As Precious Metals Sectors Battle Through Market Fluctuations Miners Continue to Forge Ahead; Company Enters Agreement to Acquire Mine in Peru

25 May, 2016, 09:15 ET from FN Media Group LLC

CORAL SPRINGS, Florida, May 25, 2016 /PRNewswire/ --

Gold, Silver and other Precious metals sectors are experiencing uneasy market conditions recently but are still expected to see a CAGR of over 4% throughout the next four years as demands have reached record highs coming off 2015.  With a fast start underway in 2016, miners are hoping to experience growth opportunities with new acquisitions and project advancements even though the sector is currently going through ups and downs, trying to rebounds from recent developments.

Forging forward with a recent acquisition news:  ALTAIR GOLD INC. (TSXV: AVX) -  Mr. John Huguet, Chairman of the Board, is pleased to announce the signing of a Binding Letter of Intent, with an arm's length company, to acquire 100% of Epic Mining Corp. which in turn owns 99% of Panamericana SAC.  Panamericana SAC owns a resource property in Peru covering approximately 900 hectares.

Read the full Altair Gold (AVX.V) at http://www.financialnewsmedia.com/profiles/avx.html

Through the acquisition, Altair will hold 100% of the rights, title and interest in the 900 Ha Lejin property. 700 Ha of the Leijin property is surrounded on three sides by Hudbay Minerals Inc.'s (NYSE: HBM) holdings adjacent to their Constancia Mine in the Province of Chumbivilcas in southern Peru. HudBay invested $1.7 billion in the construction of the Constancia Mine and achieved commercial production in April 2015. The Constancia Mine is an open pit operation with a 22 year life primarily extracting copper with additional molybdenum and silver credits. Limited sampling conducted on the Lejin property has detected traces of alteration suggesting the potential for copper mineralization. On closing of the acquisition the Company will consider an exploration program to test targets on the properties.

In other developments and market activity of interest in the Precious Metals sectors:  Seabridge Gold (NYSE: SA) outlined its 2016 exploration plans at its 100%-owned KSM Project in northwestern British Columbia. The program calls for 10,000 meters of core drilling designed to expand by as much as 800 meters the block cave shapes that confine the current resource estimate (see plan map and cross sections at http://seabridgegold.net/pdf/NMay24-16-maps.pdf ). Drilling is planned to begin by mid-June following a winter of relatively light snow accumulation.

Barrick Gold Corporation (TSE: ABX.TO) stock has declined lately with gold prices as expectations of an interest rate hike increases.  ABX produces and sells gold and copper as well as being involved in exploration and mine development activities in various countries, closed down slightly on Tuesday at $16.91 on over 18.6Mil shares traded  by the market close.

Newmont Mining Corporation (NYSE: NEM) Stock Upgraded at Goldman Sachs - "We are upgrading our gold price forecasts by 10%/15%/10% for 2016, 2017, and 2018, respectively, following the Goldman Sachs economists' revision of future interest rate-path expectations for the next three years. Our precious metals coverage now offers on average +2% upside (market cap-weighted) to our revised 12-month price targets. With a combination of higher prices and flat costs, we now believe the miners are well positioned to generate superior market returns as Ebitda margins begin expanding. We make a number of ratings changes, including upgrading Newmont Mining Corporation  to Buy (from Neutral) and downgrading Franco-Nevada (FNV and FNV.Canada) to Sell (from Neutral).  Read more at http://blogs.barrons.com/emergingmarketsdaily/2016/05/11/goldman-ups-gold-outlook-newmont-mining/?mod=yahoobarrons&ru=yahoo

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