PALM BEACH, Fla., Sept. 7, 2023 FinancialNewsMedia.com News Commentary 

/PRNewswire/ — The majority industry reports project that the gold ore market should continue to see significant growth in the near and long future. Gold ore is a type of rock that contains gold mineral or particles in sufficient quantities to make it economically viable to mine and extract the gold.  A report from ReportLinker projected that: The global gold ore market is expected to grow from $16.03 billion in 2022 to $17.86 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. It added that the gold ore market is expected to reach $26.96 billion in 2027 at a CAGR of 10.8%.  The report said: “The main gold ore mining methods include placer mining, hard rock mining, and others. Placer gold mining is the method of using water to excavate, transport, concentrate, and recover heavy minerals from placer deposits (collections of gold existing in discrete particles or mixed with sand).  The applications include cupellation method refining, inquartation method refining, miller chlorination process refining, Wohlwill electrolytic process refining, and aqua regia process refining used in investment, jewelry, and others.”  Active Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Harmony Gold Mining Company Limited (NYSE: HMY), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Sandstorm Gold Ltd. (NYSE: SAND), (TSX: SSL), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX).

ReportLinker continued: “Gold is extracted from the gold ores by using the gold mining process, and the extracted gold is then converted into a form such that it can be used for making gold jewelry. Gold jewelry refers to ornaments that are made of gold as a primary material.  The increase in demand for gold jewelry propelled and is driving the growth of the gold ore market.  Technological advancements are a key trend gaining popularity in the gold ore market. Companies operating in the gold ore market are adopting new technologies to sustain their position in the market.”

Asia Broadband Inc. (OTCPK: AABB) BREAKING NEWS – Asia Broadband Signs Letter of Intent to Acquire High-Grade Gold Property in Jalisco Mexico –  Asia Broadband Inc. (“AABB” or the “Company) is pleased to announce that the Company has signed a Letter of Intent (LOI) to acquire a high potential property in the prolific mining region of Hostotipaquillo, Jalisco, Mexico. The 4,081 hectare high-grade acquisition target concession #239735 named Picachos IV is located a rapidly developing area and is adjacent to GoGold Resources Inc.’s (TSX: GGD) OTCQX: GLGDF) Los Ricos South property. The Picachos gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.

In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to acquire the new mining concession.  AABB is expecting to confirm high-grade assay results in the coming weeks from the Company’s initial due diligence activities on the property, as the mapping and rock sampling program continues. Company management is exhilarated with the Picachos project for its potential for rapid development, high production and low operating costs.

“The Picachos property is a key strategic acquisition for the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward”, expressed Chris Torres, the Company President and CEO.

AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.   CONTINUED…  Read this full release for Asia Broadband at:  https://www.financialnewsmedia.com/news-aabb/ 

Other recent developments in the mining industry include:

Harmony Gold Mining Company Limited (NYSE:HMY) recently announced its financial and operating results for the year ended 30 June 2023 (FY23).

“Our investment in our people, quality ounces and operational excellence continues to yield results. Over the past few years, we have shown resilience and demonstrated our ability to deliver to plan. We have created the necessary flexibility to maintain the strong momentum we have built at our mines. Our cost base is stable and predictable and we have implemented good controls ensuring our cost increases are in line with our plans. We have improved our safety performance and engineered a higher quality and diversified portfolio. As a result of our operational consistency and strong free cash flows, we have declared a full-year dividend of 75c per share, rewarding our shareholders alongside our growth aspirations. What we achieved in this financial year demonstrates we are succeeding in our goal of ‘Mining with Purpose’”, said Peter Steenkamp, chief executive officer of Harmony.  See the full report for Harmony Gold by clicking the link above.

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Kinross Gold Corporation (NYSE: KGC) (TSX: K) recently announced that the Toronto Stock Exchange (the “TSX”) has accepted the notice filed by the Company to renew its normal course issuer bid (“NCIB”) program.  Under the NCIB program, the Company is authorized to purchase up to 108,440,227 of its common shares (out of the 1,227,579,280 common shares outstanding as at July 31, 2023) representing up to 10% of the Company’s public float of 1,084,402,272 common shares, during the period starting on August 9, 2023 and ending on August 8, 2024.

In deciding to establish the NCIB program, the Company believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly the purchase of the common shares would be in the best interest of the Company and an attractive and appropriate use of available funds.

Sandstorm Gold Ltd. (NYSE: SAND), (TSX: SSL) has recently released its results for the second quarter ended June 30, 2023 (all figures in U.S. dollars).

SECOND QUARTER HIGHLIGHTS WERE:  Record revenue of $49.8 million (Q2 2022 — $36.0 million); Attributable gold equivalent ounces1 of 24,504 ounces (Q2 2022 — 19,276 ounces); Cash flows from operating activities, excluding changes in non-cash working capital1 of $38.0 million (Q2 2022 — $21.9 million); Average cash cost per attributable gold equivalent ounce1 of $228 resulting in cash operating margins1 of $1,744 per ounce (Q2 2022 — $273 per ounce and $1,593 per ounce respectively); Net income of $2.7 million (Q2 2022 — $39.7 million);

Sale of Antamina NPI and closing of Horizon Copper transaction: In June, Sandstorm closed the final component of its previously announced arrangement with Horizon Copper Corp. (“Horizon Copper”) to sell a portion of the Company’s Antamina royalty in consideration for a silver stream, debt, equity, and cash. The transaction furthers Sandstorm’s strategy to acquire precious metal streams on high-quality copper assets. With the closing of the Antamina sale, Horizon Copper is positioned as a competitive copper company with a portfolio of high-quality cash-flowing and development stage copper assets; and Share buybacks: During the six months ended June 30, 2023 and under the Company’s normal course issuer bid, the Company purchased and cancelled approximately 2.8 million common shares for total consideration of $14.2 million.

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) recently announced that following the August 24, 2023 closing of a private placement of units (the “Private Placement”) by Cascadia Minerals Ltd. (“Cascadia“), Barrick’s 2,788,696 common shares of Cascadia represent approximately 7.6% of Cascadia’s outstanding common shares. Barrick did not acquire any securities in the Private Placement and, as a result of the Private Placement, Barrick has ceased to be an insider of Cascadia pursuant to Canadian securities laws.

Barrick is holding its Cascadia common shares for investment purposes. Depending on market conditions and other factors, including Cascadia’s business and financial condition, Barrick may acquire additional common shares or other securities of Cascadia or dispose of some or all of the common shares or other securities of Cascadia that it owns at such time.  An early warning report will be filed by Barrick in accordance with applicable securities laws.

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