Centenario Gold Corp. is a private junior mining exploration company that is looking to make the switch to being a public company. Its flagship property, the Eden Project, is located in Mexico, and is estimated to contain large amounts of silver and gold mineralization.
Gold Set to Rise Again
While Stockhead noted in a recent article that gold has cooled off outside of the Chinese market, there may still be a chance for a return to record prices. According to Stockhead, commodities analyst Mike McGlone is still predicting that gold will hit US$3000 per ounce at some point in 2023. Gold moved up by 22% on Friday, October 6, to US$1,824 per ounce.
Stockwatch reports that according to Ewa Manthey, “our U.S. economist believes that the Fed is done hiking rates with cuts starting from Spring 2024 as challenges continue to mount. Real household disposable income is slowing, student loan repayments are due to restart, credit availability is drying up and pandemic accrued savings have been exhausted by many households.”
Gold often prospers when the economy is under strain, and the conditions described above may be just the right conditions to push gold back up again, according to Stockhead’s analysis.
239 Grams Per Ton Gold
While there are not yet any ratings of Centenario Gold Corp., the company does expect to go public soon. It has listed Prime Mining (TSX.V:PRYM) as a comparable, as it is very nearby to the Eden Project, and shares much of the same geological properties.
According to the company, there are a number of catalysts to report. It reports that its new project, Eden, has returned underground sample grades of 239 g/t Au and 1300 g/t Ag, which is supported by the 43-101 report it filed on SEDAR. Centenario reports that the company invested roughly CA$1 million in proving a mineralized corridor runs for over 3km on the property, and that it is located to other prosperous mines, such as the Los Rayas Project of Prime Minings. The company’s drill program will begin in October, and it expects for the results to be available before 2024.
Ownership and Share Structure
The company reports that it has a market cap of CA$6 million, and that there are 40,000,000 shares and 400,000 warrants valued at CA$0.01 set to expire on August 16, 2026, 1925,663 warrants valued at CA$0.20 set to expire on February 1, 2025, and the company plans to issue 6,000,000 warrants valued at CA$0.30 set for two years. Centenario reports that there are 2,250,000 five year options valued at CA$0.15, and 600,000 options valued at CA$0.10 set to expire on August 16, 2026. According to the company, it plans to invest CA$600,000 into its current drill program.
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Important Disclosures:
- Centenario Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Centenario Gold Corp.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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