Gold Explorer Advances Nevada Project as US Midterms Put Gold Market in Focus - Streetwise Reports

AI desk brief

Gold fell below US$4,000/oz on October 30 as stronger U.S. growth, sticky inflation and rising expectations for another Fed hike in December extended the October correction; the metal was down about 4.3% for the month and heading for a second straight monthly decline. The World Gold Council said the Nov. 3 U.S. midterms could matter through fiscal policy, war funding, regulation and any resulting shifts in the dollar, yields and inflation expectations, but historically the post-election policy mix has mattered more than the vote itself.

On the company side, Star Gold secured a long-term lease on 2,471 acre-feet of water rights for its Longstreet Gold-Silver Project in Nevada, covering roughly 3.4x its contingency-adjusted estimated annual water use. Its September PEA assumed US$3,600/oz gold and US$48/oz silver, implying a pre-tax NPV of US$87 million and IRR of 48%; at US$4,000 gold and US$60 silver, pre-tax NPV rises to US$122 million and IRR to 63%.