Gold prices have been struggling lately, but one analyst still believes it can push higher. In fact, according to Kitco.com, “Although the Federal Reserve has been quiet regarding the potential to launch a yield curve control program, [Kristina] Hooper [chief investment strategist at Invesco] said that if rising bond yields lead to tighter fiscal conditions or disorder in financial markets, then the central bank will be quick to act. She said that this potential guardrail in bond markets would provide critical support for gold prices through 2021.” In addition, the analyst believes gold prices could move towards $1850 by the end of the year. That’s could be a strong catalyst for companies such as West Mining Corp. (CSE:WEST)(OTC:WESMF), Gold Fields Ltd. (NYSE:GFI), Barrick Gold Corp. (NYSE:GOLD)(TSX:ABX), B2Gold Corp. (NYSE:BTG), and Newmont Corporation (NYSE:NEM)(TSX:NGT).
Look at West Mining Corp. (CSE:WEST)(OTC:WESMF) for example
West Mining is an advanced stage exploration company focused on developing a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia "The Golden Arc.”
The company just announced that it has acquired 17 mineral claims, totalling 856 hectares, contiguous to the Company’s flagship “Kena” Gold and Copper Project located in Nelson Mining District in southeastern British Columbia. The claims include the historic Athabasca Mine, a portion of the historic California Mine and the Princess Reverted Crown Grant.
The Company acquired the mineral claims pursuant to a claims purchase agreement with 802213 Alberta Ltd. dated March 22, 2021. Under the agreement, West paid $27,087 and issued 85,000 West common shares having an aggregate value of $85,000, representing an issue price of $1.00 per share. The shares are subject to a four month hold period in accordance with applicable securities laws.
Nicholas Houghton, President and CEO of West states: “We are truly excited to get on the ground and evaluate these new claims with the goal of extending our flagship Kena Property’s gold mineralization further to the north. When opportunities arise such as this with the accompanying knowledge of historical production it can only be beneficial for the Company and our shareholders as we continue to build our gold and copper portfolio”
The historic Athabasca Mine was discovered in 1896 and had intermittent production through the early 1900s. Total production was 41,779 tonnes mined and 20,219 tonnes milled at an average milled grade of 30 g/t gold, 10 g/t silver and with minor credits of lead, zinc and copper. Gold occurs as predominantly as free grains and also within sulphide minerals in quartz veins ranging from 0.3 to 1.5 metre widths (BC Minfile 082FSW168).
The claims are host to the northeast portion of the historic California Mine, including the Level 3 adit. The mineralization, which is hosted in 2 parallel quartz veins of 0.3 to 1.0 metre width within a 30 metre shear zone, has been developed on 3 levels by 650 metres of drifts. From 1910 to 1949, the California Mine produced 1462 tonnes of direct shipping ore grading 13.4 g/t gold and 84.3 g/t silver (BC Minfile 082FSW169).
The Princess claim hosts undocumented historic workings exposing disseminated to massive, banded sulphides and magnetite. Drilling of a single hole at the Princess showing by previous operator Noramco Mining Corp. returned 11.3 g/t gold and 0.66% copper over 1.5 metres core length (true width is unknown) (Technical Report for Altair Ventures Inc., Giroux and Grunenberg, 2012).
Other related developments from around the markets include:
Gold Fields Ltd. welcomes the electricity generation licence approved by the National Energy Regulator of South Africa (NERSA) for the construction of a 40MW solar power plant at its South Deep mine. The acting CEO of NERSA now has to authorise the license, a decision that should be forthcoming over the next two weeks. All the regulatory approvals to proceed with the project are then in place. Gold Fields will update its definitive costings and finalise all the required internal processes to commence the project as soon as possible. The solar plant has the potential to provide around 20% of South Deep's average electricity consumption.
Barrick Gold Corp. CEO Mark Bristow and Montana Governor Gianforte and Barrick Gold Corporation have met at the closed Golden Sunlight mine in Jefferson County to discuss an innovative project that is expected to create 75 or more jobs and tens of millions of dollars in tax revenue and benefits to the State over the next decade, while removing a source of potential water pollution from the mine site. The project involves the reprocessing of ground rock, known as tailings, from which gold was previously extracted in the Golden Sunlight mills. The focus will be on removing and concentrating sulfur (iron pyrite) that will then be sold to and used in gold production by Nevada Gold Mines (NGM), the largest gold producing complex in the world. Barrick, which owns Golden Sunlight, is also the majority owner and operator of NGM. The concentrated sulfur is not only valuable, but its removal will also eliminate a source of potential groundwater contamination. After reprocessing, the remaining benign material will be backfilled into the Mineral Hill pit.
B2Gold Corp. announced its operational and financial results for the fourth quarter and full-year ending December 31, 2020. The Company previously released its gold production and gold revenue results for the fourth quarter and full-year 2020, in addition to its production and budget guidance for 2021. In 2021, the Company is forecasting total gold production of between 970,000 and 1,030,000 ounces.
Newmont Corporation and GT Gold Corp. announced that the companies have entered into a binding agreement in which Newmont will acquire the remaining 85.1% of common shares of GT Gold not already owned by Newmont. Under the terms of the agreement, Newmont will acquire each GT Gold share at a price of C$3.25, for cash consideration of approximately US$311 million (C$393.0 million).
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 West Mining Corp. by West Mining Corp. We own ZERO shares of West Mining Corp. Please click here for full disclaimer.
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