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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 17, 2023 2:49pm
267 Views
Post# 35501914

Going concer

Going concerSo digesting all the Q1 report:
  • Insanely high strip ratio
  • lower ounces per month gold production trending down
  • high Opex
  • sold ther silver to pay for $3m payment
  • at odds with government over waste rock pile $1.5 m Liability
  • Limited working capital and behind on net payable liabilities
  • defferring share based compensation artificially lowering other expenses
  • bordering on bankruptcy again
Kevin Smith lied to everyone on the operating status of this mine.  Their extremely outdated PEA is a joke. Run while you still can. 
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