Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
True Gold Mining (CVE: TGM) announced Monday the construction of the fresh water reservoir on the proposed Karma gold project site is now complete.
The reservoir will provide sufficient water for the Vancouver-based junior company’s construction and operational needs, as well as for local communities in Burkina Faso.
The Karma project site is located on the north of Burkina Faso and is expected to produce 97,000 ounces of gold per year over an 8.5-year mine life.
The construction was completed ahead of schedule and under budget, said the company, and will eliminate future water-related project risks.
The company launched an aggressive drill program at its Karma project site last week following a successful exploration last year.
There are handful of Canadian mining companies in Burkina Faso including Semafo (TSE:SMF) and Roxgold (CVE:ROG) which reported a set of spectacular drill results from its Yaramoko project in the country last week.
Burkina Faso is the continent’s fourth largest gold producer after Mali and has commissioned eight new mines over the past six years.
