Gold Mountain Mining CEO: Driving Towards Production - Fully Cashed up and Primed to Produce

TL;DR

Gold Mountain CEO Kevin Smith discusses the significance of a recent private placement, the company's strong cash position, and plans to move forward with the Elk Gold Project.

Transcript

welcome to inn ceo talks in this episode we're talking to kevin smith the ceo and director of gold mountain which trades on the tsx venture exchange under the symbol gmtn the company is based in british columbia and is focused on exploring and developing the elk gold project close to merit bc the mine is a pass producer and the claims and leases co... Read More

Key Insights

• 😚 Gold Mountain successfully closed a private brokered placement, securing double the offered amount.
• ⏮️ The company managed to conduct the placement without diluting its shares, rewarding previous shareholders' support.
• 🙃 The obtained funds are crucial for de-risking the Equinox property payment and progressing with drilling, permitting, and environmental work.
• 📌 The Elk Gold Project benefits from its strategic geographical location, with easy access to infrastructure and resources.
• 🌱 Gold Mountain aims to become British Columbia's next gold producer, with plans to expand its resource and seek further opportunities.
• 😤 The management team combines young talent with extensive operations experience, supported by a strong advisory board.
• 👷 Shareholders can expect a potential re-evaluation of the company's valuation once permits are secured and construction begins.

Questions & Answers

Q: What was the significance of the private brokered placement for Gold Mountain?

The private placement allowed Gold Mountain to secure double the originally offered amount, demonstrating strong support for the project and a cash position that ensures progress in various areas.

Q: How did Gold Mountain manage to raise funds without diluting its shares?

By conducting the placement at a price higher than the initial qualifying transaction, Gold Mountain avoided dilution and rewarded previous shareholders for their support. The higher share price also reflects the positive news flow and excitement surrounding the company.

Q: What are the immediate plans for Gold Mountain in 2021?

Gold Mountain aims to secure permits by the end of April or early May, begin construction in June, initiate waste rock mining in July or August, and start ore mining in September. The goal is to deliver ore to New Afton in October or November.

Q: Will Gold Mountain operate the Elk Gold Project as a mine or look to sell it?

Gold Mountain intends to build and operate the Elk Gold Project as a mine. The company plans to use cash flow to continue expanding the asset and seek new opportunities for near-term cash flow or large-scale projects.

Summary & Key Takeaways

• Gold Mountain closed a private brokered placement, doubling the originally offered amount, with interest from experienced partners in the project.

• The placement was completed at a price higher than the initial qualifying transaction, indicating growing excitement and support from shareholders.

• The funds obtained will be crucial for driving the project forward, including de-risking the Equinox property payment and facilitating drilling, environmental work, and permitting.