TORONTO, April 01, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. ("G2" or the "Company") (TSX:GTWO, OTCQX:GUYGF) announces additional diamond drilling results further expanding on the Company's new discovery at the OKO Project, Guyana. Drilling has encountered wide intersections of near- surface, oxidized gold mineralization. Significantly, this new discovery lies only several miles away from the Company's flagship gold resources at the Oko Main Zone and Ghanie (comprised of 1.5 million ounces of gold Indicat ...

Group 1 - Gold prices have significantly increased in 2025, with the precious metal on track for its best quarterly performance since 1986, according to Bloomberg [1] - The current price of gold is over $3100 per troy ounce [1]

Core Insights - G2 Goldfields Inc. has made a significant gold discovery at the OKO Project in Guyana, with an updated mineral resource estimate of 1.5 million ounces of gold (Indicated) and 1.6 million ounces of gold (Inferred) [1][11] - The exploration program covers 83,967 acres of exploration rights in Guyana, indicating a strong commitment to district-scale exploration [1] Exploration and Discovery - Stream sediment sampling in 2023 and 2024 revealed highly anomalous gold values, leading to follow-up soil sampling that outlined gold zones in a 1400m x 900m area [2] - An initial eight-hole diamond drilling program targeted mapped shear zones, with four out of five holes intercepting shallow gold mineralization over a 420m strike length [2][4] - All mineralized intercepts are located within 60m of the surface, and the mineralized zone remains open in all directions [4] Assay Results - Significant assay results from the drilling program include: - AMD-1: 11.9m at 2.2 g/t Au - AMD-2: 6.9m at 4.3 g/t Au - AMD-8: 24.0m at 2.0 g/t Au [3] Mineral Resource Estimate - The updated mineral resource estimate includes: - 808,000 oz. Au (Indicated) at 7.98 g/t Au - 1,024,500 oz. Au (Inferred) at 2.64 g/t Au - 663,400 oz. Au (Indicated) at 2.01 g/t Au [11][15] Financial and Corporate Developments - G2 Goldfields plans to spin out G3 Goldfields Inc. with an increased cash distribution of C$15 million to shareholders [6][16] - The company currently holds cash exceeding C$37 million, positioning it well for ongoing exploration efforts [12]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: AngloGold Ashanti (AU) - AngloGold Ashanti currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance in the market [3][4]. - The stock has shown significant price appreciation, with a 34.85% increase over the past quarter and a 46.43% gain over the last year, compared to the S&P 500's -6.51% and 10.78% respectively [7]. Performance Metrics - Over the past week, AU shares increased by 2.38%, while the Zacks Mining - Gold industry rose by 3.64%. The monthly price change for AU is 0.12%, compared to the industry's 4.82% [6]. - The average 20-day trading volume for AU is 2,505,877 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the last two months, one earnings estimate for AU has increased, raising the consensus estimate from $3.07 to $3.83 for the full year, with no downward revisions noted [10]. - For the next fiscal year, one estimate has also moved upwards, indicating positive sentiment regarding future earnings [10]. Conclusion - Given the strong performance metrics and positive earnings outlook, AU is positioned as a promising investment opportunity with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [12].

Market Overview - Major indexes experienced a significant decline, with the Dow down -4% over the past five trading days, shedding -537 points (-1.3%) today, the S&P 500 down -77 points (-1.4%), the Nasdaq down -345 points (-2%), and the Russell 2000 down -32 points (-1.6%) [1] - The first full month of the second Trump administration has been challenging for the markets, with the Dow down -8.7%, the S&P 500 down -9.7%, the Nasdaq down -13.3%, and the Russell 2000 down -12.6% [2] Tariff Impact - President Trump's announcement of potential +200% tariffs on alcoholic beverages from the EU triggered a market decline, with the Dow reaching session lows down -600 points before a brief recovery [3] Gold Market - Gold futures rose +1.7%, nearing $3000 per ounce, indicating its role as a hedge against the declining stock market. Gold mining stocks Anglogold (AU) and DRDGOLD (DRD) saw increases of +2.5% and +2% respectively [4] Company Earnings Reports - DocuSign (DOCU) reported Q4 earnings of 86 cents per share, beating estimates by 2 cents, with revenues of $776.3 million surpassing the $760 million estimate, marking an 8% year-over-year revenue growth [5] - Ulta Beauty (ULTA) exceeded earnings expectations with $8.46 per share compared to the forecast of $7.10, and revenues of $3.49 billion. However, comparable sales increased only +1.5%, and the full-year earnings guidance was lowered [6]

Core Viewpoint - G2 Goldfields Inc. has appointed Jacqueline Wagenaar as VP of Investor Relations and promoted Roopesh Sukhu to VP of Business Development - Guyana, aiming to enhance its capital markets strategy and regional growth initiatives, respectively [1][2][5]. Company Appointments - Jacqueline Wagenaar will lead the capital markets program and the proposed spin-out of G3 Goldfields Inc., which includes G2's interest in non-core assets [2][5]. - Roopesh Sukhu will focus on regional growth through land identification, acquisitions, and partnerships, while also managing tenement and government relations [2][4]. Executive Backgrounds - Jacqueline Wagenaar has over 17 years of capital markets experience, previously leading successful investor relations at Solaris Resources Inc. and Guyana Goldfields Inc. [3]. - Roopesh Sukhu, with over 15 years in mining exploration and resource modeling, has been with G2 since April 2022 and has played a key role in exploration activities [4]. Strategic Initiatives - The proposed spin-out of G3 Goldfields Inc. was approved at the annual general meeting and is expected to be completed in Q1 2025, pending regulatory approvals [5]. - The spin-out aims to unlock value from non-core assets and is part of G2's broader corporate strategy [2][5]. Financial Position - G2 Goldfields currently holds cash exceeding C$37 million, positioning the company well for its regional exploration program [9]. Mineral Resource Estimates - An updated mineral resource estimate for the Oko property indicates significant potential, with resources lying within 500 meters of the surface [7][8]. - The Oko Main Zone has an inferred resource of 495,000 ounces of gold at a grade of 6.38 g/t and an indicated resource of 686,000 ounces at 9.03 g/t [14].

Group 1 - AngloGold Ashanti closed at $33.24, with a +0.24% change from the previous day, underperforming the S&P 500 which gained 1.04% [1] - The stock has increased by 22% over the past month, outperforming the Basic Materials sector's gain of 7.68% and the S&P 500's gain of 3.92% [1] - The investment community is closely monitoring the upcoming earnings performance of AngloGold Ashanti, with recent analyst estimate revisions indicating positive sentiment [2] Group 2 - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown a strong track record, with 1 rated stocks averaging a +25% annual return since 1988 [4] - AngloGold Ashanti currently holds a Zacks Rank of 1 (Strong Buy), with a consensus EPS projection that has increased by 24.96% in the last 30 days [4] - The company is trading at a Forward P/E ratio of 8.66, which is below the industry average of 11.92, indicating it is undervalued compared to its peers [5] Group 3 - The Mining - Gold industry, which includes AngloGold Ashanti, has a Zacks Industry Rank of 83, placing it in the top 34% of over 250 industries [5] - Research indicates that industries in the top 50% of the Zacks Industry Rank outperform those in the bottom half by a factor of 2 to 1 [6]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: AngloGold Ashanti (AU) - AngloGold Ashanti currently holds a Momentum Style Score of B, indicating a favorable momentum characteristic [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, AU shares increased by 4.04%, while the Zacks Mining - Gold industry rose by 4.55% [5] - In a longer timeframe, AU's monthly price change is 20.98%, outperforming the industry's 8.8% [5] - Over the past quarter, AU shares have surged by 31.89%, and over the last year, they have gained 80.84%, compared to the S&P 500's increases of 1.24% and 22.19% respectively [6] Trading Volume - The average 20-day trading volume for AU is 2,296,454 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the last two months, two earnings estimates for AU have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.50 to $2.81 [9] - For the next fiscal year, two estimates have also moved upwards without any downward revisions [9] Conclusion - Considering the positive momentum indicators and earnings outlook, AU is positioned as a 1 (Strong Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [11]

Industry Overview - Gold had a significant performance in 2024, with prices increasing over 27%, outperforming the S&P 500's 23% growth, marking the largest annual jump in 14 years [1] - Historically, gold prices tend to rise when bonds become less attractive, particularly in low-interest-rate environments, leading to increased gold investments [2] Current Market Trends - On February 3, spot gold reached $2,816.53 per ounce, briefly hitting an all-time high of $2,818.58, while U.S. gold futures rose to $2,855.90 [3] - The surge in gold prices is attributed to investors seeking safe-haven assets amid geopolitical tensions, including tariffs imposed by the U.S. on Canada, Mexico, and China, which heightened inflation fears [4] Central Bank Activity - Central banks, especially in emerging markets, have significantly increased gold purchases to reduce reliance on the U.S. dollar, providing a solid support base for gold prices [5] Future Predictions - Analysts predict that gold prices may exceed $3,000 per ounce by mid-next year, indicating strong growth potential for gold mining stocks [5] Company Highlights - **AngloGold Ashanti plc (AU)**: Expected earnings growth rate of 36.5% for the next year, with a 12.4% improvement in current-year earnings estimates over the past 60 days; Zacks Rank 1 [6] - **New Found Gold Corp. (NFGC)**: Expected earnings growth rate of 42.4% for the current year, with a 17.4% improvement in current-year earnings estimates over the past 60 days; Zacks Rank 2 [7] - **Gold Fields Limited (GFI)**: Expected earnings growth rate of 108.6% for the current year, with a 16.2% improvement in current-year earnings estimates over the past 60 days; Zacks Rank 1 [8] - **Orla Mining Ltd. (ORLA)**: Expected earnings growth rate of 53.3% for the current year, with a 15% improvement in current-year earnings estimates over the past 60 days; Zacks Rank 1 [9]

Core Viewpoint - AngloGold Ashanti plc is benefiting from record gold prices, with significant earnings growth expected in 2024 and 2025, driven by tight cost controls and increased free cash flow [1][5][6]. Financial Performance - In Q3 2024, AngloGold Ashanti reported earnings of $0.56, missing the Zacks Consensus by $0.08, with an average gold price received of $2,449 per ounce, up 28% from $1,908 in Q3 2023 [3]. - The company experienced a 17-fold increase in free cash flow to $347 million, up from $20 million the previous year, with free cash flow per ounce at $540 [4]. Earnings Estimates - Analysts have raised full-year 2024 earnings estimates to a consensus of $2.81, reflecting a growth of 2,654% from a loss of $0.11 last year [5]. - For 2025, the earnings consensus has increased to $3.83, indicating further growth of 36.5% [6]. Market Performance - In 2025, AngloGold Ashanti's shares have increased by 24.1% year-to-date, significantly outperforming the Gold ETF, which has risen by only 5.3% [7]. - The company is trading at a forward P/E of 7.8, indicating it is undervalued, with a dividend yield of 1.5% [7]. Strategic Positioning - The acquisition of Centamin plc in November 2024 added the Sukari gold mine in Egypt and exploration interests in Egypt and Cote d'Ivoire, enhancing the company's operational footprint [2].