- The inflation rate in the United States for the 12 months ending February 2022 was 7.9%, the highest it has been since January 1982
- In addition to the rise in inflation, the price of gold has risen to levels not previously seen
- StraightUp Resources Inc. looks to capitalize on this growing price and looks to benefit from it given its investments in properties with a rich history of gold production
Although today there are a number of investments being touted as the best hedges against inflation, the current high rate of inflation, and its long-term prospects for continuing, together with a variety of geopolitical risks, have led investors to take another look at gold. The current inflation rate in the United States for the 12 months ending February 2022 stood at 7.9%, the highest since January 1982 (https://ibn.fm/uSmXi). In addition, the inflation-adjusted value of gold has been touching record high levels. It is further projected that the value will continue to rise given the uncertainty in Europe with the Russia-Ukraine conflict (https://ibn.fm/j6gF0).
StraightUp Resources (CSE: ST) (OTCQB: STUPF) stands to be one of the beneficiaries of the growth in gold’s value. With its flagship property located in the Red Lake Mining District of Ontario, known for over 30 million ounces of historic gold production, this enterprise is set to benefit significantly from the surge in the metal’s value, and shareholders are looking for reflected growth in the company’s share price and the overall value of the enterprise.
StraightUp has been committed to mineral exploration and acquiring mineral assets in North America. Its goal has been to maximize shareholder wealth through mineral discoveries at projects with the best potential, maintaining long-lasting partnerships, continued acquisitions, development, and exploration of mineral resource properties in North America.
This has seen it acquire strategic properties rich in gold, including the 10,000-hectare RLX projects, sharing a common border with critical properties such as Evolution Mining, Pacton Gold, Dixie Gold, and Great Bear Resources properties. In addition, the company’s Belanger Project has seen three significant exposures of gold, copper and silver over a 2,000-hectare property, with similarly promising results showing up in the Ferdinand Gold Project and the Bear Head Gold Project.
StraightUp’s management is optimistic about the future and the value that it is expected to generate. Earlier this year, the company received its early exploration permit (“PR-21-000261”) from the Ministry of Northern Development and Mine, Natural Resources and Forestry (“NDMNF”), granting it the authority to proceed with mechanized drilling and geophysical surveys (https://ibn.fm/K8jdd).
The company plans to capitalize on this permit to develop and test gold targets, starting with detailed data compilation, including interpretation of the high-resolution airborne geophysical surveys conducted in 2021.
With the price of gold going up, the company’s exploration efforts are slowly proving themselves invaluable. In addition, it is validating its exploration goals, and the management is confident that the investments made so far will pay off significantly as time progresses.
For more information, visit the company’s website at www.StraightUpResources.com.
NOTE TO INVESTORS: The latest news and updates relating to STUPF are available in the company’s newsroom at https://ibn.fm/STUPF
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