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Top Reasons to Buy Gold Stocks Immediately

BayStreet.ca - Tue Mar 5, 8:19AM CST

Last trading at $2,113, gold could see $2,500 with significant catalysts. All of which is strongly impacting companies such as Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Royal Gold Inc. (NASDAQ: RGLD), Franco Nevada Corp. (NYSE: FNV) (TSX: FNV), and Newmont Corp. (NYSE: NEM) (TSX: NGT).

For one, investors are flocking to gold, as a safe haven with economic and geopolitical chaos. Two, gold demand is expected to hit another record this year, as central banks continue to buy the safe haven, according to the World Gold Council. “Central-bank buying maintained a breakneck pace, with annual net purchases of 1,037 tons last year, just 45 tons shy of the record set in 2022, the WGC said in the report. It expects central-bank buying to top 500 tons this year,” added Bloomberg.

Two, even billionaires are buying gold over concerns of dollar devaluation and the potential for economic collapse. According to The-Sun.com, “Millionaires and elites are hoarding gold as part of their doomsday preparations as they look to barter with it, an expert has revealed. Multiple factors, from cell service outages to the election, have caused an absolute surge in gold sales.”

Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example

Calibre Mining Corp. just announced drill results from its 2023 exploration and infill drill program at the Volcan Gold Deposit, located approximately five kilometres south of the Libertad mill. Previous results led to the declaration of an initial open pit Mineral Resource Estimate in September of 2023. These new results support advancing toward a mining decision in mid-2024 with permitting ongoing.

Highlights from 2023 Volcan drilling include:

- 2.05 g/t Au over 5.9 metres Estimated True Width (“ETW”) including 3.48 g/t Au over 1.6 metres ETW in Hole VN-23-170;

- 1.87 g/t Au over 12.7 metres ETW including 3.21 g/t Au over 3.6 metres ETW in Hole NV-23-182;

- 3.13 g/t Au over 15.0 metres ETW including 6.33 g/t Au over 1.9 metres ETW and including 6.51 g/t Au over 2.7 metres ETW in Hole VN-23-163;

- 4.01 g/t Au over 4.8 metres ETW including 6.74 g/t Au over 1.6 metres ETW in Hole VN-23-175;

- 15.01 g/t Au over 2.6 metres ETW including 22.90 g/t Au over 1.4 metres ETW in Hole VN-23-171;

- 2.51 g/t Au over 9.3 metres ETW including 6.84 g/t Au over 2.5 metres ETW in Hole VN-23-179; and

- 6.37 g/t Au over 3.3 metres ETW including 11.87 g/t Au over 1.7 metres ETW in Hole VN-23-187.

Note: Estimated True Widths for reported vein intercepts are based on 3D models of the individual veins. Estimates are determined in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and through the midpoint of the drill hole intercept. Percentage based differences between individual ETWs and down-hole interval lengths will vary between drill holes depending on drill hole inclination, variations in vein strike and dip, and overall geometries of the different vein systems.

Darren Hall, President and Chief Executive Officer of Calibre, stated: “These drill results at Volcan are encouraging as we aim to expand and confirm the initial open pit Mineral Resource at Volcan. With Volcan having an initial open pit resource averaging 2.0 g/t Au, the 2023 exploration and infill drilling confirms that the deposit can host higher grade, near surface gold mineralization. The Libertad district has produced approximately two million ounces of gold and with consistent exploration Calibre continues to discover new opportunities to expansion resources and extend mine life along this highly prospective trend.

Calibre has responsibly demonstrated the value of our hub and spoke operating strategy, with permitting ongoing and Volcan’s proximity to the Libertad mill, we expect the deposit to contribute to the mine plan in the second half of 2024. This reinforces our peer leading “drill to mill” time frame with less than one year separating our initial resource declaration in September of 2023 and anticipated production.

Calibre remains on schedule with construction at the Valentine Gold Mine, Newfoundland & Labrador, Canada. The grinding building is now fully enclosed, and the Company has awarded the structural, mechanical, and piping contract to The Gisborne Group.”

Link 1Figures

Link 2Drilling Tables

Link 3Photos – Valentine Gold Mine Construction Updates

Other related developments from around the markets include:

Barrick Gold Corporation announced that it plans to undertake a new share repurchase program for the buyback of its common shares. Barrick’s Board of Directors has authorized a new program for the repurchase of up to $1.0 billion of the Company’s outstanding common shares over the next 12 months at prevailing market prices in accordance with applicable law. In connection with the new share repurchase program, Barrick has terminated the share repurchase program announced by the Company on February 15, 2023. The Company did not repurchase any common shares under its 2023 share repurchase program. Barrick repurchased $424 million in common shares under its 2022 share repurchase program.

Royal Gold Inc. announced that its Board of Directors has declared its second quarter dividend of $0.40 per share of common stock. The dividend is payable on Friday, April 19, 2024, to shareholders of record at the close of business on Friday, April 5, 2024.

Franco Nevada Corp. announced that its Board of Directors has raised its quarterly dividend and declared a quarterly dividend of US$0.36 per share payable on March 28, 2024 to shareholders of record on March 14, 2024. The increased dividend will be effective for the full 2024 fiscal year. This is a 5.88% increase from the previous US$0.34 per share quarterly dividend and marks the 17th consecutive annual increase for Franco-Nevada shareholders. Canadian investors in Franco-Nevada’s IPO in December 2007 are now receiving an effective 12.1% yield on their cost base.

Newmont Corp.’s President and CEO Tom Palmer just noted, “"2023 was a transformational year for Newmont, and for all of our stakeholders. With the acquisition of Newcrest now complete, our principal focus for 2024 is to integrate and transform our leading portfolio of Tier 1 assets into a unique collection of the world's best gold and copper operations and projects. With stable production and structured reinvestment throughout the year, we are strongly positioned to deliver on our commitments in 2024 and set the stage for meaningful growth in 2025 and beyond."

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp.Please click here for disclaimer.

Contact:

Ty Hoffer
Winning Media
281.804.7972
Ty@winning.media

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