As the Market Struggles International Experts See Strong Positive Outlook for Gold in Short Term

FinancialNewsMedia.com News Commentary

PALM BEACH,  Fla., July 20, 2021 /PRNewswire/ -- A number of experts who follow Gold see more room for it to rise in both the short and long terms. First it was the pandemic that helped push its prices to all-time highs, and in the near future it may well be inflation that keeps it increasing. One follower of the market, The Economic Times, said that Gold prices rose nearly 7 per cent in May, marking the second green candle for the year so far. The yellow metal traded with high volatility in the range of $1,765 to $1,913 and marked the highest level in four and half months. Similarly, silver also traded with high volatility and ranged from $25.85 to $28.89. This move was aided amidst volatility in industrial metals, US Treasury yields and the US dollar.   It said: "Increased inflationary pressures as a result of unprecedented levels of stimulus injected into the global economy as well as expectations that interest rates will remain close to zero for a longer period provided support to the metal. Fed officials have signaled that the factors driving the change in inflation are mostly transient, such as heavy fiscal stimulus and supply chain bottlenecks, and that is likely to fall back later in the year. The US Treasury Secretary had in the recent past sounded optimistic on US growth and downplayed inflation… April's weak employment data have lent further support to the viewpoint that the Fed will continue to remain accommodative for a longer period or, at least, until the labor market moves closer to its full potential. It is important to note that the US central bank has hinted repeatedly that substantial progress in the economy would be needed before officials consider any changes in the monetary policy."   Active stocks in the mining markets this week include St. James Gold Corp. (OTCQB: LRDJF) (TSX-V: LORD), Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K), YAMANA GOLD INC. (NYSE: AUY) (TSX: YRI), Victoria Gold Corp. (OTCPK: VITFF) (TSX: VGCX).

Economic Times continued: "After falling nearly 14 per cent in the first four months, assets of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose by nearly 30 tonnes in May, justifying the move in metal prices. According to CFTC data, speculators raised their long positions in COMEX gold and silver in the previous month.  The prices may continue to move with a positive bias, supported by building inflationary pressures and expectations of a prolonged ultra-accommodative monetary policy from the US central bank. Investors will continue to watch upcoming economic data closely to keep a track of the post-pandemic recovery. Any future comments on inflation and interest rates by Fed officials would also be in focus since gold is used as a hedge against higher inflation."

St. James Gold Corp. (OTCQB: LRDJF) (TSX-V: LORD) BREAKING NEWS:  ST. JAMES GOLD CORPORATION MOBILIZES DRILL AND CREWS TO THE 2.47Moz Au FLORIN GOLD PROJECT IN THE YUKON TERRITORY, CANADA  -  St. James Gold Corp. (the "Company" or "St. James Gold ") is pleased to announce that it has commenced camp construction and mobilized drill equipment and crew to the road accessible Florin Gold Project Located in Mayo District, Yukon Territory.  The 28 member crew will oversee up to a 13,000 m, diamond drill program aimed at expansion of the 2.47 million ounce inferred gold resource which sits on a northwest striking structure known as the Jethro Fault (see St. James Gold Corp news release dated April 9, 2021).

The existing resource is based on drilling approximately 900 metres along the strike of the fault which has been traced for five kilometres and is the site of three further, significant geochemical anomalies. The planned program intends to drill six priority targets down to a depth of 300 metres on an untested step-out target adjacent to the inferred resource. Another anomalous area, the Treadwell Anomaly, that returned gold in soil assay results up to >500 ppb gold will be tested by further drilling later in the drill program.

The geochemical results are significant as they show that the targets have similar strike potential to the existing mineral resource area.  These target areas are important as they indicate that this prospect holds the potential and structural complexity to increase in size.

Noteworthy is the mapped area to the Northwest of the existing Resource and adjacent to hole Ice 28 which yielded 526 metres of 0.75 g/t Au and within that occurs close to surface 101 metres of 1.41 g/t Au and within that lie a stockwork cross structure that yielded high grade 2 metres of 25g/t Au.

The Company has also commissioned a contractor to complete a LiDAR survey over the entire claim block which will support structural interpretation of the project area.

As stated by George Drazenovic, CEO of St. James Gold, "We are launching one of the most extensive exploration campaigns ever carried out on the property.  The campaign will prioritize the most prospective areas for drilling having been informed by an accumulation of data, including geochemical work, from previous exploration seasons.   Geological mapping, sampling, drilling and geophysical work completed in prior seasons indicate expansion potential of the resource to the northwest and southeast on the Jethro fault.  One of our key objectives for this season's work exploration program is to extend the footprint of the 900 metre inferred resource which was last drill tested in 2011, and to add data points to the existing geological model."   Read these entire releases for the St. James Gold at:  https://stjamesgold.com/news/

Other recent developments in the mining markets include:

Kinross Gold Corporation (NYSE: KGC) (TSX: K) recently inked a definitive agreement with the government of Mauritania to provide enhanced certainty on Tasiast economics.

The agreement includes key terms such as continuation of tax exemptions on fuel duties, repayment of roughly $40 million to Kinross by the government in outstanding VAT refunds and payment of $10 million to the government by the company to resolve disputed matters.  It also introduces an updated escalating royalty structure linked to the gold price that aligns with current Mauritanian mining legislation and is comparable to other royalties in the region. The agreement also states the nomination of two observers by the government to the board of the Kinross subsidiary operating the Tasiast mine.

Victoria Gold Corp. (OTCPK: VITFF) (TSX: VGCX) produced 32,140 ounces of gold during the period April 1 to June 30, 2021; the second quarter of 2021. Year-to-date gold production is 58,899, an increase of 51% over the same period in 2020.

"Q2 was another good quarter at Eagle and with increased ore stacked, we expect to see continued growth in quarter over quarter gold production," stated John McConnell, President &CEO. "The plant modifications we made in Q4 2020 and Q1 2021 are really starting to pay off."  Gold production in Q2 2021 was 32,140 ounces, a 12% increase from the same period of 2020. Ore and waste tonnes mined as well as strip ratio in Q2 2021 were similar to the same period of 2020. Tonnes stacked were 8% higher in the second quarter of 2021 versus the second quarter of 2020 and year-to-date were 10% higher compared to the same period last year.

YAMANA GOLD INC. (NYSE: AUY) (TSX: YRI) will release its second quarter 2021 operational and financial results after the market close July 29, 2021, followed by a conference call and webcast on July 30, 2021, at 9:00 am ET.

Concurrently with the operational and financial second quarter results, the Company will also provide a detailed update on the Phase 2 expansion of the Jacobina mine as well as an update on the construction of the Odyssey underground project at Canadian Malartic along with certain other progress updates on development projects and exploration. Furthermore, the Company expects to announce the results of the feasibility update on the Company's wholly-owned Wasamac project in Quebec in advance of its second quarter results, and plans a separate detailed presentation conference call and webcast relating to the project development soon after the announcement.

Newmont Corporation (NYSE: NEM) (TSX: NGT) recently announced that its Board of Directors has approved advancing the Ahafo North Project into the execution phase. The project exceeds the Company's required internal rate of return, adding profitable production from the best unmined gold deposit in West Africa.

"I am pleased to announce the approval of full funding for the Ahafo North Project, expanding our existing footprint in Ghana and adding more than three million ounces of gold production over an initial 13-year mine life," said Newmont President and CEO, Tom Palmer. "The development of this prolific ore body will leverage our proven operating model and will be supported by our existing world-class Ahafo South operation. The project will be developed and operated in a sustainable and responsible manner to create value for all our stakeholders."

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