Most of the issues that supported gold’s rally in 2020, are carrying over into the New Year. In fact, the metal could easily outperform again, especially with central banks saying they’ll keep rates low, and provide necessary liquidity. In addition, gold prices could rise further with more stimulus likely to weaken the U.S. dollar.
Analysts at Citi for example have a $2,500 price target, comparing its catalysts to that of gold’s rally between 1970 and 1980. Not only could we see a weaker dollar, but inflationary risks, falling real yields, and the potential for further market volatility.
“The conditions that drove gold to an all-time high this year are very much still in place. I think it’s just natural that once you get to an all-time high in an asset class, there’s some consolidation afterwards and that’s what we’re seeing right now in terms of the price. But the fundamental conditions are still here and I believe that they will be here for the next 12-15 months minimum as well,” said GraniteShares founder and CEO, Will Rhind, as quoted by CNBC.
Stevens Gold Nevada Inc. (CSE:SG)(OTC:STVGF) Could Benefit
The company’s common shares have begun trading on the Frankfurt Stock Exchange (the “FSE”) under the symbol 311. The Company’s common shares are now cross-listed on the Canadian Securities Exchange, the OTCQB, and the FSE.
This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers while cutting costs and providing access to a wider network of brokerage firms, enabling the stock to be traded over a wider selection of firms by coming into compliance with their requirements.
“This is another milestone for Stevens Gold. The Company’s common shares are now listed on three stock exchanges in three countries: Canada, USA, and Germany,” stated Charles MaLette, President and CEO. “The Frankfurt Stock Exchange listing will provide us an opportunity to grow our shareholder base throughout Europe and allow European investors to follow Stevens Gold’s exploration of its Millennium Gold property in Arizona.”
The Frankfurt Stock Exchange is one of the world’s largest trading centres for securities. With a share in turnover of around 90 per cent, it is the largest of Germany’s seven stock exchanges and it is an international trading centre, which is reflected in the structure of its participants. Of the approximately 200 market participants, roughly 50 per cent are from countries other than Germany. The FSE facilitates advanced electronic trading, settlement and information systems, allowing it to meet the growing requirements of cross-border trading.
Other related developments from around the markets include:
AngloGold Ashanti Limited
(NYSE:AU) is pleased to announce that AGA, together with its joint venture partner IAMGOLD Corporation, have completed the sale of their entire interests in
Socie´te´ d’Exploitation des Mines d’Or de Sadiola S.A.
to Allied Gold Corp. SEMOS’ principal asset is the Sadiola Mine located in the Kayes region of Western Mali. Prior to the completion of the Transaction, AGA and IMG each held a 41% interest in SEMOS with the remaining 18% interest held by the Republic of Mali. Pursuant to the Transaction and immediately prior to Completion, the Republic of Mali acquired a further 2% interest in SEMOS (1% each from AGA and IMG). Consequently, upon Completion, AGA and IMG each sold a 40% interest in SEMOS to Allied Gold Corp.
Barrick Gold Corp.
(NYSE:GOLD)(TSX:ABX) announced
preliminary full year and fourth quarter 2020 results
which indicate that it has met its 2020 guidance targets. Preliminary gold production for the full year of 4.8 million ounces is at the midpoint of the 4.6 to 5.0 million ounce guidance range, while preliminary copper production of 457 million pounds is also within the guidance range of 440 to 500 million pounds. The preliminary Q4 results show sales for the quarter of 1.19 million ounces of gold and 108 million pounds of copper, as well as preliminary Q4 production of 1.21 million ounces of gold and 119 million pounds of copper. The average market price for gold in Q4 was $1,874 per ounce, while the average market price for copper was $3.25 per pound.
Franco Nevada Corporation
(NYSE:FNV)
delivered record revenue
, EBITDA and net earnings in the third quarter with all material Mining assets having returned to normal operations through the quarter. The Company continued to lead its royalty and streaming peers with the highest EBITDA margins and, in particular, with a record earnings margin of 55% in the quarter. “It is exciting for the future to see the level of organic growth across our portfolio of producing, advanced and exploration assets”, stated Paul Brink, CEO. During the third quarter, 25 new royalties were added to the portfolio bringing the number of mining related assets to 316. The Company’s Energy assets also benefitted from a rebound in oil and gas prices. Franco-Nevada expects to be near the high end of its previously announced guidance ranges for 2020, assuming that the recent strike action at Candelaria is resolved and operations resume in the near term.
Newmont Corporation
(NYSE:NEM)(TSX:NGT) announced its Board of Directors has approved a
share repurchase program
for up to $1.0 billion of common equity, to be completed over the next 18 months. The program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout the authorization period, and is in addition to Newmont’s industry-leading dividend framework. Newmont’s capital allocation philosophy balances steady reinvestment in the business, maintaining financial strength and flexibility, and providing leading returns to shareholders. Recently, the Company announced an industry-leading dividend framework, which includes a sustainable base dividend and additional returns at higher gold prices. The share repurchase program builds on the $1.0 billion 2020 program, which retired 22 million shares at an average price of $45 per share.
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 Stevens Gold Nevada Inc. by a third party. We own ZERO shares of Stevens Gold Nevada Inc. Please
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