Bedford Metals Comments on Gold Market Dynamics & Engages Grander Exploration for Margurete Gold Project

VANCOUVER, British Columbia, May 07, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) comments on the recent surge in gold prices and its impact on gold miners, drawing from an article by Michael Brush in the Dow Jones Newswire dated April 6, 2024.

According to Brush's analysis, gold prices have experienced a remarkable ascent, climbing more than 10% since Valentine's Day and over 20% since last October, reaching all-time highs. While the shares of gold mining companies have exhibited a varied growth rate compared to the recent surge in gold prices, this variation has initiated insightful discussions about the future trajectory of gold investments.

[Quote from Dow Jones Newswire]: "Either gold shares rise from here or gold prices take a dive," states Michael Brush, columnist for MarketWatch. "Something's gotta give in the world of gold investing."

Christopher Mancini, co-manager of Gabelli Gold Fund, shares his optimistic outlook, asserting that gold stocks are poised for significant growth if gold prices persist. Mancini emphasizes that the current prices are not adequately factored into the valuation of gold mining stocks, presenting an opportunity for substantial gains.

Although gold mining stocks have not advanced at the same pace, industry experts maintain a bullish outlook on gold prices. They cite reasons such as ongoing central bank purchases of gold, sustained demand from Chinese investors, and favorable macroeconomic conditions in the U.S.

[Quote from Dow Jones Newswire]: "We see investors do want exposure to gold…so the more unhedged we can keep that exposure, the better," comments Jake Klein, executive chair of Australian gold producer Evolution Mining.

Bedford Metals recognizes the potential for significant growth within the gold mining sector and remains committed to leveraging favorable market conditions to enhance shareholder value. The Company continues to focus on advancing its Margurete Gold project to capitalize on the buoyant gold market.

In line with this strategic focus, Bedford Metals is pleased to announce the appointment of Grander Exploration as the project manager for the upcoming exploration program at the Margurete Gold Project. With their extensive experience in managing detailed exploration programs, Grander Exploration brings invaluable expertise to Bedford Metals' ambitious plans for the Margurete Gold Project.