- Gold prices continue to rally due to economic conditions resulting from COVID-19 and other global events
- Gold prices rose by nearly 20% in 2019, projected to continue in 2020
- KGS increasing gold production at historic gold mining sites using new technologies
- Company entered into option agreements to obtain 100% ownership of Mohave Project and Cadillac East Property
Gold investment continues to increase as a result of the current economic landscape characterized by record unemployment, stock market volatility, and trillion-dollar stimulus packages that are sending public debt to unprecedented levels. Kingman Minerals (TSX.V: KGS), a Canada-based mining company engaged in the acquisition, exploration and development of gold and silver properties in North America, is set to benefit from this trend as investors continue to divert significant holdings into precious metals as a defensive measure against inflation, currency devaluation and the falling value of less tangible assets.
Gold prices rose by as much as 20% in 2019 to a peak of $1,549 per ounce by September (http://ibn.fm/mCqcG). Analysts at the Financial Post (http://ibn.fm/g9wQ4) believe 2020 will be another record year due to the same factors that drove the price up in 2019—including global trade issues, central bank interest rate cuts and volatile investment markets.
According to the World Gold Council, gold is one of the most liquid assets in the world, trading at an average daily volume of $112 billion – almost 5 times more than the Dow Jones Industrial Average (http://ibn.fm/bbSJn). Its liquidity makes it immensely popular with investors, particularly during periods of increased government spending, lowered central bank interest rates, and volatile investment markets.
KGS is leveraging this challenging economic situation by increasing gold production on historic gold mining sites using new technologies that extract the remaining wealth safely and cost-efficiently. With a focus on sourcing and developing high-quality properties in historically favorable mining jurisdictions, KGS recently entered into option agreements to purchase 100% interest in two key portfolio properties: the Mohave Project and the Cadillac East Property.
Located in the Music Mountains in Mohave County, Arizona, the Mohave Project comprises 20 lode claims that include the historic 167-hectare Rosebud Mine that was originally discovered during the 19th-century “Gold Rush” era. The Cadillac East Property is located in Canada’s Quebec province and consists of 12 gold claims in addition to other precious metals revealed in a soil program that identified silver, copper, zinc and nickel prospects. Despite the fact that most of the accessible resources have already been extracted from these properties, KGS plans to use modern mining techniques to tap into the wealth left behind by previous mining generations.
Based in Canada, KGS is formerly engaged in the acquisition, exploration and development of gold and silver properties in North America. With a strong focus on sourcing and developing properties of high quality with significant mining potential, KGS is poised to benefit from the volatile economic landscape through its strategy of developing a diverse portfolio of low-cost, lifelong mining assets.
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