Mayfair Gold targets 2030 production as US‑Iran tensions stir gold market

Recent escalations between the United States and Iran have had only a limited effect on the price of gold, which continues to be shaped by expectations over Federal Reserve interest‑rate policy and central‑bank buying. Analysts note that a clearer U.S. monetary stance could bring more investors back to gold.

Mayfair Gold Corp., holding 100 % of the Fenn‑Gib project in northern Ontario, reports a provisional resource of 4.3 million ounces of gold and plans to begin production in 2030. The company aims to develop about 1.04 million ounces of probable reserves in its first mining phase, with an amortisation period of 2.7 years at a $3,100/oz gold price. Over the next 6‑12 months it expects to secure permits, indigenous agreements, financing and further exploration.

Newcore Gold Ltd. is advancing its Enchi gold project in southwestern Ghana, covering 248 km². Both companies cite geopolitical risks—including supply‑chain disruptions, trade conflicts and tensions around Taiwan and the South China Sea—as factors that could support gold prices.