1. Introduction

In a time where large gold deposits are becoming increasingly rare, Goldshore Resources (TSXV:GSHR)(OTCQB:GSHRF)(FWB:8X00) set the bar high for themselves. After being guided by a 4M oz Au historic resource, Goldshore announced a robust NI43-101 compliant Inferred 4.17Moz @ 1.1g/t gold current resource in November 2022 at their fully owned flagship Moss Lake project in Ontario.

After adding more claims to the highly prospective and strategically located district-scale Shining Tree Gold project and W2 Copper-Nickel-PGE project, both located in mining-friendly Ontario, Platinex Inc (PTX:CSE)(9PX:FRA) decided to expand their horizon, and acquired the Muskrat Dam Critical Minerals project, also located in Ontario.

As 2022 has come to an end, it might be appropriate to not only discuss the latest, successful raise by Banyan Gold, but also reflect on their many successes in 2022 , the potential for the price of gold in 2023, something that is material to Banyan Gold of course, and macro economics and the sector as a whole.

Although markets are turbulent again after the Federal Reserve raised another 50 base points as expected but didn’t appear to be as dovish as hoped for, Vior Inc. (TSXV:VIO)(FRA:VL51)(OTCQB:VIORF) has been looking for ways to generate other exploration success besides their flagship Belleterre project in Quebec, where the first two phases of exploration have been completed and will likely continue with a Phase III drill program in Q2, 2023.

Although the Federal Reserve raised interest rates 50 base points as anticipated, markets didn’t really like the near term outlook of Powell, as they hoped for a more dovish stance on inflation and economic developments. This resulted in more volatility, but fortunately the gold price remained at US$1800/oz levels.

Since Dolly Varden Silver (DV.V)(DOLLF.US) isn’t a pure silver play anymore since the Homestake Ridge acquisition, but about half gold and half silver, and the gold price has been trading well lately, the stock has shown strength as a consequence, also reinforced by strong drill results at Wolf and Homestake Ridge in the last few weeks.

We are living in interesting times these days. Just as the world seemed to have overcome the COVID pandemic, China confused the markets again by massive lockdowns, after 28,000 new cases were reported on November 22, 2022 alone. It is estimated that restrictions are affecting productivity up to one fifth of GDP, and in turn this has significant effect on the world economy, and most metal prices for example.

Although a recession seems to be in the cards now as expected by many experts, the Fed rate hike forecasts (25-50 base points) still imply a soft landing, as certain figures didn’t disappoint. The Fed looked at the signs of disinflation at housing and labor, and there has been a serious case of socalled fiscal contraction, contributing to the slow pace of demand growth.

Drilling at Regnault target, Frotet project, Quebec

It was good to meet up in person again after a long time with Kenorland Minerals (KLD.V)(3WQO.FSE) CEO Zach Flood at a great conference in Frankfurt last week (Deutsche Goldmesse, organized by Kai Hoffman), and discuss the latest drill results of their flagship Regnault in Quebec, and further plans of the company.

It was good to see Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) intercepting economic mineralization at almost all of their step-out drill holes again at their flagship AurMac gold project in the Yukon. This clearly is testament to the great caontinuity of the deposits, and makes life easy for management as they are expanding on a 3.99Moz @ 0.60g/t Au Inferred resource.