Why Some Mining Experts See Gold Reaching $2,050 To $2,250

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Sep 21, 2021, 08:50 ET

PALM BEACH, Fla., Sept. 21, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Experts who follow Gold see more room for it to rise in both the short and long terms. First it was the pandemic that helped push its prices to all-time highs, and in the near future it may well be inflation that keeps it increasing. Gold, after a record year, is bound to see more gains in the medium and long-term, according to the CPM's Gold Yearbook. The CPM Gold Yearbook 2021 contains definitive and detailed statistics and analysis on the international gold markets. The pandemic has changed the world, making some of the existing problems even worse and setting gold up to benefit, the CPM Group said. "While the pandemic will eventually pass, it has left the world changed and has in fact compounded and worsened some of the factors that are supportive of gold prices," the CPM Group said. The biggest drivers that will support gold as the world reopens include sovereign and private sector debts, deficits, and ultra-loose monetary policies. An article in the Economic Times added that: "It continued: "After falling nearly 14 per cent in the first four months, assets of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose by nearly 30 tonnes in May, justifying the move in metal prices.". Active stocks in the mining markets this week include Golden Independence Mining Corp. (OTCQB: GIDMF) (CSE: IGLD), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Franco-Nevada Corporation (NYSE: FNV) (TSX: FNV), i-80 GOLD CORP. (OTCQX: IAUCF) (TSX: IAU), Newmont Corporation (NYSE: NEM) (TSX: NGT).

CPM Group continued with: According to CFTC data, speculators raised their long positions in COMEX gold and silver in the previous month. The prices may continue to move with a positive bias, supported by building inflationary pressures and expectations of a prolonged ultra-accommodative monetary policy from the US central bank. Investors will continue to watch upcoming economic data closely to keep a track of the post-pandemic recovery. Any future comments on inflation and interest rates by Fed officials would also be in focus since gold is used as a hedge against higher inflation. We continue to maintain our positive bias for an immediate upside towards $2,050, followed by $2,250. This year, they are expected to buy gold but wait for prices to soften on temporary dips before they step in as big buyers. This buying pattern is expected to have a different impact on prices than what was seen in 2020. Instead of rising sharply as investors chased gold prices higher as was the case in 2020, this year prices are likely to stay at elevated levels but could struggle to rise sharply as investors take a more cautious approach," the CPM Group said.

Golden Independence Mining Corp. (CSE: IGLD.CN) (OTCQB:GIDMF) BREAKING NEWS: GOLDEN INDEPENDENCE INTERSECTS 1.71 G/T GOLD AND 6.0 G/T SILVER OVER 70 FEET AT INDEPENDENCE PROJECT - Golden Independence or (the "Company") is pleased to announce the remaining drill results from its recently completed Phase II drill program at the Independence project, south of Battle Mountain, Nevada. The reverse circulation program targeted the main oxide gold zone as well as the intrusive gold target. Results for four holes from the main oxide zone include:

1.06 g/t gold and 8.9 g/t silver over 85 feet (25.9 metres)
0.76 g/t gold and 8.4 g/t silver over 245 feet (74.7 metres)
o including 1.20 g/t gold and 16.8 g/t silver over 100 feet (30.5 metres)
0.61 g/t gold and 4.0 g/t silver over 320 feet (97.5 metres)
o including 1.71 g/t gold and 6.0 g/t silver over 70 feet (21.3 metres)

"Three of the four remaining oxide holes intersected +1 gram per tonne gold intervals over 70 to 100 feet with two of those returning longer intervals of 0.60 to 0.76 g/t gold over 245 to 320 feet in the main oxide zone." commented Golden Independence President Tim Henneberry. "We continue to intersect longer +0.5 g/t gold intervals hosting shorter +1 g/t gold intervals within the main oxide zone and our Phase II results will positively impact the upcoming resource update for the Independence project." he concluded.

"Intercepts such as the 100 feet of 1.2 g/t gold and 8.4 g/t silver in hole AGEI-58 as well as previous results including 80 feet of 9.1 g/t gold and 25.2 g/t silver in hole AGEI-32 continue to demonstrate the higher grade potential of the main oxide gold zone at the Independence project." stated Golden Independence CEO Christos Doulis. "Results from our now complete Phase II drill program will be included in a resource update as part of a PEA on the project's near surface resource currently consisting of 537,300 ounces of gold in the Measured and Indicated categories and 147,300 ounces of gold in the Inferred category." he continued. CONTINUED… Read this entire release for the Golden Independence news at: https://goldenindependence.co/news/

Other recent developments in the mining markets include:

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has become a patron of the Charge on Innovation Challenge, an industry-wide effort to cut emissions from surface mining.

The Challenge takes the form of a global competition and seeks to leverage the experience and ideas of a variety of industries to develop new concepts and solutions for large-scale haul truck electrification. Electrification is seen as the key to decarbonize mining and the crux of the challenge is to develop a solution that will safely deliver electricity to large surface haul trucks without adding time to the haul cycle. So far over 350 companies from across 19 industries have registered their interest as vendors with 80 companies submitting formal expressions of interest.

Newmont Corporation (NYSE: NEM) (TSX: NGT) recently announced second quarter 2021 results.

SECOND QUARTER 2021 HIGHLIGHTS WERE: Produced 1.4 million attributable ounces of gold and 303 thousand attributable gold equivalent ounces from co-products; Reported gold CAS^* of $755 per ounce and AISC^* of $1,035 per ounce; Full-year results continue to be back-half weighted, in line with guidance ranges^;Generated $993 million of cash from continuing operations and $578 million of Free Cash Flow (97 percent attributable to Newmont)^*; Declared second quarter dividend of $0.55 per share, consistent with the previous quarter^***; Completed $149 million of share repurchases from $1 billion buyback program^***; Ended the quarter with $4.6 billion of consolidated cash and $7.6 billion of liquidity with a net debt to adjusted EBITDA^* ratio of 0.2x; Reduced $550 million of debt outstanding with available cash in April 2021; Completed acquisition of GT Gold in May 2021, increasing our interest in the prospective Golden Triangle.

Franco-Nevada Corporation (NYSE:FNV) (TSX: FNV) recently said it is on track to achieve record results in 2021, thanks to both organic growth and the acquisitions completed in the first half of the year. The diversified portfolio performed well in the second quarter and, with the first Vale Royalty Debenture contribution, delivered record GEOs, revenue, Adjusted EBITDA and Adjusted Net Income", stated Paul Brink, President & CEO. "Franco-Nevada generated Adjusted EBITDA of $290.0 million in the quarter, has no debt and has $197.7 million in cash and cash equivalents. Our revenue-based business model is particularly attractive during periods of industry cost inflation, as reflected in earnings, Adjusted EBITDA and Margins that are at or close to record highs. We have raised the bottom end of our GEOs sold guidance and, with the recovery in energy prices, have materially increased our Energy revenue guidance for the year."

Based on the strong results year-to-date, Franco-Nevada now anticipates GEO sales for 2021 to be near the higher end of the previously announced guidance and has revised the GEOs sold guidance range to 590,000 to 615,000 GEOs. Franco-Nevadais also pleased to raise its Energy revenue guidance to reflect higher commodity prices. Energy revenue guidance is now expected to range from $155 to $170 million, an increase from the prior range of $115 to $135 million. Commodity prices used in our revised guidance are the following: $1,800/oz Au, $25.00/oz Ag, $1,000/oz Pt, $2,700/oz Pd, $150/t Fe 65% CFR China, $60/barrel WTI and $2.75/mcf Henry Hub.

i-80 GOLD CORP. (OTCQX: IAUCF) (TSX: IAU) recently announced that initial rehabilitation of the underground workings has been completed at the Company's Granite Creek Mine ("Granite Creek" or "the Property") property located in Humboldt County, Nevada and an underground test mining program is now underway.

Granite Creek hosts both open pit and underground resources and is located proximal to Nevada Gold Mines' Twin Creeks and Turquoise Ridge mines at the north end of the Battle Mountain-Eureka Trend at its intersection with the Getchell gold belt in Nevada. The underground deposit at Granite Creek represents one of the highest-grade gold deposits in North America with resource grades in excess of 10 grams per tonne gold.

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