The board also approved Papua New Guinea-based Lihir mine's front-end recovery project.

Graphic highlights how the value of US precious metal coin production compares to US money creation.

The company is on track to meet its full-year production guidance of 390,000 to 420,000 ounces.

"The prospect of a serious reserve crisis is looming," said Mark Bristow.

The Top 50 most valuable mining companies added $80.2 billion in market capitalization over the three months to end September.

According to the miner, the property covers ground prospective for vein-hosted precious metal deposits.

Risks surrounding the election may “be under-appreciated by precious metals markets,” according to Citigroup.