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Wesdome Gold Mines Ltd.

Exchange: TSX Exchange | Jul 20, 2019, 11:20 PM EDT

WDO
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Gold Bulls Push Forward - Companies Making Big Moves in Sector

POINT ROBERTS, Wash. and DELTA, British Columbia, April 16, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a global investor news source covering mining stocks releases a snapshot looking at the gold-mining segment and companies making moves to set themselves up for a possible “spring” gold rally.

In a recent article from Mining.com, “The gold miners’ stocks are still marching, grinding higher on balance in a solid upleg. While interest in this sector has faded since late February, it is nicely set up for a strong rally. After consolidating high and establishing a sturdy base, the gold miners are likely to soon report greatly-improved first-quarter results. Couple that with gold itself powering higher, and the slumbering gold stocks should surge substantially.”

U.S. Gold Corp. (NASDAQ: USAU), a US-focused gold exploration and development company with a portfolio of properties is focusing more on human assets for April having just announced that the Honorable Ryan K. Zinke has been appointed to the Board of Directors. His appointment made headlines, noting his background, “Former Congressman and 52nd US Secretary of the Interior for the Trump Administration and - A geologist from Montana with in-depth mining industry regulatory contacts and experience.”

Edward Karr, President and CEO of U.S. Gold Corp. stated, "All of the Directors of U.S. Gold Corp. are thrilled to welcome the Honorable Ryan Zinke to our Board.  As the former Secretary of the Interior and a geologist, Commander Zinke has an in-depth knowledge of the governmental regulatory and permitting process for mining and exploration companies.  We look forward to his future contributions to the overall Board, technical committees and permitting assistance with our Copper King project in Wyoming.”

The Honorable Ryan Zinke commented, “I look forward to joining a winning team.  U.S. Gold Corp. has attractive exploration and development projects in two mining friendly jurisdictions of Wyoming and Nevada.  I am confident that my prior experience can add tremendous value to the company.  I am excited to work closely with management and the Board to help make mining great again in America.”

This follows news from mid-March, “U.S. Gold Corp. Completes Additional District-wide Geochemical Surveys on the Keystone Project, Cortez Gold Trend, Nevada.”

From the news: Dave Mathewson, Vice President of Exploration for U.S. Gold Corp. states, "The geochemical data we have accumulated at Keystone demonstrate that we are potentially dealing with a very large and complex, Carlin deposit-type system."

One of the larger developments to come out this month has been from Newmont Mining Corp. (NYSE: NEM), whose shareholders recently approved the company's $10 billion takeover of Goldcorp Inc. which is set to create the world's biggest gold producer with assets across the Americas, Africa and Australia.

The new company, to be called Newmont Goldcorp, will overtake the current market leader Barrick Gold Corp. in annual production, churning out 6 million to 7 million ounces of gold annually over the next 10 years, compared with Barrick's forecast of 5.1 million to 5.6 million ounces for 2019.

Lundin Mining Corp. (TSX:LUN) (OTC: LUNMF) said on Monday that it would acquire a Brazilian gold-copper mine of Yamana Gold Inc. for more than $1 billion, helping to boost its base metals production after a failed acquisition attempt last year.

The Chapada Mine, located about 270 kilometers (168 miles) northwest of the nation's capital of Brasilia, began operating in 2007 and is expected to produce about 54,500 tonnes of copper and 100,000 ounces of gold in 2019.

"We believe the acquisition of the Chapada Copper Mine in Brazil makes sense for Lundin as it gives them a producing, long life copper-gold mine with growth potential, and the price paid appears good," Sam Crittenden, an analyst at RBC Capital Markets, wrote in a note.

Wesdome Gold Mines Ltd. (TSX: WDO) (OTC: WDOFF) has also announced upcoming changes to its Board of Directors. At the Company’s upcoming 2019 Annual General Meeting of Shareholders, Mr. Charles Page will retire as Chairman and director and will not stand for re-election. In addition, Mr. Rowland Uloth will also be retiring from the Board and will not stand for re-election at the AGM.

Pursuant to the Board’s succession plan, following the AGM and pending his re-election to the Board, Mr. Warwick Morley-Jepson will be appointed as the new independent Chairman of the Board. Mr. Morley-Jepson has more than 35 years experience in the mining industry within operations, project and business development in the precious metal sector.  He served as Executive Vice President and Chief Operating Officer of Kinross Gold Corporation from October 2014 to December 2016 and as Senior Vice President, Operations, and Vice President and Regional Vice President - Russia, between October 2009 and October 2014.

Despite some apathy hanging over the sector, gold stocks are still marching higher, thanks in part to renewed interest in the mining sector due to large acquisitions and high profile company appointments, and positioning for a long term future. The industry continues to reference peak gold as a catalyst for some of the mergers and acquisitions and posturing within the sector, inciting avid gold investors to look for the next possible play.  

Investorideas.com has created a directory of gold and mining stocks for investors following the sector.

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