Financial News

Why Experts See Gold Remaining A Haven Into 2021 And Beyond

Palm Beach, FL – April 13, 2021-  Wealth Managers and many investors are hopefully anticipating a more positive year in 2021. COVID-19 is still with us, but with vaccines being distributed and inoculating more and more people, things are looking up. Along with government stimuli and businesses adapting to this “new normal”, recoveries are occurring in various sectors and regions. However, new infection waves and new COVID strains have created obstacles for already stretched economies. Nevertheless, experts view gold and other precious metals as  havens for wealth protection and growth, whichever way markets and economies respond in 2021. If instability reigns, gold and silver have shown throughout the COVID crisis of 2020 that they can withstand turmoil better than most other investments. And if markets recover, gold will remain an excellent hedge for any fluctuations that may come.   A report from wealth managers, J. Rotbart & Co. said that: “Not only did gold and silver perform better than many other investments in 2020, but gold prices broke records as well. COVID-19 threw the global economy into turmoil as supply chains slowed down or halted and every industry felt the impact directly or indirectly. Governments and central banks responded with lower interest rates and quantitative easing measures. This created the ideal environment for gold and other precious metals to shine, so to speak. And they did, even as other markets recovered, gold increased and maintained its value.”     Active mining stocks mentioned in today’s commentary include:  Ridgestone Mining Inc. (OTCQB: RIGMF) (TSX-V: RMI), Freeport-McMoRan Inc. (NYSE: FCX), Hudbay Minerals Inc. (NYSE: HBM) (TSX: HBM), Vale SA (NYSE: VALE), Capstone Mining Corp. (TSX: CS) (OTCPK: CSFFF).

 

The report continued that The US Dollar could be an indicator of gold’s future, saying that:  ”Specific to the US, which remains the major economic influence worldwide, gold prices will also depend on the dollar index. The US Federal Reserve’s monetary policy determines this. Discussions from the most recent Federal Reserve meeting indicated an optimistic outlook, leading to an upgraded growth forecast for the US economy. If COVID containment and control continues, the dollar may strengthen as the Fed scales back its recovery measures to let the economy stand on its own two feet. This strengthening could bolster the stock markets, causing lower demand for gold and a price drop. This drop, if any, however, we feel may not be impactful. As other central banks are planning on increasing their gold reserves as a protective measure in case of a new COVID strain or second wave of infections, so will more prudent investors follow their lead.”

 

Ridgestone Mining Inc. (TSX-V: RMI) (OTCQB: RIGMF) (FSE: 4U5) BREAKING NEWSRIDGESTONE COMMENCES EXPLORATION AT ITS HIGH-GRADE REBEICO COPPER-GOLD PROJECT IN MEXICO  Ridgestone Mining (“Ridgestone”) is pleased to announce a phased exploration plan at its wholly-owned Rebeico project in Mexico. Work to date has been positive and indicates that the identified copper-gold mineralization on the Rebeico claims may be part of a much larger mineralized system and is most likely related to this system.

 

The current exploration phase will be comprised of geologic mapping, sampling and prospecting with the aim of delineating additional targets for follow-up exploration drilling. Specifically, the program will focus on the New Year Zone, the Santa Elena outcrop, and the El Cobre mine. In addition, the program will evaluate a number of copper and gold prospects identified on the project.

 

“We are excited to remobilize to the Rebeico project specifically given the significant past exploration efforts which have already delineated a number of high-grade copper and gold opportunities within the expansive property package” stated Jonathan George, Ridgestone’s CEO and Director. “Our focus of this next phase of exploration is to refine and prioritize the numerous copper and gold targets within the project area for a follow-up drill program and extend the areas of known mineralization.”  CONTINUED….   Read this full release more news for Ridgestone Mining by visitinghttps://www.financialnewsmedia.com/news-rmi/         

 

In other mining news of note:

 

Freeport-McMoRan Inc. (NYSE: FCX) recently announced that its Board of Directors (“Board”) declared a cash dividend of $0.075 per share on FCX’s common stock payable on May 3, 2021, to stockholders of record as of April 15, 2021.  As previously reported on February 2, 2021, the Board adopted a financial policy for the allocation of cash flows aligned with FCX’s strategic objectives of maintaining a strong balance sheet, increasing cash returns to shareholders and advancing opportunities for future growth.

 

The policy includes a base dividend of $0.30 per share per annum and a performance-based payout framework to be implemented following achievement of a net debt target in the range of $3-$4 billion, excluding project debt for additional smelting capacity in Indonesia. Under the performance-based payout framework, up to 50 percent of available cash flows generated after planned capital spending and distributions to noncontrolling interests would be allocated to shareholder returns and the balance to debt reduction and investments in value enhancing growth projects.

 

Hudbay Minerals Inc. (NYSE: HBM) (TSX: HBM) recently announced that the final land user agreement for Pampacancha has been completed and Hudbay now has full access to the site to begin pit development activities.  “We are very pleased to have completed the final land user agreements at Pampacancha and we remain on track for first production in the second quarter of 2021, in line with guidance,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “This major milestone was achieved due to collaboration between the community and the Constancia team, which further demonstrates Hudbay’s strong social license to operate in Peru.”

 

In January 2021, the company commenced pre-development activities, including haul road construction and site preparation work, which will allow Hudbay to commence pre-stripping activities shortly.   Pampacancha is a high-grade copper and gold satellite deposit located approximately seven kilometres from Hudbay’s Constancia mine and processing facilities in Peru. Pampacancha is expected to contribute to an increase in copper and gold production at Constancia from 2022 to 2025 as the higher grades enter into the mine plan.

 

Samarco Mineracao SA, a joint venture between Brazilian miner Vale SA (NYSE: VALE) and BHP Group Ltd, has recently filed for bankruptcy protection to prevent creditors’ claims from affecting its operations, Vale said in a Friday securities filing.

 

The collapse of a dam at the Samarco mine complex in 2015 killed 19 people and severely polluted the Doce River with mining waste, one of Brazil’s worst environmental disasters. The facility, which resumed production in December, is the focus of significant litigation from bondholders holding nearly $5 billion in debt.

 

“The (judicial reorganization) filing is necessary to prevent legal actions already underway … from affecting Samarco’s ability to produce, ship, receive for its exportations and to fund the normal course of its activities,” the company said.

 

Capstone Mining Corp. (TSX: CS) (OTC: CSFFF) recently announced that it has entered into three separate agreements to advance Santo Domingo in Region III, Chile, (“Santo Domingo” or “the Project”) as described in the Santo Domingo Project, Region III, Chile NI 43-101 Technical Report and Preliminary Economic Assessment1 (the “Technical Report”), to construction targeted by year-end 2021.

 

“The gold stream and port agreements are key steps in our reduced capital strategy which aims to decrease the capital required by a target of $700 million. The consolidation of 100% ownership of the project allows Capstone to efficiently engage in discussions with potential strategic partners,” said Darren Pylot, President and CEO of Capstone, “KORES is a large shareholder and they believe the company is at the forefront of significant copper growth.”  Jason Howe, Capstone’s SVP Corporate Development stated, “this is another strong technical and financial endorsement from Wheaton and speaks to the potential of this fully permitted project in Chile. The Port deal is a partnership with a leading port services company whose track record is internationally recognized.”

 

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated forty five hundred dollars for news coverage of the current press releases issued by Ridgestone Mining Inc. by a non affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

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