-grade 1100 and 1300 vein systems, with the first delivery to New Gold Inc. expected in November. Year 1 projections indicate an after-tax profit of $10 million, with anticipated annual production of 19,000 oz of gold. This milestone marks a significant transition for Gold Mountain from exploration to production.
Gold Mountain Mining Corp. has received its M-199 Mining Permit from the Ministry of Energy, Mines & Low Carbon Innovation after 18 months of regulatory efforts. The company plans immediate mining of the high-grade 1100 and 1300 vein systems at historical pit 2, with expectations to achieve commercial production in November. Anticipated annual after-tax profit for Year 1 is $10 million. The first mineralized material delivery to New Gold Inc. is expected in late Q4 2021, marking a significant milestone for the company.
Gold Mountain Mining Corp. has released a follow-up regarding its previous announcement on the M-199 Mining Permit amendment. The company apologized for any language perceived as dismissive to Indigenous Nations and acknowledged their decision-making processes. Gold Mountain emphasized its commitment to build relationships with affected communities and engage in consultations. The press release also highlights the importance of the Environmental Assessment Act for future project expansions. Despite challenges from the pandemic and other regional issues, the company is focused on respectful collaboration.
Gold Mountain Mining Corp. has announced that the Ministry of Energy, Mines & Low Carbon Innovation Communications Office has received final comments on the draft mine permit from local communities and the Mine Review Committee. EMLI will now draft and submit the final permit for approval. The company anticipates the permit will be submitted in approximately two weeks, allowing for ore delivery to New Gold's New Afton Mine in October. Development is ongoing, with waste rock mining and high-grade mineralization exposure underway, aiming for production later this year.
Gold Mountain Mining Corp. (TSXV:GMTN)(OTCQB:GMTNF) announced high-grade assay results from its Phase 2 drill program at the Elk Gold Project in Merritt, BC. The results include significant grades, such as 17.3g/t Au over 1.0m and 13.9g/t Au over 1.3m, indicating strong vein continuity. The program aims to expand resources in the Siwash North zone and possibly reach a million ounces of gold by fall. The company is also re-logging historical core samples and conducting a soil survey in the Elusive zone, which shows potential for additional discoveries.
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?
