GTCH:CC - Unlocking New Investment Opportunities: The Potential of a Gold-Backed BRICS Currency
2023-07-20 09:14:14 ET
The world of %Gold investing is on the brink of a seismic shift as the emergence of a new gold standard looms on the horizon. Recent reports from state-run RT confirm that the %BRICS nations—Brazil, Russia, India, China, and South Africa—are preparing to introduce a trading currency backed by gold . The potential announcement has generated substantial interest in the gold market and the broader investment landscape. This move aligns with the ongoing trend of de-dollarization and aims to challenge the U.S. dollar's hegemony.
Central banks worldwide have been ramping up their gold purchases, seeking to diversify their reserves away from the U.S. dollar. Now, with the potential introduction of a gold-backed BRICS currency, the investment landscape is poised for significant transformations.
China's notable gold acquisitions have been interpreted by many analysts as an effort to enhance the international standing of the yuan. The current geopolitical climate further amplifies the appeal of alternative currencies backed by tangible assets like gold. Recent tensions between the U.S. and Russia, with the U.S. weaponizing the dollar in response to the Ukrainian conflict, have spurred development of currencies that provide insulation from such uncertainties.
"At first glance, a new transaction unit, backed by gold, sounds like good money—and it could be, first and foremost, a major challenge to the U.S. dollar's hegemony," Thorsten Polleit, Chief Economist at Degussa, commented during a Kitco News exclusive.
With imminent discussions surrounding the framework for a gold-backed BRICS currency anticipated at the next meeting of BRICS members in August – along with the increasing list of countries applying for membership – the market dynamics affecting the price of gold are poised for a seismic boost. Investors privy to the reverberation through the market that this shift would cause are positioning themselves to take advantage of a once-in-a-lifetime opportunity. A high-upside, low-risk potential move is getting in on the action through select small cap, advanced-stage gold exploration companies, especially with many of them having been artificially suppressed by this year’s market. A standout “undiscovered gem” in this category worth an overview is Nevada exploration company Getchell Gold Corp .
An Undervalued Blue-Chip Prospect with High-Upside Potential
%GetchellGold (CSE: , OTCQB: ) is a mineral exploration and development company focused on delineating and advancing a major gold resource in the United States. The Company's flagship asset is the %FondawayCanyon project, a large-scale, high-grade advanced-stage gold project located in Churchill County, Nevada.
GTCH is comprised of an experienced management team with a proven track record, led by CEO William Wagener, who has over 45 years of global mining experience. Mike Sieb sits as President and Director, a senior executive with 30+ years of experience in the sector.
Fondaway Canyon: A World-Class Gold Deposit
"We found incredible bodies of mineralization, excellent grade consistency and thicknesses…We basically doubled the historic resource with 18 drill holes."
– GTCH President Mike Sieb
Fondaway Canyon is favorably located in Nevada, a jurisdiction repeatedly ranked as the most attractive region for mining and exploration activities in the world ( Fraser Institute 2022 Annual Survey of Mining Companies ). The property covers an area of approximately 4,200 acres and has a well-established history of exploration and gold production. The project is at an advanced exploration stage, thanks to management's execution of a very successful three-year drilling program – during which two major discoveries were made, substantial gold mineralization was delineated, and the potential for significant expansion remains on the horizon.
Fondaway Canyon is one of the most successful gold drilling programs in the USA. In these first three years of exploration, every hole drilled into the Central Area of Fondaway Canyon has hit substantive gold mineralization. Highlighting the rarity of the situation, CEO William Wagener commented, “Since initiation of drilling at the Fondaway Canyon project in 2020, every step out hole has added to the volume of gold mineralization, with our most peripheral holes reporting as good if not some of the better grades and thickness returned to date. The continued strength and consistency of the drill results is an impressive feat, but what truly conveys the potential is that the results encountered have all the earmarks of a major mineralizing system, whose extents remain open and have yet to be really tested.”
The current Mineral Resources Estimate (MRE) for Fondaway Canyon, released on February 1, 2023, primarily conceptualizes an open pit mining model with ancillary underground mining potential.
The MRE for Fondaway Canyon reported the following figures:
- Indicated Mineral Resources of 11 million tonnes at 1.56 grams per tonne (g/t) gold (Au) containing 550,000 ounces of gold.
- Inferred Mineral Resources of 38.3 million tonnes at 1.23 g/t Au containing an additional 1,509,100 ounces of gold.
An Opportunity Waiting To Be Discovered
With its stock sitting at just under CDN$0.19, and a market cap of $20.2 million (comparable companies %I80GoldCorp (NYSE: ) and %NevadaGoldKing (NYSE: ) boast CDN$824 million and CDN$144 million market capitalizations respectively), GTCH, a budding gold exploration company with a significant and growing asset, holds promise as an understated exposure option to the BRICS move. Getchell Gold Corp. is worth serious consideration for investors looking for a well-positioned venture investment to capitalize on the developing international financial situation.
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 from 2020 to 2023, 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.
Legal Disclaimer/Disclosure: This article is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Yolowire assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Yolowire has been paid a fee of eight hundred dollars for Getchell Gold advertising from Castle Rising. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.