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Tuesday, 11 May 2021 12:23 GMT

This is One of the Top Catalysts for Higher Gold Prices


(MENAFN - Baystreet.ca) Gold prices could push higher, once inflation kicks in, says Guardian Vaults business development manager John Feeney, as quoted by Kitco.com. "One of the main drivers for gold demand is a hedge against inflation. Inflation usually comes about after a rapid increase in the money supply. That's exactly what we saw in 2020 — an unprecedented expansion of the money supply globally last year." That could provide a sizable catalyst for companies such as West Mining Corp . (CSE:WEST)(OTC:WESMF), Barrick Gold Corp. (NYSE:GOLD)(TSX:ABX), Newmont Corporation (NYSE:NEM)(TSX:NGT), Kirkland Lake Gold Ltd. (TSX:KL)(NYSE:KL), and B2Gold Corp. (NYSE:BTG).

Look at West Mining Corp. (CSE:WEST)(OTC:WESMF) for example

West Mining is an advanced stage exploration company focused on developing a district-scale gold project in one of the world's premier mining jurisdictions. The company's Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia "The Golden Arc"

The company just announced that it has signed a diamond drilling contract with Wade Critchlow Enterprises Ltd. of Salmo, BC. The Company is planning on completing 10,000 metres of diamond drilling in multiple phases on its Daylight and Kena Properties located in southeastern British Columbia. The Daylight property hosts structurally controlled gold mineralization and the Kena Property contains both gold and copper porphyry targets. Drilling is expected to commence approximately June 1, 2021. The Company is fully financed to complete the drilling program.

Nicholas Houghton, President and CEO of West states "We are very pleased to have the experience of Critchlow Enterprises under contract for the 2021 field season. Having worked on the properties for many years, they have invaluable knowledge of the project. Working closely with our Geological team, the delineation program will have the benefit of prior information for targeted drilling."

Other related developments from around the markets include:

Barrick Gold Corp. notes the statement released by Papua New Guinea prime minister James Marape announcing an imminent agreement to reopen Porgera mine. Barrick and the Government of Papua New Guinea have continued to hold constructive discussions on a framework agreement for the recommissioning of Porgera, which has been on care and maintenance since April 2020. The agreement under discussion is in line with the principles announced in October, providing for a joint venture between Barrick Niugini Limited (BNL) and the government of PNG to operate Porgera going forward on the basis of increased PNG ownership and a fair sharing of economic benefits. BNL would continue as the operator of the mine. We remain hopeful that we will reach agreement with the PNG Government on a long-term partnership that will see the reopening of Porgera in the near future. 

Newmont Corporation announced it will report first quarter 2021 operations and financial results before the market opens on Thursday, April 29, 2021 and will hold a conference call at 10 a.m. Eastern Time (8:00 a.m. Mountain Time) the same day. The earnings call will also be carried on the Company's website.

Kirkland Lake Gold announced the filing of the Company's 2021 Sustainability Report . The 2021 Sustainability Report outlines the Company's achievements in 2020 and provides guidance on the Company's sustainability efforts for 2021. Tony Makuch, President and CEO, commented: "Mining in an environmentally and socially responsible way is essential to our operating and financial success and we are committed to integrating and promoting sustainability into all facets of our business. Our 2021 Sustainability Report highlights a year of significant progress in advancing our efforts to mine responsibly and maintain our social license."

B2Gold Corp. announces an update on the Menankoto exploration permit , which forms a part of the Anaconda area and is located 20 kilometres north of the Fekola Mine license area. The Company's Malian subsidiary, Menankoto SARL applied for a one year renewal of the Menankoto Permit in early February 2021 and was subsequently advised in early March 2021 that the new permit would not be granted to Menankoto. The Company strongly believes that Menankoto is entitled to a renewal of the permit under applicable law and is engaged in ongoing discussions with the Malian Government to clarify the situation.

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 West Mining Corp. by West Mining Corp. We own ZERO shares of West Mining Corp. Please click here for full disclaimer.

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