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With the US election vote still being counted and central banks still injecting more stimulus into global economies, it is no surprise to see the gold price again pushing through the $1900 level.

Many gold bugs have forecast we could see gold go to $3000 before the COVID pandemic is over. COMEX gold futures are up nearly 30% since November last year, and with further turmoil ahead, investors are also turning to gold miners again as one of the sectors that could perform especially well in 1H 2021.

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Here are five gold mining stocks The Armchair Trader has been following in 2020 which could benefit from a rising gold price.

Greatland Gold (LSE:GGP) – an actively followed gold miner, this Australian miner has seen some excellent share price performance over the autumn months. Greatland Gold’s share price ran up from 14 to 27 between August and mid-September. Shares have come off a little since and there has been some recent profit taking, but the stock price is well above August levels. Newcrest is still drilling at Greatland’s Havieron deposit with some very positive results announced last week.

Brigadier Gold (TSX-V:BRG/FRA:B7LM) – a gold explorer currently on the scent in Mexico’s high yielding Sierra Madre region. Brigadier Gold is hunting for mixed gold/silver deposits and is positioned along a mineral axis between two other projects that have already yielded bonanza results. Brigadier Gold has been carrying out exploratory diamond-tipped drilling at lower levels than historic activity on the site, and cores have been sent for analysis at Durango. We are awaiting results from Brigadier with great excitement as both neighbouring projects saw shares streak upwards on solid results.

AEX Gold (LON:AEXG) – an independent gold company, AEX owns a number of mining licenses in Greenland. It listed on AIM back in July and is pursuing the fully-funded Nalunaq project in southern Greenland. Nalunaq is an historic mine working, which AEX plans to reopen and explore further. The company is currently in the process of putting in place the necessary infrastructure and personnel teams, and it reports that environmental and social impact assessments have been accepted by the Greenland authorities.

Gold Resource Corp (NYSE:GORO) – Gold Resource Corp recently split into two companies. It had two mines, one in Nevada, and one in Mexico, and a loyal shareholder base that was happy with the regular stream of dividends GRC was paying out. It had been reporting decent results from exploration of its Isabella Pearl site in Nevada, and a new company has now been spun out to pursue those opportunities. This leaves investors free to back the mature Mexican operation, which continues to trade as GORO or to invest in the growth prospects of Isabella Pearl. This move has not been completed yet.

Orosur Mining (LON:OMIN) – this junior miner attracted a lot of investor attention as Newmont Mining has backed it to explore the Anza gold prospect in Colombia. Orosur has put its less successful venture in Uruguay behind it. Newmont’s deal with Orosur will see it financing the junior miner in three phases over 12 years, which will eventually see Newmont spend $30m. Orosur has yet to update the market on recent progress in Colombia. Orosur Mining shares have come off their high point at 39 achieved 19 October but have continued to trade in the area of 30-31.


Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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