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The #LEX Phase 2 drill campaign was designed to upgrade the initial maiden JORC resource estimate at Loflin and establish a maiden JORC resource estimate for Jones-Keystone, which should result in an enhanced combined JORC resource estimate for JKL…
londonstockexchange.com/news-article/L…
This is a long read but relevant to investors in Lex
GOLD Price Projection (based on the following 68 industry analysts)
More and more analysts are projecting that gold will be going at least as high as $3,000/oz over the next few years. One even claims that gold will spike up to $87,500/oz.!
Below is a revised list of their names and stated rationale for each of their forecasts.
$50,000+ Gold
1. Jim Sinclair: $50,000 in 2025 and to $87,500 by 2032
In a recent YouTube video Sinclair said that, with so many U.S. Dollars being printed to uphold the economy as a result of COVID-19, that Gold will rise to $50,000/oz. (i.e. go “straight-up” in Sinclair’s words) at the end of the 45-year gold cycle which is coming up in 2025 and rise up to $87,500/oz. by the end of 2032.
$25,000 Gold
1. Erik Lytikainen: $25,000 by 2030
“We will not be surprised to see $25,000 per troy ounce of gold by the year 2030. It will likely be a volatile ride higher, with large drawdowns along the way.”
2. Martin Armstrong: $25,000
“Gold should theoretically sell for $25,000 a troy ounce, given the monetary prolificacy since 1980”…in reference to the ever-soaring $3.3 Trillion U.S. budget this year, alone.
$20,000 Gold
1. Goldrunner: $20,000 between mid-2028 and end of 2029
“As a result of the recent massive paper money printing, our chart work suggests that gold could possibly spike up to as high as $20,000 per troy ounce – or even a bit higher – sometime between mid-2028 and the end of 2029.”
2. Pierre Lassonde: $20,000 in 2 – 5 years
“Gold prices should skyrocket much higher levels, even $20,000/oz. in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index.”
3. Egon Von Greyerz: $20,000
“I believe a gold price of $20,000/oz. is very probable, even without high inflation.”
4. Leigh Goehring: $10,000-$15,000 by 2027-28
“Our target is between $10,000-$15,000 per troy ounce.,[by] 2027-28.”
5. Briton Hill: $5,000-$20,000 in next 5 to 10 years
“You can’t produce trillions of dollars with 0% interest rates and not introduce inflation. Long-term, we could be entering a cycle similar to the 1970s, where the precious metal sector rose by thousands of percentage points, and if we see something like that happen again in the next 5-10 years, we could easily see $5,000, $10,000, even $20,000 gold,” he said. “Gold could easily hit $20,000 per troy ounce in the next decade.”
$10,000 Gold
1. James Rickards: $10,000
“$10,000 per troy ounce is not pie in the sky. It’s not a number I pulled out of a hat to get headlines. It’s the actual mathematical implied non-deflationary price of gold.”
2. Daniel Oliver: $10,000
“The money to push gold over $10,000 per troy ounce has already been printed and now they are going to print more…No doubt strong fiscal and monetary intervention may extend its life for a time, but then the ultimate price objective for gold will then be markedly higher.”
https://www.londonstockexchange.com/news-article/LEX/half-year-report/15133468
Further good news.
CGR completed initial exploration work at the Argo project in North Carolina in 2017, with high grade grab samples from banded quartz veins including 12.65g/t Au, 8.06g/t Au, 6.80g/t Au and 5.85g/t Au. #LEX
Lexington's Argo project, 16km north of Nashville, North Carolina, has multiple historical pits and trenches evident at surface. It is a drill ready opportunity with
previous rock chip samples yielding High Grade gold assay results.
I copied this extract(excuse the pun) from a newsletter I receive.
The truth is, regardless of inflationary risk, I’d be looking at gold right now.
That’s because we’re entering a secular bull market in gold.
Here’s what that means:
Many assets — especially commodities — follow predictable patterns, on semi-predictable timelines.
Let’s take gold as an example.
Say that gold prices are relatively low. Indeed — they’re so low, that a lot of the stuff in the ground isn’t economical to dig up.
So, gold will remain low . . . until supply dries up. With fewer miners digging — and those mines aging — eventually demand will outstrip supply.
When that happens, prices start to rise.
As prices rise, miners that were sitting on the sidelines get in on the game.
In fact, as prices keep heading upward, it’s not uncommon for veins that had never been considered economical to start looking attractive.
More and more miners get in on the action, trying to take advantage of the high price of gold.
Until, eventually, demand outpaces supply to such a degree, gold prices start to fall again.
But that doesn’t matter for miners. Once a mine is operating, it makes sense to keep it operating as long as it’s profitable.
After all, it takes years to get a mine up and running. And a lot of the cost is front-loaded — as part of exploration and finding rich ore veins in the first place. Once that money has been spent — back in the boom times — the mine can just keep churning out gold.
Until, at some point, the price of gold drops so low, simple mining isn’t economical anymore. We’ve got a glut.
And the price will remain low, until we’ve worked through that glut.
At that point, demand will outstrip supply, starting the whole cycle all over again.
Just came across this recent talk on Lexington. Well worth listening to.
https://www.pscp.tv/StockBoxMedia/1MnGnlnODkjxO?t=10m32s