Gold is coming back with a vengeance says Chitaroni

submitted photo Northern Prospectors Association President Gino Chitaroni. KL

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Northern Prospectors Association President Gino Chitaroni says 2018 was a year of massive change.

Speaking Sunday at the NPA annual general meeting Chitaroni stated “the Ontario government thrust upon our industry major structural changes in the way we do business with respect to acquiring and managing claims. This was not well thought out and when it was rolled out it has created major problems for the exploration industry in adopting the changes.

“In politics, we have a new Ontario government, hopefully with a friendly outlook on exploration and mining. While at the same time, Canadian Federal government has been completely lost and rudderless on resources projects, particularly pipelines, which has sent a negative message to investors in all sectors”

He went on to say “we have seen the crash in the Cobalt market bubble and the creation of a new bubble of interest in the Vanadium market. The whole battery metals market has cooled. All major metals are down due to a global economic slowdown.”

He pointed out however that “gold appears to be coming back in the midst of worldwide economic and market volatility.”

During his speech Chitaroni did not hide his dislike of U.S. President Donald Trump, calling him a “wild man” and also stated “we have Brexit coming up, a possible worldwide recession, and almost every government in the world is eye ball deep in massive debt so we cannot rule out another worldwide financial crisis. I see this year and the next few years as the “years of gold”. Gold is coming back with a vengeance. Silver will most certainly follow gold. All of this benefits our industry.

“We must remain vigilant and fight for our rights as explorers and work with the different levels of government to eliminate red tape that hurts our industry.”

He finished his address by stating “remember, exploration makes mines that creates high paying, direct jobs. It is a multiplier of jobs in other sectors that when all is taken into account results in economically, sustainable communities in rural and Northern Ontario.”