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Do We Need A Major Discovery to Help Propel the Junior Mining Sector?

Dr. Kal Kotecha Dr. Kal Kotecha, Junior Gold Report
2 Comments| November 18, 2019

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It has been quite some time since we have experienced a huge discovery. Junior mining investors are wondering what needs to be done to propel this anemic market? As the major indexes reach new all-time highs, the junior mining investors are generally seeing their investments plunge in value even with gold trading close to $1500/US per ounce. Since the gold price has been previously hovering around $1200/US per ounce for some period, many might be thinking that the move up in gold to $1500/US ounce was “a long time coming” and was possibly already priced into the share prices. Many junior mining investors including myself, were hoping that gains made from the cannabis sector would flow into the junior mining sector and bring in a new wave of investors. Unfortunately, as we are aware, the cannabis sector has been suffering recently. Seeing gold break its all time high and then trading over $2000/US per ounce might set the junior mining market on fire. As well, a major discovery might do it.

According to Mining Journal, “S&P Global Market Intelligence's annual Gold Discoveries report found that gold exploration budgets peaked in 2012, but remain at historically high levels. Explorers have allocated US$54.3 billion to gold exploration over the past decade, 60% higher than the $32.2 billion spent over the preceding 18 years. Despite the effort, just 215.5 million ounces has been discovered in 41 discoveries over the past decade, compared with 1.72 billion ounces in 222 discoveries in the preceding 18-year period. Over half of that amount is contained in just 10 discoveries, with Zhaojin Mining Industry Co's 16.4Moz Haiyu deposit in China the largest.Other deposits in the top 10 including Barrick Gold's Goldrush, White Rivers Exploration/Harmony Gold's JV, SolGold's Cascabel and Cardinal Gold's Namdini.” https://www.mining-journal.com/research/news/1337480/gold-discovery-rates-continue-to-slide

It is a matter of time before a new discovery is made and the gold price reaches new highs. The questions remain as to which one will happen first and when? I am hoping, as are many others, for both to transpire simultaneously and sometime soon!

Happy Investing!

Dr. Kal Kotecha

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Comments

Major Discovery...Like more than a million Oz potential?....Great Bear?...Wallbridge..?
(25)
November 18, 2019

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