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Bank of America Says Gold Could Reach $2,500

Wednesday, April 12, 2023 10:33 AM | Baystreet via QuoteMedia

Bank of America Says Gold Could Reach $2,500

Gold stocks are pushing higher. Last checked, the metal was up another $11 to $2,003.57, and could see higher highs. Helping, “The biggest banking crisis since the Great Financial Crisis of 2008 prompted investors to flee into gold last month, ending ten consecutive months of outflows, according to the latest report from the World Gold Council,” as noted by “In its monthly ETF report, the WGC said 32 tonnes of precious metal, worth $1.9 billion, flowed in global gold-backed exchange-traded products in March.” In addition, Bank of America says gold’s rally to its “all-time high of $2,078 could signal the start of a two-year bull run, which could push prices above $2,500 an ounce,” as also noted by That’s all positive news for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) , Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K), and B2Gold (NYSE: BTG) (TSX: BTO).

Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example

Calibre Mining Corp . announced additional drill results from its second phase diamond drill program at its 100% owned Golden Eagle Project, USA. Drill results from the three holes across the property confirm additional broad intervals of gold mineralization consistent with the previously reported Phase One drill results. The Company has commenced work on a detailed and modern metallurgical program which will explore for future gold extraction potential and recovery methods and build upon previous metallurgical work. Studies are underway and results are expected in the second half of 2023.

New Phase Two drill results from the Golden Eagle program include:

- 2.98 g/t Au over 87.17 metres in Hole GEC22-002;

- 2.27 g/t Au over 47.55 metres and 3.70 g/t Au over 48.55 metres and 3.29 g/t Au over 26.82 metres in Hole GEC22-004;

- 3.36 g/t Au over 37.80 metres in Hole GEC22-005.

Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths.

Phase One drill results (see news release dated January 24, 2023 ):

- 4.30 g/t Au over 92.42 metres, including 7.80 g/t Au over 17.3 metres in Hole GEC22-001;

- 2.90 g/t Au over 195.1 metres in Hole GEC22-003;

- 2.38 g/t Au over 114.3 metres; 2.66 g/t Au over 19.8 metres and 2.65 g/t Au over 25.7 metres in hole GEC22-006.

Darren Hall, President, and Chief Executive Officer of Calibre stated : “Today’s drill results from Golden Eagle confirm consistent gold mineralization over broad widths, reinforcing the potential of this two million ounce Mineral Resource. Given the exceptional results from all drill holes, we have commenced a comprehensive metallurgical program which will assist in advancing additional technical studies. Golden Eagle is a key US asset and a meaningful contributor to the Company’s overall Mineral Resource and, as such, we are excited to unlock additional upside from the project.”

Other related developments from around the markets include:

Barrick Gold Corporation will release its Q1 2023 results on Wednesday, May 3, 2023. President and CEO Mark Bristow will host a live presentation of the results that day at 11:00 EDT, with an interactive webinar linked to a conference call. Participants will be able to ask questions. The company will release its preliminary production, sales and cost information for Q1 2023 on April 13, 2023.

Newmont Corporation submitted a revised non-binding indicative proposal to the Board of Directors of Newcrest Mining Limited (Newcrest) to acquire 100 percent of the issued share capital of Newcrest by way of an Australian Scheme of Arrangement, under which Newcrest shareholders would receive 0.400x Newmont shares per each Newcrest share held. In addition, Newcrest would have the right to fund and pay to its shareholders a special dividend of up to USD$1.10 per Newcrest share. Newmont’s improved offer on these terms is best and final, subject only to no superior proposal emerging.

Kinross Gold Corporation will release its financial statements and operating results for the first quarter of 2023 on Tuesday, May 9, 2023, after market close. On Wednesday, May 10, 2023, at 7:45 a.m. EDT Kinross will hold a conference call and audio webcast to discuss the results, followed by a question-and-answer session.

B2Gold and Sabina Gold & Silver announced that the parties have entered into a definitive agreement pursuant to which B2Gold has agreed to acquire all of the issued and outstanding shares of Sabina. The Transaction will result in B2Gold acquiring Sabina’s 100% owned Back River Gold District located in Nunavut, Canada. The Back River Gold District consists of five mineral claims blocks along an 80 kilometre belt. The most advanced project in the district, Goose, is fully permitted, construction ready, and has been de-risked with significant infrastructure currently in place. B2Gold has strong northern construction expertise and experience to deliver the fully permitted Goose project and the financial resources to develop the significant gold resource endowment at the Back River Gold District into a large, long life mining complex.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Calibre Mining Corp. by Calibre Mining Corp. We own ZERO shares of Calibre Mining Corp. Please click here for disclaimer.


Ty Hoffer
Winning Media

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