Post by
MojoMagic on Sep 16, 2023 4:49pm
Report card for Q2
Reviewed 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.
Comment by
TELEMARKER on Sep 17, 2023 1:06pm
underground mining instead open cut