Gold prices could be headed back to $2,000, “with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven,” according to Livemint.com. All could be positive news for stocks, such as Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF), 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).
In addition, “After decades of massive deficit spending and ultra-loose monetary policies, we are heading toward a period of stagflation," said Gregor Gregersen, founder of Silver Bullion Pte, as also quoted by Livemint.com. “In this kind of environment, safe-haven assets like physical gold and silver are some of the best things you can own."
Look at Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF)
Benchmark Metals Inc. announced new drill results from the middle portion of the Cliff Creek deposit (“CC Mid”), which has historically seen less drilling and more moderate results relative to Cliff Creek North and Cliff Creek South zones of the deposit. Drill hole 22CCDD014 intersected two broad intervals, an upper zone grading 1.98 grams per tonne (g/t) gold (Au) and 48.77 g/t silver (Ag) or 2.59 g/t gold equivalent (AuEq*) over 21.20 metres (m), and a lower zone grading 3.09 g/t Au and 106.50 g/t Ag or 4.42 g/t AuEq over 18.81 metres. These results from CC Mid, including several other better than expected intervals in recent drilling, may have the potential to positively impact future resource updates from the Company’s flagship Lawyers Gold-Silver Project, located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, “Continued strong results from the CC Mid zone would have important implications for possible future production scenarios, as historically the bulk of mineralization at Cliff Creek is localized within the northern and southern portions of the deposit area. These results are encouraging, and we are excited to continue to test this prospective zone where it remains open at depth.”
Highlights
- Two significant zones of broad bulk-tonnage enveloping high-grade mineralization, with other zones of important mineralization, intercepted in drill hole 22CCDD014:
21.20mof1.98g/tAuand48.77g/tAgor2.59g/tAuEq, including 0.41mof37.10g/t Au and 1845.00 g/t Ag or 60.16 g/t AuEq;
8.00 m of 2.42 g/t Au and 90.37 g/t Ag or 3.55 g/t AuEq;
18.81 m of 3.09 g/t Au and 106.50 g/t Ag or 4.42 g/t AuEq, including 3.05 m of 14.80 g/t Au and 565.79 g/t Ag or 21.87 g/t AuEq.
- 5.30 m of 25.95 g/t Au and 15.03 g/t Ag or 26.13 g/t AuEq in drill hole 22CCDD007.
- The CC mid zone has multiple prominent intercepts below the 2021 $1600/oz Au pit shell, with the broad lower zone in hole 22CCDD014 occurring approximately 100 metres below the pit shell at 340 metres vertical depth.
Other related developments from around the markets include:
Barrick Gold Corporation announced a $0.20 per share quarterly dividend, the first to include a $0.10 per share performance component in line with its new dividend policy. President and chief executive Mark Bristow said the Company’s net cash balance at the end of Q1 stood at $743 million, reflecting cash flow from the operations, the continuing sale of non-core assets, and its share of a further $0.6 billion in cash distributions by Kibali.
Newmont Corporation announced first quarter 2022 results. "Newmont delivered a solid first quarter performance with $1.4 billion in adjusted EBITDA as we safely managed through the Omicron surge. The strength of our proven operating model and global portfolio in the world's best mining jurisdictions is the foundation of Newmont's clear and consistent strategy to create value and improve lives through sustainable and responsible mining. In April, we published our 18th Annual Sustainability Report, which provides a transparent look at our ESG performance and the issues and metrics that matter most to our stakeholders. As a values-based organization and the gold sector's recognized sustainability leader, Newmont has a long history of leading change in our approach to ESG and our core values are fundamental to how we run our business and where we choose to operate,” as noted by Tom Palmer, Newmont President and Chief Executive Officer.
B2Gold Corp. announced that it has entered into a definitive Scheme Implementation Agreement with Oklo Resources Limited pursuant to which B2Gold has agreed to acquire 100% of the fully paid ordinary shares of Oklo in consideration for 0.0206 of a common share of B2Gold and A$0.0525 in cash for each Oklo Share held. The Scheme Consideration represents a purchase price of approximately A$0.1725 for each Oklo Share and values the transaction at approximately A$91.3 million (including up to approximately A$27.4 million cash consideration). The transaction as contemplated by the Agreement will be implemented by way of a scheme of arrangement pursuant to Part 5.1 of the Australian Corporations Act 2001 (Cth). Upon implementation of the Scheme, in addition to the cash consideration, B2Gold expects to issue up to 10,754,284 B2Gold Shares to Oklo shareholders, representing approximately 1% of the B2Gold Shares on an undiluted basis.
Equinox Gold Corp. announced that further to its press release dated May 16, 2022, approval for the tailings storage facility raise at its RDM Mine in Brazil has been received. The TSF raise contractor is mobilizing equipment to begin the raise in early June. Equinox Gold expects that full operations will resume by mid-July. Equinox Gold will update RDM guidance with its Q2 2022 disclosures in the first week of August.
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 Benchmark Metals Inc. by Benchmark Metals Inc. We own ZERO shares of Benchmark Metals Inc. Please click here for full disclaimer.
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