3 Gold Stocks To Watch In January
In 2019, the gold rally proved to be one of the more remarkable happenings in the world of finance, and the United States-China trade war triggered much of the rally. Investors rushed to protect their capital in an uncertain environment, and gold stocks proved to be a safe-haven investment.
In the New Year, the rally has continued due to the turmoil in the Middle East. On Monday, Canadian markets were open as the U.S. observed the Martin Luther King Junior Holiday. The TSX was lead by gold stocks while tech stocks lagged. The result was a sideways trend by the end of the day. But the positive out of this goes back to the move that mining stocks saw. In such a situation, here is a look at some gold stocks that could be tracked at this point.
Gold Stocks To Watch #1 B2Gold Corp
The first gold stock that could be put into the watch list by investors is that of B2Gold Corp. (BTG – Free Report). It had made an exciting announcement in recent days. Last week, the company announced that the indicated mineral resources at its Fekola mine in Mali had displayed a substantial increase.
B2Gold made the announcement after it had completed an infill drilling program at the site. It is a significant development for B2Gold, and it could prove to be a significant positive for the stock during this gold rally.
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This week the company reported the market on positive results from preliminary economic assessment for its Gramalote Project in Colombia. It also assumed the role of the manager in the Gramalote Joint Venture between B2Gold and AngloGold Ashanti Ltd. (AU – Free Report). Will this latest update result in further extending gains seen last week?
Gold Stocks To Watch #2 Taseko Mines
The other gold stock that could be on the radar of many investors during this rally is Taseko Mines Ltd (TGB – Free Report). However, the latest announcement from the mining company is not about its gold production. Taseko announced recent technical work on the Yellowhead Copper Project in Central British Columbia has resulted in a 22% increase in recoverable copper reserves.
The optimizations and modifications we have made are not only beneficial to the economics of the project but will also improve it from an environmental assessment process standpoint. The leverage this mine has to metal prices is huge, and with only a 10% increase in these assumptions, the pre-tax NPV climbs to C$2 billion .”Russell Hallbauer , Chief Executive Officer, of Taseko
It is a massive development for the company and could help in its growth initiative moving forward. The gold rally could also help the stock in gaining momentum as well. Since early December, shares of TGB stock have managed to climb by more than 50% so far.
Gold Stock To Watch #3: Alamos Gold Inc.
Finally, Alamos Gold Inc. (AGI – Free Report) has recovered over the last week or so. After reaching highs of $6.14 at the start of the year, AGI stock pulled back to lows of $5.40 early last week. Since then, Alamos Gold has managed to climb back by 6.7%.
Last week the company reported new results from exploration drilling at its Island Gold Mine. It further extended the high-grade gold mineralization past its existing resources at all 3 of its focus areas.
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“We had another exceptional year at Island Gold operationally, financially and through the drill bit. The operation produced 150,400 ounces of gold in 2019, achieving a new record for the fifth consecutive year, and set a new record for free cash flow. With the ongoing exploration success, we expect further growth in Island Gold’s Mineral Reserves and Resources with our year-end update.”John A. McCluskey, President and Chief Executive Officer
Another exploration on a regional level is planned this year. It includes 10,000 meters of drilling. It will also evaluate and advance its targets outside the main Island Gold Mine area on the property.
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