In the latest edition of Stockhouse’s Gold Report, we consider four Canadian mining companies that put their best foot forward to foster shareholder value over the past week.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Our top story highlights Falco Resources (TSXV:FPC), whose Horne 5 project in Rouyn-Noranda, Quebec, estimated to produce 220,000 ounces of gold annually over a 15-year mine life, is expected to receive government authorization in short order.
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By the ounce
At the time of writing on Thursday, the price of gold was US$4,200.06, according to data from ADVFN, down from US$4,317.06 per ounce in our September 23rd report, representing an 8% gain year-over-year.
The metal continues to fade in response to rising bond yields, hawkish US monetary policy and a strengthening US dollar, as yet another proposal to end the US-Iran war failed to reach consensus.
This week in gold
Ashley Gold (CSE:ASHL) continues to harvest upside from its Burnthut project in Ontario, hitting 3.333 grams per ton (g/t) gold over 60 metres (m) during phase-3 drilling, with a phase-4 program well underway to decrease the divide between the project and its million-ounce-neighbors to the southwest.
White Gold (TSXV:WGO) ushered its White Gold project in the Yukon further along the mining lifecycle with a preliminary economic assessment estimating average annual production of 188,000 ounces per year over a 9.4-year mine life. Ongoing drilling seeks to improve this outlook as the company prepares for the project’s next phase of economic study.
Last up, we have Mayfair Gold (TSXV:MFG), a developer in talks for a C$310 million financing package with Macquarie Bank, which would provide most of the initial capital required to get its Fenn-Gib gold project in Timmins, Ontario, off the ground. Mayfair is vying to advance the 4.3-million-ounce project to production as soon as 2030.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 16,300+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 8,700+ views.
- Monument Mining (TSXV:MMY) | 8,300+ views.
- Tudor Gold (TSXV:TUD) | 7,800+ views.
- Banyan Gold (TSXV:BYN) | 4,700+ views.
- NorthIsle Copper and Gold (TSXV:NCX) | 4,500+ views.
Join the discussion: Find out what investors are saying about the Canadian stocks in this week’s Gold Report on Stockhouse’s stock forums and message boards.
