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MONEY PRINTING IN OVERDRIVE: “Easy Money” Policy Is Even Easier for Gold!
All bets are off now that the Federal Reserve has gone into full-on helicopter mode. Whether you’re invested in the markets or not, you’d better prepare yourself for a historic dollar devaluation and a sharp upswing in the gold price – all thanks to a government that’s pushing its spending habit to the limit.
As QE versions 4 and 5 came and went in the blink of an eye, QE Forever is in full effect and combined with the government’s $2.2 trillion coronavirus relief/bailout package, the Age of Inflation is upon us. It’s a chapter in American history that previous generations couldn’t possibly have imagined – but hard assets, at least, are demonstrating their real, tangible, and enduring value.
And we did catch a glimpse of honesty and truth when Fed Chairman Jerome Powell admitted, “When it comes to this lending we’re not going to run out of ammunition, that doesn’t happen.” We all know what he means by that: more “rescue missions” are coming, more helicopter drops, more “relief” that won’t last long but will unquestionably bolster the gold price this year.
Indeed, precious metals are more precious than ever in this topsy-turvy market environment. Resource-sector investments are at the top of my priority list right now, and my team has been scanning the financial news for breaking developments.
What we found is that Gold X Mining Corp. (TSX-V:GLDX, OTCQX:SSPXF), a company I’ve bought and held for profits on multiple occasions, just released not one but two major news items to the public. These will be highly impactful for the company, of course, but also for the minerals market in general.
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First of all, Gold X Mining just appointed a new CEO and Chairman of the Board of Directors, Mr. Paul Matysek. He will succeed Mr. Rich Munson, who has been appointed as the company’s President. The Board of Directors also appointed Mr. Brian O’Neill, an expert in merchant banking as well as mergers and acquisitions, as a Director.
A geologist/geochemist by training, Paul Matysek was instrumental in recommending and closing the acquisition of 100% of the Toroparu Project, a major milestone in the company’s history. Assuming a gold price of just $1,500 per ounce, Toroparu delivers an outstanding $1.8 billion in free cash flow.
Toroparu’s 7.35 million measured and indicated ounces of in-situ gold resources and average grade rank it among the world’s top deposits owned by an independent junior company, and second in South America. Ounce for ounce, this gold asset makes Gold X Mining Corp. an unbeatable value.
The other big development for Gold X Mining is the announcement of a private placement allowing the company to take in gross proceeds of up to $2,500,000. Subject to the acceptance for filing of the TSX Venture Exchange, this private placement will provide proceeds to potentially be used for obtaining a mine permit, optimizing project economics, mergers and acquisitions, and general corporate activities.
The corporate reorganization and the private placement present shareholders with yet more reasons to celebrate their stake in Gold X Mining. In a rising gold environment, the resource sector will benefit but this particular company has added value and excellent long-term prospects.
And of course, we can always count on the Federal Reserve to position gold and the miners for enhanced profit potential. Gold X Mining Corp.. keeps on surprising the community with great news, but there’s no reason to be surprised if the share price pushes higher throughout the year.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. We have been compensated by Gold X Mining three hundred thousand dollars for online marketing. We also own shares of the company purchased on the open market and their recent private placement. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
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