NetworkNewsWire
Editorial Coverage: Amid a global pandemic and economic
uncertainty, investors are increasingly turning to gold. A recent
MagnifyMoney survey reported that about one in six people have
invested in gold or another metal in the past three months, with
another 23% saying they’re seriously considering it. Companies
operating in the precious metals sector are in an ideal position to
benefit from this investment tide as they evaluate their offerings,
increase their holdings and work to support the growing number of
investors on the lookout for more stable options. For example,
GoldHaven Resources Corp. (CSE:
GOH) (OTCQB: ATUMF)
(GOH
Profile) has completed 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; the company is anticipating starting drilling program early
next year. Newmont
Corporation (NYSE: NEM) recently announced that it has
formed an exploration joint venture in Colombia with Agnico Eagle
Mines Limited. Barrick
Gold (NYSE: GOLD) (TSX: ABX) is reporting that its
Kibali min is on track to deliver at the upper end of its 2020
guidance. Mirasol
Resources Ltd. (OTC: MRZLF) has released positive
initial exploration results from its wholly owned Nandi Cu project
located in Northern Chile. New
Found Gold Corporation (OTC: NFGFF) also released
initial results from hole NFGC-20-26 at the Keats Zone, drilled as
part of the company’s ongoing 100,000m diamond drill program at its
100% owned Queensway High-Grade Gold Project in Newfoundland.
- Economic uncertainty has shaken investors’ faith; many looking
to alternative investment opportunities.
- GoldHaven has inked agreements to acquire promising gold
projects in Maricunga Gold Belt of Northern Chile.
- GoldHaven moving forward in strong financial position.
Click here to view
the custom infographic of the GoldHaven Resources Corp.
(CSE: GOH) (OTCQB:
ATUMF) editorial.
Alternative Investment Opportunities
“Thanks to the coronavirus pandemic, the stock market has been a
rollercoaster over the past few months,” stated an article
reporting the MagnifyMoney survey results. “It has plunged sharply
on more than one occasion, only now to have returned almost to
pre-pandemic levels. Reasonably, this instability — and general
economic uncertainty — has shaken investors’ faith in the stock
market. As a result, many are looking to alternative investment
opportunities.”
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.
That desire for alternative opportunities has led to record
prices for both gold and silver. Gold reached topped out over
$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.
Key Locations, Promising Projects
The recent upward swing in gold investing seems to confirm that
thinking. And certainly the trend is 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 increases, so has GOH trading, with more than 9
million shares traded since inception, and the company is intent on
making its position even stronger.
Just within the past few months, GoldHaven has inked
agreements to acquire promising gold projects in the productive
Maricunga Gold Belt of Northern Chile, an area that touts
discoveries within the last decade of more than 100 million ounces
of gold and in excess of 450 million ounces of silver. GOH’s
impressive presence in the northern portion of the Maricunga Belt
equal about 100 square miles, making the company one of the largest
gold exploration players in the Maricunga.
Several of GOH’s projects are advantageously located within
miles of some of the area’s most exciting 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. Recent studies and analysis on GoldHaven’s targeted properties
indicate these strategic properties may produce similar
numbers.
Currently GoldHaven has classified four of its
properties as high priority: the Roma, Alicia, Coya and Rio Loa
projects. The Alicia and Rio Loa projects are situated within 20
miles of Salares Norte; Coya is only about 10 miles northeast of La
Coipa. These high-priority targets were identified after conducting
modern-day field assessments including mapping, geochemical
sampling and satellite imagery and carefully evaluating their
locations relative to existing deposits and discoveries. Three of
GOH’s projects are drill ready, and the company plans on phasing in
a drilling program by January 2021.
Exploration, Drilling in the Works
GoldHaven will be moving forward with its drilling phase from a
strong financial position. The recent
completion of two tranches of an oversubscribed, non-brokered
private placement resulted in gross proceeds for the company 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.
GOH anticipated using the net proceeds from the offering to
initiate exploration and drilling programs on its Maricunga Gold
Belt projects along with general working capital.
Renowned Leadership
“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 prominent exploration
geologist, Burns has impressive expertise experience in the
precious metals mining space. He was directly involved in the
discovery of the world’s largest copper mine, the Escondida
porphyry copper deposit in Chile. He also played a key role in the
discovery of 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.
In addition to Burns, the company has several other
well-established executives, including Dan Schieber, GoldHaven
director and CEO. Schieber established his career in metals and
mining finance as an analyst for the Stabilitas Group of Funds. He
also co-founded Euroscandic International Group, raising an
estimated $350 million in project financing for development
projects in the mining sector. Following that success, he became
involved in Canadian-based farmland investments, serving as chief
investment officer at Dynamis Capital Corp., whose business is
long-term, recession-proof investments with an emphasis on
gold and silver.
GoldHaven is the third public company that president and
director David Smith has successfully co-founded. Smith’s previous
two companies, both with an environmental focus, traded on the TSX
and ultimately sold yielding significant profits to
shareholders.
GoldHaven director Gordon Ellis has chalked up more than five
decades of experience in the mining industry as a professional
engineer; 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 played a key role in mining
exploration, geotechnical engineering and mine design projects
around the world.
Making Strategic Moves
Of course, with gold, silver and other precious metals capturing
the attention of savvy investors, other companies besides GoldHaven
Resources are looking to capitalize as well. These companies are
making strategic moves designed to strengthen their position in a
market that is heating up.
Newmont
Corporation’s (NYSE: NEM) exploration
joint venture with Agnico Eagle Mines Limited will explore the
Anzá project and advance other prospective gold targets of
district-scale potential in Colombia. The 50-50 joint venture will
be operated by Agnico Eagle. The Anzá project is a gold exploration
project comprised of exploration contracts and applications
totaling approximately 200 km and located in the Mid-Cauca
belt in Colombia. “We are excited to partner with Agnico Eagle to
further advance exploration opportunities in this highly
prospective region in Colombia,” said Newmont Gold president and
CEO Tom Palmer. “Our companies share similar views of safe and
responsible mining practices with proven expertise in Greenfields
exploration areas.”
The positive news
about its Kibali mine is good news for Barrick
Gold (NYSE: GOLD) (TSX: ABX) . One of
Barrick’s elite corps of tier one mines, Kibali was the first
underground gold mine in the DRC and one of the largest in the
world. It is a global leader in automation and continues to improve
efficiency and productivity through ongoing technological
innovation. In the third quarter, the mine set a new ore
delivery record from underground, exceeding nameplate for the first
time since the shaft was commissioned in 2018. A tier one mine is
capable of producing at least 500,000 ounces of gold annually for
at least 10 years at the lower end of the industry’s cost
profile.
Mirasol
Resources Ltd. (OTC: MRZLF) has released initial
exploration results from its Nandi Cu project. The project
comprises approximately 5,000 ha of exploration claims and is
located about 18 miles northwest of BHP’s world-class Escondida Cu
mine and almost 40 miles southeast of Glencore’s highly productive
Lomas Bayas Cu mine. “Nandi represents an attractive project with
multiple targets to be drill tested,” said Mirasol chair and
interim CEO Patrick Evans. “Results from Mirasol’s initial
exploration work indicates that Nandi has the potential to host a
concealed Cu/Mo/Au porphyry deposit, and skarn type
mineralization.”
New
Found Gold Corporation (OTC: NFGFF) also announced
positive initial drilling results. The company noted that hole
NFGC-20-26 at the Keats Zone was drilled as part of the company’s
ongoing 100,000m diamond drill program at Queensway High-Grade Gold
Project. “Historic work and more recent drilling at Keats have
demonstrated gold mineralization over at least 300m of strike and
the Keats target remains open in each direction along strike and to
depth,” said New Found president Denis Laviolette. “We are
continuing to drill on grid lines at 50m spacing to the north and
south of NFGC-19-01 and anticipate further results from this
drilling in the next several weeks.”
These companies, and others in the precious metals arena, are
looking to make significant strides forward during a time of
uncertainty, strengthening their position in a space that holds
real promise.
For more information about GoldHaven, please visit
GoldHaven
Resources Corp. (CSE: GOH) (OTCQB: ATUMF).
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