Palm Beach, FL – December 2, 2021 – FinancialNewsMedia.com News Commentary – Gold has again risen to all-time highs because investors have again rushed to its traditional ‘safe haven’. It rises not despite the pandemic… but because of the global crisis. The trading price is predicted by many to continue to soar and miners are also looking to increase production. After a record year, gold is bound to see more gains in the medium and long-term, according to the CPM’s Gold Yearbook. The CPM Gold Yearbook 2021 contains definitive and detailed statistics and analysis on the international gold markets. The pandemic has changed the world, making some of the existing problems even worse and setting gold up to benefit, the CPM Group said. “While the pandemic will eventually pass, it has left the world changed and has in fact compounded and worsened some of the factors that are supportive of gold prices,” the CPM Group said. The biggest drivers that will support gold as the world reopens include sovereign and private sector debts, deficits, and ultra-loose monetary policies. Governments around the world will struggle to reverse the fiscal policies introduced as a response to the pandemic, said the CPM Group, citing lackluster economic growth in coming years. “This scenario positions gold well for further gains in the medium to long term,” the Yearbook stated. “The pandemic has deepened these problems and will make it harder to reverse some of these issues, which will help to keep investors interested in the metal.” Active stocks in the mining markets this week Clarity Gold Corp. (OTCPK: CLGCF) (CSE: CLAR), Kinross Gold Corporation (NYSE:KGC) (TSX:K), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), Newmont Corporation (NYSE: NEM) (TSX: NGT), Gold Fields Limited (NYSE: GFI).
The CPM Group projects a softer U.S. dollar in 2021 but does not see a total currency collapse. “Investor demand will also remain strong this year, with net additions holdings projected to reach 42.8 million ounces.” A report from MarketsAndMarkets projected that The global gold mining market is forecast to grow from $214.1 billion in 2021 to $249.6 billion by 2026, at a compound annual growth rate (CAGR) of 3.1% for the period of 2021-2026.
Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) BREAKING NEWS: CLARITY GOLD REPORTS HIGH GRADE GOLD INTERCEPTS, INCLUDING 39.29 g/t Au over 0.5 m – Clarity Gold Corp. (“Clarity” or the “Company”) is pleased to announce the third tranche of analytical results from the approximately 10,800 meter diamond drill program at the Destiny Project in the Abitibi Greenstone Belt.
Selected Intercepts DAC Zone
DES21-164: 0.76 g/t Au over 36.65 m and 0.44 g/t Au over 55.9 m
DES21-169: 0.42 g/t Au over 43 m and 1.04 g/t Au over 14.45 m
DES21-170: 1.22 g/t Au over 30 m including 8.85 g/t Au over 2.55 m and 39.29 g/t Au over 0.5 m
DES21-171: 1.34 g/t Au over 14.25 m and 0.78 g/t Au over 37.25 m
Selected Intercepts Gap Zone
DES21-165: 0.32 g/t Au over 25.5 m and 0.34 g/t Au over 24 m
DES21-167: 1.32 g/t Au over 9.6 m including 5.05 g/t Au over 1.6 m
The results in this press release are from holes completed on the central portion of the DAC Zone and Gap Zone that were designed to infill and confirm the mineralized structure and anticipated mineralization identified in historic drilling. The results of this drilling will play an important role in understanding the distribution of mineralization.
“The results from this batch of diamond drill holes further confirm the presence of mineralization in the DAC Zone and western portions of the Gap Zone.” stated CEO, James Rogers. “These results will contribute to the ongoing understanding of the mineralized structure at Destiny while we continue to advance our flagship project.”
It should be noted that drill hole DES21-168, not mentioned herein was previously discussed in the News Release dated September 15th 2021. This describes in further detail the deepest drilled mineralized intersection yet encountered at the Destiny Project.
All drilling on the project mentioned in this disclosure have intercepted anomalous gold and confirmed the presence of the quartz carbonate altered and mineralized shear zone. Gold occurs as free gold and in association with pyrite and chalcopyrite as observed in thin section and in drill core. CONTINUED… Read this entire release along with tables for the Clarity Gold at: https://www.financialnewsmedia.com/news-clar/
Other recent developments in the mining markets include:
Gold Fields Limited (NYSE: GFI) recently published a comprehensive set of 2030 targets for its most material environmental, social and governance (ESG) priorities. The targets include a commitment to reduce its Scope 1 and 2 carbon emissions by 30% on a net basis and by 50% on an absolute basis by 2030. As a signatory to the Paris Agreement on climate change, Gold Fields is committed to Net Zero carbon by 2050.
The Company is also setting ambitious new goals for its water and environmental stewardship, the management of its tailing facilities and to creating value for its stakeholders, particularly host communities. For its employees, Gold Fields is seeking to further improve safety, health and wellbeing, and to achieve greater inclusion and diversity, by targeting a 30% female workforce by 2030.
“Gold Fields has already made significant progress in many ESG priority areas, and we now have to build on this to meet our commitments to stakeholders and the environment,” says Gold Fields CEO Chris Griffith.
Newmont Corporation (NYSE: NEM) (TSX: NGT) recently agreed to sell its Kalgoorlie power business to Australia’s Northern Star Resources Limited (Northern Star). Under terms of the agreement, Newmont receives US$95 million in cash, inclusive of the US$25 million option payment previously received from Northern Star as part of its purchase of Newmont’s 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM) in 2020.
The Kalgoorlie power business has been a profitable asset for Newmont since the sale of its stake in KCGM. The Kalgoorlie power business supplies electricity to KCGM via a suite of contracts, licenses, approvals and third party arrangements, including a 50% interest in the 110MW duel fuel gas turbine Parkeston Power Station near Kalgoorlie, owned in joint venture with Canadian energy utility, TransAlta Corporation.
Kinross Gold Corporation (TSX: K) (NYSE: KGC) recently announced its results for the third-quarter ended September 30, 2021. J. Paul Rollinson, President and CEO, made the following comments in relation to 2021 third-quarter results:
“During the third quarter, our portfolio of mines performed well and we are on track to meet our revised production and cost guidance for the year. We maintained our balance sheet strength while enhancing shareholder returns, as we initiated our share buyback program in addition to declaring our quarterly dividend.
“We are pleased to announce that the Tasiast mill has now re-started at costs below original estimates and is ramping back up. We expect that, in December, the mill will achieve sustained throughput levels comparable to the first half of the year. The mill is also on track to reach 21,000 tonnes per day throughput by the end of Q1 2022.
IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) recently announced results from its 2021 exploration infill drilling program completed at the Diakha deposit on its wholly owned Diakha-Siribaya Gold project located in western Mali along the borders with Senegal and Guinea.
Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: “We are very pleased with the results of our 2021 exploration program, which have helped to demonstrate continuity of mineralization between previously completed drill holes and better delineate the distribution and controls on high grade mineralized structures within the known resource.”
“The data from this program will help improve the current deposit model and support the completion of an updated mineral resources estimation as we continue to advance towards our objective of increasing total indicated resources to above 1.5 million ounces.”
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