A Total Game Changer in the Gold Market with Samsung’s Deal with Cluff Gold
libertyblitzkrieg.com
Last week’s news of a strategic partnership between Samsung and Cluff Gold is potentially one of the most significant events to happen in the gold market during the entire bull market that began over a decade ago. The implications of this deal are enormous, and are particularly bullish for mining companies. This line from Cluff Gold’s press release says it all:
Cluff Gold plc, the dual AIM/TSX listed West African focused gold mining company, is pleased to announce that it has signed a Memorandum of Understanding for a long term strategic partnership with Samsung C&T Corporation (“Samsung”). This alliance commences with an unhedged US$20m facility to provide additional funding to Cluff Gold to further the development of its portfolio of assets.
Through this long term partnership Samsung will have access to a reliable supply of gold bullion, underpinned by the Company’s strong operational and management team whilst Cluff Gold will benefit from Samsung’s financial support. The relationship is expected to result in a significant financing in Cluff Gold’s Baomahun project, subject to the outcome of the feasibility study, together with an ongoing commitment to jointly assess other opportunities in the region.
So here we have it folks. We have finally reached the point where large global corporations can no longer ignore the writing on the wall with regard to fiat currencies (they will all be devalued massively, if not printed into extinction) and have started to protect themselves. Think this will be the last such deal? Think again. Mining shares have recently started to outperform gold and they could continue to play significant catch up. Particularly the smaller miners that are in desperate need of such financing. Furthermore, Goldcorp’s CEO just said that “development-company valuations have come down to where, at least on paper, it looks like there’s some opportunities.”
Read Cluff Gold’s full press release here.
GAME ON
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