Gold News

Continental Gold announces $175 million in financing from Newmont, Triple Flag, stock surges

Continental Gold’s (TSX:CNL; OTCQX:CGOOF) shares surged over 11% on Friday, the same day the Toronto- based miner announced that it obtained a $175 million financing package backed by Newmont and Triple Flag Mining Finance.

The package includes a $50 million debenture from Newmont, and a $100 million gold and silver stream from Triple Flag . Each of the debentures will be convertible at the holder’s option into common shares of the company at a conversion price of C$3.00 per share, representing a 27.1% premium to the 30-day volume weighted average share price on the TSX.

Spanish Mountain Gold’s BC project passes archaeological test

Spanish Mountain Gold (TSXV: SPA) is one step closer to developing its namesake project in British Columbia following the acceptance by local First Nations of the results of an independent archaeological impact assessment.
In a press release, Spanish Mountain said the survey found the investigated area to have sustained previous disturbance through extensive forestry-related and placer mining activities. Thus, no remains or artifacts are expected to be found there.
The Archaeological Impact Assessment included a desktop review, and vehicle and pedestrian surveys.

Kirkland Lake Gold sets 2019 production guidance at a million ounces

Canada’s Kirkland Lake Gold (TSX. NYSE: KL) announced today that management increased its consolidated three-year production guidance and improved its unit-cost guidance for 2019.
In a press release, the miner said that there is potential for a million ounces in 2019 as guidance was increased to 920,000 – 1,000,000 ounces from the previously announced 740,000 – 800,000 ounces.
For next year, Kirkland Lake said guidance would be 930,000 – 1,010,000 ounces and for 2021 995,000 – 1,055,000 ounces.

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Gold is money. Gold has been money for thousands of years. And one of the reasons gold is money is because it’s immutable. That’s just a fancy way of saying it can’t be changed or destroyed. Aristotle listed four characteristics of sound money: it must be durable, portable, divisible, and have intrinsic value.

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