VIDEO SUMMARY: BOGO.v CEO on Strong Initial Gold Production Gold prices have been soaring, driven by Federal Reserve rate cuts and heightened geopolitical tensions, making it a top-performing asset this year. Prices have risen over 32% in 2024, recently reaching a new ATH of $2,742 per ounce, with potential to exceed $3,000 by year-end.
https://www.markets.com/news/gold-performance-2024-and-how-much-will-gold-price-increase-in-q4/
As gold maintains its role as a safe-haven asset, this bullish environment has boosted investor interest in gold companies like Borealis Mining (Ticker: BOGO.v) which are working to meet future demand.
Borealis Mining's CEO Kelly Malcolm recenlty highlighted Borealis' initial successes at its past-producing Borealis Gold Project and strategy moving forward, emphasizing its focus on production-backed exploration.
Full interview: https://youtu.be/0QCUBZ3WeAw
Key points from the interview include:
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Exploration Strategy: The Borealis Project has the potential for both oxide and sulfide gold targets. BOGO's focus will be on near-surface oxide deposits for quicker, cost-effective production, while long-term exploration aims to discover deeper sulfide systems.
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Infrastructure Advantage: Borealis benefits from fully built, permitted infrastructure, reducing capex compared to many peers. The site is also conveniently located near a town in Nevada, enhancing logistics.
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Growth Plans: Malcolm emphasized the company's goal to build a sustainable mining company through strategic drilling, non-dilutive funding, and potential acquisitions in Nevada. Backed by notable investors Eric Sprott and Rob McEwen, Borealis aims to fill the mid-tier gap left in the sector.
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Initial Gold Production: In its first gold pour of 2024, Borealis produced 650 ounces of dor gold/silver bars, with about 20% gold content, generating $550,000 USD in non-dilutive revenue. The production came from residual leaching of previously treated material. The company expects even higher yields from untreated ore.
Since the interview, Borealis Mining completed its second gold pour of 2024, producing 1,625 troy ounces of dor, including 229 troy ounces of gold and 162 troy ounces of silver.
This marks the end of residual leaching, with future pours expected to yield higher gold content from previously unleached ore.
Full news: https://borealismining.com/2024/10/borealis-completes-second-gold-pour-of-2024-and-lists-on-frankfurt-stock-exchange/
Posted on behalf of Borealis Mining Company Ltd.