Gold has taken the market by storm in 2020, rallying to record highs on investors turning to the precious metal given its safe-haven credentials. With the global economy showing no signs of recovery amid the COVID-19 pandemic, the precious metal looks set to continue powering high. Likewise, firms are moving with speed to leverage the high gold prices.
U.S Gold Corp Exploration Works
U.S. Gold Corp. (NASDAQ:USAU) is one of the company’s buoyed by the high gold prices that make its exploration activities highly viable. The company is moving with speed to complete feasibility studies of its CK Gold project, 25 miles of Cheyenne, Wyoming.
The company has embarked on drilling activities designed at gathering fresh mineral samples for metallurgical tests. Precious samples collected so far have indicated 26% copper and 89 g/t gold with little or no deleterious elements. Given the current market conditions that have seen gold prices power to $2,000 an ounce, U.S Gold Corp believes it’s PEA, and internal estimates of the project remain conservative.
Digital Gold Token
As U.S Gold Corp embarks on aggressive exploration activities, British company, Great Mountain Holding Group, has unveiled a digital gold token economic system based on blockchain technology. The new system is designed to bring new liquidity and ownership opportunities to the gold industries. The digital gold ecosystem is to serve the wider gold value chain especially on mining and production. The system leverages blockchain technology to enhance gold provenance and traceability.
CORO Gold App
The unveiling of the digital gold token comes hot on the heels of Coro Global Inc. (OTCQB:CGLO), securing a money transmitter license for its gold payment app CORO. The payment app is designed to allow users to exchange, send, and save gold and U.S dollars, easily and securely.
The CORO app is built on state of the art Hash graph Distributed Ledger Technology, thus making it highly resilient to cyber-attacks. Likewise, users will be able to send and receive money globally instantly at affordable rates.
Separately, The OTC Group has welcomed Trillium Gold Mines Inc. (TSX-V: TGM;OTCQX: TGLDF) to the OTCQX exchange. An upgrade to the OTCQX market opens the door for Trillium Gold to gain exposure to the U.S and global investors.