Mining Operations Continue to Increase Despite Recent Gold Price Fluctuations

PALM BEACH, Florida, August 14, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Despite continual threats of a global trade war the markets have been relatively calm of late coupled with a stronger U.S. dollar. Taking all into consideration it is not surprising that gold prices dropped 6% in the second quarter, according to the world's largest bank as it lowers its gold outlook for 2018. However, despite the precious metal's lackluster performance in the first half of 2018, Marcus Garvey, senior manager at ICBC Standard Bank still see some potential for gold in the second half of the year. Bank of America - Merrill Lynch expects the gold price to climb above $1,300 by the end of the year, with a forecast of $1,380 by 2020 - a potential upside of 13%. The price of gold especially has been affected by the recent political uncertainty, including tension over the U.S.-China trade war and the impact of U.S. sanctions on Iran. Expectations of higher U.S. interest rates this year could also play an important role on the change of gold price. According to Reuters, ANZ analysts said in a note, "We believe a reversal in gold prices is in the offing, as speculation of a trade war and Iranian sanctions are turning into reality. Further, record short investors positions in gold strengthen our conviction of a price recovery in H2." Active Mining Companies in the markets this week include: Rosita Mining Corporation (TSX-V: RST) (OTC: MDLXF), Sokoman Iron Corp. (TSX-V: SIC) (OTC: GDNDF), Aben Resources Ltd. (TSX-V: ABN) (OTC: ABNAF), Goliath Resources Limited (TSX-V: GOT), Golden Ridge Resources Ltd. (TSX-V: GLDN).

Rosita Mining Corporation (TSX-V: RST.V) (OTCPK: MDLXF) BREAKING NEWS: Rosita Mining is pleased to announce that it has entered into a binding L.O.I. to acquire 100% of the Marilyn Three Project, Newfoundland.

The Marilyn Three Property is located within a northeast-trending belt of Silurian volcanic, volcaniclastic and sedimentary rocks, adjacent to a large bimodal intrusive. This intrusive (The Mount Peyton complex ) is thought to be responsible for the large regional fault structure located within the larger area and within the property. The project/property consists of 104 claim blocks representing exclusive exploration rights to a land package of approximately 6,448 acres (2600 hectares) and lies within the same belt of rock and on trend with the mineral license hosting Sokoman Iron Corp.'s recently announced discovery hole (Sokoman Iron Corp. news release dated July 24, on its Moosehead gold project, where Sokoman Iron reported a drill intersection of 44.96 grams per tonne gold over 11.9 metres).). Additionally within the property, recent work has identified quartz subcrop blocks (enriched in silver, arsenic and antimony) with assays up to 4.8g/t Au. These blocks are located approximately 150m west of a recently identified 10-15m wide epithermal vein system in outcrop. Appearances and textures indicate that the vein outcrop is a fully preserved epithermal quartz veined system with potential significant grades just below the surface within the boiling zone.