Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 3
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 2
Nick Barisheff, president and CEO of Bullion Management Group Inc, discusses the irreversible trends that will drive gold to $10,000.
In a world where financial and geopolitical certainty is evaporating, no one knows what Black Swan event could cause an explosion in the gold price. Some have suggested it will be the failure of a major bank through derivative exposure, a Middle East war, or a major downgrade of U.S. bonds might also be the catalyst. In 2013, as has been the case since 2001, the best policy for wealth protection remains to simply buy and hold uncompromised bullion until we are once again on solid economic footing.
Hear Nick Barisheff's Outlook 2013 Part 1 Now!
The US Will Be Cyprused & We Will See $50,000 Gold - by Sinclair –
SAS Reports Exploration Drilling Results at the Hislop Pit Complex and Hislop North Drilling Targets
Hislop Pit Complex returns 3.06 g/t Au over 21.8m, including 5.30 g/t Au over 8.2m; and 7.01 g/t Au over 8.1m
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Hislop North returns 4.43 g/t Au over 20.2m (5.25 g/t Au uncut), including 12.81 g/t Au over 3.8m (16.44 g/t Au uncut)
TORONTO, Aug. 7, 2013 /CNW/ -
St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") is pleased to announce recent drill results from the Hislop North Project ("Hislop North"), northwest of the Hislop Mine and the Hislop Pit depth extension drilling ("Hislop Pit Complex").
HIGHLIGHTS OF DRILLING RESULTS
Hislop Pit Complex
HP13-010: 3.06 g/t Au over 21.8 metres including 5.30 g/t Au over 8.2 metres
HP13-017: 3.37 g/t Au over 17.6 metres including 15.60 g/t Au over 2.2 metres
HP13-033: 7.01 g/t Au over 8.1 metres including 20.30 g/t Au over 1.5 metres
Hislop North
H13-003A: 4.43 g/t Au over 20.2 metres (5.25 g/t Au over 20.2 metres uncut) including 12.81 g/t Au over 3.8 metres (16.44 g/t Au over 3.8 metres uncut)
H13-013: 8.32 g/t Au over 6.4 metres including 13.42 g/t Au over 2.9 metres
SAS provides notice of 2013 second quarter earnings release and conference call
TORONTO, July 23, 2013 /CNW/ -
St Andrew Goldfields Ltd. (T-SAS) (OTCQX-STADF), ("SAS" or the "Company") invites you to participate in the upcoming conference call to discuss its second quarter financial and operating results for 2013.
The conference call will take place on Wednesday August 14, at 10:00 AM EST. SAS's second quarter financial results will be released after market on Tuesday August 13, 2013.
A playback will be available via the website and will be posted within 24 hours of the call.
About SAS SAS (operating as "SAS Goldmines"), is a gold mining and exploration company with an extensive land package in the Timmins mining district, north-eastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada.
SAS owns and operates the Holt, Holloway and Hislop mines which contribute approximately 100,000 ounces of annual gold production. The Company is also advancing the Taylor Project and is conducting an aggressive exploration program across 120km of land straddling the Porcupine-Destor Fault Zone.
SOURCE: St Andrew Goldfields Ltd.
For further information about St Andrew Goldfields Ltd., please contact: Tel: 1-800-463-5139 or (416) 815-9855;
St Andrew Goldfields Ltd. is a Canadian gold mining company with an extensive land package in the Timmins mining district in northeastern Ontario, Canada.
The company operates the Holt, Holloway and Hislop gold mines and plans to produce 100 Koz gold in 2013.
Expert Comments: Michael Fowler, Loewen, Ondaatje & McCutcheon (8/15/13) "St Andrew Goldfields Ltd. reported quarterly production was up 10% and total cash costs per ounce were down 2.4% year-on-year. . .the company only recorded a small $0.3M free cash-flow outlay in the quarter, which was a very good achievement considering the dramatic fall in the price of gold. Even more positive is that capital expenditures in 2013 are H1 loaded and H2 should see $5.4M lower outlays. . .the company maintains a strong balance sheet and is one of the best among the junior producers; the cash position stands at $31.5M, working capital of $26.5M and an unused line of credit of $10M."
Christos Doulis, Stonecap Securities (8/15/13) "St Andrew Goldfields Ltd. hosted a conference call following the release of its Q2/13 financial results. . .total production in the quarter was 25,353 oz Au at a total cash cost (including royalties) of $897/oz Au, down from $939/oz Au in Q1/13. . .cash at quarter end was ~$31.5M. . .providing St. Andrew with plenty of balance sheet flexibility. . .St. Andrew has delivered another solid quarter of results in-line with our expectations.
With a reduced capital budget in H2/13, we expect St. Andrew to return to generating free cash flow in H2/13; we are maintaining our Outperform rating."
Christos Doulis, Stonecap Securities (7/5/13) "We expect total production from St. Andrew Goldfields Ltd. of ~25 Koz Au in Q2/13. . .production in Q1/13 was ~24 Koz Au. . .we will also be looking for the results of the bulk sample from Taylor and results from the company's recent exploration programs."
Christos Doulis, Stonecap Securities (5/13/13) "St. Andrew Goldfields Ltd. recently released its Q1/13 financial results showing another quarter of positive free cash flow. . .cash flow from operations was $14.1M with capex of $10M, resulting in free cash flow of $4.1M. . .we believe that the company is well positioned to continue to create value even in a lower gold price environment. . .we are maintaining our Outperform rating."
Eric Winmill, Casimir Capital (5/13/13) "St. Andrew Goldfields Ltd. has released its Q1/13 financial results. . .the company had a strong cash position of $32.1M, an undrawn revolving credit facility of $10M and long-term debt of $10.4M. . .This compares to last quarter's cash of $30.7M with long-term debt of $12.8M and the undrawn credit facility. . .we reiterate our Buy rating." St Andrew Goldfields Ltd. Content SAS Plans to Double
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