- Gold continues to post record highs despite recent volatility
- Gold price broke previous 2011 ceiling of $1921 per ounce
- KGS plans to increase gold production at historic gold mining sites using new technologies
- KGS entered into option agreements to obtain 100% ownership of the Mohave Project in Arizona and Cadillac East Property in Quebec, Canada
Despite negative headlines focused on recent price drops (http://ibn.fm/XCUAS), the price of gold continues to set record highs, eclipsing the effects of recent volatility. Kingman Minerals (TSX.V: KGS), a Canada-based mining company focused on the acquisition, exploration and development of gold and silver properties in North America, is planning to increase gold production in anticipation of rising prices by sourcing and developing historic mining sites for new drilling campaigns that extract the remaining wealth using innovative, safe and cost-effective technology.
The price of gold recently took a “plunge” according to experts at Forbes closing at nearly $1,900 at the time of printing. While the noted drop in the price was substantial, this level is still among the highest seen so far in 2020, and not far off from its record high of $1,921 last seen in 2011 (http://ibn.fm/um1oP). While stock markets may be experiencing extreme volatility as a result of recent economic events, the value of gold continues to endure, prompting investors to keep shifting capital into “safe haven” assets like precious metals as a measure to protect the value of their wealth amid fears of inflation, overvalued stocks and other events upending the global economy.
KGS anticipated the rising trend of gold prices long before they reached this critical point, sourcing historic mining sites throughout North America as part of its production strategy aimed at extracting the remaining gold left behind by previous generations through the use of modern technology. Two notable properties of interest include the Cadillac East Property in Quebec, Canada and the Mohave Project located in Arizona – both offering potential for the profitable production of gold, positioning KGS favorably to investors looking for stable assets that can withstand short-term price volatility.
The Cadillac East Property is located approximately 55 kilometers east of Val d’Or, a key mining and exploration hub located in Quebec, Canada. Following extensive geophysical and geological surveys, KGS recently acquired an interest in the property from an arm’s length vendor with an option agreement to earn 100% over three years. Besides its 12 lode claims, the area was also identified by Exploration Facilitation Unlimited Inc. in 2017 as having potential value in other metals that include silver, copper, zinc and nickel (http://ibn.fm/Dvp8B).
The Mohave Project, another key property in KGS’s portfolio, comprises 20 lode claims that include the historic 167-hectare Rosebud Mine. Originally discovered in the 1880s, some wealth remains, according to studies conducted in the 1980s that estimated 664,000 ounces of gold and 2,600,000 ounces of silver. The company has recently completed two underground reconnaissance and sampling programs and is in the process of verifying these estimates by commissioning a report to be completed by Burgex Inc. (http://ibn.fm/49jNP), a consulting services company that specializes in the analysis of abandoned mining sites throughout the western United States.
Based in Canada, KGS is poised to benefit from current economic conditions through its strategy of developing a diverse portfolio of high-quality, lifelong mining assets. Through its strategy focused on exploring, acquiring and developing gold and silver properties in North America, the company continues to provide value to shareholders looking to diversify their portfolios with safe investments of enduring value.
For more information, visit the company’s website at www.KingmanMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to KGS are available in the company’s newsroom at http://ibn.fm/KGS
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