Mark Bristow: "Donlin Gold Is A Key Project For Barrick". Gold In The USA, The Alaskan Elephant Country: TNR Gold Shotgun Gold Project Presentation.

Joe Rogan, Elon Musk, Pyramids and mushroom trips nailed the local top for our young Gold Bull market at $2,078. The correction was fast and furious with Gold hitting a low of $1,870 this night. Now it is already snapping back and trading at $1,930. Let's see how really strong is this young Gold Bull. We are moving into a huge Cup and Handle formation with the handle to be built around $1,920 - the previous all-time high in 2011.

On a serious note, 'they' cannot afford Gold and aliens in one article. The system will blow up. Be ready.

For all people who prefer the more tangible news for the real hard assets, Mark Bristow confirms that Donlin Gold JV project with NovaGold in Alaska is currently a key project for Barrick Gold. You already know our strategy: to find all Gold that we have with a very strong strategic partner who has the capital and knows how to find it all in Alaska. NovaGold holds a stake in our Company and we are ready now for a major Gold mining company level due diligence with our freshly printed maps with Shotgun Gold mining claims in the great state of Alaska.

“The times in which we find ourselves bring the mining industry face to face with some particular challenges, but it is within which lies the opportunity of embracing gold’s unique value through which it reminds us of its ultimate purpose; its solid, dependable reliability throughout uncertain times that makes it such an ultimate hedge. TNR Gold’s strategy with the Shotgun Gold Project is to attract a partnership with one of the major gold mining companies. The Company is actively introducing the project to interested parties,” commented Kirill Klip, Executive Chairman of TNR. “We may be at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical research currently available to target drilling to expand the resource and form the basis of a preliminary economic analysis. The next step is to acquire a partner that shares our vision and recognizes the growth potential and value to be added to the Shotgun project over time.”

Kirill Klip continued, “We are building the green energy metals and gold company. Energy rEVolution requires secure supply lines of the critical strategic metals like copper and lithium. Our forward-thinking approach allows us to integrate our company into the international capital markets and mining industry in order to accelerate the development of Shotgun Gold Project and extend our royalty portfolio in Green Energy Metals, potentially adding to our core royalty holdings on the Los Azules Copper Project with McEwen Mining and the Mariana Lithium Project under the management of Ganfeng Lithium.” 

TNR Gold Shotgun Gold Project Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions. 

Do Your Own Research.

Mining Weekly:

Barrick says more noncore disposals to come

Canada’s Barrick Gold has met the $1.5-billion disposal target it had set in 2018 and CEO Mark Bristow said this week that the group could shed more noncore assets, particularly in the current gold price environment.

“The higher gold price turns some of our smaller assets within our portfolio into something that is quite attractive, and we have a number of those,” he said, adding that these might well prove to be the sort of foundation for start-up initiatives. While the big ticket noncore disposals were Barrick’s 50% interest in Kalgoorlie Consolidated Gold Mines, which holds Super Pit, in Australia, and the sale of Massawa, in Senegal, the group has also cleaned up equity positions and ownership of smaller projects.

“There were lots of transactions we’ve done, sort of $5-million, $10-million, $15-million, tidying up the portfolio,” Bristow said during question time in its second-quarter results presentation, pointing to its latest announcement of a definitive agreement over Eskay Creek, in Canada. Junior Skeena Resources will acquire the gold and silver project, in the Golden Triangle of north-west British Columbia. As a result, Barrick will become a shareholder in Skeena.

“We’re a big shareholder in that project and we’ll manage our way out of it over time, and we’ve still got others to do."

When questioned about whether Barrick is considered “more of a seller than a builder” in the Donlin Gold project, in Alaska, Bristow said that the asset was currently a key project for the group.

“If you look at Donlin compared to some of the other assets in our portfolio, it's a pure gold play. It fits – it's in a mining-friendly jurisdiction. It's just in a very challenging geographical setting."

He puts the project's risks into three categories: Construction risk because of its location, capital risk because of its size and geology risk.

"[Geology] is something we can de-risk," Bristow said. Barrick and Donlin co-owner NovaGold have employed some “really quality skills” at the project to deal with the geological risks.

A drilling programme is currently under way at Donlin, which has yielded encouraging initial results.

“Once we have a clear definition of the reserves and more importantly, the shapes of the ore bodies, we can then set with confidence the mining plan and, more importantly, the rate at which we can mine, which of course will set the amount of gold that we can produce on an annualised basis, and then all the rest is able to be measured against that.”

“But it's still early days. We've got another 90% of that drill programme to finish."

The 2020 drilling programme is the largest campaign at Donlin since 2008, and aims to validate the recent geological and resource modelling controls that the partners developed.

Novagold recently had to fend off criticism from a short-selling firm and a class action law firm over, among others, claims that Barrick reportedly did not “even include Donlin in its ten-year plan”.