Gold Digger: Gold regains the crown if crypto crashes
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As an uncorrelated asset – value not tied to larger fluctuations in the traditional markets — gold has had “its lunch cut a bit” by crypto, PCF Capital’s Liam Twigger says.
“There is an article in the last Economist asking, ‘what happens if bitcoin goes to zero?’,” Twigger told Stockhead on the sidelines on Diggers and Dealers this week.
Apart from complete carnage – potentially another subprime mortgage-like crisis — gold would be the true beneficiary of a crypto crash, he says.
“Gold has fundamental value; it has that history of being a store of value,” Twigger says.
“[A crypto crash] may well provide the next trigger for something big – a big fall would reignite the value of gold.”
“[Either way], I think the outlook for gold is very strong.”
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Approvals for mine development are in place and a toll milling agreement executed for ore processing in the March quarter 2022.
At the end of July, Orminex was also in discussions “with key stakeholders of a number of strategic gold projects in the proven and prospective Abitibi region, located in the Tier-1 jurisdiction of Quebec, Canada”.
Manas, renamed Turaco Gold (proposed code ‘TCG’), has acquired ~62,000sqkm of gold-prospective ground in Côte d’Ivoire, Africa, from miner Resolute (ASX:RSG).
It’s three core projects are Boundiali (89% JV with proven mine finder Predictive Discovery), Ferke (89% JV with Predictive Discovery), and Tongon North (100%).
Exploration within the Resolute package will kick off immediately with auger drilling this week, aircore and RC drilling at Boundiali within the next two weeks.
The mine, which comprises several deposits around 40-80km north of Kalgoorlie, is expected to produce first gold in late 2022.
The monstrous ‘Bankan’ gold discovery in Guinea keeps getting bigger, just like Predictive’s share price.
The stock ‘is now up 2,740% — from 0.59c to $16.75 per share — since announcing the discovery hole in March last year.
New drill results obtained north of the high-grade gold zone at ‘NE Bankan’ including 61m at 1.9g/t will go toward calculating a maiden resource (MRE) for the project, due out late September.
Drilling is now in progress to test the high-grade gold zone at depth.
The first of these holes is testing the target zone at around 350m vertical depth, the deepest hole to be completed at NE Bankan so far.
Assays from this hole are expected in 3-4 weeks (after the cut-off date for inclusion in the MRE).
“With approximately $28 million cash on hand, the company remains well funded to execute an aggressive drill program that aims to continue driving growth in scale at each of NE Bankan and Bankan Creek, as well as explore earlier-stage regional targets,” Predictive says.