Gold prices could see $1,800 before year-end. At the moment, the yellow metal is up to $1,787 and moving, as investors anticipate slower rate hikes from the Federal Reserve. In fact, Fed Chairman Jerome Powell already said the central bank could moderate the pace of interest rate hikes as soon as December. “It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down,” Powell said in a speech at the Brookings Institution, as quoted by CNBC. “The time for moderating the pace of rate increases may come as soon as the December meeting.” 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. announced the first results from step-out drilling along the Panteon North/VTEM geophysical corridor within the Limon Mine Complex. These new intercepts are from drilling designed to test the multi-kilometre long structure identified by our 2022 VTEM geophysical survey first released on June 27, 2022 (see news release here). Today’s results are located approximately 2.5 kilometres north of Panteon North which has had numerous bonanza grade gold intercepts to date as evidenced in our most recent press release here. Panteon North is expected to contribute positively to the Company's 2022 Resource and Reserve statement expected in Q1, 2023.
Initial Drilling Results along the Panteon/VTEM Corridor include:
- 11.61 g/t Au over 9.3 metres Estimated True Width including 23.93 g/t Au over 1.7 metres ETW, and 15.34 g/t Au over 3.9 metres ETW in Hole LIM-22-4701;
- 6.73 g/t Au over 2.1 metres ETW in Hole LIM-22-4689;
- 3.67 g/t Au over 2.6 metres ETW including 11.10 g/t Au over 0.7 metres ETW in Hole LIM-22-4684.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “Our 2022 drilling campaign has been very successful, with the discovery of the high-grade Panteon North gold shoot which hosts numerous bonanza grade gold intercepts over hundreds of metres of strike length. First pass, wide spaced drilling approximately 2.5 kilometres north of Panteon North along the VTEM geophysical corridor has now discovered another new high-grade gold zone which stretches over an initial 1.5-kilometre trend (see figures). The VTEM survey, first released on June 27, 2022 (see news release here) has proven to be an excellent tool for targeting zones of high-grade gold mineralization along multiple kilometers of strike from Panteon North. Discovery drilling is underway with four diamond drill rigs along the corridor.”
Other related developments from around the markets include:
Barrick Gold Corporation announced the declaration of a dividend of $0.15 per share for the third quarter of 2022. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of the year. The Q3 2022 dividend will be paid on December 15, 2022 to shareholders of record at the close of business on November 30, 2022. In addition to the enhanced dividends declared so far in 2022, Barrick has continued to repurchase shares under the share buyback program that was announced in February of this year. As of the end of Q3, Barrick has repurchased 18 million shares1 under the program, or approximately 1% of Barrick’s issued and outstanding shares at the time the program was announced, for net cash of $322 million, including $141 million paid during Q3 2022.
Newmont Corporation announced that its Board of Directors declared a dividend of $0.55 per share of common stock for the third quarter of 2022, payable on December 29, 2022 to holders of record at the close of business on December 8, 2022. “With this dividend declared, Newmont will have returned nearly $4 billion since the introduction of our dividend framework, clearly demonstrating our commitment to returning cash to our shareholders with a proven track record of doing so,” said Tom Palmer, President and CEO.
B2Gold Corp. announced that its Board of Directors has declared a cash dividend for the fourth quarter of 2022 of $0.04 per common share (or an expected $0.16 per share on an annualized basis), payable on December 16, 2022, to shareholders of record as of December 7, 2022. As part of the long-term strategy to maximize shareholder value, B2Gold expects to declare future quarterly dividends at the same level. This dividend is designated as an "eligible dividend" for the purposes of the Income Tax Act (Canada).
Equinox Gold Corp. announced its third quarter 2022 summary financial and operating results. The Company’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2022 will be available for download on SEDAR. Greg Smith, President and CEO of Equinox Gold, commented: “As expected, gold production in the third quarter increased meaningfully from production in the second and first quarters. Costs, however, were higher than expected as the result of persistent global inflationary pressures coupled with lower than planned production. We are reviewing mine plans across the portfolio with a focus on improving productivity while managing costs. Based on production to date, we expect full-year production to be approximately 540,000 ounces of gold and costs to exceed the upper end of guidance by approximately five percent.
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