Declin ing Glo bal Go ld Discover ies Gol d di sco v ery r at es are dow n si gni fi c an tly from the 1 9 9 0 s an d 2 0 0 0 s de spi te hi gh expl or at i on spe ndi ng N o maj or gol d di sco v eri es i n the past three y ears 16 Global Gold Dis coveries vs Explo rat io n S pe ndin g 19 90 2019 IN V E S T O R PR E S E N T A T IO N JUN E 2020 G o ld in maj o r d is cov e rie s m ill ion s o f o u n ce s G o ld e xp lora tio n b u d ge t U S m ill ion s