Mining Through Uncertainty

Price of Gold USD per Troy Ounce $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 Peak to Present: -$380 (-20.0%) $400 $200 $0 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 NEVADA Mining Association MINING THROUGH UNCERTAINTY '18 '19 $1,515 Source: London Bullion Market Association 20 APPLIED ANALYSIS

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