This Could Send Gold Prices to $2030 By Year End

Gold may have lost its shine. But don’t count it out just yet. “The macro drivers from aggressive rate hikes and a strong U.S. dollar have been keeping gold below $1,800 an ounce,” according to analysts at RBC Capital Markets, as noted by “But the heightened geopolitical tensions could still support gold into the year-end, which is why a price tag above $2,000 is still possible this fall.” That could be great news for 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).

"Gold's tug of war is happening against a high-risk environment. One where there is a war in continental Europe that's ongoing. Also, I wouldn't write off U.S.-China tensions over Taiwan. On top of that, there are the broader geopolitical trade intricacies of what is happening in terms of an energy crisis and economic performance more broadly," added RBC analyst Christopher Louney. "There is this high-risk perceived safe haven undercurrent that is a tailwind supporting gold above where the macro factors otherwise would put gold."

Look at Calibre Mining Corp. (TSXV: CXB) (OTCQX: CXBMF), For Example

Calibre Mining Corp. reported additional high-grade drill results from its Panteon North zone within the Limon Mine Complex, part of the Company’s 85,000 metre resource expansion and discovery drilling program. High-grade mineralization now extends across a strike length of nearly 400 metres with consistent, plus 15 gram per tonne drill intercepts over broad, minable widths. Given a recent VTEM survey click here for details, which has identified two, parallel five km potential mineralized corridors, the strong correlation to the high/low resistivity contact demonstrated in the recent drilling and historical mining zones Calibre has four rigs testing along strike and down plunge expansion potential.

Additional High-Grade Drill Result Highlights from Panteon North

- 52.59 g/t Au over 3.8 metres Estimated True Width (“ETW”), including 94.70 g/t Au over 1.1 metres; and 10.28 g/t Au over 2.1 metres ETW, including 16.50 g/t Au over 1.7 metres in Hole LIM-22-4662;

- 43.09 g/t Au over 3.3 metres ETW, including 155.10 g/t Au over 0.9 metres in Hole LIM-22-4647;

- 35.18 g/t Au over 2.8 metres ETW, including 58.00 g/t Au over 1.5 metres in Hole LIM-22-4653;

- 26.02 g/t Au over 8.1 metres ETW, including 41.30 g/t Au over 4.6 metres in Hole LIM-22-4665;

- 18.49 g/t Au over 1.1 metres ETW, including 49.30 g/t Au over 0.4 metres in Hole LIM-22-4654;

- 13.14 g/t Au over 3.1 metres ETW, including 49.10 g/t Au over 0.4 metres in Hole LIM-22-4651.

Tom Gallo, Senior Vice President, Growth at Calibre, stated: “This is a paradigm shifting discovery for us with consistent high-grade mineralization demonstrated over considerable strike length coupled with VTEM giving strong indications there is potential to expand and discover additional zones. Drilling is underway to extend this mineralized zone to depth with visual indicators having shown positive signs. Given the grade, we expect a substantial, positive impact made to our mineral resource statement.”

Darren Hall, President and Chief Executive Officer of Calibre, stated: “The discovery of bonanza grade at Panteon North was first announced (May 16, 2022 see news release here)(then June 27, 2022 see news) and we have subsequently expanded the zone. Drilling continues to intercept consistent, extremely high-grade gold mineralization across approximately 400 metres of strike. The deepest results to date are situated only 250 metres from surface with new drill intercepts pending assays as deep as 450 metres from surface. These drill results, in combination with the successful VTEM campaign, reinforce our grade driven production growth as the high-grade Panteon North discovery is not included in our recent multi-year production outlook (see news release dated June 22, 2022).”

Additional High-Grade results announced since discovery in May of this year include;

- 66.03 g/t Au over 5.6 metres Estimated True Width (“ETW”), including 167.27 g/t Au over 2.3 metres and 14.95 g/t Au over 1.9 metres ETW in Hole LIM-22-4630;

- 30.33 g/t Au over 5.0 metres ETW, including 40.62 g/t Au over 3.8 metres in Hole LIM-22-4628;

- 22.55 g/t Au over 4.9 metres ETW, including 68.51 g/t Au over 1.7 metres in Hole LIM-22-4632;

- 17.58 g/t Au over 2.4 metres ETW, including 28.67 g/t Au over 1.9 metres in Hole LIM-22-4627;

- 17.80 g/t Au over 7.3 metres ("ETW"), including 6.69 g/t Au over 1.9 metres, 26.37 g/t Au over 2.8 metres and 16.84 g/t over 3.2 metres in Hole LIM-22-4619;

- 4.66 g/t Au over 1.7 metres ETW, including 8.20 g/t Au over 0.8 metres in Hole LIM-22-4637

- 9.72 g/t Au over 3.9 metres ETW, including 27.80 g/t Au over 1.4 metres in Hole LIM-22-4616;

- 8.84 g/t Au over 1.1 metres ETW, including 20.30 g/t over 0.6 metres in Hole LIM-22-4620;

- 12.75 g/t Au over 2.4 metres ETW, including 33.70 g/t Au over 1.0 metres in Hole LIM-22-4622; and

- 9.38 g/t Au over 2.7 metres, including 34.50 g/t Au over 0.6 metres in Hole LIM-22-4625.

For full drill results see details in the June 27, 2022 news release here and May 16, 2022 news release here.

The Panton North discovery is located approximately one kilometre northwest of the high-grade producing Panteon underground mine and approximately three kilometres from the Limon mill site. Panteon North is a new discovery with no resource and reserve classified, the zone remains open down plunge and open to the northwest and potentially beyond to the northeast as outlined along the VTEM resistivity contact which extends for another three kilometres.

Other related developments from around the markets include:

Barrick Gold Corporation announced that it has entered into a definitive agreement to sell a portfolio of royalties to Maverix Metals Inc. for total consideration of up to $60 million. The Portfolio consists of 22 royalties on the production of minerals from mines located in North America, South America, Australia and Africa. The total consideration of $60 million consists of $50 million in cash payable on closing of the Portfolio sale, subject to the exercise of any right of first refusal or buy-down right by the counterparties under certain royalties, and three contingent payments.

Newmont Corporation announced second quarter 2022 results. Produced 1.5 million attributable ounces of gold and 330 thousand attributable gold equivalent ounces (GEO) from co-products, an increase of more than 130 thousand total gold equivalent ounces from the first quarter. Generated $1.0 billion of cash from continuing operations and $514 million of Free Cash Flow (97 percent attributable to Newmont). "Newmont delivered a solid second quarter performance, producing 1.5 million gold ounces and generating $514 million in free cash flow. Through our industry-leading portfolio of assets and projects, our proven integrated operating model, our balanced and disciplined approach to capital allocation and our values-driven commitment to our purpose of creating value and improving lives through sustainable and responsible mining, Newmont remains well-positioned to safely manage through the evolving and unprecedented challenges that face our industry and the world at large,” said Tom Palmer, Newmont President and Chief Executive Officer.

B2Gold Corp. announced its operational and financial results for the second quarter and first half of 2022. The Company previously released its gold production and gold revenue results for the second quarter and first half of 2022. Total gold production of 223,623 ounces (including 14,765 ounces of attributable production from Calibre Mining Corp. ("Calibre")), slightly above budget by 1% (2,154 ounces), and consolidated gold production of 208,858 ounces from the Company's three operating mines, in line with budget. Consolidated gold revenue of $382 million on sales of 205,300 ounces at an average realized gold price of $1,861per ounce.

Equinox Gold Corp. announced its second quarter 2022 summary financial and operating results. Christian Milau, CEO of Equinox Gold, commented: “Although we experienced operational challenges at several of our sites this quarter, we expect improved performance in the second half of the year with increased production and lower costs. Inflation has certainly increased the cost of consumables and our team is working hard to find offsetting savings so we can maintain a strong business during this market downturn. The new resin-in-leach circuit at the Santa Luz plant is performing well. Recoveries are consistently above 70% and as high as 82%. With commercial production anticipated in Q3 2022, Santa Luz will contribute to increased production in the fourth quarter and into 2023.”

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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