Kitco News
(Kitco News) – Orla is developing the Camino Rojo Oxide Gold Project, an advanced gold and silver open-pit and heap leach project, located in Zacatecas State, Central Mexico.
The post Orla Mining announces C$75 million bought-deal financing appeared first on WorldSilverNews.
Kitco News
(Kitco News) – The dislocation businesses and communities are facing staggering. But when COVID-19 restrictions are lifted, Mazumdar said margins for the seniors could see them do quite well.
The post The big difference between now and 2008 appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Another bullish gold price update comes from TD Securities, which is now projecting a move to $1,800 an ounce and then a jump to $2,000 near year-end.
The post Gold price at $2,000 is a ‘distinct possibility’ into 2021 — TD Securities appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Major Drilling said it has resources to weather the crisis, but it just drew down a $20 million dollars from its credit facility to ensure access to cash if there is a prolonged slowdown.
The post Lockdowns take a toll on junior exploration companies appeared first on WorldSilverNews.
Kitco News
(Kitco News) – “Considering the impact of these measures, including difficulties of securing access to the operations for employees and the effects of logistic stagnation, we have decided to suspend operations temporarily to ensure the safety of employees and their families.”
The post Sumitomo Corporation suspends mining operations appeared first on WorldSilverNews.
SilverSeek.com
Singapore Bullion Market Association/Emil Kalinowski/March 2020
“Gold hasn’t been a cross-cultural monetary standard for millennia just because it is pretty to look at. It has a job – one that it is exceedingly qualified for – and that is to be accepted as money when other financial instruments that were thought to be money are revealed to be credit. That is when gold is sold. Sacrificed.… If this general economic deterioration crosses over into an outright, interbanking liquidity panic, it should not surprise anyone that gold will be sold.”
USAGOLD note: The gold sold, as we are finding out, is paper gold, and there is a fundamental difference between gold represented on paper and gold as represented by itself. One is eminently more preferrable than the other and as we get deeper into the present crisis it is not difficult to know which is which. As Alan Greenspan famously put it: “Gold does not require any form of endorsement.”
Voima/Jan Nieuwenhuijs interview of Finland economist Tuomas Malinen/3-25-2020
“JN: How can people best prepare for the coming financial turmoil?
TM: Hold physical cash and physical gold. All through history, gold has been the best crisis hedge.
JN: What do you see the gold price doing going forward?
TM: We did an analysis of the historical prices of different asset classes, and it seems that gold first—when the crisis starts—goes down like the rest of the assets, but then it starts to rise very fast.”
USAGOLD note: Malinen paints a very bleak picture for the European economy saying that he at first viewed the coronavirus as trigger and now he sees it as a driving force of its own. In one captivating section, he talks about the possibility of central banks failing – a subject few economists have addressed, although we do recall, James Grant recently raising the prospect.
