Posted by AGORACOM
at 11:48 AM on Wednesday, July 31st, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Expectations are the Fed will cut rates by 25 basis points
Falling interest rates make metals more attractive
Tie in bullish technicals with a clueless Fed and we should see higher gold and silver prices.
Yesterday we wrote that gold and silver would probably be quiet and
flat until after the Fed reported on Wednesday. It now looks like the
metals are trying to get a jump on the Fed and have started to rally
early.
Friday saw gold
trade as low as $1,412 and suddenly the metal is back over $1,440.
There was a late-day rally Monday with some early morning follow-through
today. The key to watch in gold is the $1,450 level, since a close
above would signal $1,500 is not far behind. Silver looks like it wants to join the rally and push through $17.
Expectations are the Fed will cut rates by 25 basis points; that
would be bullish for the metals. Falling interest rates make metals more
attractive. Tie in bullish technicals with a clueless Fed and we should
see higher gold and silver prices.
Posted by AGORACOM-JC
at 8:31 AM on Wednesday, July 31st, 2019
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169% from the third quarter and down 24% from the 4,695 ounces produced last year.
The increase was attributable to a rise in the production rate at the Camflo mill and the Beaufor mine combined with a higher grade of ore.
MONTREAL, July 31, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report its production and corporate highlights for the fourth quarter ended June 30, 2019. Amounts are in Canadian dollars unless otherwise indicated.
Production highlights
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169%
from the third quarter and down 24% from the 4,695 ounces produced last
year. The increase was attributable to a rise in the production rate at
the Camflo mill and the Beaufor mine combined with a higher grade of
ore.
The Corporation recorded revenues of $7.3 million in the fourth quarter from the sale of 2,666 ounces of gold at an average price of $1,764 per ounce (US $1,333)
plus custom milling revenue, which was down 3.1% from the third quarter
due to an increase in the tonnage milled from the Beaufor mine.
As at June 30, 2019, the Corporation had more than 1,100 ounces of gold in inventory.
“This was a solid quarter in terms of performance, especially given
that we operated with approximately one-third the workforce we had last
year,” said Jean-Marc Lacoste, President and Chief
Executive Officer of Monarch. “This quarter also marks the suspension of
our production activities at the Beaufor mine during the quarter, as of
June 27, 2019, and at the Camflo mill on July 10, 2019.
Given the current gold environment, our team is focusing on identifying
new exploration targets at the Beaufor mine and preparing a drilling
program on the most promising targets, while Camflo is currently
undergoing maintenance work that should take place over a 90-day
period.”
“Despite the fact that we have suspended our production activities,
Monarch is in an excellent position to benefit from the current upward
trend in gold prices. The Corporation has a large portfolio of
high-quality mining assets that include two mills, six advanced gold
projects with total measured and indicated resources of more than
3.1 million ounces of gold (see table at the end of this press release),
a 14.2% interest in Unigold (TSXV: UGD), as well as a strong financial
position. Our goal in the coming quarters will be to develop our
flagship Wasamac project, which has an annual production potential of
142,000 ounces of gold over 11 years (see press release dated December 3, 2018), and to increase the value of our assets through partnerships and other transactions.”
Production statistics
Three months ended June 30, 2019
Three months ended June 30, 2018
Twelve months ended June 30, 2019
Twelve months ended June 30, 2018
Beaufor mine
Ore processed (tonnes)
27,648
30,523
96,212
98,394
Gold recovery (%)
98.24
98.70
98.17
98.76
Ounces produced
3,572
4,695
13,225
15,071
Ounces sold
2,666
4,589
12,534
14,856
Corporate highlights
On May 9, 2019, the Corporation acquired a block of 6.5 million shares of Unigold Inc. (TSXV: UGD) from an investor at an agreed price of $0.115 per share, for a total of $747,500, payable by the issuance of 3.25 million common shares of the Corporation at an agreed price of $0.23 each (see press release).
On June 18, 2019, the Corporation announced the
signature of binding letters of intent for the acquisition of an
aggregate 100% interest in the Fayolle property from Hecla Quebec Inc.,
formerly known as Aurizon Mines Ltd. (NYSE: HL), and Typhoon Exploration
Inc. (TSXV: TYP) (see press release).
On June 19, 2019, the Corporation announced that its
wholly-owned subsidiary Louvem Mines Inc. had sold a 2% net smelter
return (“NSR”) royalty on certain claims of the Chimo Mine property to
Cartier Resources Inc. (TSXV: ECR) in consideration of a cash payment of
$350,000 (see press release).
On July 25, 2019, the Corporation sold its portfolio of
net smelter return (“NSR”) royalties on the Chimo property (owned by
Chalice Gold Mines Ltd) for a cash payment of $350,000.
Monarch held a portfolio of NSR royalties ranging from 0.50% to 2.50% on
the Chimo property, which surrounds the Chimo Mine property.
Monarch Gold Corporation (TSX: MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Croinor Gold (see video), McKenzie Break, Beaufor and Swanson
advanced projects and the Camflo and Beacon mills, as well as other
promising exploration projects. It also offers custom milling services
out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause
Monarch’s actual results, performance and achievements to be materially
different from the results, performance or achievements expressed or
implied therein. Neither TSX nor its Regulation Services Provider (as
that term is defined in the policies of the TSX accepts responsibility
for the adequacy or accuracy of this press release.
2 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
3 Source: NI 43â€101 Technical Report on the Swanson Project,
June 20, 2018, Christine Beausoleil, P.Geo., and Alain Carrier, P.Geo.,
M.Sc., of InnovExplo Inc.
4 Source: NI 43â€101 Technical Report on the McKenzie Break
Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel
Gaudreault, Eng., of Geologica Groupe-Conseil Inc. and Christian
D’Amours, P.Geo., of GeoPointCom Inc.
Tags: #mining, #Resources, CSE, gold, stocks, tsx, tsx-v Posted in Monarques Gold | Comments Off on Monarch Gold $MQR.ca Produces 3,572 Ounces of Gold and Generates $7.3 Million in Revenue in the Fourth Quarter $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX
Posted by AGORACOM-JC
at 10:55 AM on Tuesday, July 30th, 2019
AMK:TSX-V
780 Meter Intercept of 0.683 g/t Gold;
Including a higher grade upper portion of 1.095 g/t over 370.5 meters in new hole at Treaty Creek
Results prompting mobilization of second drill to project
Darren Blaney, President and CEO of American Creek, commented: “This is very encouraging as we have our best hole to date at Treaty. Furthermore, in addition to a major extension of the system to the northeast, we are now seeing some high grade gold, silver and base metals showing up in the core. I congratulate Mr. Konkin on delivering the goods. Well done!”
Cardston, Alberta–(July 30, 2019) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) (“American Creek”) is pleased to announce results from the first three diamond drill holes at the Goldstorm Zone on the Treaty Creek Joint Venture project, located in the Golden Triangle of NW British Columbia. In light of the favourable results obtained during phase one drilling, a second drill has arrived on-site and has begun drilling for the phase two portion of the program.
Tudor Gold Exploration Manager, Ken Konkin explains:
“The Goldstorm system continues to grow rapidly along strike to the
northeast and towards the footwall contact zone to the southeast. The
best near-surface intercept obtained to-date on the project has been
obtained from the latest hole; GS19-42. This is a vertical hole that is a
150m step-out to the northeast from drill hole CB18-39 (0.981g/t Au
over 563.8m intercept). The higher grade upper portion of last year’s
hole CB18-39 averaged 1.141 g/t Au over 280.5m compared to the same
upper mineralized horizon of GS19-42 that averages 1.268 g/t Au over a
252.0 m intercept. The system appears to be gaining strength to the
northeast as the depth is now showing to exceed 700m, with an average of
0.683 g/t Au over 780 meters of vertical intercept. The mineralized
horizon appear to be near flat-lying with excellent grade consistency
between holes along the upper horizon. Exploration efforts will attempt
to extend the zone further to the northeast with yet another 150m NE
step-out hole from GS19-42.”
Drill holes GS19-40 and GS19-41, were successful in locating the
footwall contact zone, which is a very fine-grained strongly silicified
volcanic unit. Furthermore, porphyritic intrusive was also encountered
at the base of GS19-40, and within GS19-41 that returned anomalous
copper and molybdenum values. As well, a strong silver-bearing
base-metal system has been seen for the first time in the northernmost
hole (GS19-42), within the upper mineralized horizon. Values of 33.51
g/t Au, 1,154 g/t Ag, 2.89% Cu, 5.96% Pb and 1.89% Zn were returned over
a 1.5 meter interval from 209.5 m to 211.0 m was a pleasant surprise in
the last hole GS19-42.
The following table provides gold composites from the Goldstorm Zone in the first three 2019 drill holes completed:
Table I: Gold Composites for GS19-42, 41 and 40
SECTION
HOLE ID
FROM M
TO M
Interval (M)
GOLD (gpt)
112+50NE
GS19-42
63.5
843.5
780
0.683
including
63.5
315.5
252
1.268
including
63.5
434
370.5
1.095
108+00NE
GS19-41
27.5
353
325
0.589
including
47
146
99
1.015
GS19-40
23
350
327
0.443
including
81.5
127
45.5
0.907
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
Goldstorm Zone Drill Sections 108+00 NE and
112+50 NE and Goldstorm Zone Plan Map are included at the bottom of the
news release.
Walter Storm, President and CEO of Tudor Gold, stated:
“I am delighted to see that the Goldstorm Zone has been expanded for
another 150 meters with this step out drill-hole 42. I am looking
forward to potentially expanding the Goldstorm zone again with another
150 meter step out drill-hole, which has started with our second drill.”
Darren Blaney, President and CEO of American Creek, commented:
“This is very encouraging as we have our best hole to date at Treaty.
Furthermore, in addition to a major extension of the system to the
northeast, we are now seeing some high grade gold, silver and base
metals showing up in the core. I congratulate Mr. Konkin on delivering
the goods. Well done!”
QA/QC
Drill core samples were prepared at MSA
Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’
Geochemical Laboratory in Langley, BC. Analytical accuracy and precision
are monitored by the submission of blanks, certified standards and
duplicate samples inserted at regular intervals into the sample stream
by Tudor Gold personnel. MSA Laboratories quality system complies with
the requirements for the International Standards ISO 17025 and ISO 9001.
Qualified Person
The Qualified Person for this news release
for the purposes of National Instrument 43-101 is Tudor Gold’s
Exploration Manager, Ken Konkin, P.Geo. He has read and approved the
scientific and technical information that forms the basis for the
disclosure contained in this news release.
About American Creek
American Creek is a Canadian junior 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 Triangle”; the Treaty Creek and Electrum joint
venture projects with Tudor Gold/Walter Storm as well as the 100% owned
past producing Dunwell Mine.
The Treaty Creek Project is a Joint Venture
with Tudor Gold owning 60% and acting as operator. American Creek and
Teuton Resources each have 20% interests in the project. American Creek
and Teuton are both fully carried until such time as a Production Notice
is issued, at which time they are required to contribute their
respective 20% share of development costs. Until such time, Tudor is
required to fund all exploration and development costs while both
American Creek and Teuton have “free rides”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a
significant gold resource.
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.
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Tags: #mining, gold, Seabridge Gold, stocks, tsx, tsx-v Posted in American Creek Resources Ltd., Featured | Comments Off on American Creek $AMK.ca Reports 780m Intercept of 0.683 g/t #Gold Including a Higher Grade Upper Portion of 1.095 g/t over 370.5m in New Hole at Treaty Creek Prompting Mobilization of Second Drill to Project $SII.ca $SA $SKE.ca $TUD.ca $PVG.ca $MRO.ca $NGT.ca $SPMT.ca $GTT.ca$III.ca $GGI.ca
Posted by AGORACOM
at 8:49 PM on Monday, July 29th, 2019
Eric Sprott enters strategic Investment with AMK for 20 Million Shares
Mr. Sprott has agreed to sign a voting agreement in which he will vote with management in the event of a hostile takeover bid
Will also vote with management if management agrees to accept a takeover bid.
Cardston, Alberta–(Newsfile Corp. – July 29, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“the Corporation”) (“American Creek”) today announced that
it intends to complete a non-brokered private placement with Eric
Sprott’s private company, 2176423 Ontario Ltd. consisting of the
issuance of 20,000,000 units (“Units”) at a price of $0.05 per Unit for
proceeds of $1,000,000.
Each Unit will consist of one common share
of the Corporation (“Common Share”) and one non-transferrable Common
Share purchase warrant (“Warrant”). Each Warrant may be exercised for
one additional Common Share at a price of $0.065 for a period of 24
months from the closing date of the Offering. The Warrants will be
subject to an acceleration provision which provides that in the event
that the market closing price of the Corporation’s shares exceeds $0.12
for 30 consecutive days, the Corporation may within 5 days after such an
event, provide notice to the Warrant holder of early expiry and
thereafter, the Warrants will expire on the date which is 15 days after
the date of the notice to the Warrant holder.
As part of this
financing and the issuing of the Units, Mr. Sprott has agreed to sign a
voting agreement in which he will vote with management in the event of a
hostile takeover bid, and to also vote with management if management
agrees to accept a takeover bid.
Darren Blaney, President &
CEO of American Creek, stated: “We welcome Mr. Sprott’s involvement and
significant contribution. This is an endorsement of not only the
potential of the Treaty Creek project but also of our other projects
we’ve been able to successfully acquire. With Mr. Sprott’s support and
with market conditions improving, we very much look forward to working
together to advance these projects and create additional value for our
shareholders.”
The securities are offered to qualified
purchasers in reliance upon exemptions from prospectus and registration
requirements of applicable securities legislation. No finder’s fees will
be paid related to this financing.
Proceeds will be used for
general operating purposes including settling current debt and advancing
the Corporation’s portfolio of mineral properties.
This private placement is subject to approval by the TSX Venture Exchange.
About American Creek
American
Creek is a Canadian junior 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 Triangle”; the
Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter
Storm as well as the 100% owned past producing Dunwell Mine.
The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator. American Creek and Teuton Resources each have 20%
interests in the project. American Creek and Teuton are both fully
carried until such time as a Production Notice is issued, at which time
they are required to contribute their respective 20% share of
development costs. Until such time, Tudor is required to fund all
exploration and development costs while both American Creek and Teuton
have “free rides”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a significant
gold resource.
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
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Posted by AGORACOM
at 10:10 AM on Monday, July 29th, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining
AAX.v
Caution ahead of this week’s U.S. Federal Reserve meeting, with investors likely to look beyond an expected rate cut
Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move.
Gold was little changed on Monday as caution set
in ahead of this week’s U.S. Federal Reserve meeting, with investors
likely to look beyond an expected rate cut to the central bank’s
guidance on monetary policy for the rest of the year.
“A rate cut is entirely priced in while a 50 basis points cut is
extremely unlikely. So guidance becomes absolutely key,†OANDA senior
market analyst Craig Erlam said.
â€(Gold’s movement) will depend
on how dovish or how far ajar Jerome Powell leaves the door on these
rate cuts in the months ahead.â€
For the first time since the
financial crisis, the Fed is expected to trim the key interest rate by
at least 25 basis points (bps) at its July 30-31 meeting. Investors will
also look for signals of likely additional cuts in the pipeline.
“Much will also depend on what Fed Chair Powell says in the subsequent
press conference: if he makes no mention of a cycle of rate cuts,
causing gold to come under pressure, we would not see this as a trend
reversal but as an attractive buying opportunity,†analysts at
Commerzbank said in a note.
Interest rate futures are fully priced
for a quarter-point rate cut from the Fed on Wednesday, with only a
small chance of a half-point move.
Traders
will also keep a close eye on the U.S. and Chinese trade talks in
Shanghai this week, as negotiators from both countries meet for their
first in-person talks since a truce at G20 last month. Expectations are
low for a breakthrough.
On the technical front, $1,400 will be the key downside support for gold, and beyond that, $1,380, OANDA’s Erlam said.
“Bulls are very reluctant to let go just yet, but if we do see those
levels break, we might see gold bulls head for the exits quite quickly.â€
Hedge
funds and money managers reduced their bullish stance in COMEX gold in
the week to July 23, the U.S. Commodity Futures Trading Commission
(CFTC) said in a report on Friday.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 818.14 tonnes on Friday.
Among other precious metals, silver dipped 0.1% to $16.37 per ounce.
Palladium fell 0.3% to $1,530.38 per ounce, while platinum gained 0.8% to $867.26 per ounce.
Posted by AGORACOM
at 9:33 AM on Wednesday, July 24th, 2019
Drilling at the C.O.D. North vein – 421m has been drilled in 7 holes
1,965m drilled in 32 holes on the main COD vein – Assays Due
Drill testing “Anomaly” at depths between 500 and 800 metres
The anomaly is interpreted as a pipe-like structure measuring 1834 by 1377m
VANCOUVER, BC / ACCESSWIRE / July 24, 2019 / GGX
Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company†or
“GGXâ€) provides the following update on its exploration activities at
its Gold Drop property in the Greenwood Mining Camp.
Drilling resumed as of July 16 at the C.O.D. North vein. As of July
22, a total of 421 metres has been drilled in 7 holes on the COD North,
in addition to the total of 1,965 metres drilled in 32 holes on the main
COD vein. An initial batch of samples was submitted for analyses in
late June, but assays have not yet been received.
Preparations are also underway to drill a relatively deep hole on a
geophysical anomaly (refer to news release dated July 4). Drill rods and
bits have been purchased and a night shift drill crew has been
arranged. The drill site has been selected and verified by a
representative for Earth Science Services Corporation of Oshawa, Ontario
(ESSCO). The initial hole is planned to be drilled to test the target
zone at depths between 500 and 800 metres. The anomaly is interpreted as
a pipe-like structure that measures 1834 by 1377 metres.
The Company also announces that it has repriced the flow through
portion of its private placement originally announced on June 18, 2019.
The non brokered private placement will now be an offering of up to
4,000,000 flow through units at a price of Cdn$0.25 per unit for gross
proceeds of $1,000,000. Each flow-through unit will comprise one common
share (which is a flow-through share for Canadian income tax purposes)
and one-half share purchase warrant. Each whole flow-through warrant
will entitle the holder to purchase one additional common share which is
not a flow-through share at the price of $0.35 for 18 months after
closing. The term of the warrants may be accelerated in the event that
the issuer’s shares trade at or above a price of $0.40 cents per share
for a period of 10 consecutive days. In such case of accelerated
warrants, the issuer may give notice, in writing or by way of news
release, to the subscribers that the warrants will expire 20 days from
the date of providing such notice. The proceeds of the private placement
will be used for continued exploration work including diamond drilling
and trenching at the Company’s Gold Drop property near Greenwood in
Southern British Columbia.
The terms of the non-flow through placement remain as announced on June 18, 2019.
A finder’s fee may be paid to eligible finders in accordance to the
TSX-V policies. All securities issued pursuant to the offering will be
subject to a hold period of four months and one day from the date of
closing. The offerings and payment of finders’ fees are both subject to
approval by the TSX-V.
David Martin, P.Geo., a Qualified Person as defined by National
Instrument 43-101 and consultant to the Company, approved the technical
information in this release.
On Behalf of the Board of Directors George Sookochoff, President, 604-488-3900 [email protected]
Posted by AGORACOM
at 11:06 AM on Tuesday, July 23rd, 2019
SPONSOR: Great Atlantic Resources. A Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold. Click Here for More Info
GR: TSX-V
Next level for gold is $1500
Ray Dalio, Billionaire hedge fund manager pro gold
Potential interest rate cuts gold positive
Now that gold has broken through the $1,450 an ounce level, a six-high year high, the next big test is $1,500. And as I’ve said before, it can do this in the blink of an eye under the right conditions.
We may end up seeing those conditions emerge sooner rather than later.
Last Thursday, Federal Reserve Bank of New York President John
Williams seemed to indicate that a rate cut could be expected later this
month, saying that central bankers need to “act quickly†as economic
growth cools. Although he later clarified his comment, claiming he was
simply citing research and not forecasting central bank action, the
price of gold jumped as much as 2 percent on the news before closing
above $1,440 for the first time since May 2013.
Investors took some profits last Friday, knocking the price down
around 1 percent after gold started to look overbought a day earlier.
The metal was up two standard deviations over the past 60 trading days,
its highest level since April 2016. I would consider each pullback such
as this a buying opportunity, though, because I believe the best is yet
to come for the metal.
Gold Price Up Two Standard Deviations
U.S. Global Investors
Ray Dalio seems to agree. In a lengthy post on LinkedIn—Dalio’s
favorite platform for getting the word out—the billionaire hedge fund
manager writes that he thinks we’re on the verge of a new economic
paradigm shift and that central banks’ accommodative policies, from low
rates to quantitative easing (QE), are unsustainable. To hedge against
this, Dalio says, “I believe that it would be both risk-reducing and
return-enhancing to consider adding gold to one’s portfolio.†Most
investors are underweighted in gold, “meaning that if they just wanted
to have a better balanced portfolio to reduce risk, they would have more
of this sort of asset,†he writes.
A Monster Rally for Juniors
Select junior and micro-cap gold and precious metal miners also
posted very strong growth over the past week, mostly on positive
drilling results. In a press release dated July 15, Brixton Metals
announced encouraging results at its wholly owned Thorn
Gold-Copper-Silver Project in British Columbia. Gary Thompson, chairman
and CEO of the Vancouver-based explorer and developer, said that Brixton
“continues to unlock a mountain of value†at the property, which
exhibits even greater mineralization than was previously thought.
Junior Miners Had a Strong Week
U.S. Global Investors
As for silver, I’m pleased to see that it’s finally playing “catch
up†to gold, its price having hit a 52-week high after an incredible six
straight days of gains.
Silver Is Trying to Narrow Its Gap With Gold
U.S. Global Investors
The Bullish Calls on Gold Continue
With gold having already broken out of its five-year trading range, is the best still yet to come?
I believe it is. And I’m not alone. Read what some analysts and strategists have to say:
Alpine Macro
“The Fed is getting ready to cut interest rates, which should set in
motion a multi-year bear market in the dollar,†write analysts at Alpine
Macro in a research note dated June 28. A weaker U.S. dollar is one of
three “key ingredients†for a bull market, according to Alpine Macro,
the other two being a more accommodative Fed and rising geopolitical
risks.
“The technical break above $1,400 an ounce is a positive sign,†the
firm adds. “New all-time highs for gold should be seen in the coming
years.â€
World Gold Council (WGC)
“The prospect of lower interest rates should support gold investment
demand,†the World Gold Council (WGC) says in its mid-year outlook. “Our
research indicates that the gold price was higher in the 12 months
following the end of a tightening cycle. Moreover, historical gold
returns are more than twice their long-term average during periods of
negative real rates—like the one we are likely to see later this year.â€
Canadian Imperial Bank of Commerce (CIBC)
“We continue to see no signs of rate hikes on the horizon over the
next several years, and historically have seen gold continue on an
upward trajectory beyond the last rate cut,†writes CIBC in a note dated
July 14.
The bank points out that in two previous gold bull market cycles—in
the 1970s and 2000s—negative real rates were the main contributing
factor.
“During the last two major periods when real rates stayed below the 2
percent level and actually ticked into negative territory, the gold
price moved over 320 percent in the 1970s… and approximately 400 percent
from 2004 to peak in 2011.â€
For full disclosures pertaining to this post click here.
Posted by AGORACOM
at 7:30 PM on Tuesday, July 16th, 2019
Barrick Gold Corporation’s offer for Acacia Mining PLC under review by Independent Mining Consultants
Arguing Acacia is worth 38% more than Barrick’s offer
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia Exploration Kenya Ltd. (“Acaciaâ€) has 85.47% equity in the
Kakamega Project, which comprises the Rosterman, Burkura, and Sigalagala
Projects in Kenya, East Africa.
Rosterman SL267: The most northerly of the three
licences hosts the historic Rosterman mine, which is reported to have
produced in excess of 250,000oz Au at average grade in excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
and the Venaditas project in Zacatecas state. Advance Gold also holds a
14.63% interest in the Kakamega project held by Acacia Mining (63% owned
by Barrick Gold Corporation)
Posted by AGORACOM
at 7:35 AM on Thursday, July 4th, 2019
Drilling a high priority geophysical target at its Gold Drop property in the Greenwood Mining Camp.
Stargate II (SG II) Drill Target Modeling System incorporates Acoustic EM analysis, technology that was developed by Earth Science Services Corporation
SG II employs an enhanced, deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey.
VANCOUVER, BC / ACCESSWIRE / July 4, 2019 / GGX Gold
Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or
“GGX”) announces that it is planning to drill a high priority
geophysical target at its Gold Drop property in the Greenwood Mining
Camp.
The proprietary Stargate II (SG II) Drill Target Modeling System incorporates Acoustic EM
analysis, technology that was developed by Earth Science Services
Corporation of Oshawa, Ontario (ESSCO). SG II employs an enhanced,
deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical
survey.
The system is in developmental / pre-commercial stage and as such the effectiveness of this technique is not fully known to GGX.
Stargate
II surveys were performed by ESSCO over the Republic Graben trend in
Washington and B.C. in 2014/2015 at 1 km and 500 metre line spacings. A
resultant geophysical anomaly on the Gold Drop property in the Greenwood
Mining Camp was supplied by Glenn Galata of ESSCO. The anomaly measures
1834 by 1377 metres, is centered at the intersection of three
interpreted major fault conduit structural traces and is located along
strike and to the north of the C.O.D. vein trend. Testing the target
will require drilling to a depth of at least 400 and up to 764 metres –
the deepest ever to be drilled on the Gold Drop property.
Stargate II Anomaly Map:
The
anomaly is located at the intersection of corridors identified as
“conduit-fault-structural traces”. Two of these are coincident with the
trend of the C.O.D. vein system and a probable NW-trending cross-fault.
The correlation of anomaly corridors with known geological features
provides some confidence in the result.
GGX is excited to have
the opportunity to engage this new technology with a drill test planned
in the coming weeks. If successful, the test at the Gold Drop property
could result in the discovery of a new gold deposit or even a new gold
deposit type. It could also lead to further investigations utilizing the
new geophysical technique in other areas of the Greenwood Mining Camp.
View the Video at GGXGOLD
David
Martin, P.Geo., a Qualified Person as defined by National Instrument
43-101 and consultant to the Company, approved the technical information
in this release.
Mr. Glenn Galata, of Earth Science Services
Corporation of Oshawa Ontario, reviewed the information in this release
pertaining to the Stargate II geophysical system and ESSCO.
Posted by AGORACOM
at 10:46 AM on Thursday, June 27th, 2019
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