NEW YORK, February 17, 2017 /PRNewswire/ --
Despite pressure from a stronger dollar and Fed Chair Janet Yellen's hawkish comments this
week, investors still consider the yellow metal as a good hedge against political uncertainty over the new U.S. administration
and elections in the Netherlands, France and Germany this year. Janet Yellen on Tuesday said a rate hike is on the table
and delaying rate increase could leave the Fed's policymaking committee behind the curve, sending the U.S. dollar to a one-month
high. Gold price was under pressure as a stronger dollar makes gold more expensive for holders of other currencies. The dollar
erased its gains later as investors took profit. Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM), Yamana Gold Inc.
(NYSE: AUY), IAMGOLD Corp. (NYSE: IAG), Eldorado Gold Corp. (NYSE: EGO), Pretium Resources Inc. (NYSE: PVG)
Jens Pedersen at Danske Bank said it in a note: "It's a tug of war between a higher probability
of U.S. rate hike in March and upcoming elections around Europe which are creating uncertainty
and demand for safe assets." CNBC reported. Despite soaring U.S. equities and a stronger dollar, gold is managing to hold its
ground as dips are being bought," INTL FCStone's Edward Meir said in a note. In addition
Expectation for faster growth inflation in the U.S. also boosts the demand of Gold, due to its enduring value.
Yesterday Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM) announced, "It has completed the acquisition of
Kettle River Resources Ltd. (KRR) with New Nadina Explorations Ltd. (TSX VENTURE: NNA). The KRR assets include the Greenwood
Area Properties (GAP), with mineral claims totaling 11,000 ha., covering 78 mineral showings, including 29 historic
metal mines. Golden Dawn has acquired this property through the acquisition of Kettle River
Resources Ltd., a wholly-owned subsidiary of New Nadina Explorations Limited.
Golden Dawn and New Nadina Explorations Limited signed a Letter of Intent regarding this
transaction which includes the mineral property assets (See news release Oct. 18, 2016).
Consideration for the acquisition consisted of a non-refundable deposit of $80,000 on signing the
LOI, $15,000 by November 26, 2016, and on closure cash payments
totaling CAD$1,010,000 (inclusive of deposits and closing extension fee of $10,000), as well as 2,222,250 shares of the Company issued at $.27 which are
subject to a 4 month and one day hold period. The properties are subject to a 1% NSR where the Company can purchase a 0.5% for
$1,000,000 up to five years and thereafter $1,200,000 up to 10 years
leaving a 0.5% NSR payable to New Nadina."
The Greenwood Area Property lies in southern B.C. near Provincial Highway 3 between Rock Creek to the west and Grand Forks to
the east. It lies in the Boundary Falls area, of the Greenwood Mining Division, to the South, East and West of the City of
Greenwood. The Property is comprised of 57 Crown Granted claims with sub-surface mineral rights covering 814.3 hectares, 24 Crown
Granted claims with surface and sub-surface rights covering 277.4 hectares, and 51 mineral tenure claims with subsurface rights
covering 10,263 hectares. The area covered by the various claim types exceeds 11,000 hectares.
Yamana Gold Inc. (NYSE: AUY) is a Canadian-based gold producer with significant gold production, gold development stage
properties, exploration properties, and land positions throughout
the Americas including Canada, Brazil, Chile and Argentina. On Feb.14, 2017, Yamana provides
an update on the exploration programs at its El Peñón, Minera Florida, Gualcamayo and Chapada
properties. The Company believes that 2017 will be a year of transition at El Peñón with the available wide and high grade veins
being replaced by numerous high grade yet narrower vein systems. During this transition, production will be reduced from recent
levels, although over a longer term at a more sustainable level. The Company also expects that all-in sustaining cash costs will
improve to lower levels as much of the future production is near existing infrastructure requiring less development capital.
IAMGOLD Corp. (NYSE: IAG) is a mid-tier mining company with four operating gold mines on three continents.
IAMGOLD is in a strong financial position with extensive management and operational expertise. On Feb
13, 2007, IAMGOLD provided an update from its initial exploration program at the Saramacca project located 25 kilometres
southwest of its Rosebel Gold Mine ('RGM'), in Suriname. The company is reporting final assay results from the 2016
drilling program comprising approximately 14,600 metres from 67 diamond drill holes and 4,500 metres from 37 reverse circulation
('RC') drill holes.
Eldorado Gold Corp. (NYSE: EGO) is a leading low cost gold producer with mining, development and exploration operations
in Turkey, Greece, Romania, Serbia and Brazil. Recently, Eldorado announced the Company's 2016
operating results and preliminary cash costs, and provided production and cash cost guidance for 2017. Paul Wright, the President and Chief Executive Officer, said: "I am very pleased to report the close of a
successful 2016, a transitional year for Eldorado. With the sale of the Chinese assets now complete, our development projects
in Greece progressing on schedule, and a capital plan that now reflects the lower gold price environment, I am
confident that the next three years will be transformational for the Company."
Pretium Resources Inc. (NYSE:PVG) is constructing the high-grade underground Brucejack gold mine in
northern British Columbia with commercial production targeted for 2017. Recently, the company reported the acceleration
of commissioning of the Brucejack Mine with dry commissioning now scheduled to commence in March and wet commissioning
scheduled to commence in early April. In addition, an updated forecast of the capital cost to complete construction of
the Brucejack Mine has been completed. The capital cost, including working capital, is now estimated to
be US$811.1 million, an increase of 16% from the February 2016 capital cost estimate.
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