Where the gold lives
There are about 920 tons of gold in private hands in Switzerland, not counting the gold of foreign gold owners. The central bank there owns 1,040 tons of the precious metal, according to official figures. With a total of around 230 grams of gold per capita, Switzerland is thus ahead of Germany and France and even ahead of India and China. These figures are based on a study commissioned by the precious metal dealer philoro Schweiz AG.
When asked about the reasons for the accumulation of physical gold, 53 percent of the Swiss state that long-term investments are the main reason. 39 percent name security reasons and 34 percent rely on financial stability. The distribution of gold in the individual countries is of particular interest to those who believe that a global gold standard is possible in the future.
As the CPM Group investment company has calculated, this corresponds to the optimal ratio of a portfolio. The portfolio should contain approximately 20 percent in the form of gold and 20 percent in the form of shares. In the case of gold shares, solid companies with good projects should be selected. Bluestone Resources or Caledonia Mining are examples of such companies.
Bluestone Resources is rather an exotic among gold companies: https://www.commodity-tv.com/play/bluestone-resources-virtual-roadshow-investor-presentation-august-2020/. This is because the company owns a gold (Cerro Blanco) and a geothermal energy project (Mita) in Guatemala. The very good and experienced management wants to bring Cerro Blanco, a gold mine that is already well advanced, to production maturity. According to the feasibility study, a good 900,000 ounces of gold are to be extracted there over 8 years at favourable mining costs. However, the area is far from being exhausted for further gold deposits. The geothermal project could host a 50-megawatt power plant in the future. The electricity could then be used to reduce gold mining costs or be sold.
Caledonia Mining - https://www.commodity-tv.com/play/special-news-with-chart-analysis-on-gold-and-silver-and-mining-news/ - can look forward to an operationally and financially strong first half of 2020 at its Blanket Gold Mine in Zimbabwe. Compared to the same period last year, gold production increased by 12.4 percent to 27,732 ounces of gold. The dividend was increased in July.
Current company information and press releases from Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/) and Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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