NEW YORK, March 14, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
Gold prices pared its early gains on Monday as investors are anticipating the FOMC meeting and the Netherlands elections on this Wednesday. The yellow metal was under pressure as recent comments from the Fed officials and a solid jobs report data last Friday boosted the odds of a rate hike at the upcoming meeting this week. Gold prices are correlated and highly sensitive to interest rate change, as higher rates will increase opportunity cost of holding non-yielding gold. Yet, despite the confidence projected by the FOMC, uncertainties surrounding the elections in the Netherlands and France will have gold investors eyeing the key level support of $1,200 an ounce. Vanstar Mining Resources Inc. (TSX-V: VSR), IAMGOLD Corp. (NYSE: IAG) (TSE: IMG.TO), Nevsun Resources (NYSE: NSU) (TSX-V: NSU), Golden Star Resources Ltd. (NYSE: GSS) (TSE: GSC.TO)
Investors will turn their attention to Wednesday's Dutch parliamentary elections. Recent polls suggested that the risk of a Eurosceptic party to come into power is small, but investors still remain cautious over the possibility of a surprising result. Meanwhile, the expectations for a rate hike this week are high. Investors are looking for clues on the pace of rate hikes in the future, which remains unclear. "A Fed hike on Wednesday is fully discounted by the market...the only thing that might prompt a surge in the dollar and rates is if the FOMC members lift the number of rate hikes they expect this year," ICBC Standard Bank said in a note, CNBC reported.
Earlier today Vanstar Mining Resources Inc. (TSX-V: VSR) announced that, "According to the final drilling results obtained by Vanstar Mining Resources Inc. from the 2016 autumn drill program, the management is able to confirm the occurrence of an extensive hydrothermal gold system in the northern sector of the Nelligan project, located in the Chapais-Chibougamau area of the province of Quebec.
Final assay results from the November 2016 diamond drilling program completed by project manager IAMGOLD Corporation ("IAMGOLD") in the North Sector and totaling 2,225 metres from 5 diamond drill holes are now received.
The drilling done during the 2016 winter and autumn drill programs shows that gold is found in an extensive gold anomalous, silicified, alteration zone of several hundred meters width. The presence of pyrite is constant in the alteration zone and varies from 1% to more than 15% locally. The north sector appears to be associated with a low magnetic anomaly of more than 4 kilometres in length, as well as locally with induced polarization (IP) geophysical anomalies.
"Assay results from last autumn's drilling program have returned very encouraging results from the extension to the west of this gold-bearing alteration system. These results continue to extend the mineralization and further drilling is required to assess the economic potential of this new discovery. The constant presence of gold in three closely related environments such as Liam, Dan and the Northern Sector clearly demonstrates the gold potential that the Nelligan Project can contain. The current campaign is going very well. Main targets on the east side are met and we expect to publish results as soon as possible," commented M. Guy Morissette, CEO of Vanstar Mining Resources Inc.
IAMGOLD Corp. (NYSE: IAG) (TSE: IMG.TO) is a mid-tier mining company with four operating gold mines on three continents. A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities. The Company's gold mine segment is divided into geographic segments, such as Burkina Faso - Essakane mine; Suriname-Rosebel mine; Canada-Doyon division, which includes the Westwood mine and the Doyon mine, and Joint ventures (Mali)-Sadiola mine (41%) and Yatela mine (40%).
Nevsun Resources (NYSE: NSU) (TSX-V: NSU) is the 100 percent owner of the high-grade copper-gold Timok Upper Zone in Serbia and 60 percent owner of the high-grade copper-zinc Bisha Mine in Eritrea. The Timok Project is located in eastern Serbia near the Bor mining and smelting complex. The Timok Project is focused on the Cukaru Peki deposit which includes the high grade Upper Zone and the Lower Zone. The Upper Zone has an extremely high copper and gold content consisting of 1.7 million tonnes of indicated resource grading 13.5% copper and 10.4 g/t gold and 35.0 million tonnes of inferred resource grading 2.9% copper and 1.7 g/t gold.
Golden Star Resources Ltd. (NYSE: GSS) (TSE: GSC.TO) is an established gold mining company with two producing mines on the prolific Ashanti Gold Belt in Ghana. Both of the Company's mines, Wassa and Prestea, are expanding to develop underground mines below existing open pit operations. This will enable Golden Star to transform into a high grade, low cost gold producer with strong exploration upside potential. The Wassa Underground Gold Mine commenced commercial production in January 2017 and the Prestea Underground Gold Mine is expected to achieve commercial production in mid-2017. Gold production in 2017 is expected to be 255,000-280,000 ounces with cash operating costs of $780-860 per ounce.
Gold Standard Ventures Corp. (NYSE: GSV) (TSX-V: GSV) is an advanced stage gold exploration company focused on district scale discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. The Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidates the Company's premier land package on the Carlin Trend. The Pinion deposit now has an NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 31.61 million tonnes grading 0.62 grams per tonne (g/t) gold (Au), totaling 630,300 ounces of gold and an Inferred Resource of 61.08 million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au.
Please Sign Up Now at http://www.FinancialBuzz.com to Receive Alerts on Trending Financial News from all these companies. 'The Latest Buzz in Financial News'
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions as we purely incorporate public market research along with financial and corporate news. FinancialBuzz.com only regurgitates financial or corporate news through our unique financial newswire and media platform. FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a third party non affiliate for Vanstar Mining Resources Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com
For further information:
Media Contact:
[email protected]
+1-877-601-1879
SOURCE FinancialBuzz.com
Share this article