GEMXX Engages Aurora Geosciences to Enhance Asset Value and Verify Resource Volume
GEMXX Corporation, a prominent player in the Ammolite gemstone mine-to-market segment and a 50% partner in Canadian gold exploration company Crazy Horse Mining, Inc. (CHMI), has partnered with Aurora Geosciences to conduct S-K 1300 technical reports on four of its assets. These assets, including two gold reserves and two Ammolite gemstone claims, are currently not confirmed by an engineer report and are therefore not represented on the company's balance sheet. To accurately report the inferred mineral resources and determine their value, Aurora Geosciences will conduct surveys on each property. The results will be used to calculate the Net Present Value of the resources before extraction, with a 90% discount applied. GEMXX believes that the current value of its resources significantly undervalues the company and expects the Net Present Value to exceed ten times the reported amount once confirmed by an independent expert.
GOLD: Snow Creek Mine and Rosella Creek Property
In partnership with CHMI, GEMXX's Snow Creek gold mine has exceeded production expectations during the 2023 mining season. The gold reserves on Snow Creek and its neighboring property, Rosella Creek, will be added to the company's balance sheet once the value of the gold is confirmed by Aurora Geosciences. These properties have shown promising potential, and GEMXX is eager to represent their value accurately, contributing to increased shareholder value.
AMMOLITE GEMSTONE: Southern Claims
GEMXX's commitment to ongoing exploration led to the acquisition of an additional 217 acres of Ammolite gem-bearing property in Southern Alberta, Canada. While three core samples have confirmed the presence of two large gem-bearing shale formations, the resources on these properties are not yet confirmed by an independent engineer's report. GEMXX looks forward to working with Aurora Geosciences to validate the resources present on these properties and represent their value on the balance sheet, further enhancing shareholder value.
GEMXX's collaboration with Aurora Geosciences and the subsequent validation of resource volume and enhancement of asset value demonstrate the company's dedication to accurate reporting and maximizing the potential of its resources.
Hot Take: GEMXX's Strategic Move and its Potential Impact on New Businesses
GEMXX Corporation's recent partnership with Aurora Geosciences to enhance asset value and verify resource volume could potentially serve as a game-changer for new businesses in the mining sector. The move underscores the importance of accurate reporting and valuation of resources, which is often overlooked by emerging companies.
Accurate Valuation and Reporting
GEMXX's decision to conduct S-K 1300 technical reports on its assets, including gold reserves and Ammolite gemstone claims, underscores the importance of accurate resource valuation. This approach could inspire new businesses to invest in comprehensive surveys and reports, ensuring their assets are accurately represented on their balance sheets.
Maximizing Resource Potential
The company's strategy to calculate the Net Present Value of the resources before extraction, applying a 90% discount, highlights a strategic approach to resource management. This could encourage new businesses to adopt similar strategies, maximizing the potential of their resources and enhancing shareholder value.
Commitment to Exploration
GEMXX's commitment to ongoing exploration and acquisition of additional gem-bearing property demonstrates a proactive approach to growth. This could inspire new businesses to continuously seek out new opportunities, contributing to long-term success.
In conclusion, GEMXX's strategic partnership with Aurora Geosciences offers valuable insights for new businesses in the mining sector, emphasizing the importance of accurate resource valuation, strategic resource management, and commitment to exploration.