FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Australian Gold set to Glitter in 2023

9 January 2023 12:00

After a shaky 2022, Gold has been fighting its way back up to the top, regaining some of the glory it lost over a very turbulent year. Building momentum, gold will have greater upsides in the coming year according to the World Gold Council’s 2023 gold outlook.

The report affirms that entering a mild recession could in fact be positive for gold prices, with recessions historically boosting gold prices. An elevated gold price alongside interest in the safe haven metal increasing as inflation continues to set in looks to create an optimal scene for an upward trend.

The outlook also cites renewed growth in the Chinese economy as a factor in favour of renewed interest in gold, also viewed as a safer choice in the chance of any further geopolitical flare-ups.

With gold set to regain its safe haven status next year, the stage is set for the Australian gold industry to explode, with numerous explorers looking to crack into the lucky country’s gold mining pedigree.

Recently listing on the ASX late last month, Taiton Resources (ASX:T88) plan to hit the ground running and is positioned to take advantage of a gold comeback as things begin to heat up at the explorer’s Lake Barlee Project in prosperous Western Australia.

The Project is located just 15 kilometres from Halley’s east, which has seen around 60 thousand kilograms of gold at an average grade of 10.6g/t Au mined and has a Greenstone-associated gold target at the project that has yet to be drill tested.

Also setting up shop in Western Australia is Miramar Resources (ASX: M2R), which holds three projects with numerous gold prospects across WA’s renowned East Goldfields, Murchison and Gascoyne regions.

Miramar turned heads recently when it pulled up intersections from its Glandore East Project in Western Australia’s legendary goldfields showing gold grades up to 1.39g/t Au from its northernmost drill hole, extending the project’s strike length to 600 metres.

With a wide range of projects across Australia and a focus on gold, an Au comeback would prove massive for Catalina Resources, targeting gold at its Kookynie and Dundas Projects in Western Australia, alongside its Lachlan Fold Belt Project in New South Wales.

The company has pending applications for land at the Laverton Gold Prospect in Western Australia, taking aim at gold mineralisation that could be related to the inferred 340,000 tonnes @ 1.4 g/t Au Lily Pond Well Deposit.

International explorers are also looking to capitalise on Australia’s gold renaissance, with London-based First Development Resources looking to strike big at its Wallal Gold-Copper Project in the world-class Paterson Province, home to Rio Tinto’s 503Mt North Winu Project.

The company now has drill clearance for the project and plans to step up exploration as the year progresses, with targets to drill geophysical anomalies that bear notable similarities to Greatland Gold’s 4.2Moz AuEq Havieron Project.

With bold predictions by the World Gold Council, recent six-month price highs and a combination of exciting projects unfolding, its looking to be a compelling year for the Australian gold sector.

MORE NEWS

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This