This compilation of financial insights includes videos from RJ Talks, Lena Petrova, and Kitco News.
RJ Talks discusses what just happened to oil prices could change everything for the Fed’s inflation fight. Lena Petrova says China is dumping US treasuries to buy record amounts of gold as the US Dollar outlook weakens. Luke Alexander joins Kitco News to discuss Newcore Gold advancing the Enchi project in Ghana as they find more gold per square kilometer than the size of Nevada.
Sep 19, 2023
The price of oil is on the rise, moving consistently higher for the past month. Brent is now trading around $95 a barrel. With OPEC cutting production, and limiting supply. Why is this important? Does higher oil prices, higher energy prices translate to only higher headline inflation numbers, or does it also spill into higher Core CPI numbers? Well we answer this question in today’s video.
With a new report released by Morgan Stanley who delves into this question, their analysts did the research and give us the answer to how much higher we can expect to see core inflation move should oil prices continue to move higher and hover over $100 a barrel.
We also cover why energy prices are so high again, what type of foreign policy decisions lead us here, and what we can do to fix it. We also look at the strategic petroleum reserve, and how many days supply is left.
Do you think we’ll see triple digit oil prices before the end of 2023?
Lena Petrova, CPA – Finance, Economics & Tax
Sep 19, 2023
China Dumps U.S. Treasuries To Buy RECORD Amounts Of Gold As The U.S. Dollar Outlook Weakens
Sep 19, 2023
Ghana is a great mining jurisdiction, according to Newcore Gold CEO Luke Alexander.
Alexander spoke to Kitco in mid-September at the Precious Metal Summit 2023 in Beaver Creek, Colorado.
Newcore Gold (TSX-V:NCAU, OTCQX:NCAUF) is advancing its 100%-owned Enchi gold project in Ghana. The project is located along one of West Africa’s most prolific gold belts, according to the company.
This spring the company released an inaugural indicated mineral resource, showing 743,500 ounces of gold at an average grade of 0.55 grams per tonne (“g/t Au”) and totalling 41,736,000 tonnes.
“That’s the first time that we ever put out an indicated resource, which is another milestone in terms of de-risking the ounces that are in the ground,” said Alexander. “We also added inferred ounces, about 970,000 ounces… that grew the overall size of the resource.”
The mine would be an open pit with heap leach potential. The capital expenditure would be low, and the project could be built in stages rather than a large upfront investment.
“It’s very easy to scale up or down depending upon what size project we want to build,” he said.
Alexander touted the company’s location in the country. Ghana produced about 4.5 million ounces of gold in 2022, surpassing South Africa’s production of about 3.3 million ounces. Ghana produces more gold per square kilometer than Nevada. The country has a strong presence of senior producers in-country including Newmont, Gold Fields and Anglogold Ashanti.
Management also has skin in the game. Collectively, management has a 20% stake in Newcore Gold, aligning the company with investors.
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