NEW YORK, April 13, 2017 /PRNewswire/ --

The price of Gold hit five-month high on Wednesday at 1,286.29 per ounce, as rising global tensions mount. The yellow metal is now trading near the highest level since the presidential election in November 2016. Concerns about global geopolitical conflicts, along with the upcoming French elections continued to drive the demand of gold. The price of gold slumped in November 2016, but has rebounded since mid-December, or gaining more than 10 percent year to date. Kenadyr Mining Holdings Corp. (TSX-V: KEN), Nevsun Resources Ltd. (NYSE: NSU) (TSX: NSU.TO), Eldorado Gold Corp. (NYSE: EGO) (TSX: ELD.TO), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI.TO), B2Gold Corp. (NYSE: BTG) (TSX: BTO.TO)

Gold is often viewed as safe-haven asset in times of geopolitical and financial turmoil. Gold price surged on Tuesday due to the growing tensions between the United States and North Korea. The Asian country warned of a nuclear attack on the United States if provoked. In addition, the upcoming presidential election in France deepened the concerns about political stability. The first-round of voting will be on April 23rd and investors are concerned that an unexpected result may lead to the destabilization of the European Union. Focusing on continued global concerns, the conflicts in the Middle East also have been an influence. Natixis precious metals analyst Bernard Dahdah explained, according to a report by Reuters, "Tensions in the Middle East haven't receded and various other geopolitical stories can be put together which help support the price of gold…. But typically (safe-haven buying) will not have an impact on the long term on gold."

Kenadyr Mining Holdings Corp. (TSX-V: KEN) on March 31^st announced that, "It has commenced trading today on the TSX Venture Exchange with the symbol TSXV: KEN. Kenadyr has no debt, approximately $8.5 million in cash, a strong institutional shareholder base and a management team with extensive in-country operational experience and merger and acquisition expertise.

Kenadyr's Bourbai project comprises a 100% owned exploration license covering a contiguous 164 square kilometer land package that encircles the Zigin/Kyrgyz/Altyn newly constructed and operational Taldy-Bulak Levoberejnv Mine ('TBL Mine') which was built at a cost of USD $296-million, in northern Kyrgyz Republic.

Zijin, the majority owner of the TBL Mine, is one of China's largest gold producers, second largest copper and zinc producer, as well as a major producer of tungsten and iron ore. In 2015, Zijin's sales revenue and net profit attributable to the parent company reached USD $11.44 billion and USD $255 million respectively, ranking 1st and 2nd respectively among 14 major global public gold miners (source: Zijin website). According to a news release published by Zijin Mining Group Co. Ltd. on Aug. 15, 2011, the national resources table of Kyrgyz Republic stated that the Taldy-Bulak Levoberejny field contains (C1 plus C2) 8,906,100 tonnes of gold ore (the average grade is 7.23 grams per tonne) and the gold metal volume is 64,420.5 kilograms, among which, the C1 grade (initial mining reserve) is 4,949,754 tonnes of gold ore (the average grade is 7.02 grams per tonne) and the gold metal volume is 34,754.6 kilograms."

Nevsun Resources Ltd. (NYSE: NSU) (TSX: NSU.TO) is the 100% owner of the high-grade copper-gold Timok Upper Zone in Serbia and 60% owner of the high-grade copper-zinc Bisha Mine in Eritrea. On April 4th the company announced new assay results from on-going drilling at Harena.  These results include in-fill drilling of large gaps in the resource model, as well as new results from the testing of Harena at depth. Nevsun is also pleased to report that the 6,386 line kilometer VTEM (Versatile Time Domain Electromagnetic) airborne survey has been completed over an 825 square kilometer licensed area at Bisha. Cliff Davis, Nevsun CEO, commented, "The new drilling demonstrates that the already sizeable Harena resource extends 150 meters beyond its currently modelled limits, further enhancing the potential for underground mining.  We are particularly encouraged by the increasing copper content which indicates the mineralizing system is strengthening."

Eldorado Gold Corp. (NYSE: EGO) (TSX: ELD.TO) announced recently that it has received multiple tenders for significantly better concentrate sales terms for material produced beyond 2017. Under the new sales terms, gold payability rates have increased from 58% up to a maximum of 71%, which is expected to result in an increase of approximately 15,000 ounces of payable gold production per year. Annual Phase II production is now estimated to be approximately 85,000 ounces of gold (from 72,000 ounces per year previously) plus approximately 55,000 ounces of gold equivalent production. 

Yamana Gold Inc. (NYSE: AUY) (TSX: YRI.TO) back in October 2016 has announced that it has completed the sale to Premier Gold Inc. ('Premier') of its Mexican subsidiaries through which the Mercedes mine is held. Pursuant to the transaction, the Company received total consideration of $122.5 million in cash plus shares, equity securities and net smelter return royalties having an additional value of approximately $22 million. The marketable securities received include 6 million common shares of Premier and 3 million common share purchase warrants of Premier that are exercisable at C$4.75 per common share for 24 months. The Company also received a 1.0% net smelter return royalty on the Mercedes mine, that becomes payable upon the earlier of six years from the completion of the sale and the date upon which cumulative production of 450,000 ounces of gold equivalent from Mercedes has been achieved, as well as a 2.0% net smelter return royalty on the La Silla property in Sinaloa, Mexico and the La Espera property in Sonora, Mexico.

B2Gold Corp. (NYSE: BTG) (TSX: BTO.TO) announced this February, the positive exploration results for its Kiaka and Fekola projects in West Africa (Burkina Faso and Mali, respectively). All dollar figures are in United States dollars unless otherwise indicated. Following recent successes by the regional exploration programs in Burkina Faso and Mali, B2Gold has budgeted $19.95 million in 2017 for ongoing exploration of the Company's West African projects, an increase of $2.65 million over the 2016 budget.

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