It is explored vigorously
10.1 billion US dollars were spent on exploration in 2018. Young exploration companies in particular increased their budgets by 35 percent. In 2018, the budget for gold miners rose to 4.86 billion US dollars.
Whereas in 2016 about 7.3 billion US dollars were spent on the search for non-ferrous metals, in 2017 the figure was already about 8.4 billion US dollars. After four years of decline, exploration spending increased again for the first time in 2016.
By the way, the record high was 21.5 billion US dollars in 2012, with investments in cobalt and lithium projects rising particularly, by 82 percent this year alone. Exploration expenditures for base metals increased by more than $600 million to $3.04 billion in 2018.
Overall, support for young exploration companies has improved and the number and volume of financing completed has increased. Nevertheless, exploration efforts are still below their highs from 2010 to 2012.
Geographically, Canada was the first country to research non-ferrous metals, and most of the money was spent here. Second comes Australia, then the USA. Improved market conditions and stronger metal prices are therefore attracting more investors again.
Auryn Resources - https://www.commodity-tv.net/c/search_adv/?v=298762 - is one of the junior exploration companies with a considerable portfolio of projects. Of the gold projects in Peru, British Columbia and Nunavut, the Sombrero project in Peru is developing particularly well. Several large targets have just been identified under the gold-copper surface mineralization.
In Mongolia, Steppe Gold - https://www.commodity-tv.net/c/search_adv/?v=298735 - is making good progress with its ATO project and the first gold pouring is scheduled for 2019. Gold and silver streaming agreements are already in place and the construction of the ATO project is fully funded.
Current corporate information and news releases from Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc.html) and Steppe Gold (https://www.resource-capital.ch/en/companies/steppe-gold-ltd.html).
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