GEMXX (OTC: GEMZ), a leader in the ammolite gemstone mine-to-market segment and a 50% partner in Canadian gold-exploration company Crazy Horse Mining Inc. (“CHMI”), is partnering with Aurora Geosciences to complete S-K 1300 technical reports on four assets. According to the announcement, two of GEMXX’s gold reserves along with two of its largest ammolite gemstone claims have not yet confirmed by an engineer report. Because of that, while these properties are owned and operated by GEMXX, they are not reflected on the company’s balance sheet and no value has been recorded for the resources they contain. In order to accurately report inferred mineral resources that are owned but not represented on the balance sheet, GEMXX is working with Aurora Geosciences to perform surveys of each property; Aurora Geosciences specializes in producing independent third-party S-K 1300 technical reports that confirm resources. GEMXX noted that gold production during the 2023 mining season at Snow Creek Gold mine has exceeded expectations. GEMXX operates Snow Creek in partnership with CHMI. Once the value of the property’s gold has been confirmed, Snow Creek — along with neighboring property Rosella Creek — will be added to GEMXX’s balance sheet. The company also anticipates adding the value of its ammolite gem-bearing properties to the balance sheet. After Aurora Geosciences completes surveys on the GEMXX Southern Claims properties and verifies the resources in those locations, the company is confident shareholder value will increase when those assets are reflected on the balance sheet. “Management feels GEMZ is significantly undervalued,” said GEMXX president Richard Clowater in the press release. “As of Q3, 2023, the company only reported $14.1 million for owned resources, but this value is only a fraction of what the company owns. We feel the net present value could exceed 10 times that amount once resources are confirmed by an independent expert.”
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About GEMXX Corporation
GEMXX Corporation is a publicly traded, mine-to-market gemstone, gold 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 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.
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