CORAL SPRINGS, FL, July 12, 2016 /CNW/ - Gold prices have moved higher for sixth consecutive weeks with the precious metal up more than 0.9% ahead of last week's market close. Recent beliefs in the sector suggest that although inflation indicators remains flat, investors continue to seek an alternative to fiat currencies as the efficacy of monetary easing diminishes.
In latest advancements in the Gold mining sector: Bullfrog Gold Corp (OTC: BFGC) is pleased to provide updates and further attributes of the Company and its Bullfrog Gold Project located 120 miles NW of Las Vegas Nevada:
- The Bullfrog Mining District ("District") hosts an enormous epithermal gold system from which Barrick Bullfrog Inc. ("Barrick") produced 2.3 million ounces of relatively high grade gold from open pit and underground ores during the period 1989 into 1998.
- Remaining mineralization in and around Barrick's mines was estimated by the Company to contain 470,000 ounces of gold averaging 0.89 ounces per tonne. See press release of April 11, 2016. The Company believes this mineral inventory supports an open pit mining and heap leaching project under current market conditions.
- The Company's lands have strong potential for expanding known mineralization as well as discovering new zones.
- A debt obligation of more than $2.8 million was recently eliminated, thereby enhancing the Company's balance sheet and its ability to fund and advance the Project. See press release of July 6, 2016. The Company now has less than $500,000 of debt, which is anticipated to be paid off during the next few months.
Read the full Bullfrog Gold (BFGC) Press Release at http://financialnewsmedia.com/profiles/bfgc.html
The release includes additional info such as the Project infrastructure is excellent and includes: Barrick's haulage ramps from the surface to the pit bottoms remain in place, thereby allowing expansion of the M-S and Bullfrog pits while minimizing costs. For reference, these ramps would cost many millions of dollars for a similar Greenfield project. The Company obtained or has access to all of Barrick extensive project data base, including 157 miles of exploration and development drilling throughout the District. This amount of drilling would currently cost more than $40 million. The Company currently has 97.4 million shares outstanding and a market capitalization of $9.1. There are 4.5 million options exercisable at $0.025 and 4.0 million warrants exercisable at $0.35, which warrants expire on or before February 4, 2017. As a result, fully diluted shares are 105.9 million. And Market capitalizations per ounce as of July 8, 2016 are less than $20 for the Company compared to $50 to $140 for several other companies that have similar heap leaching projects.
In other sector developments: IAMGOLD Corporation (TSX: IMG)(IMG.TO) will release its second quarter 2016 financial results after market hours on Wednesday, August 3rd, 2016. CONFERENCE CALL - A conference call will be held on Thursday, August 4th at 8:30 a.m. (Eastern Daylight Time) for a discussion with management regarding the Company's operating performance and financial results for the second quarter 2016. A webcast of the conference call will be available through the Company's website at http://www.iamgold.com. Conference Call Information: North America Toll-Free: 1-800-319-4610 or International number: 1-604-638-5340
GOLDCORP INC. (G.TO)(TSX: G) has published its latest Sustainability Report, which provides a detailed insight into the company's economic, environmental, and social performance, as well as its commitment to responsible mining and sustainability excellence. The report is independently assured, and follows the requirements of the G4 Global Reporting Initiative, the United Nations Global Compact, and the International Council on Mining and Metals.
Kinross Gold (K.TO)(TSX:K) will release its financial statements and operating results for the second quarter 2016 on Wednesday, July 27, 2016, after market close. A conference call and audio webcast will then be held on July 28, 2016 at 8 a.m. ET to discuss the results, followed by a question-and-answer session. The call-in numbers are as follows: Canada & US toll-free -- 1-800-319-4610 - Outside of Canada & US -- 1-604-638-5340
Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) should benefit from higher realized prices in 2Q16 and beyond. For example, Revenue projections from analysts are a proxy for a mining company's volumes sold multiplied by its prices received. Wall Street analysts covering Coeur Mining (CDE) are projecting sales of $165.6 million for 2Q16. This implies a revenue change of 12% quarter-over-quarter and flat growth year-over-year (or YoY). Coeur's actual revenues fell 3% YoY in 1Q16.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com. Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Bullfrog Gold Corp by a none affiliated third party. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group, LLC
For further information: Contact Information: Company: FN Media Group, LLC, Contact email: firstname.lastname@example.org, U.S. Phone: +1(954)345-0611, URL: http://www.financialnewsmedia.com