"Buzz on the Street" Show: Norsemont Mining (OTC: NRRSF) (CSE: NOM) Appoints David Laing to Advisory | Financial Buzz

“Buzz on the Street” Show: Norsemont Mining (OTC: NRRSF) (CSE: NOM) Appoints David Laing to Advisory

FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Norsemont Announces the Appointment of Veteran Mining Executive David Laing to Its Advisory Board.”

Norsemont Mining Inc. (OTC: NRRSF) (CSE: NOM) announces the launch of its newly established strategic committee of trusted advisors (the “Advisory Board“). The Advisory Board will provide technical and strategic counsel to Norsemont’s board and management team and will include distinguished mining industry leaders whose focus will be to provide advice to help shape and guide the strategy of the exploration and mining priorities of Norsemont.

The new Advisory Board will be chaired by David Laing, a mining engineer with 40 years of experience in the industry. Of particular relevance, Mr. Laing wasMine and Plant Superintendent with SCM Vilacollo,which was the joint venture vehicle that Shell and partners used toput the Choquelimpie gold-silver project into production and made it the 3rdlargest gold producer in Chile at that time. His direct experience with the Choquelimpie project, along with his broad expertise, will be a real competitive advantage to Norsemont as it tackles this exciting project.

The value of gold is problematic to forecast, as it contingent on many economic variables as well as on decisions made by the federal reserve. Nevertheless, gold investments are frequently regarded as safe haven in a time of economic and political turmoil. Earlier this week, Federal Reserve Chairman Jerome Powell, indicated once again his concerns and uncertainty in regards to economic recovery. “The levels of output and employment remain far below their pre-pandemic levels, and significant uncertainty remains about the timing and strength of the recovery. Much of that economic uncertainty comes from uncertainty about the path of the disease and the effects of measures to contain it. Until the public is confident that the disease is contained, a full recovery is unlikely,” Powell said on Tuesday as he appeared before the Senate Banking Committee on Tuesday. As a result, gold and silver prices traded with gains on Tuesday and Wednesday; August gold futures were up about USD 9.50 an ounce and priced at about USD 1,737 as of Wednesday. 

Earlier on Monday, it seemed gold prices were on their way to a sharp decline. They had then, however, turned and rallied back to almost unchanged, as both gold and silver prices held key support positions. According to Kitco News, the investment research firm CFRA is currently optimistic on gold, saying the current macroeconomic setting for the metal to rally is strong as a result of global pandemic and steps taken to flatten the curve of the spread. “In our view, gold is the best hedge against economic uncertainty in general and, more specifically, against fiscal deficit, negative-yielding bonds, fiat currency debasement and potential inflation,” the report said. “Although equity markets are attempting a strong bounce-back from the steep declines in the first quarter, there is a disconnect between the current recovery and the economic reality and the recent strength in equities could be underestimating the risk of a subsequent outbreak.”

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