NEW YORK, November 3, 2017 /PRNewswire/ --
Gold price traded higher on Thursday as the Federal Reserve kept interest rates unchanged at the FOMC meeting. Gold Spot rose
0.23 percent to $1,277.64 per ounce during the Thursday trading session. While U.S. Gold future for
December delivery was up 0.04 percent to $1,277.80 per ounce. On Thursday, Federal Reserve board
member Jerome Powell was named to lead the Federal Reserve. His monetary policy may affect the
price of gold. Gold is highly sensitive to the changes in U.S. interest rates as a higher rate will increase the opportunity cost
of holding non-yielding bullion. Capital Economics analyst Simona Gambarini said in a CNBC report:
"Coming closer to the end of the year and two FOMC meetings in a month and half, which could determine the direction of monetary
policy, is what has been keeping gold range bound." Lucky Minerals, Inc. (OTC: LKMNF), Eldorado Gold Corporation (NYSE: EGO),
Gold Standard Ventures Corp. (NYSE: GSV), Asanko Gold Inc (NYSE: AKG), Golden Star Resources Ltd. (NYSE: GSS).
Gold may also benefit from the tax reform in the U.S. According to an article from Kitco, Bart
Melek, head of global commodity strategy at TD Securities in Toronto, said, "The tax plan
being considered in Congress would inflate the nation's budget deficit and expand the debt, and that deterioration in the
nation's fiscal standing is a recipe for higher silver and gold prices." He believes that gold prices could advance 7% by the end
of next year to hit $1360 an ounce.
Lucky Minerals, Inc. (OTCQB: LKMNF) also listed on the TSX Venture Exchange under the ticker symbol "LJ". Announced
breaking news yesterday that it has, "entered into an agreement with Clarus Securities Inc., on behalf of a syndicate of
underwriters (collectively, the "Underwriters"), pursuant to which Clarus Securities has agreed to purchase, on a bought deal
basis, 16,666,900 units (the "Units") of the Company at a price of C$0.15 per Unit (the "Offering
Price") for aggregate gross proceeds to the Company of C$2,500,035 (the "Offering"). Each Unit will
be comprised of one common share of the Company (a "Unit Share") and one common share purchase warrant (each common share
purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a
"Warrant Share") at a price of C$0.20 for a period of 36 months following the Closing Date (as
defined below) …
Lucky Minerals is a venture stage exploration company that is targeting a large-scale porphyry copper-gold-molybdenum system
in southern Montana that could potentially host a multi-million ounce gold deposit. The company
is focused on its Emigrant Creek Project, which covers a 15 square kilometer area (6 square miles) located in the core of the
mineralized and intensely altered Emigrant Mining District. To date, ten highly mineralized breccia-pipes and two porphyry
targets exist within the company's property boundary. These targets have been variously explored by drilling, induced
polarization geophysical surveys, rock chip sampling and geologic & alteration mapping. The company's properties are
comprised of nine patented claims and eight unpatented claims, with an additional 117 claims staked, covering a total area of
approximately 1,035 hectares (2,560 acres). Lucky Minerals resumed exploration in July, 2017 and has slated numerous activities
to commence over the summer and into the fall, including further diamond drilling, geophysical work, geological mapping and
ongoing sampling."
Eldorado Gold Corporation (NYSE: EGO) is a leading mid-tier gold producer with mining, development and exploration
operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. On September 21st,
Eldorado Gold announced that it has entered into constructive dialogue with Greece's Ministry of Energy and
Environment ("MoE") in respect to the development of the Company's subsidiary, Hellas Gold S.A.'s, Kassandra
Mine assets in Halkidiki, Northern Greece. The Kassandra assets, which include the Skouries and Olympias projects and
the Stratoni mine, were permitted under one single Environment Impact Study ("EIS") approved in 2011 by the Greek State.
George Burns, President and Chief Executive Officer of Eldorado
concluded: "We preserve the right to place our assets on care and maintenance and to take prompt legal action to protect the
Company and its assets in Greece should our dialogue with the Ministry of Energy and Environment prove
unsuccessful. At the same time, we remain confident that the arbitration process initiated last week by the Greek
government will be concluded in a timely and efficient manner, for the benefit of all stakeholders."
Gold Standard Ventures Corp. (NYSE: GSV) is an advanced stage gold exploration company focused on district scale
discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. The 2014 Pinion and Dark Star gold
deposit acquisitions offer Gold Standard a potential near-term development option and further consolidates the Company's premier
land package on the Carlin Trend. On September 25th, Gold Standard announced positive metallurgical results from
continuing work designed to determine the processing characteristics of the Dark Star oxide gold deposit, on its
100%-owned/controlled Railroad Project in Nevada's Carlin Trend. Jonathan Awde, CEO and Director of Gold Standard commented: "This is an important further step in determining
the economic potential of the high grade near surface Dark Star gold deposit. Not only are the initial recoveries very
encouraging but also the amount of preparatory grinding and reagent consumption required appear to be very manageable. Our
ongoing aim is to complete a PEA this year that confirms our belief that the Dark Star deposit can become a low cost gold
producer."
Asanko Gold Inc (NYSE: AKG) announced recently that has acquired ownership of the Miradani Mining Lease, which is
adjacent to the Asanko Gold Mine ("AGM") in Ghana, West Africa
(see Figure 1) from AngloGold Ashanti. Acquisition costs of the Miradani Project, which bear standard Government of Ghana royalty interests, are not disclosed and are not material. Three significant initial target areas
along the main structural trend, Miradani, Central, and Tontokrom, have been identified. A phased drilling campaign is expected
to commence in Q4 2017, with a view to completing a maiden Mineral Resource Estimate in H2 2018. Peter
Breese, President and CEO, said "The Miradani Project is a very exciting exploration project with huge potential to
increase our resource base and contribute to our future growth. Located next to our current operation and within trucking
distance, the Miradani Project 2 comes with the advantage of being on an existing mining lease, which means that we will be able
to accelerate the development timeline from resource delineation to production. Historic trenching indicates there are at least
three main zones of mineralization across the project area and the extensive artisanal workings confirm gold is present. We have
identified three drill ready targets which we will start to drill in the coming quarter and we look forward to updating the
market further during H1 2018."
Golden Star Resources Ltd. (NYSE: GSS) is an established gold mining company that owns and operates the Wassa and
Prestea mines situated on the prolific Ashanti Gold Belt in Ghana, West Africa. Earlier in September the company announced the first four results from the 2017
extension drilling program at its Prestea Underground Gold Mine ("Prestea Underground") in Ghana. The Company also
announces seven results from the 2017 in-fill drilling program. Sam Coetzer, President and Chief
Executive Officer of Golden Star, commented: "We believe that Prestea Underground is one of the
highest grade gold development projects in West Africa1. These initial results from our extension drilling program
indicate that the West Reef extends to the north of the existing Mineral Reserves, representing the potential to increase the
annual production rate in the near term. The in-fill drilling results have also further increased our confidence in the
grade, thickness and continuity of the currently defined West Reef Mineral Reserve. I look forward to releasing further
extension drilling results during the fourth quarter of 2017 and gaining a stronger understanding of Prestea Underground's longer
term potential as the drilling program increases momentum in early 2018."
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