Gold Mountain Mining – Beginning Construction on its 100% owned Elk Gold Project in British Columbia, with full production this year
Kevin Smith, CEO and Director of Gold Mountain Mining (TSX.V:GMTN – OTCQB:GMTNF) joins us for an update on construction at the 100% owned Elk Gold Project in British Columbia. We discuss the key economic metrics of the project, the recent $10 Million capital raise, and the straight forward process to move into production this year. The Company has received the draft Mine Permit, has a short ramp-up to waste rock mining in July & August, with targeted ore mining in September, hauling ore to New Gold’s New Afton mine in October, and first payables slated for November.
If you have any follow up questions for Kevin about Gold Mountain, please email us at fleck@kereport.com or shad@kereport.com.
Click here for a summary of the recent news out of Gold Mountain Mining.
Another excerpt from the Adrian Day piece linked above:
“Here comes Basel III”
“Another major factor potentially contributing to higher gold prices the last few months has been buying from banks ahead of the implementation of the Basel III rules. We do not need to go into all the details of the new Net Stable Funding Requirement (NSFR) rules under Basel III, which come into force in Europe and the U.S. at the end of June (and the U.K. Jan. 1). In essence, the rules make changes to what assets are included in both the asset and liability side of the ledger. Physical gold moves to a Tier 1 asset, counted at 100% of value in calculating reserves. In and of itself, that would be a positive since banks could hold gold without a disadvantage over Treasuries and other assets.”
“Paper gold, as well as unallocated gold, now have a zero value, meaning that they cannot be used as a source of bank funding. Thus, the difference in valuation for physical and paper gold has been widened substantially, giving banks an incentive to buy physical. (Moving unallocated gold to allocated does not help the banks, since allocated gold is not a bank asset.)”
Gold & Silver Price Update + Record High Inflation
iGold Advisor – Christopher Aaron – June 11, 2021
Gold Mountain Mining: Digging Into The Updated PEA
Jun. 12, 2021 – T.D. – Seeking Alpha
Adrian Day – What Is Driving Gold?
Streetwise Reports (6/10/21)
“The recent jump in the Consumer Price Index (CPI) generated a lot of attention, with consumers noticing a wide range of price increases while the Federal Reserve and its apologists insist it is only “transitory.” This in itself is rather peculiar, given that the Fed has been seeking higher inflation for sometime: Should they not have taken a victory lap?”
“The arguments for April’s CPI jump being short-lived are two: One, that last April’s was abnormally low, given it was at the start of lockdown in many states, so the year-to-year comparison would inevitably be higher (the “base effect”); and two, that with many states now opening up, there is pent-up demand not yet met by increased demand.”
Are higher prices only “transitory?”
“The first is, in theory, absolutely true, but in the case of CPI numbers patently false, given that the absolute CPI level is well above (over 4%) that of several months before any COVID lockdowns. The second has more validity, but it may be a few months before we see if it is, in fact, true in reality. Different conditions are affecting different sectors and regions differently. Pent-up demand is evidenced in, for example, hotel room rates, while restaurants, for example, are slower to come back to full re-opening (whether because of lingering capacity restrictions or that many simply went out of business over the past year).”
“But commodity input prices are up across the board, more than the Producer Price Index, which, in turn, is up more than consumer prices, suggesting that there are higher prices ahead as these earlier-stage prices work their way through the supply chain.”
https://www.streetwisereports.com/article/2021/06/09/what-is-driving-gold-inflation-and-basel.html?utm_source=delivra&utm_medium=email&utm_campaign=comp%206-11-21&utm_id=41476469