We kick off this week’s gold report with an in-depth interview with Globex Mining (TSX:GMX), a mineral explorer and developer that offers exposure to one of the largest project portfolios in the public markets. Backed by a leadership team well-versed in the intricacies of mining M&A, the company is vying to earn differentiated returns through a combination of due diligence and diversification.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$5,063.47, according to data from ADVFN, up from US$5,038.01 per ounce in our February 4th report, holding steady after falling from a high of more than US$5,300 in late January.
The pullback, likely due to liquidity and profit-taking, has not dimmed the metal’s value proposition in the face of an abundance of catalysts for market uncertainty, including news of ICE’s cross-country expansion, tech giants’ bold spending plans to fuel the AI trend and evidence suggesting that the US dollar is losing favor across the global economy.
This week in gold
With gold settling into record-high territory, there’s no time like the present to consider opportunities across the mining lifecycle, which the past week generously delivered on with three standout stories:
On the exploration front, Heritage Mining (CSE:HML) identified visible gold on its Melba mine project in Northeastern Ontario. The mineralization, associated with an intercept of 42.57 grams per ton (g/t) gold over 1 m, adds conviction to Melba’s shared geology with a pair of million-ounce deposits along the Ross Fault in the Abitibi Greenstone Belt.
On the resource development front, Pelangio Exploration (TSXV:PX) recently initiated its 2026 drilling program at its Manfo Project in Ghana, where resources are estimated at more than 800,000 ounces of gold. Numerous targets are in play to inch towards the million ounce mark, including a historical intercept of 17 m at 1.22 g/t gold at Nfante East.
Finally, on the production front, Heliostar Metals (TSXV:HSTR) restarted its San Agustin mine in Mexico, aiming to produce 30,000-32,700 ounces of gold in 2026. The mine’s 2025 technical report estimates all-in sustaining costs of only US$1,605 per gold equivalent ounce. Heliostar is also pursuing an aggressive 10,000-15,000 m drilling program to extend mine life backed by numerous near-mine and regional targets.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 12,200+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 6,600+ views.
- Tudor Gold (TSXV:TUD) | 5,600+ views.
- B2Gold (TSX:BTO) | 5,300+ views.
- Freegold Ventures (TSX:FVL) | 4,100+ views.
- Monument Mining (TSXV:MMY) | 3,900+ views.
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