Given the market volatility from the spread of COVID-19, the outlook for gold remains uncertain. Nevertheless, gold exploration and mine development remain important drivers of mining activity. Here are eight companies with exposure to gold and precious metals.
Bear Creek Mining
Bear Creek Mining (TSXV: BCM; US-OTC: BCEKF) wholly owns the 57-sq.-km Corani silver-lead-zinc deposit in Peru’s Andes mountains, 160 km from Cusco.
In November, the company released an updated feasibility study for a potential 27,000 tonne per day open-pit operation, extracting ore from the Este, Minas and Main pits. The study envisioned a mine that would produce an average of 9.6 million oz. of silver, 98 million lb. of lead and 69 million lb. of zinc annually over a 15-year life. With life of mine all-in sustaining costs of US$4.55 per oz. of silver produced and US$579 million in initial capital, the associated project’s net present value estimate, at an 8% discount rate, comes in at US$369 million.
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