- Claude Bejet, a long-time precious metals investor and author of the Swiss Gold Letter, was interviewed on the sidelines of the recent Mines and Money Conference in London
- During his interview, Bejet commented on his optimism in regards to the precious metals complex as well as the considerable value held by junior mining companies
- Eloro Resources possesses a 100% option agreement on the Iska Iska deposit, a major polymetallic epithermal porphyry complex covering over 900 hectares of land
- The company is due to publish their initial assessment of Iska iska’s resource potential by March 2023, a process which Eloro are carrying out with mining consultancy, Micon International
“We’ve been through hell.” That was Claude Bejet’s succinct summary of the precious metals market and gold over the past two years. A Covid-linked downturn in 2020 was subsequently followed by an inflation-driven bear market across financial assets in 2022; although gold has historically been perceived as an inflation hedge, a rapidly appreciating US dollar – which rose by over 12% in 2022, hitting a two-decade high in September – marred what could have heralded a banner year for precious metals. However now and on the sidelines of the Mines & Money London conference, Claude Bejet expressed his belief that the worst could now be over; in an interview with industry newswire Kitco Mining, Bejet expressed his renewed optimism on the precious metals complex and commented on his optimism on the overlooked potential of listed mining companies (https://nnw.fm/ySgKU).
Marc Bristow, the CEO of Barrick Gold Corp, told investors during his keynote speech at the conference that the future of mining no longer lay in the traditional, over-explored jurisdictions of prior years. Rather, the big opportunities over the next decade would come from traditionally overlooked jurisdictions with Bolivia ranking chief amongst these. Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM), an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec has epitomised the potential success that could be derived from a focus in less traditional jurisdictions. Between 2020 and 2021, Eloro Resources witnessed its stock price rise by over 2,900% – a remarkable outcome resulting from the company’s world class silver-tin discovery with the near inexhaustible Cerro Rico mining belt (https://nnw.fm/yCT6T).
The mines around the Cerro Rico region have gained a near legendary reputation within precious mining circles, having produced approximately 2.1-3 billion ounces of silver over the past 500 years – making it the single richest source of silver in human history. In fact and between the 16th and 18th century, 80% of the world’s silver supply originated from the Cerro Rico region. In early 2020, Eloro Resources sought to capitalize on the region’s potential, optioning the Iska Iska project, a 484 square kilometre undeveloped mining tract within the Potosi region – a mere 180 kilometers south of the prolific Cerro Rico deposit.
Since commencing the inaugural drill program at the Iska Iska site in September 2020, Eloro Resources has drilled over 120 holes and 85,000 meters within the property, however it was their initial discoveries in late 2020 that convinced the company of the site’s relative potential. Between November 2020 and January 2021, the company found that its initial holes – most of which were between 250 and 300 meters in length, were delivering bulk tonnage of 150 silver grams equivalent per ton – a level of silver concentration which has been found to be economically viable in the past.
According to Bejet, the current equity market downturn could make for propitious timing for investors seeking to increase their allocation towards listed miners which may have been otherwise been overlooked by the market, with Eloro Resources chief amongst these. Boasting one of the most potentially significant silver and tin deposits within the Cerro Rico region and having recently looked to expand their addressable deposit size through the acquisition of the adjoining Mina Casiterita and Mina Hoyada properties, Eloro Resources may make for one of Bejet’s best bets yet.
For more information, visit the company’s website at www.EloroResources.com.
NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://nnw.fm/ELRRF
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