The record-breaking surge brings a big change to the mining sector
The mining sector has seen a dramatic transformation following the surge of gold prices in September, prompting exploration companies to capitalize on the momentum.
With gold reaching the price of $3,599 per ounce, the earnings estimate of mining companies rose by 80% through this year, while the central bank demand is projected to stay around 710 tonnes per quarter.
Exploration company Rua Gold’s expanding Auld Creek project had recently delivered high-grade results, which included intercepts of 17m at 9.8g/t AuEq and 8m at 8.9g/t AuEq. It has also recently made regional discoveries such as rock chip samples grading 14g/t gold found about 30km south of Reefton.
Rua Gold CEO Robert Eckford stated that the drill results expanded the scale and the potential of the Auld Creek project.
“The mineralized system has been extended both vertically and along strike and remains open in all directions. With two rigs now active on site and surface geochemistry confirming a 2.5-kilometre-long mineralized corridor, we are well positioned to build on this momentum,” he added.
Rua Gold had also announced an expansion to its Reefton drill campaign which intends to grow the gold-antimony resource above 300,000 ounces by the end of the year. The expansion will mobilize a third rig and target more than 4,000 metres of new drilling at Auld Creek.
“As our gold-antimony resource continues to grow rapidly —and with antimony at the top of every nation's critical minerals list—the significance of this expansion is substantial,” said Eckford.
Meanwhile, exploration and development company Tudor Gold Corp. has acquired American Creek Resources Ltd., increasing its ownership in the Treaty Creek Project in British Columbia’s Golden Triangle to 80%.
Orosur Mining Inc.’s infill drilling program at the Pepas prospect had delivered exceptional results as its hole PEP052 returns 71.85m at 6.13g/t Au and hole PEP051 intersects 61.3m at 3.36g/t Au.
Founders Metals Inc.’s Upper Antino project in Suriname has achieved deep high-grade mineralization and is set to conduct a 60,000-meter drilling campaign across its Antino Gold Project, which has produced more than 500,000 ounces of gold historically.
Banyan Gold Group’s AurMac Project in Yukon has intersected significant mineralization through its drillhole AX-25-678. Notably, the firm has drilled over 27,000m across 120 in 2025 at AurMac, with its current Mineral Resource Estimate comprising of an indicated resource of 2.274 million ounces of gold and inferred resource of 5.453 million ounces.
The booming of the gold market, according to a report by Al Jazeera, comes with the demand of investors looking for safe place for their investments as the global economy continues to face uncertainty.
KCM Trade chief market analyst Tim Waterer said that gold is usually what traders opt for during uncertain times among financial markets because of its stability. Given its status as a commodity that can be physically owned and stored, it is an investment that is appealing to investors that are wary of government and financial institutions.
