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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 Inspired423on Jun 15, 2023 2:52pm
235 Views
Post# 35498640

GMTN Q1 results

GMTN Q1 results

With a insanely high strip ratio and excessive costs to remove to access ore, the mgmt was lucky the market price for gold increased to save their bacon. 

Readers are learning that this company is just barely surviving. 

Note how the financials have different numbers for overhead depending on which section you read - the CFO should be fired for such discrepancies.

The price of diesel and the market price for gold continue to rescue this company from the abyss.
 

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