National Bank of Poland Second Largest Gold Buyer for 2023

If there’s one thing that seems clear in 2024, it’s that central banks want gold. On January 31, Axios reported that central banks bought over 1,000 tonnes of gold in two years, with the People’s Bank of China and the National Bank of Poland standing out at the front of the pack with 225 tonnes and 130 tonnes respectively.

The Narodowy Bank Polski (NPB), also known as the National Bank of Poland, bought 48.52 tonnes of gold in Q2 of 2023, outpacing central banks of China and Singapore for the quarter, reports Bullionstar. According to BullionVault, by the end of December, 2023, Poland had added roughly 130 tonnes to its total gold holdings, overshooting its stated goal to add 100 tonnes during the year, and pulling it into second place for the year.

Reuters explained what gold does for the portfolio of central banks. According to the report, gold is an important element of a diversification, preventing the bank from crashing if any one commodity drops in value, and acts as a stabilizing influence on the economy. Reuters stated that gold “is a physical commodity whose supply can’t easily be added to. As such, it is a natural hedge against inflation.”

In light of concerns about inflation, it may be clear why Bloomberg reported that demand for gold hit record highs in 2023, increasing by 3%, with heavy buying by central banks. Bloomberg expects that this will continue into 2024.

Emerita Resources Corp.

Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCMKTS; LLJA:FSE) recently released the results of its drilling on the El Cura deposit located on the company’s Iberian Belt West property. Emerita found high grade gold and copper, especially in drill hole EC007, which returned 2.9% Cu and 2.81 g/t Au. Joaquin Merino, the company’s President, commented that these drill results could be a step forward towards targeting more high-grade deposits in El Cura.

Emerita has been highly rated by technical analyst Clive Maund, who rated the company as an “immediate buy” that could break out if the stock hits CA$0.70 on August 13, 2023. More recently, on January 26, 2024, Atrium Research commented that Emerita’s Iberian Belt West property was “comparable to some of the largest Zinc mines in the world.”

Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 5.61% of the company. According to Refinitiv, Michael Lawrence Guy owns 1.84% of the company with 4.32 million shares, David Patrick Gower owns 1.18% of the company with 2.76 million shares, Joaquin Merino-Marquez owns 0.89% of the company with 2.09 million shares, Catherine Stretch owns 0.68% of the company with 1.60 million shares, Marilia Bento owns 0.43% of the company with 1.00 million shares, Gregory Duras owns 0.28% of the company with 0.65 million shares, Damian J.D. Lopez owns 0.20% of the company with 0.46 million shares, and Ian T. Parkinson owns 0.11% of the company with 0.25 million shares.

Refinitiv reports that institutions own 1.26% of the company, as Merk Investments L.L.C. owns 1.17% of the company with 2.75 million shares, and Palos Management Inc. owns 0.09% of the company with 0.20 million shares.

According to Refinitiv, there are 234.82 million shares outstanding with 221.63 million free float traded shares, while the company has a market cap of CA$69.78 million and trades in the 52 week period between CA$0.26 and CA$1.03.

NevGold Corp.

NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) recently announced that it had acquired 100% of its Idaho-based Nutmeg Mountain project from GoldMining Inc. The Nutmeg Mountain project has produced high-grade gold and silver in the past, and contains an indicated 1 million ounces of gold at grades of 0.61 g/t Au, and an inferred 275,000 ounces of gold at 0.48 g/t Au.

Technical analyst Clive Maund rated the company as a "strong buy for all timeframes" and commented that the company's stock patterns were "strongly supported by the powerfully bullish volume pattern." 

Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 19.94% of the company. According to Refinitiv, Giulio T. Bonifacio owns 7.30% of the company with 4.94 million shares, Brandon Gennaro Bonifacio owns 6.70% of the company with 4.54 million shares, Gregory French owns 1.62% of the company with 1.10 million shares, Timothy Dyhr owns 1.37% of the company with 0.93 million shares, Victor H. Bradley owns 1.33% of the company with 0.90 million shares, Morgan Hay owns 1.25% of the company with 0.85 million shares, Robert T. McKnight owns 0.33% of the company with 0.22 million shares, and Alastair Charles Still owns 0.04% of the company with 0.03 million shares.

Refinitiv reports that GoldMining Inc., a strategic investor, owns 39.36% of the company with 26.67 million shares.

According to Refinitiv, there are 67.76 million shares outstanding with 27.58 million free float traded shares, while the company has a market cap of CA$16.61 million and trades in the 52 week period between CA$0.24 and CA$0.48.

Goldshore Resources Inc.

Goldshore Resources Inc. (TSXV: GSHR;OTCQB: GSHRF ;FWB: 8X00) recently announced that the company has completed a round of financing to support the Moss Gold project. The company reported that the private placement deal was worth CA$3,750,000, and would support the development of a new resource project and a new mineral resource estimate. 

Technical analyst Clive Maund rated the company as an "immediate strong speculative buy," and commented, "being still very close to the second low of a large Double Bottom at a time when the sector is really coming to life, Goldshore is viewed as being a very attractively priced junior here."

Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 27.32% of the company. According to Refinitiv, Brian Alexander Paes-Braga owns 18.08% of the company, Brett Allan Richards owns 3.78% of the company with 6.54 million shares, Galen Stuart Mcnamara owns 2.36% of the company with 4.09 million shares, Victor Cantore owns 1.57% of the company with 2.71 million shares, Shawn Khunkhun owns 0.60% of the company with 1.04 million shares, Kyle Jonathan Hickey owns 0.58% of the company with 1.00 million shares, and Peter Alan Flindell owns 0.35% of the company with 0.60 million shares.

Refinitiv reports that institutions own 19.55% of the company, as 11.04% of the company with 19.10 million shares, Sprott Asset Management L.P. owns 7.93% of the company with 13.72 million shares, and U.S. Global Investors, Inc., owns 0.58% of the company with 1.00 million shares.

According to Refinitiv, there are 173.02 million shares outstanding with 105.85 million free float traded shares, while the company has a market cap of CA$14.06 million shares and trades in the 52 week period between CA$0.09 and CA$0.33.

Important Disclosures:

1. Emerita Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, NevGold Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NevGold Corp.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.