Impact: Positive
Northern Vertex has announced that they continue to meet or exceed design expectations laid out by the 2015 Feasibility Study for its Moss Mine in Arizona.
Northern Vertex Mining Corp. (TSXV:NEE) has announced that it has made its first gold pour at its Moss Mine, which recently started production, an important milestone and the next step towards commercial production. As well the company has prepared itself to execute on significant M&A by securing a commitment of up to $100M for acquisitions and development from Sprott Private Resource Lending LP plus a C$2M equity investment (at $0.52 per unit – each unit is a share plus 2-year half warrant at $0.68)- for exploration spending.
Northern Vertex Mining Corp. (TSXV:NEE) has announced that it has filed its unaudited interim consolidated financial results for FQ2 2018 ended December 31, 2017. The company ended 2017 with C$22.2M in cash, down from C$25M at June 30, 2017 as a result of cash outflows to the construction of the Moss Mine, which was partially offset by the cash inflows from various financings completed by the company.
Northern Vertex Mining Corp. (TSXV:NEE) has announced that it has entered the final stages of commissioning at the Moss Mine. The company has continued to crush and load ore from the mine to the leach pad, which now is covered by 21,775 tonnes of crushed ore. Leaching is underway, and with Merrill Crowe, plant in the last stages of commissioning, first gold pour is still possible in this quarter.
Northern Vertex Mining Corp. (TSXV:NEE) has started stacking ore on the recently completed leach pad, in preparation for the first gold pour at Moss expected this quarter. The company is ramping up production towards 2,500tpd then to 5,000tpd, 7,800 tons have been stacked week-to-date.
Northern Vertex Mining Corp. (TSXV:NEE) has commissioned the Moss Mine crushing plant, with subsequent programming and calibration work to follow, in order to begin first ore stacking on the leach pad by next week. In addition, the company has drawn US$3 million of the US$6 million non-revolving working capital facility with Greenstone Resources II L.P., which will be used for funding for the commissioning of the Moss Mine and exploration including general corporate and working capital requirements.