NEW YORK, June 22, 2021 /PRNewswire/ — Gold prices rebounded on Monday after last week’s steep decline. The gold prices reacted to the U.S. dollar index, which has fallen slightly, due to corrective pullback from stronger gains recorded last week. According to a report by Kitco, the marketplace continues have concerns about possible rising inflation rates after last week’s hawkish monetary policy tone from the Federal Reserve. “People are using the correction to buy gold, at these price levels, there is value to hold positions in gold, especially for the long run,” said Phillip Streible, Chief Market Strategist at Blue Line Futures in Chicago, according to CNBC. Gold Mountain Mining Corp. (TSX-V: GMTN) (OTC: GMTNF), Prime Mining Corp. (OTC: PRMNF), New Gold Inc. (NYSE: NGD), Orla Mining Ltd. (NYSE: ORLA), K92 Mining Inc. (OTC: KNTNF)
Gold prices have also received some support from the European Central Bank (ECB). The president of the ECB, Christine Lagarde, repeated previous remarks that the Bank is not ready to look at tightening its monetary policy anytime soon. Lagarde testified before the European Parliament’s Committee on Economic and Monetary Affairs, where she explained that the ECB will continue to maintain its ultra-loose monetary policies as it is prepared to see through current inflation pressures. “While partly reflecting improved economic prospects, a sustained rise in market rates could translate into a tightening of wider financing conditions that are relevant for the entire economy. Such a tightening would be premature and would pose a risk to the ongoing economic recovery and the outlook for inflation,” Lagarde indicated according to Kitco.
Gold Mountain Mining Corp. (TSX-V: GMTN) (OTCQB: GMTNF) just announced breaking news regarding, “a corporate update as it nears its 6 month trading anniversary, showcasing its transformation from a small scale asset to a near-term producer on the cusp of mining operations and reaching 1,000,000 ounces…
Initiatives for remainder of 2021
While the Company is proud of its achievements to date, below are the upcoming milestones management is forecasting to accomplish during the latter half of 2021:
- June – Close its $10M, bought private placement led by Canaccord Genuity, Eight Capital and Red Cloud Securities. These funds will be used to continue expanding the resource and carry the Company into commercial production.
- June – Submit its final mining permit comments to the statutory decision maker. The Company anticipates its permit to be sent up for final approval in the coming weeks.
- June/July/August – Waste rock mining in Pit 2.
- September – Begin ore mining along the high-grade 1300 vein.
- September – Add an additional diamond drill rig for its Phase 3 exploration program.
- October – Complete JDS’s Pre-Feasibility study, increase the contained mineral resources past 1,000,000 ounces and declare maiden Reserves.
- October – Deliver first ore to New Gold.
- November – Receive payment and begin revenue generation.
- December – Establish steady state commercial production
Initiatives and outlook for 2022
- Environmental Assessment (“EA”) – Begin the EA process to increase annual production to 324,000 tonnes per year
- Continued Expansion – Continue to aggressively drill the property and look to acquire additional projects to become a multi asset company.
- U.S. Listing – Upgrade its U.S. listing to the New York Stock Exchange
‘We have had an extremely active first six months since coming to trade and given our commitment to continuously delivering to shareholders, we wanted to update the market with our timeline for the remainder of the year. When we started this project, the feedback was this mine is always going to be too small, expensive to operate and very difficult to get back into production. Today, we have a PEA built off of locked-in agreements showing an AISC of $554 (USD) per ounce, we’ve shown we can efficiently expand the resource, our draft permit is in, and we’re on schedule to drop off our first batch of ore to New Gold in October.’ commented Kevin Smith, CEO and Director of Gold Mountain. ‘It’s still heads down here at Gold Mountain as we continue to drive this company forward and create value for those who want to join us in building out BC’s next gold producer.’…
Qualified Person – The foregoing technical information was approved by Grant Carlson, P.Eng., a Qualified Person, as defined under National Instrument 43-101 and the Chief Operating Officer for Gold Mountain Mining Corp.”
Prime Mining Corp. (OTCQB: PRMNF) announced on May 25th, additional positive results from its continuing 15,000-metre first phase drill program (“Phase 1”) at its wholly owned Los Reyes gold-silver project in Sinaloa state, Mexico. The results include new drill core assays from the Guadalupe East and Zapote South deposits which are two of eight known gold-silver deposits that comprise the current mineral resource at Los Reyes. Chief Executive Officer, Daniel Kunz commented, “We are excited to have encountered more bonanza grade gold and silver mineralization in ongoing drilling at Guadalupe East that has both open pit and now underground resource potential and that remains open at depth and to the south. Drilling the bonanza grade mineralization at Guadalupe East requires solving problems caused by historic workings, access logistics and the depth of targeted mineralization from surface. We have mobilized a more powerful drill rig to help address these challenges. At Zapote South, we are also seeing anticipated gold and silver grades that extend mineralization towards Tahonitas.”
New Gold Inc. (NYSE: NGD) announced on May 25th, that the Mines Act permit enabling mining of the B3 zone was issued by the Ministry of Energy, Mines and Low Carbon Innovation. “This is a significant milestone for the New Afton Mine,” stated Renaud Adams, President & CEO. “With the receipt of the B3 permit, ore extraction activities will begin this quarter and ramp-up over the year. C-Zone development continues to advance with C-Zone extraction expected to begin in the second half of 2023.”
Orla Mining Ltd. (NYSE: ORLA) reported on January 11th, provided the results of an updated Feasibility Study and mineral reserve estimate on its Camino Rojo Oxide Gold Project located in Zacatecas, Mexico. The updated Feasibility Study highlights a 54% increase in contained gold mineral reserves and a 3.5-year extension to the mine life of the Project, which is currently in construction. “The updated Feasibility Study for the Camino Rojo Oxide Project demonstrates an increase in recovered gold, mine life, and cash flows,” stated Jason Simpson, President and Chief Executive Officer of Orla. “An already excellent project has been improved due to the hard work of the entire Orla team and I thank them for their efforts. We are pleased to announce this important enhancement and we will continue to optimize this asset as we move through construction and into production.”
K92 Mining Inc. (OTCQX: KNTNF) announced on April 16th, production in the first quarter at its Kainantu Gold Mine in Papua New Guinea of 18,654 oz AuEq, or 17,774 oz of gold, 426,153 lbs of copper and 7,925 oz of silver. John Lewins, K92 Chief Executive Officer and Director, stated, “Despite multiple short term and unexpected events in the quarter as a result of COVID-19 travel restrictions, loader incident and international bulk emulsion shipping issues, the operation has continued to make considerable progress. On the process plant, we continue to test the ultimate throughput potential and it appears to be greater than the 1,100 tpd nameplate as demonstrated with several throughput records achieved during the quarter. On stoping, long hole continues to perform to design with competent hanging wall and footwalls, and high-grade stoping recommenced in late March. On development, outside of the period impacted by the short term COVID-19 travel restrictions, advance rates have been rapid throughout the mine and at the twin incline. Financially, K92 is in its strongest position ever, paying down the last $5 million of debt and increasing cash to historic levels to $66 million at the end of the quarter. And lastly, on exploration, we continue to make progress drilling multiple vein and porphyry systems.”
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For gold mountain mining corp. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
Media Contact:
[email protected]
+1-877-601-1879
www.FinancialBuzz.com
SOURCE FinancialBuzz.com
Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.prnewswire.com:443/news-releases/gold-prices-rebound-after-banks-reiterate-their-stance-301317183.html
