NJMC - NJMC STOCK NEWS

New Jersey Mining Company (OTCQB:NJMC) reported its Q1 2021 financial results, revealing a revenue increase to $1,586,627 from $1,400,834 year-over-year, attributed to higher gold prices. However, the company faced challenges, resulting in a net loss of $1,662,404, up from $162,189 in Q1 2020. Significant underground production gains and a record month in March were noted, alongside increased exploration expenses of $717,707. Notably, cash costs per ounce rose to $1,476 from $1,073. NJMC also acquired over 500 acres of mining claims, enhancing its position in the Murray Gold Belt.

New Jersey Mining Company (OTCQB:NJMC) announced significant discoveries of two gold-quartz veins called Badger and Argus in the Murray Gold Belt, the first in over 100 years. The Badger vein yielded gold values up to 18 gpt Au, while the Argus vein displayed widths of 10 to 50 centimeters and assays up to 8 gpt Au. Ongoing exploration includes trenching, geophysical investigations, and drilling. The company emphasizes its vertically integrated structure and focus on both gold and critical minerals.

New Jersey Mining Company (OTCQB:NJMC) has acquired over 500 acres of patented mining claims in the Murray Gold Belt for $1,699,000, totaling more than 1,500 acres of private land. This acquisition consolidates NJMC’s holdings, positioning it as the largest private landowner in the area. The strategic land package advances their gold exploration efforts, leveraging a history of gold production. To fund the acquisition, NJMC issued secured convertible promissory notes totaling $1,750,000 with an 8% interest rate.

New Jersey Mining Company (OTCQB:NJMC) reported notable preliminary operating results for Q1 2021, highlighting increased production despite challenging conditions. Milling operations processed 10,118 dry metric tonnes, up 1.4% from Q1 2020, with improved mill feed grades of 3.62 grams per tonne gold. Noteworthy high-grade gold was discovered at the Klondike pit, indicating promising exploration potential. Underground mining saw significant ore tonnage, enhanced by a new mining vehicle that cut muckout times by 60%.

New Jersey Mining Company (CSE:NJMC)(OTCQB:NJMC) released its consolidated operating and financial results for the year ended December 31, 2020. Key highlights include revenues of $5.67 million, down from $6.12 million in 2019, largely due to reduced tonnes processed. However, the company achieved a gross profit of $67,546, recovering from a gross loss of $738,548 in 2019. Significant operational gains were noted, with an increase in underground production and key property acquisitions, positioning NJMC for future growth despite ongoing challenges from the pandemic and operational costs.

New Jersey Mining Company (OTCQB:NJMC) provides a comprehensive update on its operational plans, including potential up-listing to a senior exchange and increased gold production at the Golden Chest Mine. The company aims for 20,000 ounces of annual gold production with a projected capital expenditure of $20.4 million. Positive drill results have indicated high-grade gold veins, enhancing production prospects. Furthermore, NJMC is evaluating a spin-out of its Rare Earth Element subsidiary to benefit shareholders. The company underscores its commitment to evolving strategies based on market conditions.

New Jersey Mining Company (OTCQB:NJMC) announces high-grade gold results from its core drilling at the Golden Chest. Notable intercepts include GC 21-184 with 1.5 meters of 20.1 gpt gold and GC 20-183 featuring 0.9 meters of 14.7 gpt gold. CEO John Swallow praises the drill program's success, noting additional promising veins. This program focuses on proving vertical continuity of identified ore shoots. NJMC maintains a vertically integrated structure and continues to explore opportunities in gold and critical minerals.

New Jersey Mining Company (NJMC) has announced the grant of 4,200,000 stock options to its employees and directors, with each employee receiving 100,000 options exercisable at $0.40 per share. This decision follows a conservative approach over the last three years, during which no options were granted to officers or directors. The board aims to foster a sense of ownership among employees. NJMC, based in North Idaho, is involved in gold production and exploring Critical Minerals, contributing to a more sustainable future.

New Jersey Mining Company (NJMC) reported significant drilling results from its Golden Chest Mine, locating 7.3 meters grading 11.5 grams per tonne (gpt) gold, including 2.3 meters at 19.5 gpt. This marks the deepest intercept yet in the Joe Dandy area, over 400 meters south of current mining zones. NJMC's drilling strategy targets deeper ore shoots, enhancing the potential for increased production. The company plans to drill 5,000 meters before spring, focusing on high-grade sections and the development of new ore shoots.