- CMX Gold & Silver is an exploration and development mining company focused on revitalizing a past-producing mine to benefit from known mineralizations and existing infrastructure.
- The Clayton Silver Project has historically produced over two million tonnes of ore, and a stockpile of 500,000 tonnes of rock remains on the property.
- The previous miners operated for 50 years and followed a main vein system, which was sufficient for their goals. However, CMX believes other vein systems are present that will create additional opportunities.
- A strong management team with decades of experience in the mining industry builds confidence for the project and the team’s ability to capitalize on the flagship asset.
Exploring undeveloped land with the hopes of striking gold is a time-honored mining tradition, but it’s not the only way to create a profitable project. Restarting past-producing mines allows companies to start with proven mineralization, explore stockpile potential and utilize the existing infrastructure. In addition, stockpiles create a fast track to cash flow, as the previous miners may have had different criteria based on the economics of their time. For example, gold mines often stockpiled gold under a specific grade as it was not economically feasible, but given current prices and modern processing technology, it’s now worth processing the stockpiled gold and silver.
Restarting a past-producing mine begins by selecting the proper jurisdiction. Idaho, for instance, has mining-friendly policies that include tax incentives to create rural jobs. The gold rush of the 1800s led to the creation of the state. For example, the famous Silver City was founded near prolific silver and gold deposits. Mining policies in the state are focused on enabling ease of mining operations, both procedurally and practically.CMX Gold & Silver (CSE:CXC,OTC:CXXMF) is an exploration and development mining company, focused on Idaho's historic gold and silver assets. The company’s flagship project is the Clayton Silver Mine, a past-producing asset that operated for 50 years and has historically mined over two million tonnes of ore. The project also has a stockpile of at least 500,000 tonnes of rock. The company has a strong capital structure with no legacy or sweat equity debt. Additionally, the project has no royalties and plans to generate cash flow in 2023 by processing the stockpile.