Investors may want to push back into gold. “The gold market still has a path to push above $2,000 an ounce even as the Federal Reserve continues to aggressively raise interest rates throughout the year, according to commodity analysts at the French investment bank Societe Generale,” as noted by Kitco.com. “In the bank's latest commodity outlook, published Wednesday, the analysts raised their gold prices forecast and see the precious metal averaging around $2,100 by the third quarter of 2022. The analysts said that the most significant factor dominating the gold market remains real interest rates.” That could be great news for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), B2Gold Corp. (TSX: BTO) (NYSE: BTG), and Equinox Gold Corp. (TSX: EQX) (NYSE: EQX).
Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example
Calibre Mining Corp. reported additional high-grade drill results from its Panteon North zone within the Limon Mine Complex, part of the Company’s 85,000 metre resource expansion and discovery drilling program.
Additional High-Grade Drill Results from Panteon North
- 66.03 g/t Au over 5.6 metres Estimated True Width (“ETW”), including 167.27 g/t Au over 2.3 metres and 14.95 g/t Au over 1.9 metres ETW in Hole LIM-22-4630;
- 30.33 g/t Au over 5.0 metres ETW, including 40.62 g/t Au over 3.8 metres in Hole LIM-22-4628;
- 22.55 g/t Au over 4.9 metres ETW, including 68.51 g/t Au over 1.7 metres in Hole LIM-22-4632;
- 17.58 g/t Au over 2.4 metres ETW, including 28.67 g/t Au over 1.9 metres in Hole LIM-22-4627; and
- 4.66 g/t Au over 1.7 metres ETW, including 8.20 g/t Au over 0.8 metres in Hole LIM-22-4637.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am excited by these exceptionally high-grade drill results from the Panteon North zone, located one kilometre northwest of the high-grade producing Panteon underground mine, as they continue to present significant opportunities for discovery and resource growth within the Limon Mine Complex. Panteon North is open down plunge and along strike to the northwest for further expansion. These results are considerably higher grade than we expected, especially considering the underground reserve grade at Panteon of 7.17 g/t Au. This drilling reinforces our grade driven production growth strategy, though important to note that the high-grade Panteon North discovery was not considered in our recent multi-year production outlook (see news release here).
“Calibre recently completed a VTEM geophysical survey within the Limon Mine Complex which, after review of the data, clearly demonstrates a significant opportunity for additional discovery and resource expansion along both the Panteon and Santa Pancha vein trends. The Santa Pancha vein system historically produced over 1.3 million ounces over a strike length of 2.5 km, where the majority that gold was discovered along the VTEM resistivity low/high contract, which can be viewed here or in the figures linked below. The VTEM resistivity low/high contact has been traced for over 6.0 km from current drilling on both the Santa Pancha and Panteon vein systems and represents a high-priority exploration and resource building opportunity for the Company. Calibre has five active rigs at Limon and will continue to follow both trends with the new exploration data.”
Other related developments from around the markets include:
Barrick Gold Corporation announced a $0.20 per share quarterly dividend, the first to include a $0.10 per share performance component in line with its new dividend policy. President and chief executive Mark Bristow said the Company’s net cash balance at the end of Q1 stood at $743 million, reflecting cash flow from the operations, the continuing sale of non-core assets, and its share of a further $0.6 billion in cash distributions by Kibali. Since agreement on the repatriation of revenue from Kibali was reached with the Democratic Republic of Congo (DRC) last year, Kibali has delivered $1.2 billion (on a 100% basis) in the form of dividends and debt repayments, inclusive of distributions received subsequent to March 31, 2022.
Newmont Corporation has closed a transaction with Skeena Resources Limited to acquire certain properties located in Tahltan Territory in northwestern British Columbia. Newmont will work in collaboration with the Tahltan Nation, the Iskut community and the British Columbia government to make available portions of the acquired properties to support the land use planning objectives of the Tahltan Nation and the Iskut community. “We are committed to sustainable resource development and developing a world class mining jurisdiction while protecting and conserving lands that are important to the Tahltan Nation and the Iskut community,” said Newmont President and CEO Tom Palmer. “The mining claims around Iskut are not being purchased for development or their mineral potential, but in an effort to address concerns raised through our engagement with the Tahltan Nation.”
B2Gold Corp. announced that it has published its sixth annual Responsible Mining Report entitled "Raising the Bar", which details B2Gold's global economic contributions and its environmental, social, and governance management practices, together with the Company's performance against key indicators in 2021. In announcing the release of the Report, Clive Johnson, President & CEO of B2Gold, states "in reflecting on 2021 and its continued challenges, from the ongoing COVID-19 pandemic, to social or political unrest, to the effects of climate change around the globe, I have asked myself how we as a company have managed to navigate and adapt while still meeting our targets and goals. It has become clear to me that the answer always comes back to B2Gold's core values of fairness, respect, transparency and accountability."
Equinox Gold Corp. announced that further to its press release dated May 16, 2022, approval for the tailings storage facility raise at its RDM Mine in Brazil has been received. The TSF raise contractor is mobilizing equipment to begin the raise in early June. Equinox Gold expects that full operations will resume by mid-July. Equinox Gold will update RDM guidance with its Q2 2022 disclosures in the first week of August.
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