Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries How the Banking Fiasco Caused Gold Price and Interest in Gold Miners to Surge By: FinancialNewsMedia March 22, 2023 at 09:00 AM EDT FN Media Group Presents USA News Group News Commentary Vancouver, BC – March 22, 2023 – USA News Group – In the immediate aftermath of the SVB banking fiasco, safe haven seeking investors flocked to gold causing the precious metal’s price to surge on the first day of trading as the week began. But prior to the bank’s chaos, at the 2023 PDAC mining conference in Toronto, mining analyst and Portfolio Manager and Partner at Crescat Capital predicted “at least a triple in gold prices” to be a likely scenario, along with an 85% gain for miners in the space. For those watching the gold miner ETFs, VanEck research has been optimistic, highlighting how gold miners are in a rare position of trading below 5x price to cash flow, and that “Historically, gold miners’ shares have actually rallied hard off such low valuations.” Among the gold miners with momentum heading into the middle of 2023 are Element79 Gold Corp. (CSE:ELEM) (OTCPK:ELMGF), New Found Gold Corp. (TSXV:NFG) (NYSE:NFGC), Artemis Gold Inc. (TSXV:ARTG) (OTCPK:ARGTF), Alamos Gold Inc. (NYSE:AGI) (TSX:AGI), and Wesdome Gold Mines Ltd. (TSX:WDO) (OTCQX:WDOFF). Near-term production is on the menu for Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) with its Lucero Project in Peru underway, where the company already has been permitted for 350 tonnes per day production. While not its flagship asset, Element79 expects to see production from Lucero inject non-dilutive cashflow into the company’s coffers in the near future in order to finance exploration on its Tier-1 Resource bearing Maverick Springs property in Nevada, with 3.71 million ounces of gold equivalent Inferred already on site. So far, Lucero’s development has made things go smoothly for Element79 having recently delivering high-grade assay results up to 7.7 g/t Au and 916 g/t ag. Now the company has gone ahead and terminated its other Peruvian project Machacala to further tighten its share structure further, optimize future cash flows, and increase Element79’s its Peruvian efforts solely on Lucero—the more high-value, high-grade, near-term cash flow opportunity of the two. “This Transaction also helps sharpen our corporate focus on our core properties, mainly restarting the High-Grade Past-Producing gold-silver mine operations at Lucero and further developing the resource at Maverick Springs, and we feel that the beneficial effect of this focus will become more significant as the company grows,” said James Tworek, CEO of Element79 Gold. “We have several milestones to hit in the near future and we look forward to sharing these developments as our team achieves them.” At its Queensway project in Newfoundland and Labrador, New Found Gold Corp. (TSXV:NFG) (NYSE American:NFGC) announced a significant new discovery in the Iceberg zone along the highly prolific Keats-Baseline Fault Zone (KBFZ), intercepting 49.7 g/t gold over 29.9 metres—causing shares of the company to soar upon the market’s reception of the news. The announcement came just weeks after New Found made its first big release of the Iceberg zone’s potential, when it found 72.2 g/t gold over 9.65m at the beginning of the same month. “The discovery of Iceberg renews our enthusiasm around the highly prolific KBFZ,” said Greg Matheson, COO for New Found. “Iceberg exudes the same qualities that our earlier drilling found at Keats Main. Both display significant quartz veining over several-metre-wide intercepts that start at surface and both are hosted by the KBFZ – a fault with demonstrated ability to concentrate significant amounts of high-grade gold mineralization with considerable strike continuity.” In British Columbia, Canada, Artemis Gold Inc. (TSXV:ARTG) (OTC:ARGTF) obtained its BC Mines Act Permit for the company’s Blackwater Mine. With this final step of approval out of the way, Artemis Gold moved towards the commencement of major works construction activities at the mine in Q1 2023, with the expectation of an initial gold pour in H2 2024. “British Columbians will benefit from hundreds of new jobs from this new mine, with both its construction and multiple decades of operation,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, for British Columbia, Canada. “Artemis Gold has designed a world-class mine that supports the economic needs of the local region; brings First Nations in as partners in training, business development and jobs opportunities; and helps to meet provincial climate targets with the use of sustainable, clean electricity.” Prior to the final approvals, Artemis Gold closed a $385 million project loan financing with another $40 million standby cost overrun facility. “Execution of the definitive documents for the PLF is yet another major milestone on the development path for Blackwater,” said Steven Dean, Chairman and CEO. “The calibre of the syndicate banks who have joined the leads National Bank and Macquarie is further testimony to the financial strength of the Project.” At its Lynn Lake Gold Project in Manitoba, Canada, Alamos Gold Inc. (NYSE:AGI) (TSX:AGI) achieved significant permitting milestones at the beginning of March 2023. Among those, Alamo announced that they completed the federal Environmental Impact Assessment, receiving a positive Decision Statement from the Minister of Environment and Climate Change Canada. As well, in accordance with the provinces Environment Act, Alamos also received Environment Act Licenses for its MacLellan and Gordon sites, which helped the company increase their Mineral Reserves by 27% to 2.1 million ounces of gold. “Achieving both of these important regulatory milestones for the Lynn Lake Gold Project represents a multi-year, collaborative effort by our team and our commitment to environmental sustainability,” said John A. McCluskey, Alamos President and CEO. “Lynn Lake is a significant opportunity to drive the future growth of our business in Canada, with the potential to increase our annual production to approximately 800,000 ounces of gold per year.” An updated Feasibility Study is expected to be completed during the first half of 2023, while Alamos also focuses exploration efforts on a large underexplored land package with significant potential at the Lynn Lake Project in 2023. The company has already assembled a $5 million budget for the program. Toronto-based miner Wesdome Gold Mines Ltd. (TSX:WDO) (OTC:WDOFF) recently updated its Mineral Resource and Mineral Reserve figures at both its Kiena Mine Complex in Val d’Or, Quebec and at the Eagle River Mine near Wawa, Ontario. As of December 31, 2022, Wesdome’s combined proven and probable mineral reserves totaled 1.0 million ounces of gold through 2.4 million tonnes grading 12.9 g/t gold. As well, the company’s combined Measured and Indicated mineral resources were 350,000 ounces of gold, through 1.4 million tonnes grading 7.7 g/t gold, as well as a combined Inferred mineral resource of 1.1 million ounces, through 6.4 million tonnes grading 5.2 g/t gold. The upgrades announced by Wesdome came as an optimistic upgrade after admitting to 2022 being quite difficult for the company. “2022 was a challenging year for Wesdome, and we have leveraged our experiences to ensure better operational and financial performance going forward,” said Warwick Morley-Jepson, Interim CEO in Wesdome’s Q4 and FY 2022 results. “We consider this year to be a transition year as we get Kiena back on schedule, setting up 2024 to be a stronger year operationally, as well as financially.” For more information please visit: https://usanewsgroup.com/2023/02/13/how-to-build-the-perfect-gold-story-in-2023-a-textbook-example/ Article Source: USA News Group http://USAnewsgroup.com info@usanewsgroup.com DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Torex Gold Resources Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Torex Gold Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Torex Gold Resources Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of Torex Gold Resources Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by Torex Gold Resources Inc.; this is a paid advertisement, we currently own shares of Torex Gold Resources Inc. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), 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 USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing 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 was not compensated by any public company mentioned herein to disseminate this press release. This release contains “forward-loking 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. Media Contact Information: FN Media Group, LLC Media Contact e-mail: editor@financialnewsmedia.com U.S. Phone: +1(954)345-0611 SOURCE USA News Group The post How the Banking Fiasco Caused Gold Price and Interest in Gold Miners to Surge appeared first on Financial News Media. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
How the Banking Fiasco Caused Gold Price and Interest in Gold Miners to Surge By: FinancialNewsMedia March 22, 2023 at 09:00 AM EDT FN Media Group Presents USA News Group News Commentary Vancouver, BC – March 22, 2023 – USA News Group – In the immediate aftermath of the SVB banking fiasco, safe haven seeking investors flocked to gold causing the precious metal’s price to surge on the first day of trading as the week began. But prior to the bank’s chaos, at the 2023 PDAC mining conference in Toronto, mining analyst and Portfolio Manager and Partner at Crescat Capital predicted “at least a triple in gold prices” to be a likely scenario, along with an 85% gain for miners in the space. For those watching the gold miner ETFs, VanEck research has been optimistic, highlighting how gold miners are in a rare position of trading below 5x price to cash flow, and that “Historically, gold miners’ shares have actually rallied hard off such low valuations.” Among the gold miners with momentum heading into the middle of 2023 are Element79 Gold Corp. (CSE:ELEM) (OTCPK:ELMGF), New Found Gold Corp. (TSXV:NFG) (NYSE:NFGC), Artemis Gold Inc. (TSXV:ARTG) (OTCPK:ARGTF), Alamos Gold Inc. (NYSE:AGI) (TSX:AGI), and Wesdome Gold Mines Ltd. (TSX:WDO) (OTCQX:WDOFF). Near-term production is on the menu for Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) with its Lucero Project in Peru underway, where the company already has been permitted for 350 tonnes per day production. While not its flagship asset, Element79 expects to see production from Lucero inject non-dilutive cashflow into the company’s coffers in the near future in order to finance exploration on its Tier-1 Resource bearing Maverick Springs property in Nevada, with 3.71 million ounces of gold equivalent Inferred already on site. So far, Lucero’s development has made things go smoothly for Element79 having recently delivering high-grade assay results up to 7.7 g/t Au and 916 g/t ag. Now the company has gone ahead and terminated its other Peruvian project Machacala to further tighten its share structure further, optimize future cash flows, and increase Element79’s its Peruvian efforts solely on Lucero—the more high-value, high-grade, near-term cash flow opportunity of the two. “This Transaction also helps sharpen our corporate focus on our core properties, mainly restarting the High-Grade Past-Producing gold-silver mine operations at Lucero and further developing the resource at Maverick Springs, and we feel that the beneficial effect of this focus will become more significant as the company grows,” said James Tworek, CEO of Element79 Gold. “We have several milestones to hit in the near future and we look forward to sharing these developments as our team achieves them.” At its Queensway project in Newfoundland and Labrador, New Found Gold Corp. (TSXV:NFG) (NYSE American:NFGC) announced a significant new discovery in the Iceberg zone along the highly prolific Keats-Baseline Fault Zone (KBFZ), intercepting 49.7 g/t gold over 29.9 metres—causing shares of the company to soar upon the market’s reception of the news. The announcement came just weeks after New Found made its first big release of the Iceberg zone’s potential, when it found 72.2 g/t gold over 9.65m at the beginning of the same month. “The discovery of Iceberg renews our enthusiasm around the highly prolific KBFZ,” said Greg Matheson, COO for New Found. “Iceberg exudes the same qualities that our earlier drilling found at Keats Main. Both display significant quartz veining over several-metre-wide intercepts that start at surface and both are hosted by the KBFZ – a fault with demonstrated ability to concentrate significant amounts of high-grade gold mineralization with considerable strike continuity.” In British Columbia, Canada, Artemis Gold Inc. (TSXV:ARTG) (OTC:ARGTF) obtained its BC Mines Act Permit for the company’s Blackwater Mine. With this final step of approval out of the way, Artemis Gold moved towards the commencement of major works construction activities at the mine in Q1 2023, with the expectation of an initial gold pour in H2 2024. “British Columbians will benefit from hundreds of new jobs from this new mine, with both its construction and multiple decades of operation,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, for British Columbia, Canada. “Artemis Gold has designed a world-class mine that supports the economic needs of the local region; brings First Nations in as partners in training, business development and jobs opportunities; and helps to meet provincial climate targets with the use of sustainable, clean electricity.” Prior to the final approvals, Artemis Gold closed a $385 million project loan financing with another $40 million standby cost overrun facility. “Execution of the definitive documents for the PLF is yet another major milestone on the development path for Blackwater,” said Steven Dean, Chairman and CEO. “The calibre of the syndicate banks who have joined the leads National Bank and Macquarie is further testimony to the financial strength of the Project.” At its Lynn Lake Gold Project in Manitoba, Canada, Alamos Gold Inc. (NYSE:AGI) (TSX:AGI) achieved significant permitting milestones at the beginning of March 2023. Among those, Alamo announced that they completed the federal Environmental Impact Assessment, receiving a positive Decision Statement from the Minister of Environment and Climate Change Canada. As well, in accordance with the provinces Environment Act, Alamos also received Environment Act Licenses for its MacLellan and Gordon sites, which helped the company increase their Mineral Reserves by 27% to 2.1 million ounces of gold. “Achieving both of these important regulatory milestones for the Lynn Lake Gold Project represents a multi-year, collaborative effort by our team and our commitment to environmental sustainability,” said John A. McCluskey, Alamos President and CEO. “Lynn Lake is a significant opportunity to drive the future growth of our business in Canada, with the potential to increase our annual production to approximately 800,000 ounces of gold per year.” An updated Feasibility Study is expected to be completed during the first half of 2023, while Alamos also focuses exploration efforts on a large underexplored land package with significant potential at the Lynn Lake Project in 2023. The company has already assembled a $5 million budget for the program. Toronto-based miner Wesdome Gold Mines Ltd. (TSX:WDO) (OTC:WDOFF) recently updated its Mineral Resource and Mineral Reserve figures at both its Kiena Mine Complex in Val d’Or, Quebec and at the Eagle River Mine near Wawa, Ontario. As of December 31, 2022, Wesdome’s combined proven and probable mineral reserves totaled 1.0 million ounces of gold through 2.4 million tonnes grading 12.9 g/t gold. As well, the company’s combined Measured and Indicated mineral resources were 350,000 ounces of gold, through 1.4 million tonnes grading 7.7 g/t gold, as well as a combined Inferred mineral resource of 1.1 million ounces, through 6.4 million tonnes grading 5.2 g/t gold. The upgrades announced by Wesdome came as an optimistic upgrade after admitting to 2022 being quite difficult for the company. “2022 was a challenging year for Wesdome, and we have leveraged our experiences to ensure better operational and financial performance going forward,” said Warwick Morley-Jepson, Interim CEO in Wesdome’s Q4 and FY 2022 results. “We consider this year to be a transition year as we get Kiena back on schedule, setting up 2024 to be a stronger year operationally, as well as financially.” For more information please visit: https://usanewsgroup.com/2023/02/13/how-to-build-the-perfect-gold-story-in-2023-a-textbook-example/ Article Source: USA News Group http://USAnewsgroup.com info@usanewsgroup.com DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Torex Gold Resources Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Torex Gold Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Torex Gold Resources Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of Torex Gold Resources Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by Torex Gold Resources Inc.; this is a paid advertisement, we currently own shares of Torex Gold Resources Inc. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), 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 USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing 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 was not compensated by any public company mentioned herein to disseminate this press release. This release contains “forward-loking 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. Media Contact Information: FN Media Group, LLC Media Contact e-mail: editor@financialnewsmedia.com U.S. Phone: +1(954)345-0611 SOURCE USA News Group The post How the Banking Fiasco Caused Gold Price and Interest in Gold Miners to Surge appeared first on Financial News Media.
FN Media Group Presents USA News Group News Commentary Vancouver, BC – March 22, 2023 – USA News Group – In the immediate aftermath of the SVB banking fiasco, safe haven seeking investors flocked to gold causing the precious metal’s price to surge on the first day of trading as the week began. But prior to the bank’s chaos, at the 2023 PDAC mining conference in Toronto, mining analyst and Portfolio Manager and Partner at Crescat Capital predicted “at least a triple in gold prices” to be a likely scenario, along with an 85% gain for miners in the space. For those watching the gold miner ETFs, VanEck research has been optimistic, highlighting how gold miners are in a rare position of trading below 5x price to cash flow, and that “Historically, gold miners’ shares have actually rallied hard off such low valuations.” Among the gold miners with momentum heading into the middle of 2023 are Element79 Gold Corp. (CSE:ELEM) (OTCPK:ELMGF), New Found Gold Corp. (TSXV:NFG) (NYSE:NFGC), Artemis Gold Inc. (TSXV:ARTG) (OTCPK:ARGTF), Alamos Gold Inc. (NYSE:AGI) (TSX:AGI), and Wesdome Gold Mines Ltd. (TSX:WDO) (OTCQX:WDOFF). Near-term production is on the menu for Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) with its Lucero Project in Peru underway, where the company already has been permitted for 350 tonnes per day production. While not its flagship asset, Element79 expects to see production from Lucero inject non-dilutive cashflow into the company’s coffers in the near future in order to finance exploration on its Tier-1 Resource bearing Maverick Springs property in Nevada, with 3.71 million ounces of gold equivalent Inferred already on site. So far, Lucero’s development has made things go smoothly for Element79 having recently delivering high-grade assay results up to 7.7 g/t Au and 916 g/t ag. Now the company has gone ahead and terminated its other Peruvian project Machacala to further tighten its share structure further, optimize future cash flows, and increase Element79’s its Peruvian efforts solely on Lucero—the more high-value, high-grade, near-term cash flow opportunity of the two. “This Transaction also helps sharpen our corporate focus on our core properties, mainly restarting the High-Grade Past-Producing gold-silver mine operations at Lucero and further developing the resource at Maverick Springs, and we feel that the beneficial effect of this focus will become more significant as the company grows,” said James Tworek, CEO of Element79 Gold. “We have several milestones to hit in the near future and we look forward to sharing these developments as our team achieves them.” At its Queensway project in Newfoundland and Labrador, New Found Gold Corp. (TSXV:NFG) (NYSE American:NFGC) announced a significant new discovery in the Iceberg zone along the highly prolific Keats-Baseline Fault Zone (KBFZ), intercepting 49.7 g/t gold over 29.9 metres—causing shares of the company to soar upon the market’s reception of the news. The announcement came just weeks after New Found made its first big release of the Iceberg zone’s potential, when it found 72.2 g/t gold over 9.65m at the beginning of the same month. “The discovery of Iceberg renews our enthusiasm around the highly prolific KBFZ,” said Greg Matheson, COO for New Found. “Iceberg exudes the same qualities that our earlier drilling found at Keats Main. Both display significant quartz veining over several-metre-wide intercepts that start at surface and both are hosted by the KBFZ – a fault with demonstrated ability to concentrate significant amounts of high-grade gold mineralization with considerable strike continuity.” In British Columbia, Canada, Artemis Gold Inc. (TSXV:ARTG) (OTC:ARGTF) obtained its BC Mines Act Permit for the company’s Blackwater Mine. With this final step of approval out of the way, Artemis Gold moved towards the commencement of major works construction activities at the mine in Q1 2023, with the expectation of an initial gold pour in H2 2024. “British Columbians will benefit from hundreds of new jobs from this new mine, with both its construction and multiple decades of operation,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, for British Columbia, Canada. “Artemis Gold has designed a world-class mine that supports the economic needs of the local region; brings First Nations in as partners in training, business development and jobs opportunities; and helps to meet provincial climate targets with the use of sustainable, clean electricity.” Prior to the final approvals, Artemis Gold closed a $385 million project loan financing with another $40 million standby cost overrun facility. “Execution of the definitive documents for the PLF is yet another major milestone on the development path for Blackwater,” said Steven Dean, Chairman and CEO. “The calibre of the syndicate banks who have joined the leads National Bank and Macquarie is further testimony to the financial strength of the Project.” At its Lynn Lake Gold Project in Manitoba, Canada, Alamos Gold Inc. (NYSE:AGI) (TSX:AGI) achieved significant permitting milestones at the beginning of March 2023. Among those, Alamo announced that they completed the federal Environmental Impact Assessment, receiving a positive Decision Statement from the Minister of Environment and Climate Change Canada. As well, in accordance with the provinces Environment Act, Alamos also received Environment Act Licenses for its MacLellan and Gordon sites, which helped the company increase their Mineral Reserves by 27% to 2.1 million ounces of gold. “Achieving both of these important regulatory milestones for the Lynn Lake Gold Project represents a multi-year, collaborative effort by our team and our commitment to environmental sustainability,” said John A. McCluskey, Alamos President and CEO. “Lynn Lake is a significant opportunity to drive the future growth of our business in Canada, with the potential to increase our annual production to approximately 800,000 ounces of gold per year.” An updated Feasibility Study is expected to be completed during the first half of 2023, while Alamos also focuses exploration efforts on a large underexplored land package with significant potential at the Lynn Lake Project in 2023. The company has already assembled a $5 million budget for the program. Toronto-based miner Wesdome Gold Mines Ltd. (TSX:WDO) (OTC:WDOFF) recently updated its Mineral Resource and Mineral Reserve figures at both its Kiena Mine Complex in Val d’Or, Quebec and at the Eagle River Mine near Wawa, Ontario. As of December 31, 2022, Wesdome’s combined proven and probable mineral reserves totaled 1.0 million ounces of gold through 2.4 million tonnes grading 12.9 g/t gold. As well, the company’s combined Measured and Indicated mineral resources were 350,000 ounces of gold, through 1.4 million tonnes grading 7.7 g/t gold, as well as a combined Inferred mineral resource of 1.1 million ounces, through 6.4 million tonnes grading 5.2 g/t gold. The upgrades announced by Wesdome came as an optimistic upgrade after admitting to 2022 being quite difficult for the company. “2022 was a challenging year for Wesdome, and we have leveraged our experiences to ensure better operational and financial performance going forward,” said Warwick Morley-Jepson, Interim CEO in Wesdome’s Q4 and FY 2022 results. “We consider this year to be a transition year as we get Kiena back on schedule, setting up 2024 to be a stronger year operationally, as well as financially.” For more information please visit: https://usanewsgroup.com/2023/02/13/how-to-build-the-perfect-gold-story-in-2023-a-textbook-example/ Article Source: USA News Group http://USAnewsgroup.com info@usanewsgroup.com DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Torex Gold Resources Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Torex Gold Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Torex Gold Resources Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of Torex Gold Resources Inc. at any time without any further notice commencing immediately and ongoing. 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Media Contact Information: FN Media Group, LLC Media Contact e-mail: editor@financialnewsmedia.com U.S. Phone: +1(954)345-0611 SOURCE USA News Group The post How the Banking Fiasco Caused Gold Price and Interest in Gold Miners to Surge appeared first on Financial News Media.
