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Mining needs oil

Oil is more expensive than it has been for a long time. Mining companies also need oil

The current high oil price of over 80 US dollars per barrel is heating up inflation. And it increases the costs of gold mine operators. This is because they usually need large quantities of diesel for their trucks and generators. This could lead to a certain cost pressure, which would also drive the gold price upwards, as it is important to cushion an otherwise stronger decline in gold production.

For companies that are still under construction, the high oil prices are not so serious, because they do not yet need as much oil as active mines. A high oil price should also increase inflation anyway, which will benefit gold as a value-preserving medium.

The oil price in North America is significantly lower than in Europe. There are also regions in North America where the oil can be obtained again at a discount to the WTI oil price. The reason lies in the low transport capacities there to the refineries. Mining companies in North America should therefore not suffer as much from high oil prices as elsewhere in the world.

Gold companies operating in North America include Maple Gold Mines and Auryn Resources. Maple Gold Mines - https://www.commodity-tv.net/c/search_adv/?v=298484 - is just drilling its 370 square kilometer Douay Gold project in northern Quebec, located in the Abitibi Greenstone Belt. The Company plans to expand its previously identified resource of 3.2 million ounces of gold to five million ounces of gold.

Auryn Resources - https://www.commodity-tv.net/c/search_adv/?v=298585 - owns properties in Nunavut, the Committee Bay and Gibson MacQuoid gold projects, and the Homestarke Ridge gold project in British Columbia. In addition, there is the Sombrero gold-copper project in Peru.

Current corporate information and news releases from Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd.html) and Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc.html).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the English version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: www.resource-capital.ch/en/disclaimer.html

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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