Gold stocks have been a rather interesting sector to watch this year. The mining industry is full of companies that mine and refine gold. The process is usually mining, refining, dealing, and then selling. When less gold is available, the price will trend upwards, and vice versa. Gold stocks have been volatile in 2020, due to the current state of the economy.
The pandemic has not been kind to gold companies from an operational perspective. Many miners were forced to halt all production for a period of time because of it. This made a lot of logistical issues for gold companies as well. Delivery times were delayed, which made it harder for consumers to take delivery of the precious metal. Retail sales are still down in many places, which impacts the price of gold stocks.
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When news regarding a coronavirus vaccine or treatment is announced, it will be interesting to see how gold prices react. There are many top gold stocks to watch as we go into September. Although the market is volatile, there is room to make a profit if you do your research. Today we’re going to have a look at four gold stocks to watch.Top Gold Stocks To Watch In September: Freeman Gold Corp.
The first gold stock to watch is Freeman Gold Corp. (FMAN Stock Report). Freeman Gold is a mineral exploration gold company. The company acquires land, explores, and develops mineral properties in both Canada and the United States. The company also searches for silver and copper deposits as well. Recently, Freeman Gold initiated a 5000 meter diamond drill program at its Lemhi Mine.
The CEO and President of Freeman Gold, Will Randall, had this to say “We intend to commence drilling during the first week of September with the goal of completing the twin and infill program by November 2020, and the maiden resource estimate before year end. We are looking forward to drilling off this near surface, primarily oxide portion of the known mineralization, in what is our first phase of work at Lemhi. Subsequent work programs will focus on expanding the mineralization both on strike and at depth, which remain open in most directions.”
On August 28th, Freeman Gold announced that Major Drilling America Inc. was awarded the drill contract. Drilling is expected to begin on September 6th 2020, and presents an important date to keep in mind as this date quickly approaches. Will Randall said in a recent press release, “We are pleased to have Major working with us on Lemhi. They bring experience and size which will allow us to ensure on schedule drilling and the ability to increase drill rigs in a short time frame. The first rig is to be on the property during the first week of September 2020, which puts us right on schedule.”Top Gold Stocks To Watch In September: Tudor Gold Corp.
The next gold stock to watch is Tudor Gold Corp. (TUD.V Stock Report). Tudor Gold Corp is a resource exploration company which owns 100% of the Electrum Project. Tudor operated through acquisition, exploration, and development of mineral properties. Its properties are all based in Canada. Tudor’s Electrum Project covers an area of 650 hectares. Tudor has a 60% interest in the Treaty Creek project which covers 17,913 hectares. On August 22nd, Tudor issued 2 million stock options with an exercise price of $2.82 a share which expires on August 21st, 2024. These options are given to directors, officers, and consultants of Tudor.
Back in July, Tudor announced that it had completed its second set of diamond drill holes at its Treaty Creek property. Vice President of Project Development, Ken Konkin, said “For the second time this month, we are very pleased to have bettered the results obtained earlier from GS-20-57 which has an enriched interval that averages 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters) within an overall composite average of 0.845 gpt AuEq over 973.05m (34.50 to 1077.55 meters). Hole GS-20-65 was designed as a 100-meter undercut to drill hole GS-20-57. The result was a remarkable 348 meter intercept of 2.120 gpt AuEq within a larger 930 meter intercept of 1.161 gpt AuEq in drill hole GS-20-65.” These recent developments are reasons why TUD.V could be a gold stock to watch.Top Gold Stocks To Watch In September: Barrick Gold Corporation
This next gold stock, Barrick Gold Corporation (ABX.TO Stock Report) has a rather high volume. Barrick Gold is one of the largest gold producers in the world. It operates mines in 12 countries and has 71 million ounces and 13.5 billion pounds of proven and probable gold and copper reserves, as of the end of 2019.
Barrick recently announced that it is selling its 80% stake in the Morila gold mine in Mali to focus on tier one assets. Essentially, Barrick wants to focus on its other properties. Willem Jacobs, Barrick’s chief operating officer for Africa and the Middle East, said the proposed acquisition by Mali Lithium Limited “offered an opportunity for a new owner to extend the life of the mine by utilizing the existing infrastructure, applying different planning and evaluation criteria, and accessing additional satellite resources which would continue to benefit Morila’s in-country stakeholders.”
You also can’t forget about Warren Buffett’s recent stake in the company. This sent ABX stock surging earlier this month. Barrick gold stock has performed rather well in 2020. At the start of the year, the ABX stock price was at $23 a share, on average. Since then, ABX stock has gone up to $38 a share as of August 31st. Barrick Gold seems to have been able to stay afloat despite the troubles caused by the pandemic.Top Gold Stocks To Watch In September: B2Gold Corp.
The final gold stock to watch on this list is B2Gold Corp. (BTO.TO Stock Report). B2Gold Corp is a gold producer that operates 3 mines. These mines are in Mali, the Philippines, and Namibia. The mines owned are the Feloka Mine, the Masbate Mine, and the Otjikoto Mine. B2Gold corp also holds an 81% interest in the Kiaka Project based in Burkina Faso. B2Gold recently announced that it will continue operating its Feloka Mine in Mali despite the political situation in the country. The company states that operations will continue as normal.
BTO stock has performed quite well in 2020. At the start of the year, BTO stock was at $5.68 a share on average. In February to March, it dipped like many other stocks. Since then, BTO stock price has gone up to $8.81 a share on average. That is a 55% increase from early 2020. That is why BTO stock is on this list of gold stocks to watch.