Mammoth Resources touched a 52 week high today temporarily, which might seem strange given the news yesterday. But this is not the case, as the news was actually very positive for the company. When the joint venture deal was struck, this was in 2018 when gold and silver prices were half or what they are today. On top of that, Centerra Gold called all the shots and made it difficult for Mammoth to put out more press releases on a constant basis.
Now Mammoth Resources owns the property 100% once again and they received $1.2 million in work on that project from Centerra, which makes it more valuable and attractive for either raising funds through a placement, or getting a better joint venture partner.
This is an ideal gold project with numerous high grade and deep gold drill results that actually go from the surface down. No doubt, Mammoth Resources will get financing in this bull market.
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