GGLDF - BRICS Gold-Backed Currency Talk Gains Traction; Could Upend Global Finance
2023-08-24 13:02:38 ET
Recent developments indicate the long-rumored %GoldBackedCurrency from the %BRICS alliance may soon become a reality. According to industry experts , the introduction of a new gold-settled trade currency backed by Brazil, Russia, India, China and South Africa is inevitable.
At their annual summit this year , it was revealed that the BRICS New Development Bank is evaluating options beyond major reserve currencies like the dollar and euro.
Moving forward with a new currency would represent the latest move by BRICS nations to break free from the dominance of the US dollar in global finance and trade. While details remain uncertain, a gold-backed BRICS currency would likely trigger major turmoil and a seismic shift in the global monetary order.
The BRICS alliance represents over 40% of the global population and 25% of global GDP. Their actions pose a direct challenge to the dollarized world order. Major shockwaves through currency and gold markets seem inevitable as momentum builds toward establishing a new global monetary framework.
For savvy investors, an opportunity awaits to capitalize on the market disruption such a currency reset would cause. Advanced junior gold mining stocks represent promising exposure, and with fundamentals still favorable for gold amid economic uncertainty, select exploration companies offer upside leverage from potential major discoveries.
One standout is %GetchellGold (CSE: ) (OTCQB: ), which is advancing its district-scale %FondawayCanyon gold project in Nevada. The company’s recent drilling success doubled the project's amount of reported gold-in-the-ground earlier this year and reveals that significant additional upside potential remains. Getchell is primed to benefit from a rising gold tide triggered by the game-changing introduction of a new BRICS currency.
Fondaway Canyon Project, a Prime US-based Gold Asset
With gold fundamentals looking increasingly robust amid global uncertainty, Nevada-focused junior miner Getchell Gold Corp. ( CSE:GTCH , OTCQB:GGLDF ) represents a promising value opportunity.
Getchell is advancing its flagship Fondaway Canyon gold project, located in the nation’s premier mining jurisdiction, at a pivotal moment for precious metals. While uncertainty is swirling around global monetary order, Getchell offers exposure to a major US-based gold asset led by a seasoned management team with over 75 years of combined industry experience and a proven track record of success.
CEO William Wagener , who possesses over 45 years of global mining expertise – alongside President and Director Mike Sieb , a senior executive with 30+ years in the sector – are focused on unlocking value at the large-scale, high-grade Fondaway Canyon gold project.
Making the Grade
Getchell Gold’s sustained drilling success over the last three years has driven substantial resource growth at Fondaway Canyon, leading to an updated mineral resource estimate (MRE) announced earlier this year. The MRE outlined an Indicated Resource of 550,000 ounces gold and an additional Inferred Resource of 1.5 million ounces gold. Importantly, mineralization remains open in multiple areas with strong grades intersected in the most peripheral drill holes, illustrating the deposit’s immense upside opportunity.
Building on this exploration success, Getchell r ecently received authorization for 12 additional drill pads at Fondaway Canyon . As the extents of this large deposit remain untested, these new pads will facilitate aggressive step-out drilling aimed at significantly expanding the current resource. Yet despite substantial gold ounces and clear upside at its flagship asset, Getchell retains a modest $20 million valuation. For investors seeking overlooked leverage to the gold price, Getchell warrants a deep dive as a value play during a unique global economic scenario.
About Getchell Gold Corporation
Getchell Gold (CSE: GTCH | OTCQB: GGLDF) is a publicly listed gold exploration and development company delineating a potentially Tier-1 gold resource at its flagship Fondaway Canyon project in Nevada, USA. Following consecutive successful drilling programs since 2020, the Company has effectively doubled the size of the historic resource, placing the Fondaway Canyon project firmly into the multi-million-ounce resource category. Getchell Gold is perfectly positioned to continue expanding its resource with plans to rapidly advance towards a Preliminary Economic Assessment.
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