Business
New Jersey Mining Company Provides President's Letter - Including a Q2 Update, Operational Additions and Plans for Increased Production & Resource Delineation
COEUR D'ALENE, ID / ACCESSWIRE / August 4, 2020 / New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") is pleased to distribute this President's Let
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, ID / ACCESSWIRE / August 4, 2020 / New Jersey Mining Company (OTCQB:NJMC) (\"NJMC\" or the \"Company\") is pleased to distribute this President's Letter to Shareholders, which includes an update on 2nd quarter operations and future plans, from NJMC President & CEO John Swallow: It is our belief that the current backdrop is evolving into a predictable (and largely unavoidable) fiscal and generational-based reality. Structural issues with the dollar, reserve currency status, the long-term debt cycle, critical minerals and China, and other important topics - have greatly accelerated the pace toward where-ever it is that we were already headed. While we do not believe that the global pandemic itself will remain as intense of a focus over the long-term, we firmly believe that past and present policies, and the consequences from those policies, will remain with us for the foreseeable future. At the mine and mill we often discuss how \"gold makes you earn it\". And short of spiking the ball on the 5-yard line, we view gold passing the $1,900/oz level as a welcome reward for the diligence, hard work and dedication of our employees and long-time supporters. The company was built around $1,200/oz gold and the combined viewpoints and collective experience of a team possessing more (hands-on) local exploration and mining knowledge than any other group on the planet. And as we discussed in our February press release; in addition to our \"production-based\" approach to district consolidation and exploration longevity, it is our longstanding opinion that prudent portfolio management dictates having 5-10% exposure to gold and other hard assets… and that NJMC was purposely positioned to be a more reasonable candidate for the portion of a person's 5-10% hard-asset allocation targeted at the (revenue-supported) blue sky of discovery. After the 3-year long process of consolidating the Murray Gold Belt announced in February, our focus logically turned toward increased production and mineable resource delineation (see Current Plans/Future Goals below). In the midst of our corporate adjustments to the global pandemic and addition of critical minerals assets in May, in the 2nd quarter we took the opportunity to prepare the base for the second half of the year and beyond. A second underground crew will join the team in mid-August so ...