Bedford Metals Comments on Gold Market Dynamics & Engages Grander Exploration for Margurete Gold
VANCOUVER, British Columbia, May 07, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) comments on the recent surge in gold prices and its impact on gold miners, drawing from an article by Michael Brush in the Dow Jones Newswire dated April 6, 2024.
According to Brush's analysis, gold prices have experienced a remarkable ascent, climbing more than 10% since Valentine's Day and over 20% since last October, reaching all-time highs. While the shares of gold mining companies have exhibited a varied growth rate compared to the recent surge in gold prices, this variation has initiated insightful discussions about the future trajectory of gold investments.
[Quote from Dow Jones Newswire]: "Either gold shares rise from here or gold prices take a dive," states Michael Brush, columnist for MarketWatch. "Something's gotta give in the world of gold investing."
Christopher Mancini, co-manager of Gabelli Gold Fund, shares his optimistic outlook, asserting that gold stocks are poised for significant growth if gold prices persist. Mancini emphasizes that the current prices are not adequately factored into the valuation of gold mining stocks, presenting an opportunity for substantial gains.
Although gold mining stocks have not advanced at the same pace, industry experts maintain a bullish outlook on gold prices. They cite reasons such as ongoing central bank purchases of gold, sustained demand from Chinese investors, and favorable macroeconomic conditions in the U.S.
[Quote from Dow Jones Newswire]: "We see investors do want exposure to gold…so the more unhedged we can keep that exposure, the better," comments Jake Klein, executive chair of Australian gold producer Evolution Mining.
Bedford Metals recognizes the potential for significant growth within the gold mining sector and remains committed to leveraging favorable market conditions to enhance shareholder value. The Company continues to focus on advancing its Margurete Gold project to capitalize on the buoyant gold market.
In line with this strategic focus, Bedford Metals is pleased to announce the appointment of Grander Exploration as the project manager for the upcoming exploration program at the Margurete Gold Project. With their extensive experience in managing detailed exploration programs, Grander Exploration brings invaluable expertise to Bedford Metals' ambitious plans for the Margurete Gold Project.
Grander Exploration's proven track record in successfully executing exploration initiatives aligns seamlessly with Bedford Metals' commitment to deliver results. The Company's management team is collaborating closely with Grander's team to define the plans and objectives for the exploration program, ensuring alignment with Bedfords' strategic vision and objectives.
Peter Born, President of Bedford, expressed his enthusiasm for the partnership with Grander Exploration, stating, "We are looking forward to working closely with Grander Exploration as we embark on this exciting phase of exploration at the Margurete Gold Project. The recent increase in the price of gold has only heightened the opportunity for us to unlock the project’s full potential."
Bedford reaffirms its commitment to conducting all exploration activities in an environmentally sound manner and in collaboration with local communities and nations. Environmental stewardship and community engagement are integral aspects of Bedford's operational philosophy, and the company remains dedicated to upholding these principles throughout its exploration endeavors.
About Bedford Metals Corp.
Bedford Metals Corp. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production, allowing Bedford to achieve exceptional shareholder value through the entire mining life cycle.
Margurete Gold Project. Bedford owns a one-hundred percent interest in the Margurete Gold Project. The primary target of the Margurete Gold Project is the FB Zone. The project was last explored in 2018 with property-wide prospecting, mapping, and rock chip sampling, in parallel with a targeted pack-sack diamond drilling program. An initial exploration program was completed on the Margurete property in 1986 by Falconbridge. This program consisted of geochemical surveys, ground-based geophysics, and a diamond drilling program, successfully identifying gold-bearing veins, which are believed to be genetically related to the same mineralizing events responsible for the nearby Doratha Morton and Alexandria Gold mines.
For further information, please contact the Company at info@bedfordmetals.com or 604-622-1199 or visit the Company’s website at www.bedfordmetals.com.
On behalf of the Board,
Bedford Metals Corp.
“Peter Born”
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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Alex Zertuche
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