SA Sits on 31,000 Tons of Explored Gold

Source: Commodity Online (5/31/11)

". . .Russia has 7,000 tons and China owns 6,328 tons."

Commodity Online

China remained world's largest gold producer for a fourth straight year but its explored gold reserves are far behind that of South Africa.

According to China Gold Association, China is ranked only third in explored gold reserves behind South Africa and Russia.

Global explored gold reserve is approximately 100,000 tons, of which South Africa, as the world's largest owner of gold resources, has 31,000 tons of explored gold reserves, Russia has 7,000 tons and China owns 6,328 tons.

China has slowly accumulated on its gold production. In 1978, China's gold output was only 19.67 tons. In 2007, China's gold output reached 270.5 tons, and it became world's largest gold producer, surpassing South Africa for the first time.

In 2010, China's gold output reached nearly 341 tons, while the world's gold demand was 2,778.6 tons, of which India accounted for 783.4 tons, ranking first in the world, China with 571.51 tons, ranking second and the United States, 180.9 tons, ranking third, Zhang said.

Meanwhile, China's largest Gold Exchange, Shanghai Gold Exchange, the cumulative volume of gold futures contracts was 679.41 in 2010 with the trading volume of gold futures ranking seventh in the world.

All kinds of gold products in Shanghai Gold Exchange reached 6046.064 tons last year and the trading of certain standard gold ingots ranked first in the world.

Gold Explorer Highlights 2020 Achievements and Outlook
Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

Cabral Gold's channel samples at the JM target provide "further evidence that numerous high-grade veins occur within the Cuiú Cuiú district."

Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project
Source: Streetwise Reports (01/28/2021)

Generation Mining intends to wrap up the feasibility study on Marathon this quarter.

Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project
Source: Streetwise Reports (01/28/2021)

MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.

Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property
Source: Streetwise Reports (01/27/2021)

Scottie Resources Corp. advises that the target remains open in most directions.

Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay
Source: The Critical Investor for Streetwise Reports (01/27/2021)

The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)

Sector expert Michael Ballanger explores the generational trends currently shaping investment markets, including the precious metals.

MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Source: Streetwise Reports (01/26/2021)

Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.