NetworkNewsWire
Editorial Coverage: Investors are flocking to gold, silver and
other precious metals in record numbers. One firm, BullionVault,
reports that in
the past six months demand to invest in gold, silver and
platinum has reached almost half a billion dollars. “Net of client
selling, investing in physical bullion on our peer-to-peer platform
— first opened in 2005 — has now topped $442 million since the
pandemic reached Europe and North America in March,” the company
said. Mining companies around the world are benefitting from this
rising investment tide, as they work to strengthen their positions,
increase their holdings and ultimately provide more raw material
for investors looking for more stable options. One of those
companies, GoldHaven Resources Corp. (CSE:
GOH) (OTCQB: ATUMF)
(GOH
Profile), has secured options on some
of the most promising properties in the highly productive Maricunga
Gold Belt of Chile, including one yielding rock chip sample assays
of 764 grams per tonne gold and 719 grams per tonne silver.
GoldHaven plans to commence a drilling program in January 2021.
Yamana Gold Inc.
(NYSE: AUY) is expanding its footprint with its
recent acquisition of Monarch properties in the Abitibi Region in
Quebec, Canada. Other companies are releasing impressive reports
regarding their current operations. Fosterville South Exploration Ltd (OTC:
FSXLF) has provided high-grade assays of up to 152
grams per tonne gold in rock chip samples at the Star of the Glen
target on the Golden Mountain project. Kinross
Gold Corporation (NYSE: KGC) (TSX: K) announced the
results of a prefeasibility study on its Lobo-Marte project, which
indicates the potential of a cornerstone asset with attractive
all-in sustaining costs to enhance the company’s long-term
production profile. Gold
Fields Limited American Depositary
Shares (NYSE: GFI) is
considering a number of automation projects at its South Deep gold
mine in Gauteng, southwest of Johannesburg.
- Strong demand to invest in physical bullion looks set to keep
growing.
- GoldHaven has announced agreements to acquire promising gold
projects in prolific Maricunga Gold Belt of Northern Chile.
- With completion of a recent public offering, GoldHaven is in
strong financial position.
Click here to view
the custom infographic of the GoldHaven Resources Corp.
(CSE: GOH) (OTCQB:
ATUMF) editorial.
A Clear Alternative
“With governments throwing money at the COVID crisis as central
banks abandon any pretense of wanting to curb inflation, this
strong demand to invest in physical bullion looks set to keep
growing,” stated BullionVault. “Savers and investors face a bleak
choice, caught between a stock market in denial about COVID-19's
economic depression or a guaranteed loss of purchasing power from
cash and bonds. Precious metals present a clear alternative as a
store of value.”
It’s that clear alternative that has led to record prices for
both gold and silver. Gold reached above $2,000 per ounce earlier
this year while silver has risen nearly one-third since July, its
fastest upward trend since 1987. “The idea that gold preserves
wealth is even more important in an economic environment where
investors are faced with a declining U.S. dollar and rising
inflation,” states
Investopedia, which notes that historically, gold has served as
a hedge during fragile economies.
“Gold in particular tends to do well when other investments
fall, but it does best when people lose confidence in central
banks, and today's central bank chiefs have lost faith in
themselves,” the BullionVault article reported. “With US Fed chief
Jerome Powell announcing the death of 'inflation targeting' at
central banking's annual Jackson Hole summit last month, the number
of people starting or adding to their gold investment holdings
across August rose 28% from July, reaching the 3rd largest figure
in our 15 years of business.”
Promising Gold Projects, Prolific Location
That trend is certainly borne out by looking at
GoldHaven Resources Corp.’s (CSE:
GOH) (OTCQB: ATUMF)
recent trading. The company’s trades are levered to gold. As the
price of gold goes up, GOH has also gone up multiple percentages,
having traded more than 9 million shares since inception. And the
company is intent on strengthening its position.
Within the past six months, GoldHaven has
announced agreements to acquire promising gold projects in the
prolific Maricunga Gold Belt of Northern Chile, an area that boasts
discoveries within the last decade of more than 100 million ounces
of gold and in excess of 450 million ounces of silver. GOH’s
extensive land position, in the northern portion of the Maricunga
Belt, totals approximately 100 square miles, making it one of the
largest gold exploration players in the Maricunga.
Several of GOH’s projects are strategically located in close
proximity to some of the area’s stellar discoveries, including Gold
Field’s Salares Norte mine, with an excess of 5 million ounces
(Moz.) Au, and La Coipa, a Kinross mine producing more than 7.6 Moz
Au. Work completed to date on GoldHaven’s targeted properties
suggest these key properties may be an analogue to these deposits,
particularly to Salares Norte.
To date GoldHaven has classified four of its
properties as high priority: the Rio Loa, Coya, Alicia and Roma
projects. Both the Rio Loa and Alicia projects are located within
20 miles of Salares Norte, and Coya is approximately 10 miles
northeast of La Coipa. These high-priority targets were
defined following modern-day field evaluations including
mapping, geochemical sampling and satellite imagery, as well
as their location relative to existing deposits and
discoveries. Three of GOH’s projects are drill ready, and the
company anticipates phasing in a drilling program in the first
quarter of 2021.
Exploration, Drilling on the Horizon
GoldHaven is focusing on the next phase — drilling — from a
strong financial position. The recent
completion of two tranches of an oversubscribed, non-brokered
private placement resulted in gross proceeds of $2,449,500; the
combined units issued in both tranches was 12,247,500.
Each unit sold consisted of one common share in the capital of
GoldHaven Resources and one common share purchase warrant; each
warrant entitles the holder to purchase an additional common share
in the capital of the company at an exercise price of $0.30 per
share for a period of 36 months from the closing of the
offering.
The Company plans to use the net proceeds of the offering to
commence exploration and drilling programs on its Maricunga Gold
Belt projects and general working capital with drilling scheduled
to commence early next year.
Impressive Leadership Team
“GoldHaven’s properties rank high as some of the best untested
gold projects in the Maricunga Belt,” said Patrick Burns, GOH
director and head of exploration. A renowned exploration geologist,
Burns has extensive experience in the space. He was directly
involved in the discovery of the Escondida porphyry copper deposit
in Chile, currently the world’s largest copper mine, and the San
Cristobal gold mine, also located in Chile. Burns has been involved
in successful publicly traded exploration companies in Chile for
almost four decades.
Burns is only one of several impressive executives on the GOH
leadership team. Dan Schieber, GoldHaven director and CEO,
established his career in metals and mining finance as an analyst
for the Stabilitas Group of Funds. He also co-founded Euroscandic
International Group where he raised upwards of $350 million in
project financing for specific development projects in the mining
sector. Following that success, he turned to Canadian-based
farmland investments, becoming chief investment officer at Dynamis
Capital Corp., which focuses on long-term, recession-proof
investments with an emphasis on gold and silver.
GoldHaven is the third successful public company that president
and director David Smith has co-founded. Both the previous two
companies traded on the TSX and had an environmental focus. Both
firms were sold yielding significant profits to shareholders.
GoldHaven director Gordon Ellis has more than 50 years of
expertise in the mining industry as a professional engineer, and he
currently serves as director of a multibillion-dollar ETF. Scott
Dunbar, also a GoldHaven director, is a professor and the
department head of mining engineering at the University of
British Columbia. Dunbar has been involved in mining exploration,
geotechnical engineering and mine design projects around the
world.
Added Stability During Uncertain Times
GoldHaven Resources isn’t the only company jostling for position
in the hot mining space. As investors look to the sector for added
stability during uncertain times, other savvy companies are making
strategic moves to leverage their expertise.
Yamana Gold Inc.
(NYSE: AUY) recently entered into a
definitive agreement with Monarch Gold Corporation to acquire
the Wasamac property and the Camflo property and mill in the
Abitibi Region in Quebec. The Wasamac gold underground project is
Monarch’s principal asset and consists of five well-developed ore
shoots within a single, continuous shear zone with a consistent
grade distribution and wide mining widths, making it amenable to
simple, productive and cost-efficient, underground bulk-mining
methods. Mineral resources and proven and probable mineral reserves
are supported by a previous feasibility study, and Yamana completed
independent geological modelling, mineral resources and mineral
reserves validations as part of its due diligence reviews to ensure
greater levels of accuracy.
Fosterville South Exploration Ltd (OTC:
FSXLF) has provided
high-grade assays of up to 152 grams per tonne gold in rock
chip samples at the Star of the Glen target on the Golden Mountain
project. The company has prepared and submitted a drill application
for at least 900 meters at Star of the Glen; in addition, access at
Star of the Glen is secured with a private landholder agreement in
place. Drilling is also ongoing at the main target area at Golden
Mountain. “Star of the Glen is an unexplored high-grade gold
prospect, which is only four kilometers south east of our main
prospect at Golden Mountain,” said Fosterville South COO Rex
Motton. “Fosterville South will incorporate this newly proposed
drill program into its current exploration operations.”
A pre-feasibility study released by Kinross
Gold Corporation (NYSE: KGC) (TSX: K) outlines the
potential of a cornerstone asset — its Marte-Lobo project in
Chile — with attractive all-in sustaining costs to enhance the
company’s long-term production profile. The project adds a
significant 6.4 million gold ounces, representing an approximately
25% increase to the company’s 2019 year-end mineral reserve
estimates. The reserve addition also increases Kinross’ reserve
life index by approximately two and a half years.
Gold
Fields Limited American Depositary
Shares (NYSE: GFI) has
reported that its strongly recovering South Deep gold mine is
earmarked for
advanced technology. After reporting 7% higher overall group
year-on-year production of 557,000 oz gold for the three
months ending Sept. 30, Gold Fields CEO Nick
Holland stated of South Deep, which has one of the world's
largest gold deposits: "South Deep has had a tremendous recovery in
quarter three. We showed very good results." South Deep's
production was up to 65,000 oz with all-in costs at just over
$1,000/oz.
"South Deep's an operation now that's looking really competitive
in our group," Holland said. South Deep, which has a mineral
reserve of 38 million ounces, the equivalent to approximately
100,000 gold bullion bars, has a current mine life of 75 years.
As eager investors turn in record numbers to gold, silver and
other precious metals, mining companies around the world stand to
benefit.
For more information about GoldHaven, please visit
GoldHaven
Resources Corp. (CSE: GOH) (OTCQB: ATUMF).
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