Over the past week, the gold industry offered up an abundance of news stories with the potential to pique investor interest, rev up due diligence and potentially justify an allocation.
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.
We begin with Founders Gold (TSXV:FDR), which announced a deal to acquire the remaining 30 per cent interest in its 102,360-acre Antino project in Guyana. The project features eight discovery zones with promising mineralization within the prolific Guiana Shield. Founders shares have added more than 1,200 per cent since 2021.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$4,370.30, according to data from ADVFN, down from US$4,407.41 per ounce in our August 12th report, stepping back in response to higher US bond yields, with the 30-year treasury hovering around 5.26 per cent, its highest level since 2002, as well as persistent hostilities between the US and Iran, despite a memorandum of understanding signed almost one month ago to end their ongoing war.
This week in gold
Thesis Gold & Silver (TSXV:TAU) made its way across the investing airwaves with a new investment from AngloGold Ashanti (NYSE:AU), almost doubling the leading gold miner’s stake in the company. Thesis’ Lawyers-Ranch gold and silver project in BC hosts one of the country’s largest undeveloped mineral resources. Shares have added 246 per cent year-over-year.
I also have my eyes on Omai Gold Mines (TSXV:OMG), whose new preliminary economic assessment (PEA) for its eponymous project in Guyana details production of 351,488 ounces of gold per year over an 18-year mine life. The milestone marks the junior miner’s transition from explorer to developer, adding heft to its stock’s more than 2,000 per cent return since 2021.
To end, I’m shining a light on Lahontan Gold (TSXV:LG), whose updated resource estimate at its Santa Fe project in Nevada surpassed 2 million ounces, adding 435,000 gold-equivalent ounces on top of the 2024 estimate. A PEA is on the way, to be followed by mine construction as soon as next year, offering the market strong catalysts to build upon the company’s 270 per cent return year-over-year.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 15,000+ views.
- Tudor Gold (TSXV:TUD) | 6,500+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 5,800+ views.
- Monument Mining (TSXV:MMY) | 4,100+ views.
- Equinox Gold (TSX:EQX) | 3,300+ views.
- Banyan Gold (TSXV:BYN) | 3,200+ views.
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