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Monday, 08/24/2020 10:06:44 PM

Monday, August 24, 2020 10:06:44 PM

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Caldas Gold shares surge on $90 million financing
MINING.COM Staff Writer | August 24, 2020 | 12:23 pm Markets News Canada Gold




Gran Colombias Marmato project to become stand-alone company in February
The Marmato project is located in the Caldas department in the heart of
the Middle Cauca gold district.
(Image courtesy of Gran Colombia Gold.)

Caldas Gold (TSXV: CGC) is looking to raise up to $90 million
through a fully marketed private placement of subscription receipts.

In a press release on Monday, the Canadian junior miner
announced it has settled terms for the proposed issuance
and sale of 90,000 subscription receipts of the company at a price
of $1,000 each, with Scotiabank and Canaccord Genuity acting as
co-lead agents on behalf of a syndicate of agents including
Stifel Nicolaus Canada and Red Cloud Securities.

The company anticipates raising $80 million to $90 million from the
offering, said Chairman and CEO Serafino Iacono.

Proceeds will be used to fund the expansion of Caldas’ mining
operations at the Marmato project in Colombia.

The Marmato project comprises two distinct operations — the existing Upper Zone operation and a new Deeps Zone operation that sits directly below the Upper Zone vein system.
Last year, the Upper Zone mine produced 25,750 ounces of gold.

Earlier this year, Caldas entered a $110 million streaming deal with Wheaton Precious Metals (NYSE: WPM) to develop the Deep Zone mineralization. This was followed up by a special warrant financing of C$45 million to secure additional funding for the expansion project.

Located within a historical mining district, the project contains an estimated 2 million ounces of gold resources in the measured and indicated categories and 3.3 million ounces of gold resources in the inferred category.

A prefeasibility study (PFS) incorporating the new mine is currently underway and is expected for completion mid-2020.

Shares of Caldas Gold surged 6% on news of the latest financing. The company has a market capitalization of approximately C$193.7 million.

1070 0

Gold Debate: Is A New Gold Standard Coming? (Steve Forbes)

August 23, 2020

https://www.youtube.com/watch?time_continue=157&v=rs1PH_GLi98&feature=emb_logo



Gran Colombia Gold Reports Second Quarter and First Half 2020 Results; Announces Quarterly Dividend Program

August 13, 2020

TORONTO, Aug. 13, 2020 (GLOBE NEWSWIRE) --


Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today the release of its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the three months ended March 31, 2020. All financial figures contained herein are expressed in U.S. dollars (“USD”) unless otherwise noted.

Serafino Iacono, Executive Chairman of Gran Colombia, commenting on the Company’s latest results, said, “Our first quarter results continued to show strength, and that was when gold was more than $100 an ounce lower than where we are now. Quarterly revenue surpassed $100 million for the first time leading to adjusted EBITDA of $50 million. Operating cash flow and Free Cash Flow were up over 50% compared with the first quarter last year. The balance sheet also got stronger as we built up our consolidated cash position to about $100 million and by the end of April, we had reduced our Gold Notes by 40% since the beginning of the year. We are very pleased that Caldas Gold is up and running now. Drilling results from the Deep Zone at Marmato continue to be impressive and the PFS remains on track for mid-year. I am also very proud of what our Company has been able to do during COVID-19 to help out the communities in which we live and work. These are definitely unprecedented times and our people have done a tremendous job keeping our operations going while ensuring we all do the right thing to keep our workers safe.”

Second Quarter and First Half 2020 Highlights

Gran Colombia’s gold production in the first quarter of 2020 was 56,247 ounces produced compared with 60,601 ounces in the first quarter last year. The Company’s mines have continued to operate during the national quarantine implemented in Colombia in late March. However, restrictions on movement of people between communities has limited the availability of workers at the mines. Although April’s gold production totalled 12,602 ounces, about 65% of the average monthly volume over the last 12 months, the situation has improved and the Segovia Operations have been operating at about 95% of normal since mid-April.

During the COVID-19 quarantine, the Company has stepped up its efforts to support the local communities in which it operates, providing medical equipment, supplies and sanitation kits to the local hospitals and groceries to families who have been economically affected by the COVID-19 crisis.

Revenue amounted to $101.0 million in the first quarter of 2020, up 30% over the first quarter last year, getting a boost from the 21% increase in spot gold prices which increased the Company’s realized gold price to an average of $1,570 per ounce sold compared with $1,298 per ounce sold in the first quarter last year. The volume of gold sales in the first quarter of 2020 was also up 8% over the first quarter last year, benefitting from a reduction in mineral inventories following a build up during the refinery shutdown during the holiday period at the end of 2019.

Total cash costs (1) per ounce averaged $667 per ounce in the first quarter of 2020 compared with $621 per ounce in the first quarter last year. Segovia’s total cash costs were $604 per ounce in the first quarter of 2020 and Marmato’s total cash costs of $1,215 per ounce reflected the impact of additional costs associated with the commencement of mine optimization activities and the adverse impact on production in January of a temporary explosives shortfall.

All-in sustaining costs (“AISC”) (1) and All-in costs (1) of $890 per ounce and $978 per ounce, respectively, in the first quarter of 2020 reflected increased levels of capital and exploration spending and arbitration-related costs in G&A, compared with $832 per ounce and $843 per ounce, respectively, in the first quarter last year.

The Company reported adjusted EBITDA (1) of $50.4 million for the first quarter of 2020, up 43% over the first quarter last year, benefitting from the stronger revenue performance in the first quarter of 2020.

Net cash provided by operating activities in the first quarter of 2020 of $31.8 million was up 60% over the first quarter last year fuelling a 57% increase in the Company’s Free Cash Flow (1) in the first quarter of 2020 to $17.8 million from $11.3 million in the first quarter last year.

The Company’s balance sheet strengthened in the first quarter of 2020 as total cash increased to $99.7 million at the end of March 2020 from $84.2 million at the end of 2019. Meanwhile, the Company used $21.1 million from the net proceeds of a CA$40 million ($30.1 million) private placement completed in February to redeem 30% of its Gold Notes ahead of schedule. At April 30, 2020, the aggregate principal amount of Gold Notes outstanding was down to $41.3 million.

The Company completed the spin-out of its Marmato Mining Assets through a reverse takeover transaction. The Company has a 74.4% interest in the resulting issuer, named Caldas Gold Corp., which commenced trading on the TSX Venture Exchange on February 28, 2020 under the symbol “CGC”.

As of May 15, 2020, the total issued and outstanding common shares of the Company is 61.3 million and after inclusion of stock options, warrants and the Convertible Debentures, the Company’s fully diluted common shares would total approximately 89.4 million.

The Company reported net income for the first quarter of 2020 of $24.3 million ($0.42 per share) compared with net income of $7.9 million ($0.16 per share) in the first quarter last year. Adjusted net income (1) for the first quarter of 2020 was $21.2 million ($0.37 per share), up from $13.0 million ($0.27 per share) in the first quarter last year. The year-over-year improvement in adjusted net income for the first quarter of 2020 largely reflects the positive impact of the Company’s revenue growth resulting from higher gold prices in 2020 and the increased volume of gold sales in the current period.

The Company has successfully completed Phase 2 of its 2019 infill drilling program in the Zona Baja Deep Zone at Marmato which focused above the 600 meter level and was designed to provide enough tonnes and grade in the Measured and Indicated mineral resource categories within the Main Zone to support the prefeasibility study (“PFS”) which is currently being carried out and is expected to be finalized by mid-2020. The Company’s exploration program was also successful in extending the recently discovered New Zone along strike to more than 400 meters, opening up an opportunity for further mineral resource expansion.

Gran Colombia recently signed a Letter of Intent with Renergetica Colombia S.A.S. to acquire, through its Segovia Operations, a solar project with a total installed capacity of 11.2 MW of power called “Suarez”, to be located in the Tolima Region of Colombia.
http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2020/Gran-Colombia-Gold-Reports-Second-Quarter-and-First-Half-2020-Results-Announces-Quarterly-Dividend-Program/default.aspx



GCM Q2 2020 Results Presentation V2

http://s21.q4cdn.com/834539576/files/H-GCM-Q2-2020-Results-Presentation-(Final).pdf




MINERS: The New Growth Stocks, Highest Level Ever! Plus “We Maintain A Bullish Outlook” For Gold
August 20, 2020
MINERS: The New Growth Stocks, Highest Level Ever! Plus We Maintain A Bullish Outlook For Gold
With gold and silver prices surging today, expect miners to be the new growth stocks. Plus a look at highest level ever, and “We maintain a bullish outlook” for gold.

Despite Pullback, “We Maintain A Bullish Outlook” For Gold
August 20 (KWN) – Ole Hansen, Head of Commodity Strategy at Saxo Bank: Spot Gold and Spot Silver dropped yesterday following the Fed minutes … as they were taken as being gold negative given the lack of commitment to yield-curve control. The metal however has so far managed to bounce after finding support near the previous high from 2011. In our latest commodity webinar we focused on the developments that have driven gold and silver to these elevated levels while also highlighting the reasons we maintain a bullish outlook. An outlook that hasn’t changed following yesterday’s FOMC minutes. Gold will however, as we have warned this week now face a period of elevated volatility as the market needs to adapt and adjust to these new higher levels. Resistance at $2015 with support in the $1900-$1920 area…

MINERS: The New Growth Stocks
Otavio Costa: On days like today it’s important to remember the level of opportunity still ahead of us. Miners are about to become the new growth stocks of this investment cycle. (See below).

BIG PICTURE…FORGET THE NOISE:
Gold & Silver Mining Stocks Will Definitely Skyrocket



GOLD BULL JUST GETTING STARTED
***ALSO JUST RELEASED: GOLD BULL JUST GETTING STARTED: Despite Pullback, It’s Early Days For The Gold Bull Market, Plus Gold vs Everything CLICK HERE.

***To listen to Gerald Celente discuss his warning of “hell on earth,” plus gold, silver, major markets, and much more click here or on the image below.



Warren Buffett’s Berkshire Hathaway Joins the Gold Rush
Its big stake in Barrick Gold follows Bridgewater Associates, others in betting on a metal whose 2020 price surge exceeds tech-stock-led Nasdaq Composite

https://www.wsj.com/articles/warren-buffetts-berkshire-hathaway-joins-the-gold-rush-11597682998?mod=pls_whats_news_us_business_f
Gold & Silver bulls starting to break out > ^ > ^ > ^

https://www.youtube.com/watch?time_continue=3&v=RDZQoQ61RrY&feature=emb_logo

Gold & Silver bulls starting to break out > ^ > ^ > ^






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Gold & Silver is the only REAL Legal Tender -

by The Founding Fathers for your -

Rights, Liberty and Freedom -

http://www.biblebelievers.org.au/monie.htm

God Bless America
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TIA


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