Beating Chelsea did Arsenal no favours – Merson

first_imgLosing to Chelsea “would’ve done Arsenal a favour”, says Paul Merson, with the Gunners not good enough to compete for a top-four finish in the Premier League and chase down Europa League glory.Unai Emery’s side, who have raised their game for the big occasion of late, secured derby spoils when beating their London rivals 2-0 at Emirates Stadium last time out.That result has seen them close to within three points of the Blues and the final Champions League spot. Article continues below Editors’ Picks ‘There is no creativity’ – Can Solskjaer get Man Utd scoring freely again? ‘Everyone legged it on to the pitch!’ – How Foden went from Man City superfan to future superstar Emery out of jail – for now – as brilliant Pepe papers over Arsenal’s cracks What is Manchester United’s ownership situation and how would Kevin Glazer’s sale of shares affect the club? Forcing their way into that pack is considered to be a priority, having seen Arsene Wenger’s reign end with failures in successive seasons, while they are also still in the hunt for a continental prize.Arsenal have reached the last 32 of the Europa League, where they will face BATE, and Merson believes an enforced narrowing of the focus on that competition would have aided the Gunners’ cause for 2019.He told Sky Sports: “It would’ve done Arsenal a favour to get beat the other day, I think, and then they could have put all their eggs into the Europa League.“Now they’ve got to go for the league too but I just don’t think they’re good enough.“They’re hot and cold, you’ve got to be consistent. One minute they’re getting well-beaten by West Ham, but then they’re well-beating Chelsea. The manager’s got to be scratching his head.“This is Arsenal, they need to be playing Champions League football, not Thursday night.“I think Chelsea will edge it, but only just. It’s more the three-point headstart if I’m being honest.”Unai Emery Arsenal 2018-19Merson added on the inconsistency which could work against Arsenal, with Manchester United also in the top-four picture after enjoying a resurgence under Ole Gunnar Solskjaer: “Arsenal will get beaten by a team in the bottom half next week probably, they were getting beaten by West Ham last week and they were very poor.“They won’t have the consistency, I think Manchester United will get found out – they can’t keep on being that lucky, and I say lucky but they’re poor at the back.“Tottenham’s games they’ve got without [Harry] Kane are winnable, so I don’t see a problem with them, the top two will look after themselves and I think Chelsea will get it.“Man for man they’re a lot better than Arsenal I think. Defensively, they’ll be more reliable before the end of the season.“Manchester United have got a couple of nice games coming up, they’ve had some nice games, but I’m a great believer that what follows easy games is difficult games. What about when PSG get hold of them?”Arsenal’s next game is set to see them take on United, with a heavyweight FA Cup fourth round clash to be staged at Emirates Stadium on Friday. Check out Goal’s Premier League 2019-20 fantasy football podcast for game tips, debate and rivalries.last_img read more

Gold in Latin America six juniors amass 100Mozplus resources

first_imgBy Marc Davis, Latin America represents the world’s last great mineral frontier for prolific gold discoveries due to its vast land mass and its geologically fertile terrain. This is proving to be a godsend for some lucky investors, while others have seen their luck turn to shattered dreams.Such drama all began with the Spanish Conquistadores, who failed in their efforts to locate the fabled Eldorado (‘the golden one’) – a mythical lost city brimming with golden riches. However, a peaceful modern-day invasion of intrepid gold seekers is breathing new life into the world’s greatest ever treasure hunt – and they’re proving that there’s some truth to Eldorado’s lustrous legend.Armed with large amounts of cash, sophisticated technology and shrewd geological acumen, a handful of small to large sized mining companies are finally revealing the secret to finding South America’s most prolific gold riches. All of which are clustered either in the northern territories of the continent or in its southern reaches, rather than conveniently concentrated in one Eldorado-like location.Several of the world’s largest gold miners are at the forefront of this epic ‘New World’ gold rush. The ranks of the various other hopefuls are mostly made up of small boom-or-bust gold exploration/development juniors. A select few have already hit the geological jackpot.They include the Canadian gold junior Aurelian Resources. It made the headline-grabbing Fruta del Norte gold discovery in Ecuador in 2006. Thanks to this high-grade 13.7 Moz deposit, the company’s share price skyrocketed from around $0.25 to over $40. This was before the deposit was purchased in 2008 by the mining heavyweight Kinross Gold for the princely sum of $1.2 billion.To date, a total of six other gold juniors have each found world-class gold deposits, weighing-in at 10 Moz or better. Unfortunately, three of these lustrous projects are in Venezuela, which is proving to be fraught with major political risk for asset-rich gold companies. And just last month, unforeseen political events in Columbia essentially derailed a fourth company. More on all of this later.That leaves Chile, where two major gold finds are shaping up nicely without any political bumps in the road – so far. They include what is arguably the most promising of all of Latin America’s gold-copper discoveries of the past couple of decades – the huge Caspiche deposit.Owned by Exeter Resource Corp., the Caspiche gold-copper deposit in northern Chile’s prolific Maricunga gold belt is a veritable monster that weighs in at 24.3 Moz of gold. This figure entails resources in the largely reliable but not definitive Indicated category, as well as the more approximate Inferred category.The deposit is situated at the heart of the ruggedly mountainous Maricunga gold corridor, where over 100 Moz of gold is concentrated and is mostly owned by mining heavyweights Barrick Gold, Goldcorp and Kinross Gold. Only the Cerro Casale gold mine in-the-making is still larger than Caspiche. Jointly owned by Barrick and Kinross, this monster deposit boasts a 26.4-Moz gold resource. But Caspiche is still growing in size (due to continued drilling success) and its management suggests that the company has yet to define the limits of the discovery.Andina Minerals is the other mining junior that is also making solid headway in the Maricunga gold belt. Its Volcan gold project, which consists of three closely grouped deposits, add up to 9.77 Moz in the Measured and Indicated category, as well as a further 768,000 oz in the Inferred category. These deposits – which could all be encompassed into a single mining operation – are still getting larger, according to Andina Minerals president George Bee.Second in size only to Exeter’s Caspiche deposit among the six gold juniors is the 16.8-Moz ounce Las Cristinas deposit in Venezuela. This controversial world-class gold discovery is owned by Toronto-based Crystallex International Corp.Unfortunately for the company’s shareholders, the project’s development was stopped dead in its tracks in mid-2008 by the left-wing, anti-capitalism government of political firebrand Hugo Chavez. The company was ready to build a low-cost 250,000 oz/y mine. In late 2009, the company reported that it was still at an impasse with regards to the Venezuelan government’s refusal to issue it an environmental permit. Crystallex’s share price has been in the doldrums for nearly 18 months, at a fraction of its former valuations.Another victim of Chavez’s capricious government is Spokane, Washington-based Gold Reserve Inc. Its Brisas project hosts 11.8 Moz of gold and approximately 1,600 MIb of copper in the Measured and Indicated category, and 2.28 Moz of gold and 316 MIb of copper in Inferred category. Over the past 17 years, the company has invested over $300 million in what constitutes one of the world’s largest undeveloped gold-copper deposits.Gold Reserve was on the verge of commencing mine construction when it too was ‘arbitrarily’ thwarted in early 2008 by Venezuelan authorities, according to the company. The company’s share price has languished ever since then and its frustrated management is pursuing an international arbitration claim against Chavez’s administration.Another setback for the junior gold sector came just several weeks ago when Vancouver-headquartered Greystar Resources found itself suddenly stymied in its bid to make a lucrative mine out of its Angostura gold-silver deposit in Colombia.With a resource totaling about 11.55 Moz of gold in the Measured and Indicated category and a further 3.37 Moz in the Inferred category, this is a major setback for a project that has been 15 years in the works. Unexpected changes in Colombia’s mining code have placed much of Greystar’s gold resources off-limits as they encroach on an environmentally-sensitive area. Greystar’s share price has also taken a precipitous tumble over recent trading sessions.The last of the select small group of gold juniors in South America with 10-Moz-plus gold resources is Vancouver-based Rusoro Mining. An already established gold producer in Venezuela, the company has mitigated much of the political risk there by partnering up with the regional government of Bolivar State for its producing Isidora mine – the larger of its two mines. The company’s proximal properties in the El Callao and El Dorado gold districts benefit from collective resources of 7.1 Moz of gold in the Measured and Indicated category and a further 7 Moz in the Inferred category.All of these emerging gold deposits represent rich veins of opportunity for supply-hungry major gold producers that are beginning to circle around prospective takeover targets. This is especially the case as the relative scarcity of worldclass gold discoveries in recent years is already taking a toll on the mining industry’s bottom line. Global gold output has been dwindling by nearly 5% per annum since it peaked in 2001, even though bullion’s spot price has virtually quadrupled since then.last_img read more