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New Gold Inc T.NGD

Alternate Symbol(s):  NGD

New Gold Inc. is a Canadian intermediate gold mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. The Company is engaged in the acquisition, exploration and development of natural resource properties. Rainy River is a gold mine located in Northwestern Ontario, Canada, approximately 65 kilometers (km) northwest of Fort Frances, Ontario. The New Afton mine is located approximately 10 km west of Kamloops, approximately 350 km northeast of Vancouver, British Columbia, Canada.


TSX:NGD - Post by User

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Post by psych01on Oct 25, 2024 9:56am
89 Views
Post# 36281827

Gold Mountain Receives Notice of Default & Breach of Contrac

Gold Mountain Receives Notice of Default & Breach of ContracGold Mountain Receives Notice of Default & Breach of Contract Vancouver, Canada — March 8, 2024 – Gold Mountain Mining Corp. (“Gold Mountain” or the “Company”) (TSX: GMTN) (OTCQB: GMTNF) (FRA: 5XFA) announces that it has received notice of default from Hedge Minerals Corp. (“Hedge”) after failing to make its payment obligations outlined under the Promissory Note dated September 13, 2023 (“the Note”). Hedge has demanded immediate payment of the original payment owing, six month break fee, all additional interest, and all costs associated to legal and professional consulting regarding review and defense of legal rights under the terms of the note. Gold Mountain management is currently attempting to negotiate possible solutions to restructure the terms of the Note to resolve the current default and breach. Nhwelmen Construction GSA Default Update The company also continues to work towards resolution with Nhwelmen Construction LP Ltd. with respect to their current GSA default and demand notice(s). At this time no resolution has been found
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