Mineral Mountain Resources Ltd (OTCMKTS:MNRLF) Stock Falls Despite New Strategic Plans

Mineral Mountain Resources Ltd (OTCMKTS:MNRLF) on May 12, 2023, announced on having discussions underway with potential new management, with a track record of numerous gold discoveries. The team is presently reviewing personnel, finance, and exploration strategies.

Trading Data

On Friday, MNRLF stock ended flat at $0.0598 with more than 5K shares traded, compared to volume of 10.72K shares. The stock moved within a range of $0.0598 – 0.0598 after opening trading at $0.0598.

Mineral Mountain to Announce New Strategic Plans to Aggressively Advance Its Rochford Gold Project and the Closing of First Tranche Financing

Additionally, the team has met with the board and shown having capabilities from board level to technical expertise as well as back office. The firm also announced closing the first tranche of a non-brokered private placement, subject to the filing of final documentation by TSX Venture Exchange. This was previously announced on March 1, 2023, and the firm has issued 3,657,510 units at a price of C$0.10 per Unit to raise gross proceeds of C$365,751.

Each Warrant would be exercisable for one share at a price of CDN$0.25 per Share for a time of a year from the date of issuance. Further, a finder’s fee of 7% was given to arm’s length third parties on a part of the Private Placement.The firm is intending to harness the proceeds specifically for a 9,000 m drill program on Standby Property in the Rochford District of South Dakota, USA.

Nelson W. Baker, President and CEO said that the fresh management team has the perfect compliment of global discovery experience and will give the company the much-needed finance for advancing the novel Rochford Gold Project.