Bullish Sentiments High on Gold Trends as Mining Operations Continue to Ramp Up

PALM BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – In an recent article published by Skilliing.com regarding current Gold trends: “From ancient civilizations to modern-day investors, gold has consistently been sought after for its perceived stability and hedge against inflation and economic uncertainty. This enduring appeal has led to significant price movements over the years, with gold prices often mirroring broader economic trends. Understanding these dynamics is crucial for predicting future gold price movements and making informed investment decisions. According to experts, the gold price in October 2024 is expected to be influenced by several key factors. The ongoing geopolitical tensions, particularly in the Middle East, are likely to keep gold prices elevated. Additionally, the anticipation of US rate cuts in the third and fourth quarters of 2024 could further boost gold prices. With the current record already at $2,431.85, the next milestone to watch is $2,500 per ounce. The bullish setup of gold’s chart and its leading indicators suggest that gold could move close to the $2,550 area in 2024. This prediction is supported by the recent rally in gold prices, which has already surpassed many predictions for the year. The combination of geopolitical concerns and the potential for rate cuts makes a further rally in gold prices plausible.” Active mining companies in the markets this week include RUA GOLD Inc. (OTCQB: NZAUF) (TSX-V: RUA), Mawson Gold Limited (OTCPK: MWSNF), Founders Metals Inc. (OTCQX: FDMIF), SNOWLINE GOLD CORP (OTCQB: SNWGF) (TSX-V: SGD), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM).

Skilliing.com added: “In the context of broader economic trends, the gold price prediction for October 2024 is also influenced by the strength of the dollar and the overall economic landscape. As interest rates start to fall, gold prices could hit fresh records. The average price target for gold in the final quarter of 2024 is around $2,175 per ounce, according to JPMorgan Chase & Co. This suggests a continued upward trajectory for gold prices in the latter half of 2024. 2025 Outlook: The outlook for 2025 is more uncertain. Some experts expect gold prices to stabilize around $2,350 per ounce in early 2025, with a potential decline to $2,175 later in the year, depending on the pace of U.S. central bank rate cuts. HSBC predicts a 12% drop in gold prices in 2025 due to rising real interest rates, while other analysts remain bullish, suggesting prices could exceed $3,000. 2030 Outlook: By 2030, some forecasts suggest gold could reach $7,000 per ounce, driven by low real interest rates, rising inflation, and demographic shifts that fuel demand for gold as a secure asset. Central bank demand will likely play a key role in supporting long-term growth.”

RUA GOLD’s (TSXV:RUA) (OTCQB:NZAUF) Drill Program Intersects Near Surface Gold at The Reefton Project – RUA GOLD Inc. (WKN: A4010V) (“RUA GOLD” or the “Company”) is pleased to provide an update from the drilling campaign underway at the Reefton Project on the South Island of New Zealand.    The Company commenced its near mine drill program on the Murray Creek targets in July. A second drill rig was introduced in September to test the Capleston vein system. These historic mines collectively produced ~700koz of gold at 25.2g/t within a radius of ~20 kilometers.

Robert Eckford, CEO of RUA GOLD commented: “Our five years of meticulous surface exploration work over the Reefton project is paying dividends from the outset of this drill program. Both of the initial drill holes have confirmed we are in right area and are locating these lodes. The near surface intercepts on Capleston are encouraging and makes for compelling economic ounces, it supports our thesis that the surface veins are continuous past the old workings. Despite the initial drill hole at Murray Creek hitting old workings, it is extremely encouraging that we have identified the dip angle of the Victoria lode and we have even more confidence with the subsequent hole that is underway now, and results from this will be ready in the next few weeks.”

Capleston – On the second drill rig, which was introduced to test the Capleston vein system, the Company targeted an undeveloped and near-surface vein at the southern end of the two kilometer long historic Capleston project, the highest-grade producer of the Reefton Goldfield historically. Near surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

The first diamond drill hole, DD_REF_043, intersected a 12m zone of quartz-pyrite-arsenopyrite in the hanging wall, with a 1m quartz vein from 31m to 32m @ 3.86 g.t Au.   A legacy drill hole intercepted the southern lode at 33m downhole, with 1m @ 24g/t Au followed by 1m @ 2.5g/t Au1. Mapping has recorded historical waste samples up to 32.0g/t Au in the vicinity, and a strong soil anomaly enveloping the vein (up to 410ppb Au).

Murray Creek – RUA GOLD reports the completion of the first hole testing the down-dip extension of the Victoria lode, DD_VIC_041, which is being evaluated by the team. This intersected the targeted reef at 344m down hole and encountered historical underground workings over a 4m length. It then exited out to the footwall before drilling on for an additional 20m.

This confirms that the lode extension is accurate and, with the precise location confirmed, a second hole is underway that is 50m deeper down dip from the initial drill hole. The Company anticipates an intersection into an un-mined portion of the reef at around 350m. Results from this testing will be available in the coming weeks.    CONTINUED Read this full press release and more news for RUA GOLD at:   https://www.financialnewsmedia.com/news-rua/

Other recent developments in the mining industry of note include:

Mawson Gold Limited (OTCPK: MWSNF) recently announced that further to its news releases dated June 10, 2024 and July 30, 2024, Mawson has entered into an arrangement agreement (the “Arrangement Agreement”) with SUA Holdings Ltd. (“SUA”), a newly formed wholly-owned subsidiary of Mawson, pursuant to which the Company proposes to spin-out its uranium assets in Sweden (the “Uranium Assets”) to SUA in consideration for common shares of SUA (“SUA Common Shares”) and distribute 100% of the SUA Common Shares it then holds to the Mawson shareholders on a pro rata basis. As a result, following completion of the Arrangement, the Mawson shareholders (other than any dissenting shareholders) will also become shareholders of SUA and SUA will no longer be a subsidiary of Mawson.

In connection with the Arrangement, Mawson has subscribed for additional SUA Common Shares for aggregate consideration of $600,000 to provide working capital to SUA. Such additional SUA Common Shares will also be distributed to the Mawson shareholders under the Arrangement.

Founders Metals Inc. (OTCQX: FDMIF) recently announced that, further to the press release dated October 10, 2024, it has entered into an agreement with B2Gold Corp (“B2Gold”) for a C$12.1 million investment (the “Strategic Investment”) at a price of C$2.75 per common share (each, a “Share”). Together with the previously announced bought deal private placement of C$20M (the “Brokered Offering”), the Company will raise a total of C$32.1 million, fully funding the planned 2025 budget. Upon completion of the Strategic Investment and the Brokered Offering, B2Gold will own 5.0% of the Company’s issued and outstanding common shares on a non-diluted basis.

Colin Padget, Founders’ President & CEO commented, “We are very pleased with B2Gold’s investment in Founders along with the support and validation it brings to our Antino Gold Project. We look forward to drawing on B2Gold’s experience in exploring for, and developing, world-class mining assets in similar geological environments. This broader financing package leaves Founders well positioned to ramp up exploration at Antino, fully funding our planned 2025 exploration budget and the near-term addition of a fourth diamond drill.”

SNOWLINE GOLD CORP (OTCQB: SNWGF) (TSX-V: SGD) recently announced additional analytical results from its 2024 Valley deposit drilling campaign on the Rogue Project in Canada’s Yukon Territory alongside updates on its regional activities. Holes V-24-081 and V-24-084 returned strong, consistent gold grades from near-surface along the southwestern edge of the Valley deposit, outperforming the model used for the Company’s initial mineral resource estimate (MRE) earlier this year. In addition, Snowline has completed the first phase of a reclamation program at the Plata mining camp near the Rogue Project, organizing and inventorying debris and abandoned equipment from historical mining activities in the region for future demobilisation. The Company awaits analytical results from the majority of its 2024 exploration campaign, including >24,600 m of drilling in 44 holes across 5 different targets.

“It is a testament to the consistency of mineralization at Valley that results like today’s have become almost commonplace,” said Scott Berdahl, CEO & Director of Snowline. “Nonetheless, they further demonstrate the strength of the system near surface, and key holes V-24-081 and V-24-084 outperform our model along the southwest margin of the deposit.

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) recently announced that it has filed an updated technical report for the Detour Lake mine in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The technical report is available on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.agnicoeagle.com).   Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico.

About FN Media Group:

At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #pressrelease #tickertaggingpressreleases

Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated forty nine hundred dollars for news coverage of the current press releases issued by RUA GOLD Inc. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:

Media Contact
email: editor@financialnewsmedia.com
+1(561)325-8757 

SOURCE: FN Media Group