Gold May Be Best Hedge Against Politicians As Miners Forge Ahead
Sep 29, 2016, 08:30 ET
CORAL SPRINGS, Florida, September 29, 2016 /PRNewswire/ --
Jeff Currie, head of commodities research at Goldman Sachs, attributes part of the 20 percent rally in gold this year to uncertainty over the coming U.S. election. "We have a lot of political risk in the market right now, so gold has a strategic purpose," said Currie, explaining that investors often gravitate toward hard assets in times of uncertainty. Recent developments in the sector: GOLDCORP INC. (NYSE: GG), Bullfrog Gold Corp (OTC: BFGC), IAMGOLD Corporation (NYSE: IAG), Kinross Gold Corporation (NYSE: KGC) and YAMANA GOLD INC. (NYSE: AUY).
Bullfrog Gold Corp (OTCQB: BFGC) is pleased to announce that Kjeld Thygesen has joined the Company as an independent Director. Mr. Thygesen brings 46 years of international credentials in the mining research and finance sectors and joins Alan Lindsay, Chairman and David Beling, President and CEO as a member of Bullfrog's Board. Mr. Lindsay and Mr. Beling have been involved with Mr. Thygesen on many business matters for more than 24 years and very much look forward to his able contributions on behalf of the Company.
To read the full BFGC Press Release along with a complete summary of Mr. Thygesen's extensive experience, particularly in precious metals, please go to:http://financialnewsmedia.com/profiles/bfgc.html
Bullfrog Gold Corp. is focused on the further exploration and development of its flagship Bullfrog Gold Project (Project) located 120 miles NW of Las Vegas, Nevada. The Company controls 2,200 acres where Barrick Bullfrog Inc. (Barrick) produced 2.3 million ounces of gold during 1989 into 1999. The Company has access to Barrick's large data base, including 157 miles of drilling in 1,298 holes, heap leach test work and much additional data that support the Project. In this regard, it would cost much more than $40 million to re-create this very large data base.
BFGC also refers readers to this link to access a recent, 11-minute audio interview with David Beling, CEO: http://thestockradio.com/dave-beling-ceo-at-bullfrog-gold-corp-bfgc-3165.html
In other mining news and developments in the sector:
GOLDCORP INC. (NYSE: GG) also recently announced an appointment of Charlie Sartain to the Company's Board of Directors, effective as of January 1, 2017. "Charlie will be a tremendous addition to our Board of Directors," said Ian Telfer , Chairman of the Board of Goldcorp. "His technical knowledge and operational experience will be invaluable as we continue to optimize our portfolio and advance our organic pipeline."
IAMGOLD Corporation (NYSE: IAG) recently announced additional drilling results from its 100% owned Boto Gold Project in eastern Senegal, West Africa. The Company is reporting assay results from twenty-three diamond drill holes at the Malikoundi deposit totaling 2,217 metres, completed prior to the commencement of the rainy season, including five diamond drill holes that were deepened to target footwall mineralization and provide additional geotechnical information.
Kinross Gold Corporation (NYSE: KGC) announced the signing of an agreement with GMP Securities L.P. ("GMP") pursuant to which GMP has agreed to purchase, for re-sale on a private placement basis, 5,500,000 common shares of Lundin Gold Inc. ("Lundin Gold") (the "Sale"), representing approximately 4.6% of currently outstanding common shares. GMP is purchasing the shares at a price per share of CAD$5.60, resulting in gross proceeds of CAD$30,800,000.
YAMANA GOLD INC. (NYSE: AUY) provided clarification with respect to information this week that has appeared in the public markets relating to the status of legal proceedings between its subsidiary 0805346 BC Ltd. ("0805") and Ricardo Auriemma ("Auriemma") and to recent developments in Andalgala, a municipality in the Catamarca province of Argentina located 17 kilometres from Agua Rica. Read the full release at YahooFINANCE
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