zonte metals

Nice Article. Newfound Gold, I think RonS mentioned they were on the same trend as Wings about 30 kms away are going public.

palisades.ca/news/new-found-gold-files-p...ial-public-offering/

n November 2019, New Found made a major discovery with its very first drill hole – 92.9 g/t Au over 19.0 meters in hole NFGC-01 at its 100% owned Queensway Project. This is the best drill intercept ever recorded in the Province's history!

New Found's go-public transaction is being co-managed by Canaccord and Bank of Montreal, as part of a larger syndicate that includes Desjardins Securities. The targeted raise is for between $15-25M. Upon completion of the offering, New Found should be launching with $55-70M in cash and cash equivalents. The Company plans to conduct 100,000 meters of drilling at the Queensway Project within 18 months of going public. New Found is expected to begin trading in early August.

Wings Point neighbour Labrador Gold had some favourable press on the weekend and has broke out to new highs. Astute investors might be buying ZON too

By Dan HealingThe Canadian Press
Sun., June 28, 2020timer4 min. read

CALGARY—For veteran geologist Roger Moss, this year’s runup in gold prices to seven-year highs over $1,750 (U.S.) per ounce could not have come at a better time.

The president and CEO — and only full-time employee — of two-year-old Labrador Gold Corp. had been focused on prospecting in Labrador until early this year when news emerged of a potentially significant gold discovery near Gander, N.L.

Toronto-based LabGold switched gears quickly and snapped up mineral claims covering 66 square kilometres just to the north of the find. It proposed the Kingsway Gold Project, then went to the market with a $3.5-million equity financing offer in May.

Unexpectedly strong investor interest led to raising the proposed financing to $5 million, and then again to $5.3 million, more than enough for this summer’s exploratory drilling program.

“The gold price is definitely part of it,” said Moss, 56, who has been prospecting in Canada and overseas for more than 30 years.

“I think initially the majors were making a lot of money at those prices and then some of the intermediate gold miners have done well and I think, finally, the interest is trickling down to the smaller cap junior companies like ours.”

(As a side note, the privately held holder of the Newfoundland discovery, New Found Gold, has since filed a preliminary prospectus for an initial public offering that would raise $15 million to $25 million.)

Gold prices went from an all-time high of almost $1,900 per ounce in 2011 to under $1,100 at the end of 2015, then slipped into a holding pattern for years before gradually strengthening through most of 2019.

The increase in the gold price from around $1,550 per ounce six months ago is largely because of the economic disruption and uncertainty caused by the COVID-19 pandemic, said Christopher Louney, a commodity strategist with RBC Capital Markets.

In its most recent forecast, RBC said gold could reach a record-setting average price of $2,012 per ounce in the first quarter of 2021 under its high-price scenario.

“Our argument is that it’s possible to get there and achieve those levels; it just will take a significant economic impact, from a potential second (pandemic) wave, for example,” Louney said in an interview.

The analysts consider their base price forecast, where the average first-quarter 2021 price averages $1,739, to be slightly more likely to occur.

Louney cautioned that markets have largely factored in the current “easy” monetary policies that have reduced interest rates to extremely low levels and polished gold’s traditional appeal as a hedge against inflation and a lower U.S. dollar value.

In a recent report, Goldman Sachs said it expects gold prices to follow a similar path to that in the aftermath of the financial crisis of 2008-09 — jumping initially as rates fall, directionless for about six months after, then rising with higher inflation and remaining high for several years before falling.

It also predicts gold prices will reach $2,000 per ounce by this time next year as demand rises with the lifting of pandemic lockdowns and a weaker American dollar.

Higher gold prices are good news for miners but they won’t necessarily lead immediately to more projects in Canada, said Kevin Chan, national mining leader for PwC Canada.

“Companies are still using a relatively conservative gold price assumption,” he said. “A lot of them are still planning and looking at their future development projects using lower gold prices, somewhere between $1,200 and $1,300.”

He said gold miners have learned from the last boom to avoid taking on big debt and risks to build production.

Gold companies have had an advantage this year over other parts of the economy because most mines in Canada have been able to stay open most of the time despite pandemic lockdowns, Chan said.

Merger and acquisition activity has been up, mainly among mid-sized and junior companies, and conservative attitudes are reflected in companies striking share-swap or zero-premium deals, he said.

He expects companies to create more joint ventures to share risk and provide synergistic cost savings, a trend illustrated by the Nevada gold mine partnership struck by giants Barrick Gold Corp. and Newmont Corp. last year.

Acquisition is still the main way miners plan to execute on growth, but technology is next up, said Katherine Wetmore, a partner with KPMG Canada, citing its recent mining survey.

“Ore bodies are becoming more difficult to access. The reserves are depleting,” she said.

“So companies have to look to more creative ways to be more targeted with exploration activities or reduce costs.”

In a June research paper, Wood Mackenzie said the global gold mining industry will need to invest about $37 billion to create 44 new mines or mine restarts over the next five years to maintain 2019 levels of production and replace depleted mine reserves.

Miners wishing to benefit from current elevated prices may have to consider joint ventures and phased approaches to build larger mines, it said, but smaller projects will have the advantage of lower initial capital outlay and faster timelines to production.

After decades of watching fickle investor interest in mining, LabGold’s Moss is enjoying his sector’s recent success in attracting well-heeled admirers.

“Small companies have been struggling for quite a few years and it’s quite refreshing to see that people are now coming back to the junior mining market,” he said.

“I think in the last few years funds have been diverted to the marijuana stocks and Bitcoin and a lot of that now is coming back to the junior miners, especially in gold.

Thanks GB and Wow, about 150k in bids have come in above the BOM .21 bid. With that good news from LAB, we might be starting to see the start of an area play

Lots of action today, have to post depth again, last one way out of date. Lots of bids and buying coming in. And the big sell ticked came back from Scotia but is getting chewed away at, once through that, we are headed back to 30

Goldman, great post, depth looks good this morning.

Lynnsa :Excellent find on the Victoria Gold website !

Victoria Gold now has a market value of about Cdn $ 800 Million .
The property sharing much of the border to the East of Victoria Gold should be worth a few Cdn million dollars !!!

For investors who would like to learn about McConnells Jest , go to the Zonte Metals website

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zontemetals.com
On the home page _ Click projects
Then click McConnells Jest:Yukon
Then go to near the bottom of the page and click " NI 43-101 " and you will be able to read the 110 page report prepared by Andrew Randell. P Geo .
If I am correct , Mr Randell was the chief geologist at Victoria Gold
for 2 1/2 years . He is very knowledgeable about the area.
If you are a Zonte Shareholder , this report is informative to read .

Many similarities exist between Dublin Gulch at Victoria Gold and McConnells Jest at Zonte Metals.

If Victoria Gold is in play now or the near term , a large mining company should pay for the opportunity to own the adjacent property .

Victoria Gold ( VGCX on the TSE ) has been recently running many one minute ads on BNN TV .
John McConnell , the president , is the spokesperson . He said that at
US $ 1,800 per ounce of gold and 200,000 ounces of annual production , , then Victoria gold will cash flow 200 million dollars annually . Probably Canadian dollars .
This would be a cash flow of about US $ 750 per ounce or Cdn $ 1,000 per ounce.
He then indicated that the 2020 exploration program will continue ; at the Nugget and Raven where very successful results have been recorded in the previous years .
This Nugget and Raven results have been press released by Victoria Gold and are easily found on their website .

Mr Christopher , keep up the excellent work on Zonte's 4 property nicely diversified portfolio !!!

Let Gold and Copper prices keep rising .

Did any notice that the Spot Copper price was over US $ 2.70 a pound on Friday ?
Three months ago , the Spot Copper price was below US $ 2.10 a pound .

Go Zonte Go !!!

ron wrote: Are you buying meguma,i'm on the bid with a small 1k at $0.215.

I have a bid in at 0.20.

Good find DearJohn,RonS mentioned that the wing points gold project will be a low grade project,could they surprise us with high grades,how can we be 100% certain it's a low grade project at this time.

Hoss wrote: ron, I think results are promising and Zonte getting close, but need that discovery hole. For some strange reason, cloud charts will not come up for some symbols today, such as ZON, but last I checked, it was trading in the cloud, which usually means volatility up and down.

I am still holding and believe the stock has bottomed, but won't buy anymore until I see a break above the cloud

Thanks for answering Hoss,is your cloud charts working today,i'm taking no chances,been buying since the big covid19 drop in march,and as you mentioned,the bottom might be here in front of our eyes,so it's a steal at those prices,could be wrong,hope not.

Have you got the depth GoldnBoy, is the 137k on the ask at $0.26 still standing,thanks.

Are you buying meguma,i'm on the bid with a small 1k at $0.215.

Good points JunglistGuy,zonte have the funds now and more than one project,2020 should be a excellent year for zonte.