Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Japan Gold (TSXV: JG) announced this week that it acquired five new gold projects in the Southern and Middle Kyushu Epithermal Gold Provinces located on the Japanese island of Kyushu.
In a press release, the Vancouver-based miner said the projects, which collectively comprise 21,058 hectares, cover prospective ground along strike of, or adjacent to, significant current and past producing gold mines including the Hishikari, Kushikino, Yamagano, Okuchi and Bajo mines.
In Southern Kyushu, the Hishikari mine has produced 7.6 million ounces of gold to date at average grades of 30-40 g/t Au, while the Kushikino mine has produced 1.8 million ounces at 6.7 g/t Au
The Southern Kyushu Epithermal Gold Province has yielded over 11 million ounces of gold from low-sulphidation epithermal deposits while the Middle Kyushu Epithermal Gold Province has yielded some 1.7 million ounces of gold from epithermal gold mines.
According to Japan Gold, the Ministry of Economy, Trade and Industry notified the acceptance of the new applications giving priority to the company over these areas and authorization to commence surface exploration.
“With the addition of these new projects, the company’s portfolio now includes 24 separate gold projects within the major epithermal gold provinces of Japan,” the miner’s media statement reads.
The year 2019 has seen the Canadian company making public a series of acquisitions, which prompted a 5.88% rise in the price of its shares in the past eight months.
