PALM BEACH, Florida, May 24, 2017 /PRNewswire/ --
The outlook for gold and precious metals continues to be positive due to market conditions in the US as Trump administration fuels economic uncertainty. As 'Trump trade' fear has resurfaced, some industry professional feel mining companies have realized an uptick in their price per share during the past few trading days recently. Precious Metals companies in the markets this week with developments or leading volume trading includes: Bullfrog Gold Corp (OTC: BFGC), Vale S.A (NYSE:VALE), Freeport-McMoRan Inc. (NYSE: FCX), Cliffs Natural Resources Inc. (NYSE: CLF), AngloGold Ashanti Limited (NYSE: AU)
Bullfrog Gold Corp (OTCQB: BFGC) is pleased to announce the initial closing of a non-brokered US $816,000 private placement of equity. These subscriptions were priced at $0.08 per unit, which consists of one share of the Company's common or preferred stock and a two-year warrant to purchase a full share at an exercise price of $0.15. The lead purchaser in the amount of $540,000 was Eros Resources Corp., a TSXV company led by Ron Stewart, President and CEO and Ron Netolitzky, Chairman. A final closing of additional subscriptions is anticipated on May 31, 2017. Read this and more news for BFGC at http://www.marketnewsupdates.com/news/bfgc.html
Proceeds will mainly be used for advancing the Bullfrog Gold Project ("Project") under programs described below amongst others and general corporate purposes.
- Complete an independent resource estimate before mid-June 2017 followed by a technical report before the end of July 2017, all compliant with Canadian 43-101 standards and US SEC Guideline 7. This work was initiated in mid-March 2017 by the Golden, Colorado office of TetraTech, a recognized global provider of engineering, technical and construction management services with particular expertise in the mining sector.
- Initiate by August 2017 and complete by year end an independent preliminary economic analysis.
- Update the environmental baseline and project engineering sufficient to obtain a Plan of Operations from the US Bureau of Land Management along with other regulatory requirements. Such approvals will permit comprehensive drilling and other site programs to begin in 2018 and extend through the project development period.
- Confirm or re-establish the field survey control systems used by Barrick Bullfrog Inc.
This week market performers in the Precious Metals sector include:
Vale S.A (NYSE:VALE) closed up slightly on Tuesday at $8.63 trading over 25 Million shares by the market close. Vale S.A., together with its subsidiaries, engages in the production and sale of iron ore and iron ore pallets for steelmaking in Brazil and internationally. Its Base Metals segment produces and extracts non-ferrous minerals, including nickel and its by-products, such as ferro-nickel, cobalt, gold, silver, copper, precious metals, and others.
Freeport-McMoRan Inc. (NYSE: FCX) also closed up slightly on Tuesday at $11.88 trading over 11.6 Million shares by the market close. Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as oil and gas.
Cliffs Natural Resources Inc. (NYSE: CLF) closed up over 4% on Tuesday at $6.75 trading over 12.4 Million shares by the market close. Cliffs Natural Resources Inc. is a leading mining and natural resources company. Founded in 1847, Cliffs Natural Resources Inc. is recognized as the largest and oldest independent iron ore mining company in the United States.
AngloGold Ashanti Limited (NYSE: AU) closed up slightly on Tuesday at $11.84 trading over 5.5 Million shares by the market close. AngloGold Ashanti Limited operates as a gold mining and exploration company. The company also produces silver, uranium oxide, copper, and sulphuric acid. Its portfolio includes 17 mines in South Africa, Continental Africa, Australasia, and the Americas.
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