$1,400 an ounce for gold is a price level not seen in six to seven years, and is a level that is needed to kick mining projects into overdrive, said Amir Adnani, chairman of GoldMining and CEO of UEC.

“It’s a mark that from a standpoint of project development, makes many other projects that are maybe borderline economic or just need that extra move in the gold price to become interesting and economic, and also it’s the price that makes most intermediate gold producers start to trade at a premium to [net asset value],” Adnani told Kitco News on the sidelines of the PDAC 2019.

Once miners start trading at a premium, they will start focusing on the growth pipeline, making exploration and development much more positive.

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Name Last Change
DOW 28135.40 0.01%
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NASDAQ 8734.88 0.20%
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Resource Commodities

Name Last Change
Gold 1475.64 0.77%
Silver 16.94 0.41%
Copper 2.78 2.781
Platinum 901.00 0.67%
Oil 60.07 1.48%
Natural Gas 2.30 1.39%
Uranium 25.45 0.78%