Gold prices could see higher highs. All thanks to a series of “just right” conditions, according to analysts, as note by Business Insider. For example, Warren Patterson, head of commodities strategy at ING, said, “We expect gold prices to trade higher this year as safe-haven demand continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election.” In addition, Bill Baruch, president of commodities brokerage firm Blue Line Futures, said gold’s move was “the canary in the mine,” signifying the start of a “multi-year bull market in metals.” All of which is a solid catalyst for gold stocks, such as Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Harmony Gold Mining (NYSE: HMY), Royal Gold (NASDAQ: RGLD), Franco-Nevada (NYSE: FNV), and B2Gold Corp. (NYSE: BTG) (TSX: BTO).
Helping, China’s central bank just added even more gold, supporting the precious metal’s surge to record higher. In fact, in February, China added another 390,000 troy ounces of gold, raising its total holdings to 72.58 million troy ounces. “Central banks bought 1,037 tonnes of gold last year, just shy of the all-time high of 2022, as shown by data from the World Gold Council, as reserve diversification and geopolitical concerns pushed central banks to increase their allocation towards safe assets,” added ING.com.
Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF).
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am very pleased to welcome Jason Cyr as the Vice President of Canadian Operations, and André Morneau as Process Plant Manager. We continue to strengthen the team as we focus on operational readiness in preparation for first gold in H1 2025 at the Valentine Gold Mine. Having worked extensively in North America, Jason brings a wealth of leadership and operational expertise to the business. André’s extensive processing leadership roles will be invaluable in optimizing our plant operations. I look forward to the contributions of both Jason and André in their new roles.”
“I am also very pleased to be included in the GDX Index which reflects our successful growth and provides Calibre investors improved liquidity, trading flexibility and a higher profile.”
Jason Cyr – Vice President, Canadian Operations
Jason Cyr has over 20 years of experience in operations and project development within the mining industry demonstrating a commitment to project completion and optimizing mining operations for maximum productivity with cost-effectiveness, all while ensuring the at the highest standard of safety.
Prior to joining Calibre, Mr. Cyr served as the General Manager of Barrick Gold’s Hemlo Operation and held significant leadership roles at SSR Mining Company’s Seabee Gold Operation, Rio Grande Mining Company in Texas, USA, and Liberty Mines Inc. in Timmins, ON, Canada. His achievements include overseeing the construction and operation of processing plants and mines through collaboration with various stakeholders. Mr. Cyr holds a Diploma in Mining Engineering Tech from Haileybury School of Mines in Ontario.
André Morneau – Process Plant Manager
André Morneau is an experienced professional Chemical Engineer with over 25 years in the mining industry. Throughout his career, he has excelled in managing production, metallurgy, maintenance, and overall operations in iron, gold, lead, and copper mines and smelters. André is known for his success in operations and budget management, project execution, and a strong focus on health, safety, and environmental compliance. He has led teams, implemented change management initiatives, and achieved notable increases in production efficiency and gold recovery.
Before joining Calibre, Mr. Morneau served as the Manager of Concentrator and Surface Services at Nemaska Lithium and held senior leadership roles with extensive experience in gold mining, particularly in carbon-in-leach operations within Canada and West Africa. He holds a Bachelor of Chemical Engineering from the University of Sherbrooke, Quebec.
Other related developments from around the markets include:
Harmony Gold Mining’s CEO Peter Steenkamp recently noted, “Harmony delivered an exceptional set of results in H1FY24. We have again demonstrated that Harmony is an excellent operator and a global gold mining leader, with a copper footprint. Through resilience, dedication and focus, we are improving our safety performance, driving operational excellence, increasing the quality of our ounces and delivering as promised. We have built a solid foundation that will enable Harmony to continue on this upwards trajectory. While strong commodity prices have provided Harmony with good tailwinds, improved safety, good mining discipline and operational flexibility with a stable and a predictable cost structure, remain fundamental to creating the long-term value expected by our stakeholders. We will continue to use our skills and strong understanding of our orebodies to extract further value – wherever we operate. We mine with purpose – transforming our gold into long-term value for all our stakeholders.”
Royal Gold just announced that its Board of Directors has declared its second quarter dividend of $0.40 per share of common stock. The dividend is payable on Friday, April 19, 2024, to shareholders of record at the close of business on Friday, April 5, 2024.
Franco-Nevada Corporation announced that its Annual Information Form, Consolidated Annual Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2023 have been filed with Canadian securities regulatory authorities. Franco-Nevada has also filed its Form 40-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. Franco-Nevada's management team will host a Virtual Investor Day webcast, April 10, 2024 from 3:00 pm ET to 5:00 pm ET to review its assets and to announce the release of the 2024 Asset Handbook and 2024 Environment, Social and Governance Report.
B2Gold Corp. announced its operational and financial results for the fourth quarter and full year 2023. The Company previously released its gold production and gold revenue results for the fourth quarter and full year 2023. Total gold production of 288,665 ounces in Q4 2023: Total gold production in the fourth quarter of 2023 was 288,665 ounces, including 18,054 ounces of attributable production from Calibre Mining Corp. The Fekola, Masbate and Otjikoto mines all exceeded their expected production in the fourth quarter, with Otjikoto achieving record quarterly production of 81,111 ounces. Total consolidated cash operating costs of $633 per gold ounce produced in Q4 2023: Total consolidated cash operating costs (see “Non-IFRS Measures”) (including estimated attributable results for Calibre) of $633 per gold ounce produced and consolidated cash operating costs from the Company’s three operating mines of $611 per gold ounce produced. On February 21, 2024, B2Gold's Board of Directors declared a cash dividend for the first quarter of 2024 (the “Q1 2024 Dividend”) of $0.04 per common share (or an expected $0.16 per share on an annualized basis), payable on March 20, 2024, to shareholders of record as of March 7, 2024.
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