We kick off this week’s gold report with Benz Mining (TSXV:BZ/ASX:BNZ), a junior mining company that delivered an ultra-high-grade gold discovery at its Mt Egerton project in Western Australia – yielding 7 metres at 223 grams per ton of gold – only about 170 km from its potentially multi-million-ounce Glenburgh project. Shares have added 597 per cent year-over-year.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$4,914.32, according to data from ADVFN, down from US$5,155.97 per ounce in our March 11th report, indicating investor concern about rising energy prices stemming from the war in Iran encouraging higher interest rates, which would make gold appear less attractive versus yield-bearing assets.
This week in gold
Another mining company taking decisive steps to build shareholder value is Relevant Gold (TSXV:RGC), whose C$15 million capital raise, including investments from Rob McEwen, William Bollinger and Kinross Gold (NYSE:KGC), significantly de-risks the company’s path forward. Partial proceeds will fund drilling at the Lewiston project in Wyoming, where a more than 10-kilometre mineralized trend and historic samples up to 1,690 ounces per ton of gold speak to the land package’s tangible potential. Shares are up by 34 per cent year-over-year.
Investors looking to build value through development should also take a look at Pinnacle Silver and Gold (TSXV:PINN), whose 160 per cent return year-over-year, well ahead of gold and silver’s efforts, is tied to a clear and shortening path to restarting its past-producing El Potrero project in Durango, Mexico.
Our final story in this week’s report delves into near-term producer Desert Gold Ventures (TSXV:DAU), whose dual pursuit of gravity plant production and resource expansion drilling in Mali has resulted in substantial market enthusiasm, rewarding investors with a 108 per cent return year-over-year.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 13,600+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 8,800+ views.
- Tudor Gold (TSXV:TUD) | 6,800+ views.
- Freegold Ventures (TSX:FVL) | 2,900+ views.
- Pirate Gold (TSXV:YARR) | 2,600+ views.
- McFarlane Lake Mining (CSE:MLM) | 2,500+ views.
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