American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as the Pretivm and Seabridge’s KSM deposits.
Global gold-backed exchange-traded funds (ETFs) and similar products had $19.2 billion or 400 tonnes of net inflows in 2019 after holdings rebounded in December, the World Gold Council (WGC) reports. In the fourth quarter, ETF holdings reached an all-time high of 2,900 tonnes.
Overall, gold-backed assets under management (AUM) grew by 37% in dollar terms during the year owing to positive demand and an 18.4% increase in the gold price.
From a regional perspective, North American funds led the way with inflows of 206 tonnes ($10.1 billion, 14.4% AUM). SPDR Gold Shares – the world’s biggest gold ETF—and iShares Gold Trust accounted for nearly half of last year’s inflows.
Low-cost gold-backed ETFs in the US have seen positive flows for 18 of the past 19 months and increased their collective holdings by 60%, according to the latest WGC data.
Elsewhere, holdings in European funds increased by 188 tonnes ($8.8 billion, 13.6%), while funds listed in Asia were nearly flat, recording an outflow of 0.1 tonnes ($12 million, 0.3%). The remaining regions had combined inflows of 6.3 tonnes ($311 million, 16.3%).
Looking ahead, WGC analysts said that they expect investor demand to remain robust through 2020.
“The strength of gold was mainly the byproduct of a dovish shift in monetary policy. Our research indicates that a shift from a hawkish or neutral stance to a dovish one has historically led gold to outperform,†a WGC analyst said.
About American Creek
American Creek is a Canadian mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific “Golden Triangleâ€; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
More information about the Treaty Creek Project can be found here: https://americancreek.com/index.php/projects/treaty-creek/home
An exploration program is ongoing on American Creek’s 100% owned Dunwell Mine property located near Stewart. More information can be found here: https://americancreek.com/index.php/projects/dunwell-mine
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Source: https://www.mining.com/gold-backed-etf-holdings-grew-14-in-2019/
Tags: #BC, #BruceJack, #copper, #Discovery, #Drilling, #goldentriangle, #HighGrade, #KenKonkin, #Mine, #Ounces, #SII, #sprott, #TUD, $AMK, $SEA, 2020