Gold Mining Industry Booms as Investors Seek Safe Haven Amid Market Volatility

FinancialBuzz.com News Commentary

NEW YORK, May 15, 2023 /PRNewswire/ -- The gold mining industry is a crucial part of the global economy, generating billions of dollars in revenue each year. Gold has been a valuable commodity for centuries, and its status as a safe haven investment continues to drive demand for the precious metal. The basic economics of the gold mining industry are fairly simple: gold is mined from the earth, refined, and sold to buyers around the world. The price of gold is determined by supply and demand factors, including the amount of gold available for sale, the level of demand from investors, and the strength of the global economy. One of the main drivers of demand for gold is its use as a store of value. In times of economic uncertainty or market volatility, investors often turn to gold as a safe haven investment to protect their wealth. This is because gold is viewed as a reliable hedge against inflation and currency devaluation. As such, gold tends to perform well when other asset classes, such as stocks and bonds, are underperforming. Over the past six months, the price of gold has risen approximately 20%, to more than $2,000 per ounce. iMetal Resources, Inc. (TSX-V: IMR) (OTC: IMRFF), Hycroft Mining Holding Corporation (NASDAQ: HYMC), Gold Resource Corporation (NYSE: GORO), Kinross Gold Corporation (NYSE: KGC), B2Gold Corp. (NYSE: BTG)

Despite the fact that gold is no longer used as a form of currency, it remains a popular commodity due to its scarcity and durability. Gold is also relatively easy to store and transport, making it a convenient form of wealth preservation. As such, gold is likely to remain a valuable commodity for many years to come. Geographically, gold mining is common in many parts of the world, including Africa, Asia, Australia, and the Americas. Canada is one of the largest gold-producing countries in the world, with significant deposits of gold found in several regions, including Ontario, Quebec, and British Columbia. The Canadian gold mining industry is a major contributor to the country's economy.

iMetal Resources, Inc. (TSX-V: IMR) (OTCQB: IMRFF) announced last week, "the restart of drilling after spring break-up at the Company's Gowganda West project, which lies within the prolific Abitibi Greenstone Gold Belt. Drilling was paused in April after five (5) holes and 1914m were completed to accommodate the spring melt. This round of drilling is focused on further delineating gold mineralization in the area of iMetal's ground proximal to Aris Mining's Juby deposit.

Saf Dhillon, President & CEO, stated: 'Drilling at our flagship Gowganda West project continues and we are excited to see the pending assay results. The gold trends proximal to the Juby deposit are of great interest to the Company and we are eager to advance the project further throughout this year.'

The Company engaged Laframboise Drilling Inc. of Earlton, Ontario for this phase of drilling at Gowganda West. Samples are being submitted to ALS Geochemistry in Sudbury for assaying. Completed holes have focused mainly on further delineating trends near the border with Aris Mining, while the remaining holes will also test VTEM targets from the 2019 airborne program.

Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Mining's Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle. iMetal completed a 2611 m drilling program in the fall of 2022 which intersected a new gold trend. The Property also has multiple-ounce grab samples from trends that have yet to be drill tested.

The scientific and technical information contained in this news release has been reviewed and approved by Scott Zelligan, P. Geo (Ontario), VP Exploration of iMetal and a qualified person as defined in National Instrument 43-101."

For our 'Buzz on the Street' Show featuring iMetal Resources, Inc. latest corporate news, please head over to: https://www.youtube.com/watch?v=-YHqmaHsMV4

Hycroft Mining Holding Corporation (NASDAQ: HYMC) announced on May 1^st, the initiation of Phase 2 of its 2022-2023 exploration drill program. Approximately 5,000 meters of reverse circulation ("RC") drilling and 3,500 meters of core drilling are planned for Phase 2. The RC drill rig has arrived on site, and the core drill rig is scheduled to arrive in mid-June. The objectives and specific target areas of Phase 2 are designed to continue the success of Phase 1 and for the first time, test new targets within the Company's vast unexplored land position of over 60,000 acres.

Gold Resource Corporation (NYSE: GORO) announced on April 25^th, that it sold a total of 6,508 ounces of gold and 294,815 ounces of silver in the first quarter of 2023 for a total of 10,055 gold equivalent ounces. Additionally, during the quarter, the Company sold 3,060 tonnes of zinc, 332 tonnes of copper, and 1,417 tonnes of lead. For the quarter ended March 31, 2023, the company reported a net loss of $1 million with revenue of $31.2 million and mine gross profit of $3.9 million from operations. A total of $5 million was invested in the Don David Gold Mine and Back Forty Project. "Our 2023 annual production at the Don David Gold Mine is off to a good start. This achievement is due to mining higher average grades as a result of targeted infill drilling and mine sequencing," stated Allen Palmiere, President and CEO. "Underground resource expansion drilling is progressing as planned. In addition, the mine is managed by a new leadership team that is already realizing improvements to maximize efficiencies and safety protocols. At the Back Forty Project in Michigan, feasibility study work related to metallurgical testing and refinement of capital cost estimates continues."

Kinross Gold Corporation (NYSE: KGC) announced on February 13^th, an initial mineral resource estimate for its 100% owned Great Bear project located in Ontario, Canada. "The Great Bear initial mineral resource estimate marks an exciting milestone for the Company's future development," said J. Paul Rollinson, President and CEO. "In just one year since acquiring the property, we have validated our belief for this to potentially become a world class asset. The initial mineral resource estimate and continuity of high grades and widths at depth reinforces our vision for a high-quality open pit and sizeable underground mine."

B2Gold Corp. (NYSE: BTG) announced on April 27th, additional positive exploration drilling results from the Fekola Regional area in Mali, located approximately 25 kilometers ("km") north and northeast of the Fekola Mine. The Fekola Regional area, comprised of the Anaconda Area (Bantako North and Menankoto permits), the Bakolobi permit, and the Dandoko permit, forms part of the Fekola Complex, which also includes the Medinandi permit that hosts the Fekola Mine and the Cardinal Zone. On April 19, 2023, the Company completed the acquisition of Sabina, resulting in the Company acquiring Sabina's 100% owned Back River Gold District located in Nunavut, Canada by issuing approximately 216 million common shares of B2Gold as consideration. The Back River Gold District consists of five mineral claims blocks along an 80 kilometer ("km") belt. The most advanced project in the district, Goose, is fully permitted, construction ready, and has been de-risked with significant infrastructure currently in place. The Goose Project has an estimated two year construction period, which is expected to be completed in the first quarter of 2025. B2Gold's management team has strong northern construction expertise and the experience to deliver the fully permitted Goose Project and the financial resources to develop the significant gold resource endowment at the Back River Gold District into a large, long life mining complex. B2Gold recognizes that respect and collaboration with the Kitikmeot Inuit Association is central to the license to operate in the Back River Gold District and will continue to prioritize developing the project in a manner that recognizes Indigenous input and concerns and brings long-term socio-economic benefits to the area.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For imetal resources, inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated three thousand dollars by cambridge consulting inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com