Gold Selling After the War
Contributed Opinion

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2. Ron Struthers: I, or members of my immediate household or family, own securities of: Equinox Gold Corp. and Great Pacific Gold Corp. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
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We can see below the gold selling after the war started was all North America. Asia actually bought a little

Data for physical buying is not out yet and will be interesting to see if Q1 2026 keeps up with 2025's pace.

For more on gold, check the PlayStocks Gold Pages (#3 in Google search).

Today, we got some great drill results on a couple of our junior explorers/producers. Equinox Gold announced Q1 2026 production numbers.

Equinox Gold 

^{Recent Price – CA$21.05}

^{Entry Price - CA$5.35}

^{Opinion – Hold, Buy}

Equinox Gold Corp. (EQX:TSX; EQX:NYSE.A) delivered a strong first quarter, producing 197,628 ounces (“oz”) of gold, including 87,402 oz from its two Canadian operations.

EQX sold their Brazil operations for $1 billion, and if we subtract that 73,745 quarterly production from Q4 2025 production of 247,024, the Q4 production would have been 173,279 ounces, so an increase of about 24,000 ounces.

A record 247,024 ounces was produced in Q4 2025, including 72,091 ounces from Greenstone, 23,207 ounces from Valentine, 61,885 ounces from Nicaragua, 73,745 ounces from Brazil, 14,761 ounces from Mesquite, and 1,336 ounces from Castle Mountain.

I would continue to hold the stock, and for exposure to the next gold bull move, it still is a Buy.

Great Pacific Gold 

Recent Price - CA$0.47

Entry Price - CA$0.93

Opinion – Buy, Average down to CA$0.60

Great Pacific Gold Corp. (GPAC:TSXV; GPGCF:OTC) announced more good drill results at its Wild Dog project

Kavasuki KVH-04 Highlights:

• Intercepted 90 meters @ 1.43 g/t AuEq from 8.70 meters (1.33 g/t Au, 1.24 g/t Ag, 0.05% Cu)
• Including 0 meters @ 2.69 g/t AuEq from 35.0 meters (2.61 g/t Au, 2.18 g/t Ag, 0.04% Cu), and
• Including 50 meters @ 2.78 g/t AuEq from 61.1 meters (2.27 g/t Au, 1.99 g/t Ag, 0.31% Cu).

Kavasuki KVH-05 Highlights:

Well-developed multi-phase quartz-carbonate veining from near-surface to ~33 m, including crack-seal textures, stockwork zones, and locally brecciated vein domains; assays pending. KVH-05 represents a ~35 m down-dip step from KVH-04,

Results continue to support continuity of near-surface mineralization approximately 1 km north of the Sinivit deposit along the Wild Dog structural corridor. I have little doubt that this will be a second deposit on the project.

On the chart, the stock has been range-bound the past year, and now, near the bottom of this range, makes for a good buying level.

The stock was originally Fosterville South and did a name change with the Wild Dog acquisition. I believed it had strong potential and was worth holding on to, and now that it has advanced nicely, it is time to average down to $0.60.

Heliostar Metals 

Recent Price - CA$2.55

Entry Price - CA$2.95

Opinion - Buy

Heliostar Metals Ltd. (HSTR:TSX.V; HSTXF:OTC; RGG1:FRA) announced some excellent additional results from the Expansion Zone at its 100% owned Ana Paula project in Guerrero, Mexico.

Drilling in this area is testing the down-dip extension of the current Ana Paula resource envelope.

HIGHLIGHTS:

• Expansion Zone
  • 0 m grading 5.34 g/t gold from 512.5m
  • 75 m grading 9.11 g/t gold from 484.65m
  • 2 m grading 2.26 g/t gold from 647.0m
  • 15 m grading 6.98 g/t gold from 464.3m
• Headline intercept open to north and south
• Results pending from an additional five holes in the Expansion Zone

Heliostar CEO, Charles Funk, commented, "The results reported today continue to increase our confidence that the high-grade deposit at Ana Paula continues at depth. The program's success so far has been twofold: continuing to hit impressive broad intervals of high grade and providing additional data that allow our team to refine the targeting model in the Expansion Zone."

He continued, "With two bodies of gold mineralization beginning to be defined, the 101 m of 5.34 g/t gold in hole AP-25-374 builds on the previously reported result of 25.45 m of 8.26 g/t gold also in the west pod. Today's headline hit is open to the north and south with assays pending for step-out drill holes."

We first bought HSTR in February after the correction, but as you know, the gold stocks corrected further.

If you missed buying in our update around CA$2.10, it is still a good buy here. It looked like the stock was going to break above resistance around CA$2.50, but fell back down. I think that the breakout is not far away.