Gold Mtn Mng Stock Price, News & Analysis

Gold Mountain Mining Corp. (TSX:GMTN) announced its Q1 2022 financial results, reporting revenue of $3,706,423 and an adjusted EBITDA of $526,949. The Company mined 15,063 tonnes of ore, yielding 1,898 AuOz and 1,697 AgOz. Despite achieving production milestones, operational challenges during the Elk Gold Mine's commissioning impacted ore production levels. The Company is addressing these issues through initiatives like enhanced drilling and sampling procedures. It wrapped the quarter with $18,819,693 in cash, laying groundwork for future expansion.

Gold Mountain Mining Corp. has successfully completed a bought deal public offering of 14,800,000 units at $1.25 each, raising $18.5 million. Each unit comprises one common share and one-half warrant, with the warrants exercisable at $1.75 until April 21, 2024. Proceeds will support the development of the Elk Gold Project, repay debt, and provide working capital. The offering was led by Eight Capital and is subject to specific U.S. regulations on securities.

Gold Mountain Mining Corp. has successfully intercepted additional mineralization at the Elk Gold project during its Phase III drill campaign in the Siwash North Zone. Notable results include high-grade gold intercepts such as 1.50 m grading 42.39 g/t Au and 0.30 m of 207.00 g/t Au. These findings will enhance geological confidence in the adjacent veins and potentially accelerate their incorporation into the mining plan. The company aims to publish an updated resource estimate in late 2022.

Gold Mountain Mining Corp. (TSX:GMTN) has announced successful drilling results from its Phase III campaign at the Elk Gold project, revealing high-grade mineralization in the Siwash North Zone.

Key intercepts include 1.50 m at 42.39 g/t Au and significant findings from other drill holes. These results enhance geological confidence and aim to expand the resource base. The company anticipates releasing an updated resource estimate later in 2022. CEO Kevin Smith highlighted plans for integrating new high-grade discoveries into their mining operations, aiming for a production profile of 19,000 oz.

Gold Mountain Mining has announced a revenue of $548,862 for February ore deliveries to New Gold's New Afton Mine. The company's first month of operation involved delivering 2,500 tonnes of ore with an average gold grade of 3.9 g/t. In March, Gold Mountain expects to deliver approximately 1,650 ounces of gold, projecting revenues of about $3 million. The company is ramping up production from its high-grade 1300 vein and anticipates continued growth with further deliveries planned for April.

Gold Mountain Mining Corp. has announced a new high-grade gold discovery in the Elusive Zone, located 5km southwest of the Siwash North gold resource at their Elk Gold Project. The initial drill results, including an impressive intercept of 51.15 g/t Au over 2.07m, confirm substantial high-grade zones and significant exploration potential. This discovery may enable Gold Mountain to upscale its resource and enhance production capabilities significantly. The Phase III drill program is underway, with plans for further exploration to follow.

Gold Mountain Mining Corp. has announced a significant discovery of a new high-grade gold system in the Elusive Zone, located 5km southwest of its Siwash North gold resource. Recent diamond drill results include a highlight of 2.07m grading 51.15 g/t Au and significant mineralization, showcasing the exploration potential of the Elk Gold Project. This marks the first drilling in the Elusive Zone, indicating promising scalability and a clear path for resource expansion as the company advances its Phase III drill program.

Gold Mountain Mining Corp. has successfully completed its first ore delivery to New Gold Inc. at the New Afton Mine, marking a significant step in its transition to revenue generation. Mined from the 1300 vein, this high-grade ore will be shipped regularly, with ownership transferring upon delivery, thus mitigating recovery risks for Gold Mountain. The company plans to ramp up deliveries and initiate drilling for further resource expansion, anticipating a production profile of 19,000 oz annually for the first three years.

The Ore Purchase Agreement entails a commitment to deliver 70,000 tonnes of ore per year.

Gold Mountain Mining has successfully completed its first delivery of high-grade ore to New Gold Inc. at the New Afton Mine in British Columbia, marking a significant step towards cash flow and revenue generation. The ore was sourced from the 1300 vein, previously mined between 2012 and 2014 at an average grade of 16.7 g/t. Under the Ore Purchase Agreement, Gold Mountain will deliver 70,000 tonnes of ore per year, with ownership transferring upon delivery, thus minimizing recovery risks. Future plans include ramping up deliveries and expanding production operations.