Pandemic initially decimated financings for gold projects, but market has rebounded, Mining Intelligence says

Osisko Mining’s Windfall project. Credit: Osisko Mining.

A review of capital raisings for gold projects around the world between February 1, 2020 and February 28, 2021 conducted by The Northern Miner’s sister company Mining Intelligence, has found that of the $2.9 billion raised for gold projects in 41 countries, 75% went to projects in just five countries – Canada, Mexico, Australia, the United States and Chile. Of those, Canada received the lion’s share with $965.07 million (34%). Mexico followed in second place with $389.09 million (14%); Australia with $291.04 million (10%); the US with $255.56 million (9%); and Chile with $253.71 million (9%).

Katja Freitag, the manager of Mining Intelligence who teased out the data and crunched the numbers, noted that while “capital raisings dropped off significantly in March 2020 due to the coronavirus pandemic, they started to recover in April 2020, allowing money to flow into gold exploration.”