This Could Set Gold Up for a Rally to $3000 June 21, 2023 - Baystreet.ca Gold prices could see $3,000 this year, according to Bloomberg Intelligence. All based on the “fear of missing out,” which could dominate gold, especially if we see a severe economic slowdown. "Central-bank accumulation and the potential for a global economic slowdown, on the back of the most aggressive rate-hike period ever, may set the stage for gold to move toward $3,000 an ounce," said Bloomberg Intelligence senior macro strategist Mike McGlone said. That could be a powerful catalyst for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Royal Gold Inc. (NASDAQ: RGLD). "Bloomberg Economics' outlook for an ugly 2H may tilt the potential for a gold bull market toward a key catalyst — a stock bear market," they added. "If the 1H rising equity tide is sustained, the Fed is more likely to keep rates elevated. It's the potential for reciprocity to the biggest liquidity pump in history that's now dumping, and may draw parallels to 1929-30, when the Dow Jones Industrial Average initially fell about 50% and bounced about 50% before the Great Depression." Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example Calibre Mining Corp. announced assay results from the 2023, near-mine discovery, delineation, and resource expansion drill program at its 100% owned Pan Mine (“Pan”), located on the prolific Battle Mountain – Eureka gold trend, Nevada. Results at the Palomino target located immediately south of the open pit operation indicate higher grades than demonstrated at the Pan mine in the current Mineral Resource. The potential exists now to materially increase resource ounces, grade, and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths. Highlights from the Palomino target include:- 3.84 g/t Au over 15.2 metres including 4.19 g/t Au over 13.7 metres in Hole PR23-026;- 2.08 g/t Au over 27.4 metres including 2.67 g/t Au over 19.8 metres in Hole PR23-058;- 2.02 g/t Au over 27.4 metres including 2.19 g/t Au over 24.38 metres in Hole PR23-030;- 1.89 g/t Au over 12.2 metres including 2.45 g/t Au over 9.1 metres in Hole PR23-062;- 1.15 g/t Au over 15.2 metres including 2.44 g/t Au over 3.05 metres in Hole PR23-036;- 1.09 g/t Au over 25.9 metres in Hole PR23-034;- 1.02 g/t Au over 27.4 metres including 1.18 g/t Au over 13.72 g/t Au in Hole PR23-037; and- All drill targets are located near surface in oxidized limestone. Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths. Darren Hall, President, and Chief Executive Officer of Calibre stated: “Pan’s average reserve grade is 0.4 g/t gold, therefore these higher-grade near surface results are very encouraging. Although a small amount of material at Palomino exists in the Inferred Resource category, we expect to see substantially more ounces at higher grades. Operationally, given proximity to the current South Pit and this deposit is within our permitted disturbance area, we could act on this as early as next year. Drilling is ongoing at Palomino and will shift to the south in July toward our Coyote discovery made late last year.” Link 1 – Figures Link 2 – Drilling Table Other related developments from around the markets include: Barrick Gold Corporation reported preliminary Q1 sales of 0.95 million ounces of gold and 89 million pounds of copper, as well as preliminary Q1 production of 0.95 million ounces of gold and 88 million pounds of copper. As previously guided, Barrick’s gold production in 2023 is expected to increase through the year with the first quarter being the lowest, while copper production is expected to be higher in the second half of the year. We remain on track to achieve our full year gold and copper guidance1. The average market price for gold in Q1 was $1,890 per ounce while the average market price for copper in Q1 was $4.05 per pound. Newmont Corporation announced it will defer the full-funds investment decision for the Yanacocha Sulfides project in Peru (the Project) for at least two years to advance its portfolio optimization strategy designed to maximize returns for shareholders and create long-term value for other stakeholders1. The decision positions Newmont to prioritize other value-accretive opportunities and support its disciplined capital allocation strategy, which balances steady reinvestment in the business, maintaining financial strength and flexibility and providing leading returns to shareholders. “Once complete, our proposed acquisition of Newcrest will create an industry-leading portfolio of Tier 1 operations and deepen our unmatched pipeline of value-accretive projects,” said Tom Palmer, President and CEO of Newmont. “In connection with this transaction and our strategy to create lasting value, we are targeting at least $2 billion in near-term cash flow improvements through portfolio optimization within the first two years. The deferral of the Yanacocha Sulfides project represents the first step in delivering on this target, as we evaluate further opportunities to resequence project capital and rationalize the combined portfolio to build a more profitable and resilient future for the business.” Franco Nevada Corp. noted that, “Our diversified portfolio continues to generate strong cash flows and high margins. The first quarter was impacted by production disruptions at Cobre Panama and Antapaccay as well as lower energy prices. Stronger precious metal deliveries are anticipated in Q2 with both assets having returned to normal operations. “Cobre Panama’s CP 100 Expansion is on-track for year-end and we look forward to initial contributions from Magino, Se´gue´la and Salares Norte during the year”, commented Paul Brink, CEO. Franco-Nevada is debt-free, is growing its cash balances and has a strong pipeline of growth opportunities. Royal Gold Inc. announced that its wholly-owned subsidiary RG Royalties, LLC, has entered into a binding commitment letter with ACG Acquisition Company Ltd. to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil for total cash consideration of $250 million, subject to satisfaction of certain conditions, including negotiation and execution of definitive documentation. The royalty interests consist of a gold royalty on the Serrote mine, a gold, platinum and palladium royalty on the Santa Rita mine, and a copper and nickel royalty on both the Serrote and Santa Rita mines. ACG has agreed to acquire the Serrote and Santa Rita mines from funds advised by Appian Capital Advisory LLP, and Royal Gold has agreed to pay the cash consideration for the royalty interests upon the closing of the transaction between ACG and Appian, which is expected to occur by the end of July 2023, after the satisfaction of closing conditions. ACG will be renamed ACG Electric Metals upon completion of the acquisition of the mines from Appian. 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 Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972Ty@winning.media
This Could Set Gold Up for a Rally to $3000 June 21, 2023 - Baystreet.ca Gold prices could see $3,000 this year, according to Bloomberg Intelligence. All based on the “fear of missing out,” which could dominate gold, especially if we see a severe economic slowdown. "Central-bank accumulation and the potential for a global economic slowdown, on the back of the most aggressive rate-hike period ever, may set the stage for gold to move toward $3,000 an ounce," said Bloomberg Intelligence senior macro strategist Mike McGlone said. That could be a powerful catalyst for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Royal Gold Inc. (NASDAQ: RGLD). "Bloomberg Economics' outlook for an ugly 2H may tilt the potential for a gold bull market toward a key catalyst — a stock bear market," they added. "If the 1H rising equity tide is sustained, the Fed is more likely to keep rates elevated. It's the potential for reciprocity to the biggest liquidity pump in history that's now dumping, and may draw parallels to 1929-30, when the Dow Jones Industrial Average initially fell about 50% and bounced about 50% before the Great Depression." Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example Calibre Mining Corp. announced assay results from the 2023, near-mine discovery, delineation, and resource expansion drill program at its 100% owned Pan Mine (“Pan”), located on the prolific Battle Mountain – Eureka gold trend, Nevada. Results at the Palomino target located immediately south of the open pit operation indicate higher grades than demonstrated at the Pan mine in the current Mineral Resource. The potential exists now to materially increase resource ounces, grade, and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths. Highlights from the Palomino target include:- 3.84 g/t Au over 15.2 metres including 4.19 g/t Au over 13.7 metres in Hole PR23-026;- 2.08 g/t Au over 27.4 metres including 2.67 g/t Au over 19.8 metres in Hole PR23-058;- 2.02 g/t Au over 27.4 metres including 2.19 g/t Au over 24.38 metres in Hole PR23-030;- 1.89 g/t Au over 12.2 metres including 2.45 g/t Au over 9.1 metres in Hole PR23-062;- 1.15 g/t Au over 15.2 metres including 2.44 g/t Au over 3.05 metres in Hole PR23-036;- 1.09 g/t Au over 25.9 metres in Hole PR23-034;- 1.02 g/t Au over 27.4 metres including 1.18 g/t Au over 13.72 g/t Au in Hole PR23-037; and- All drill targets are located near surface in oxidized limestone. Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths. Darren Hall, President, and Chief Executive Officer of Calibre stated: “Pan’s average reserve grade is 0.4 g/t gold, therefore these higher-grade near surface results are very encouraging. Although a small amount of material at Palomino exists in the Inferred Resource category, we expect to see substantially more ounces at higher grades. Operationally, given proximity to the current South Pit and this deposit is within our permitted disturbance area, we could act on this as early as next year. Drilling is ongoing at Palomino and will shift to the south in July toward our Coyote discovery made late last year.” Link 1 – Figures Link 2 – Drilling Table Other related developments from around the markets include: Barrick Gold Corporation reported preliminary Q1 sales of 0.95 million ounces of gold and 89 million pounds of copper, as well as preliminary Q1 production of 0.95 million ounces of gold and 88 million pounds of copper. As previously guided, Barrick’s gold production in 2023 is expected to increase through the year with the first quarter being the lowest, while copper production is expected to be higher in the second half of the year. We remain on track to achieve our full year gold and copper guidance1. The average market price for gold in Q1 was $1,890 per ounce while the average market price for copper in Q1 was $4.05 per pound. Newmont Corporation announced it will defer the full-funds investment decision for the Yanacocha Sulfides project in Peru (the Project) for at least two years to advance its portfolio optimization strategy designed to maximize returns for shareholders and create long-term value for other stakeholders1. The decision positions Newmont to prioritize other value-accretive opportunities and support its disciplined capital allocation strategy, which balances steady reinvestment in the business, maintaining financial strength and flexibility and providing leading returns to shareholders. “Once complete, our proposed acquisition of Newcrest will create an industry-leading portfolio of Tier 1 operations and deepen our unmatched pipeline of value-accretive projects,” said Tom Palmer, President and CEO of Newmont. “In connection with this transaction and our strategy to create lasting value, we are targeting at least $2 billion in near-term cash flow improvements through portfolio optimization within the first two years. The deferral of the Yanacocha Sulfides project represents the first step in delivering on this target, as we evaluate further opportunities to resequence project capital and rationalize the combined portfolio to build a more profitable and resilient future for the business.” Franco Nevada Corp. noted that, “Our diversified portfolio continues to generate strong cash flows and high margins. The first quarter was impacted by production disruptions at Cobre Panama and Antapaccay as well as lower energy prices. Stronger precious metal deliveries are anticipated in Q2 with both assets having returned to normal operations. “Cobre Panama’s CP 100 Expansion is on-track for year-end and we look forward to initial contributions from Magino, Se´gue´la and Salares Norte during the year”, commented Paul Brink, CEO. Franco-Nevada is debt-free, is growing its cash balances and has a strong pipeline of growth opportunities. Royal Gold Inc. announced that its wholly-owned subsidiary RG Royalties, LLC, has entered into a binding commitment letter with ACG Acquisition Company Ltd. to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil for total cash consideration of $250 million, subject to satisfaction of certain conditions, including negotiation and execution of definitive documentation. The royalty interests consist of a gold royalty on the Serrote mine, a gold, platinum and palladium royalty on the Santa Rita mine, and a copper and nickel royalty on both the Serrote and Santa Rita mines. ACG has agreed to acquire the Serrote and Santa Rita mines from funds advised by Appian Capital Advisory LLP, and Royal Gold has agreed to pay the cash consideration for the royalty interests upon the closing of the transaction between ACG and Appian, which is expected to occur by the end of July 2023, after the satisfaction of closing conditions. ACG will be renamed ACG Electric Metals upon completion of the acquisition of the mines from Appian. 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 Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972Ty@winning.media