Gold Mountain Mining Has Received Permits, Is Mining Towards Production, And Awaiting Assays From the 13,000 Meter Drill Program
Kevin Smith, CEO of Gold Mountain Mining (TSX.V:GMTN – OTCQB:GMTNF), joins us to discuss the recent company milestone of receiving its permits and mining the first mineralized material at the Company’s Elk Gold Project in BC. We review the simplicity in their mining operations and fixed contract costs to get ore shipped over New Gold’s New Afton processing center where they get a fixed 89% payable without having to finance and construct a mill at this time.
Next we discussed the ongoing exploration work at many areas of their property. The Company awaits drill assays from the Phase 2 drill program, which was expanded from 10,000 meters to 13,000 meters, with a goal of expanding their resources from 651,000 ounces to over 1 million ounces by the end of this year at their Siwash North zone. In addition the Company is also expanding drilling at the Gold Creek Zone, Lake Zone, South Zone, and may have a new bulk tonnage discovery 10kms away at the Elusive Zone.
If you have any follow up questions for Kevin regarding Gold Mountain Mining, then please us at Fleck@kereport.com or Shad@kereport.com.
Do Like Exploration? Buy Producers.
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Jordan Roy-Byrne – The Daily Gold – Nov 9, 2021 #VIDEO
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“Junior producers with successful exploration have been some of the best performers over the past 5 years. Exploration success can help to raise your valuation or increase cash flow, and without dilution. ”
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https://youtu.be/p3g5UIDGhws
Crescat Gets Activist on Gold & Silver #54
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Streamed live on Nov 12, 2021
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Dr. Quinton Hennigh “Rock Talk” QH starts – 22:40
Updates: $ESK 25:39, $NFG 34:16, $GMTN 48:18, $NVO 51:42, $ELO 55:02, $LIO 56:37, $ALTA 58:16, $CBR 1:00:12, $B 1:01:39, $PUMA 1:04:28. $RPX 1:06:01, $MMN 1:07:00, ( $NKG + $KUYA + $FFOX – 1:08:34)
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https://youtu.be/HuUkIX5kHoA
This was a solid update with Gold Mountain Mining, and their plan to get production going this month, with minimal capex needed to be spent, but allowing them to get revenues coming in every month, is what is going to give them the funds to bankroll their intense exploration focus (without diluting shareholders with raise after raise like most exploration companies do).
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I like this business model of (produce, earn, explore) so much more than (finance, explore, finance again, explore, finance again, explore).
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This is the same kind of business model that Calibre, Mako Mining, Novo Resources, Thor Explorations, Minera Alamos, Impact Silver, Endeavour Silver, Alexco, Excellon, Guanajuato Silver, I-80 Gold, Karora Resources, Superior Gold, Argonaut Gold, or Anaconda Mining are all using; where they have production revenues coming in and underpinning the company value as a margin of safety, but are exploring like crazy to grow their resources and company valuations. .
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Like Jordan Roy-Byrne has mentioned a number of times, if you like exploration, then look at growth-oriented “holy grail” producers that are using their revenues to aggressively explore.