Kingman Minerals (TSX.V: KGS), a Canadian-listed gold miner with extensive claims in key mining jurisdictions spanning the North American continent, is ideally positioned in a market where gold recently crested the $2,000 per oz. mark. Investors looking for a safe haven in a chaotic market are sparking the record-breaking spike, with the precious metal rising by $560 an oz. already this year. And experts don’t expect the price to level out any time soon. Goldman Sachs recently revised its previous gold forecast of $2,000 per oz., announcing that it now epects that the market will see gold at $2,300 an ounce within the next 12 months. A recent article discussing the upward trajectory of gold noted that “meanwhile, the IMF has estimated that global governments have introduced fiscal support measures amounting to over $9 trillion since the start of the COVID-19 pandemic (http://ibn.fm/mCYex). The resulting weakness in the U.S. dollar (the euro has appreciated over 10% relative to the US dollar since March) and eventual inflationary pressures stemming from these measures have led to a surge in demand for gold – with the two most popular gold ETFs adding nearly 400 tonnes or 12 million ounces of gold to their combined inventories over the past few months.”
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About Kingman Minerals Ltd.
Kingman Minerals is currently engaged in the business of precious-metal mineral exploration for the purpose of acquiring and advancing nongrassroots mineral properties located in mining-friendly jurisdictions of North America. The Mohave Project is located in the Music Mountains in Mohave County, Arizona, and is comprised of 20 lode claims that are inclusive of the past-producing Rosebud Mine. High-grade gold and silver veins were discovered in the area in the 1880s and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property includes a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. For more information, visit the company’s website at www.KingmanMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to KGS are available in the company’s newsroom at http://ibn.fm/KGS
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