Distributed on behalf of Blue Jay Gold.
Central banks are giving investors
another reason to buy gold. According to the World Gold Council, central banks
bought 63 tonnes of gold in September, marking the biggest monthly purchase
since November 2024. That’s also up from the 39 tonnes bought in August. All of
which supports higher gold and gold-related stock prices for companies such as Blue
Jay Gold (TSXV: JAY) (OTCQB: JAYGF), Newmont (NYSE:
NEM), Agnico Eagle Mines (NYSE: AEM) (TSX: AEM), Royal
Gold (NASDAQ: RGLD), and Barrick Mining (NYSE: B)
(TSX: ABX).
Even better, analysts cited by the Financial Times expect gold to reach new record highs within the next two years. They point to global conflicts, economic uncertainty, rising government spending and debt, and efforts by some countries to reduce their reliance on the U.S. dollar. In addition, Greenlight Capital founder David Einhorn is bullish. In fact, according to GoldSilver.com, he believes gold could significantly outperform the Nasdaq over the next three to five years. His view rests partly on concerns about U.S. government spending and borrowing, along with the continued shift by some countries toward alternatives to the dollar.
One of the Potential Beneficiaries is Blue Jay Gold (TSXV: JAY) (OTCQB: JAYGF)
Blue Jay Gold Corp. announced a materials purchase agreement with Ocean Partners UK Limited, an international trader of base and precious metal concentrates, in support of its Steller Gold Project, located 55 km south of Whitehorse, Yukon. The materials purchase agreement provides for the sale of the Company’s remediation material and gives Ocean Partners exclusivity over the purchase of any further remediation stockpile and similar material from Steller during 2027.
The Remediation Material consists of surface stockpile material extracted by a previous operator during underground development at Skukum Creek. This material will be shipped to the Port of Skagway under the agreement with Ocean Partners.
Highlights
· Work that Should be Done: Removing this material reduces the historical legacy stockpiles at Steller and advances part of the Company's remediation program. Shipping it to Skagway makes the remediation work more sustainable, turning a remediation obligation into a source of non-dilutive capital.
· 2027 Exclusivity: Ocean Partners will have exclusivity over the purchase of any further remediation stockpile and similar material from Steller during 2027.
· PEA Planned: Blue Jay intends to complete a Preliminary Economic Assessment in the first half of 2027 evaluating a direct shipping ore option for the current Steller Mineral Resource under a life-of-mine scenario.
· Infrastructure Advantage: Steller is connected by road to both Whitehorse and the deep- water port of Skagway, Alaska. The Project is approximately 165 km by road from the point where the material will be delivered.
· Advance Payment on Delivery: Ocean Partners will pay 90% of the estimated value of each shipment shortly after loading, with the balance settled on final weights and assays.
"Projects with past operations often come with legacy stockpiles, and they create an opportunity to use progressive and novel approaches to rehabilitation. At Steller, geography gives us an elegant solution," said Geordie Mark, CEO of Blue Jay Gold. "Our approach also highlights a part of Steller that is easy to overlook. Many projects have no simple way to deal with stockpiles. At Steller, we can truck the material from site to a nearby port and load it onto a ship. Doing this with Ocean Partners means the work generates capital for the Company instead of consuming it, and an Agreement that extends through 2027 shows that Ocean Partners sees longer-term value in Steller. This work also gives us an early indication of whether a lower-impact direct shipping approach could work at Steller. That access is a real advantage for the Project, and it is why we intend to complete a PEA in the first half of 2027 that evaluates development options, including direct shipping. This shipment gives us a working test of the logistics that approach would rely on, while our exploration capital stays focused on drilling."
Brent Omland, CEO of Ocean Partners, added, "Direct shipping of remediation material is one of the products Ocean Partners trades, and Steller has the attributes, with its high-grade gold and silver mineralization, a past-producing mine and road access to a deep-water port, that make it a good fit. The remediation material gives us a practical place to start working together, and our exclusivity through 2027 reflects our confidence in the Project. We look forward to supporting Blue Jay as it advances Steller and considers the options available to bring its material to market."
Infrastructure and Logistics
Steller is accessed by an approximately 84 km road from Whitehorse and sits approximately 20 km north of the British Columbia border. The material will be collected and trucked by existing highway to Skagway, Alaska, an established port on the Pacific coast. Delivery would take place at Skagway and then shipped to Ocean Partners’ facilities.
Materials Purchase Agreement
Under the Agreement, Ocean Partners will purchase 100% of stockpiled and similar material to the end of 2027. Material will be delivered free on board at Skagway, with payment based on a grade-based payability scale. Ocean Partners will advance 90% of the estimated value of each shipment shortly after loading, with the balance settled on final weights and assays.
Preliminary Economic Assessment
Blue Jay intends to complete a PEA in the first half of 2027 that evaluates a DSO option for the current Mineral Resource Estimate at Steller under a life-of-mine scenario. The Mineral Resource Estimate, prepared by P&E Mining Consultants Inc. with an effective date of October 31, 2025, includes Indicated Mineral Resources of 1,372,000 tonnes grading 9.06 g/t AuEq for 400,000 ounces AuEq and Inferred Mineral Resources of 2,166,000 tonnes grading 6.45 g/t uEq for 449,000 ounces AuEq, at a 3.0 g/t AuEq cut-off1. Practical experience from shipping the 2026 Remediation Material, including logistics, sampling and commercial terms, is expected to inform the PEA.
The 2026 Remediation Material is not a mineral resource or mineral reserve under National Instrument 43-101 ("NI 43-101"). The Company has not based any decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and there is increased uncertainty and economic and technical risk associated with the bulk sample program.
1. 2026 Technical Report. TECHNICAL REPORT AND UPDATED MINERAL RESOURCE ESTIMATE OF THE STELLER GOLD PROJECT, WHITEHORSE MINING DISTRICT, YUKON TERRITORY, CANADA. P&E Mining Consultants Inc. Effective Date: Oct. 31, 2025. Cut-off: 3.0 g/t AuEq. Au: US$2,850/oz. Ag: US$34.20/oz. AuEq ratio = Au:Ag 85.6:1
Next Steps
Blue Jay expects to ship the Remediation Material in the near term. The Company will engage a consultant and begin work on the PEA this quarter. Blue Jay will continue to evaluate further remediation pathways in consultation with its partners and stakeholders. Proceeds from the sale of the 2026 Remediation Material will be used to fund exploration at Steller and for general working capital.
Other related developments from around the markets include:
Newmont and Barrick reached an agreement under which excluded properties, including Barrick’s Fourmile and Newmont’s Fiberline and Mike developments, will be contributed into the Nevada Gold Mines (NGM) joint venture. The agreement concludes all outstanding disputes between the parties related to the NGM joint venture. With the resolution of all outstanding disputes and contribution of excluded properties, Newmont has provided its consent to Barrick’s proposed IPO of its North American gold assets. The agreement includes enhanced governance provisions under a modernized joint venture agreement and provides for consideration of $1.95 billion from Newmont to Barrick to reflect the contribution of excluded properties into the joint venture. This agreement positions both parties to maximize the value of the joint venture. Newmont and Barrick will continue working together to improve NGM's safety and performance, unlock the full value these assets are capable of delivering, and ensure the long-term success of the joint venture for the benefit of all stakeholders.
Agnico Eagle Mines reported financial and operating results for the second quarter of 2026. "Our high-quality portfolio delivered another strong quarter, with better-than-planned production and disciplined cost control driving strong margins and record quarterly free cash flow," said Ammar Al-Joundi, President and Chief Executive Officer. "The strength of our business and our balanced capital allocation approach enabled us to reinvest in future growth, enhance our portfolio through the completion of the regional consolidation in Finland, further strengthen our balance sheet and return a record $625 million to our shareholders through dividends and share repurchases during the quarter. Continued progress across our growth projects, supported by positive exploration results, reinforces our confidence in our long-term outlook, while our strong financial position supports our commitment to creating long-term value and delivering strong returns to our shareholders."
Royal Gold released financial results for the quarter ended June 30, 2026. “Financial results for the second quarter were strong and we made meaningful progress on executing our priorities,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “We continued our disciplined approach to capital allocation. We repaid debt, repurchased and cancelled shares, and invested capital toward our Warintza and Hod Maden portfolio interests. We also continued progress on simplifying the Sandstorm portfolio with the restructuring of the Hod Maden joint venture interest and the settlement of the fixed delivery obligations at the Relief Canyon mine. After a solid first half of the year driven by our large and diversified portfolio, our outlook for the second half remains positive, and we will maintain our discipline and long-term focus as we consider alternatives to accretively deploy capital in an active environment for new business development opportunities."
Barrick Mining announced that the Government of Tanzania has renewed the Special Mining Licenses for the North Mara Gold Mine for another 15 years. The renewal means North Mara can keep investing in the mine, its people, and its communities for the long term. Since Barrick took over operations in 2019, North Mara has increased local employment, expanded economic benefits for nearby communities, and strengthened its relationship with local stakeholders. Tanzanian nationals now make up 96% of the workforce of approximately 3,000 in the country, with 47% drawn from communities surrounding the mines. Barrick has injected approximately $5.3 billion into the Tanzanian economy since 2019, including $1.2 billion in 2025 alone through taxes, royalties, salaries, dividends and local procurement. Local participation remains a cornerstone, with more than 90% of procurement sourced from Tanzanian registered companies, the majority of which are indigenous companies. In 2025, Barrick was recognized by the Government of Tanzania with several awards, including top dividend payer, and highest contributor to government revenue.
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 Blue Jay Gold by Blue Jay Gold. We own ZERO shares of Blue Jay Gold. Please click here for disclaimer.
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