FinancialBuzz.com: Global Economic Concerns Boost Gold Prices

NEW YORK, January 17, 2017 /PRNewswire/ --

Gold prices have been increasing lately, and on Monday the U.S. gold futures were up 0.5 percent reaching $1,201.80 per ounce. This is a reaction to several political and macroeconomic concerns that drive demand for the safe-haven metal, including renewed Brexit worries as well as uncertainties related to the USA Presidential economic plans. As for the upcoming Presidential inauguration, Reuters reported, "Investors have been enticed into gold this month as questions over Federal Reserve policy and the Trump administration drive a bigger than usual January bounce in a beaten-down market… Hedge funds and money managers in the week to Jan. 10 raised their net long position in COMEX gold contracts for the first time in nine weeks, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday." Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM.V), YAMANA GOLD INC. (NYSE: AUY) (TSX: YRI), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Eldorado Gold Corporation (NYSE: EGO) (TSX: ELD), Goldcorp Inc. (NYSE: GG) (TSX: G)

Various news outlets in the United Kingdom are interpreting Prime Minister Theresa May's speech as planting the seed for a "hard" exit from the European Union, leaving the European single market as well. The Single Market refers to the EU as one territory without any internal borders or other regulatory obstacles to the free movement of goods and services. Investors and traders have expressed concerns that such measures may result in destabilizing the economy for the UK, EU and eventually the world.

Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM.V) is a Canadian based resource exploration company, which focuses on acquisition, exploration and development of mineral properties. Golden Dawn holds interests in resource properties in British Columbia.

Golden Dawn Minerals Inc. announced earlier today that the, "results from 2016 underground drilling, and revised results for one surface step-out hole at its 100% owned May Mac mine.

Repeat analyses on surface hole BF 16-26 indicate the original fire assay results announced in a news release dated December 12, 2016 were biased low. Additional check assays were done on a highly mineralized intercept for silver, gold and base metals by the same laboratory.

View section image at: http://www.goldendawnminerals.com/wp-content/uploads/2017/01/May-Mac-Mine-Section-View.jpg

Three splits from one high grade sample (M253097) were re-analyzed for Ag by Fire Assay and 4Acid digestion assay. The repeat analyses indicate the original fire assay result was biased low. For gold, replicate analyses by fire assay with gravimetric finish verify the initial reported result by FA-ICP. Check assays for lead show that for samples with > 5% Pb the 4Acid "near-total" digestion technique is not appropriate, as it shows a significantly low bias, and that an Aqua Regia digestion or Peroxide Fusion assay is required for full Pb recovery. No bias was detected in the analyses for zinc and copper. In summary, check assays returned much higher values for silver and lead.

The Company will resume May-Mac Mine underground diamond drilling by Jan. 21th, 2017 from drill station #3, followed by stations #2 and #1…The Company is preparing additional requested backup information to support its permit application submitted last November. The application covers the extension of the May Mac 7 Level drift to the northwest and excavation of a bulk sample of up to 10,000 tonnes, to be processed in the Company's Greenwood Mill, 15 km southeast of the May Mac Mine.

The company will continue underground as well as surface exploration diamond drilling to locate a source of mill feed from the May Mac Mine to add to the future production from the company's Lexington and Golden Crown Mines. Both of these mines have drilled out tonnage in the inferred, indicated and measured categories (see N.R. of Feb 24, 2016).

The Company is scheduled to complete a National Instrument 43-101 Technical Report within a week on the Greenwood properties of Kettle River Resources Ltd., which are subject to a Letter of Intent for acquisition from New Nadina Resources Ltd. The Kettle River land package consists of approximately 12,000 ha. of mostly contiguous land covering 70 showings and 30 historic mines in the Greenwood mining camp, including the former Phoenix copper-gold mine."

YAMANA GOLD INC. (TSX: YRI) (NYSE: AUY) is a Canadian-based gold producer with development stage properties, exploration properties, and land positions throughout the Americas including Brazil, Argentina, Chile, and Canada. Yamana plans to continue to build on this base through existing operating mine expansions, development of new mines, advancement of its exploration properties and by targeting other gold consolidation opportunities with a primary focus in the Americas. Recently the company announced an update relating to negotiations with unions at its mines in Chile. As part of the collective bargaining renewal process, Yamana has been in negotiations with unions representing workers employed at El Peñón and Minera Florida. Collective bargaining agreements have been entered into at Minera Florida, and the mine and plant are operating at full capacity.

Kinross Gold Corporation (TSX: K) (NYSE: KGC) is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The company has mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Earlier in October Kinross Gold announced that it has agreed to a new three-year collective labor agreement with unionized employees at its Tasiast mine in Mauritania. Tasiast resumed normal mining and processing activities in mid-August after resolving the expatriate work permit issue, which was part of the Mauritanization plan agreement.

Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company's activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania. Recently Eldorado announced that the Company has completed the sale of its respective interest in the White Mountain and Tanjianshan Mines and Eastern Dragon Development Project to an affiliate of Yintai Resources Co. Ltd. Paul Wright, President and Chief Executive Officer of Eldorado Gold said, "This closing marks the conclusion to Eldorado's 11-year history in China.  We would like to acknowledge the dedication and hard work of all of our Chinese employees and staff throughout this period… We are very pleased to have completed the monetization of our Chinese assets and look forward to advancing our internal project pipeline with the enhanced financial flexibility resulting from the sale process."  

Goldcorp Inc. (TSX: G) (NYSE: GG) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company has recently announced that it has entered into a share purchase agreement with Leagold Mining Corporation, according to which it has agreed to sell its Los Filos Mine in Mexico to Leagold. Under the terms of the Agreement, Goldcorp will receive estimated consideration of $438 million, consisting of $279 million in cash, $71 million in Leagold common shares, and retain certain tax receivables of approximately $88 million.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and pr marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com has been compensated ten thousand dollars for financial news dissemination and pr services by a third party non affiliate for golden dawn minerals inc. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on this site along with other financial news PR media services. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:
Media Contact: info@financialbuzz.com , +1-877-601-1879

SOURCE FinancialBuzz.com