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. has announced promising assay results from its Phase 2 drill program at the Elk Gold Project near Merritt, BC. These results extend the mineralized zones and showcase significant gold grades, including 1.0m at 17.3g/t Au and 1.3m at 13.9g/t Au. The company aims to increase its resource estimate to 1 million ounces by fall 2021, focusing on high-grade veins. The ongoing exploration includes a geochemical survey in the Elusive Zone, indicating potential for new discoveries. Gold Mountain aims to connect mineralization across zones in its ambitious 10,000m drill program.
Gold Mountain Mining Corp. (GMTNF) provided a corporate update, highlighting its rapid transformation into a near-term gold producer. Key achievements include a 49% increase in total mineral resources to 651,000 ounces, an after-tax NPV5% of C$231M, and plans to begin ore mining by September. The company has closed a $10M private placement and received regulatory approvals for construction. Forecasts suggest reaching 1,000,000 ounces in mineral resources and commencing revenue generation by November 2021. Mine construction has officially begun.
Gold Mountain Mining Corp. (TSX.V:GMTN, OTCQB:GMTNF) provided a corporate update, highlighting its transition to a near-term gold producer. Key achievements since listing in December 2020 include securing a $10M Ore Purchase Agreement with New Gold Inc., completing a Phase 1 Drill Program with high-grade results, and a recent 49% increase in mineral resources to 651,000 ounces. The company anticipates starting ore mining in September 2021 and achieving commercial production by December 2021, with an after-tax NPV5% of C$231M from a recent preliminary economic assessment.
Gold Mountain Mining Corp. has signed a Letter of Intent (LOI) with New Gold Inc. to boost its ore delivery from 70,000 to 350,000 tonnes per annum starting from the fourth production year. This 400% increase enhances operational scalability without the need for an on-site mill, significantly lowering all-in sustaining costs (AISC) from $735 to $554 per ounce. The ramp-up is scheduled for 2024. The collaboration ensures efficient ore processing and timely deliveries, bolstering the company's growth strategy.
Gold Mountain Mining has signed a Letter of Intent with New Gold Inc to increase its ore delivery from 70,000 to 350,000 tonnes annually, starting in year four of production. This 400% increase in tonnage reflects a significant scaling of operations without the need for an on-site mill, reducing all-in sustaining costs from $735/ounce to $554/ounce. The ramp-up is scheduled for 2024, supported by revised economic assessments and permitting efforts to minimize environmental impacts and operational costs.
Gold Mountain Mining Corp. (TSXV:GMTN)(OTCQB:GMTNF) announced updates on the construction progress at its Elk Gold Mine in British Columbia. The Company received authorization from the Ministry of Mines to commence construction and has begun waste rock mining. The mining partner, Nhwelmen-Lake, is mobilizing equipment and has initiated road and laydown construction. The Company is on track for ore delivery by October 2021 and anticipates revenue generation starting in November 2021 as operations proceed according to schedule.
Gold Mountain Mining Corp. has provided a construction update for its Elk Gold Mine in British Columbia, which is 100% owned by the company. Key highlights include receiving authorization from the Ministry of Mines for construction, the mobilization of Nhwelmen-Lake LP for site work, and the commencement of waste rock mining using gravel borrow. Ore delivery is anticipated in October 2021, with revenue expected by November. The company is adhering to aggressive timelines, aiming for large-scale operations after obtaining the final Mine Permit.
Gold Mountain Mining Corp. (TSXV:GMTN)(OTCQB:GMTNF) announced the release of its draft Mine Permit by the Ministry of Energy, Mines & Low Carbon Innovation. This crucial document confirms the company's progress toward securing the final Mine Permit necessary for production at the Elk Gold Mine.
CEO Kevin Smith highlighted the achievement as a testament to their management team's execution of aggressive timelines. The draft permit outlines conditions for construction, operation, monitoring, and financial assurance for the mine's development.
Gold Mountain Mining Corp. announced the receipt of a draft Mine Permit from the Ministry of Energy, Mines & Low Carbon Innovation for its Elk Gold Mine project. The draft permit aligns with the company's expectations and is a critical step towards final approval. CEO Kevin Smith expressed optimism about meeting the project timeline since going public. The draft includes monitoring, operating, and reclamation plans. Gold Mountain aims to secure additional authorizations without delays in production.
Gold Mountain Mining Corp. has executed three Memorandum of Understandings (MOUs) with Indigenous communities for the Elk Gold Project in British Columbia. These agreements aim to foster ongoing collaboration and ensure social and economic benefits. The company's mining contractor, Nhwelmen-Lake LP, a majority Indigenous-owned firm, is mobilizing for mine construction, projected to create 30 jobs and boost the local economy for the next decade. Gold Mountain emphasizes its commitment to strong relationships with Indigenous partners as it scales its operations.
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?
