Rising Inflation Sends Gold Demand Soaring 34% As Investors Scramble For A Safe Haven - Seite 2

Then on February 23, New Pacific Metals announced the assay results of eight more drill holes coming from the 2021 discovery drill program, revealing that all 25 drill holes intersected silver-rich polymetallic mineralization near surface with a few deep holes intersecting a broad area of gold mineralization. Highlights from the results include broad gold mineralization of 323m interval grading 1.03 g/t gold and 12 g/t silver and a high-grade interval of 173.17m (from 9.67m to 182.84m) grading 102 g/t Ag, 0.77% Pb and 1.13% Zn for a silver equivalent of 166 g/t.

For more information about New Pacific Metals Corp. (TSX:NUAG) (NYSE American:NEWP), click here.

Gold Miners Reports Q1 2022 Results

On May 9, global gold mining company AngloGold Ashanti Limited (NYSE:AU) reported a Q1 2022 production of 588,000 ounces, unchanged from Q1 2021, including 41,000 oz at the company's Argentina-based Cerro Vanguardia mine. Total cash costs for the three months were $1,041/ounce, up 4% year-over-year, while free cash flow increased to $268 million from an outflow of $92 million in Q1 2021. The company's balance sheet remained strong after AngloGold financed the $365 million cash acquisition of Corvus Gold in January 2022 and paid of the 2021 year-end dividend, with approximately $2.5 billion in cash, including $1.0 billion in cash at end of March 2022.

In April, Yamana Gold Inc. (NYSE:AUY) reported a Q1 total production of 238,617 gold equivalent ounces (GEO) at total cost of sales, cash costs and all-in sustaining costs (AISC) of $1,212, $734 and $1,084 per GEO, respectively.  According to the company, standout production results combined with the low-cost performance underpinned the strong cash flow generation including $151.7 million in cash flows from operating activities and $197.3 million in cash flows from operating activities prior to net change in working capital. Yamana Gold expects free cash flow to increase quarter-over-quarter. First quarter net earnings came in at $57.8 million ($0.06 per basic and diluted share), while adjusted net earnings were $83.6 million ($0.09 per basic and diluted share). Cash and cash equivalents totaled $516.4 million. Yamana Gold has $750 million of available credit.