Use Of Gold As A Portfolio Diversifier Expected To Grow This Year With Hope Prices Move Higher

FinancialNewsMedia.com News Commentary

PALM BEACH,  Fla., Aug. 10, 2021 /PRNewswire/ -- After a record year, gold is bound to see more gains in the medium and long-term, according to the CPM's Gold Yearbook. The CPM Gold Yearbook 2021 contains definitive and detailed statistics and analysis on the international gold markets. The pandemic has changed the world, making some of the existing problems even worse and setting gold up to benefit, the CPM Group said.  "While the pandemic will eventually pass, it has left the world changed and has in fact compounded and worsened some of the factors that are supportive of gold prices," the CPM Group said.  The biggest drivers that will support gold as the world reopens include sovereign and private sector debts, deficits, and ultra-loose monetary policies.  Governments around the world will struggle to reverse the fiscal policies introduced as a response to the pandemic, said the CPM Group, citing lackluster economic growth in coming years.  Active stocks in the mining markets this week include Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB), Franco-Nevada Corporation (NASDAQ: FNV), B2Gold Corp. (NYSE: BTG) (TSX: BTO), Gold Fields Limited (NYSE: GFI), Alamos Gold Inc. (NYSE: AGI) (TSX: AGI).

"This scenario positions gold well for further gains in the medium to long term," the Yearbook stated. "The pandemic has deepened these problems and will make it harder to reverse some of these issues, which will help to keep investors interested in the metal."  The CPM Group projects a softer U.S. dollar in 2021 but does not see a total currency collapse. "The dollar, however, derives its value in relation to other currencies. Compared to most of the dollar's major peers, the U.S. economy and dollar still are in better shape, which should provide downside support to the value of the currency.  This year, they are expected to buy gold but wait for prices to soften on temporary dips before they step in as big buyers. This buying pattern is expected to have a different impact on prices than what was seen in 2020. Instead of rising sharply as investors chased gold prices higher as was the case in 2020, this year prices are likely to stay at elevated levels but could struggle to rise sharply as investors take a more cautious approach," the CPM Group said.

Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB) BREAKING NEWS:  CALIBRE ANNOUNCES ADDITIONAL HIGH-GRADE DRILL RESULTS AT THE 100%-OWNED EASTERN BOROSI PROJECT INCLUDING 25.07 G/T GOLD OVER 9.7 M AND 39.21 G/T GOLD OVER 3.1 M - Calibre Mining Corp. ("Calibre" or the "Company") is pleased to provide drill results and an update on the progress at its 100% owned Eastern Borosi Project ("EBP") located in northeastern Nicaragua. Calibre is advancing the high-grade open pit, and underground resource veins at EBP to provide mill feed to the Libertad mill which has surplus capacity.  A multi-rig resource expansion and discovery drilling program is now underway along strike of the known vein systems.

Highlight Infill Drill Results:

Guapinol Open Pit

• 25.07 g/t Au over 9.7 metres ETW ("Estimated True Width") from 44.8 metres (GP-21-100)
• 39.21 g/t Au over 3.1 metres ETW from 204.2 metres (GP-21-099)
• 24.85 g/t Au over 3.9 metres ETW from 125.8 metres (GP-21-096)

Vancouver Open Pit

• 9.38 g/t Au over 2.2 metres ETW from 134.5 metres in the HW vein and 8.90 g/t Au over 2.3 metres ETW from 150.0 metres in the FW vein (GP-21-069)

Riscos De Oro Underground

• 33.64 g/t Au over 3.2 metres ETW from 311.8 metres (RDO-21-080)
• 11.26 g/t Au over 2.8 metres ETW from 306.0 metres (RDO-21-076)

Darren Hall, President & Chief Executive Officer of Calibre, stated: "Today's infill drill results continue to demonstrate the high-grade nature of these deposits with Guapinol and Riscos de Oro delivering the best results to date. With EBP located within trucking distance of our Libertad mill, along established infrastructure, the project is poised to deliver our lowest cost ounces, again demonstrating the ability to efficiently translate satellite deposits into near term, high margin mill feed. The project is advancing ahead of our initial expectations with updated mineral resource estimates expected in Q1 2022 and operating permit submissions within the next six months.

Furthermore, we see excellent exploration potential for discovering additional high-grade vein systems across the 176 km² EBP land package. The exploration team have begun drilling high-priority targets for further resource expansion along the Guapinol and Riscos de Oro vein trends and for the discovery of new bonanza-style gold-silver vein systems along underexplored gold trends in the district."  CONTINUED… Read this entire release for the Calibre Mining Corp. news at:  https://www.calibremining.com/news/2021     

FOR ADDITIONAL INFORMATION, PLEASE ALSO VISIT:  https://www.equedia.com/calibre-mining-price-target-shows-170-upside/ 

Other recent developments in the mining markets include:

Franco-Nevada Corporation (NASDAQ: FNV) diversified portfolio outperformed in the first quarter generating record revenues and an 85% Adjusted EBITDA Margin," stated Paul Brink, President and CEO. "Antamina, Cobre Panama, and Hemlo made strong contributions along with our Energy assets that benefitted from a recovery in prices. We were delighted, post quarter-end, to acquire the Vale Royalty Debentures that, along with our Labrador Iron Ore Royalty Company investment, add to our base of low-risk long-life cash flow. The transaction adds to the diversity of our portfolio while it remains more than 80% precious metals focused. Following the acquisition, we have revised our guidance and outlook and now expect 25% growth in revenue over the next five years. Our primary focus is on adding further precious metal assets to the portfolio."

At the annual meeting, the Hon. David R. Peterson stepped down as the Chair of the Compensation and ESG Committee and, after more than 13 years, as a Director of Franco-Nevada. The Board thanked Mr. Peterson for his outstanding leadership, consensus-building contributions and many years of service.    Franco-Nevada is pleased to announce that its Board of Directors has declared a quarterly dividend of $0.30 per share as had been previously announced. The dividend will be a 15.4% increase from the previous $0.26 per share quarterly dividend and will mark the 14th consecutive annual dividend increase for Franco-Nevada shareholders. The dividend was paid on June 24, 2021 to shareholders of record on June 10, 2021(the "Record Date"). The Canadian dollar equivalent is to be determined based on the daily average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident individuals who receive "eligible dividends" are entitled to an enhanced gross-up and dividend tax credit on such dividends.

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) recently announced its operational and financial results for the second quarter and first half of 2021. The Company previously released its gold production and gold revenue results for the second quarter and first half of 2021. All dollar figures are in United States dollars unless otherwise indicated.

2021 Second Quarter Highlights Were: Total gold production of 211,612 ounces (including 14,232 ounces of attributable production from Calibre Mining Corp. ("Calibre"), well above budget by 5% (10,269 ounces), and consolidated gold production of 197,380 ounces from the Company's three operating mines, well above budget by 5% (9,787 ounces); Consolidated gold revenue of $363 million on sales of 200,071 ounces at an average price of $1,814 per ounce; Fekola's mill throughput `was a quarterly record of 2.29 million tonnes, 16% above budget and 47% higher than the second quarter of 2020, following the successful completion of the Fekola mill expansion in September 2020; Total cash operating costs (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $664per ounce produced and consolidated cash operating costs from the Company's three operating mines of $649 per ounce produced, both approximately in-line with budget; Total all-in sustaining costs ("AISC") (see "Non-IFRS Measures") (including estimated attributable results for Calibre) of $1,016 per ounce sold and consolidated AISC from the Company's three operating mines of $1,011 per ounce sold, both below budget by 3%; Net income attributable to the shareholders of the Company of $68 million ($0.07 per share); adjusted net income (see "Non-IFRS Measures") attributable to the shareholders of the Company of $52 million ($0.05 per share); and B2Gold maintains a strong financial position and liquidity with cash and cash equivalents of $382 million as at June 30, 2021, and its $600 million Revolving Credit Facility remains fully undrawn and available.

Gold Fields Limited (NYSE: GFI) recently advised that basic earnings per share for the six months ended 30 June 2021 (H1 2021) are expected to be between US¢42-46 per share, an increase of 133-156% (US¢24-28 per share) from the basic earnings of US¢18 per share reported for the six months ended 30 June 2020 (H1 2020).

Headline earnings per share (HEPS) for H1 2021 are expected to be US¢43-47 per share, 115-135% (US¢23-27 per share) higher than the US¢20 per share reported for H1 2020.  Normalised earnings for H1 2021 are expected to be US¢47-51 per share, 27-38% (US¢10-14 per share) higher than the US¢37 per share reported for H1 2020.  The increase in earnings for the period is driven largely by an increase in revenue (both higher gold price received and increase in gold sold); a reduction in the loss on financial instruments; partially offset by higher net operating costs and higher tax.  Attributable gold equivalent production for the six months ended 30 June 2021increased marginally YoY to 1,104koz (H1 2020: 1,087koz).  All-in sustaining costs (AISC) for the Group for H1 2021 are US$1,093/oz, compared to US$987/oz in H1 2020, an increase of 11% YoY, driven by an increase in net operating costs.

Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) recently reported its financial results for the quarter ended June 30, 2021.  "Our overall performance through the first half of 2021 has been solid, led by another strong quarter at Young-Davidson which continues to meet or exceed expectations operating from the new lower mine infrastructure. We expect mining rates at Young-Davidson to increase to design capacity in the third quarter driving our consolidated production and free cash flow higher in the second half of the year. Combined with a stronger performance from Mulatos, we remain well positioned to achieve full year guidance," said John A. McCluskey, President and Chief Executive Officer.

"We had a successful quarter on the exploration front at Young-Davidson and Island Gold with results from both operations highlighting the significant upside potential, in particular at Island Gold where we reported the best hole ever. Our other internal growth initiatives continue to advance, including work on the Phase III expansion at Island Gold, construction of La Yaqui Grande, and permitting at Lynn Lake. All support our strong long term outlook with production potential of approximately 750,000 ounces per year at substantially lower costs by 2025," Mr. McCluskey added.

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