Gold
Stocks Sector Snapshot: Possible Spring Gold Rally; (NASDAQ: $USAU) (NYSE:
$NEM) (TSX: $LUN.TO) (TSX: $WDO.TO)
Point
Roberts, WA and Delta, BC - April 17, 2019 (Investorideas.com Newswire) 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.”
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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