GEMXX (OTC: GEMZ), a leader in the ammolite gemstone mine-to-market segment, continues to make progress in its assessments quantifying the proven and potential gold resources on the Yukon Gold property. Currently GEMXX is working closely with the project’s current owners to implement a work plan calling for a pilot mine as soon as weather permits in 2024. With that in mind, the company announced that the closing deadline in the original letter of intent (“LOI”) has been extended. The company believes that the project represents a valuable asset and a return on investment (“ROI”) with proven resources of 2.2 million ounces of gold. According to the announcement, taking current and forecasted market value of gold into consideration, the project positions the company with an estimated $1 million in revenue, reflecting a robust future revenue stream.
In addition, the project may be a source for rare earth elements and other minerals. GEMXX is evaluating data provided by the current owner to determine the potential for commercial viability for other minerals found on the property. “We are happy to take this project to the next level by detailing the work plan,” said GEMXX CEO Jay Maull in the press release. “This one-year initiative will further prove the commercial viability of the property and will lay the groundwork for full-scale 2025 operations. As we approach 2024, various financial analysts and organizations have offered diverse predictions regarding gold prices. The World Gold Council suggests that gold may experience new all-time highs in 2024, aligning with analysts’ projections of gold prices reaching or exceeding $2,500 per ounce. This bullish trend is further supported by expectations of the Federal Reserve cutting rates, potentially leading to gold prices hitting fresh highs.”
To view the full press release, visit https://ibn.fm/lWyZP
About GEMXX Corporation
GEMXX is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution. GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The company’s world-class gemstone cutters and jewelry designers are continuously leading the ammolite industry in new and exciting directions. The company’s management team is made up of the industry’s leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience. For more information about this company, please visit www.GEMXX.com.
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://ibn.fm/GEMZ
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