This is One of the Most Bullish Signs for Gold Prices in 2023

Gold is one of the hottest commodities of the year. All as central banks buy gold at a record pace. In the first two months of 2023, they bought a net 125 tonnes of the metal, according to a report by the World Gold Council. That’s the highest amount recorded since banks became net buyers in 2010, as noted by Mining.com. That’s all positive news 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). Adding even more shine, “Net inflows into gold-backed ETFs turned positive in March after 10 straight months of outflows as the metal’s price flirts with a new record high. Investors added nearly 1 million ounces to all known physical gold ETFs in March, the highest monthly increase since March 2022, when investors added 1.4 million ounces.”

Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example

Calibre Mining Corp. announced that mining commenced at its 100% owned, new high-grade Eastern Borosi open pit mine operation.

Darren Hall, President and Chief Executive Officer of Calibre, stated: “Mining from the Guapinol open pit at Eastern Borosi commenced on schedule and marks another significant milestone in Calibre’s efforts to deliver on expectations and organically grow gold production. With Eastern Borosi open pit reserves at Guapinol of 6.8 g/t gold, we remain on track to deliver consolidated production of 250,000 – 275,000 ounces in 2023, a 20% increase over 2022. After inclusion of this additional high-grade ore, over 1 million tonnes of surplus processing capacity remains at our Libertad mill, demonstrating the potential for additional future growth.

“Our success in developing and mining at Eastern Borosi is due, in large part, to our positive stakeholder engagement and focus on sustainability, contributing to tangible improvements in the quality of life of our host communities in the region. To date, 43% of the population around our Eastern Borosi operation has benefited directly from vocational training initiatives, procurement opportunities or employment.

“As part of our 2023 exploration program, Calibre has two rigs drilling within the 176-km² Eastern Borosi land package, which hosts numerous low sulphidation gold-silver vein deposits and targets and strong potential for discovery of new zones and expanded resources.”

Other related developments from around the markets include:

Barrick Gold Corporation will release its Q1 2023 results on Wednesday, May 3, 2023. President and CEO Mark Bristow will host a live presentation of the results that day at 11:00 EDT, with an interactive webinar linked to a conference call. Participants will be able to ask questions. The company will release its preliminary production, sales and cost information for Q1 2023 on April 13, 2023.

Newmont Corporation submitted a revised non-binding indicative proposal to the Board of Directors of Newcrest Mining Limited (Newcrest) to acquire 100 percent of the issued share capital of Newcrest by way of an Australian Scheme of Arrangement, under which Newcrest shareholders would receive 0.400x Newmont shares per each Newcrest share held. In addition, Newcrest would have the right to fund and pay to its shareholders a special dividend of up to USD$1.10 per Newcrest share. Newmont’s improved offer on these terms is best and final, subject only to no superior proposal emerging.

Franco Nevada Corp. recently announced “strong fourth quarter and annual results for 2022. Our Diversified assets outperformed due to elevated energy prices in the year, stated Paul Brink, CEO. We are pleased that First Quantum and the Government of Panama have agreed on terms for a refreshed concession contract and look forward to Cobre Panama achieving its expanded throughput capacity later this year. Precious metal GEOs and Diversified production in 2023 are expected to be consistent with 2022. We are however guiding to lower total GEOs for the year as current energy prices are below 2022 levels. The organic growth in our 5-year outlook comes from both mine expansions and new mines. Franco-Nevada is debt-free, is growing its cash balances and has an active pipeline of growth opportunities.”

Royal Gold Inc. announced that its Board of Directors has declared its second quarter dividend of $0.375 per share of common stock. The dividend is payable on Friday, April 21, 2023, to shareholders of record at the close of business on Thursday, April 6, 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 Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for disclaimer.

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