Hunan Gold shares surge after large deposit found in China
The Geological Bureau of Hunan Province said on Thursday that it had detected more than 40 gold veins containing an estimated 300 tons of the precious metal.
Canada’s Kirkland Lake Gold (TSX, NYSE: KL) is taking advantage of the deal making boom in the global bullion sector by launching an online tool to help attract, assess and refine investment opportunities.
The new corporate development initiative, named KL Gold Deal Room, was created with the collaboration of technology firm VRIFY.
The miner has outlined a set of criteria to evaluate assets that may have the potential to complement its growth strategy.
Kirkland Lake said it would consider possible strategic investments, joint ventures and merger and acquisitions (M&A) opportunities.
“Using the KL Gold Deal Room, companies with assets that require capital, and meet these criteria, are invited to make online submissions to the KL Gold Deal Room using one standardized format that can be accessed anywhere, anytime,” it said in a statement.
The miner has launched the KL Gold Deal Room, an online tool to help attract, assess and refine investment opportunities
“We believe informed decisions are better decisions, and by utilizing VRIFY Deal Room, Kirkland Lake Gold will be one of the most informed companies in the world,” Stephen de Jong, the founder, president and CEO of VRIFY said.
“We are looking to grow shareholder value by investing in new, high-quality gold projects that, with the benefit of our capital and expertise, have the potential to become world-class mining operations,” noted Tony Makuch, president and CEO of Kirkland Lake Gold.
Kirkland said it would be interested in all sorts of gold projects, including those with by-products in a variety of jurisdictions, such as Canada, Australia, Europe, New Zealand and Latin America.
The news come at a time gold prices have climbed past $1,400 an ounce for the first time since 2013 following the US Federal Reserve comments on getting ready to decrease interest rates.
It also coincides with fresh geopolitical tensions triggered by an escalating military strike between the US and Iran, which has helped nudge investors into gold, with the precious metal poised to mark its highest finish in more than six years on Tuesday.
Analysts, including Citigroup Inc., see gold hitting $1,500 to $1,600 in the next 12 months under a bullish-case scenario.
Learn more about the Deal Room in this video:
VRIFY Deal Room from VRIFY Technology, Inc. on Vimeo.
Comments
Joseph Carrabba
Looking for investment in a high grade UG gold mine under development in Montana.
Permitted, toll mill accessibility, Mining staff in place.