Analysts are Starting to Get Bullish on Gold Again

March 22, 2021 -

Don’t count out gold just yet. At the moment, it may appear to be one of the most hated metals on the market, but it’s become aggressively oversold on a pullback from $1,950 to $1,676. That’s great news for companies such as West Mining Corp. (CSE:WEST) (OTC:WESMF), Wheaton Precious Metals Corp. (NYSE:WPM), Kirkland Lake Gold Ltd. (TSX:KL)(NYSE:KL), Kinross Gold Corp. (TSX:K)(NYSE:KGC), and Royal Gold Inc. (NASDAQ:RGLD).

Analysts appear to be getting bullish on the metal again, too. Blue Line Futures chief market strategist Phillip Streible as quoted by, just said, "Gold as an asset class has moved up on the investors' lists. The precious metal was irrelevant for many a few weeks ago; there was more action in other markets. But now, it moved itself back up. Gold is a player on the field again after being benched for a while.

In addition, as DoubleLine CEO Jeffrey Gundlach said, as quoted by, “Gold has really underperformed other froth assets like bitcoin by incredible amounts, almost inconceivable amounts since that peak in gold above $2,000,” adding, “Gold is very likely to bounce because the selloff has been pretty powerful. Long-term gold is pretty interesting. Our model shows that gold is at fair value at $1,761. We don't think the decline in gold is likely to continue."

West Mining Corp. (CSE:WEST)(OTC:WESMF) Just Engaged Ironmask

West Mining Corp. is an advanced stage exploration company focused on developing a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia "The Golden Arc.”

The company just announced announce it has engaged Ironmask Exploration Services Ltd. to conduct drone-based photogrammetry and LiDAR surveys as well as a comprehensive geochemical sampling program on its 100% owned Junker Property located in the prolific “Golden Horseshoe” district of British Columbia. This exploration program is designed to follow up on the Junker Property’s historic gold and copper anomalies.

The “Golden Horseshoe” district of British Columbia is home to multiple historic gold mines including the Kemess South Mine owned by Centerra Gold Inc. (CG : TSX) and the Lawyers Mine of Benchmark Metals Inc. (BNCH : TSX.V). Historic production at the Kemess South Mine (1998-2010) was 92 million grams gold, 4.8 million grams silver and 335 million kilograms copper from 228.7 million tonnes milled (BC Minfile 094E 094). At the Lawyers Mine (1989-1992), 5.4 million grams gold and 113 million grams silver was produced from 570,000 tonnes mined (BC Minfile 094E 066). Recent drilling by Benchmark at the Lawyers project (see News Release BNCH: TSX.V dated March 17, 2021) returned 52.91 metres of 5.95 g/t gold and 130.93 g/t silver and 4.47 metres of 58.72 g/t gold and 958.39 g/t silver.  

Initial interest in the Junker Property was sparked by a stream sediment sample that is above the 99th percentile gold (INNA), collected as part of the BC Ministry of Mines Regional Geochemical Sampling program. Similar signatures with 98th or 99th percentile gold in stream sediment samples were returned near the historic Lawyers, Kemess and Baker Mines.

The Junker Property is over 2,100 hectares and underlain by Lower to Middle Jurassic marine sedimentary and volcanic rocks of the Hazelton Group. In 2004, Stealth Minerals collected 19 rock samples and 13 silt samples for geochemical analysis (see BC Ministry of Mines Assessment Report #27637). Rock samples consisted of grabs from float and subcrop. PIMA spectroscopy analysis was done on 16 rock samples to determine alteration.

- A float sample of quartz with pyrite yielded 1.28 g/t gold and 1.69 g/t silver (sample 151456).

- A sample of pyritic quartz vein subcrop yielded 0.1 % copper and 1.08 g/t gold (sample 151405).

- A dacitic subcrop sample containing thin quartz stringers with pyrite yielded 0.4% copper and 8.64 g/t silver (sample 151401). This sample was located about 500 metres east of sample 151405.

The Junker property also contains a distinct high-level aeromagnetic break correlating to a mapped dextral strike slip fault, with an eastern offset anomaly.

Nicholas Houghton, President and CEO of West states: “We are excited to utilize Ironmask’s cutting edge technology to further define and delineate the previous Gold and Copper discoveries on our Junker project. The exploration targeting programme using drone-based LiDAR and hand-held XRF (X-Ray Fluorescence) technologies will allow the Company to rapidly advance the project. Results from these programs will assist West in identifying potential drill targets for an upcoming drill program.” The survey work will commence in early June once snow conditions allow.

Other related developments from around the markets include:

Wheaton Precious Metals Corp. announce that its Board of Directors has declared its first quarterly cash dividend payment for 2021 of US$0.13 per common share, an increase of 30% relative to the comparable period in 2020. The first quarterly cash dividend for 2021 of US$0.13 will be paid to holders of record of Wheaton Precious Metals common shares as of the close of business on March 26, 2021, and will be distributed on or about April 13, 2021.

Kirkland Lake Gold Ltd. announced that a quarterly dividend payment for the first quarter of 2021 of US$0.1875 per common share will be paid on April 14, 2021 to shareholders of record as of the close of business on March 31, 2021. The Q1 2021 payment represents the 16th quarterly dividend payment made to shareholders following the Company’s adoption of a dividend policy in March 2017. The Company’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes. For Canadian shareholders, the US dollar dividend payment will be converted to Canadian dollars using the spot price exchange rate on April 13, 2021, the day prior to the payment date.

Kinross Gold Corp. announced its results for the fourth quarter and year ended December 31, 2020. J. Paul Rollinson, President and CEO, made the following comments in relation to 2020 fourth-quarter and year-end results: “Kinross delivered an excellent year in 2020, generating record free cash flow of more than $1 billion from our diversified portfolio of mines. We met our original guidance for the ninth consecutive year despite the impacts of the global pandemic. Kinross managed CV-19 risks by implementing rigorous measures to keep our employees safe, maintain business continuity and support local communities. I would like to thank our workforce around the world for meeting the challenges of the pandemic. Our ability to quickly adapt and safely execute our plans in a difficult environment speaks to the strong culture of operational excellence we have built at Kinross.

Royal Gold Inc. announced that its Board of Directors has declared its second quarter dividend of $0.30 per share of common stock. The dividend is payable on April 15, 2021 to shareholders of record at the close of business on April 1, 2021.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for West Mining Corp. by West Mining Corp. We own ZERO shares of West Mining Corp. Please click here for full disclaimer.

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