Gold Prices Hold Stable as Investors Appraise Policy Decisions

NEW YORK, April 28, 2021 /PRNewswire/ -- Among the many variables impacting the price of gold are interest rates. In order to reduce the pandemic's impact on the economy, various economic measures have had to be implemented, including near-zero interest rates and economic stimuli for business and individuals. And now, the Federal Reserve's policy-setting arm isn't expected to be changing interest rates or formally updating its economic forecasts when it concludes its two-day meeting Wednesday. Nonetheless, the U.S economy is witnessing a period of inflation. According to a report by Kitco, Jon Deane, the CEO of Trovio, explained that "we are already seeing inflation. If you look around the world, you see real estate prices, building supplies, and services skyrocket," he said. "What we created since the early 1990s is an entire financial infrastructure that is relying on debt, and we have accelerated that dramatically in our response to managing the COVID-19 crisis. In that regard, we will continue to increase the money supply globally, and we will continue to have a quite aggressive fiscal policy. We are sitting on an economic cliff." Exploits Discovery Corp. (CSE: NFLD) (OTC: NFLDF), IAMGOLD Corporation (NYSE: IAG), NovaGold Resources Inc. (NYSE: NG), DRDGOLD Limited (NYSE: DRD), Fortuna Silver Mines Inc. (NYSE: FSM).

Analysts at Metals Focus recently looked at the impact geopolitical instability has on gold. "While several geopolitical events have the potential to escalate, including on the Ukrainian border, more important for the gold price will be the still supportive macro backdrop… Monetary and fiscal policies, including the persistence of ultra-low interest rates and negative real yields, and concerns about future inflation will continue to make the case for strong gold investment for the foreseeable future," the analysts said, according to Kitco.

Exploits Discovery Corp. (CSE: NFLD) (OTC: NFLDF) announced yesterday breaking news regarding, "non-brokered private placement of $4,100,000 consisting of 8,200,000 units (the "Units") at a price of $0.50 per Unit (the "Private Placement").

The entire Private Placement is being fully subscribed and invested into by Mr. Eric Sprott. Upon completion of the financing, Eric Sprott will hold 9.81% on a non-diluted basis and 14.45% on a fully diluted basis.

Michael Collins, President, CEO & Director stated 'I am pleased to welcome Mr. Sprott as a shareholder of Exploits Discovery Corp. Mr. Sprott's participation is a validation of our land, team and exploration strategy.  This funding will allow us to expand and aggressively chase both our current drill targets, and the development of new targets on the 200+ km of deep seated gold bearing structures on our Exploits Subzone claims.'

Each Unit consists of one common share ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.67 for a period of 24 months immediately following the closing date of the Private Placement.

A finder's fee of 3% of the gross proceeds of the Private Placement, will be paid to Raymond James Ltd. who are an arms-length finder and is payable in cash.

The proceeds from the Units will be used for exploration on the Company's properties, acquisition of additional properties, marketing and general working capital.

All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by Exploits of all necessary regulatory approvals, including the Canadian Stock Exchange.

The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States."

For our latest "Buzz on the Street" Show featuring Exploits Discovery Corp. recent corporate news, please head over to: https://www.youtube.com/watch?v=hD6IjgQqfEA

IAMGOLD Corporation (NYSE: IAG) reported on November 4th, its consolidated financial and operating results for the quarter ended September 30th, 2020.  "IAMGOLD performed well in challenging circumstances, generating $105.1 million in operating cash flows and producing 159,000 ounces of gold, resulting in $80.0 million in free cash flows from our operating mine sites," commented Gordon Stothart, President and CEO of IAMGOLD.  "In the quarter, we successfully completed our new bond issuance, lowering our interest costs, extending the maturity to 2028 and enhancing our financial flexibility with a cash balance of approximately $900 million. This cash position, along with access to our largely undrawn $500 million credit facility, brings our total liquidity to over $1.4 billion, enabling us to cover our portion of Côté's capital expenditures. Project engineering at Côté is now 66% complete, as early works continue and permitting advances to enable construction activities. Looking to the fourth quarter, production will be underpinned by Essakane and by Saramacca's contribution to Rosebel. As reported Monday, we had a seismic event at Westwood, with all employees safely brought above ground. I would like to recognize our Westwood team for their safe and successful response to this event. The Westwood mill is expected to restart operations in the next few days while the underground mine operations remain suspended."

NovaGold Resources Inc. (NYSE: NG) announced last year that its flagship Donlin Gold project, which NOVAGOLD owns equally with Barrick Gold Corp. ("Barrick"), received the final State Right-of-Way (ROW) authorization for the buried natural gas pipeline, issued by the Alaska Department of Natural Resources (ADNR) on January 17th, 2020. Additionally, ADNR denied an appeal and affirmed the Division of Mining, Land, and Water's original January 18th, 2019 approval of Donlin Gold LLC's Reclamation Plan and its accompanied permit. "We are very pleased to see the issuance of key transportation and energy infrastructure approvals for Donlin Gold," said Greg Lang, President and CEO.

DRDGOLD Limited (NYSE: DRD) reported on October 27th, in an operational update for the quarter ended 30 September 2020, a 45% quarter-on-quarter increase in gold production to 1 514kg, due primarily to a 27% increase in tonnage throughput to 7 260 000t and a 15% increase in yield to 0.209g/t.  Gold sold increased by 60% to 1 522kg.  As a result, cash operating costs per kilogram of gold sold decreased by 10% to R489 750/kg. Cash operating costs per ton of material processed increased by 2% to R104/t.

Fortuna Silver Mines Inc. (NYSE: FSM) reported last year the first gold pour from its Lindero Mine located in the Province of Salta in Argentina. The pour took place today, on Tuesday, October 20th, 2020, and produced 728 ounces of gold. Jorge A. Ganoza, President, CEO and Director, commented, "The first gold pour at Lindero, our third mine in the Americas, is a significant achievement for the Company as we advance the mine's ramp-up phase towards commercial production in the first quarter of 2021. Lindero is a mine with reserves for a projected life of thirteen years and is a pillar in Fortuna's asset portfolio." Mr. Ganoza continued, "I want to take this opportunity to commend our Salta based team's commitment and hard work in achieving this milestone, especially in the context where COVID-19 related restrictions continue to pose multiple limitations." Mr. Ganoza concluded, "If conditions permit, we look forward to hosting an on-site inauguration ceremony of Argentina's newest gold mine with provincial and federal authorities early next year."

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 exploits discovery 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