Gold Mtn Mng Stock Price, News & Analysis

Gold Mountain Mining Corp. has signed a Letter of Intent (LOI) with New Gold Inc. to boost its ore delivery from 70,000 to 350,000 tonnes per annum starting from the fourth production year. This 400% increase enhances operational scalability without the need for an on-site mill, significantly lowering all-in sustaining costs (AISC) from $735 to $554 per ounce. The ramp-up is scheduled for 2024. The collaboration ensures efficient ore processing and timely deliveries, bolstering the company's growth strategy.

Gold Mountain Mining has signed a Letter of Intent with New Gold Inc to increase its ore delivery from 70,000 to 350,000 tonnes annually, starting in year four of production. This 400% increase in tonnage reflects a significant scaling of operations without the need for an on-site mill, reducing all-in sustaining costs from $735/ounce to $554/ounce. The ramp-up is scheduled for 2024, supported by revised economic assessments and permitting efforts to minimize environmental impacts and operational costs.

Gold Mountain Mining Corp. (TSXV:GMTN)(OTCQB:GMTNF) announced updates on the construction progress at its Elk Gold Mine in British Columbia. The Company received authorization from the Ministry of Mines to commence construction and has begun waste rock mining. The mining partner, Nhwelmen-Lake, is mobilizing equipment and has initiated road and laydown construction. The Company is on track for ore delivery by October 2021 and anticipates revenue generation starting in November 2021 as operations proceed according to schedule.

Gold Mountain Mining Corp. has provided a construction update for its Elk Gold Mine in British Columbia, which is 100% owned by the company. Key highlights include receiving authorization from the Ministry of Mines for construction, the mobilization of Nhwelmen-Lake LP for site work, and the commencement of waste rock mining using gravel borrow. Ore delivery is anticipated in October 2021, with revenue expected by November. The company is adhering to aggressive timelines, aiming for large-scale operations after obtaining the final Mine Permit.

Gold Mountain Mining Corp. (TSXV:GMTN)(OTCQB:GMTNF) announced the release of its draft Mine Permit by the Ministry of Energy, Mines & Low Carbon Innovation. This crucial document confirms the company's progress toward securing the final Mine Permit necessary for production at the Elk Gold Mine.

CEO Kevin Smith highlighted the achievement as a testament to their management team's execution of aggressive timelines. The draft permit outlines conditions for construction, operation, monitoring, and financial assurance for the mine's development.

Gold Mountain Mining Corp. announced the receipt of a draft Mine Permit from the Ministry of Energy, Mines & Low Carbon Innovation for its Elk Gold Mine project. The draft permit aligns with the company's expectations and is a critical step towards final approval. CEO Kevin Smith expressed optimism about meeting the project timeline since going public. The draft includes monitoring, operating, and reclamation plans. Gold Mountain aims to secure additional authorizations without delays in production.

Gold Mountain Mining Corp. has executed three Memorandum of Understandings (MOUs) with Indigenous communities for the Elk Gold Project in British Columbia. These agreements aim to foster ongoing collaboration and ensure social and economic benefits. The company's mining contractor, Nhwelmen-Lake LP, a majority Indigenous-owned firm, is mobilizing for mine construction, projected to create 30 jobs and boost the local economy for the next decade. Gold Mountain emphasizes its commitment to strong relationships with Indigenous partners as it scales its operations.

Gold Mountain Mining has signed three Memorandum of Understanding (MOU) with Indigenous communities near the Elk Gold Project. These MOUs aim to foster long-term economic collaboration and engagement. CEO Kevin Smith highlighted the importance of these partnerships for project scaling. The agreements also include a mining contract with Nhwelmen-Lake LP, an Indigenous-owned company, which will start construction at Elk Gold, creating up to 30 job opportunities over the next decade. This initiative strengthens Gold Mountain's commitment to Indigenous investment in the Nicola Thompson region.

Gold Mountain Mining Corp. (GMTNF) released an updated preliminary economic assessment (PEA) for the Elk Gold Project, driven by an increased mineral resource estimate. The PEA projects an after-tax NPV of C$231 million and an annual production ramp-up from 19,000 ounces in the initial years to 65,000 ounces by Year 4. The project will utilize contract mining and an Ore Purchase Agreement with New Gold Inc. for processing. Notably, the PEA is preliminary and includes inferred resources, indicating uncertainty in mineral reserve status.