Pacton Gold – A Good Time To Go Bullish On It, If Not Already
Pacton Gold (TSX.V: PAC.V) (OTC: PACXF) so far has had a good week, thanks to the continuous flow of announcements from the company. Along with these positive announcements, the marginal recovery in the gold price has also likely encouraged the investors to show their love for Pacton.
Announcements from Pacton Gold
On Monday, Pacton Gold announced another acquisition to further grow its portfolio in the Western Australia Pilbara region. The company announced that it entered into a binding letter of intent to buy conglomerate gold rights from Calidus Resources Limited. It is another significant acquisition for Pacton as Calidus previously has recovered nuggets near to the mapped conglomerate.
“Securing the conglomerate gold rights over this significant portfolio of tenements from Calidus further consolidates Pacton’s position in the Pilbara region of Western Australia,” said Pacton’s Interim President and CEO – Alec Pismiris.
On Tuesday, Pacton Gold came up another announcement of appointing Allan J. Folk and Alec Pismiris as directors. “They both have extensive experience in the mining sector and capital markets and are ideal candidates for moving Pacton forward,” said Dominic Verdejo, Chairman of the Board.
Folk has more than 35 years of experience in the Canadian mining finance space. He has worked at senior positions for both junior and advanced Canadian companies. Folk, who is currently the Vice President of Brant Securities, is also a director of Bonterra Resources and Monarca Minerals, and the Chairman of Atlanta Gold.
Similarly, Pismiris have over 30 years of experience in the securities, finance and mining industries. Currently, he is the director of many ASX listed companies. He is the founding shareholder and director of Cardinal Resources Limited, which found the Ghana’s Namdini Gold Project.
Expect positive movement in gold prices
In addition to these announcements, a marginal recovery in the gold prices has also helped in pushing the stock up this week. However, it remains to be seen if the yellow metal is able to retain this movement and continue the move up. At the time of this writing, things were not looking well for the gold as it was dropping again following an uptick in the dollar.
Going ahead, however, there are good chances that we may see the gold prices to rally. Several emerging countries and governments, which are at some level of war against the US, are stocking gold to lower their dependence on the dollar. Several countries are selling dollars fearing unpredictable diplomatic actions from Trump administration.
At the end of June, Philippines, for instance, had 196.4 tons of gold, an increase of 20% from 2010. Similarly, Indonesia has raised its gold holdings by 10% during the same period. Russia, which is facing U.S. economic sanctions, is consistently boosting its gold holdings, which is now the fifth biggest among the world’s central banks. At the end of June, Russian central bank had 1,944 tons of gold, up 6% since the end of 2017.
Iran too is witnessing a rise in gold purchases. During the first half of the year, sales of bullion and coins in the country have almost tripled from the same period last year, according to the data from the World Gold Council. Moreover, analysts expect these countries to continue with their gold buying.
Even the US dollar is expected to lose its strength going ahead. “Currently, the U.S. economy is in very good shape because of the positive effects of the tax cuts, but the time will come when the U.S. will face negative consequences of the measure,” Itsuo Toshima, a market analyst, told Nikkie Asian Review.
Conclusion
Demand for gold from these countries, and the expected uncertainty in the US economy will be good for gold prices and gold stocks. And, Pacton Gold with its impressive portfolio and robust management team is poised well to benefit from this.
Disclaimer: The above article is sponsored content. Whoa Is Media Inc, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://whoaismedia.com/legal-disclaimer
Pacton Gold (TSX.V: PAC.V) (OTC: PACXF) so far has had a good week, thanks to the continuous flow of announcements from the company. Along with these positive announcements, the marginal recovery in the gold price has also likely encouraged the investors to show their love for Pacton.
Announcements from Pacton Gold
On Monday, Pacton Gold announced another acquisition to further grow its portfolio in the Western Australia Pilbara region. The company announced that it entered into a binding letter of intent to buy conglomerate gold rights from Calidus Resources Limited. It is another significant acquisition for Pacton as Calidus previously has recovered nuggets near to the mapped conglomerate.
“Securing the conglomerate gold rights over this significant portfolio of tenements from Calidus further consolidates Pacton’s position in the Pilbara region of Western Australia,” said Pacton’s Interim President and CEO – Alec Pismiris.
On Tuesday, Pacton Gold came up another announcement of appointing Allan J. Folk and Alec Pismiris as directors. “They both have extensive experience in the mining sector and capital markets and are ideal candidates for moving Pacton forward,” said Dominic Verdejo, Chairman of the Board.
Folk has more than 35 years of experience in the Canadian mining finance space. He has worked at senior positions for both junior and advanced Canadian companies. Folk, who is currently the Vice President of Brant Securities, is also a director of Bonterra Resources and Monarca Minerals, and the Chairman of Atlanta Gold.
Similarly, Pismiris have over 30 years of experience in the securities, finance and mining industries. Currently, he is the director of many ASX listed companies. He is the founding shareholder and director of Cardinal Resources Limited, which found the Ghana’s Namdini Gold Project.
Expect positive movement in gold prices
In addition to these announcements, a marginal recovery in the gold prices has also helped in pushing the stock up this week. However, it remains to be seen if the yellow metal is able to retain this movement and continue the move up. At the time of this writing, things were not looking well for the gold as it was dropping again following an uptick in the dollar.
Going ahead, however, there are good chances that we may see the gold prices to rally. Several emerging countries and governments, which are at some level of war against the US, are stocking gold to lower their dependence on the dollar. Several countries are selling dollars fearing unpredictable diplomatic actions from Trump administration.
At the end of June, Philippines, for instance, had 196.4 tons of gold, an increase of 20% from 2010. Similarly, Indonesia has raised its gold holdings by 10% during the same period. Russia, which is facing U.S. economic sanctions, is consistently boosting its gold holdings, which is now the fifth biggest among the world’s central banks. At the end of June, Russian central bank had 1,944 tons of gold, up 6% since the end of 2017.
Iran too is witnessing a rise in gold purchases. During the first half of the year, sales of bullion and coins in the country have almost tripled from the same period last year, according to the data from the World Gold Council. Moreover, analysts expect these countries to continue with their gold buying.
Even the US dollar is expected to lose its strength going ahead. “Currently, the U.S. economy is in very good shape because of the positive effects of the tax cuts, but the time will come when the U.S. will face negative consequences of the measure,” Itsuo Toshima, a market analyst, told Nikkie Asian Review.
Conclusion
Demand for gold from these countries, and the expected uncertainty in the US economy will be good for gold prices and gold stocks. And, Pacton Gold with its impressive portfolio and robust management team is poised well to benefit from this.
Disclaimer: The above article is sponsored content. Whoa Is Media Inc, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://whoaismedia.com/legal-disclaimer
