With the gold price holding strong above US$2,300/oz levels, perhaps due to the Russia and Israel conflicts aggravating while inflation increases again - thus delaying timing of upcoming rate cuts by the Fed – Westward Gold Inc. (WG.CSE) is progressing on the exploration front and recently announced positive sampling results for Toiyabe and East Saddle, after raising an oversubscribed and non-brokered sum of C$1.66M last month.
In a time where the world seems to get increasingly used to the Russia and Israel conflicts, China antics on trade and Taiwan, and a Federal Reserve preparing for rate cuts beginning in June, the gold price has broken out pretty violently, and printed a new high over US$2,400/oz, and maintains these lofty levels so far.
As the stockmarkets in the US are printing all-time highs again, not really urging the Federal Reserve to lower rates anytime soon it seems as inflation remains well above target, Kenorland Minerals (KLD.V)(3WQO.FSE) announced the final drill results for Regnault, part of their flagship Frotet Project in Quebec.
With the Federal Reserve indicating doubts about retreating inflation levels, postponing a potential first rate cut to at least May, the US stock markets hesitated just a moment, the S&P500 printing new all-time highs shortly after, and with gold remaining well over US$2,000/oz, Goldshore Resources (TSXV:GSHR)(OTCQB:GSHRF)(FWB:8X00) stayed the course as promised, and announced their updated resource estimate for their Moss Gold Project in Ontario.
With the Federal Reserve indicating doubts about retreating inflation levels, postponing a potential first rate cut to at least May, the US stock markets drifted lower initially, but found strength again soon that same day, and gold didn’t even faze and marched up to US$2083/oz anyway, the highest level of this year.
Ice drilling at Regnault target, Frotet project, Quebec
At a time where markets are weighing Federal Reserve comments about being hawkish towards rate cuts as inflation remains persistent, two major conflicts deepen (Russia-Ukraine) or seem to spread out (Israel-Hamas), the BRICS expand with new members, and recession fears are looming large in the background, gold remains trading above US$2,000/oz.
Platinex Inc (PTX:CSE)(9PX:FRA) had to manoeuvre carefully on their fully permitted flagship W2 copper-nickel-PGE project, a district scale land area in Northern Ontario, but finally managed to acquire the two missing pieces of the puzzle in the centre of their claim package.
After a busy summer of prospecting, mapping and VTEM surveys, EGR Exploration (EGR.V) is ready to commence the next phase of exploration at their flagship Detour West Gold property in Ontario. The project is on trend and directly west of the giant Detour Lake gold mine.
Introduction
After spending almost 1.5 years assembling and permitting several significant projects in Ontario, junior explorer Platinex Inc (PTX:CSE)(9PX:FRA) commenced reconnaissance exploration work in August at their gold and lithium projects, with assays for the lithium project called Muskrat Dam being expected around in January 2024.
Preview:
You don’t come across explorers like Vior (TSXV:VIO)(FRA:VL51) too often, with district scale prospective projects in its portfolio, strong backing (Osisko Mining, SOQUEM, Quebec funds) and high-quality core investor base for a small free float. The stock has been side-ranging since September, and is at an attractive entry point for new investors.