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50-year chart shows how cheap gold price still is relative to stocks

The gold price was drifting sideways on Thursday, down some $50 an ounce from a brief (but glorious) near seven-year intraday high above $1,600 an ounce a fortnight ago.

But the metal remains firmly in a bull market with a 20%-plus rise over the past year. Go back 20 years, and the rally is even more spectacular considering at the turn of the century gold was trading for a relative pittance of $270 an ounce.

AngloGold restarts Obuasi mine after five years of closure

South Africa’s AngloGold Ashanti (NYSE:AU) (JSE:ANG), the world’s third-largest producer of the precious metal, has poured first gold at its Obuasi mine in Ghana, five years after mining activities were suspended.

The company, which seeks to access Obuasi’s 30-million-ounce ore body over the next two decades and beyond, said that following a ramp up period, the mine will generate 2,000 tonnes a day during 2020.

Company expects its gold mine in Ghana to produce between 350,000 and 400,000 ounces per year for the first ten years.

Maverix closes on Kinross Gold royalty portfolio acquisition

Maverix Metals (NYSE & TSX: MMX) announced Thursday that is has completed the previously announced acquisition of a portfolio of over 20 precious metals royalties from Kinross Gold (TSE: K).

As consideration for the Transaction, Maverix has issued 11.2 million common shares and made a cash payment of $25 million to Kinross.

The transaction grants gold-focused Maverix access to output from  Integra Resources’ DeLamar project in Idaho, Polymetal’s Omolon Hub operations in Russia, Barrick Gold and Newmont Goldcorp’s Cerro Casale project in Chile, Premier Gold Mines’ McCoy Cove project in Nevada, Agnico Eagle’s Hammond Reef project in Ontario, and a number of early stage development and exploration projects.

Global Snapshot: Gold and silver exploration projects to watch

With the rise in the price of gold over the past year, precious metals exploration has picked up steam worldwide. Below we feature eight companies across the exploration, development and production spectrum that maintain a focus on discovery.

Compass Gold

Compass Gold (TSXV: CVB; US-OTC: COGDF) is focused on the Farabakoura gold discovery in southern Mali. The company wholly owns the 850-sq.-km Sikasso project consisting of nine permits within the Birimian gold belt.

Gold rush in Canada’s Nova Scotia unearths opportunities and criticism

While the Canadian province of Nova Scotia has been
attracting local and international companies lured by its untouched gold riches and the easy access to most assets, located nearby existing highways, some groups warn of potential impacts to watersheds and communities.

“Nova Scotia has a golden opportunity to create jobs in gold mining,” Sean Kirby, executive director of the Mining Association of Nova Scotia (MANS) said while opening an industry conference last week.

Doing due diligence: What to know before investing in a mining junior

For the past several years one of the biggest challenges facing junior mining companies has been raising initial capital. Investors are wary, and are doing due diligence before injecting funds into projects spearheaded by junior explorers that are going after mineral deposits disregarded by the majors, who typically invest in PEA-evaluated, high-grade projects with
a nearly guaranteed rate of return.

But junior explorers going into uncharted territory are on the map – and making a mark, especially in the gold and copper sectors.

Global gold-backed ETFs holdings at record high, new data shows

Global gold-backed ETFs reached their highest levels of all-time in the month of September, adding 75.2 tonnes in September to a total of 2,808 tonnes, according to new data from the World Gold Council.

Against a backdrop of easy money monetary policy by global central banks, continued geopolitical uncertainty including the looming Brexit deadline and tensions in the Middle East – as well as rising turmoil in Congress – global gold demand remained strong through the month.