Palm Beach, FL – November 16, 2021 – FinancialNewsMedia.com News Commentary – As history has shown again and again, Gold will go up and down but it always seems to end up on the high side… eventually. For much of this year, rising inflation has been bad news for gold. Now it’s giving the metal a shot in the arm, according to a recent article from Bloomberg News. The article said: “While bullion is often bought as a way to protect wealth when consumer prices are climbing, this year’s inflation had weighed on the metal as investors bet that it would spur the Federal Reserve to scale back huge stimulus measures. But with the Fed determined to keep rates low while unemployment remains elevated, worries about out-of-control inflation are boosting gold’s allure. That was clear on Wednesday (11/10/2021), when gold jumped to break out of a 15-month downtrend after data showed U.S. consumer prices rose the fastest since 1990. On Thursday, spot prices rose as much as 0.9%, before paring some of the gain.” It continued: “Inflation “is not transitory,” said Nicky Shiels, head of metals strategy at MKS (Switzerland) SA. “It’s injected some bullish momentum. That’s a change from the previous ‘thinking’ since the Fed’s taper threat is out of the way.” Active Companies in the markets today include Kingfisher Metals Corp. (OTCQB: KGFMF) (TSX-V: KFR), Great Bear Resources Ltd. (OTCQX: GTBAF) (TSXV: GBR), Newmont Corporation (NYSE: NEM) (TSX: NGT), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Kinross Gold Corporation (NYSE:KGC) (TSX:K).
Gold’s recent rally shows that the market doesn’t expect the Fed — which last week announced the pace of its bond-buying tapering — to do much more to tackle inflation right now. That’s creating a Goldilocks environment for the metal, where inflation erodes bond yields that are kept in check by stimulus measures, burnishing the appeal of non-interest bearing assets like gold. It’s not just the U.S. seeing inflation accelerate. Data also show prints in China, Japan and Germany climbing the fastest in decades, and there are signs that’s sparking fresh physical demand for gold. “German private investors have already reacted to the recent higher inflation rates with rising demand,” said Alexander Zumpfe, a senior trader at refiner Heraeus Metals Germany GmbH & Co. “We are observing a significant increase in buying interest for gold bars.”
Kingfisher Metals Corp. (OTCQB: KGFMF) (TSX-V: KFR) BREAKING NEWS – Kingfisher Intersects 6.88 g/t Au, 13.60 g/t Ag, and 0.28% Cu over 9 m in first-ever drill program, Cloud Drifter Trend, Goldrange Project – Kingfisher Metals Corp. (OTCQB: KGFMF) (TSX-V: KFR) (FSE: 970) (“Kingfisher” or the “Company”) is pleased to announce results from the first four holes assayed from its 14-hole 4925.3 m 2021 program. Assay results for 10 remaining drill holes are pending. Goldrange is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.
- Discovery of a high-grade sulfide-cement hydrothermal breccia with 6.88 g/t Au, 13.6 g/t Ag and 0.28% Cu over 9 m, in GR21-007
- Vein-style mineralization yielding 14.80 g/t Au over 1 m within 2.16 g/t Au over 8 m, also in GR21-007; and 5.30 g/t Au over 1 m in GR21-002
- Drilling to date has also revealed broad zones of near-surface mineralization over significant widths, such as 0.90 g/t Au over 12 m, 0.41 g/t Au over 16 m, 0.38 g/t Au over 9 m, and 0.38 g/t Au over 10 m in GR21-003; and 0.32 g/t Au over 7 m and 0.32 g/t over 8 m in GR21-007
The initial results of drilling confirm the presence of a gold system with significant intersects in all holes other than GR21-001, which failed to reach target depth due to difficult drilling conditions in this shallow, slope-parallel hole; poor recoveries may have plagued the shallower parts of all drill holes in this release
The 2021 drill program targeted a small part (350 m) of the western end of the gold-in-soil geochemical anomaly that defines the ~3 by 2 km Cloud Drifter Trend, in an area of extensive forest cover and limited outcrop…
… Dustin Perry, CEO of Kingfisher states “I am thrilled that we were able to intersect high-grade mineralization on the initial drill holes of the first ever diamond drill program at the Goldrange Project. This initial drill program at Goldrange covered less than 10% of the Cloud Drifter Trend yet it is yielding some impressive intersections so far. We believe we are in the early stages of the discovery of a significant high-grade gold camp and we look forward to receiving our remaining results from both the Cloud Drifter drilling and from our property-wide exploration (soil and rock geochemical sampling, geological mapping, and IP geophysics). Planning for an expanded 2022 drill and field program throughout the Trend has already begun.”
Charlie Greig, Technical Advisor to Kingfisher, stated “The results from the first Cloud Drifter holes are exciting. To get broad ore grade intercepts in the initial holes bodes very well for the exploration potential of the Trend. The polyphase nature of the mineralization and its association with elevated bismuth, tellurium and antimony, elements which may be valuable in their own right and which are very commonly associated with high-grade gold deposits worldwide is significant. It is very early days for the Goldrange Project and its numerous mineral occurrences, which are just now beginning to be tested with modern exploration methods.” CONTINUED… Read this full release for Kingfisher Metals Corp. at: https://www.financialnewsmedia.com/news-kfr/
Other recent Solar developments in the markets include:
Great Bear Resources Ltd. (OTCQX: GTBAF) (TSXV: GBR) recently reported gold recovery test results from its 100% owned flagship Dixie Project, in the Red Lake district of Ontario.
Chris Taylor, President and CEO of Great Bear said, “We selected what were anticipated to be the ‘most difficult’ mineralized domains to extract gold from at the LP Fault, and are pleased to report very high gold recoveries at all grades. This has strong positive implications for the future development potential of the Dixie project. Similar very high gold recoveries from the Dixie Limb and Hinge zones using comparable grinding and cyanidation protocols indicates mineralized material from all gold zones is likely amenable to processing through the same extraction circuits. Initial LP Fault cyanidation gold recovery tests confirm that non-refractory, free gold dominates all low to high-grade domains tested to-date. All Dixie gold zones have excellent potential for significant gravity circuit gold recoveries, which will be investigated in the next phase of metallurgical testing.”
Newmont Corporation (NYSE: NEM) (TSX: NGT) recently announced third quarter 2021 results. THIRD QUARTER 2021 HIGHLIGHTS WERE: Produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounces from co-products; Reported gold CAS* of $830 per ounce and AISC* of $1,120 per ounce; Updated full-year guidance of 6.0 million ounces of attributable gold production, $790 per ounce of CAS and $1,050 per ounce of AISC**, reaffirming original guidance of 1.3 million gold equivalent ounces from copper, silver, lead and zinc; Generated $1.1 billion of cash from continuing operations and $735 million of Free Cash Flow (97 percent attributable to Newmont); Declared third quarter dividend of $0.55 per share, consistent with the previous quarter; Completed $99 million of share repurchases from $1 billion buyback program; Ended the quarter with $4.6 billion of consolidated cash and $7.6 billion of liquidity with a net debt to adjusted EBITDA* ratio of 0.2x; Delivered the gold industry’s first Autonomous Haulage System (AHS) fleet, improving safety and long-term productivity at Boddington; Advancing near-term projects, including Tanami Expansion 2, Ahafo North and the mining method change at Subika Underground; and Progressing Yanacocha Sulfides, investing at least $500M through 2022 with a full funds decision expected in the second half of 2022.
Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) — Strong third quarter production from its Africa and Middle East (AME) and Latin America regions has positioned them to meet the top end of their guidance for the year. At the same time, Nevada Gold Mines (NGM) posted a quarter-on-quarter improvement and, with its Carlin mill operations now restored, is set to end 2021 with an enhanced quarter, positioning Barrick for a strong finish to the year.
The company’s Q3 results, recently published, report attributable gold production for the quarter of 1.09 million ounces and 3.23 million ounces for the year to date. Attributable copper production for the quarter was 100 million pounds and 289 million pounds for the year to date. Net earnings per share were 20 cents and adjusted net earnings per share were 24 cents.
Kinross Gold Corporation (NYSE:KGC) (TSX:K) recently announced that the Company’s Board of Directors has declared a dividend of US$0.03 per common share for the third quarter of 2021.
The dividend is payable on December 15, 2021 to shareholders of record as of the close of business on December 1, 2021. This dividend qualifies as an “eligible dividend” for Canadian income tax purposes while dividends paid to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes.
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining.
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