Over the last few weeks, the price of gold fell from a high of $1,962.50 to a low of $1,718.42. However, don’t count out the yellow metal just yet. The same catalysts that drove gold above $2,000 are still firmly in place. For one, gold remains a hedge against the Federal Reserve’s current economic policy. In addition, trillions of dollars could soon hit the economy, and the central bank isn’t likely to budge on raising interest rates any time soon. All of the fundamental reasons for higher gold prices are still there. That’s great news for companies such as AngloGold Ashanti Limited (NYSE:AU), Barrick Gold Corp. (NYSE:GOLD)(TSX:ABX), Franco Nevada Corporation (NYSE:FNV), and Newmont Corporation (NYSE:NEM)(TSX:NGT).
It’s Also Bullish News for West Mining Corp. (CSE:WEST)(OTC:WESMF)
West Mining is an advanced stage exploration company focused on developing a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia “The Golden Arc.”
The company just announced that it has engaged Moose Mountain Technical Services of Cranbrook, B.C., for the preparation of updated NI 43-101 Resource Estimates for the Kena and Gold Mountain zones on its Kena-Daylight gold and copper property. Both properties are located in southeastern British Columbia.
“The transition from historic to current NI 43-101 Resource Estimate for the Kena property is a key building block to moving the project forward. Having continuity throughout the data is the unpinning foundation point” stated Nicholas Houghton, President and CEO.
Under the guidance Sue Bird P.Eng, the MMTS team will be responsible for:
– Data Collection and Organization
– Review of assaying and QA/QC
– Site visit to each deposit
– Update geological models
– Update Block Model and Resource
– Verification and implementation of previous underground mining
– Updated 43-101 on the Kena Resource Estimates
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