The 6 Most Promising Gold Trends For 2020 - Seite 2

The scale of this resource is undeniably immense, with the Rovina Mine measuring in as the 2^nd biggest gold mine in all of Europe. It has 400 million tons of ore, yielding 10.1 million ounces of gold equivalent. To put that in perspective, the profits from this find are estimated at $550 per ounce…and that's with a total haul of $5.5 billion over the mine's lifetime.But it isn't just the mine that makes Euro Sun special.

While there are literally HUNDREDS of mines scattered across Europe, with many of them containing hundreds of millions of tons of accessible ore, getting a license for any of the ancient mines is near impossible.

Inside the European Union, it can be insanely difficult to get the necessary licenses due to a litany of regulations. Rovina is renowned within gold markets, with Barrick having sank $20 million into the project. But even with the backing of the biggest gold company in the world, the owners couldn't get the necessary licenses and had to abandon the find. That's when Euro Sun swooped in for the kill.

Euro Sun took its time to get the necessary permits and licenses from the Romanian government, knowing full well that the payoff would be worth it. Finally, in November 2018, it did the impossible and obtained the first Romanian mining permit since 2003.

The reaction to their success was unanimous, with GMP noting that Rovina has "robust economics and upside. If another ounce is never found, Euro Sun already owns a potentially extremely robust project."

Cantor Fitzgerald supported the work of GMP when it completed its own estimate in early 2019. Their estimate stated that Rovina "carries strong economics on a standalone basis." After securing this license and the attention of the entire mining industry, the only thing left to do was to wait for the gold markets to soar. Cantor Fitzgerald short-term target for Euro Sun is a remarkable $2.10. That's over a 500% increase from its current price. But GMP is even more ambitious: they believe Euro Sun is worth $3.00, an increase of over 800%.

The company's stock leapt up by 20% on the back of one small announcement. And as gold markets get more bullish and the company continues to develop, it is only going to get better. Investors are already waiting for opportunities in gold, with the Chinese having put some big money into mining, laying down a cool $1.4 billion to acquire an asset with nearly none of the qualities Rovina can boast.