Will the Scarcity of Gold Lead to Positive Gains Over Next 10 Years
April 07, 2021 at 08:45 AM EDT
Palm Beach, FL – April 7, 2021 – Gold is one of the most well established and mature markets around when it comes to investable assets. It has been an important commodity in the past, and it has its major uses in electronics and jewelry, but as a market, it is often seen as a great safe haven for a number of reasons. Because gold has been seen as a valuable asset for thousands of years, it has always been desired and in demand, but it is in more recent history that the market has grown to be what it is today, and what it is today is a rather mature and stable market. The fact that gold works as a safe haven asset, one that often moves in anti-correlation to the traditional markets, means that the commodity is a great hedge against financial troubles, but it is also an asset that has shown steady and solid growth in value for a long time. Gold is not an asset that is prone to big price swings, or high volatility, but it is known to almost constantly be growing as its uses and market desire keep growing. Also, the fact that Gold is an asset that is scarce, but with an uncertain supply, means the markets are often worth watching and forecasting gold prices for the next 10 years can often lead to positive gains over this long period of time. Active stocks in the mining markets this week include Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Clarity Gold Corp. (OTCPK: CLGCF) (CSE: CLAR), Newmont Corporation (NYSE: NEM) (TSX: NGT), Osisko Mining Inc. (OTCPK: OBNNF) (TSX: OSK), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM).
A report from industry insider, PRIME XBT made several predictions for Gold’s future. They said that: “The gold price prediction today, and the gold price forecast 2021 looks like it could be a really positive one, and it also comes off the back of a really good year in 2020 for the precious metal which had many geo-political factors impact its price and its growth in an upward trend. Currently, the gold price is increasing because there is a clear need for a safe haven investment. We have seen Federal rate cuts, and the stock markets tanking. This has seen investors look to move their money into more secure investments, and gold is one of the best such investments. It continued: “Now is probably one of the best times to buy gold. It has been on a bullish run for almost a year but instead of turning around it is expected to accelerate because of the fall out of the Covid-19 pandemic. Having already grown by a few hundred dollars in the first quarter of 2021, it is expected that gold’s price will grow even quicker for the next few quarters.”
Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) BREAKING NEWS: CLARITY GOLD MOBILIZES SECOND RIG FOR ONGOING DRILL PROGRAM IN QUEBEC – Clarity Gold Corp. (“Clarity” or the “Company”) is pleased to report that it has begun mobilizing a second drill rig to the Destiny Project in the Abitibi. The rig will commence operations at the GAP Zone, a coarsely drilled zone along strike and east of the DAC Zone. The drill will be tasked with completing several holes designed to infill historic drilling and test the GAP Zone at depth. Salient results from previous drilling in the GAP Zone include 16.1 g/t Au over 6 m from 85.5 m including 90.3 g/t Au over 1 m.
“We are very excited to bring a second drill rig into our ongoing program,” said James Rogers, CEO of Clarity. “As exploration progresses, the addition of the second drill rig will increase efficiency allowing the company to more rapidly complete the planned program.”
About the Destiny Project
Drilling results include:
The Historical Estimate at the DAC Zone is open along strike with only coarse drilling denoting high grade intercepts outside of the 2011 Historical Estimate area showing expansion potential along strike from the DAC Zone over approximately 2.5 km to the Darla Zone.
Excellent infrastructure – ~75 km NNE of Val d’Or with road access. Considerable work done historically including over 50,000 m of diamond drilling.
The Destiny Project is located in the prolific Abitibi Greenstone Belt where more than 190 million ounces of gold have been produced historically along major structural breaks within the assemblage of Archean-age volcanic, sedimentary and intrusive rocks. The Destiny Project lies along the approximately 400 km long Chicobi Deformation Zone, a major structural break which is largely underexplored in the Abitibi Greenstone Belt.
The 5,013 ha project includes the DAC Zone, one of several gold zones along an approximately 6 km long segment of the Despinassy Shear Zone within the Chicobi Deformation Zone. Approximately 2.5 km east along strike of the DAC Zone is the Darla Zone. In between the Darla and DAC is the coarsely drilled GAP zone where 2012 drilling intercepted anomalous gold in all 12 holes which were spaced 100 m apart.
The current exploration potential is based on decades of past work on the Destiny Project. Exploration of the Destiny Project dates back to the 1930s. The first concerted diamond drilling campaign commenced in 1998. Read this entire release for the Clarity Gold at: https://claritygoldcorp.com/news/
Other recent developments in the mining markets include:
Osisko Mining Inc. (OTCPK: OBNNF) (TSX: OSK) recently provided new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile.
Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) notes the statement released by Papua New Guinea prime minister James Marape announcing an imminent agreement to reopen Porgera mine. Barrick and the Government of Papua New Guinea have continued to hold constructive discussions on a framework agreement for the recommissioning of Porgera, which has been on care and maintenance since April 2020.
The agreement under discussion is in line with the principles announced in October, providing for a joint venture between Barrick Niugini Limited (BNL) and the government of PNG to operate Porgera going forward on the basis of increased PNG ownership and a fair sharing of economic benefits. BNL would continue as the operator of the mine. We remain hopeful that we will reach agreement with the PNG Government on a long-term partnership that will see the reopening of Porgera in the near future. A further statement will be issued once a final agreement is achieved.
Newmont Corporation (NYSE: NEM) (TSX: NGT) recently announced that it has executed an industry-leading $3.0 billion sustainability-linked revolving credit facility. The credit facility includes a pricing feature based upon third-party sustainability performance measures and includes overall improved pricing from the previous facility. This new credit facility expires in March 2026, amending and extending the credit facility executed in 2019.
“Our sustainability-linked credit facility further demonstrates Newmont’s unwavering commitment to industry-leading environmental, social and governance (ESG) practices,” said Newmont President and CEO Tom Palmer. “Our sustainability framework is at the core of what we do, and we believe that strong ESG performance is a key indicator of a well-managed business. By aligning our financial performance and our ESG performance, we are holding ourselves accountable to delivering on our purpose to create value and improve lives through responsible and sustainable mining.”
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) recently announced that it will host its 2021 Annual and Special Meeting of Shareholders (the “AGM”) virtually on Friday, April 30, 2021. In addition, the Company today announced the appointment of Leona Aglukkaq to the Company’s board of directors, the release of its first quarter 2021 results on Thursday, April 29, 2021, after normal trading hours, and the filing of a technical report for Canadian Malartic.
The Honourable Leona Aglukkaq, P.C., has been appointed to the Board of Directors effective as of March 11, 2021. Ms. Aglukkaq is a highly-experienced politician and government administrator from the Kitikmeot Region of Nunavut. She was first elected as a Member of Parliament in 2008 and, in 2009, became the first Inuk in Canadian history to be appointed to the Federal Cabinet (as Minister of Health). In addition to her Federal government experience, Ms. Aglukkaq has broad public government exposure, including international diplomatic experience as Chair of the Arctic Council (2012-2015). Most recently, Ms. Aglukkaq served on the board of directors of TMAC Resources Inc., until its acquisition by Agnico Eagle on February 2, 2021.
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