Gold Value Benefits From Global Political Uncertainties

NEW YORK, May 30, 2017 /PRNewswire/ --

Geopolitical uncertainties helped gold price rise to its highest level in nearly four weeks on last Friday. Gold spot increased in value near 1 percent to $1,268.10 an ounce on Friday, while gold futures for August delivery jumped 0.94 percent to $1,271.70 per ounce. Investors were concerned about the Group of Seven summit scheduled over this past weekend and the upcoming U.K elections could further shake up global politics. Gold is considered as safe-haven assets during times of political and economic changes. The yellow metal rose 1.2 percent last week and has gained about 10.5 percent year-to-date. Kenadyr Mining Holdings Corp. (OTC: KNDYF), Sandstorm Gold Ltd (NYSE: SAND), New Gold Inc. (NYSE: NGD), Gold Resource Corporation (NYSE: GORO), Yamana Gold Inc. (NYSE: AUY) 

Colin Cieszynski, Chief Market Strategist at CMC Markets, told MarketWatch: "At the moment it's increasing political uncertainty that is driving the gains rather than Federal Reserve speculation…Between Thursday's contentious NATO summit (last week) and the potential for fireworks at this weekend's G-7 Summit, plus a tightening U.K. election race, capital has been moving back in to defensive havens like gold." 

Kenadyr Mining Holdings Corp. (OTC: KNDYF) announced late last week that drilling at the south zone of Kenadyr Mining (Holdings) Corp.'s 100-per-cent-owned Borubai licence in the Kyrgyz Republic has intersected widespread gold mineralization, including 40 metres at 6.17 grams per tonne gold. The south zone is directly adjacent to Zijin Mining Group Co. Ltd.'s Taldy Bulak Levoberejnyi mine deposit, currently in production. (TSX-V: KEN)

Initial drilling was designed to intersect an area which was previously drilled by the Soviets between 1970 and 1990, and which intersected significant gold mineralization. The current drill hole provides support for the validity of the historical Soviet results and indicates that widespread gold mineralization may exist on Kenadyr's licence directly adjacent to (within 100 metres of) the TBL mine.

The south zone is open in three directions and to depth, and there are strong indications that it connects to the TBL deposit. Core recovery is greater than 95 per cent, and all intervals have been assayed using fire assay methods at an internationally accredited laboratory (ALS Global). The hole has reached its target depth of 850 metres, and the remainder of the hole is being split by diamond saw and prepared for assay.

Kenadyr is in a strong position having a robust balance sheet, no debt nor significant payments owing, and a supportive institutional shareholder base. The management team has extensive in-country operational experience and merger and acquisition expertise.

Dr. Alexander Becker, Kenadyr's Chief Executive Officer, states: "Partial results from our initial 2017 drill hole at Borubai have exceeded our expectations. Based on the geometry of the adjacent TBL orebody, it is the corporation's interpretation that these intersections are close to true widths. Subject to obtaining additional drill results, the corporation believes that the mineralization encountered in our initial drill hole validates and supports the findings reported in historic drilling, and indicates that the mineralization being mined at the adjacent TBL mine may continue onto Kenadyr's Borubai license."

Sandstorm Gold Ltd (NYSE: SAND) is a gold streaming and royalty company. Sandstorm provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine. Earlier in April the company announced that Luna Gold Corp. and JDL Gold Corp. have combined their businesses to create Trek Mining Inc. As part of the business combination, a non-brokered private placement financing was completed for gross proceeds of C$83,419,172. Sandstorm holds a 3% to 5% sliding scale net smelter returns ('NSR') royalty on Aurizona and at gold prices less than or equal to $1,500 per ounce, the royalty is a 3% NSR. In addition to the sliding scale royalty on Aurizona, Sandstorm holds a 2% NSR royalty on the greenfields property optioned to AngloGold.

New Gold Inc. (NYSE: NGD) is engaged in the development and operation of mineral properties. New Gold owns 100% of the Rainy River and Blackwater projects located in Canada. On March 10th, the company revealed that it has closed its previously announced bought deal financing of 61,640,000 common shares, including the exercise in full by the underwriters of the over-allotment option, at a price of US$2.80 per share for aggregate gross proceeds to New Gold of approximately US$173 million. New Gold intends to use the net proceeds from the Offering to finance the completion of the construction of the Rainy River gold project in Ontario, Canada.

Gold Resource Corporation (NYSE: GORO) is a mining company focused on production and pursuing development of gold and silver projects. Earlier this year the company announced the continued expansion of its Switchback vein system with additional step-out drill intercepts at the Aguila Project's Arista Mine. These new results, which mark the Company's farthest step-out drill hole to date, intercepted multiple veins including 5.01 meters of 3.98 grams per tonne (g/t) gold, and extends the Switchback system's total strike length to over 575 meters, a 275 meter expansion on strike since January 1, 2017.

Yamana Gold Inc. (NYSE: AUY) is a gold producer with gold production, gold development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. On May 11^th the company announced to investors that it has, along with Brio Gold Inc., entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp., CIBC Capital Markets and National Bank Financial Ltd. pursuant to which the Underwriters have agreed to purchase 26,667,000 common shares of Brio Gold currently held by Yamana on a bought deal basis at an offering price of C$3.00 per Brio Gold common share. Peter Marrone, Chairman and Chief Executive Officer of Yamana, said, "We are pleased to announce this sale of Brio Gold shares which is consistent with the plan we have implemented to realize value from our Brio Gold holdings. The sale of over 26 million shares of Brio reduces our investment significantly and is expected to meaningfully increase liquidity for the shares…. Further, we believe that reducing our interest in Brio Gold and creating liquidity will lead to additional opportunities with our remaining holdings in Brio Gold."

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 dissemination, branding, marketing and advertising for third parties for corporate 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 media buys or 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 or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a third party non affiliate for Kenadyr Mining Holdings Corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or 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 editorial or 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 this editorial or 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 editorial and 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
Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com