In times of financial crisis, there’s no safer investment than gold.
Gold’s historic reputation as a safe haven asset will be a boon for mining companies as the global economy witnesses the plunging valuation of currency. Kingman Minerals Ltd. (TSX.V: KGS) has been preparing operations on a historic mine site in Arizona, benefiting from the cost efficiencies of revitalizing an already established exploration site. Coer Mining Inc. (NYSE: CDE) has recently reopened operations in Mexico as the country’s government relaxed pandemic restrictions. Kinross Gold Corporation (NYSE: KGC) is hoping to benefit not only from renewed investor interest in gold but also from the mineral’s applications in medical testing. Hecla Mining Company (NYSE: HL) has been expanding from silver into gold and has renewed operations in Quebec as precious metals mining was designated a vital economic activity. Agnico Eagle Mines (NYSE: AEM) has also recommenced work in Quebec after a shutdown that will affect many mining companies’ output, but the company will still produce over a million ounces of gold this year.