African Sovereign Mines are enjoying a period of success in early 2014 after a torrid year in 2013. A mining project in the eastern part of Guinea has struck high-grade gold whilst South African mines have raised £1.25 million in share holdings.
With the dramatic fall of gold and silver prices in 2013, the production of precious metals outweighed the return and subsequently forced many companies in Africa to suspend mining. Others went out of business altogether.
This year things are already looking up for Sovereign gold mines in Africa. The company recently announced that a resource in the eastern province of Mandiana-Magana shows promising signs of high-grade gold deposits which can be mined selectively.
The resource is estimated to contain around six million tonnes of gold in its entirety, although only 420,000 tonnes of the total is thought to be top quality. Another 190,000 ounces of gold reserves in the same field will be stockpiled for a later date.
Drilling at Mandiana-Magana is expected to commence in the early stages of the second quarter. Investors have already jumped on-board and will represent 17.6 per cent of the companies issued share capital.
Elsewhere in Africa, Barrick sahres fell after the company announced $781.1m in losses for 2013. Revenues feel from $1,011.7m to $929m before adjusted interest and tax etc. The company announced its intention to ramp up production in 2014 despite gold prices expected to fall.
The news from Mozambique is more positive with Baobab encouraged by reverse circulation drilling results. The company’s premium mines at Monte Tenge is believed to have the potential for higher-grade deposits which will see a 6 per cent improvement from 2013.
Buying gold sovereigns
There are several types of gold sovereign coins available around the world. The most famous, long-standing and the favourite amongst investors and collectors is the British Gold Sovereign which has a history dating back more than 2000 years.
The sovereign coin is so popular the Royal Mint in Wales announced a sell-out of its 2014 coins within the first three days of its release. The American sovereign is proving equally as popular and was also snapped up in the first few days of sale.
Such is the popularity of the gold sovereign coin, it is struck in several mints around the world including the commonwealth countries of Australia and Canada. With gold prices anticipated to plummet during the course of the year, 2014 is a prime-time epoch for investing in gold.
With the strengthening of the global economy, the value of sovereign gold coins will fall by around US$100 or more than its current value of US$1322.
However, when the next financial crises hits – widely believed to be due to the bulging debt ceiling – gold prices will rocket and could more than double its purchase value.
The gold sovereign coin is a healthy investment at almost any time, but with prices falling in 2014, this could be the last chance investors have to make a killing on a gold bull. To make sure you don’t miss out on handsome profits buy sovereign gold from coininvest.com today and solidify your financial future.