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Gold Mountain Mining Corp T.GMTN

Alternate Symbol(s):  GMTNF

Gold Mountain Mining Corp. is a Canada-based gold and silver exploration and development company. The Company is focused on resource expansion at the Elk Gold Project, a producing mine located approximately 57 kilometers (km) from Merritt in South Central British Columbia. The Company is engaged in the production of crushed ore, containing both gold and silver, mineral exploration, and development of precious metal resources. The Company’s principal product is crushed ore produced from the Elk Mine. The Elk Gold Property is a 21,187-hectare (ha) land package. The Elk Gold Project hosts multiple gold mineralized zones within the 21,187-ha property boundary. The Elk Gold is a mesothermal, intrusive related, gold vein system. The Elk Gold Project is a past producing high grade gold mine.


TSX:GMTN - Post by User

Post by MojoMagicon Sep 16, 2023 4:49pm
224 Views
Post# 35639929

Report card for Q2

Report card for Q2Reviewed NI 43-101 (1-22)  this morning and the company is following the game plan discussed in ths report. Currently tweaking things at the open pit to reduce costs of production. New CEO is a mining engineer with 20 years experience which is crucial since we are now on the road to commercial production.
The silver royalty agreement and the line of credit are less dilutive to shareholders than accessing the capital markets and were obtained in a current environment that is difficult for junior miners. The third parties that gave Gold Mountain a much needed monetary  lifeline showed that they have confidence that our company can become cash flow positive.
Key next steps are gaining experience with narrow vein mining and becoming consistently cash flow positive. Getting the share price higher so that any necessary financing through the markets is share holder friendly.

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