Gold Mining Stocks’ Nov 4 Earnings Roster: FNV, KGC & RGLD Yahoo Finance
Month: November 2020
- 2016 election gold price shocker, can it happen again? Kitco NEWS
- Gold Price Forecast – Gold Markets Continue to Grind Higher FX Empire
- Gold gains as dollar dips in run-up to U.S. election verdict CNBC
- How Will Gold Prices React To The Elections OilPrice.com
- Gold Price Breaks Above ‘Psychological’ $1900 Ahead of Election 2020 Result | Gold News BullionVault
- View Full Coverage on Google News
Will gold price and stocks see big moves right after election result? Kitco NEWS
Price gains for gold, silver on safe-haven demand amid U.S. election jitters Kitco NEWS
What to expect from gold price and stocks after election result Kitco NEWS
Does the election effect gold, silver and platinum? Kitco NEWS
Source: Matt Badiali for Streetwise Reports 11/02/2020
Independent financial analyst Matt Badiali profiles two companies that he believes are poised to take off.
The biggest commodity story in the last two years must be the gold price.
It was just $1,200 per ounce in November 2018 and it broke $2,063 per ounce earlier this year. That’s a 72% move in a fundamental commodity. As you can imagine, that drove the big gold producers up even higher.
Over that same two-year period, the NYSE Gold Bugs Index (HUI) rose from 138 to 363. That’s a 163% gain:
As you can see in the chart above, the index sagged a bit since August 2020. That’s due in part to lower gold prices and to investors taking profits.
I still think we’ll get another shot at making money in the majors, when gold moves higher. But right now, I’m looking down the sector for the best opportunities.
That’s because some great companies missed the run up. There are a handful of small cap miners that offer a big reward for a little more risk. There are two that stand out. They were going through transitions in 2020, so they missed the big move in mining stocks.
The first is Heliostar Metals Ltd. (HSTR:TSX.V; RGCTF:OTC). This company is the product of a merger between Redstar Gold Corp and Heliodor Metals Ltd. Its CEO is rising star Charles Funk.
Charles and I share a love for high-grade gold projects. He thinks Heliostar has a good one in the Unga Project in Alaska. This is a brownfields project at the old Apollo Mine. It closed in 1922. There are multiple occurrences of bonanza grade gold and silver in several locations across the project.
As of October 22, the company has three drill rigs on site. We can expect news soon.
The company also has a portfolio of projects in Mexico, called Cumaro, Oso Negro and La Lola. These are early stage, epithermal targets with high-grade potential.
The reason I like Heliostar, aside from management and projects, is that it is cheap right now. The timing of the merger meant that they missed the bulk of the run up in gold and gold stocks.
At just C$40.5 million this company has enormous potential. There are companies with far less going for them that trade at three or four times that.
I feel the same way about U.S. Gold Corp. (USAU:NASDAQ). This company also just completed the acquisition of Northern Panther Resource Corporation in August 2020. The corporate wrangling came at exactly the wrong time. As all the other junior gold miners soared, they were locked in negotiations. They didn’t put out a press release from June 3 to August 12.
That low profile is our opportunity today.
The company owns the promising CK Gold project in Wyoming. It’s a copper/gold deposit at surface that new President George Bee believes will make a great, profitable gold mine.
U.S. Gold has three other prospective projects—Challis Gold in Idaho, Maggie Creek on the Carlin Trend in Nevada and Keystone on the Cortez Trend in Nevada.
Both Challis and CK Gold have resource estimates. The company put out an updated preliminary economic estimate in March 2020. It showed that at $1,600 per ounce gold price and $2.80 per pound copper price, CK Gold had a net present value (NPV) of $321 million.
That’s more than ten times U.S. Gold’s current market cap.
I’d much rather buy that kind of opportunity than speculate on stocks that have already tripled or quadrupled in value. Most of those stocks are ripe for profit taking…
But shares of Heliostar and U.S. Gold haven’t even started to move yet. These are some of the best risk-reward setups I’ve seen in junior mining.
–Matt Badiali
Matt Badiali is a geologist and independent financial analyst. He spent fifteen years researching and writing about great investments inside the natural resources sectors. He can be reached at www.mattbadiali.net.
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Streetwise Reports Disclosure:
1) Matt Badiali: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: U.S. Gold Corp. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: I am a consultant to U.S. Gold Corp. My company has a financial relationship with the following companies mentioned in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in the article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
( Companies Mentioned: HSTR:TSX.V; RGCTF:OTC,
USAU:NASDAQ,
)
Source: Maurice Jackson for Streetwise Reports 11/02/2020
In this conversation with Maurice Jackson of Proven and Probable, the CEO of Rover Metals describes “high-grade” assays from three holes, and believes more positive results from the company’s drill program will follow later in November.
Maurice Jackson: Joining us for a conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB).
Always a pleasure to have you back on our program to provide us with an update on the 2020 drill program on the historical high-grade Cabin Lake Gold Project. But before we begin, Mr. Culter, who is Rover Metals, and what is the opportunity the company presents to the market?
Judson Culter: Rover Metals is a precious metals exploration company. We’re focused on advancing our existing gold assets, which are located in northern Canada. And the opportunity to the market is we’re days away from releasing the remainder of our summer-fall drill program. I would say roughly 70% of the results are still to come, and that should be in the near term.
Maurice Jackson: Absolutely. And speaking of the Cabin Lake Gold Project, Rover Metals embarked on an exploration drill program this summer on nine holes. Was the objective to twin the historical high-grade intersects?
Judson Culter: It was, but not identical twinning in terms of just going right next to the hole. We were just twinning an area, the high-grade area of the Bugow iron formation at Cabin Lake. And that’s going down dip, and also coming at the drilling from different angles. And that includes leaving it in the mineralization until it’s the hanging wall on the footwall. So really, it’s not just textbook twinning. There is step-out exploration here.
Maurice Jackson: Good to hear. The company just released the first three assay results on the exploration drill program. What can you share with us, sir?
Judson Culter: The results were great. No one has been there in 30 years. Historically, they used a much smaller core size. So there was, of course, going to be deviation, and just most likely a lesser drill rig than 30 years ago.
So we learned about how to follow the high-grade on the first three holes. It was the second hole that we learned a lot about the deviation of the historical drilling. And we were able to correct the remainder of the drill program, namely holes three to nine, based on what we learned from hole two. And in doing so, we did stay and achieve our target holes.
I’ll talk about the grades from the first hole. We had a long-intersect, continuous gold grades of 22 meters, and the average grams per ton (g/t) on that was 8 g/t. But certainly, there were some spikes as high as 46 g/t on smaller intervals. And then hole three—which is again, after we’d learned about the deviation from hole two—a similar story, where we found another large intersection of the high grade that we were chasing. That was roughly 6.5 g/t over 15 meters on that hole three. And when we pulled the core—we’ve logged all the core for the entire program—we knew what to look for. It’s this iron formation that is highly sulfidized. So, I’m pretty confident to say that the best is yet to come on this drill program.
Maurice Jackson: The company just answered an unanswered question. Were these the results that Rover was anticipating?
Judson Culter: I think that the surprise has been the length of this economic grade of gold. I mean the historical drilling, the longest intersect was about 15 meters. So, we’re well above that now and learning a lot more about how to chase the folding of this iron formation, which is where the high grade is located.
Maurice Jackson: When should shareholders expect to receive the assay results on holes four through nine?
Judson Culter: I would expect within the next couple of weeks; mid-November. We did two batches of samples. So the second batch of samples, which is holes four to nine, is at the lab, and they’re prepping it. So I think we should be in pretty good shape here for mid-November.
Maurice Jackson: Sounds good. Switching gears, Mr. Culter, please provide us with an update on the capital structure for Rover Metals.
Judson Culter: Rover Metals has 77 million shares outstanding and roughly 15 million warrants, and those warrants have a strike price at $0.12.
Maurice Jackson: What is the burn rate right now?
Judson Culter: The burn rate is, I would say, outside of the exploration program that we just finished—let’s go with $50,000 a month outside of the exploration season.
Maurice Jackson: And how is the treasury looking right now?
Judson Culter: Treasury is great. Once we pay for this drill program, we should still have about $150,000 in the bank. And we’ll be looking for new financing sometime either the end of Q4/20 or early Q1/21.
Maurice Jackson: In closing, Judson, why is this the perfect time to become a shareholder of Rover Metals?
Judson Culter: Well, I think we’ve seen a little bit of come-off in gold, but the forecast for 2021 and 2022 is it’s going to continue to be a very strong and healthy gold price. And we’re just really in the right timing in terms of that gold cycle. We’re hoping to be able to get an Inferred resource here, after this drill program.
If one looks at the mining life cycle, we’re in that part of the mining life cycle that can add the most shareholder value, which is this discovery to the potential. . .over the next three years, grow to an economic mine deposit. That’s the cycle of investment that you’re seeing with Rover Metals. Now is the time to get in, really—before the resource continues to grow in size.
Maurice Jackson: Sir, what keeps you up at night that we don’t know about?
Judson Culter: My next interview with Proven and Probable, but that’s okay. After today, we’ve got probably a couple of more weeks.
Maurice Jackson: Last question, sir. What did I forget to ask?
Judson Culter: In terms of business development, we’re working on a few things right now in the background, and if that continues in the direction that it seems to be headed, might be able to have some news for the market here, as well in the coming weeks.
Maurice Jackson: Mr. Culter, if investors want to get more information about Rover Metals, please share the contact information.
Judson Culter: Just visit our website at www.rovermetals.com and visit the Contact Us page.
Maurice Jackson: Mr. Culter, thank you for joining us today, and wishing you and Rover Metals the absolute best, sir.
As a reminder, I’m a licensed broker for Miles Franklin Precious Metals Investments where we provide unlimited options to expand your precious metals portfolio, from physical delivery, offshore depositories, and precious metals IRAs. Call me directly at (855) 505-1900 or you may email maurice@milesfranklin.com.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Rover Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
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The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.
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( Companies Mentioned: ROVR:TSX.V; ROVMF:OTCQB,
)
Source: Streetwise Reports 11/02/2020
Shares of AngloGold Ashanti Ltd. traded 9% higher after the company reported that Q3/20 free cash flow increased 290% YoY to $339 million allowing it to double its dividend payout ratio to 20%.
Global gold mining company AngloGold Ashanti Ltd. (AU:NYSE; ANG:JSE; AGG:ASX; AGD:LSE) today announced that in the third quarter of 2020 ended September 30, 2020, it delivered a 290% increase in free cash flow. The firm stated that the improvement in cash flow has helped bring down its adjusted net debt to the lowest level in almost 10 years, which it advised supports the decision to double its dividend payout ratio.
AngloGold Ashanti reported that “it will pay shareholders 20% of its free cash flow before accounting for capital expenditure in growth projects, up from 10% previously.” The company additionally indicated that going forward it will now pay dividends on semi-annual basis rather than annually.
AngloGold Ashanti’s Interim CEO Christine Ramon commented, “We will continue to enforce capital and cost discipline to deliver strong cash flows in this elevated gold price environment…Doubling our dividend payout ratio demonstrates confidence in our ability to both improve direct returns to shareholders and to self-fund our growth projects and sustaining capital requirements.”
The company stated that in Q3/20, free cash flow increased by 290% to $339 million, compared to $87 million in Q3/19. The firm said this was attributable to lower capital expenditure and operating costs and a 30% higher gold price received. AngloGold Ashanti noted that $200 million of the $329 million was derived proceeds from the sale of its South African operating assets to Harmony Gold on September 30, 2020.
The company added that in Q3/20, cash inflow from operations increased by 56% to $551 million, compared to $354 million in Q3/19.
AngloGold Ashanti reported that adjusted net debt was cut by nearly 50% to $875 million as of September 2020. The firm stated that in Q3/20 adjusted EBITDA increased by 72% to $803 million, compared to $468 million in Q3/19.
The company listed that in the three months ended September 30, 2020, it produced 837,000 ounces of gold at a total cash cost of $801 per ounce, versus 825 Koz Au at a total cash cost of $786 per ounce in the prior year’s corresponding quarter. The firm added that in Q3/20, all-in sustaining costs (AISC) were $1,044/oz Au, compared to $1,031/oz Au in Q3/19.
The firm advised that it reinstated its annual guidance on September 21, 2020. AngloGold Ashanti stated that for FY/20, the company expects gold production of between 3.03 and 3.10 million ounces, which includes nine months of production from the recently sold South African operations. Excluding the South Africa assets, it estimates full-year production will range from 2.80-2.86 Moz Au on a continuing operations basis.
FY/20 AISC is expected to come in at $1,060-1,120/oz, including contributions from the South African assets to the end of September 2020, and $1,050-1,100/oz Au on a continuing operations basis.
AngloGold Ashanti Ltd. is headquartered in Johannesburg, South Africa, and according to the firm’s website it is the third largest global gold producer and largest such firm in Africa, employing more than 34,000 people worldwide. The company indicated that its 2019 gold production exceeded 3.3 million ounces. The firm operates projects in nine countries including the Democratic Republic of the Congo, Ghana, Guinea, Mali and Tanzania in Africa, Australia, Argentina, Brazil and Colombia. The company is primarily a gold miner but also produces silver and sulfuric acid as by-products at some of its sites.
AngloGold Ashanti has a market capitalization of around $9.6 billion with approximately 416.6 million shares outstanding. AU shares opened 7.5% higher today at $24.88 (+$1.74, +7.52%) over Friday’s $23.14 closing price. The stock has traded today between $24.46 and $25.36 per share and closed at $25.28 (+$2.14, +9.25%).
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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
( Companies Mentioned: AU:NYSE; ANG:JSE; AGG:ASX; AGD:LSE,
)
Categories
A Golden Election Promise
Source: Peter Krauth for Streetwise Reports 11/02/2020
Peter Krauth explains why he believes gold will be the biggest winner in the election.
There’s no shortage of prognostications or conjecture about the U.S. election.
Of course, everyone has an opinion.
Some like red, some like blue, some like neither.
Last week’s volatility in stocks, bonds, currencies and commodities is a clear signal that markets are uneasy. They hate uncertainty.
If the election’s outcome is less than clear, then volatility will be around for a while, and probably even intensify.
A lot of the forecasting is about what will happen to gold. One thing I know for sure is, no matter who takes election victory, gold will come out of it the biggest winner.
In the meantime, we’re likely to hear a lot of noise.
I suggest you ignore most of it, and focus on the prize: soaring gold prices.
Near-Term Gold Pressure
Gold is already up 25% year-to-date. But that doesn’t mean there’s no gas left in its tank.
Here are the main drivers influencing the gold price.
I see two temporary headwinds for gold. The first is central banks.
Bloomberg reported recently that “central banks became gold sellers for the first time since 2010, as some producing nations exploited near-record prices to soften the blow from the coronavirus pandemic.”
The World Gold Council (WGC) said Q3 saw central banks (CBs) become net sellers of 12.1 tons versus last year’s net buying of 141.9 tons. Russia was a standout, with its first net sales in 13 years as oil prices remain low. With gold prices high, some CBs are selling to raise cash.
Bloomberg also said year-over-year gold supply is down 3%. Meanwhile, CB purchases are forecast to bounce back next year.
A second headwind for gold could be volatility. It’s possible we might see a strong market selloff if investors panic from an uncertain election outcome. I would expect that to be nothing more than temporary weakness.
Still, I see overall strong market winds at gold’s back.
Support for Higher Gold
Legendary investor Stanley Druckenmiller told viewers of the Robin Hood Investors Conference, “We have borrowed so much that I’m skeptical that three to five years out that equities will give us any kind of return.” He does however see inflation above 4% and gold prices higher.
Meanwhile, the WGC says gold ETFs reached a record high 3,880 tonnes in Q3, acquiring another 272.5 tonnes.
What’s more, physical gold buying has just reached an all-time high.
The WGC highlights gold bar and coin buying jumped an astounding 49% year-over-year, reaching 222.1 tonnes through the end of Q3. Don’t forget, this is with near-record sustained high gold prices…globally.
Much of this is being propelled by low rates and government spending.
Trump has proposed a $1 trillion infrastructure plan, while presidential candidate Biden is proposing a $2 trillion green energy and infrastructure plan should he win.
That doesn’t even account for Covid-19 stimulus spending: a global phenomenon.
In June, McKinsey & Company stated, “Governments’ economic responses to the crisis is unprecedented, too: $10 trillion announced just in the first two months, which is three times more than the response to the 2008–09 financial crisis.
It’s not a stretch to conclude that spending, deficits and debt are heading in one direction: higher.
Which is why it’s easy to see why gold is set to follow.
Here’s a look at the monthly percentage growth of the Fed’s balance sheet versus the gold price (gold in orange, Fed balance sheet in blue).
While this chart is pretty much self-explanatory, I will say that gold has a lot of catching up to do.
I’m cautiously optimistic in the near term. But if markets sell off hard, investors will look to raise cash. Be ready for gold and gold stocks to follow, at least initially, as investors sell to meet margin calls. I’d expect a quick recovery though, as wise money steps in on the opportunity to buy the dip.
My bottom line is this:
A whole lot of promises have been made by both sides in this election. In order to get our votes, politicians try to bribe us with our own money.
In the end, you need to ask yourself who really has your greatest interest at heart?
I’m most willing to bet on the promise of gold.
And I think we’ll see a new record high before the year is out.
–Peter Krauth
Peter Krauth is a former portfolio adviser and a 20-year veteran of the resource market, with special expertise in energy, metals and mining stocks. He has been editor of a widely circulated resource newsletter, and contributed numerous articles to Kitco.com, BNN Bloomberg and the Financial Post. Krauth holds a Master of Business Administration from McGill University and is headquartered in resource-rich Canada.
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Disclosure:
1) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
