Gold mining sector snapshot from SGO Quick snapshot on the gold mining sector that SGO shared on Twitter: https://pages.marketintelligence.spglobal.com/rs/565-BDO-100/images/gold-mining-sector-snapshot-080622-KC.pdf
Highlights:
• Gold project drilling activity lower in April but drill holes up MoM
• Several new discoveries over recent years
• Supply outlook remains robust as producers capitalize
• Gold declines to around $1,800/oz as interest rates increase to rein in inflation
• Gold returns marginally positive as cryptocurrencies exhibit volatility
• Gold outlook positive in the medium term as inflation reined in
As SGO is in the final phase prior to Cerro Caliche Mine construction, they're heading towards production and are on track to achieving its initial goal of 1M ounces in the next year or year and a half with the potential of hitting 2M ounces later on.