Jump to content

African Gold Stocks


flower
 Share

Recommended Posts

wasn't the "land of upright people (warriors?)" a hot spot for gold, with AU companies seeking Au, there?
The Peace Corps evacuated all of its volunteers from Burkina Faso because of security concerns, according to a statement on its website. The organization had 124 volunteers in the West African nation, who were involved in economic development, education and health projects, it said in the Sept. 3 statement. While the Peace Corps didn't specify what the security concerns were, there's been an increase in militant attacks this year.
Link to comment
Share on other sites

  • 1 month later...
  • Replies 22
  • Created
  • Last Reply

Top Posters In This Topic

NEWS: $NXS.V $NXXGF Nexus Gold Successfully Drills Gold

 

Highlights:

 

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Nine of 10 holes from maiden drill program at Bouboulou intersected gold

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ 4.41 g/t Au over 8.15m, including 23 g/t Au over 1m at Bouboulou

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ 5.21 g/t Au over 3.05m, including 15.5 g/t Au over 1m at Bouboulou

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ 1.04 g/t Au over 23m, including 4.1 g/t over 1m at Bouboulou

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ 1.23 g/t Au over 9m, 1.1 g/t Au over 4m at Niangouela

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Sampling as high as 17.3 g/t Au at newly acquired Rakounga concession

 

For the complete news release visit the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s website www.nexusgoldcorp.com

 

 

Link to comment
Share on other sites

  • 3 years later...

The Chairman/CEO of Evolution Mining, Jake Klein has warned that the ground is shifting for OZ exploration companies looking to expand in other countries (including in Africa).

From Todays OZ

The global gold sector may have to rethink its production strategy as China’s influence in Africa grows and as the cost of complying with environmental, social and governance standards demanded by major investors increases, according to Evolution Mining executive chairman Jake Klein.

 

Speaking at Evolution’s annual shareholder meeting on Thursday, Mr Klein warned that the coronavirus crisis was exacerbating the rise of resources nationalism across the developing world, and forcing greater competition for access to gold deposits in Africa and Asia as China flexed its muscles.

 

“The past playbook of gold companies looking to expand their business has been to seek this growth in developing countries, places where the geology is considered prospective and underexplored, and where labour costs are cheap. This was often a successful strategy in an orderly world,†Mr Klein said.

 

“Today, an investor must consider not only the discontent and instability that has been exacerbated by the COVID-19 pandemic in many developing countries, but also the growing influence of China, both at a government level and as a competitor at a corporate level, particularly in Africa.â€

 

Mr Klein’s comments come against the backdrop of trade tensions between Australia and China that has led to a standstill on coal exports, and as China looks to take the lead in developing the so-called “Pilbara killer†Simandou iron ore deposit in Guinea.

 

Chinese gold producers have also taken a keen interest in African gold deposits developed by ASX-listed companies, with a takeover battle over ASX-listed Cardinal Resources and its gold projects in Ghana playing out between China’s Shandong Gold and Russia’s Nordgold.“And in that same time it has been developing its own champions of the mining industry, Chinese companies that are now competitive with their peers from other countries — Australia, the US and Canada.â€

 

China’s lending to African ­nations — worth about $US150bn in 2018, according to researchers at Johns Hopkins University, or just over 20 per cent of Africa’s total government borrowings — had helped strengthen those ties, Mr Klein said, with Chinese companies now in a far stronger position to compete with the legion of Australian companies looking to develop the continent’s mineral deposits.

 

“They have good access to government influence, they’re competitive on the ground, and they have good access to capital,†Mr Klein said.

 

“So to me, one of the implications for a gold investor is you need to start thinking about country risk much more than you may have in the past, because you either have to apply a bigger premium to safer jurisdictions — like Australia and Canada — or a larger discount to developing countries where there may be unforeseen interference.â€

 

Combined with the difficulty in finding new gold deposits in more stable jurisdictions, and increased pressure from major shareholders to respect the rights of traditional owners and on environmental issues, rising global instability could force gold majors to rethink their long-term production strategy, Mr Klein said.

 

“The focus on ESG issues is rapidly increasing and I think the industry’s response is pivotal to its long-term future,†he said.

 

“If you overlay this onto the reality that making major new gold discoveries is becoming increasingly challenging, and gold mines are becoming more expensive to build and operate, in our view the solution should be a sector that is accepting that its future may be best served by producing fewer ounces with a focus on quality rather than quantity.

 

“Avoiding these risks is at the core of Evolution’s decision to exclusively focus on the tier-one jurisdictions of Australia and Canada, where the rule of law can be relied on.â€

 

Mr Klein told The Australian he had no doubt stable jurisdictions such as Canada and Australia would become steadily more expensive to operate in, partly as a result of the demands of institutional investors for sustainable production.

I will start looking at my gold portfolio and reduce some of the co's that are relying on overseas mines. particularly Africa.

 

Mick

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...