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Market
Equities Research - Market Bulletin
August 12, 2021 1:00 AM UTC
World’s 10 biggest gold mining companies based on 2020 production,
and review of Jr. mining explorer Lucky Minerals Inc.
Figure 1. (above):
Producer pouring gold bars.
The following is a
list of the top gold miners in the world based on their 2020
production:
1. Newmont HQ in United States
NYSE:NEM 5.88 moz (-3.45%)
2. Barrick Gold HQ in
Canada TSX:ABX 4.84 moz (-3.39%)
3. Polyus HQ in Russia
RTC:PLZL 2.87 moz (-2.71%)
4. AngloGold Ashanti*** HQ in
South Africa JSE:ANG 2.81 moz
(-14.33%)
5. Kinross Gold HQ in
Canada TSX:K 2.38 moz (-5.93%)
6. Gold Fields HQ in
South Africa JSE:GFI 2.13 moz (+4.41%)
7. Newcrest Mining HQ in
Australia ASX:NCM 2.06 moz (-11.59%)
8. Agnico Eagle HQ in
Canada TSX:AEM 1.73 moz (-2.81%)
9. Polymetal International HQ in
Russia LSE:POLY 1.40 moz (+6.87)
10. Harmony Gold HQ in
South Africa JSE:HAR 2.38 moz (0.00%)
* Does not include equity ownership of other producers.
** Ranking excludes Uzbek state-owned enterprise Navoi Mining &
Metallurgy Combinat, owner of one of the world’s largest gold mines
in Muruntau, as the reliability of its information is unconfirmed
(reports have it having produced ~2 million ounces of gold in 2020).
*** Reported production from continued AGA operations; production
figures were adjusted to reflect a company’s ownership % as of
December 31, 2020 (i.e. AngloGold sold some assets to Harmony in
October).
In total, thirteen companies saw their production
surpass the one million ounce mark; Canada’s Kirkland Lake Gold
(1.37moz), Australia’s Northern Star Resources (1.01moz) and the
UK-based Nord Gold (1.01moz). Sibanye-Stillwater almost made the
list with 0.98moz of gold.
Comment on Global Production of Gold:
Chart 1. (left) -- Mine Output
In 2020, mining
output fell by nearly-4%, which was the biggest drop in over a
decade. Most of this decline was due to COVID-related shutdowns.
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Junior Mining
Explorer Lucky Minerals Inc.
(TSX-V: LKY) (OTC: LKMNF) Presents Opportunity
Lucky Minerals New Gold Discoveries
in Ecuador have Enormous Potential, Now Tracking Multiple Feeder
Zones at Surface
Lucky Minerals Inc. (TSX-V: LKY) (US
Listing: LKMNF) (Frankfurt: LKY)
has several new gold discoveries at its 100%-owned
royalty-free 550km2 (55,000 Ha, or 136,000 Acres) Fortuna Project in
Ecuador, located in prolific mineral belts ~40km from Lundin Gold's
Fruta del Norte (9.48 M oz Au I+Inf) deposit and the Mirador (2.7 M
oz Au and 5.9 B lbs Cu M+I) deposit. Within the last few months
Lucky's geological team has discovered an entirely new gold trend,
the Shincata Gold Trend, which extends across the NW Fortuna
concessions for ~22 km, in an area of multiple volcanic centers.
Lucky's geological team is actively exploring on ground with all the
ingredients for extensive gold potential; on July 12, 2021 announced "Lucky
Minerals Systematic Sampling of Outcrop Averages 3.06 g/T Gold over
4.0 m at Wayka" (T1 results), and July 30, 2021 "Lucky
Minerals Samples 8.08 g/t Gold Across 7.0 m Including 17.63 g/T Gold
Across 3.0 m at Wayka" (T6 results) -- In-short, Lucky Minerals has tapped into a
high-sulfidation epithermal gold system that has shown economic levels of mineralization at surface, this type
of deposit tends to be a disseminated body that can scale up quickly.
The geological team is tracking multiple feeder zones at surface
(T1 & T6 are 700m apart), how far
this carries is being investigated now; there are teams in the field
bringing back new information from material exposed at surface. The
geological team is mapping advanced argillic alteration
(high-temperature
volcanic material favourable for trapping/hosting gold) across a
significant and rapidly expanding footprint, there is evidence pointing
to parallel feeder zones to be uncovered, and Lucky plans to put
drills into optimized targets this year -- favourable results are apt
to send the share price vertical. The aforementioned July 12 feeder
zone has been followed to at least ~30 m, it trends east to west,
with stellar grades in what has been released to date. This is a rapidly developing story, lots of
information is incoming, and quickly turning into one of the most
exciting exploration efforts in the mining sector.
Lucky Minerals is on to a potential
world-class discovery at its Wayka Gold Discovery Zone
-
Wayka is a high sulphidation
epithermal gold system (examples of such deposits
that are world-class: Yanacocha, Pierina, Pueblo
Viejo).
-
Trenching has confirmed a large
system is mineralized with gold between trenches T1
and T6 (700m apart).
-
High temperature alteration
footprint (advanced argilic – blue elipse on map
below) more than 1.5 km by 1.0 km and still open in
three directions. It is generally the area where
most gold mineralization is localized in these type
deposits.
Figure 2. (above) -- Trench T6: Samples
across 7m averaged 8.08 g/t gold, including 3m at 17.63 g/t Gold and
is 700m from T1.
Figure 3. (above) -- Size Matters,
Alteration Size Comparison of some world class high sulphidation
epithermal gold systems. Considering Lucky has a high
temperature alteration footprint more than 1.5 km by 1.0 km and
still open in three directions, excitement runs high as the Company
plans a maiden drill program.
The Fortuna Gold Project lays within a tertiary
volcanic belt that trends NE-SW through the property, these are
volcanics which are known to hosts major epithermal gold deposits,
similar trending structures intersect neighboring Fruta del Notre,
Mirador, Loma Larga, El Mozo and others. Satellite imagery confirms
what is understood to be a collapsed caldera proximal to the
discoveries Lucky is now making.
For further DD
on Lucky Minerals Inc. see the following URLs:
Corporate
website:
https://www.luckyminerals.com
Recent
Mining MarketWatch Journal Review:https://miningmarketwatch.net/lky.htm
# #
This bulletin may contain
forward-looking statements regarding future events that involve risk and
uncertainties. Readers are cautioned that these forward-looking statements are
only predictions and may differ materially from actual events or results.
Articles, excerpts, commentary and reviews herein are for information purposes
and are not solicitations to buy or sell any of the securities mentioned.
Contact information:
Simon Levinson
Market Equities Research Group
s.levinson@marketequitiesresearch.com
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