These Gold Penny Stocks Are Performing Well
The market for gold penny stocks has greatly went up in value in the last year. Gold penny stocks refer to gold assets that are valued under $5. Back in 2020, it seemed like a normal year for gold stocks. That was until March arrived and so did the global pandemic. This caused gold stocks to drastically fall in price. But this quickly changed. The economy and value of the dollar fell. This caused investors to move their assets to precious metals such as gold. This caused a rally for gold like it had never seen before. The momentum pushed gold prices past $2,000 per ounce at one point in 2020. But now we are in 2021, so where do things stand for gold? Well, the pandemic is still roaring onwards despite cases dropping.
With cases dropping, unemployment numbers are barely dropping, sometimes moving back up. This is what we have seen in the last few reports from the U.S. Labor Department in their jobless reports. Sometimes when the global markets are weak, gold can still perform well. This is something that has seen many times before. But how do you know which gold penny stocks are the best to invest in? Well, there is a few steps that could be taken in order to make the best choices. The first would be looking at the volume of an asset before investing. This can often tell the direction an asset may be moving in. Looking at news in the sector can also be helpful when deciding when to invest in gold stocks. It can be confusing to keep track of all of the gold assets that are trending. So let’s take a look at four gold penny stocks that are performing well in the market.
Top Gold Penny Stocks To Buy Or Sell
- Trilogy Metals Inc. (NYSE: TMQ)
- International Tower Hill Mines Ltd. (NYSE: THM)
- Gold Standard Ventures Corp. (NYSE: GSV)
- Great Panther Mining Limited (NYSE: GPL)
Trilogy Metals Inc.
The first gold penny stock to watch is Trilogy Metals Inc. Trilogy Metals is a base metals exploration company that explores for and develops mineral properties in the United States. The company has interest in the Upper Kobuk mineral projects such as the Arctic mine. It primarily will look for gold, silver, zinc, lead, and zopper. Let’s have a look at what the latest from Trilogy looks like.
On February 12th, the company reported its fiscal 2020 year end results. The company announced that its feasibility study for the Arctic Project was completed. Its cash position was strong at $11.1 million and $10.4 million in working capital by the end of 2020. The company expects to improve its business in 2021.
International Tower Hill Mines Ltd.
The next gold penny stock to watch is International Tower Hill Mines Ltd. International Tower Hill Mines is a mineral exploration company with a focus on acquiring and exploring for mineral properties. Its assets are located in Canada and the United States. It holds or has rights to projects like the Livengood gold project that covers 19,546 hectares in Alaska. Let’s take a look at the company’s latest updates and performance.
On January 12th, the company announced its 2021 budget and work program. The board of directors approved a 2021 budget of $5.6 million and endorsed an associated work program to advance the Livengood Gold Project. The CEO of the company, Karl Hanneman stated, “The gold market’s continued strength gives us strong motivation to advance our work to establish the best foundation to support future development”. That is the latest update that has come from International Tower Hill Mines Ltd.
Gold Standard Ventures Corp.
Now let’s talk about Gold Standard Ventures Corp. Gold Standard Ventures is an exploration based company. It will acquire and explore gold holding mineral resource properties located in Nevada. The company’s main property is the Railroad-Pinion project that covers 53,569 gross acres of land in Nevada. The company also has a 100% right in many other mining claims such as the Lewis Gold Project. Let’s see what this gold company has been up to recently.
On February 17th, the company announced a full exercise of over-allotment option and the closing of a CAD $34.5 million bought deal. Jason Attew, the CEO and President of Gold Standard said, “With the net proceeds from the Offering, we expect to be financed through the completion of our Feasibility Study and be able to continue enhancing the South Railroad Project.” The price of the over-allotment was at CAD $0.88 per share.
Great Panther Mining Limited
The final gold penny stock to watch is Great Panther Mining Limited. Great Panther is a mining and exploration company based out of Canada. The company explores for gold, silver, lead, copper, and zinc ores at its mines. These mines include the Tucano gold mine in Brazil, two silver mines in Mexico, among others. Let’s dive into what its recent advancements and stock price look like.[Read More] Is It Time For A Gold Stock Bounce Right Now?
The company announced last month that it achieved its 2020 guidance. Great Panther achieved production of 150,000 gold equivalent ounces in 2020. The President and CEO Rob Henderson stated, “We delivered on our 2020 production guidance and produced more gold last year than in 2019, despite the challenges of COVID-19. Our teams in Brazil, Mexico, and Peru did a tremendous job prioritizing health and safety, while still achieving profitable production and executing our exploration programs”. This company has seen lots of positive performance in the last year. That is what has caused it to make this list of the top gold penny stocks to watch. It will be interesting to see how GPL stock advances in the future.
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