Gold Mountain & New Found GoldI have a substantial interest in Gold Mountain but was trying to get to the terms of the agreement with New Gold purchase so I contacted Gold Mountain investor relations. I had two questons:
Q) On what was the production sale based, set price or market;
A) It is based on Market Value at the time of production based upon average gold and silver content; Revenue sharing with New Gold.
Q) Is the agreement indefinite or is there a point where economies of scale would make Gold Mountain build their own mill.
A) The agreement is indefinite, no plans to build a mill
Follow Up Q for which I am awaiting a responsel;
Q) What is the % breakdown of the Revenue Sharing.
When I get a respones I will post that to the board as well but it appears that Gold Mountain is guaranteed to have a low cost production from this mine at approximately $530 but I would like to know the Revenue Sharing agreement. In either event this not the only mine Gold Mountain has.
For those interested; New Found Gold is the best gold opportunity out there so I will share their latest headline. I am not a pusher because no need with this stock as it is already high profile but it is still early in this mine which will probably return the greatest amount of money any of us will see in the near future as it is massive. Here is the latest headline and this is huge but every headline to date has been massive amount of Gold. This is my largest holding as it has already tripled from my first buy but it has a long way to go UP! Gold Mountain is my 2nd largest holding so good luck to all.
New Found Intercepts 430.2 g/t Au Over 5.25m in New Discovery at Golden Joint Zone, 1km North of Keats