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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 considers itself to operate in a single segment, being the production of crushed ore, containing both gold and silver, mineral exploration, and development of precious metal resources. The Elk Mine is in south central British Columbia, Canada, approximately 325-km northeast of Vancouver and 55-km west of Okanagan Lake, midway between the cities of Merritt and West Kelowna and hosts a number of known mineralized zones which the Company continues to investigate, develop, and mine. The project consists of approximately 32 contiguous mineral claims covering 22,152-hectare (ha) and two mining leases covering 646-ha.


TSX:GMTN - Post by User

Post by Theckman1on Aug 28, 2022 10:42pm
192 Views
Post# 34925884

Here's my quick take

Here's my quick takeThe U.S. Fed will continue to posture rate increases and being tough on inflation, until economy (which has had two quarters of negative GDP growth) begins to take a turn much lower.  This will be caused by the continued drop in home prices and equities, which will affect the precious metals as well.  

Once the fake posturing by the Fed is over there will be a sharp rise in the precious metals as the market realizes the Fed is really not in control, and the bear market in the GDX and GDXJ will be over.

The Fed can only raise rates so much until the monthly interest payments on the U.S. debt will make up the bulk of the expense side of the "ledger".  Also, US consumers cannot afford to pay higher rates on mortgages, credit cards, auto loans, and other borrowing causes.  There's extreme sensitivity going forward to rates and the performance of consumers.  

What does this mean for GMTN?  Probably a bit more pain and acummulation before things move higher, and very quickly.  All the best,


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