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.
Click here for the full story.
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.