Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) has released its financial and operating results for the three and six months ended July 31, 2024 ("Q2 2025")The Company’s detailed Financial Statements and Management's Discussion and Analysis ("MD&A") are available for review on SEDAR and the Company’s websiteAll figures are expressed in Canadian dollars unless otherwise stated.
Highlights for Q2 2025
Gold Mountain reported gold sales of 114 ounces from 3,877 tonnes delivered at an average grade of 1.25 grams per ton (g/t)The revenue for the quarter amounted to $105,012, with an average realized gold price of $897 per ounce (US$658)The Company faced a mine operating loss of $1,167,618 and a net loss of $2,171,099, equating to $0.00 per share (basic)Adjusted EBITDA stood at ($1,337,101), reflecting the challenges faced during the quarterThe total cash costs per ounce sold were $10,041, and the strip ratio was 22.8.
Operational Results for Q2 2025 vsQ2 2024
- Ore Mined: 3,877 tonnes in Q2 2025 compared to 7,675 tonnes in Q2 2024.
- Waste Mined: 88,385 tonnes in Q2 2025 versus 551,033 tonnes in Q2 2024.
- Total Mined: 92,262 tonnes in Q2 2025, down from 558,708 tonnes in Q2 2024.
- Ore Delivered: 3,449 tonnes in Q2 2025, a decrease from 8,597 tonnes in Q2 2024.
- Average Ore Grade Delivered: 1.25 g/t gold in Q2 2025, significantly lower than 4.01 g/t in Q2 2024.
- Strip Ratio: Improved to 22.8 in Q2 2025 from 71.8 in Q2 2024.
- Gold Ounces Sold: 114 ounces in Q2 2025, down from 965 ounces in Q2 2024.
Operational Update
During Q2 2025, Gold Mountain mined 3,877 tonnes of ore and 88,385 tonnes of waste, all from the Siwash North PitThe average ore grade delivered was 1.25 g/t gold, resulting in 114 gold ounces sold and a strip ratio of 22.8This represents a decrease in production from Q2 2024, where 7,675 tonnes of ore and 551,033 tonnes of waste were mined with an average grade of 4.01 g/t gold, leading to 965 gold ounces sold and a higher strip ratio of 71.8.
The reduced strip ratio in Q2 2025 is attributed to the implementation of a more targeted mining methodology, which helped to minimize dilution and lossThe Company is focused on increasing production as improvements in mining methods, grade control, ore processing, and sampling are realizedHowever, Gold Mountain acknowledges that significant increases in production before these improvements are fully realized could impact potential earnings.