Gold's Importance is Reiterated in the Latest Global Crisis

FinancialBuzz.com News Commentary

News provided by

Jul 16, 2020, 09:00 ET

NEW YORK, July 16, 2020 /PRNewswire/ -- Gold prices traded near steady in midday U.S. trading on Wednesday, as the gold prices once again increased after an early drop. August gold futures were last up USD 0.80 an ounce at USD 1,814.20. According to a report by Kitco News, "technically, the gold bulls have the strong overall near-term technical advantage. Bulls' next upside price objective is to produce a close in August futures above solid resistance at USD 1,850.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at last week's low of USD 1,779.20." Of course, the current economic uncertainties are contributing to this this environment, as gold is often considered as a safe-haven asset. Overall, the current economic instabilities around the world create the right environment for demand to grow. Clarity Gold Corp. (CSE: CLAR), McEwen Mining Inc. (NYSE: MUX), Fortuna Silver Mines Inc. (NYSE: FSM), Kinross Gold Corporation (NYSE: KGC), Yamana Gold Inc. (NYSE: AUY)

The value of gold is difficult to predict, as it depends on many economic variables as well as on decisions made by the federal reserve. Nevertheless, gold prices are often viewed as safe haven in a time of economic and political uncertainties. Kitco News indicated earlier this May that the investment research firm CFRA was bullish on gold, saying the macroeconomic backdrop may be the strongest ever amid the global pandemic. "In our view, gold is the best hedge against economic uncertainty in general and, more specifically, against fiscal deficit, negative-yielding bonds, fiat currency debasement and potential inflation," the report said. "Although equity markets are attempting a strong bounce-back from the steep declines in the first quarter, there is a disconnect between the current recovery and the economic reality and the recent strength in equities could be underestimating the risk of a subsequent outbreak."

Clarity Gold Corp. (CSE: CLAR) announced yesterday that, "it has finalized plans and is mobilizing a field crew to its recently acquired properties located on Vancouver Island, British Columbia, the Tyber and the Gretna Green Projects.

The field crew will consist of a three-person team who will be conducting initial ground reconnaissance and sampling. The objective of the program will be to review the geology and mineralization, locate and verify historic mineral showings, and assess the properties for geochemical sampling. The company will also be conducting a grab sample program on targeted zones to locate additional areas of interest. The goal of the site visit is to design an effective exploration strategy for the Tyber and Gretna Green Projects.

'We are very pleased to be getting started on our 2020 exploration program on Vancouver Island,' said CEO James Rogers. 'The Tyber and Gretna Green projects have not seen modern exploration and we are looking forward to designing and carrying out field programs to follow up on encouraging historic results.'

Tyber Project

The 928 ha Tyber gold-copper-silver project (the "Tyber Project") is located in southeast Vancouver Island in the Nanaimo mining division, approximately 1.4 km south of Arrowsmith Lake and 18 km Southwest of Parksville. Historic rock samples taken from the property between 1916 and 1986 assayed up to 2.328 oz/t Au (from historic adit dump), 16% Cu and 305.5 oz/t Ag (1916 BC Mines Annual Report; Minfile 092F236). The Tyber Project consists of several mineralized shear zones ranging from less than 0.30 m to 2.60 m. Two historical adits on the Tyber Project, believed to be targeting mineralized quartz veins within local shear zones, extend approximately 14 m and 47 m in length (1981 Assessment Report 09432).

The Clarity Gold Corp. Qualified Person has not verified the results of the historic exploration and sampling at the Tyber Project, additional sampling would be required to verify the data.

Gretna Green Project

The Gretna Green gold-copper-silver project (the "Gretna Green Project") is 1,331 ha and is located in the Alberni mining division, approximately 24 km Southwest of Port Alberni and 1.3 km North of Henderson Lake. Historical reports show that a selected sample assayed 48.00 grams per tonne gold, 51.43 grams per tonne silver and 17.8 percent copper (Minister of Mines Annual Report 1921; Minfile 092F24). Limited information on the Gretna Green Project is available, however the QP (as defined below) believes the project warrants further exploration.

The Clarity Gold Corp. Qualified Person has not verified the results of the historic exploration and sampling at the Gretna Green Project, additional sampling would be required to verify the data.

Qualified Person

Mr. Rory Kutluoglu P. Geo. is the Qualified Person ("QP") under NI 43-101 for the technical information in this news release and has reviewed the appropriate and available data for the Empirical Project, Tyber Project and Gretna Green Project and approves the technical contents of this news release. The QP intends to visit the additional Empirical Project claims, Tyber Project and Gretna Green Project shortly and thus cannot validate the historical databases nor the results of the historical work presented herein."

For our latest "Buzz on the Street" Show featuring Clarity Gold Corp. recent corporate news, please head over to: https://www.youtube.com/watch?v=2UdeIyP796o

McEwen Mining Inc. (NYSE: MUX) reported back in June an update on our Gold Bar and Black Fox operations and mine exploration drilling. Mining at Black Fox was suspended from March 26th to April 14th to allow time for management to evaluate and adapt to operating with the risks associated with the COVID-19 pandemic. Since April 14th the mine has been operating following corporate and provincial COVID-19 guidelines. We are pleased to relay that the local health unit indicates that no new cases of COVID-19 have been reported in the Timmins region since May 10th. The temporary suspension and subsequent staged ramp-up back into production impacted our mining plan for 2020 and we are in the process of adjusting production forecasts. Guidance for the second half of 2020 will be provided with our Q2 results. Development mining remains on target and focused on increasing access to additional mining areas.

Fortuna Silver Mines Inc. (NYSE: FSM) reported yesterday production results for the second quarter of 2020 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 1.3 million ounces of silver and 7,099 ounces of gold, plus base metal by-products. Silver and gold production for the first six months totaled 3.1 million ounces and 17,200 ounces, respectively. At the beginning of the second quarter of 2020, the Company withdrew its production and cost guidance for 2020 until further notice, due to the uncertainties related to the impact caused by COVID-19 constraints on the Company's business and operations (refer to Fortuna news release dated April 2, 2020).

Kinross Gold Corporation (NYSE: KGC) announced yesterday the results of a pre-feasibility study ("PFS") for its Lobo-Marte project in Chile. Lobo-Marte offers the potential of a cornerstone asset with attractive all-in sustaining costs to enhance Kinross' long-term production profile. The project adds a significant 6.4 million gold ounces, representing an approximately 25% increase, to the Company's 2019 year-end mineral reserve estimates in a favourable mining jurisdiction. The reserve addition also increases Kinross' reserve life index by approximately 2.5 years. "The Lobo-Marte project provides Kinross with an excellent, organic development option that has attractive all-in sustaining costs and offers substantial upside leverage to the gold price, without increasing project cost requirements and risk," said J. Paul Rollinson, Kinross President and CEO. "The project represents a potential synergistic, long-term mine life extension in a favourable mining jurisdiction and delivers a significant 6.4 million ounce addition to our current gold reserve estimates, increasing the Company's overall reserve mine life. As we move forward with the feasibility study for this longer-term project, we will continue to prioritize balance sheet strength and disciplined capital allocation."

Yamana Gold Inc. (NYSE: AUY) provided an update earlier in May on exploration results for the Jacobina and El Peñón mines. Results at both operations continued to show growth in mineral reserves and mineral resource through year-end 2019 with additional promising new exploration results in the first quarter of 2020. The exploration results, at minimum, support the extended mine plan scenario ("Extended Case") highlighted in the Company's recent announcement on the Phase 2 expansion of Jacobina (see press release dated May 6th, 2020, available on the Company's website at www.yamana.com). The Extended Case, which considers the addition of 9.5 million tonnes of plant feed, based on conversion of current mineral resources, with an average grade of 2.40 grams of gold per tonne ("g/t"), is the Company's new base case. Mine life under this scenario is forecast at 14.5 years, however, Jacobina has a long track record of increasing mine life and the latest exploration results underscore the likelihood that mine life will increase further under the Extended Case scenario at the contemplated throughput of 8,500 tonnes per day ("tpd"). In addition, these results highlight the potential to bring higher grade areas into production earlier in the operation's mine life.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

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 unless mentioned otherwise. 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, recommendations 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 clarity gold corp., financial and corporate news dissemination, FinancialBuzz.com expects to be compensated five thousand dollars by the company. 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.

Media Contact:

[email protected]
+1-877-601-1879

www.FinancialBuzz.com

SOURCE FinancialBuzz.com