NEW YORK, May 15, 2017 /PRNewswire/ --
Gold price rallied for a second straight session last Friday after the price hit an eight-week low of $1,213.81 an ounce earlier in the week. The U.S. president's unexpected decision to fire the now former FBI
director continued to weigh on the market. Investors are concerned that the latest events could delay the presidential
administration's agenda to implement a tax reform. Spot gold, rose 0.24 percent to $1,228.01 an
ounce on Friday, after a 0.5 percent advance on Thursday. Gold price has gained a total of 7 percent year-to-date. Kenadyr Mining
Holdings Corp. (OTC: KNDYF) (TSX-V: KEN), Golden Star Resources Ltd. (NYSE: GSS), Gold Fields Limited (NYSE: GFI), Asanko Gold
Inc. (NYSE: AKG), NovaGold Resources Inc. (NYSE: NG)
Investors are also closely watching indicators that affect the Federal Reserve's decision on the interest rate next month.
Gold is highly sensitive to the changes in U.S. interest rates as they increase the opportunity cost of holding non-yielding
bullion. The consumer price index rose by 0.2 percent in April and increased by 2.2 percent over the past 12 months. This pace is
slower than economists' expectation of a 2.3 percent advance. The Federal Reserve has an inflation target of approximately 2
percent, with an increase of the borrowing cost by 25 base points in March. Investors are expecting two more rate hikes this
year.
Kenadyr Mining Holdings Corp. (OTC: KNDYF) (TSX-V: KEN) announced today that, "Drilling has commenced on the South Zone
of Kenadyr's 100% owned Borubai License, Kyrgyz Republic... The South Zone is open in three
directions and to depth and drilling in this zone has the potential to see increased grade of the mineralization (from historic
numbers) as a result of increased core recovery (core recovery during Soviet drilling averaged only 60% recovery) and the use of
Fire Assay versus ICP analysis techniques (which were predominately used during Soviet assaying).
Kenadyr is in a strong position to embark on this upcoming program, having a strong balance sheet, no debt nor significant
payments owing, a strong institutional shareholder base and a management team with extensive in-country operational experience,
and merger and acquisition expertise."
Dr. Alexander Becker, Kenadyr Chief Executive Officer, states, "Drilling has now commenced,
ahead of schedule and this is a testament to the team's strong efforts in the field along with the efficiency of QED, the drill
contractor. The South Zone is a high priority area for Kenadyr with excellent underlying geology. It is open and strongly
mineralized at the extent of drilling, according to historical results, and we look forward to retesting this area, to confirm
the high grade results reported from previous drilling."
Kenadyr's Borubai project comprises a 100-percent-owned exploration licence covering a contiguous 164-square-kilometre land
package that encircles the Zijin/Kyrgyz/Altyn newly constructed and operational TBL mine, in northern Kyrgyz Republic.
Golden Star Resources Ltd. (NYSE: GSS) on April 3rd announced a project update for its
Prestea Underground Gold Mine, Mampon deposit and Wassa Underground Gold Mine in Ghana. The Company also announces that it
is hosting a site visit for analysts, investors and journalists at its two mines. "Golden Star
continues to reach its key milestones, on time and on budget. Exciting progress is being made at Prestea Underground and I look
forward to blasting the first stoping ore later this quarter. At Mampon, commencing mining within the expected time frame is
testament to the hard work of our team in Ghana and their strong relationship with local
communities. Finally, operations at Wassa Underground are progressing as planned and it is pleasing that we have now begun
accessing the B Shoot, which is the main target of the Wassa Underground development. Our transformation into a low cost, high
grade, mid-tier producer remains well on track," commented Sam
Coetzer, President and Chief Executive Officer of Golden Star.
Gold Fields Limited (NYSE: GFI) on March 2nd revealed that it was the nation's largest corporate taxpayer in 2016,
according to the Ghana Revenue Authority (GRA). The GRA recognised Gold Fields at an awards function held a couple of weeks ago.
Gold Fields contributed GHS355m (US$75m) directly through royalty and corporate income tax
payments, and an additional GHS146m (US$31m) through employees' Pay As You Earn (PAYE), as well as
tax payments on behalf of its local contractors and suppliers. During 2015, GFGL was the country's second largest taxpayer. GRA
commended the company for its performance. "Gold Fields is not only one of the biggest contributors to our tax revenue, but one
of the most compliant companies with payments and filing of taxes. You have consistently been part of the top taxpayers in
Ghana and your contribution to national development in general is significant," the GRA
said.
Asanko Gold Inc. (NYSE: AKG) provided an update on April 27th, in which the Mineral
Resource and Reserve Estimate for the Akwasiso deposit, part of the Asanko Gold Mine located in Ghana, West
Africa, following the successful completion of the infill drilling campaign to upgrade previously reported Inferred Resources
into the Indicated category. Compared to the December 31, 2016 Mineral Resource Estimate ("MRE"), the updated Akwasiso
MRE has increased Indicated Resources by 79% to 6.72 million tonnes at 1.49 g/t for 322,500 contained gold ounces (refer to Table
1). The Resource grades have improved significantly by 24% from 1.20 g/t to 1.49 g/t. The updated MRE has been signed off
by CSA Global (UK) Ltd.
NovaGold Resources Inc. (NYSE: NG) earlier in February released its first quarter financial results and updates for its
flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek
copper-gold-silver project in British Columbia. NOVAGOLD will focus on five primary goals in
2017: advance the Donlin Gold project toward a construction/production decision; continue to enhance the value of the Galore
Creek project; maintain a healthy balance sheet; maintain an effective corporate social responsibility program; and evaluate
opportunities to monetize the value of Galore Creek.
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts
on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company
Interviews. A pioneer in the financially driven digital space, video production and integration of social media,
FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination,
branding, marketing and advertising for third parties for corporate news and original content through our unique media platform
that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial
Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided
[exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into
media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials
for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in
this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information
posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality
and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not
offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and
corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial
newswire and media platform. For this release, FinancialBuzz.com has been compensated up to twenty
thousand dollars for one month of financial news dissemination and pr services by a third party non affiliate for kenadyr
mining holdings corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this
editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon
engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any
compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any
of the information on the editorial or Site or continue to post information about any companies the information contained herein
is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a
recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security.
FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on
this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or
in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent
research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing
this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended
from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase,
hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor.
This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular
security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and
tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions.
We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to
change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not
guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com
For further information:
Media Contact: info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com