Replies to post #1097 on Aris Mining Corp (ARMN)

[TPX]

Gold Prices Edge Higher, Dollar Doubts Provide Net Support

March 17, 2017

A slightly weaker dollar and a decline in bond yields underpinned gold on Friday, but price gains were limited by some fresh uncertainties surrounding US inflation trends.

US Treasuries resisted further losses on Thursday and edged higher on Friday with the 10-year yield just below 2.52% at the US open.

The dollar lost ground in early Europe and the trade-weighted index tested 100.00 support. There was a limited recovery from this level, but USD/JPY still moved lower to test the 113.00 area which helped underpin gold prices.

Holdings in the SPDR Gold Trust declined slightly on Thursday after three daily gains which suggested an underlying lack of conviction over moves and some interest in fading rallies.

US industrial production data had little impact with weakness in utilities output offsetting gains in manufacturing.

The University of Michigan consumer confidence index rose to 97.6 for March’s preliminary reading from 96.3 as the confidence in current conditions strengthened to the highest level since 2000.

There was, however, a decline in 1-year inflation expectations to 2.4% from 2.7% and 5-year inflation expectations declined to 2.2% from 2.5%. The weak readings for inflation expectations increased speculation that the Federal Reserve would be deterred from raising interest rates aggressively.

In response, the US currency weakened after the release with USD/JPY dipping below 113.00 and the dollar index edged back to the 10.00 area.

Gold support from a weaker dollar and lower bond yields was offset by reduced concerns over higher inflation as prices held around $1,230.

Overall, gold was still heading for the first weekly gain since late February following strong gains after the Fed rate decision.

The G20 meetings will be monitored closely on Friday and over the weekend given the potential impact on both the dollar and risk appetite.

The latest COT positioning data, released late on Friday, will be a significant focus to assess investor gold positioning just ahead of the Federal Reserve interest rate decision. A substantial decline in net long positions could increase the potential for longer-term support on a re-building of positions.

http://www.economiccalendar.com/2017/03/17/gold-prices-edge-higher-dollar-doubts-provide-net-support/

[TPX]

Nice Info! Colombia Gold Reserves 2000-2017 http://www.tradingeconomics.com/colombia/gold-reserves

Gold Reserves in Colombia increased to 5.76 Tonnes in the fourth quarter of 2016 from 3.78 Tonnes in the third quarter of 2016. Gold Reserves in Colombia averaged 8.63 Tonnes from 2000 until 2016, reaching an all time high of 10.36 Tonnes in the fourth quarter of 2011 and a record low of 3.49 Tonnes in the third quarter of 2015.

[geodan]

Iamgold deal is a big deal, big company would not do it unless they it can be big. Very happy to see this.

Gran Colombia Gold Signs Option Agreement With IAMGOLD to Explore Zancudo Project -
March 16, 2017
TORONTO, ON --(Marketwired - March 16, 2017) -

Gran Colombia Gold Corp. (TSX: GCM) announced today that it has signed
an option agreement with IAMGOLD Corp. (TSX: IMG) for the exploration
and potential purchase of an interest in the Company's
Zancudo Project.

[TPX]

Gran Colombia Gold raises gold production

PUBLISHED 9 HOURS

During the first two months of this year Gran Colombia Gold produced 24,585 troy ounces of gold (765 kilos) and plans to close this year with 160,000 ounces (4.9 tons) of its mines in Segovia, Northeastern Antioquia, and Marmato in The north of Caldas.
To achieve this goal, the company announced that in February it completed the 10,000-meter drilling campaign at the Providencia de Segovia mine, a task that yielded favorable results.
According to Serafino Iacono, co-chairman of the board of directors of Gran Colombia Gold, the exploration confirmed that there are at least two areas with potential, which could increase the overall production of the Providencia underground mine in the medium term (see Radiography).
Other exploration work carried out at the Marmato mine has made it possible to find an area rich in minerals that is close to the current front of operations and which, in Iacono's words, "opens the potential of a completely different mining scenario, which the company Evaluate carefully ".
It was also reported that the firm SRK Consulting, is preparing an updated estimate of mineral resources of Gran Colombia Gold, which incorporates the results of these drilling.
For the next months of 2017, the mining company plans to execute a new drilling campaign of 20,000 meters, to continue its efforts to expand its mineral resources in its Segovia operations.
Without specifying an amount, Gran Colombia Gold indicated that the capital investment will focus on the Providencia and El Silencio mines, in which it will seek to improve its infrastructure, adapt ventilation ducts, acquire mining equipment and expand storage facilities, as well as implement New plans for health, safety and environmental initiatives.
Last year, this firm produced 149,687 ounces of gold (4.6 tons) driven by growth in its Segovia operations.

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Original article:

Gran Colombia Gold eleva producción de oro

PUBLICADO HACE 9 HORAS


Durante el primer bimestre de este año Gran Colombia Gold produjo 24.585 onzas troy de oro (765 kilos), y proyecta cerrar este año con un volumen de 160.000 onzas (4,9 toneladas) de sus minas en Segovia, Nordeste antioqueño, y Marmato en el norte de Caldas.
Para lograr esa meta, la compañía anunció que en febrero completó la campaña de perforación de 10.000 metros en la mina Providencia de Segovia, tarea que arrojó resultados favorables.
Según Serafino Iacono, copresidente de la junta directiva de Gran Colombia Gold, la exploración confirmó que existen por lo menos dos áreas con potencial, que podrían aumentar la producción general de la mina subterránea de Providencia en el mediano plazo (ver Radiografía).
Otros trabajos de exploración, adelantados en la mina de Marmato, permitieron hallar una zona rica en minerales que es cercana al actual frente de operaciones y que, en palabras de Iacono, “abre el potencial de un escenario de minería completamente diferente, que la compañía evaluará cuidadosamente”.
También se informó que la firma SRK Consulting, está preparando un estimado actualizado de recursos minerales de Gran Colombia Gold, que incorpora los resultados de esas perforaciones.
Para los próximos meses de 2017, la empresa minera planea ejecutar una nueva campaña de perforación de 20.000 metros, para continuar sus esfuerzos por ampliar sus recursos minerales en sus operaciones de Segovia.
Sin precisar un monto, Gran Colombia Gold indicó que la inversión de capital se centrará en las minas Providencia y El Silencio, en las que buscará mejorar su infraestructura, adecuar ductos de ventilación, adquirir equipo minero y expandir las instalaciones de almacenamiento, además de implementar nuevos planes de salud, seguridad e iniciativas ambientales.
El año pasado, esta firma produjo 149.687 onzas de oro (4,6 toneladas) impulsada por el crecimiento en sus operaciones de Segovia.

http://www.elcolombiano.com/negocios/gran-colombia-gold-quiere-producir-160-000-onzas-de-oro-este-ano-MX6176619