Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Northern Vertex Mining Corp.
  6. News
  7. Summary
    NEE   CA6660061012

NORTHERN VERTEX MINING CORP.

(NEE)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensus 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Northern Vertex Mining : COMPLETES CONSTRUCTION OF POWERLINE AT MOSS GOLD MINE IN NW ARIZONA

09/17/2020 | 09:04am EDT

Vancouver - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the 'Company' is pleased to announce the early completion of its 6.9-mile electrical powerline project, with the system being energized on September 9 and the diesel generator bank shut down on September 10.

The Moss mine is now linked to the Mohave Electric power grid, and the Company is now beginning to realize numerous benefits, which include: Reduction of electrical costs from approximately $0.31 per kwh to a grid system cost $0.08 per kwh; Operational and maintenance savings of $15 to $20 million over the life of mine; Reduction in AISC of $50 per gold ounce and Significant environmental benefits by switching from diesel generators to grid power.

Kenneth Berry, President and CEO, stated: 'I am extremely proud of our team's achievements in building the Moss Mine into Arizona's largest pure gold and silver producer. The completion of the powerline and successful connection to the electrical grid further reduces our operating costs, improves reliability, and is a demonstration of Northern Vertex's commitment to sustainability by reducing our carbon footprint. Furthermore, the Company will continue with several cost savings initiatives which include: the successful transition to McCoy and Sons as our dedicated mining contractor; the completion of the Intermediate Leach System to accelerate gold recoveries and our on-going exploration success of recent drilling to establish the Moss Mine as a highly profitable, long-life operation.'

About Northern Vertex Mining Corp.

Northern Vertex Mining Corp. is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions, and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex's corporate goal is to become a mid-tier gold producer.

Contact:

Tel: 604-601-3656

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements about our future business and planned activities. These are 'forward-looking' because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about NORTHERN VERTEX MINING CORP.
06/11NORTHERN VERTEX MINING  : Resource Expansion Drilling Intersects 36.58 Meters Gr..
AQ
06/10Northern Vertex Mining Says Expansion Drilling at its Moss Mine Shows Widespr..
MT
05/26Northern Vertex Mining Says Expansion Drilling at Moss Mine Shows Additional ..
MT
05/24NORTHERN VERTEX MINING  : Reports revenue of us$16.4m financial results for quar..
AQ
05/19NORTHERN VERTEX MINING  : Intersects 28.96 meters grading 2.28 gt gold and 28.84..
AQ
05/18NORTHERN VERTEX MINING  : Intersects 28.96 Meters Grading 2.28 g/t Gold and 28.8..
PR
04/20Northern Vertex Mining Says Geophysical Survey Identifies Multiple Exploratio..
MT
04/19Northern Vertex Mining Down 6.8% on Weaker Quarterly Production From the Moss..
MT
04/19NORTHERN VERTEX MINING  : Reports Quarterly Production of 9,912 Gold Equivalent ..
PR
04/14NORTHERN VERTEX MINING  : Reports Fiscal Results for Six Months Ended December 3..
AQ
More news
Financials (USD)
Sales 2020 105 M - -
Net income 2020 -14,2 M - -
Net Debt 2020 13,2 M - -
P/E ratio 2020 -8,83x
Yield 2020 -
Capitalization 123 M 123 M -
EV / Sales 2019 2,84x
EV / Sales 2020 1,12x
Nbr of Employees 11
Free-Float 70,1%
Chart NORTHERN VERTEX MINING CORP.
Duration : Period :
Northern Vertex Mining Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 0,39 $
Last Close Price 0,32 $
Spread / Highest target 21,3%
Spread / Average Target 21,3%
Spread / Lowest Target 21,3%
Managers and Directors
NameTitle
Michael G. Allen President
David Splett Chief Financial Officer & Secretary
Douglas J. Hurst Chairman
David P. Farrell Independent Director
Kenneth E. Berry Director
Sector and Competitors
1st jan.Capitalization (M$)
NORTHERN VERTEX MINING CORP.-26.42%123
NEWMONT CORPORATION17.40%56 435
BARRICK GOLD CORPORATION-2.62%41 304
POLYUS-2.16%27 905
WHEATON PRECIOUS METALS CORP.9.73%21 591
NEWCREST MINING LIMITED9.89%17 781