Connect with us

Mining

Pelangio Exploration (TSX-V:PX)

Published

on

Pelangio snapshot

Pelangio Exploration is a junior gold exploration company that acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value.

Pelangio’s most recent success was the acquisition, exploration, re-envisioning and subsequent sale to Detour Gold of the Detour Lake deposit in northern Ontario (now has a 15.6 million ounce reserve and excellent growth potential). As at Detour Lake, Pelangio consistently focuses on acquiring large land packages in existing gold camps.

The Company is now seeking even greater success on its latest projects: the Manfo, Akroma and Obuasi Properties in Ghana, West Africa. Pelangio’s 100 square kilometre Manfo Property, which lies on the Sefwi greenstone belt between the Ahafo and Chirano mines, respectively operated by Newmont and Kinross, is the site of near-surface discoveries, both high grade and bulk tonnage, on seven separate targets. The 160 square kilometer Block A and Block B Akroma property is located north of the Sefwi belt and has geochemical targets for testing in 2013. The Company is also actively exploring its 290 square kilometre Obuasi Property, located on strike and adjacent to AngloGold Ashanti’s Obuasi mine, which has produced over 30 million ounces of gold since 1897.

For more information visit the Pelangio Exploration website.

Click for Comments

Mining

Charted: The Value Gap Between the Gold Price and Gold Miners

While the price of gold has reached new record highs in 2024, gold mining stocks are still far from their 2011 peaks.

Published

on

Line chart comparing gold price and gold mining stocks since 2000.

The Value Gap Between the Gold Price and Gold Miners

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Although the price of gold has reached new record highs in 2024, gold miners are still far from their 2011 peaks.

In this graphic, we illustrate the evolution of gold prices since 2000 compared to the NYSE Arca Gold BUGS Index (HUI), which consists of the largest and most widely held public gold production companies. The data was compiled by Incrementum AG.

Mining Stocks Lag Far Behind

In April 2024, gold reached a new record high as Federal Reserve Chair Jerome Powell signaled policymakers may delay interest rate cuts until clearer signs of declining inflation materialize.

Additionally, with elections occurring in more than 60 countries in 2024 and ongoing conflicts in Ukraine and Gaza, central banks are continuing to buy gold to strengthen their reserves, creating momentum for the metal.

Traditionally known as a hedge against inflation and a safe haven during times of political and economic uncertainty, gold has climbed over 11% so far this year.

According to Business Insider, gold miners experienced their best performance in a year in March 2024. During that month, the gold mining sector outperformed all other U.S. industries, surpassing even the performance of semiconductor stocks.

Still, physical gold has outperformed shares of gold-mining companies over the past three years by one of the largest margins in decades.

YearGold PriceNYSE Arca Gold BUGS Index (HUI)
2023$2,062.92$243.31
2022$1,824.32$229.75
2021$1,828.60$258.87
2020$1,895.10$299.64
2019$1,523.00$241.94
2018$1,281.65$160.58
2017$1,296.50$192.31
2016$1,151.70$182.31
2015$1,060.20$111.18
2014$1,199.25$164.03
2013$1,201.50$197.70
2012$1,664.00$444.22
2011$1,574.50$498.73
2010$1,410.25$573.32
2009$1,104.00$429.91
2008$865.00$302.41
2007$836.50$409.37
2006$635.70$338.24
2005$513.00$276.90
2004$438.00$215.33
2003$417.25$242.93
2002$342.75$145.12
2001$276.50$65.20
2000$272.65$40.97

Among the largest companies on the NYSE Arca Gold BUGS Index, Colorado-based Newmont has experienced a 24% drop in its share price over the past year. Similarly, Canadian Barrick Gold also saw a decline of 6.5% over the past 12 months.

Continue Reading
Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Popular