Investors may want to push back into gold. “The gold market still has a path to push above $2,000 an ounce even as the Federal Reserve continues to aggressively raise interest rates throughout the year, according to commodity analysts at the French investment bank Societe Generale,” as noted by Kitco.com. “In the bank's latest commodity outlook, published Wednesday, the analysts raised their gold prices forecast and see the precious metal averaging around $2,100 by the third quarter of 2022. The analysts said that the most significant factor dominating the gold market remains real interest rates.” All could be positive for companies, such as Calibre Mining Corp. (TSXV: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), B2Gold Corp. (TSX: BTO) (NYSE: BTG), and Equinox Gold Corp. (TSX: EQX) (NYSE: EQX).
Look at Calibre Mining Corp. (TSXV: CXB) (OTCQX: CXBMF), For Example
Calibre Mining Corp. announced that the Company has been granted the key environmental permit for development and production of the Pavon Central open-pit mine from the Ministry of the Environment and Natural Resources in Nicaragua.
Darren Hall, Chief Executive Officer of Calibre, stated: “The approval of Pavon Central marks a significant milestone in the Company’s efforts to organically grow production, utilizing a portion of the installed excess capacity at our Libertad mill. We are excited to introduce Pavon Central into the development profile fueling grade driven production growth in 2023 and 2024 from the 6.49 g/t gold reserve. See news release dated Feb 23, 2022 or Libertad Technical Report available on calibremining.com or sedar.com). We will continue to work closely with regulatory authorities, local communities, and all stakeholders to ensure safe and responsible development and mining at Pavon Central.”
During 2021 Calibre initiated mining at Pavon Norte, the first of three known gold deposits hosting mineral resources in the district. Calibre is advancing development of Pavon Central with the objective to commence production in the first quarter of 2023. Combined 2021 end-of-year mineral reserves for the Pavon Norte and Central open-pit mines total 165,000 ounces at an average gold grade of 5.07 g/t. Pavon Central hosts an average reserve grade of 6.49 g/t gold, notably higher than the average 3.28 g/t gold grade at Pavon Norte and is expected to contribute to the Company’s 2023 and 2024 production growth. See Calibre news release dated March 22, 2022 for details on recent highlight drill results, including:
Highlight Pavon Central Drill Results
- 5.08 g/t Au over 7.6 metres estimated true width (“ETW”) from 72.7 metres in hole PVC-21-046;
- 4.21 g/t Au over 6.5 metres ETW from 32.0 metres in hole PVC-21-062;
- 4.46 g/t Au over 9.8 metres ETW from 94.6 metres in hole PVC-21-078; and
- 8.58 g/t Au over 4.0 metres ETW from 145.3 metres in hole PVC-21-081.
Highlight Pavon South Drill Results
- 11.56 g/t Au over 12.4 metres ETW from 37.6 metres in hole PVS-21-004;
- 4.08 g/t Au over 2.3 metres ETW from 49.4 metres in hole PVS-21-002;
- 3.04 g/t Au over 28.4 metres ETW from 26.2 metres in hole PVS-21-006; and
- 11.75 g/t Au over 3.9 metres ETW from 81.2 metres in hole PVS-21-014.
Calibre has identified the potential for resource expansion along strike and at depth at the Pavon vein system and at new vein targets within the overall 32km2 land package, where two rigs are currently operating.
Since the beginning of 2021, Calibre has continued to progress development at Pavon Central, working closely with our environmental consultant and the ‘Centre for an Understanding with Nature’ in Nicaragua, to ensure quality engineering designs with minimal impact to the environment. Calibre has advanced engineering studies, mine plans, road construction designs, and socio-environmental initiatives focusing on community resilience, water conservation, and sustainable forestry and ranching. With road construction to the project underway, Calibre is well- positioned to commence production from Pavon Central in the first quarter of 2023.
Alan Bolt, Director General of the Centre for an Understanding with Nature (“CEN”), stated: “Having been approved by the population through public consultation and confirmed by the Ministry of the Environment, execution of Pavon Central will allow the local communities, CEN and Calibre to continue working together on the strengthening of native bee populations, forest and water restoration, and socioeconomic initiatives such as women's entrepreneurship and healthier homes with smokeless stoves and access to clean water. Calibre’s continued presence enables us to improve the local economy, contributing to a life without violence or poverty, and generating the necessary resilience to successfully face climate change.”
Other related developments from around the markets include:
Barrick Gold Corporation announced a $0.20 per share quarterly dividend, the first to include a $0.10 per share performance component in line with its new dividend policy. President and chief executive Mark Bristow said the Company’s net cash balance at the end of Q1 stood at $743 million, reflecting cash flow from the operations, the continuing sale of non-core assets, and its share of a further $0.6 billion in cash distributions by Kibali. Since agreement on the repatriation of revenue from Kibali was reached with the Democratic Republic of Congo (DRC) last year, Kibali has delivered $1.2 billion (on a 100% basis) in the form of dividends and debt repayments, inclusive of distributions received subsequent to March 31, 2022.
Newmont Corporation has closed a transaction with Skeena Resources Limited to acquire certain properties located in Tahltan Territory in northwestern British Columbia. Newmont will work in collaboration with the Tahltan Nation, the Iskut community and the British Columbia government to make available portions of the acquired properties to support the land use planning objectives of the Tahltan Nation and the Iskut community. “We are committed to sustainable resource development and developing a world class mining jurisdiction while protecting and conserving lands that are important to the Tahltan Nation and the Iskut community,” said Newmont President and CEO Tom Palmer. “The mining claims around Iskut are not being purchased for development or their mineral potential, but in an effort to address concerns raised through our engagement with the Tahltan Nation.”
B2Gold Corp. announced that it has published its sixth annual Responsible Mining Report entitled "Raising the Bar", which details B2Gold's global economic contributions and its environmental, social, and governance management practices, together with the Company's performance against key indicators in 2021. In announcing the release of the Report, Clive Johnson, President & CEO of B2Gold, states "in reflecting on 2021 and its continued challenges, from the ongoing COVID-19 pandemic, to social or political unrest, to the effects of climate change around the globe, I have asked myself how we as a company have managed to navigate and adapt while still meeting our targets and goals. It has become clear to me that the answer always comes back to B2Gold's core values of fairness, respect, transparency and accountability."
Equinox Gold Corp. announced that further to its press release dated May 16, 2022, approval for the tailings storage facility raise at its RDM Mine in Brazil has been received. The TSF raise contractor is mobilizing equipment to begin the raise in early June. Equinox Gold expects that full operations will resume by mid-July. Equinox Gold will update RDM guidance with its Q2 2022 disclosures in the first week of August.
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 full disclaimer.
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