PALM BEACH, Fla., April 29, 2021 /PRNewswire/ — The pandemic has spurred an historical rise in the price of gold but investors are wondering “Which way will gold go in 2021?” They are asking can the precious metal ever return to the record $2,000 per ounce level reached in August ,2020? The precious metal hit an all-time high of $2,069.40 per ounce in August 2020, driven by weakness in the value of the US dollar as low interest rates and government economic stimulus during the Covid-19 pandemic sent investors toward precious metals.
Capital.com continued quoting Wenyu Yao, senior commodities strategist at ING bank, who added: “Meanwhile, cryptocurrencies do appear to have stolen gold’s thunder, and it’s particularly true given cryptocurrencies’ possible wider acceptance from institutional investors… Further ahead, should inflation overshoot expectations, this may see risk-conscious investors return to gold.
Mr. Lallas brings over 20 years of progressive experience encompassing financial management, global risk management, procurement, Sarbanes Oxley implementation, and M&A due diligence.
Among his many roles as a senior executive with various junior exploration companies, Mr. Lallas has served as VP Finance of Granada Gold Mines, VP Finance of Calvista Gold Corporation, CFO of Greystar Resources Ltd., CFO of Bell Copper Corporation and CFO of Latin American Minerals, Inc.
In his new role, Mr. Lallas will be instrumental in implementing corporate governance policies with regards to contract procurement, internal controls, disclosure policies and manuals for the Board of Directors.
The Company also recently announced that it has received a technical report prepared in accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon Territory, by Ronald G Simpson, P.Geo.
The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cutoff of 0.30g/t, at a $1,650 gold price.
The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board.
“We achieved major milestones for our priority projects, including surpassing the half-way point at our flagship QB2 copper growth project and moving into the commissioning phase of our Neptune steelmaking coal terminal upgrade.
To date 18 vessels have been loaded using the new outbound system; Our operations continue to be resilient despite ongoing challenges associated with COVID-19, with production in line with plan across our business units and sales meeting our Q1 2021 guidance; Our copper business unit had a strong Q1 2021 with an increase in gross profit before depreciation and amortization of 76% compared to the same period last year, supported by an average realized copper price of US$3.92 per pound and copper production of 71,700 tonnes, in line with plan; Sales of steelmaking coal were 6.2 million tonnes in Q1 2021, with approximately 2 million tonnes sold to Chinese customers based on CFR China prices, which were significantly higher than FOB Australia prices; Teck Coal Limited has resolved Fisheries Act charges in connection with discharges of selenium and calcite from our steelmaking coal operations in the Elk Valley of British Columbia in 2012; The Elkview Saturated Rock Fill was successfully commissioned in Q1 2021, on schedule and below budget.
to mineral reserve estimates as a result of mine plan optimization; Lobo-Marte: Feasibility study is on-track for completion in Q4 2021; Fort Knox Gilmore: First gold ounces were produced from the new heap leach pad in January 2021 and construction was completed on schedule and under budget; and Peak: Commenced drilling program and studies for permitting after acquiring 70% of synergistic, Fort Knox “bolt-on” project in September 2020.
These holes were drilled as part of the Company’s ongoing 200,000mdiamond drill program at its 100%-owned Queensway Project, located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.
Greg Matheson, P.Geo., Chief Operating Officer of New Found, stated: “The intervals of 63.7g/t Au over 8.45m and 16.9g/t over 2.5m in Hole NFGC-21-143 extend the Keats high-grade zone approximately 50m down plunge from the deepest previously reported hole NFGC-21-118, which returned 61.8g/t over 13.7m.
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.