Gold Prices Edge up on Global Political Uncertainties

NEW YORK, April 17, 2018 /PRNewswire/ --

Gold prices increased in value early Monday despite the dollar and equity markets holding strong. Missile strikes against Syria by the United States, France and Britain were considered a one-off event and little fear in the market. Data provided by Reuters indicates that Spot gold was up 0.1 percent at $1,346.1 an ounce as of 0115 GMT after an initial dip, and U.S. gold futures rose 0.1 percent to $1,349.2 an ounce. Gold is considered as a safe-haven asset during times of political uncertainty. Bonterra Resources Inc. (OTC: BONXF), Agnico Eagle Mines Ltd (NYSE: AEM), IAMGOLD Corp (NYSE: IAG), Sibanye Gold Ltd (NYSE: SBGL), B2Gold Corp (NYSE: BTG)

According to the bullionvault, the latest weekly analysis from strategist Jonathan Butler at Japanese conglomerate Mitsubishi explains that, "We have certainly not heard the last about [US-China] trade wars, but for now the markets could remain focused on the threats of actual wars… Such tensions can quickly be priced out if the situation eases...[but] just as crude oil prices have taken strength from the current geopolitical situation, rising to a 3-year high on fears of Middle East supply interruption, so too we expect precious metals to remain well supported as traditional safe havens."

Bonterra Resources Inc. (OTCQX: BONXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: BTR). Earlier today the company announced breaking news that, "it has received highly positive results for its preliminary metallurgical testwork, which forms part of its ongoing Resource Development Program at its 100% controlled Gladiator Gold Deposit in Quebec, Canada. Results to date show total gold recoveries of up to 99.4%, including 76.1% from the Gravity circuit.

"The outstanding metallurgical results, when compared to the overall average lower recoveries within our industry peer group, are a significant milestone for the Gladiator Gold Deposit. The exceptional gravity recovery rates of up to 76.1%, combined with a simple flotation circuit, may reduce capital requirements related to a future potential milling operation," commented Nav Dhaliwal, CEO of Bonterra. "Potentially not requiring a cyanide leaching circuit minimizes the environmental footprint of any future mining operation and could also improve potential future process economics of the project."

Highlights and Observations:

• The combination of gravity and gravity-cyanide tests resulted in significant gold recoveries of 99.0% to 99.4%.
• The combination of gravity and gravity-tail flotation tests resulted in significant gold recoveries of 96.8% to 97.3%.
• Excellent gravity concentrate recoveries, ranging from 68.3% to 76.1%, are well above the average of Bonterra's industry peers and confirm the presence of a significant amount of free gold in the mineralized system.
• Average >70% of the gold reported to the Gravity circuit at all grinding test sizes, indicating substantial potential capital and operating savings in the grinding circuits.
• A cyanide leaching circuit may not be required, noting the high recovery of the gold from the gravity and gravity-tail flotation tests.
• Head assay results from the metallurgical testing ranged from 8.0 g/t Au to 10.0 g/t Au and showed excellent grade reconciliation with initial drill hole assays.

"As expected, preliminary metallurgical test results confirmed excellent gold recoveries. On average, greater than 70% of the gold reports to the gravity circuit at all grinding sizes, which potentially contributes to substantial capital reductions in the grinding circuits, potential lower reagent consumption, and highlights an opportunity for significant savings in the future processing parameters at Gladiator," commented Peter A. Ball, VP Operations. "The simple metallurgy, consisting of potentially only a crushing and grinding circuit to achieve 76.1% recovery, provides a low CapEx/OpEx process to pour gold bullion on site. Adding a flotation circuit could yield up to 97.3% recovery and deliver a very high grade gold concentrate, making material very compatible and easily transported to a local or a centralized standard milling facility."

ALS Metallurgy ("ALS") of Kamloops, British Columbia, was contracted to complete Gravity Concentration, Flotation and Cyanide leach testing for the Gladiator Gold Deposit. The studies included grind optimization, gravity separation, flotation, and cyanide leach testing, and were intended to provide an initial look at the characteristics of mineralization to help guide future optimization test work and processing flow sheet specifications. Overall, the metallurgical testing and microscopic analysis indicate that the mineralization is relatively simple with no deleterious elements, and pre-concentration could potentially be achieved by a low capital intensive processing sequence, which will likely include crushing, grinding, gravity concentration and flotation. The process is a relatively benign one, and also offers potential environmental permitting advantages, as well as significant savings in transportation costs. These results are part of an ongoing comprehensive metallurgical program designed to define the processing parameters, establish grade-recovery relationships and optimize gold recovery for a potential future Gladiator milling facility."

Agnico Eagle Mines Ltd (NYSE: AEM) that it has acquired 1,740,500 units ("Units") of Orla Mining Ltd. at a price of $1.75 per Unit for total consideration of $3,045,875. Each Unit is comprised of one common share of Orla (a "Common Share") and one-half of one common share purchase warrant of Orla. Each Warrant entitles the holder to acquire one Common Share at a price of $2.35 at any time prior to February 15, 2021. Agnico Eagle acquired the Units pursuant to a public offering of Units by Orla under a short form prospectus (the "Offering"). The Offering closed on February 15, 2018. Prior to the closing of the Offering, Agnico Eagle owned 15,873,335 Common Shares, representing approximately 9.86% of the issued and outstanding Common Shares on a non-diluted basis.

IAMGOLD Corp (NYSE: IAG) announced this month that it has obtained a receipt for a final short form base shelf prospectus further to its filing of a renewed preliminary short form base shelf prospectus, previously announced on March 14, 2018. Both documents have been filed with the securities regulators in each province and territory of Canada, except for the Province of Quebec, and a corresponding registration statement with the United States Securities and Exchange Commission. These filings will allow the Company to make offerings of common shares, first preference shares, second preference shares, debt securities, warrants, subscription receipts or any combination thereof of up to US$1 billion during the next 25 months in the United States and Canada, except for the Province of Quebec.

Sibanye Gold Ltd (NYSE: SBGL) is an independent, global precious metal mining group, producing a unique mix of metals that includes gold and the platinum group metals. In a technology-focused partnership that will help make mines safer and more productive, Sibanye-Stillwater and the Wits Mining Institute (WMI) at the University of the Witwatersrand, earlier in March launched the Sibanye-Stillwater Digital Mining Laboratory. Sibanye-Stillwater CEO, Neal Froneman, highlighting the importance of the mining industry harnessing the fourth industrial revolution and fully benefitting from advances in digital technology through close ties with research institutions, remarked, "The launch of the DigiMine establishes a unique programme that is instrumental for the application of digital technologies in support of safer and more efficient mining operations."

B2Gold Corp (NYSE: BTG) last week reported its gold production and gold revenue for the first quarter of 2018. All dollar figures are in United States dollars unless otherwise indicated. B2Gold is well on target to achieve transformational growth in 2018. For full-year 2018, with the planned first full year of production from the Fekola Mine, consolidated gold production is forecast to be between 910,000 and 950,000 ounces. This represents an increase in annual consolidated gold production of approximately 300,000 ounces in 2018 from 2017. The Company's forecast consolidated cash operating costs are expected to remain low in 2018 and be between $505 and $550 per ounce, and AISC are expected to decrease by approximately 6% from 2017 and be between $780 and $830 per ounce.

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