Gold prices have skyrocketed in recent trading sessions, hitting US$2,065 per-ounce for the first time in history. Gold Prices have retreated since the latest run up, and last traded at US$1,950 per-ounces.
As we have entered a new bull market for precious metals, investors will look at key companies to gain exposure to the yellow brick.
“The combination of roaring energy prices, grain prices, base metal prices are culminated in dramatic inflationary pressures that continue to be the major underlying support behind gold moves higher,” David Meger, director of metals trading at High Ridge Futures.
“In addition, we’re seeing significant amount of safe haven bids in the gold market as equity markets have come under pressure due to major concerns on the geopolitical front,” Meger added.
Some of the largest financial institutions have revised their targets for gold, U.S. investment firm Goldman Sachs has pushed up its gold price projections in light of recent political events.
Looking closer at the forecasts the bank changed its 3-month horizon to $2,300/oz, from $1950 previously. The 6-month protection has moved to $2,500/oz, from $2050/oz previously
And lastly the 12-month horizon to $2,500/oz, from $2150/oz previously. Goldman is citing an increase in demand from consumers, investors, central banks. Due to the rising geopolitical uncertainty.
ONE GOLDSTOCK FOR YOUR WATCHLIST?
Amani Gold (ASX: ANL) (OTC: BRYYF)is currently sitting on an impressive 4.4Moz gold resource at their Giro Gold Project and has multiple targets outlined to define additional ounces. The Giro Gold project consists of two permits covering 497 sq. km and hosts the same geological setting as the $5 BILLION Kibali Gold Mine which is currently operated by Barrick Gold (TSX: ABX) and Anglo Ashanti. Giro is strategically located 35km from Kibali which currently hosts a massive 20Mozgold resource.
Kibali was originally founded by serial mining executive Klaus Ekchof who has built a career by unlocking significant shareholder value through exploration success. Moto Goldmines was trading at $0.04 in 2003, within a short period, Klaus was able to delineate 12Moz of gold at Kibali and was later acquired by Randgold Resources for US$500M in 2009. Since the US$18Bmega-merger of Randgold X Barrick (TSX: ABX) went down in 2019, Mark Bristow was tapped to take the helm of the newly formed company. The Kibali gold mine produced a total of 812,152 ounces in 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of Barrick Gold’s (TSX: ABX) Tier One assets.
Amani Gold’s (ASX: ANL) (OTC: BRYYF) Giro Gold Project consists of two deposits – Kebigada and Douze Match:
Kebigada currently hosts an impressive 4.1Moz gold resource. Drilling has confirmed a main zone of mineralization over 1.5km,widths up to 350-400 metres and depths exceeding 300 metres. Drill results produced from Kebigada show the true potential of this deposit and indicates the resources could potentially grow substantially once further exploration work is completed. Some of these results include:
- GRRC058: 97m at 2.56g/t Au from surface to bottom of hole
- GRRC075: 47m at 4.13g/t Au from 25m, including 29m at 5.93g/t Au from 25m
- GRRC204: 89m at 1.58g/t Au from 8m including 38m at 2.45g/t Au from 8m
Latest drilling done at Kebigada has intercepted significant mineralization (Press release dated Feb 28/22) Hole GRDD036 intersected 302.05m@ 1.18g/t Au from surface.
The Douze Match deposit currently hosts a 320K ounce gold resource and has delivered exceptional results indicating a potential of a significant gold resource expansion. Previous intercepts returned:
- 2m at 196g/t Au from 12m & 15m at 255.6g/t Au from 15m, including 3m at 1,260g/t Au from 15m
- 20m at 7.1g/t Au from surface and 12m at 21.2g/t Au from 3m in laterites
Amani Gold’s (ASX: ANL) (OTC: BRYYF) management team comprises of highly successful mining executives, who have built careers developing world-class assets that have turned into significant mines:
KLAUS ECKHOF, EXECUTIVE CHAIRMAN
Mr Eckhof is a geologist with more than 25 years experience identifying, exploring, and developing mineral deposits around the world.
Mr Eckhof worked for Mount Edon Gold Mines Ltd as Business Development Manager before it was acquired by Canadian mining company, Teck. In 1994, he founded Spinifex Gold Ltd and Lafayette Mining Ltd, both of which successfully delineated gold and base metal deposits. Mr. Eckhof has spent numerous years developing contacts within the DRC with several mining deals being very successfully executed.
In late 2003, Mr Eckhof founded Moto Goldmines, which acquired the Moto Gold Project in the DRC. There Mr Eckhof and his team raised over $100 million and delineated more than 12Moz of gold and delivered a feasibility study within four years from the commencement of exploration. Moto Goldmines was subsequently acquired by Randgold Resources for $488m, who poured first gold in September 2013. The resource now stands at some 22Moz of gold.
CONRAD KARAGEORGE, Chief Executive Officer
Conrad Karageorge is a corporate adviser and resources executive with experience in precious and base metals in Australia and Africa. He has degrees in law and commerce and is admitted to practice law in Western Australia. Mr Karageorge is Chief Executive Officer with Amani Gold Limited (ASX:ANL) and has undertaken strategy consulting roles with Argent Minerals Limited, MinRex Resources Limited, Bassari Resources, and Nkwe Platinum. Conrad is non-executive director of gold explorer Orange Minerals NL (ASX:OMX).
PETER HULJICH, Non-Executive Director
Mr Huljich has over 25 years’ experience in the legal, natural resources and banking sectors with expertise in capital markets, mining, commodities and African related matters. He holds a Bachelor of Commerce and an LLB from the University of Western Australian and is a Graduate of the Securities Institute of Australia and a graduate of the AICD Company Directors Course. MrHuljich is a Non-Executive Director of ASX listed AVZ Minerals Limited(ASX:AVZ) and Kogi Iron Limited (ASX:KFE).
TRACK RECORD IN THE DRC
Amani Gold’s (ASX: ANL) (OTC: BRYYF) Chairman, Klaus Eckhof has built a reputation within the DRC, and has made numerous billion-dollar discoveries within the country:
AVZ Minerals (ASX: AVZ)
Eckhof was Chairman at AVZ Minerals (ASX:AVZ), another DRC exploration company, which is sitting on the world’s largest undeveloped hard rock lithium resource.
Under Eckhof’s guidance AVZ had a sensational run in the year from January 2017 to March 2018 delivering shareholders 2,500% gains when the stock rose from just above 1 cent to 37 cents in 15 months. Currently AVZ Minerals is trading at a $3 Billion market cap, and recently announced a massive US$280M financing with one of the richest men in Asia to bring the Manono into production.
Alphamin Resources (TSX.V:AFM)
Eckhof also previously vended the high grade Bisie tin discovery into a TSX-V listed company, Alphamin Resources (TSX.V: AFM), located in what is considered a more “difficult” region of the DRC when compared to Giro.
He financed it with Denham Capital, a leading energy and resources global private equity firm, now with over US$8.4 billion of invested and committed capital. As of today, Alphamin is considered the world’s richest tin mine and currently has a market cap of $1.5Billion.
Amani Gold (ASX: ANL) (OTC: BRYYF) currently trades at a A$35M market cap and has ~$7M cash in the bank. Based on previous deals, Klaus will continue to do what he does best – CREATE SHAREHOLDER VALUE through exploration success. Amani Gold (ASX: ANL) (OTC: BRYYF) is cashed up for an aggressive drill program and is ready to increase the gold resources substantially at their Giro Gold project which hosts the same geological setting as the $5 billion Kibali Gold Mine.
Disclaimer: Amani Gold is a paid marketing client*