According to Goldman Sachs, gold could move even higher, potentially to $2,700 this year. All thanks to safe haven demand, considerable interest from global central banks, and conflict in the Middle East. All of which is a. solid catalyst for companies such as Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Royal Gold Inc. (NASDAQ: RGLD), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Newmont Corp. (NYSE: NEM) (TSX: NGT).
Helping, central bank buying isn’t showing any signs of cooling off, with China buying even more for the seventeenth month in a row, says The Wall Street Journal. All of which is fueling speculation over the potential devaluation on the yuan, “amid geopolitical concerns over heightened aggression with Taiwan.”
Look at Calibre Mining, A Growing Gold Producer (TSX: CXB) (OTCQX: CXBMF)
Calibre Mining Corp. just announced drill results from its 2023 resource conversion and expansion program within its 176 km2 Eastern Borosi Mine Complex. adjacent to a larger, 100%-owned, prolific 7,281 km2 Atlantic Mineral Concession package.
Gold highlights from the Eastern Borosi drill program
- 6.87 g/t Au over 7.0 metres Estimated True Width including 19.80 g/t Au over 1.1 metres ETW and 6.08 g/t Au over 3.8 metres ETW in Hole BL-23-118;
- 5.72 g/t Au over 8.9 metres ETW including 8.21 g/t Au over 4.8 metres ETW and 7.50 g/t Au over 1.3 metres ETW in Hole BL-23-131;
- 8.46 g/t Au over 5.8 metres ETW including 14.80 g/t Au over 2.9 metres ETW in Hole BL-23-133;
- 7.06 g/t Au over 17.7 metres ETW including 14.70 g/t Au over 3.3 metres ETW and 12.69 g/t Au over 3.4 metres ETW and 8.92 g/t Au over 2.3 metres ETW in Hole BL-23-136;
- 10.81 g/t Au over 3.4 metres ETW including 19.10 g/t Au over 1.8 metres ETW in Hole BL-23-143;
- 9.64 g/t Au over 3.3 metres ETW in Hole BL-16-044; and
- 5.77 g/t Au over 14.5 metres ETW including 14.00 g/t Au over 3.8 metres ETW and 10.00 g/t Au over 2.2 metres ETW in Hole GTH-BL-23-006.
Silver highlights from the Eastern Borosi drill program
- 1,431.6 g/t Ag over 2.9 metres ETW including 1,240.5 g/t AG over 1.4 metres ETW in Hole BL-15-018;
- 642.3 g/t Ag over 5.0 metres ETW including 1,014 g/t Ag over 2.0 metres ETW in Hole BL-15-017;
- 401.8 g/t Ag over 3.5 metres ETW including 925.0 g/t Ag over 1.3 metres ETW in Hole BL-23-111;
- 318.1 g/t Ag over 1.5 metres ETW in Hole BL-23-112;
- 307.3 g/t Ag over 2.7 metres ETW in Hole BL-23-115;
- 227.0 g/t Ag over 9.0 metres ETW including 247.8 g/t Ag over 4.8 metres ETW and 437.0 g/t Ag over 1.3 metres ETW in Hole BL-23-131; and
- 181.9 g/t Ag over 2.8 metres ETW including 288.5 g/t Ag over 1.7 metres ETW and 162.6 g/t Ag over 5.8 metres ETW including 225.2 g/t Ag over 2.9 metres ETW in Hole BL-23-133.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “These drill results at Eastern Borosi reinforce the potential for discovery and resource expansion within the 176 km2 Eastern Borosi land package. Moreover, the exceptionally high silver grades demonstrate further potential to capture additional value in the future. During the second quarter of 2023, Calibre achieved a significant milestone as we commenced mining from our high-grade Guapinol open pit (see news release dated April 18, 2023). Today’s high-grade results, combined with the established Mineral Resource base at Eastern Borosi and the potential for mine life extension at our Guapinol operation, confirm the significant mineral endowment of the district. In addition, the 7,281 km2 Atlantic Mineral Concessions are at an early stage but have high potential for the discovery of both epithermal gold-silver and porphyry copper-gold mineral systems.”
Link 1 – Figures
Link 2 – Drilling Tables
Other related developments from around the markets include:
Based on the success of Kibali, which Barrick Gold has built into Africa’s largest gold mine, the company is ready to invest in new gold and copper opportunities in partnership with the government of the DRC, says president and chief executive Mark Bristow. Speaking to media at a site visit to the mine, Bristow said Kibali was on track for another value-creating year on the back of a strong production performance. It was also well set to replace the ounces that were being depleted by mining with more of the same high quality. “Kibali has transformed what was previously the disadvantaged north-east region of the country into a new economic frontier and a flourishing commercial hub. Of our $5 billion investment in the DRC, more than half has been spent with local contractors and suppliers, many of whose growth into substantial businesses we have promoted by enhancing their commercial and technical skills and providing them with the opportunities to exercise these. Kibali’s third hydropower station, for example, was built by an all-Congolese team,” he said.
Royal Gold announced that management will host an Investor Update to provide an update on Royal Gold’s business, including 2024 guidance, on Wednesday, April 17, 2024 from 10:00 a.m. to noon EDT (8:00 a.m. to 10:00 a.m. MDT). A press release detailing 2024 guidance will be issued, before market open, on the same day. Prepared remarks by members of Royal Gold’s management team will be followed by a live question and answer session.
Franco Nevada recently noted that, "In late 2023, we were challenged by the unprecedented production halt at Cobre Panama. We are hopeful that the issues can be resolved, although we have taken a prudent approach for the carrying value of the asset", stated Paul Brink, CEO. "Despite the issue at Cobre Panama, our business remains robust and we continue to benefit from a long-duration, diversified portfolio. We finished the year with no debt and $1.4 billion in cash and cash equivalents. The balance of our business performed well in 2023 and is expected to grow in 2024 with contributions from the completion of the Tocantinzinho, Greenstone and Salares Norte gold mines. Our growth outlook through 2028 is driven by numerous new mines and mine expansions. $2.4 billion of available capital positions us well for attractive acquisitions in an environment where many project developers are capital constrained."
Newmont Corp. reported higher gold Mineral Reserves of 135.9 million attributable ounces for 2023 compared to the Company’s 96.1 million ounces at the end of 2022. Newmont has significant upside to other metals, including more than 30 billion pounds of copper reserves and nearly 600 million ounces of silver reserves. "Newmont has strengthened its position as the responsible gold leader with the industry's highest concentration of quality operations, reserves and resources," said Tom Palmer, Newmont's President and Chief Executive Officer. "In 2023, we added more than 47 million ounces of gold reserves and 14 billion pounds of copper reserves through the acquisition of Newcrest and the continuation of our industry-leading exploration program. With the largest gold and copper reserve base in the industry, Newmont is well-positioned to deliver stable production and meaningful value to stakeholders today and in the future."
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for disclaimer.
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