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Gold's meteoric rise this year despite headwinds has puzzled market observers. Since February, gold prices have remained well above the $2,000 mark and even briefly hit a record high over $2,400 in mid April.

As it turns out, the rally may find its roots in China, particularly on the Shanghai Futures Exchange (SHFE), where a surge in retail investors is reshaping the global gold market.¹

While gold markets in London and New York have seen increased activity, the SHFE stands out for its dramatic rise from a low base. This surge in trading volumes suggests a wave of Chinese investors propelling gold prices higher.

China's traditional interest in gold as a savings tool has been revitalized by economic uncertainty and deglobalization, reflected in a 17-month buying spree by the People's Bank of China and increased consumer and institutional demand. This surge in demand has been augmented by a surge in speculative trading on the SHFE.

However, not everyone agrees that Chinese investors are the sole drivers of gold's ascent. Jeff Christian, managing director at CPM Group, believes the trend is broad-based, encompassing both institutional and retail investors globally.

Gold's future trajectory may hinge on the sustainability of Chinese interest. Some speculate that investors on the SHFE may be betting on short-term fluctuations in the yuan, particularly during the exchange's night sessions coinciding with shifts in US economic data.

Despite gold prices increasing by over 25% since October 2023 lows, gold stocks have remained undervalued.² Fortunately, gold mining stocks are building steam as the market takes notice of the high-potential sector.

West Red Lake Gold Mines Ltd. (TSXV:WRLG) (OTCQB:WRLGF) is emerging as a notable player in the gold market, targeting near-term production at its high-grade gold project in Ontario's Red Lake District, a region that hosts some of the world's richest gold deposits producing 30 million ounces of gold to date.³

West Red Lake Gold is focused on developing the fully-permitted Madsen Mine, which boasts a high-grade gold resource of 1.65 million ounces at 7.4 grams per ton (g/t) across 6.9 million tonnes (Indicated), and an additional 366,000 ounces at 6.3 g/t (Inferred). The 47 km2 land package sits on highly prospective exploration targets and includes significant infrastructure including an expandable 800 tonne per day processing mill, underground equipment and a water treatment plant. The company also owns the 31 km Rowan Property in Red Lake, home to three former gold mines: Rowan, Mount Jamie, and Red Summit.

West Red Lake Gold Mines Unlocks More Value from Cleanup at Madsen Mill

Since acquiring the Madsen Mine less than a year ago, West Red Lake Gold Mines Ltd. (TSXV:WRLG) (OTCQB:WRLGF) has been strategically moving it forward to a restart and a targeted timeline for gold production in 2025.

On May 1, the company reported significant progress in their cleanup and gold recovery operations at the Madsen Mine, uncovering substantial amounts of previously unaccounted for gold. This initiative has already yielded 415 ounces of gold valued at approximately $750,000 from an initial recovery phase. Encouraged by these results, West Red Lake Gold began a more thorough cleanup in early 2024, with expectations to recover a substantial amount of gold that was locked up in the milling circuit by the end of May.

West Red Lake Gold Mines Ltd. (TSXV:WRLG) (OTCQB:WRLGF) also recently outlined its 2024 regional exploration strategy for the Madsen and Rowan Properties. At Madsen, regional mapping and geochemical sampling will begin in May 2024, with a focus on the Confederation Assemblage of rocks. This area has seen minimal exploration since 2014.

Historically, exploration in the Red Lake district has concentrated on the Balmer Assemblage of rocks, neglecting the Confederation rocks. However, recent discoveries at Dixie Lake prompted a reevaluation. West Red Lake Gold plans extensive mapping and sampling across Confederation rocks, covering approximately 50% of the Madsen land package.

At the Rowan Property, up to 15,000m of surface drilling is planned at the Rowan Mine deposit, starting in early June 2024. This fully funded drill program aims to expand on the existing high-grade mineral resource.

Additional regional mapping and geochemical sampling programs will begin in June 2024 to generate new drill targets across the Rowan property.

Earlier this month West Red Lake Gold Mines Ltd. (TSXV:WRLG) (OTCQB:WRLGF) announced significant drill results from the high-grade South Austin Zone at Madsen, which holds an Indicated mineral resource of 474,600 ounces of gold at 8.7 g/t and an Inferred resource of 31,800 ounces at the same grade.

Key findings include 1.1 meters at 68.36 g/t gold, encompassing 0.5 meters at 145.44 g/t, and 3.95 meters at 13.83 g/t gold, which includes 0.5 meters at 105.72 g/t.

These recent drill results are encouraging, and contribute to West Red Lake Gold's strategy to build up a base of high-grade, high-confidence gold ounces vital for the early phases of mine production.

The company also just closed an upsized private placement for US$27.1 million, which will be used to continue to advance the development of a restart plan for the Madsen Mine.

Visit their website or explore their corporate presentation to learn more about West Red Lake Gold Mines Ltd. (TSXV:WRLG) (OTCQB:WRLGF).

Footnotes:

[1] https://www.bnnbloomberg.ca/gold-s-record-setting-rally-may-have-its-roots-in-chinese-frenzy-1.2062913

[2] https://www.mining.com/web/gold-stock-upside-targets-2/

[3] https://www.theglobeandmail.com/investing/markets/stocks/WRLG-X/pressreleases/22442097/west-red-lake-gold-announces-sprotts-investment-of-us2631463/

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MarketJar

COMTEX_451773269/2655/2024-05-02T08:32:52

App developers Edinburgh agency Erbo, the leader in the Scottish app industry, has strategically invested over £1 million to advance its app development capabilities, reinforcing its commitment to innovation and quality in the digital landscape. This significant investment marks a new era for the agency, enhancing its ability to develop cutting-edge mobile apps for a global market.

Edinburgh, Scotland, United Kingdom, 2nd May 2024 – App developers Edinburgh agency Erbo, the leader in the Scottish app industry, has strategically invested over £1 million to advance its app development capabilities, reinforcing its commitment to innovation and quality in the mobile apps landscape. This significant investment marks a new era for the agency, enhancing its ability to develop cutting-edge mobile apps for a global market.

This investment will fund the acquisition of state-of-the-art software and hardware, focusing on emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), and Vision Pro Technologies. It will empower Erbo to offer more sophisticated, secure, and efficient apps, thereby meeting the increasingly complex demands of their clients.

“Erbo is dedicated to staying at the forefront of the app development industry,” said the CEO of Erbo. “This investment not only strengthens our infrastructure but also enriches our capabilities to innovate and deliver top-tier solutions to our clients.”

The funds will also be utilised to expand the team, attracting top talent in software development and user experience design. Additionally, Erbo plans to enhance its research and development department, enabling the exploration of new ideas and the implementation of pioneering solutions that anticipate market trends and customer needs.

“Our focus is on creating apps that are not only functionally excellent but also intuitive and user-friendly,” added Emma Anderson, Erbo’s Head of Development. “Investing in these advanced technologies allows us to create more personalised and engaging user experiences.”

Moreover, Erbo is committed to fostering a culture of continuous learning and innovation among its staff. A portion of the investment will support ongoing professional app development and training programs, ensuring that the team remains knowledgeable about the latest technological advancements and industry standards.

App Developers Edinburgh
About Erbo: Located in Edinburgh, Erbo is the leading app development agency in Scotland that specialises in building cutting-edge mobile apps. With a robust commitment to technology and innovation, Erbo provides state-of-the-art solutions to businesses across various industries all over Scotland, helping them achieve digital excellence and operational efficiency.

Media Contact

Organization: Erbo

Contact Person: Erbo

Website: https://www.erbo.uk

Email: Send Email

Contact Number: +441315104314

Address: 93 George St

City: Edinburgh

State: Scotland

Country: United Kingdom

Release Id: 02052411626

The post App Developer Edinburgh: Erbo Boosts Innovation with £1 Million Investment in App Development Technology appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

North Star Heating and Air Conditioning, renowned for its exceptional HVAC services in West Jordan, Utah, expands its operations to Lehi, offering a full range of air conditioning services to meet the growing demands of Utah County residents.

Lehi, Utah, United States, 2nd May 2024 – North Star Heating and Air Conditioning, a leading provider of heating, ventilation, and air conditioning (HVAC) services, proudly announces the opening of a new service location in Lehi, Utah.

This expansion is part of North Star’s commitment to provide top-tier HVAC and AC solutions, including installation, repair, maintenance, and replacement services to residents of Lehi and the broader Utah County. 

Accredited by the Better Business Bureau, North Star Heating and Air Conditioning is recognized for its dedication to excellence and customer satisfaction.

Founded on the principles of reliability and affordability, North Star Heating and Air Conditioning has established a solid reputation in West Jordan, Utah, by consistently delivering high-quality HVAC and AC services. 

Recognizing the need for being expert HVAC contractors in Lehi, the company has decided to extend its services to this rapidly growing region.

“Our mission at North Star Heating and Air Conditioning has always been to offer dependable and affordable HVAC services, We are excited to bring our expertise and dedication to residents of Lehi and Utah County, ensuring they receive the highest standard of heating and air conditioning services year-round.” 

said Terry Kelsch, a spokesperson for North Star Heating and Air Conditioning.

The new location in Lehi is fully equipped with the latest technology and staffed by certified professionals trained to handle a wide range of HVAC systems. 

From doing routine AC tune-up checks to complex installations, North Star Heating and Air Conditioning is prepared to respond to customer needs 24/7.

Key services offered at the new Lehi location include:

• AC Installation: Tailored solutions to fit each home’s unique layout and cooling needs.
• AC Repair: Prompt and efficient repair services to ensure minimal downtime.
• AC Maintenance: Regular checks and maintenance to optimize HVAC performance and longevity.
• AC Replacement: Comprehensive assessment and replacement of outdated systems with energy-efficient models.

This expansion not only addresses the growing demand for quality HVAC services in Lehi but also creates local job opportunities. 

North Star Heating and Air Conditioning is committed to contributing to the community’s economic growth by hiring local talent and providing ongoing training and certification opportunities.

Residents of Lehi and Utah County can now benefit from the convenience of having a trusted local HVAC provider that prioritizes customer service and quality workmanship. 

North Sstar Heating and Air Conditioning invites the community to experience the difference professionalism and expertise make in maintaining a comfortable and energy-efficient home environment.

North Star Heating and Air Conditioning is dedicated to upholding the highest standards of service integrity and customer satisfaction. 

As a BBB-accredited business, the company continues to lead by example, demonstrating its commitment to transparency and quality in all aspects of its operations. 

The new Lehi location is a testament to North Star’s ongoing commitment to serving the community and enhancing the quality of life for its residents through reliable HVAC solutions.

For more information about North Star Heating and Air Conditioning in Lehi, Utah, and the services offered at their new location, please see below:

Contact:

• North Star Heating and Air Conditioning 
• Address: 3300 Triumph Blvd Suite 107, Lehi, UT
• Contact Person: Terry Kelsch
• Phone: (385) 455-0010
• Email: [email protected] 
• Website: https://northstarheatingandairutah.com/lehi/

This press release is produced and posted by Job Calls

Media Contact

Organization: North Star Heating & Air Conditioning, Lehi, Utah

Contact Person: Terry Kelsch

Website: https://northstarheatingandairutah.com/lehi/

Email: Send Email

Contact Number: +13854550010

Address: 3300 Triumph Blvd Suite 107, Lehi, UT 8404

City: Lehi

State: Utah

Country: United States

Release Id: 02052411630

The post North Star Heating and Air Conditioning Announces New Service Location in Lehi, Utah appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.