Another great gold read !! ESM seems to fit the narrative ! Missed the gold rally? Gold mining stocks are still undervalued as gold price trades above $1,950 - VanEck
Kitco news
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Higher gold prices will also trigger new low-quality gold mines being built, such as IAMGOLD's (IAG) Cote Lake project — a 6.6 million ounce low-grade gold deposit in Ontario, Canada.
“These are deposits that were not economic at lower prices because they would have high operating costs and/or high capital costs due to low grades and/or mining challenges … On July 21, 2020, IAMGOLD announced it will proceed with construction, raising its gold price assumption from $1,250 to $1,350 in order to justify its decision. A handful of other companies have also boosted their project price assumptions to as much as $1,541 per ounce … There are also a growing number of junior companies that are now able raise money to develop low-quality gold deposits,” VanEck said.