Vancouver-based miner Gold Mountain has se-cured its first payment for ore delivery to New Gold’s New Afton mine. Payment in the amount of about US$ 550,000 was collected for Feb-ruary deliveries.
“Gold Mountain has begun to deliver high-grade ore from the 1300 vein” and “is forecasted to deliver 1,650 oz [of gold] for the month of March translating to anticipated revenues of approximately $3,000,000. As of March 17th, the Company has already delivered 1,100 oz” of gold, the Canadian business said in a statement.
Next month, the miner expects to deliver about 1,650 oz of gold to New Afton, according to the statement.
“We are currently working with New Gold to help ensure industry best practices are attained promptly. We have begun sampling material from our high-grade 1300 vein and are ramping to full scale produc-tion in March,” said Kevin Smith, the director and CEO of Gold Moun-tain