It’s only a matter of time before gold prices jump above $2,000 again, according to Tavi Costa, portfolio manager at Crescat Capital, as noted by Kitco.com. In fact, the analyst sees multiple risks for the global economy that could send gold prices higher. “The first risk is that the U.S. government default on its debt; he added that while this risk is extremely low, it is still not out of the realm of possibilities. However, a recession caused by the Federal Reserve tightening or U.S. debt levels causing a bond market selloff are two real threats looming.” We also have to remember that gold is also benefiting from central bank demand. In the first quarter, the central banks bought 228t of gold – 34% higher than the previous record set in 2013. That also follows annual demand of 1,078t in 2022. That being said, investors may want to keep an eye on gold stocks like Golden Cariboo Resources (TSXV: GCC) (OTC: GCCFF), Barrick Gold (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Osisko Development Corp. (NYSE: ODV) (TSXV: ODV).
Look at Golden Cariboo Resources (TSXV: GCC) (OTC: GCCFF), For Example
Golden Cariboo Resources reported that the infill sampling from two of three surface drill holes from 2022 has been completed, and 253 drill core samples including 13 QA/QC samples have been shipped to ALS Minerals in North Vancouver, BC.
Drill hole QGQ22-01, which targeted mineralization at the North Hixon zone, had 205 infill samples over a total of 200.15m to further define several gold intercepts including some of which were previously open in both directions as tabulated in the Company’s News Release dated April 25, 2023. Drill hole QGQ22-02 targeted the Koch Vein as well as the greenstone-phyllite contact; and 35 samples over a total of 36.55m complete the entire infill sampling program of 2022. Sampling of drill holes QGQ22-03 and logging of QGQ23-01, both drilled in the Main zone, are in progress.
Golden Cariboo Director, Andrew H. Rees commented “Golden Cariboo’s exploration team is encouraged that initial select assays received from the company’s 2022 drill program necessitated that the Company infill sample two of three holes drilled. Our 2023 drill program is underway and results will be released as they become available.”
Other related developments from around the markets include:
Barrick Gold Corporation announced the declaration of a dividend of $0.10 per share for the first quarter of 2023. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q1 2023 dividend will be paid on June 15, 2023 to shareholders of record at the close of business on May 31, 2023. “Through the maintenance of a robust balance sheet, we are able to continue to provide a strong base dividend to our shareholders, with our Performance Dividend Policy providing shareholders with the potential for additional upside going forward,” said senior executive vice-president and chief financial officer Graham Shuttleworth.
Newmont Corporation announced that following completion of due diligence it has entered into a binding Scheme Implementation Deed under which Newmont will acquire 100 percent of the issued share capital in Newcrest by way of an Australian court-approved Scheme of Arrangement. “The combination of Newmont and Newcrest represents an exceptional value proposition for shareholders and other stakeholders. It creates an industry-leading portfolio with a multi-decade gold and copper production profile in the world’s most favorable mining jurisdictions,” said Tom Palmer, President and CEO of Newmont. “Following a robust due diligence process, we have identified a number of opportunities to unlock substantial value and will apply our experience and expertise to Newcrest’s complementary and exceptional portfolio of long-life, low-cost gold and copper assets. Leveraging our experience from the acquisition of Goldcorp four years ago, we are positioned to deliver an estimated $500 million in annual synergies and an estimated $2 billion in incremental cash flow from portfolio optimization opportunities, both part of our strategy to maximize value for shareholders and other stakeholders.”
Franco Nevada Corp. reported its first quarter results. 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.
Osisko Development Corp. announced new 2023 underground diamond drilling results at its 100%-owned Trixie test mine, within the Company's wider Tintic Project and to provide an overview of the ongoing 2023 exploration program at Tintic, located in the historic East Tintic Mining District in central Utah, U.S.A. In addition, the Company is also reporting the remaining DD and reverse circulation drilling results from its 2022 exploration program. Chris Lodder, President of Osisko Development, commented, "The underground diamond drilling results from this year's drill campaign continue to generate targets and understanding of the epithermal veins and breccias at Trixie. High-grade gold and silver are observed in the footwall of the T2 and T1 zones, as both disseminated and vein mineralization. As these initial results indicate, the drillholes are intersecting all zones within the deposit area and continue to build upon the exploration successes achieved in 2022. We are also excited to launch our initial drill campaign to target copper porphyry potential at Tintic, which is slated to begin in Q3 2023."
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 Golden Cariboo Resources by Golden Cariboo Resources. We own ZERO shares of Golden Cariboo Resources. Please click here for disclaimer.
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