Gold towards 2,000 US dollar
Mark Learmonth, Chief Financial Officer and Director of Caledonia Mining recently commented on the gold price in a webinar. He believes a price of 2,000 US dollars is quite possible. But he does not want to see 4,000 US dollars, because "what would the world look like then", said Learmonth, "what catastrophes would befall us “.
Caledonia Mining is on a successful path in Zimbabwe with its Blanket gold mine, in which the company has a 64 percent stake, in a not easy country, as Learmonth explained, but good land for gold mining. The participation of local investors strengthens the position of Caledonia in Zimbabwe. Dividends have been paid since 2012. At the end of April, Caledonia Mining had more than 14 million US dollars in the cash box. Gold production is to be increased from around 75,000 ounces in 2021 to 80,000 ounces in 2022.
In fact, gold is already striving towards 2,000 US dollars. Recently, the price of gold broke through the USD 1,770 mark per troy ounce. All companies with gold projects benefit from this.
OceanaGold also belongs to this circle. Just like Caledonia Mining, they are among the companies already producing: https://www.commodity-tv.com/play/caledonia-mining-virtual-roadshow-investor-presentation-and-qa/. The medium-sized company owns the Didipio gold-copper mine in the Philippines and the Waihi and Macraes gold mines in New Zealand. In addition, there is the Haile gold mine in South Carolina. For 2020, OceanaGold expects a total gold production of an estimated 360,000 to 380,000 ounces: https://www.commodity-tv.com/play/newsflash-with-vizsla-resources-oceana-gold-goldmining-endeavour-silver/.
With the gold price at its highest level since October 2012 (USD 1,775 per ounce), gold investments in any portfolio should not be missing. Because the fear of Corona 2.0 after the rising numbers of new infections worldwide continues. Further growth in the money supply and more debt should give the price of gold a further boost.
Latest company information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/) and OceanaGold (https://www.resource-capital.ch/en/companies/oceanagold-corp/).
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