Connect with us

Articles

Exploration Update of BC’s World Class Golden Triangle

Few investors are keeping up with news from this rapidly emerging gold and copper district….

Share this article:

Published

on

This article was originally published by Resource World

Few investors are keeping up with news from this rapidly emerging gold and copper district.

By Lawrence Roulston

The 24 million ounces of gold outlined by drilling at the Treaty Creek project in northwestern British Columbia’s Golden Triangle region caught many investors by surprise. That initial resource estimate, announced earlier this year, is just the beginning for the latest world-class discovery to emerge from this aptly-named region.

Treaty Creek already ranks among the top gold discoveries of the past three decades and with multiple target areas yet to be tested, there is potential for that deposit to get even larger. Further drill results announced on September 27 highlight that upside potential, with long intersections outside of the resource area.

The Golden Triangle is evolving so quickly that investors and even people deeply involved in the region are not up-to-date. That lag in awareness was highlighted in a recent five-day fishing trip with senior management from 10 companies operating in the Triangle: Few were aware of the latest information about this region, highlights of which are summarized below.

First, let’s look at that initial estimate for the Treaty Creek project, a joint venture among Tudor Gold [TUD-TSXV], Teuton Resources [TUO-TSXV] and American Creek Resources [AMK-TSXV]. That resource, encompassing just two of the multiple target zones on the Treaty Creek property, outlined an initial measured and indicated resource of 17 million oz gold and 93 million oz silver plus inferred resources of 7 million oz gold and 41 million oz silver (1). Drill results since that estimate have further expanded the mineralized area and include: 972 metres of 1.265 grams per tonne gold equivalent (2), 130 metres of 2.389 g/t AuEq (3) and 564.0 metres containing 1.09 g/t AuEq. (4)

Treaty Creek is an extension of the Sulphurets hydrothermal system, one of the largest such systems in the world. The Sulphurets system hosts Seabridge Gold’s [SEA-TSX; SA-NYSE] KSM deposit which, on its own, is one of the largest gold deposits on the planet. KSM has combined Measured plus Indicated plus Inferred Resources hosting 142 million oz gold plus 728 million oz silver plus 50 billion pounds of copper.(5) As with Treaty Creek, those figures will continue to expand as exploration on this gargantuan deposit continues. The four individual deposits that make up KSM were all found in outcrop. Seabridge is now beginning to test targets under cover, building on the knowledge gained in drilling off the known deposits.

Adjacent to KSM and part of the same geological system, is the Snowfield deposit also owned by Seabridge. Immediately to the east is the Pretium Resources [PVG-TSX, NYSE] Brucejack deposit, which hosts 32 million oz gold and is currently producing 350,000 (6) ounces per year.

A circle 20 km across encompasses KSM, Snowfield, Treaty Creek and Brucejack. That circle, to date, hosts a total (7) of 199 million oz gold, 790 million oz silver and 51 billion lbs copper.

I’m not aware of anywhere else on the planet that has such a concentration of metals in such a small area. If anyone is aware of a comparable area, please let me know.

To put this in context: The Abitibi Gold Belt of Ontario and Quebec has an estimated total endowment (past production plus current resource) of 300 million ounces of gold. But, those ounces are spread over an area more than 200 times the size of the Sulphurets cluster.

That 20-km circle of riches is just one small part of the Golden Triangle.

The Eskay Mine is located 20 km northwest of the KSM-Treaty-Brucejack cluster. Eskay was one of the greatest mines ever: The average grade over a 13-year mine life was 45 g/t gold plus 2,200 g/t silver.(7) It ranked among the biggest silver mines in the world and that was just a by-product of the gold production. Barrick Gold [ABX-TSX; GOLD-NYSE] bought the legendary Homestake Mining Company to get their hands on the Eskay Mine which produced 3.3 million oz of gold and 160 million oz of silver.(8)

Eskay is now headed back to production by junior Skeena Resources [SKE-TSX] with Measured and Indicated Resources of 3.8 million oz gold and 100 million oz silver with potential for those numbers to go higher as exploration continues.(9)

The Golden Triangle hosts several other world class gold, silver and copper deposits including Galore, Schaft Creek, Red Chris, Premier, Red Mountain and Saddle as well as numerous other exploration projects well on their way to becoming large-scale deposits.

Red Chris is in production on the shallow portion of a large porphyry deposit, with majority owner and partner Newcrest Mining finalizing plans for a massive expansion. To understand those expansion plans, just look at some of the intersections outside of the current area of mining: Hole 07-335 graded 1.01% copper plus 1.26 g/t gold over its entire length of 1,024 metres.(10) In a March 10, 2020 news release, Imperial Metals [III-TSX] reported that hole RC611 returned 1.7% copper and 3.3 g/t gold over 276 metres.

Long Recognized but Initially Hard to Access

The riches of the Golden Triangle have been recognized for over a century, but difficult access in the early days made it hard to explore.

Tucked in behind the Alaska Panhandle, the Triangle covers an area equivalent to about 7% of the area of Nevada but hosting far more metal than the famed Golden State. The mineralization in the Golden Triangle is the result of the same geological processes that created metal deposits around the Pacific Ring of Fire, including Mexico, Peru, Chile, Fiji and Indonesia. Unique twists to that basic process in the Golden Triangle area, which are only beginning to be understood, created an extraordinary metal endowment.

In the 1970s, road access began to open up the region. The discovery of Snip and then Eskay attracted literally hundreds of exploration companies through the 1980s and 1990s. Most of that early work was focused on tiny claim blocks that were staked around surface showings. In those early days, there was minimal geological understanding of the region. An important feature of the BC government’s mining administration is that it is a condition of holding mineral claims that reports be filed which detail the work completed and the results obtained. That immense database of information, built up over decades, constitutes an invaluable starting point for modern explorers. Mountain Boy [MTB-TSXV] is one company that is benefitting from that treasure trove of existing information.

It is fair to say that all of the recent discoveries in the GT benefited from earlier work by other explorers. In fact, Eskay and KSM were both recognized in the 1930s, but it took work by multiple explorers to advance them to the moment of the big discoveries. The Premier district has been mined and explored for more than a century and new discoveries are still being made.

Public Perception is Out of Date

The Golden Triangle is still seen by many investors as being remote. Indeed, some parts of the region remain difficult to access. Galore and KSM will both need tunnels as part of their mine developments.  On the other hand, the Red Chris mine is 15 km by road to a major provincial highway and it is connected to the provincial power grid. The BC power grid delivers some of the cheapest electricity in the world.

Pretium’s Brucejack mine also has road access and is on the provincial power grid. Both mines are exporting concentrates through Stewart, a deep-water port located within the Triangle. The Eskay Mine road has been extended to provide access for the KSM exploration program. (Ore from the mine will be transported through a tunnel to the process facility.) The Ascot Resources [AOT-TSX] Premier Mine redevelopment, due for start-up next year, will benefit from an on-site hydropower facility AND a tie-in to the grid.(11)

Exploration field work is mostly seasonal, but even that is evolving as companies are now gaining valuable information from sophisticated testing and analytical procedures on samples over the winter.

Enduro Metals is planning winter road access, which will initially allow cost effective delivery of bulk supplies and lead to year-round drilling.  Pretium and Newcrest both operate their mines year-round. Ascot will be developing Premier right through the winter. There will be a slow-down in news over the winter, but there will be on-going news flow from the region.

The First Nations in the region are willing and very capable partners, working with exploration and development companies to advance projects and create prosperity for all stakeholders. The Tahltan, in particular, have established companies to deliver drilling, road and pad building, geophysics and even helicopter services. Living and working full-time in the region, they are extremely well suited to deliver these services.

Permits for the $185 million of work conducted last year (12), including extensive drilling and road building, were issued routinely. Red Chris and Brucejack were both permitted and brought to production quickly and efficiently. Premier will be permitted perhaps by the time you read this, with work already underway leading to a production start before the end of next year.

Growing Recognition from Investors and Industry

The extraordinary geological potential and other benefits of the Golden Triangle are beginning to be recognized by the mining industry and by investors.

Over the past few years, several of the largest mining companies have made big investments in the Triangle:

Hecla Mining [HL-NYSE], the largest US silver producer, acquired a massive 590 km2 in the southern part of the Triangle and bought 11% of the junior that holds an adjacent property.

Newcrest, Australia’s largest gold producer, paid US$804 million in August 2019 for 70% of the Red Chris copper-gold mine. They are now working toward a massive expansion of that mine.

Newmont [NGT-TSX; NEM-NYSE], the largest gold producer, in May bought all the shares of GT Gold at C$3.25/share, valuing the junior explorer at C$425 million. GT Gold had discovered the Saddle deposit. That was the second big investment in the region for the world’s largest gold miner.

In July 2018, Newmont bought a half interest in the Galore Creek deposit from junior NovaGold Resources [NG-TSX, NYSE] for US$275 million

Those large companies join the Vancouver-based major Teck Resources [TECK.A, TECK.B-TSX; TECK-NYSE], which has a 50% stake in Galore and 70% of Schaft. Other gold, silver and copper producers are watching closely, looking for a suitable entry.

Some of the savviest investors in the mining space are making big bets on Golden Triangle companies. Eric Sprott and Rob McEwen, for example, have invested in several of the companies.(13) Institutional and individual investors around the world contributed to the $185 million of exploration spending in the Triangle last year. Indications are that the level of activity will continue to grow in this emerging region.

The recent dip in the resource markets provides a buying opportunity for those investors who recognize the cyclical nature of the resource markets. Numerous companies that explored over the summer and fall will be announcing results over the coming weeks which could have material impacts on their valuations.

Investors have a wide range of investment opportunities in the Golden Triangle and. For example: Ascot is advancing toward a production start in little over a year. Tudor and partners Teuton and American Creek are expanding on a known deposit. Other companies, such as Mountain Boy Minerals, are building on decades of earlier work, to advance projects toward the discovery stage.

With results each year building on prior results, it is only a matter of time until more discoveries are made in the Golden Triangle, generating the outsized returns that come with mineral discoveries.

In summary, the Golden Triangle is blessed with:

  • Extraordinary geological riches
  • A supportive government
  • Cooperative First Nations
  • Road access
  • A deep-water port
  • Cheap electricity, including 3 hydro facilities right in the heart of the Triangle.

Simply put, the Golden Triangle is one of the best places on the planet to make new discoveries and turn them into mines. And, the best part is that opportunities abound, as investors and the mining industry are only starting to gain awareness of the incredible opportunities in this prolific region.

 

Lawrence Roulston is a geologist with nearly 40 years of experience in the mining industry. Lawrence worked in the management of juniors and one of the majors as well as an investment firm. For 15 years he wrote the highly regarded Resource Opportunities newsletter before getting back to managing mineral exploration. His experience in the Golden Triangle goes back to the 1980s when he ran an exploration program in the area. He is presently involved in three companies exploring in the Triangle – advisor to Metallis Minerals [MTS-TSXV], director of Enduro Metals [ENDR-TSXV] and CEO of Mountain Boy Minerals [MTB-TSXV] and is also chairman of Metalla Royalty and Streaming [MTA-NYSE].

  1. Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, March 1, 2021
  2. Tudor News Release August 30, 2021.
  3. Tudor News Release August 3, 2021
  4. Tudor News Release September 27, 2021
  5. KSM (Kerr-Sulphurets-Mitchell) Prefeasibility Study Update, NI 43-101 Technical Report, April 30, 2020. The figures combine Measured, Indicated and Inferred amounts for the sole reason of expressing the geological prospectivity of this area and should not be relied on in the context of individual deposits or companies.
  6. Pretium website.
  7. These figures are all derived from 43-101 compliant resource estimates from Seabridge Gold, Pretium and Tudor as published on SEDAR. The figures combine Measured, Indicated and Inferred amounts for the sole reason of expressing the geological prospectivity of this area and should not be relied on in the context of individual deposits or companies.
  8. BC Geological Survey, MINFILE Number: 104B 008, Eskay Creek Detail Report.
  9. Skeena Website.
  10. Technical Report on the Red Chris Copper-Gold Project, September 30, 2015
  11. Ascot website.
  12. EY LLP, 2020 British Columbia Mineral and Coal Exploration Survey.
  13. Company news releases.

Author: Resource World

Share this article:

Precious Metals

Why Authoritarianism Must Prevail

Why Authoritarianism Must Prevail

Authored by Robert Wright via The American Institute for Economic Research,

Freedom anywhere is a threat…

Share this article:

Why Authoritarianism Must Prevail

Authored by Robert Wright via The American Institute for Economic Research,

Freedom anywhere is a threat to authoritarianism everywhere. That is why authoritarians must destroy all freedom and why liberty lovers, and even the merely “lib-curious” (liberty curious), must not just resist blatant authoritarianism, but reject it in all its guises. The fate of the nation, and the world, again hangs in the balance.

To the extent that any freedom persists, authoritarian diktat can be subverted, albeit at a cost. History is rife with examples of bizarre entities, like nonbank banks (I kid you not!), rent-a-banks (ditto!), and gold caches, designed to work around branching restrictions, usury laws (maximum interest rates), the criminalization of holding gold, and sundry other attempts to limit financial freedom. (See my Financial Exclusion for details.)

To squelch “undesirable” activity, like increasing bank competition, voluntarily lending/borrowing small amounts of money at rates commensurate with the attendant costs and risks, or trying to protect one’s family against fiat money inflation, government must outlaw the workarounds too. To get their way, statists must suppress all unapproved activities, which ultimately means forcing would-be innovators to obtain permission before they can lawfully engage in any new activities.

Consider, for example, recent calls to allow the IRS to monitor essentially all bank accounts in the country. Maybe Americans will accept it, if, as claimed, the power is only used to enforce current tax laws. But if tax rates rise appreciably, as it seems they will, given the current administration’s policy goals, or if the transaction information is used for partisan political purposes, or to shame or coerce people into buying this, or not buying that, Americans will begin to search for workarounds. To the extent that the workarounds prove successful, government will be forced to outlaw the workarounds too.

For instance, if workers ask their employers to pay them in Federal Reserve Notes or Bitcoin because they believe that the transaction costs of making payments in those media will be less burdensome than giving some party hack access to the most intimate details of their lives, the government may well force employers to pay workers only in USD and only via bank transfer. It might even ban cryptocurrencies entirely, or at least try to.

Workers might then make one payment per month, to a “bill paying service” that for a fee will pay their bills for them, out of its one, giant bank account. Oh, but that sounds like an unregulated bank taking uninsured deposits so those services will have to be suppressed as well, or perhaps replaced by the central bank.

People may then begin paying everything by credit card, and even direct their employers to repay their credit card issuers directly. Next thing you know Uncle Sam will want to see your credit card statements too. Ditto PayPal, Venmo, and any other fintech apps used to make or receive payments. Thus a seemingly innocuous request to see bank accounts for tax purposes becomes the excuse for full-blown financial repression. This will, as always, hurt the poor the most.

Employers might work around those laws, along with the tax code and vaccine mandates by converting their employees into volunteers and donating payroll to a nonprofit charity with the singular mission of ensuring that the “volunteers” receive “donations” that happen to match the value of their former compensation. Imagine the chaos if every employer simultaneously did that! Government would have to respond by tightly regulating, if not outright outlawing, charities and volunteer work. Our liberty would be truly lost at that point, and again the poor would suffer most.

Corporations shouldn’t be taxed, but they are. Many of the largest have engaged in (international) tax arbitrage by adroitly shifting headquarters, production facilities, and charters between different states, provinces, and countries. Governments are now fighting back by establishing a global minimum corporation tax. How long before some entity begins to offer oceanic or orbital (then moon, then Martian) charters as tax havens? Soon after, though, private space flight and oceanic colonization will likely be banned or heavily restricted.

Everyone should be aware that if an international gold ETF issuing bearer shares, Honeypot.xxx (a sex worker-owned substitute for OnlyFans), a parallel university system, or anything else of import that runs against the woke or statist grain begins to gain commercial traction, regulatory hammers will swiftly bludgeon the innovators into compliance, or out of existence.

Were that all! When statist solutions to perceived “problems” create real problems, the call inevitably goes out for yet more government. When pressed about how to pay for UBI (various universal basic income) schemes, for example, schemes that are purportedly needed to solve a nearly nonexistent income disparity “problem,” proponents will sometimes argue for the establishment of a Sovereign Wealth Fund (SWF, or a giant investment fund owned by a government), the dividends and realized capital gains of which can be divided equally among the citizenry. 

UBI proponents are not sure where the money to fund the SWF will come from, or if it is a good idea to concentrate all that economic and political power in one decision maker’s hands, but if you want to see their true colors, ask them why individuals cannot simply invest their own money for themselves. Turns out that elites believe that most Americans don’t know how to invest properly, in the “right” (which is to say Left) companies. So look for a push to outlaw individual investment in favor of a SWF-funded UBI, or at least a narrowing of choice to SEC-approved ESG funds. You may still own something in 2030, but it seems increasingly unlikely you will be happy.

America and the rest of the West have been sliding down the slippery slope of statism for so long that they are now rapidly approaching the precipice that ends in rock bottom. Will liberty be crushed and a new dark age commence? Or will the masses then finally see governments as the problem, rather than as the solution?

Tyler Durden
Fri, 10/22/2021 – 21:00






Author: Tyler Durden

Share this article:

Continue Reading

Articles

Hawkish Powell Hits Stocks; Bitcoin Flat As Breakevens, Bond Yields & Bullion Bounce

Hawkish Powell Hits Stocks; Bitcoin Flat As Breakevens, Bond Yields & Bullion Bounce

A very mixed week across the asset-classes.

Hawkish…

Share this article:

Hawkish Powell Hits Stocks; Bitcoin Flat As Breakevens, Bond Yields & Bullion Bounce

A very mixed week across the asset-classes.

Hawkish Powell: rate-hike expectations surged higher but stocks gained, crude rallied but copper tumbled. Growth and Value stocks basically ended the week up around the same amount (while Cyclicals modestly outperformed Defensives). Perhaps most notably, rates vol and stock vol expectations are dramatically decoupled from one another.

Inflation: Breakevens soared to record highs… globally, bullion bounced but bitcoin ended the week unchanged and bonds only modestly higher in yield.

Source: Bloomberg

We do not that the long-end of the curve notably outperformed today (flattening the curve significantly) after Powell’s comments, in a clear signal from the market that it’s expecting a Policy error

Source: Bloomberg

Arguably, as Goldman details below, the market could be morphing back from a ‘stagflation’ narrative to a ‘reflation’ narrative

Heading into the week, the ‘stagflation’ narrative was continuing despite the fact that the S&P 500 had already bounced off of its late-September bottom and was heading back towards an all-time high.  And as we exit the week, the inflation debate seems to be evolving into a ‘the Fed will hike earlier’ narrative, with yields on 2-year Notes spiking to 0.50% — a level last seen in the first days of the pandemic way back on March 18, 2020.  Praveen Korapaty writes in last Friday’s note, “Front-end pressures mount,” that markets appear to have returned to a paradigm of simultaneously bringing forward and/or accelerating hike pricing and taking down terminal rate assumptions. Bond investors appear to be increasingly thinking that the rise in inflation that we have been observing will translate into an earlier Fed funds rate hike.

And yields on 10-year Treasuries also briefly touched 1.70% this week, suggesting that bond investors are actually also feeling fine about longer-term growth.  And this better feeling is also being reflected in stock prices with the S&P 500 breaking up above 4500 and hitting a new all-time high this week.  So, the ‘stagflation’ narrative seems to be morphing back into a ‘reflation’ narrative — something similar to what we were experiencing when the economy first ‘reopened’ last spring.

Digging into each asset class, stocks ended the week higher overall (despite today’s Powell-driven dip that sent Nasdaq down around 1% today)…

The S&P and Dow closed at record weekly closing highs…

In Canada, the S&P/TSX Composite is up 13 straight days to a new record high – the longest winning streak since 1985…

Source: Bloomberg

Rather interestingly, this week saw “get out and party” recovery stocks underperform the “stay at home and sulk” stocks…

Source: Bloomberg

Cyclicals modestly outperformed Defensives on the week…

Source: Bloomberg

Growth barely outperformed Value on the week…

Source: Bloomberg

TSLA topped FB in terms of market cap again today (to become the 5th biggest company in the S&P) as Musk’s carmaker surged to new record highs above $900…

Source: Bloomberg

But the week’s biggest gainer was Trump’s “TRUTH” SPAC which ended up over 800% (though at one point it was up over 1600%)…

Source: Bloomberg

VIX traded down to a 14 handle this morning – the lowest since before the pandemic lockdowns began…

Treasury yields ended the week higher, but the long-end notably outperformed…

Source: Bloomberg

The yield curve ended the week notably flatter (after a wild ride midweek back to last week’s highs)…

Source: Bloomberg

Policy Error? The flattening started with the June taper chatter…

Source: Bloomberg

Inflation Breakevens soared to record highs today (US 5Y topped 3.0%) across the globe today…

Source: Bloomberg

The dollar ended the week lower, chopping around at one-month-lows…

Source: Bloomberg

Cryptos had a wild ride for the week with Bitcoin reaching new record highs after BITO’s launch before fading back to unchanged on the week today (Ethereum modestly outperformed on the week)…

Source: Bloomberg

Bitcoin ended the week just above $60k, well off the $67k record high…

Source: Bloomberg

The newly launched Bitcoin (futures) ETF (BITO) ended below its opening level…

Bitcoin Futures were well bid as BITO launched but the premium over spot has faded since…

Source: Bloomberg

Commodities were very mixed with copper clubbed and silver soaring (gold and crude also rallied)…

Source: Bloomberg

Rather interestingly, the huge divergence between copper and silver occurred at a key resistance level (around 20 ounces of silver to buy copper)

Source: Bloomberg

Finally, we note Mizuho’s warning of the impact of today’s more hawkish speech from Fed chair Powell. Our view that the divergence of equity implied vol (at pre-pandemic lows) from rates implied vol (rising to the highs of the year in most markets) is unsustainable, is showing tentative signs of turning.

Source: Bloomberg

The sharp move lower in Nasdaq futures and widening of CDS indices is a warning shot, we feel, of how risk assets would break down if the Fed was to try to stamp out inflation at such an early point in the cycle as mid 2022.

Commodities relative to stocks are starting to flash some red alerts…

And if one needed an excuse to buy some protection against that whiplash reality check for stocks, VIX is at a critically cheap level relative to VXV…

Source: Bloomberg

That has not tended to end well for stocks.

Tyler Durden
Fri, 10/22/2021 – 16:01



Author: Tyler Durden

Share this article:

Continue Reading

Articles

Top Mining Small Caps To Watch Right Now

Are mining juniors on your watchlist right now?

Share this article:

Are These Mining Penny Stocks on Your Watchlist in October?

Mining penny stocks have become extremely popular over the last year or so. And, there are a few main reasons why that is the case. For one, mining stocks tend to be more stable than most others, as their trajectories are less affected by speculation. While this is more true with blue-chip mining stocks, it is also the case with mining penny stocks.

[Read More] 3 Biotech Penny Stocks to Watch That Are Climbing Right Now 

In addition to this, many investors have turned to mining stocks this year as a way to avoid the ups and downs of the stock market as a result of Covid. Specifically, gold stocks are highly popular as they present a ‘safeguard’ investment against inflation and market volatility. Historically, gold has been a mainstay in the market during times of economic trouble. And while we are emerging from the pandemic right now, investors are still uncertain about the future. 

As a result, mining stocks remain very popular right now. As we continue to move into the end of the year, it’s worth keeping an eye on the demand for resources such as gold, silver, and other popular mined ores. This will help to illustrate how these stocks could perform in the future. With that in mind, let’s take a look at three mining penny stocks to watch right now. 

3 Mining Penny Stocks to Watch Right Now

  1. IAMGOLD Corp. (NYSE: IAG
  2. Yamana Gold Inc. (NYSE: AUY
  3. B2Gold Corp. (NYSE: BTG

IAMGOLD Corporation (NYSE: IAG)

IAMGOLD Corporation is a mining penny stock that has climbed by over 30% in the past month with 5% of that occurring in the last five days alone. This company develops, explores for, and operates gold mining properties. These properties are located in the Americas and West Africa. Its mines include the Rosebel mine, Essakane mine, and Westwood mine among many others. In addition to gold, the company also searches for silver and copper as well.

[Read More] 4 Penny Stocks For Your List As Trump’s DWAC Stock Breaks The Internet

On October 19th, the company provided its preliminary operating results for the third quarter of 2021. All of IAMGOLD’s mines reported positive results during this period. Its Essakane mine had an average recovery of 83 percent at 3.3 million tons. Additionally, the Rosebel and Westwood mines provided positive results for the company as well.

“We achieved attributable production of 153,000 ounces during the third quarter and are pleased that our total attributable production is trending towards the upper end of the guidance range. Essakane continues to deliver strong results and Rosebel is performing in line with the updated plan.”

Gordon Stothart, the President, and CEO of IAMGOLD

Right now, many investors are turning to gold and mining stocks in general as a way to hedge bets against inflation. And as a popular gold stock, IAG could be worth looking into. Considering this, does it deserve a spot on your penny stocks watchlist?

Penny_Stocks_to_Watch_IAMGOLD_Corp._(IAG_Stock_Chart)

Yamana Gold Inc. (NYSE: AUY)

Yamana Gold Inc. is another gold stock that has been moving up in the last few trading sessions. While its 8% gain over the past month is not as large as IAG’s, it is still substantial considering the relative stability of mining stocks. This company produces various precious metals in the United States however, its primary focus is on the production of gold. Silver is also a big market for Yamana, which it searches for at its development stage properties, exploratory sites, and land positions.

The most recent Yamana update was released on October 4th. The company announced that it will reveal its third-quarter operating and financial results after the market closes on October 28th, 2021. The next day, at 9 a.m. EDT, a conference call and webcast will be held. The financial results of Yamana Gold could have a big impact on its stock price if either positive or negative results are reported. This is something we see with most stocks, and for that reason, financial reports are always important to consider. 

The price of AUY stock is not just dictated by how the company is performing though. The prices of gold and silver are also major contributors to whether AUY stock will move up or down. It seems as though it is a balance between the price of gold, speculation, and the fundamentals when it comes to AUY stock. This is why it is important to stay up to date with the latest in the market. For now, will AUY stock be on your list of penny stocks to watch in October?

Penny_Stocks_to_Watch_Yamana_Gold_Inc._(AUY_Stock_Chart)

B2Gold Corp. (NYSE: BTG)

B2Gold Corp. is one of the bigger recent gainers, pulling in over 26% in gains in the past month. As its name suggests, this company primarily produces gold however, it also searches for other precious metals as well. Currently, B2Gold has three operating mines in Mali, the Philippines, and Namibia. Additionally, B2Gold has other evaluation and exploration assets located in Uzbekistan, Finland, Burkina Faso, and more. It’s worth noting that the company also has an 81% interest in the Kiaka Project.

On October 19th, B2Gold Corp. reported its gold production and gold revenue from the third quarter and first nine months of 2021. The company’s total gold production for the quarter was 310,261oz, which is 7% higher than its budget. This number is also 18% higher than its third-quarter 2020 numbers. Based on its positive performance, the company’s annual production guidance range has been increased to 1,015,000 to 1,055,000oz. 

[Read More] Top Penny Stocks to Buy Now? 3 Under $4 to Watch

The company stated, “The Company is currently compiling its consolidated cash operating costs and consolidated AISC results for the third quarter and first nine months of 2021, which will be released along with its third quarter and first nine months of 2021 financial results after the North American markets close on Tuesday, November 2, 2021.” B2Gold’s full third quarter 2021 financial results will be released on Tuesday, November 2nd after the markets close. Before these results are released, will BTG make your penny stock watchlist?

Penny_Stocks_to_Watch_B2Gold_Corp._(BTG_Stock_Chart)

Are Mining Penny Stocks Worth Buying Right Now?

Finding the best mining penny stocks to buy in 2021 can be challenging. But, with a keen insight into which stocks are performing well, what the industry is doing, and how it could perform in the future, it can be much easier to make money with penny stocks. Considering all of this, do you think that mining penny stocks are worth buying right now or not?

The post Top Mining Penny Stocks You Need to Know About Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

iamgold corporation

Author: A. Lawrence

Share this article:

Continue Reading

Trending