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Could Gold be at Good Entry Point Amid Wide-Spread Volatility of the Global Economy

Palm Beach, FL – (October 17, 2018) – Gold has remained a steady and constant safety net in the economic world as the global economy becomes increasingly tumultuous due to a number of political and societal affairs. A volatile market has typically been a variable that has had positive effects on gold and the current climate is no exception. Considering the circumstances, gold mining leaders are aiming to capitalize on the current environment. Gold recently broke above the $1230 price point this week and will be looking to continue carrying forward that momentum. Some believe incremental downside catalysts are beginning to dwindle and that gold could be in the process of getting its legs under itself prior to a material move higher. There are also plenty of opportunity for some mining plays with silver and zinc adding value to overall deposits, some even adding up to or more than 30% increase in valuations.     Active miners from around the market with current developments this week include:  U.S. Gold Corp. (NASDAQ:USAU), AngloGold Ashanti Limited (NYSE:AU), IAMGOLD Corporation (NYSE:IAG), Barrick Gold Corporation (NYSE:ABX), Kinross Gold Corporation (NYSE:KGC).

 

U.S. Gold Corp. (NASDAQ:USAU) BREAKING NEWS:  U.S. Gold today is pleased to announce the results of the recent eight-hole reverse circulation drilling program that followed up the discovery of this mineralization in last year’s drill hole CK17-01rc, reported January 30, 2018.  These eight new holes (see Table 1 below) indicate that the Copper King mineralization extends to the west, at least 200 meters, and maintains the historically measured and reported widths and depth to the deposit (see updated Copper King deposit map link below).

 

Dave Mathewson, Vice President of Exploration for U.S. Gold Corp., stated, “Our 2018 drill program at Copper King has added additional mineralization to the project.  Copper King has had a long history of several exploration programs conducted by numerous companies, but U.S. Gold Corp. is the first company to significantly expand the potential in many years.  The more time I spend on the Copper King property and looking at the data, the more I am convinced that we can continue to increase the overall metal endowment of the project.  We are looking forward to populating the DataMine exploration model with all the historic; and this recent exploration drilling information.  We will utilize this new updated digital exploration model to assist us with identifying additional Copper King deposit extensions and high-grade target zones within the deposit.  We are also currently re-examining all existing area exploration data for the purpose of identifying additional new target opportunities in the area.”

 

Prior to this recent drilling, and these reported results, an updated Preliminary Economic Assessment (PEA) for the historic Copper King deposit was conducted by Mine Development Associates (MDA) and reported January 11, 2018.  This PEA provided a Pre-Tax NPV of $178.5 million and an IRR of 33.1%, based on $1275/oz Au and $2.80/lb Cu.  This recent drilling has enlarged the deposit size and metal content.  The PEA also does not include the values of other metals inherent to the deposit, including zinc and silver. See a full chart and read this and more news for U.S. Gold at:  http://www.financialnewsmedia.com/news-usau

 

In other industry developments and happenings in the market this week include:   

  

AngloGold Ashanti Limited (NYSE:AU) recently announced it has reached agreement on wage increases for the next three years, as well as a new shift arrangement with trade unions representing the majority of its employees in South Africa. The deal, signed on Monday, 17 September 2018, is another step in an important process to improve pay for its employees – particularly those at the entry level – while providing certainty as it works to return its business in the country to profitability. “We are pleased to have reached this agreement after robust but constructive talks with the unions who represent most of our employees in South Africa,” Chris Sheppard, AngloGold Ashanti’s Chief Operating Officer: South Africa, said. “The new shift arrangement is an important factor, as it provides an opportunity for us to realise improvements in productivity and Safe Production, which are essential to the long-term sustainability of the business.” The agreements were signed by the Association of Mining and Construction Union (AMCU), which represents 48.9% of AngloGold Ashanti’s workforce in South Africa, as well as Solidarity, which represents 3.7% and the UASA the Union, which represents 9.4%. Talks are ongoing with the National Union of Mineworkers, which represents 32.8% of AngloGold Ashanti’s employees in South Africa. Non-union members account for 5.1% of the Company’s South Africa staff complement.

 

IAMGOLD Corporation (NYSE:IAG) will release its third quarter 2018 financial results after market hours on Tuesday, November 6th, 2018.  – CONFERENCE CALL – A conference call will be held on Wednesday, November 7th, 2018 at 8:30 a.m. (Eastern Time) for a discussion with management regarding the Company’s operating performance and financial results for the third quarter 2018.  A webcast of the conference call will be available through the Company’s website at www.iamgold.com.  –  Conference Call Information: North America Toll-Free: 1-800-319-4610 or International number: 1-604-638-5340.

 

Barrick Gold Corporation (NYSE:ABX) announced late last month that it has entered into a mutual investment agreement with Shandong Gold Group Co., Ltd. (“Shandong Gold”), further strengthening Barrick’s partnership with one of China’s leading mining companies.  Under the Agreement, Shandong Gold will purchase up to $300 million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co., Ltd., a publicly listed company controlled by Shandong Gold. Shares will be purchased in the open market.  “This mutual investment is another reflection of the deepening partnership between our two companies,” said Barrick Executive Chairman John L. Thornton.

 

Kinross Gold Corporation (NYSE:KGC) in the news: White Gold Corp. is pleased to announce that a new shallow zone of gold mineralization has been discovered on trend with the Golden Saddle deposit at the Golden Saddle West (“GS West”) target on its White Gold property, Yukon. The GS West target is located approximately 750m west of the Golden Saddle deposit, along a structural trend containing several other targets, including the high-grade Ryan’s Showing discovery announced September 6, 2018. Step out and infill drilling at Golden Saddle has also continued to return significant results, expanding the footprint and definition of the deposit.  The Company is also currently drilling at its JP Ross property to follow up on the high-grade Vertigo discovery as part of its fully funded regional exploration program backed by partners Agnico Eagle Mines Limited  and Kinross Gold Corp (TSX: K, NYSE: KGC). Additional results will be released in due course, along with further results from the additional testing performed along trend with the Golden Saddle Deposit on its White Gold property including the Ryan’s Showing discovery.

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 release issued by U.S. Gold 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.

 

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

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