PALM BEACH, Fla., Jan. 21, 2021 /PRNewswire/ -- Historically, in times of global crises, gold, as a safe haven, has performed positively, and2020 was no exception. An article in CNBC said that Gold… rallies could continue into the new year… The precious metal closed (its) best year since 2010… following a year of unprecedented volatility brought on by the Covid-19 pandemic. It said: "Barring some minor hurdles, the new year could bring new records for(gold), Matt Maley, chief market strategist at Miller Tabak, told CNBC's "Trading Nation". IBISWorld added: "Since the first COVID-19 (coronavirus)-related death was recorded in January 2020 in China, many investors have sought protection in safe haven assets to protect their portfolios from market volatility. As a result, gold prices have risen to historic levels...The Gold Mining industry's performance may still be uncertain in the short term, but remains largely optimistic as higher gold prices bolsters revenue… Industry operators in Nevada and Alaska, the two prime locations for industry establishments, have largely been able to remain operational. Profit is expected to rise on higher precious metal prices and persistently low oil prices, which represents one of the industry's most substantial costs. Active stocks in the mining markets this week include Golden Independence Mining Corp. (OTCQB: GIDMF) (CSE: IGLD), Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Pretium Resources Inc. (NYSE: PVG) (TSX: PVG).
Yet another article (from Capital.com) addressed gold's potential for 2021 saying: "During times of monetary easing, investors tend to switch from the US dollar to gold as the hedge against inflation, also adding to the value of the precious metal. Another important factor that will determine gold prices in the future, at least in the near term, is the coronavirus itself. The second wave has already hit the world, with the number of cases rising daily and many countries reinstituting lockdowns; this, in turn, weighs negatively on already struggling economies. If governments decide on a fresh dose of fiscal and monetary stimulus, the yellow metal could continue being the big beneficiary of the Covid-19 crisis." It concluded: "In their gold price forecast published recently, analysts at Goldman Sachs maintained their bullish outlook for the upcoming year, setting their price target for the metal at $2,300 per ounce: "In our view, the structural bull market for gold is not over and will resume next year as inflation expectations move higher, the US dollar weakens."
Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) BREAKING NEWS: GOLDEN INDEPENDENCE INTERSECTS 1.11 G/T GOLD AND 7.8 G/T SILVER OVER 20 FEET AT INDEPENDENCE PROJECT - Golden Independence (the "Company") is pleased to announce initial drill results from its recently completed 2020 resource expansion drill program at the Independence project, south of Battle Mountain, Nevada. Results from the first 3 reverse circulation (RC) holes drilled include:
>> 0.45 g/t gold and 3.3 g/t silver over 110 feet (33.5 metres) including 1.11 g/t gold and 7.8 g/t silver over 20 feet (6.1 metres)
>> 0.57 g/t gold and 3.1 g/t silver over 55 feet (16.8 metres)
>> 0.42 g/t gold and 6.8 g/t silver over 80 feet (24.4 metres)
"The initial assay results fall in range with Company expectations and historic results," commented Golden Independence President Tim Henneberry. "Longer intervals of + 0.5 g/t gold, containing sub-intervals of + 1 g/t gold meet the objective of expanding the mineralized footprint at Independence to increase the historic oxide resource," he continued.
"These initial assay results support our belief that we will be able to significantly expand the historic oxide resource at the Independence project in the near term." remarked Golden Independence CEO Christos Doulis. "During Q1 2021, we anticipate receiving assay results from an additional 20 RC holes recently drilled at the Independence project culminating in an NI 43-101 complaint resource for the Independence project at the end of the quarter." Read this entire release for the Golden Independence news at: https://www.financialnewsmedia.com/news-igld/
Other recent developments in the mining markets include:
(NYSE: NEM) (TSX: NGT)
its Board of Directors has approved a share repurchase program for up to $1.0 billion of common equity, to be completed over the next 18 months. The program will be executed at the Company's discretion, utilizing open market repurchases to occur from time to time throughout the authorization period, and is in addition to Newmont's industry-leading dividend framework.
Newmont's capital allocation philosophy balances steady reinvestment in the business, maintaining financial strength and flexibility, and providing leading returns to shareholders. Recently, the Company announced an industry-leading dividend framework, which includes a sustainable base dividend and additional returns at higher gold prices. The share repurchase program builds on the $1.0 billion 2020 program, which retired 22 million shares at an average price of $45 per share.
Kinross Gold Corporation (TSX: K) (NYSE: KGC) will release its 2020 fourth-quarter and full-year financial statements and operating results on Wednesday, February 10, 2021, after market close. The Company will also provide its full-year 2021 guidance, mineral reserve and mineral resource statement as of December 31, 2020, and an exploration and project update. Kinross will hold a conference call and audio webcast on Thursday, February 11, 2021 at 8 a.m. ET to present the results, followed by a question-and-answer session.
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) and TMAC Resources Inc. (TSX: TMR) ("TMAC") recently announced that they have entered into agreements pursuant to which Agnico Eagle has agreed to acquire all of the outstanding common shares of TMAC (the "Transaction") at a price of C$2.20 per share (the "Offer Price") in cash, which represents an increase of C$0.45 per share as compared to the offer price of C$1.75 offered by Shandong under the original Arrangement Agreement, as further described below.
The Transaction is being effected by way of assignment to Agnico Eagle of the arrangement agreement dated May 8, 2020 (the "Arrangement Agreement") among TMAC, Shandong Gold Mining (HongKong) Co., Limited and its affiliate Streamers Gold Mining Corporation Limited (collectively, "Shandong") and Shandong Gold Mining Co., Ltd. (together with Shandong, the "Shandong Parties") in accordance with an assignment, assumption and novation agreement among the Shandong Parties, TMAC and Agnico Eagle dated January 4, 2021 (the "Assignment Agreement") and the amendment of the Arrangement Agreement under an amending agreement between Agnico Eagle and TMAC dated January 4, 2021 (the "Amending Agreement"). The arrangement was approved by 97.08% of the votes of TMAC shareholders that were represented at the special meeting held on June 26, 2020; there will be no further shareholders' meeting in connection with the Transaction.
Pretium Resources Inc. (NYSE: PVG) (TSX: PVG) recently announced the results of the 2020 regional grassroots exploration program, including a discovery at the Hanging Glacier Zone, and plans for the Company's 2021 exploration programs.
The 2020 regional grassroots exploration program included 25,350 meters of diamond drilling completed in four mineralized zones across the 1,200-square kilometer property that surrounds the Brucejack Mine. The highlight from the program was the discovery of epithermal-style gold mineralization in the Hanging Glacier Zone, located four kilometers northwest from the Brucejack Mine. This new zone of gold mineralization demonstrates the district-scale potential at Brucejack. See Table 1 below for assays from the 2020 program.
"This exciting discovery at Hanging Glacier, only four kilometers from the Brucejack Mine, shows the district-scale potential at Brucejack," said Jacques Perron, President and Chief Executive Officer of Pretivm. "We will significantly increase our resource expansion and exploration efforts in 2021 so we can surface value by extending mineral resources and pursuing the prospects for additional gold mineralization immediately surrounding the Brucejack Mine."
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty six hundred dollars for news coverage of the current press releases issued by Golden Independence Mining Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: [email protected] - +1(561)325-8757