Gold Mountain Mining: On The Path To Production Gold Mountain Mining Corp. (TSXV: GMTN) is a Vancouver-based advanced-stage junior gold exploration company that is developing its flagship Elk Gold Property in British Columbia. The 16,716 hectare property is host to the past-producing high-grade Elk Mine, which is located 35 minutes southeast of Merrit and 45 minutes west of Kelowna, and is easily accessible by road and can be operated year-round.
The company caught our attention recently when it’s share price was essentially cut in half, which seemed surprising considering the company had completed a $12 million bought-deal financing at $2.10 per share.
Gold Mountain is in the process of preparing the high-grade Elk Mine for open-pit production and has already commenced stripping waste rock while it awaits its mining permit. The firm expects to receive this permit by early August, which is to be followed shortly thereafter by its environmental permit. Following the receipt of these permits, Gold Mountain will then begin production, with a goal of delivering its first ore shipment by October 2021 and generating revenue.
https://thedeepdive.ca/gold-mountain-mining-on-the-path-to-production/