Gold Continues to Hit ATHs Gold surged to a record high of $2,748.36 an ounce, driven by heightened haven demand due to the approaching U.S. election and escalating conflict in the Middle East. Silver also rallied, nearing $35 an ounce, marking its sixth consecutive gain.
Robust central-bank buying and expectations of U.S. interest rate cuts have fueled gold’s 33% rise this year. Investors are increasingly betting on a Republican victory, adding to the market’s momentum. Analysts at Citigroup raised their gold price forecast to $2,800 amid concerns over labor market weakness, while money managers continue to boost their positions in both gold and silver. (Source: https://www.mining.com/web/gold-price-climbs-to-a-fresh-record-as-geopolitics-drive-haven-demand/)
Near-term gold junior Borealis Mining (BOGO.v) is strongly positioned amid this opportunity in aiming to increase its gold production to over 100,000 ounces annually from the Borealis Gold Mine.
Notably, the Mine has already produced over 600,000 ounces of gold, and is supported by infrastructure that facilitates both current and future operations.
Having recently achieved its second gold pour of the year, BOGO is focused on resuming mining activities to generate cash flow, prioritizing this over dilution before expanding the project's resources further
For more information, refer to this deep dive: https://www.reddit.com/r/smallstreetbets/comments/1g5cxfy/cash_flow_over_dilution_nearterm_gold_junior/
Posted on Behalf of Borealis Mining Company Ltd.