Investors are running back to the safe haven of gold. All thanks to rising inflation, with consumer prices up 5.4% in June, the biggest monthly gain in about 13 years. If we exclude food and energy, core inflation was up 4.5%, its biggest move in about 30 years. “Inflation is a significant risk facing investors, which is why now might be the best time to turn to safe-haven assets such as gold, said Adam Trexler, founder and president of Valaurum, as quoted by Kitco. "The best time to buy gold is before a crisis. This is now a really good time for people to be stocking up, as it were. Because in the event of widespread inflation, we think the gold price will go up much more.” Little wonder there’s interest in gold stocks, such as TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF), Altius Minerals Corporation (TSX:ALS)(OTC:ATUSF), Newmont Corporation (NYSE:NEM)(TSX:NGT), Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), and Kirkland Lake Gold Inc. (NYSE:KL)(TSX:KL).
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) Options Property with Visible Gold in Further Expansion of Golden Rose Project
TRU Precious Metals Corp. just announced that it has entered into an option agreement dated July 13, 2021 with an arm’s length individual, in respect of 5 mineral licenses covering 51 contiguous claims (12.75 square kilometres (km2)) located in west-central Newfoundland, on which the Company has found visible gold. The Optioned Claims are contiguous with the Company’s flagship Golden Rose project. In addition, the Company has indirectly staked a larger land package surrounding the Optioned Claims.
TRU Co-Founder and CEO Joel Freudman commented: “I am excited about this option to add to our district-scale land package at the Golden Rose Project. TRU has moved aggressively in recent weeks to expand our footprint here, and the presence of visible gold on the Optioned Claims further bolsters the geological merit of Golden Rose. Having now tactically consolidated some of the most prospective property within and surrounding Golden Rose, for the time being we are satisfied that we have achieved one of our strategic objectives previously announced only one month ago on June 15th, namely property acquisitions contiguous with or close to the Company’s existing properties. With these acquisitions completed at Golden Rose, we believe we are ideally positioned for further discoveries there as we continue to carry out our comprehensive ground-level exploration program in anticipation of drilling Golden Rose later this year.”
Highlights
- Due diligence sampling and panning on the Optioned Claims by TRU management consistently returned numerous pristine to modified gold grains. These gold grains were found within a few meters of a partially exposed hardpan gossan (oxidized rock formation often found above mineral occurrences) consisting of iron oxide encrusted quartz grains and other minerals.
- A single large sample collected on the Optioned Claims by TRU was sent to Overburden Drilling Management Limited of Ottawa, Ontario, whose analysis identified 97 visible gold grains that may have a nearby source.
Other related developments from around the markets include:
Altius Minerals Corporation updated its Project Generation business activities and its public junior equities portfolio. The market value of equities in the portfolio at June 30, 2021 was approximately $64.5 million, compared to $54.2 million at March 31, 2021. The portfolio value includes receipt of 600,000 shares of Champion Iron Limited that were distributed to secured debt holders as part of its acquisition of the Kami project through a receivership process, and also 7.14 million shares of TRU Precious Metals Corp. that were received as payment for the Golden Rose property during the quarter.
Newmont Corporation announced it will report second quarter 2021 operations and financial results before the market opens on Thursday, July 22, 2021, and will hold a conference call at 10 a.m. Eastern Time (8:00 a.m. Mountain Time) the same day. The earnings call will also be carried on the Company’s website.
Barrick Gold Corporation will release its Q2 2021 results on Monday, August 9, 2021. President and CEO Mark Bristow will host a virtual presentation on the results that day at 11:00 EDT, with an interactive webinar linked to a conference call. Participants will be able to ask questions. The company will release its preliminary production, sales and cost information for Q2 2021 on July 15, 2021.
Kirkland Lake Gold Inc. announced record quarterly production for the second quarter of 2021 of 379,195 ounces, a 15% increase from the second quarter of 2020 and 25% higher than the previous quarter, with all three of the Company’s operations achieving increased production from both prior periods. For the first half of 2021, production totaled 682,042 ounces, a 3% increase from the first half of 2020, reflecting higher production at Detour Lake and Macassa.
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. TRU Precious Metals Corp. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of TRU Precious Metals Corp. Please click here for full disclaimer.
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