Issue link: http://resourceworld.uberflip.com/i/1207716
F E B R U A R Y / M A R C H 2 0 2 0 www.resourceworld.com 11 producer was short-lived as just two weeks later America's Newmont Mining and Canada's Goldcorp Inc. announced they were also merging to form the world's newest largest gold miner. After some complications and counter proposals this merger was finalized in mid-April, 2019 with the launch of Newmont Goldcorp Inc. with a projected gold production of some 6-7 million ounces a year. Fast forward to late November when Kirkland Lake Gold announced a $4.89-bil- lion all-cash takeover of Detour Gold to form Canada's newest senior gold producer with an estimated annual gold production of some 1.5-million ounces from mines in Canada and Australia. Then, just a week later, in early December, China's Ziinjin Mining announced a friendly CAD $1.4-billion takeover of Continental Gold and its prized Buriticá gold project in Colombia. And soon after, Equinox Gold Corp. and Leagold Mining Corp. announced they would merge as equals to form a potential 1 million ounce gold producer with operations throughout the Americas. Financing interest in gold compa- nies also increased in 2019 when Sprott Capital Partners led a $32.5 million mid- year investment in Pure Gold Mining to advance Pure Gold's prospective Madsen Red Lake Gold mine in Ontario. In early December, Integra Resources announced it closed a $31.9-million financing that included participation from senior miner Coeur Mining, with the funds to be used to advance Integra's past producing DeLamar and Florida Mountain Gold proj- ects in Idaho. Also in early December, Osisko Gold Royalties announced a $14-million financ- ing in Minera Alamos to facilitate the construction of Minera's Santana heap leach gold mine in Sonora, Mexico. I am of the view that 2018-2019 was the time the mining industry prepared itself for a pros- perous new era to come. The price of some key commodities has also been signaling a dramatic change in market sentiment. Recently, the price of gold signaled a new bull market in early June of last year when the price of the yel- low metal surged up through a previous resistance level of US $1,350/oz and in only three months established a new intermedi- ate high of US $1,550. From there the gold price consolidated at or near US $1,500 until year-end 2019. This sharp rise and sideways consolidation has formed a clas- sic and bullish 'Flag' chart pattern for gold and in early January – gold has broken above US $1,525 to once again challenge the US $1,550 high. With the first quarter of the year traditionally being gold's stron- gest, gold is indicating that new short-term highs appear to be on the horizon. Going back still further and perhaps more for you old timers like myself, gold bullion made its historic run from US $275/oz at the turn of this century to its new all-time high of about US $1,900 in TSXV : NOU OTCQX :NMGRF FSE : NM9 LARGEST GRAPHITE DEPOSIT OF THE WESTERN WORLD TARGETING COMMERCIAL PRODUCTION IN 2022 NOUVEAUMONDE.CA 1 833-GOT-GRAF | #GOTGRAF JUNIOR MINING