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Gold Mountain Mining Corp T.GMTN

Alternate Symbol(s):  GMTNF

Metals & Mining Industrial Metals & Minerals
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

Gold Mountain Mining Corp
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Post by Betteryear2on Mar 02, 2023 9:27pm
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Post# 35316568

Gold Mountain Provides Operational and Corporate Update

Gold Mountain Provides Operational and Corporate Update

VANCOUVER, BC / ACCESSWIRE / March 2, 2023 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) is pleased to provide an operational and corporate update.

Highlights:

  • The Company continues to improve operations at the Elk Gold Project, generating approximately $2.3M CAD of revenue in January 2023 with an adjusted EBITDA1 of approximately $725k.
  • A total of 1,164 AuOz and 1,183 AgOz were delivered to New Gold Inc.'s New Afton Mine with an average head grade of 6.04 g/t Au and 6.15 g/t Ag.
  • Cash costs2 for January were approximately CDN$1,187/oz Au (US$886/oz Au) and all-in sustaining costs (AISC)3 were approximately CDN$1,485/oz Au ($US1,108/oz Au).
  • The Company has now seen four consecutive months of improved grade with January being the Company's best month since operations began in February 2022.
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