#Gold Bulls Push Forward - Companies Making Big Moves in
Sector: (NASDAQ: $USAU) (NYSE: $NEM)
(TSX: $LUN.TO) (TSX: $WDO.TO)
Point Roberts WA, Delta BC – April 16, 2019
– Investorideas.com,
a global investor news source covering mining stocks releases a snapshot
looking at the gold-mining segment and companies making moves to set themselves
up for a possible “spring” gold rally.
In
a recent article from Mining.com, “The gold miners’ stocks are still marching,
grinding higher on balance in a solid upleg. While interest in this sector has
faded since late February, it is nicely set up for a strong rally. After
consolidating high and establishing a sturdy base, the gold miners are likely
to soon report greatly-improved first-quarter results. Couple that with gold
itself powering higher, and the slumbering gold stocks should surge
substantially.”
U.S. Gold Corp. (NASDAQ: USAU), a US-focused gold exploration and
development company with a portfolio of properties is focusing more on human
assets for April having just announced that the Honorable Ryan K. Zinke has
been appointed to the Board of Directors. His appointment made headlines,
noting his background, “Former Congressman and 52nd US Secretary of the
Interior for the Trump Administration and - A geologist from Montana with
in-depth mining industry regulatory contacts and experience.”
Read
this in full at https://www.investorideas.com/news/2019/mining/04161Stocks.asp
Edward Karr,
President and CEO of U.S. Gold Corp. stated, "All of the Directors of U.S.
Gold Corp. are thrilled to welcome the Honorable Ryan Zinke to our Board. As the former Secretary of the Interior and a
geologist, Commander Zinke has an in-depth knowledge of the governmental
regulatory and permitting process for mining and exploration companies. We look forward to his future contributions
to the overall Board, technical committees and permitting assistance with our
Copper King project in Wyoming.”
The Honorable Ryan Zinke commented, “I look forward to
joining a winning team. U.S. Gold Corp.
has attractive exploration and development projects in two mining friendly
jurisdictions of Wyoming and Nevada. I
am confident that my prior experience can add tremendous value to the
company. I am excited to work closely
with management and the Board to help make mining great again in America.”
This follows news from mid-March,
“U.S. Gold
Corp. Completes Additional District-wide Geochemical Surveys on the Keystone
Project, Cortez Gold Trend, Nevada.”
From the news: Dave Mathewson, Vice President of
Exploration for U.S. Gold Corp. states, "The geochemical data we have accumulated
at Keystone demonstrate that we are potentially dealing with a very large and
complex, Carlin deposit-type system.
One of the larger developments to come out
this month has been from Newmont Mining
Corp. (NYSE: NEM), whose shareholders recently approved
the company's $10 billion takeover of Goldcorp Inc. which is set to create the
world's biggest gold producer with assets across the Americas, Africa and
Australia.
The new company, to
be called Newmont Goldcorp, will overtake the current market leader Barrick
Gold Corp. in annual production, churning out 6 million to 7 million ounces of
gold annually over the next 10 years, compared with Barrick's forecast of 5.1
million to 5.6 million ounces for 2019.
Lundin
Mining Corp. (TSX:LUN) (OTC:
LUNMF) said
on Monday that it would acquire a Brazilian gold-copper mine of
Yamana Gold Inc. for more than $1 billion, helping to boost its base metals
production after a failed acquisition attempt last year.
The Chapada Mine,
located about 270 kilometers (168 miles) northwest of the nation's capital of
Brasilia, began operating in 2007 and is expected to produce about 54,500
tonnes of copper and 100,000 ounces of gold in 2019.
"We believe
the acquisition of the Chapada Copper Mine in Brazil makes sense for Lundin as
it gives them a producing, long life copper-gold mine with growth potential, and
the price paid appears good," Sam Crittenden, an analyst at RBC Capital
Markets, wrote in a note.
Wesdome
Gold Mines Ltd. (TSX:
WDO)
(OTC:
WDOFF) has also announced
upcoming changes to its Board of Directors. At the Company’s upcoming 2019
Annual General Meeting of Shareholders, Mr. Charles Page will retire as
Chairman and director and will not stand for re-election. In addition, Mr.
Rowland Uloth will also be retiring from the Board and will not stand for
re-election at the AGM.
Pursuant
to the Board’s succession plan, following the AGM and pending his re-election
to the Board, Mr. Warwick Morley-Jepson will be appointed as the new
independent Chairman of the Board. Mr. Morley-Jepson has more than 35 years
experience in the mining industry within operations, project and business
development in the precious metal sector.
He served as Executive Vice President and Chief Operating Officer of
Kinross Gold Corporation from October 2014 to December 2016 and as Senior Vice
President, Operations, and Vice President and Regional Vice President - Russia,
between October 2009 and October 2014.
Despite some apathy hanging over the
sector, gold stocks are still marching higher, thanks in part to renewed
interest in the mining sector due to large acquisitions and high profile
company appointments, and positioning for a long term future. The industry
continues to reference peak gold as a
catalyst for some of the mergers and acquisitions and posturing within the
sector, inciting avid gold investors to look for the next possible play.
Investorideas.com has created a directory of gold and mining stocks
for investors following the sector.
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