GEMXX Corp. (GEMZ) Continues on Path to Disrupt Gold and Gemstone Industries
- GEMXX recently provided an update to shareholders outlining its 2023 milestones and expansion plans for 2024 and beyond
- In 2023, the company acquired a 50% interest in Crazy Horse Mining Inc. (“CHMI”), a Canadian exploration company whose assets include 100% interest in two gold projects in British Columbia
- GEMXX, in collaboration with CHMI, completed the clean-out of the Snow Creek property and recorded positive results showing that the processing of the stockpile yielded 0.929 ounces of gold per 100 cubic yards
- The company has engaged independent experts to complete S-K 1300 reports on its gold and Ammolite assets to enable it to add their value to its balance sheet
Speaking during an October 2023 Bell2Bell Podcast episode, Richard Clowater, the President of GEMXX (OTC: GEMZ), a mine-to-market company that specializes in the production and global distribution of gold, gemstone, and jewelry and owns mining resources, production facilities, and operating assets, underlined that 2021 and 2022 were building years for the company (https://nnw.fm/RuXdv ). “The company had a clear and defined set of objectives from day one. We wanted to disrupt the industry and secure long-term supply contracts with key client groups. These goals were achieved, and GEMXX now has a strong foothold in three of the world’s top markets for our products,” said Clowater.
GEMXX, Clowater explained, achieved the goals by assembling a team with more than 160 years of combined experience in gold and gemstone production, operations, and sales. “Then we used their experience to organize all of our production and establish global distribution channels all within the first year,” he continued, further noting that the company has, over the last two years, amassed more than $600 million in proven Ammolite reserves and $200 million in gold reserves. Notably, the company has achieved this feat with no long-term debt, according to Clowater.
The calendar year 2023 has seen GEMXX witness continued growth, with the company achieving numerous milestones, including the fact that it continues to control each stage of its production as well as distribution and is continuously expanding while avoiding long-term debt. Recently, in an update to shareholders, GEMXX enumerated the 2023 milestones and outlined its expansion plans for 2024 (https://nnw.fm/mRuJq ).
“We are tremendously pleased with the development of the company over the past several months and are extremely excited about the anticipated growth. We look forward to updating shareholders as each milestone below is met. Everything the company has planned is focused on driving shareholder value,” said GEMXX CEO Jay Maull.
The company’s first notable milestone of the year was the acquisition of a 50% interest in Crazy Horse Mining Inc. (“CHMI”), a Canadian exploration company whose assets include 100% interest in two gold projects, the 498-acre Snow Creek and the 240-acre Rosella Creek, located in British Columbia. Completed in March, the acquisition paved the way for GEMXX and CHMI to collaborate on mobilizing mining equipment, completing multiple clean-outs, and recording gold production at the Snow Creek Mine site for the 2023 mining season. March also saw GEMXX announce the signing of an Ammolite Master Supply Agreement with Canadian Ammolite Gems by Kenneth Bradley. Bradley is a recognized Ammolite expert and Canadian influencer with a growing global following.
In July, GEMXX announced it had strengthened its financial position following the involvement of new investors and strategic partners. As a result, the company secured 75% of the 2023 fiscal year’s mining costs for its gold and Ammolite initiatives. The company also reported that it had completed preliminary discussions and had shortlisted engineering firms capable of conducting National Instrument 43-101 reports (equivalent to the S-K 1300 reports) on both gold and Ammolite assets (https://nnw.fm/QytAT ).
A few months later, in September, GEMXX announced it had signed a binding letter of intent to acquire an initial 50% stake in The Yukon Gold Project, pending completion of due diligence. The property holds 2,210,660 ounces of proven gold resources, and is estimated to potentially hold up to 4 million ounces of gold. That month, GEMXX also announced plans to expand Ammolite gemstone production by 300% to support demand.
By October, the company, in collaboration with CHMI, had completed three clean-outs and recording of gold production at the Snow Creek Mine site. The collaboration led to the processing of a total of 31,200 cubic yards of stockpile of gold-bearing ore, yielding 0.929 ounces per 100 cubic yards. According to GEMXX, the production results met expectations. They were also deemed positive, considering much of the materials used during the test program was surface gold-bearing ore stockpiled when making roads, ponds, and pads used for the test site.
That same month, GEMXX announced it had engaged Aurora Geosciences, an independent expert, to complete the S-K 1300 technical reports on four assets owned by GEMXX and CHMI. The reports will enable the company to report confidently and accurately inferred mineral resources already owned but not represented on the balance sheet. Once Aurora Geosciences confirms the resources and a value is calculated, the value will be discounted by 90%, and that discounted value will be added to the balance sheet to represent the Net Present Value of resources before extraction.
“Management feels GEMZ is significantly undervalued. As of Q3 2023, the company only reported $14.1 million for owned resources, but this value is only a fraction of what the company owns. We feel the Net Present Value could exceed ten times that amount once resources are confirmed by an independent expert,” commented Clowater in an October 3 news release (https://nnw.fm/7f9WK ).
Looking ahead into 2024 and beyond, GEMXX is keen on maintaining its focus on expansion and adding shareholder value. The company intends to complete the 50% acquisition of the Yukon Gold Property and initiate a pilot mine on this site; upscale gold production at the Snow Creek Property and move the test plant to the Rosella Creek site; bring its Ammolite Gemstone mine into full production; and complete the S-K 1300 compliant resource reports on its existing assets. GEMXX also looks to complete audits to enable it to be quoted on the OTCQX, the first step to up-listing to a larger exchange like the NASDAQ or New York Stock Exchange.
Those interested in participating through Reg A financing are encouraged to visit the company’s investor page (https://nnw.fm/umXVl) or contact company officials for more information (ir@gemxx.com – 702-930-1815).
For more information, visit the company’s website at www.GEMXX.com/investors.
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://nnw.fm/GEMZ
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- GEMXX recently provided an update to shareholders outlining its 2023 milestones and expansion plans for 2024 and beyond
- In 2023, the company acquired a 50% interest in Crazy Horse Mining Inc. (“CHMI”), a Canadian exploration company whose assets include 100% interest in two gold projects in British Columbia
- GEMXX, in collaboration with CHMI, completed the clean-out of the Snow Creek property and recorded positive results showing that the processing of the stockpile yielded 0.929 ounces of gold per 100 cubic yards
- The company has engaged independent experts to complete S-K 1300 reports on its gold and Ammolite assets to enable it to add their value to its balance sheet
Speaking during an October 2023 Bell2Bell Podcast episode, Richard Clowater, the President of GEMXX (OTC: GEMZ), a mine-to-market company that specializes in the production and global distribution of gold, gemstone, and jewelry and owns mining resources, production facilities, and operating assets, underlined that 2021 and 2022 were building years for the company (https://nnw.fm/RuXdv ). “The company had a clear and defined set of objectives from day one. We wanted to disrupt the industry and secure long-term supply contracts with key client groups. These goals were achieved, and GEMXX now has a strong foothold in three of the world’s top markets for our products,” said Clowater.
GEMXX, Clowater explained, achieved the goals by assembling a team with more than 160 years of combined experience in gold and gemstone production, operations, and sales. “Then we used their experience to organize all of our production and establish global distribution channels all within the first year,” he continued, further noting that the company has, over the last two years, amassed more than $600 million in proven Ammolite reserves and $200 million in gold reserves. Notably, the company has achieved this feat with no long-term debt, according to Clowater.
The calendar year 2023 has seen GEMXX witness continued growth, with the company achieving numerous milestones, including the fact that it continues to control each stage of its production as well as distribution and is continuously expanding while avoiding long-term debt. Recently, in an update to shareholders, GEMXX enumerated the 2023 milestones and outlined its expansion plans for 2024 (https://nnw.fm/mRuJq ).
“We are tremendously pleased with the development of the company over the past several months and are extremely excited about the anticipated growth. We look forward to updating shareholders as each milestone below is met. Everything the company has planned is focused on driving shareholder value,” said GEMXX CEO Jay Maull.
The company’s first notable milestone of the year was the acquisition of a 50% interest in Crazy Horse Mining Inc. (“CHMI”), a Canadian exploration company whose assets include 100% interest in two gold projects, the 498-acre Snow Creek and the 240-acre Rosella Creek, located in British Columbia. Completed in March, the acquisition paved the way for GEMXX and CHMI to collaborate on mobilizing mining equipment, completing multiple clean-outs, and recording gold production at the Snow Creek Mine site for the 2023 mining season. March also saw GEMXX announce the signing of an Ammolite Master Supply Agreement with Canadian Ammolite Gems by Kenneth Bradley. Bradley is a recognized Ammolite expert and Canadian influencer with a growing global following.
In July, GEMXX announced it had strengthened its financial position following the involvement of new investors and strategic partners. As a result, the company secured 75% of the 2023 fiscal year’s mining costs for its gold and Ammolite initiatives. The company also reported that it had completed preliminary discussions and had shortlisted engineering firms capable of conducting National Instrument 43-101 reports (equivalent to the S-K 1300 reports) on both gold and Ammolite assets (https://nnw.fm/QytAT ).
A few months later, in September, GEMXX announced it had signed a binding letter of intent to acquire an initial 50% stake in The Yukon Gold Project, pending completion of due diligence. The property holds 2,210,660 ounces of proven gold resources, and is estimated to potentially hold up to 4 million ounces of gold. That month, GEMXX also announced plans to expand Ammolite gemstone production by 300% to support demand.
By October, the company, in collaboration with CHMI, had completed three clean-outs and recording of gold production at the Snow Creek Mine site. The collaboration led to the processing of a total of 31,200 cubic yards of stockpile of gold-bearing ore, yielding 0.929 ounces per 100 cubic yards. According to GEMXX, the production results met expectations. They were also deemed positive, considering much of the materials used during the test program was surface gold-bearing ore stockpiled when making roads, ponds, and pads used for the test site.
That same month, GEMXX announced it had engaged Aurora Geosciences, an independent expert, to complete the S-K 1300 technical reports on four assets owned by GEMXX and CHMI. The reports will enable the company to report confidently and accurately inferred mineral resources already owned but not represented on the balance sheet. Once Aurora Geosciences confirms the resources and a value is calculated, the value will be discounted by 90%, and that discounted value will be added to the balance sheet to represent the Net Present Value of resources before extraction.
“Management feels GEMZ is significantly undervalued. As of Q3 2023, the company only reported $14.1 million for owned resources, but this value is only a fraction of what the company owns. We feel the Net Present Value could exceed ten times that amount once resources are confirmed by an independent expert,” commented Clowater in an October 3 news release (https://nnw.fm/7f9WK ).
Looking ahead into 2024 and beyond, GEMXX is keen on maintaining its focus on expansion and adding shareholder value. The company intends to complete the 50% acquisition of the Yukon Gold Property and initiate a pilot mine on this site; upscale gold production at the Snow Creek Property and move the test plant to the Rosella Creek site; bring its Ammolite Gemstone mine into full production; and complete the S-K 1300 compliant resource reports on its existing assets. GEMXX also looks to complete audits to enable it to be quoted on the OTCQX, the first step to up-listing to a larger exchange like the NASDAQ or New York Stock Exchange.
Those interested in participating through Reg A financing are encouraged to visit the company’s investor page (https://nnw.fm/umXVl) or contact company officials for more information (ir@gemxx.com – 702-930-1815).
For more information, visit the company’s website at www.GEMXX.com/investors.
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://nnw.fm/GEMZ
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
