Golden Predator Nets Almost $140k from First Gold & Silver Bulk Samples

Golden Predator Nets Almost $140k from First Gold & Silver Bulk Samples

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, August 18, 2016

On Wednesday, the U.S. Federal Reserve released the minutes of its most recent FOMC. The minutes showed that the central bank remains deeply divided over when to hike interest rates. The Fed last hiked interest rates at its December 2015 meeting. Coming into 2016, there were expectations for four rate hikes. But pretty soon, the Fed scaled down its expectations to two rate hikes. With the Fed scheduled to meet just three more times this year, the possibility of even a single rate hike has diminished.


The Fed has been cautious due to mixed U.S. economic data. While the labor market, with the exception of the month of May, continues to show improvement, other areas of the economy have been lagging behind. The Fed is particularly concerned about consumer prices. Inflation remains well below the Fed’s target rate.

A dovish Fed though is positive for gold. Indeed, that is the main reason why gold has been one of the best performing asset classes this year. With the Fed likely to hold rates for now, gold could see further gains in the coming months.

The outlook for gold prices augurs well for Golden Predator Mining Corp. (TSX-Venture:GPY). Based in Vancouver, Canada, Golden Predator is a resource exploration company focused on gold and copper exploration in the Yukon and Nevada. The company operates in two segments, which is the exploration and development of resource properties in Canada and the United States. It owns the Brewery Creek project, a past producing heap leach gold mining operation which is located over 50 kilometers due east of Dawson City in the northwestern region of the Yukon.

This morning, Golden Predator announced the results of the initial test processing of its Winter 2016 bulk sample program from the Ace of Spades Vein (formerly named Sleeping Giant Vein) at its 3 Aces Project. A total of 79.70 dry tonnes (87.83 dry tons) from a stockpile estimated at 750 tons of material was processed intermittently through July 12th, 2016.

GPY noted that a total of 4,587 grams of concentrate were recovered from the shaker tables, which was poured into a doré bar which contained 81.408 troy ounces of fine gold and 7.771 troy ounces of silver. The Company sold the precious metals and received payment for 99% of the gold and 96% of the silver for a net of $139,062.45.

Shares of GPY have been on a tear since early May and continue to trade near 52 week highs, however are even for the day at $1.09.

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