Another Spike in Gold Prices is Coming, Says Barrick Gold CEO

Gold prices may have pulled back, but don’t count it out just yet. In fact, according to Barrick Gold CEO Mark Bristow, as noted by

Kitco.com

, another gold spike is coming, which could be beneficial for companies such as

West Mining Corp.

(CSE:WEST) (OTC:WESMF),

AngloGold Ashanti Limited

(NYSE:AU),

Barrick Gold Corp.

(NYSE:GOLD) (TSX:ABX),

Franco Nevada Corporation

(NYSE:FNV), and

Newmont Corporation

(NYSE:NEM)(TSX:NGT).

Also, according to Zacks, “Inflation expectations are likely to move higher, which will support the yellow metal. Historically, gold has performed well in high inflationary environments. Further, economic recovery in China will lead to higher demand for the yellow metal.”

That could all be beneficial for companies, such as


West Mining Corp

.

, which for example,


just announced that it has secured The Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol WESMF. The Company’s common shares traded on the OTC Market in the United States, under the symbol “WESMF” are Depository Trust Company eligible, effective March 10, 2021. The DTC will facilitate electronic settlement of transfers of its common shares in the United States.

Nicholas Houghton, Chief Executive Officer of West states: “We are very pleased to have obtained DTC eligibility. West is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community. This electronic method of clearing securities expedites the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms. The DTC’s electronic settlement of our shares is critical to having an effective market.”


AngloGold Ashanti Limited

recently reported a fivefold increase in its full-year dividend payment and added 6 million ounces of new Ore Reserve, on a gross basis, as it chartered a return to growth in the coming years. “After several years of rationalizing our portfolio, we have a clear and credible path to disciplined, high-return growth,” Interim Chief Executive Officer Christine Ramon said. “We’ve built a solid balance sheet, which allows us to continue self-funding our capital investment, while rewarding shareholders.”


Barrick Gold Corp.



released its annual reserve and resource declaration with its Q4 and year-end results to December 31, 2020. Attributable mineral reserves reflect a 76% replacement of depletion, with a consistent reserve grade maintained year-on-year, after adjustment for the disposal of Massawa. Similarly, excluding the impact of Massawa, the net reduction in reserves year-on-year is approximately 2%. Attributable group reserves, reported at $1,200/oz1, stand at 1,300 million tonnes at 1.66g/t for 68 million ounces2 of gold.


Franco Nevada Corporation

recently announced that its Board of Directors has declared a quarterly dividend of US$0.26 per share. The dividend will be paid on March 25, 2021 to shareholders of record on March 11, 2021. The Canadian dollar equivalent is to be determined based on the daily average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident individuals who receive “eligible dividends” are entitled to an enhanced gross-up and dividend tax credit on such dividends. The Company has a Dividend Reinvestment Plan (the “DRIP”). Participation in the DRIP is optional.


Newmont Corporation

and GT Gold Corp. announced that the companies have entered into a binding agreement in which Newmont will acquire the remaining 85.1% of common shares of GT Gold not already owned by Newmont. Under the terms of the agreement, Newmont will acquire each GT Gold share at a price of C$3.25, for cash consideration of approximately US$311 million (C$393.0 million).

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for West Mining Corp. by a third party. We own ZERO shares of West Mining Corp. Please

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