Gold and silver are likely to move higher shortly.

Calibre posted a net income of $3.1 million for the quarter on revenue of $57.8 million.

Highlights of infill drilling include 9.2 metres of 66.8 g/t gold and 10.5 metres of 106.3 g/t gold.

The company drilled seven holes totalling 2,190 metres to follow up on areas identified during its three previous drill campaigns.

Unlike normal rallies, the buying driving this one largely hasn’t come from gold’s usual primary drivers.

Many analysts are sceptical about the government idea, given that South Africa's mining industry is in decline.