Now that the coronavirus crisis is seemingly under control in most countries, it is time to cautiously begin exploring what the future may hold. In terms of gold mines and precious metal producers, there are some very intriguing developments looming on the horizon.
A Major Latin American Partnership
Given everything that has transpired during the first four months of 2020, it is evident that things are not looking very optimistic. Even the precious metals industry has noted severe setbacks across the board. Overcoming those hurdles will push its own set of challenges, but there is a glimmer of hope on the horizon.
The first positive news comes out of Latin America. A new partnership between Gran Colombia Gold, Guyana Goldfields, and Gold X Mining may be in the works. If successful, this joint venture will become a major Latin American-focused intermediate gold producer. More importantly, it will be a venture focused on future growth, which can have global consequences in due time.
More specifically, Gold X is in the process of being acquired by Guyana Goldfields. When this deal is concluded successfully, the business collaboration with Gran Colombia Gold Corp. will commence. From that point forward, the combined entity will go by the name of Gran Colombia under the management of the current Gran Colombia executive team.
Creating a new Latin American intermediate gold producer will be very beneficial to the region. A stronger combined entity has the potential to realize further value for all parties involved.
Canada’s Pure Gold Mining Expects a Good Q4
On the other side of the equator, Pure Gold Mining Inc. has some positive news to report as well. The Canadian gold mining company has successfully begun mine construction activities at the PureGold Red lake Mine in Ontario.
Despite the coronavirus crisis, the construction has not been pushed back in a significant manner. As such, company officials remain confident that the first gold pour will occur at some point before the end of 2020. All construction work is done by maintaining health and safety precautions for all employees and contractors.
Similar to the Latin American venture above, the main objective is to ensure further growth. Red Lake camp is one of the world’s largest gold-producing districts today. Pure Gold Mining Inc expects to become a major senior gold producer in the region. With work progressing as expected, the coming months will become crucial to ensure that this new mining operation