Gold boom in 2026: Be on the right side with Newmont, Kobo Resources, and B2Gold

Newmont – Gold mines on the rise

While the price of gold remains close to historic highs, the world's largest gold producer, Newmont, has announced some operational news. A bush fire that had been raging since mid-December in the vicinity of the Boddington mine in Western Australia was brought under control at the end of December. Initial inspections revealed that critical infrastructure remained intact, but the water supply had been damaged. Operations are continuing at reduced capacity for the time being. Production for 2025 has not been affected, but the Company expects a shortfall of around 60,000 ounces for the first quarter of 2026. This robust handling of an operational disruption underscores why many investors are currently focusing on established, diversified companies in the current gold bull market.

Newmont is impressive not only because of its size and geographical diversification, which cushions such locally limited incidents. The Company also benefits structurally from the high gold price and demonstrates operational efficiency. With the Ahafo North mine recently launched in Ghana, a new, cost-effective mining project has been added. At the same time, management is pushing ahead with cost-cutting programs that could further support the already solid margins. From a valuation perspective, the stock appears interesting. It is trading at a discount to key competitors, even though the fundamental growth momentum is comparable. This offers room for a catch-up rally should the sector continue to receive tailwinds.

The underlying bull market in gold is supported by several stable macroeconomic factors. These include ongoing geopolitical uncertainties, which are supporting demand for gold as a store of value. In addition, many global central banks, particularly in emerging markets, are continuing their strategic gold purchases, which is structurally strengthening the demand side. As long as these drivers remain in place and the supply of physical metal remains limited, the environment for large, cost-efficient producers such as Newmont should remain favorable. The short-term production outage at Boddington does little to change this fundamentally positive narrative. The stock is currently trading at USD 108.99.

Kobo Resources - Consistently advancing its drilling program

In recent months, Kobo Resources has significantly intensified exploration activities at its flagship Kossou project in Côte d'Ivoire, driven by a persistently favorable gold price environment. The Company kept two drill rigs in continuous operation even during the December holidays. This aggressive program aims to further open up the known mineralized zones and better define their extent. The decision to postpone the planned initial resource estimate in favor of further drilling underscores the focus on growth. The Company intends to understand the full potential of the system before presenting figures.

Drilling is not limited to the established Jagger and Road Cut zones. The team has now reached a level of progress that allows exploration to be extended to other promising parts of the concession. This indicates growing confidence in the geological model and the potential of the entire license area. Particular attention is being paid to the Kadie zone, where high-grade sections have already been drilled. At the same time, the second project, Kotobi, is being prepared for a drilling campaign in early 2026 with mechanical prospecting work. The strategy is clear. While expanding the known resource cores, new discovery opportunities are being systematically evaluated in parallel to fill the project pipeline in the long term and thus diversify the overall risk of the portfolio.

In addition to purely geological work, Kobo attaches great importance to stable local relationships. Initiatives such as the "Kobo Cup," a local soccer tournament, are more than just image-building. They serve to build practical social acceptance in the region. This approach pays off in improved access to land and a more cooperative local population. For an explorer whose success depends largely on local acceptance and smooth operations, this community-based approach is an often underestimated but critical factor for sustainable project development and risk minimization. The share is currently trading at CAD 0.285.

B2Gold – Strong operations despite market doubts

B2Gold's operational performance shows clear progress. Production at the established Fekola, Masbate, and Otjikoto mines consistently exceeded targets in the past quarter, while total operating costs continued to decline. This positive trend points to increased efficiency in day-to-day operations. A significant milestone was also reached with the new Goose Mine in Canada, which has now commenced commercial production and is being ramped up gradually. This solid foundation in the core operations forms the basis for the next phase of growth.

Despite these improvements, a geopolitical risk discount continues to weigh on the stock, primarily due to the location of the flagship Fekola mine in Mali. However, the recent agreement with the local government and accelerated approval procedures indicate pragmatic and proactive risk management on the part of the Company. The market appears cautious in its assessment of these developments and is focusing more on the general country risk premium than on the specific framework conditions agreed for B2Gold.

The focus is now clearly on successful implementation. The smooth start-up of the Goose mine to full capacity is the next critical test for management. If successful, the portfolio will add significant, low-cost production from a stable legal region. Together with the continued strength of existing operations, this could shift the narrative perception of the Company from a Mali-dominated producer to a balanced, globally positioned gold company with multiple growth levers. The share price is currently trading at USD 4.57.

The gold boom of 2026 offers opportunities, but requires the right strategy. Newmont, as an industry giant, is demonstrating robust crisis management that is cushioning even a production outage in Boddington. Kobo Resources is purposefully advancing the exploration of its Kossou project with an aggressive drilling campaign in Côte d'Ivoire. B2Gold, on the other hand, excels operationally, but must continue to reduce the geopolitical discount for Mali.