Shows
Kitco MININGOrla CEO: “We’ve Achieved Exactly What We Set Out to Do”Orla Mining (TSX: OLA; NYSE: ORLA) President and CEO Jason Simpson said the company is stronger than ever after its latest acquisition of the Musselwhite mine from Newmont. Q2 production jumped 134% year over year, the share price is up 170%, and market capitalization is approaching US$4 billion.“We've achieved exactly what we set out to do,” Simpson told Kitco at the Mining Forum Americas conference, adding, “the objective was to get a gold company set up for just this period in the market. We are set up, and the company has never been stronger.” He pointed to Musselwhite’s potentia...
2025-09-2923 min
Kitco MININGAlamos Growth Pipeline: PDA Underground, Island Expansion, $72M ExplorationAlamos Gold (TSX: AGI; NYSE: AGI) President and CEO John McCluskey speaks with Kitco Mining at the Mining Forum Americas 2025 after announcing the sale of the company’s Turkish development projects for US$470 million in cash. The deal includes bank-guaranteed installments of US$160 million at close, followed by payments on the first and second anniversaries, and is expected to end Alamos’ BIT claim. “With that first payment, we’ll essentially put it against our US$250 million debt. We’ll reduce debt down to less than $100 million,” McCluskey says.In Q2, Alamos produced 137,000 ounces at just under US$1,500 per ounce AI...
2025-09-2924 min
Digging DeepSilver Breaks $35! Next Stop $50 – ErfleIs silver's technical breakout above $35 the real deal, and could it rapidly surge to $50? David Erfle from JuniorMinerJunky discusses silver's technical breakout above $35 and the potential for it to quickly reach $50, referencing its history of rapid, violent moves. In this latest episode of Digging Deep with Kitco’s Senior Mining Editor and Anchor Paul Harris, he notes that silver miners are already leading the metal higher, with ETFs like SIL and SILJ posting multi-year highs ahead of the breakout. The conversation delves into turnaround stories at Americas Gold and Silver and McEwen Mining, discussing their strategies, financing, and potential fo...
2025-06-1128 min
Kitco MININGGold Mergers Are Heating Up: Which Deals Make Sense?Gold mergers are heating up! Which gold companies should merge next—and who’s being left behind? At PDAC 2025, Kitco Mining is swiping through potential gold company mergers in our special ‘Tinder for Gold Mergers’ segment. Adrian Day, CEO of Adrian Day Asset Management, and Kitco’s Senior Mining Editor and Anchor Paul Harris break down the biggest deals, including Equinox Gold’s $2.6B acquisition of Calibre Mining. Which mergers make sense, and which ones are fool’s gold? Find out as we explore the shifting landscape of gold mining M&A, cash flow strategies, and jurisdictional challenges.Key points...
2025-03-1826 minDigging DeepGold Mining Profits Surge: Is This the Investor Payday?Are mining companies finally delivering the returns investors have been waiting for? Discover how margin expansion in the gold sector is changing the game. Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Nicole Adshead-Bell, Director at Cupel Advisory, about the 2024 financial results for mining companies. They discuss Agnico Eagle Mines' record margins and Newmont's all-in sustaining costs decreasing. Adshead-Bell shares insights on shareholder returns, M&A activity in the gold and copper spaces, and challenges in the copper developer space. She also touches on Barrick Gold potentially re-domiciling and financings in the mining sector.Key Po...
2025-02-2620 minKitco MININGIs Mining at Rock Bottom? Here's How High It Could Go – Rob McEwenIs the mining sector really at the bottom of the cycle? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Rob McEwen, Executive Chair & Chief Owner of McEwen Mining, at the 2025 Mines and Money Conference in Miami. McEwen shares his insights on the current commodity cycle, highlighting that commodities are at a 10-12-year low relative to financial assets and are expected to rise. He also discusses the Los Azules project in Argentina and McEwen Mining's innovative approach to sustainable mining. Key Points:- Commodities are at the bottom of their cycle and are expected to...
2025-02-2622 minKitco MININGGold Mining in the USA: Borealis Mining's Plan for ExpansionIs Nevada still a prime location for gold mining? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Kelly Malcolm, the CEO of Borealis Mining at the 2025 Mines Money Conference in Miami about gold mining in the USA. Borealis Mining went public in August 2024 and is already seeing the positive effects of rising gold prices. Kelly discusses the company's strategy of acquiring undervalued assets like Gold Bull resources and consolidating them into a larger, more financeable entity. Borealis is focused on resuming production at its permitted mine and aims to become a mid-tier miner in Nevada.Ke...
2025-02-2513 minKitco MININGMining Investment Secrets: A Contrarian's Guide to Finding Hidden OpportunitiesInvesting in mining? Learn the importance of long-term vision and adaptability in a shifting market. Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Whitney Kofford from Sorbie Bornholm, at the 2025 Mines and Money Conference in Miami. Kofford discusses mining investment strategies, emphasizing the significance of a company's long-term vision and clear communication. She highlights the firm's focus on micro, small, and mid-cap companies, particularly those involved in the energy transition. Kofford also points out the need for mining companies to improve their marketing by leaning into their unique brand voice to connect with investors on an emotional le...
2025-02-2522 minKitco MININGEquinox Gold & Calibre Mining Merge: A New Gold Giant is BornWhat's next for Equinox Gold after the Calibre merger? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Ross Beaty, Chair of Equinox Gold, at the 2025 BMO Global Metals, Mining & Critical Minerals Conference. Beaty discusses the recent merger of Equinox Gold with Calibre Mining, a CAD$7.7 billion transaction that will create one of the largest gold producers in the Americas. He highlights the synergies between the two companies, the benefits of a zero-premium deal, and the expected positive re-rate for the combined entity. Beaty also touches on the company's strategy for deleveraging and rationalizing its asset portfolio.
2025-02-2516 minKitco MININGGold Near $3,000: Why Mining Stocks Aren't SoaringIs the mining industry facing a crisis of investor confidence? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Kevin Murphy, Research Director for Metals and Mining at S&P Global Market Intelligence, at the 2025 Mines and Money Conference in Miami. Murphy discussed the current state of the commodity cycle. He highlights the divergence in commodities, with gold prices flirting with $3,000 an ounce while others like nickel and zinc struggle. Murphy also addresses the difficulties junior mining companies face in securing financing and the impact of past debt and changing investor attitudes. Murphy touches on M&A activity, sh...
2025-02-2419 minKitco MINING'All the Dominos Tumble' with 10% Stock Market CorrectionIs the stock market due for a correction? See how this could affect your investments in commodities. Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, at the Mines and Money Miami conference. McGlone shares his insights on the commodity cycle, with a close watch on crude oil and copper, and discusses the potential impacts of tariffs, especially concerning China's influence on copper demand. McGlone also explores gold's performance, noting its outperformance against the S&P 500 and the influence of central bank buying, while expressing caution about an overvalued U.S...
2025-02-2127 minDigging DeepCopper Has Broken Free From the Energy Transition Myth and Is Doing Its Own ThingWhat’s copper's real story and what are the forces driving the market? In this episode of Digging Deep, Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Christopher Ecclestone, Principal and Mining Strategist at Hallgarten & Company, about the factors influencing gold prices. Ecclestone shares his insights on taking profits in gold and the importance of dividends from gold companies. They also discuss copper's supply and demand dynamics, the potential of tungsten and antimony as critical metals, and Almonte's position as a tungsten producer. Finally, they touch on McEwen Copper project in Argentina and the country's large investment ince...
2025-02-2136 minKitco MININGTrump's Policies Will Unlock U.S. Copper DominanceIs copper about to explode? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Barry O'Shea, CEO of Highland Copper, at the 2025 Mines and Money Conference in Miami. They discuss the recent surge in copper prices and Highland Copper's project in Michigan. O'Shea highlights the potential impact of the Trump administration's focus on domestic resource independence and the importance of refining capacity in the U.S. Highland Copper aims to reach a construction decision for its Copperwood asset by the end of 2025.Key Points:- Copper price surge driven by energy policies and resource independence
2025-02-2115 minKitco MININGInvestment Demand Is Silver Price Spike WildcardKitco’s Senior Mining Editor and Anchor Paul Harris interviews Peter Krauth, author of ‘The Great Silver Bull’ and editor of Silver Stock Investor at the Vancouver Resource Investment Conference. They discuss silver's performance in 2024, noting its significant price increase from a low of $22 to $35 per ounce. Krauth highlights the supply deficit in the silver market and the growing industrial demand, especially from the solar sector. He emphasizes the potential impact of investment demand on silver prices, suggesting it could lead to a price spike. Krauth also shares some silver stock picks to watch.Key Points:- Silv...
2025-02-1923 minKitco MININGJunior Capital Challenge Is Investor OpportunityIs now the time to invest in gold equities? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Ross Beaty, Chairman of Equinox Gold, at the Vancouver Resource Investment Conference. They discuss Equinox Gold's impressive growth, strategy, and the future of the gold and silver markets.Key Points- Equinox Gold's journey to becoming a near million-ounce producer with eight operating mines.- The company's focus on deleveraging and optimizing its portfolio.- Ross Beaty's insights on the disconnect between gold prices and equity values.- A look at opportunities in the co...
2025-02-1829 minKitco MININGSelective Optimism for Gold Stock AlphaInvesting in Alpha: How to find company-specific opportunities in any market? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Warren Irwin, President & CIO of Rosseau Asset Management, at the Vancouver Resource Investment Conference. Gain insights into the resource investment landscape and what to expect in 2025.Key Points:- Gold Market: Gold equities underperforming despite record highs, facing competition from crypto and tech.- Canadian Mining: Discusses potential for a new conservative government to boost resource industries by streamlining permitting and building pipelines. Criticizes government interference in mining, using Solaris Resources as an example.
2025-02-1223 minKitco MININGNo Excuse Not to Make a Million – Rick RuleCould you really make $1-2 million from mining stocks in the next few years? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Rick Rule, President & CEO of Rule Investment Media, at the Vancouver Resource Investment Conference. Rule shares his insights on mining stocks, market outlook, and the potential impact of the Trump presidency on the resource world.Key Points:- Mining Stock Opportunities: Rule discusses how investors can potentially make significant gains by focusing on strong management teams and understanding market dynamics.- Gold Market Analysis: Insights into central bank vs. retail investment in...
2025-02-1124 minKitco MININGFrom Oil to Ore: Saudi Arabia's Bold Plan to Dominate Mining – Khalid Al-MudaiferNew gold and lithium discoveries in Saudi Arabia - what does it mean for the global market? Kitco’s Senior Mining Editor and Anchor Paul Harris speaks with H.E. Khalid Al-Mudaifer, Vice-Minister for Mining Affairs of the Kingdom of Saudi Arabia, at the Future Minerals Forum in Riyadh. Al-Mudaifer discusses Saudi Arabia's ambitious push to develop its mineral resources and establish mining as the third pillar of its industrial sector, following oil and gas and petrochemicals. The interview highlights significant announcements, including new gold discoveries. Al-Mudaifer stresses the importance of partnerships in building the mining sector, drawing parallels wi...
2025-02-1114 minKitco MINING2030 Josemaria-Filo production goalWhat's the next big play in the mining sector? Kitco’s Senior Mining Editor and Anchor Paul Harris speaks with Adam Lundin, Chair of Lundin Mining. Lundin discusses the company's recent successes and future plans at the Future Minerals Forum in Riyadh, Saudi Arabia. He highlights the excitement surrounding Saudi Arabia's interest in diversifying into minerals and the challenges of financing mineral projects. Lundin emphasizes the importance of operations and growth projects. He speaks about Lundin Gold's record production and exploration potential, and the BHP partnership in Argentina. The discussion also touches on geopolitical considerations, critical minerals, and the ou...
2025-02-1016 minDigging DeepTrump's Mining Boom: How New Policies Could Reshape the Industry – John FeneckHow will President Trump's policies specifically affect the mining industry, and which companies are best positioned to capitalize on these changes? In this episode of Kitco Mining's Digging Deep, John Feneck, founder and CEO of the Feneck Commodities Report, discusses the current state of the mining and commodities markets. Feneck speaks with Kitco Senior Mining Editor and Anchor Paul Harris to share his insights on how President Trump's policies are impacting the mining sector, particularly regarding critical minerals and domestic production. The discussion also covers gold's potential, the disconnect between gold prices and gold stocks, and the possibility of...
2025-01-3131 minKitco MININGHigher gold prices have a ‘silver lag’- Vizsla Silver’s Michael Konnert on precious metal catch upSilver can move quickly in a short period of time, noted Michael Konnert, president and CEO of Vizsla Silver. On Thursday Konnert spoke to Kitco Mining. Vizsla Silver (NYSE: VZLA) is advancing its Pacuno project in Mexico. The company received its preliminary economic assessment in July. Highlights were an estimated after-tax NPV (5%) of more than US$1.1 billion, an after-tax IRR of 85.7% and a payback over a period of about nine months. Annually, the mine is projected to produce an average of 15.2 million silver equivalent ounces. The company is working towards a feasibility study to...
2024-08-2014 minDigging DeepGold will drive best performers higher, says AgroThe high gold price will carry the share price of gold producers with strong financials to much higher levels, Hugh Agro, president and CEO of Revival Gold (TSXV:RVG) told Kitco Mining’s Digging Deep.“US$2,500 gold is a bull rally. I don't think many forecasters would have expected that, even two, three years ago. … If we have this healthy gold price and very strong quarterly results coming out of the majors and the intermediates, … we're going to see this gold price carrying companies with excellent free cash flow and earnings,” said Agro.Agro said Gold Field...
2024-08-2028 minKitco MINING'Mind-boggling' low - Sprott CEO John Ciampaglia on underpriced silver catching up to goldSilver prices should spike higher with gold hitting a new all-time high above $2,500 an ounce, said John Ciampaglia, CEO of Sprott Asset Management. Last week, Ciampaglia spoke to Kitco Mining. Western investors are finally starting to show an interest in gold, noted Ciampaglia, driven by concerns about market disruptions and geopolitical risks. However, gold miners haven't seen the same level of interest, which Ciampaglia attributed to the lack of institutional investment. He also noted the recent pause in China's gold buying, interpreting it as a strategic move to influence the market.While gold ha...
2024-08-2016 minKitco MINING'The better value might be in silver right now' - Jeff Clark on precious metals moving higherSilver usually out-performs gold, but silver starts slower, said Jeff Clark, founder of the TheGoldAdvisor.com.Last week Kitco Mining spoke to Clark. Clark noted that the gold miners, represented by GDX, haven't outperformed gold. As of August 8, both gold prices and the GDX were showing similar returns. Clark expected the gold miners to start to turn around when the miners start showing higher free cash flow in Q2. Mergers and acquisitions are expected to pick up as producers gain more cash, driven by the need for majors to acquire ounces.Si...
2024-08-1812 minKitco MININGIs the market in the mood for more M&A? Barrick's Mark Bristow copper, gold and project pipelineCopper and gold work together, said Mark Bristow, CEO of Barrick Gold. On Thursday Bristow spoke to Kitco Mining. Early this week Barrick Gold filed its Q2. Analysts had been following the second quarter results of all the gold miners to see how strongly the companies might perform off record high prices for the metal. Net earnings at Barrick were up 25% and the attributable EBITDA margin was up 17% quarter on quarter to 48%. Gold production was 948,000 ounces in Q2, up 0.8% from the prior quarter and a 6% decrease for the same period a year ago. Bar...
2024-08-1712 minKitco MININGGold prices are breaking all-time highs, so why can't junior resource companies catch a break?Junior resource companies are starved for attention and undervalued, according to institutional advisor Jayant Bhandari. Last week Bhandari spoke to Kitco Mining. Gold has hit several all-time highs in 2024. Despite roaring metal prices, upside for the resource stocks has been limited. As of August 14, the VanEck Junior Gold Miners index is up 20% year to date while physical gold is up 17%. Bhandari said the market fixates on just the large gold miners. "Junior mining companies are not followed by big investors," said Bhandari. "Mining companies tend to stay away from junior mining companies until the...
2024-08-1615 minDigging DeepCopper on the cusp after $3.25 billion mega dealCopper M&A should heat up as a result of BHP (NYSE:BHP) and Lundin Mining (TSX:LUN) agreeing to buy Filo (TSX:FIL) for $3.25 billion (C$4.5B) and create a joint venture to develop the Josemaria and Filo del Sol deposits in San Juan Argentina, Neil Adshead, Consultant Analyst at Commodity Discovery Fund, said on Kitco Mining’s Digging Deep.This week Adshead recorded an episode of Digging Deep with Kitco Correspondent Paul Harris. “I suspect in every major mining company boardroom of the world, they will be asking questions of their own corporate devel...
2024-08-0324 minKitco MININGExpensive, extremely complex and fraught with risk - MJG Capital Matt Geiger on copper hurdlesCopper projects still need a better incentive price, said Matt Geiger, managing partner at MJG Capital. On Tuesday, Geiger spoke to Kitco Mining. MJG Capital is a limited partnership that specializes in long-term natural resource investments. Founded in 2011, the partnership holds a concentrated, long-only portfolio of natural resource equities.Geiger noted that copper-focused investments had increased significantly in his company's portfolio, up to 36%. Despite copper prices trading higher in 2024, the incentive price for greenlighting a copper mine needs to be higher. "[Copper mines] are extremely complex, technically difficult, and expensive projects to...
2024-07-2617 minKitco MININGUnstable supply chains are in no one's interest - DOE's Jigar Shah and $285 billion in IRA loansDiversified supply chains are necessary, said Jigar Shah, director of the Loan Programs Office, U.S. Department of Energy. On Tuesday, Shah spoke to Kitco Mining. After the Biden administration passed the Inflation Reduction Act nearly two years ago, Shah's office has been behind notable mine financings, such as $102.1 million to Syrah Technologies LLC to process graphite, and $2.26 billion to Lithium Americas for Thacker Pass. The goal of the IRA is to invest in America's domestic energy production while spurring development in clean energy. As of June, the cumulative dollar amount from the loads office to...
2024-07-2507 minDigging DeepSmart money coming into Newmont: ErfleWith analysts expecting another strong earnings quarter from Newmont (NYSE:NEM) when it announces its June quarter results on 24 July, main street investors should start taking notice of gold stocks, Junior Miner Junky editor David Erfle told Kitco Mining's Digging Deep. "I see smart money coming into Newmont. ... The Newmont share price is the big boy, the bellwether, the one that everybody looks at. ... Since the end of February, they've been leading the gold stocks up," said Erfle. In anticipation of better days ahead, major mining houses such as Agnico Eagle Mines, Zijin Mining and Ba...
2024-07-2427 minKitco MININGUntapped opportunity in the royalty space - Nations Royalty builds on Golden Triangle pipelineNations Royalty (CVE: NRC) has a first mover advantage, said Kody Penner, VP, corporate development at Nations Royalty. Last week Kitco Mining spoke to Penner and Derrick Pattenden, chief investment officer at Nations Royalty. Nations Royalty is a newly-formed royalty company under-pinned by five Nisga’a Benefits Agreement Royalties with a net asset value of $214 million. According to the company's news release, the company’s vision is to "...unite First Nations and Indigenous groups across Canada, welcoming external investors to join the company as shareholders."Nations Royalty’s highlights the following benefits agreements: the high...
2024-07-2410 minKitco MINING'They take the stairs up, but they always take the elevator down' - Gianni Kovacevic on copper's runRoaring copper prices are due to speculators, said Gianni Kovacevic, investor and author. On Tuesday Kovacevic spoke to Kitco Mining.Kovacevic is the author of My Electrician Drives a Porsche?Copper has had a great run in 2024, hitting an all-time high of $5.20 pound in May. Although he is a copper bull, Kovacevic said it is too much, too fast. He views the recent run as being driven by speculators. "If any commodity goes up too radically, people just stop buying it," said Kovacevic. "[The speculators] take the stairs on the way up...
2024-07-1324 minKitco MININGHow does the Fed undo its latest mistake? Azoria's James Fishback on Powell's moves and the electionThe Federal Reserve got ahead of itself earlier this year thinking it had inflation whipped, said James Fishback, co-founder and chief investment officer at Azoria. Fishback spoke to Kitco on Tuesday. Back in December, the market was expecting more rate cuts than it will get this year. Fishback said the Fed and Chair Jerome Powell erred when it had its "mission accomplished December Fed meeting" and the markets priced in several rate cuts in 2024. Hotter-than-expected inflation data squashed lowering interest rates. "The Fed is thinking about undoing its latest mistake," said Fishback. "Right now, Powell is...
2024-07-1217 minDigging DeepWill the gold miners embark on M&A or just do dividends? Joe Mazumdar on what to watch in Q2If the markets don't show appreciation for a quarter that should be quite favorable for the gold miners, cashflow could just go to dividends instead of growth and M&A, said Joe Mazumdar, editor of Exploration Insights. This week Mazumdar recorded an episode of Digging Deep with Kitco Correspondent Paul Harris at the Rule Symposium in Boca Raton, Florida. The two noted the upcoming second quarter. It is important that the miners show they are containing costs, said Mazumdar. Margins need to grow, and the miners need to build cashflow. With gold hitting several all-time hi...
2024-07-1221 minKitco MININGStrongest pipeline he's seen in 25 years - Why Agnico Eagle's Ammar Al-Joundi can afford to be pickyPresident and CEO Ammar Al-Joundi is very satisfied with Agnico Eagle Mines' project pipeline. On Thursday Al-Joundi spoke to Kitco Mining. Agnico Eagle Mines (NYSE: AEM) is a Canadian based senior gold mining company. It's the third-largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico. Agnico is guiding to 3.35 to 3.55 million ounces of payable gold production in 2024, with total cash costs per ounce and AISC per ounce in 2024 at $875 to $925 and $1,200 to $1,250, respectively. In June the company announced its plans for the Detour Lake Mine, loc...
2024-07-0217 minKitco MININGWhy the gold miners' price moves are unusual - Sprott's Ryan McIntyreGold miners should be up about double the metal price, but that hasn't happened, noted Ryan McIntyre, a managing partner at Sprott. On Tuesday McIntyre spoke to Kitco Mining. Sprott offers investments in precious metals and critical materials, including gold, silver, platinum and palladium. Sprott was founded in 1981 by Eric Sprott. The company has 250,000 clients and about $29.4 billion in assets under management.Despite gold hitting several all-time highs, the gold miners have still not rallied that strongly. The VanEck Gold Miners ETF is only up 10% year to date. McIntyre expects a two to on...
2024-06-3009 minKitco MINING'Deeply embedded' carbon markets should weather government changes - Kraneshare's Luke OliverElections in France and the U.S. should not disrupt carbon compliance markets, said Luke Oliver, managing director and head of climate investments at KraneShares. On Tuesday Oliver spoke to Kitco Mining. The KraneShares Global Carbon Strategy ETF (KRBN) is benchmarked to the S&P Global Carbon Credit Index, which covers cap-and-trade carbon allowances. Currently, the index covers the major European and North American cap-and-trade programs: European Union Allowances (EUA), California Carbon Allowances (CCA), the Regional Greenhouse Gas Initiative (RGGI), and United Kingdom Allowances (UKA).The carbon compliance markets are designed to incentivize po...
2024-06-2917 minDigging Deep“Ugly” financing likely in Victoria Gold’s future – Adshead-Bell“Ugly” equity financing likely on the way as Victoria Gold grapples with the aftermath of a heap leach failure at its Eagle gold mine in Yukon, Canada, which could be an existential threat to the company, Nicole Adshead-Bell, principal at Cupel Advisory said on Kitco Mining’s Digging Deep show. Adshead-Bell looked at some of the reasons why heap leach pads fail, the impact they have on single asset gold producers and broader impacts on the industry at large.Adshead-Bell also discussed Skeena Resources' success in financing its Eskay Creek gold project in British Columbia, the positive impact...
2024-06-2941 minKitco MINING'Deeply embedded' carbon markets should weather government changes - Kraneshare's Luke OliverElections in France and the U.S. should not disrupt carbon compliance markets, said Luke Oliver, managing director and head of climate investments at KraneShares. On Tuesday Oliver spoke to Kitco Mining. The KraneShares Global Carbon Strategy ETF (KRBN) is benchmarked to the S&P Global Carbon Credit Index, which covers cap-and-trade carbon allowances. Currently, the index covers the major European and North American cap-and-trade programs: European Union Allowances (EUA), California Carbon Allowances (CCA), the Regional Greenhouse Gas Initiative (RGGI), and United Kingdom Allowances (UKA).The carbon compliance markets are designed to incentivize po...
2024-06-2617 minKitco MININGWhy lab-grown diamond success could end up helping natural diamonds - Paul ZimniskyDeclining profits for lab-grown diamonds could push retailers into a natural diamond pivot, said Paul Zimnisky, an independent diamond industry analyst. Last week Zimnisky spoke to Kitco Mining. The diamond market has been in a tough spot due to declining sales. In September Petra Diamonds reported full-year revenue declined 44%. In February Lucara Diamond announced full-year revenue was down 16%, adding that the diamond market is a "volatile environment with market challenges coming from multiple areas." Storied diamond company De Beers is being sold off by parent Anglo American, which is restructuring after rebuffing a takeover by BH...
2024-06-2610 minKitco MININGHey, miners, hold some gold - Frank Holmes on lessons from Bitcoin companiesGold miners could use a little more conviction in the product they sell, said Frank Holmes, CEO and chief investment officer at @USGlobalInvestors .In early June, Holmes spoke to Kitco Mining. Gold has been hitting all-time highs in 2024, but the gold mining companies have lagged behind. The GDX, the gold mining index, is only up 12% year-to-date. Some enthusiasm for the metal the miners produce could help, said Holmes. Holmes said gold miners are holding less gold on their books, unlike cryptocurrency companies."I think gold miners—like Bitcoin miners—have to show in...
2024-06-2519 minKitco MININGOne of the largest gold discoveries in three decades - Tudor Gold's Ken Konkin advances TreatyBritish Columbia's northwest is seeing heightened interest from resource companies, said Ken Konkin, CEO and president of Tudor Gold. In early June Konkin spoke to Kitco Mining at THE Mining Investment Event of the North in Quebec City. @tudorgoldcorp.1829 (TSX:TUD) is an exploration and development company advancing its Treaty Creek gold and copper project, situated in the Golden Triangle. Treaty Creek project hosts the Goldstorm deposit, which the company says is one of the largest gold discoveries in the last three decades.The Golden Triangle is seeing renewed focus, says Konkin, due to...
2024-06-2312 minKitco MINING'That's when the multiples begin to come back' - Peter Marrone on mining equity lift-offDespite gold hitting several all-time highs in 2024, margins have been a drag on mining equities, said Peter Marrone, chairman and CEO of Allied Gold. In early June, Marrone spoke to Kitco Mining at THE Mining Investment Event of the North. Marrone noted that gold spiked at the start of the decade to around the $2,020 level and then stayed relatively flat until recently. Marrone said that during that time, margins amongst gold miners declined from about $750 to $575. The VanEck Gold Miners ETF (GDX) has come anywhere near its highs from the start of the decade.
2024-06-2216 minKitco MINING'The pendulum needs to swing back' - Osisko's Sean Roosen on investors returning to metalsInvestors will return to mining as commodity prices climb, said Sean Roosen, chairman and CEO of Osisko Development. In early June Roosen spoke to Kitco Mining at THE Mining Investment Event of the North. Osisko Development (TSX-V:ODV) is advancing the Cariboo project, an advanced-stage feasibility gold project located in central British Columbia in the historic Wells-Barkerville mining camp. The feasibility study from last year showed an underground operation expected to produce approximately 1.87 million ounces of gold over a 12-year mine life, with an after-tax NPV5% of C$502 million and 20.7% IRR at a US$1,700/oz go...
2024-06-2121 minKitco MINING'A huge amount of this mine is already built' - West Red Lake Gold's Gwen Preston on Madsen startThe Madsen project is unusual since a lot of work can be done in parallel, speeding up time to production, said Gwen Preston, vice president of investor relations at West Red Lake Gold Mines. Preston spoke to Kitco Mining in early June at THE Mining Investment Event of the North in Quebec City.West Red Lake Gold Mines (TSXV: WRLG) is advancing its Madsen gold mine in the Red Lake gold district of Ontario. The mine was previously owned by defunct PureGold, and Madsen has had over $350 million in investment. Infrastructure includes a brand-new mill t...
2024-06-2013 minKitco MINING'Royalties are phenomenal financial instruments' - EMX Royalty's David ColeOptionality is a key upside to the royalty and streaming business, said David Cole, president and CEO at EMX Royalty. On Thursday Cole spoke to Kitco Mining at THE Mining Investment Event of the North in Quebec City.EMX Royalty (TSX-V:EMX, NYSE AMERICAN:EMX) is a precious and base metals royalty company. The company's two flagship operations are Caserones in Chile operated by Lundin Mining, and Timok in Serbia operated by Zijin Mining. In 2024 the company expects to have 11,000 to 14,000 of gold equivalent ounces and between $22,000,000 to $27,500,000 in revenue. "I've said for ye...
2024-06-2008 minKitco MININGThe need for critical minerals is 'urgent', says Digbee's Jamie Strauss, so where's the funding?Funding for critical mineral projects by private companies is taking time to arrive, said Jamie Strauss, founder and CEO of Digbee.Strauss spoke to Kitco Mining on Tuesday at THE Mining Investment Event of the North in Quebec City.Digbee helps companies measure, manage and disclose their ESG ratings. They also offer mining data analysis. Western governments have implemented critical mineral strategies with the goal to reduce reliance on single-source suppliers, particularly those with geopolitical risks. In August 2022 the Biden administration passed the Inflation Reduction Act, which provided funds for domestic energy production t...
2024-06-1815 minKitco MININGDips along the road but extremely bullish - First Phosphate's John Passalacqua on critical mineralsDeveloping critical mineral resiliency is absolutely critical, said Gary Stanley, founder and managing director of Global Mineral Strategies. In early June Stanley spoke to Kitco Mining at THE Mining Investment Event of the North in Quebec City. He was joined by the CEO of @firstphosphate , John Passalacqua. Stanley is also on the advisory board of First Phosphate. The shine has come off critical minerals compared to the start of the decade. Lithium prices traded up 10x before crashing. Electric vehicles are in a sales slump. Passalacqua said that volatility is expected. "Eventually all the...
2024-06-1713 minKitco MININGProposed capital gains tax to have 'devastating impact' on resource sector - CSE's Richard CarletonInvestors are not placing much value in resource companies despite the jump in metal prices, said Richard Carleton, CEO of the Canadian Securities Exchange (CSE).Carleton spoke to Kitco Mining in early June at THE Mining Investment Event of the North in Quebec City.The @CSETV has offices in Vancouver and Toronto. The company has over 800 listings. Gold has hit several all-time highs in 2024, but resource companies are not seeing much of a lift, noted Carleton. "The index of gold exploration companies, even the later stage companies that have extended their pro...
2024-06-1611 minKitco MININGHey, miners, hold some gold - Frank Holmes on lessons from Bitcoin companiesGold miners could use a little more conviction in the product they sell, said Frank Holmes, CEO and chief investment officer at @USGlobalInvestors .In early June, Holmes spoke to Kitco Mining. Gold has been hitting all-time highs in 2024, but the gold mining companies have lagged behind. The GDX, the gold mining index, is only up 12% year-to-date. Some enthusiasm for the metal the miners produce could help, said Holmes. Holmes said gold miners are holding less gold on their books, unlike cryptocurrency companies."I think gold miners—like Bitcoin miners—have to show in...
2024-06-1519 minKitco MININGOne of the largest gold discoveries in three decades - Tudor Gold's Ken Konkin advances TreatyBritish Columbia's northwest is seeing heightened interest from resource companies, said Ken Konkin, CEO and president of Tudor Gold. In early June Konkin spoke to Kitco Mining at THE Mining Investment Event of the North in Quebec City. @tudorgoldcorp.1829 (TSX:TUD) is an exploration and development company advancing its Treaty Creek gold and copper project, situated in the Golden Triangle. Treaty Creek project hosts the Goldstorm deposit, which the company says is one of the largest gold discoveries in the last three decades.The Golden Triangle is seeing renewed focus, says Konkin, due to...
2024-06-1412 minKitco MINING'Gold companies are going to produce a lot of cash flow' - Equinox Gold's Greg SmithGreenstone Mine is very rare asset, said Greg Smith, president and CEO of Equinox Gold. On Thursday Smith spoke to Kitco Mining. Equinox Gold (TSX: EQX) is a Canadian mining company with seven operating mines. The company is forecasting 780,000 ounces of gold production in 2024 at an all-in sustaining cost between $1,565 to $1,675 per ounce. This month the company announced first pour at Greenstone Mine, what the company calls its flagship asset. When operating at capacity, the Greenstone Mine is expected to produce approximately 400,000 ounces of gold annually for the first five years, and average 360,000 oun...
2024-06-0307 minDigging DeepLooking for doubles and triples - why 20% to 30% gains aren't good enough for resource investorsEquity financings continue to roll in the resource sector, noted Kitco Correspondent Paul Harris. This week Harris was joined by John Feneck, Founder & CEO of The Feneck Commodities Report. The two discussed green and red flags of gold developers, and why few of them hit it out of the park. Key green flags are the network effect of key investors, like the Lundin Group and Frank Guistra, and management bench strength like US Gold with George Bee, although with the caveat of not knowing what their exit strategies are.Equity finance continues to fl...
2024-06-0129 minDigging Deep$1.2B in financings and four bought deals show financing window openA spate of financings show mining is gaining favor, noted David Erfle, founder of JuniorMiningJunky.com.This week Erfle recorded Digging Deep with Kitco correspondent Paul Harris. The two discussed $1.2B of financings announced on one day, including raises by Cameco, Hudbay Minerals, IAMGOLD, Patriot Battery Metals, Solaris Resources and Faraday Copper, including four bought deals. In copper news, Goldman Sachs trader Pierre Andurand out-Friedland’s perma-copper bull Robert Friedland by stating the copper price could reach $40,000/t, or $18/lb in old money, almost four times the record $11,000/t the metal recently hit. Frie...
2024-05-2525 minKitco MININGBuild mines that can work at whatever gold price is thrown at you - Minera Alamos Doug RamshawMinera Alamos will see a big step up in production over the next handful of years, said Doug Ramshaw, the company's director and president. On Tuesday Ramshaw spoke to Kitco Mining. Minera Alamos (TSX.V: MAI) is a Mexican-focused gold miner. The company's expertise is in heap leach operations. Its Santana operation will produce 2,000 ounces this year. The company's two other projects, Cerro De Oro and La Fortuna, are scheduled to start production over the next few years. The company expects to be producing 140,000 ounces annually by 2027. Ramshaw said Minera Alamos is built to...
2024-05-2313 minKitco MININGWhy miners are driven to M&A - David Garofalo on the resource sector's 'shrinking pie'As more money comes into mining, this will push dollars down to the juniors, said David Garofalo, chair and CEO of GoldRoyalty.Garofalo has a multi-decade career leading large mining companies. He was CEO of Goldcorp prior to its sale to Newmont for about $10 billion in 2019. He was also CEO of Hudbay Minerals. Garofalo is now at GoldRoyalty (NYSE:GROY), a streaming and royalty company. Some of its key assets are the Odyssey Mine, the Cote gold project and the Borborema project. The company forecasts revenue of about $15 million mid-decade, growing to three times that level by 2029.
2024-05-2316 minKitco MINING'I don't even think this is the first inning' - gold prices to run even higher says Simon MarcotteGold has hit several all-time highs this year, but the metal has further to go, said Simon Marcotte, president and CEO of Northern Superior Resources. Last week Marcotte spoke to Kitco Mining. Marcotte attributes the recent rise in gold prices to central bank buying and increased demand from Asia, particularly due to the weakening yen. He predicts that as real rates decline, gold will gain further momentum, leading to increased equity valuations in the sector."I don't even think this is the first inning," said Marcotte. "We're going to see gold do well. Go...
2024-05-1920 minDigging DeepThe miners who are winning while gold is spiking - Joe Mazumdar warns you need to watch marginsCopper is attracting investor interest from the Middle East, noted Joe Mazumdar, editor of Exploration Insights. On Thursday Mazumdar recorded Digging Deep with Kitco correspondent Paul Harris. With copper prices hitting $5 pound recently, interest in the metal is spiking. However sizeable funding is coming a non-traditional player in the resource sector. Mazumdar noted Saudi Arabia has been investing heavily, noting the Kingdom's state mining company, Manara Minerals, is nearing a $1 billion deal for stake in Barrick’s Reko Diq. Mazumdar and Harris also looked at Teck earnings. The company divested its metallurgical coal busin...
2024-05-1831 minKitco MINING'It's hard not to get excited when you see a blockbuster deal like that' - Adam Lundin on mining M&ABig mining deals are going to bring needed attention to the mining sector and build more enthusiasm, noted Adam Lundin, chair of Lundin Group. This week Adam spoke to Kitco Mining. Earlier this month BHP Group announced a surprise takeover bid for Anglo American valued at over $31 billion. "When you see blockbuster news like that, it's hard not to get excited," said Lundin. "I think M&A can be good for the sector, and I think it [brings] a lot of attention to the space and gets more eyeballs on it. Let's stay tun...
2024-05-1826 minKitco MININGWhy it's so hard to get backing for copper projects - Inflection Resources' Alastair WaddellCopper projects pose substantial hurdles for development, said Alistair Waddell, president and CEO of Inflection Resources. In early May Waddell spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany. Inflection Resources (CSE:AUCU) is a copper and gold company focused on eastern Australia. It is exploring Macquarie Arc in New South Wales. The company also has an Anglogold Ashanti partnership. Waddell said spurring copper project development is challenging. There's a lack of funding for copper exploration because it can be expensive, time-consuming and requires large land positions in sometimes challenging juri...
2024-05-1719 minKitco MININGToo risky, too tradition-bound - Equivest's Joanna Ponicka on why mining can't attract new investorsMining has to do more work to attract investors, said Joanna Ponicka, vice president of exploration at Equivest. In early May Ponicka spoke to Kitco Mining at Deutsche Goldmesse at Frankfurt, Germany. Ponicka said the mining sector has a perception problem and that is leading to less funding. A lack of investment in grassroots exploration is leading to a shortage of new discoveries. "As a prospect generator, we definitely see less money in the industry to do early-stage exploration," said Ponicka. "Early-stage exploration is where most of our discoveries come from."Pon...
2024-05-1623 minKitco MININGGold prices could 'easily reach $2,500 this year' - Jeff Clark on precious metal breakoutWhile central bank buying has been supportive of gold prices, interest rate cuts later this year could send the metal higher, said Jeff Clark, editor of the TheGoldAdvisor.com. In early May Clark spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany. Gold has hit several all-time highs this attributed to strong central bank buying. "This could be a banner year for central bank gold buying," said Clark. "In my humble opinion, that is not why the gold price is higher. I think central bank gold buying actually supports the price though. It...
2024-05-1613 minKitco MININGTriple-digit gains for the gold miners? AuAg Funds' Eric Strand makes the caseWhile the Federal Reserve is delaying rate cuts due to inflation, the economy is still getting lots of support, noted Eric Strand, founder and portfolio manager of AuAg Funds. In early May Strand spoke to Kitco Mining at Deutsche Goldmesse. Strand believes central bank buying, signs of continued monetary easing, and the massive deficits incurred by the U.S. are primary drivers behind gold's surge. "Even if we don't have seen the rates coming down, the Fed has been doing some kind of backdoor quantitative easing," said Strand, who noted that the monetary bas...
2024-05-1417 minKitco MININGBig money has already moved in and bought gold - Brien Lundin says investors aren't waitingDespite high yields and a strong U.S. dollar, gold is moving higher because of the compelling macro picture, said Brien Lundin, editor of the Gold Newsletter. In early May Lundin spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany. He called the rally surprising and believes it is driven by a combination of factors, including central bank buying, strong demand from China, increased buying from hedge funds and growing unease about global debt levels. "The buying has been strong despite rising yields and strong dollar," said Lundin. "You see big money mov...
2024-05-1427 minKitco MININGNo gold sticker shock - Citi's Aakash Doshi on high precious metal prices and 'inelastic buyers'Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi. On Tuesday, Doshi spoke to Kitco Mining. Jewelry fabrication typically represents about 50% of the gold market, with the rest of the demand coming from investing, central banks and industrial uses. “Historically, the demand side of the ledger has been driven and led by jewelry demand. Consumption could be as high as 50% or 55% for gold jewelry,” said Doshi. “[That] started to shift over the last 10 to 15 years. It really started with the Great Financial...
2024-05-1317 minKitco MINING'Why take the risk if you were better off buying the metal?' - Lobo Tiggre on soft mining equitiesMining equity investors need to be patient, said Lobo Tiggre, editor of the IndependentSpeculator.com. In early May Tiggre spoke to Kitco correspondent Paul Harris at Deutsche Goldmesse held in Frankfurt, Germany. Tiggre noted the disconnect between high metal prices and mining equities that are not performing as well as they should. Gold has hit several all-time highs in 2024, but the gold miners, measured by the GDX, are only up 12% this year and well-off highs hit early this decade. Tiggre notes that the key appeal of mining stocks is their leverage to r...
2024-05-1225 minKitco MINING'Finally, they'll start producing real cash' - George Salamis on the mining sector turnaroundA general mining recovery begins with producers, said George Salamis executive chair of Integra Resources ( @integraresourcescorp.1721 ) On Tuesday Salamis spoke to Kitco Mining. Integra Resources is focused on the Great Basin of the Western USA. The company has two flagship oxide heap leach projects: the past producing DeLamar project located in southwestern Idaho and the Nevada North project in Nevada.The Nevada projects came to Integra after a merger with Millennial in 2023. In 2024 Integra will be working on a feasibility study for DeLamar, as well as drafting its permits. A recent flurr...
2024-05-1216 minKitco MINING'No euphoria' - Kai Hoffmann says generalist investor is still missing from resource stocksThe mining market is still subdued despite "violent moves" higher by gold, said Kai Hoffmann, the CEO of Soar Financial. On Monday Hoffmann spoke to Kitco Mining. Hoffmann is hosting Deutsche Goldmesse in Frankfurt, a two-day event kicking off May 3 that will showcase 30 resource companies. Some of the keynote speakers will be Brien Lundin, Lobo Tiggre and Jeff Clarke. Hoffmann tracks resource financings through Oreninc. Hoffmann is surprised that mining equities are still subdued after copper has run up 20%, and gold has hit several all-time highs. "It is still not as rosy as one...
2024-05-1112 minKitco MININGSeeds of destruction - Can mining side step another bubble, wonders Newcore Gold’s Luke Alexander?Newcore Gold jumped 75% this month after releasing an updated preliminary economic assessment. On Tuesday President and CEO Luke Alexander spoke to Kitco Mining. The mining sector has been enjoying good tailwinds: copper has run up 20%, and gold has hit several all-time highs this year. Still financings remain moderate, according Oreninc. Selective companies are being financed. Alexander hopes the market doesn't run away. "I actually hope it remains a selective financing market," said Alexander. "It's really just the qualityprojects that get financed, the ones that stand out from the hundreds. [It] is a c...
2024-05-1014 minKitco MININGHow quickly can management build a mine? - Alex Black on long investment horizonsManagement, deposit and social license are all key when considering a resource investment, said Alex Black, executive chairman of Rio2, but time to production plays an important role, too. Black spoke to Kitco Mining on Monday. Rio2 (TSXV: RIO) is advancing its Fenix gold project in Chile. In April, the company announced a $23 million financing. The company also advanced some of its environmental permits. The company says that its Fenix is the largest undeveloped gold heap leach project in the Americas. The company anticipates production by 2025. When assessing a resource company, Black said tha...
2024-05-1024 minDigging DeepSometimes its a bolt on, sometimes it doesn't make sense - Luc ten Have on 2024's mining dealsSome M&A in the mining sector made sense while some other deals are puzzling, observed Luc ten Have, founder of GoldDiscovery.com. This week Ten Have spoke to Kitco correspondent Paul Harris to record an episode of Digging Deep at Deutsche Goldmesse in Frankfurt, Germany. Some notable deals in 2024 were Osino Resources getting taken out by Yintai Resources for $272 million; Alamos Gold buying Argonaut Gold for $325 million; and Zijin Mining paying $130 million for a 15% stake in Solaris Resources. The headline deal is BHP Group attempting to buy Anglo American with a price tag estimated at...
2024-05-0931 minDigging DeepM&A takes off, groupthink coming as the race for assets is on - Adhsead-BellBHP's bid for Anglo American indicates a heating M&A cycle: the race for assets is on.On Friday Kitco correspondent recorded Digging Deep with guest Nicole Adshead-Bell from Cupel Advisory. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange i...
2024-04-2926 minDigging DeepEcclestone: No copper shortage, but companies want giant depositsThe copper industry has got itself into a bind in that it's obsessed with big to giant mines, when smaller copper deposits should be tapped as well, is Christopher Ecclestone, Principal and mining strategist at Hallgarten + Company, told Kitco Mining’s Digging Deep.Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes on...
2024-04-2928 minKitco MINING'There's' just too much debt in the world' - Peter Grosskopf explains why gold will head higherGold should head higher due to debts and deficits, said Peter Grosskopf, chairman of SCP Resource Finance. On Wednesday Grosskopf was interviewed by Kitco Mining. Gold has been hitting fresh all-time highs late into 2023 and through 2024, but gold miners have only just rallied in the last month. Gold equities, measured by the GDX, is up over 16% in the past month."The market finally woken up to these high precious metal prices," said Grosskopf. "[The rally is] definitely led by the big caps. The small caps just started to react in the last day or...
2024-04-2909 minKitco MININGA decade long exit from the gold sector - Quartermain explains why mining equities are mutedInvestors still haven't made the link between high gold prices and mining equities, said Robert Quartermain, co-chairman of Dakota Gold. On Monday Quartermain spoke to Kitco Mining. Quartermain has a storied career in mining. Most recently he was Executive Chairman of Pretium Resources Inc., which he founded in October 2010. Pretium's Brucejack mine became Canada’s fourth-largest gold mine with annual production of 350,000 ounces. Quartermain was inducted into the Canadian Mining Hall of Fame in August 2022. Newcrest acquired Pretium in 2021 for $2.8 billion. Gold has hit several all-time highs, but the gold miners are not seein...
2024-04-2922 minDigging Deep'We're not making any more money' - why gold miners are stuck despite all-time metal highsGold prices are at all-time highs, but rising costs at the miners have tempered an equity upside, noted Neil Adshead, consultant analyst at Commodity Discovery Fund.On Friday Kitco Mining Correspondent Paul Harris recorded Digging Deep. Harris noted that despite the gold prices hitting all-time highs in 2024, the gold miners have not rallied. Year-to-date the gold miners index, the VanEck Gold Miners ETF, is down 3% to $29.60 a share. Adshead noted that the big, diversified miners have much larger market capitalizations. The gold miners are not keeping pace, because they just don't make the sa...
2024-04-0627 minDigging DeepGold continues to break barriers - David ErfleThe gold price continues to set new all-time highs, with gold equities starting to get in on the action as M&A activity increases, Junior Miner Junky, David Erfle, told Kitco Mining's Digging Deep.Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any...
2024-04-0619 minDigging DeepHigher gold prices should trigger more M&ACost inflation is hitting the gold space but with gold pushing higher, deep discounts on gold equities may present good buying opportunities, says Joe Mazumdar, editor of Exploration Insights newsletter.Mazumdar spoke to Paul Harris, host of Kitco Mining’s Digging Deep, on April 4.Harris gave the example of IAMGOLD (TSX:IMG) recently pouring first gold at its Côté mine in Ontario, Canada. The capex (capital expenditures) on the project is a $2.965 billion. Gold Fields (NYSE:GFI) finally achieved production at its Salares Norte project in Chile following years of development plagued by skyrocketing cost...
2024-04-0622 minKitco MININGBig M&A deals likely to continue in mining sector - PowerOne Capital Markets' David D'OnofrioMergers and acquisitions should continue through 2024, said David D'Onofrio, CFO of PowerOne Capital Markets.D'Onofrio spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada. PowerOne Capital Markets is a diversified merchant bank, and notable mining investments include Collective Mining, enCore Energy and Neo Lithium. D'Onofrio is also CEO of White Gold, a Canadian gold exploration company operating in the prolific White Gold District located south of Dawson City in northwest Yukon, Canada. Backers include Agnico Eagle, Kinross and Eric Sprott. D'Onofrio admitted that critical minerals "totally capitulated" in 2023, but the se...
2024-03-2315 minKitco MINING‘They’re nervous about the US dollar’ - interest in gold needs to spread beyond central banksThe disconnect between gold prices and gold equities are explained by central bank precious metal purchases, said Wheaton Precious Metals CEO Randy Smallwood. On Friday, Smallwood spoke to Kitco Mining. Wheaton Precious Metals is a precious metals streaming company headquartered in Vancouver, B.C. Last week the company released its 4Q and year-end. Gold equivalent ounces produced was 619,608 ounces, nearly the same as the year prior. Gold production was up, but silver fell. Silver was down due to a labour strike at Peñasquito. The company set 2024 guidance between 550,000 to 620,000 gold equivalent ounces. The company is...
2024-03-2323 minKitco MININGWhy copper is like uranium: both face deficits and need significant capex — Sprott's John CiampagliaUranium is “a very unique commodity” that even at $100 a pound is still seeing a supply deficit, says John Ciampaglia, CEO of Sprott Asset Management. In February Ciampaglia spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. “We don't see a real meaningful supply response coming for the next few years and in the absence of that we think uranium prices are going to be higher for longer,” he said.Ciampaglia said uranium is being recognized for its importance in achieving three goals: decarbonization, energy security, and as a c...
2024-03-2317 minKitco MININGCompany with lithium in NWT can see pegmatites from space — Li-FT Power CEO Francis MacDonaldLithium futures are trading higher, and Asian battery manufacturers are saying demand will surprise to the upside, says Francis MacDonald, CEO and director of Li-FT Power (TSXV:LIFT).MacDonald spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada.“Hopefully that's an indication that we're coming out of the bottom,” he said, noting lithium carbonate prices have been stuck at around $13,000 a tonne.Li-FT Power is advancing the Yellowknife lithium project in Canada’s Northwest Territories. The project contains 13 lithium pegmatite systems that are exposed at surface and visible from satellite imager...
2024-03-2310 minKitco MINING'We found some really compelling targets' — Scott Berdahl's Snowline Gold keeps growingFinding gold mineralization at scale and continuity was among Snowline Gold’s (TSXV:SGD) top 2023 accomplishments, says CEO and Director Scott Berdahl.In February Berdahl spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.Snowline Gold is one of the most exciting exploration plays to emerge out of the Yukon. A 2023 hole returned 2.5 grams per tonne gold over 553 meters at the Valley discovery, making it one of the best drill holes ever drilled in the Yukon Territory’s 125-year history.Snowline Gold’s Rogue project also stands...
2024-03-2213 minKitco MININGWhy one of the world's largest miners invested $130 million in Solaris ResourcesSolaris Resources has been transformed thanks to a $130 million investment by one of the world's largest miners, Zijin Mining Group. Solaris’ president and CEO Daniel Earle spoke to Kitco Mining in February at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida.Solaris Resources (TSX: SLS) is advancing its flagship Warintza project in Ecuador. The company calls Warintza a global scale resource with 579 Mt at 0.59% CuEq (Ind) and 887 Mt at 0.47% CuEq (Inf) with growth potential. An updated mineral resource is expected in late Q2 of 2024. Solaris is managed by the Augu...
2024-03-2213 minKitco MININGInnovative tech unlocks copper from mine waste - Jetti Resources gets backing from BMW, TeckSeventy percent of the world’s remaining copper resources are trapped in low-grade primary sulfide deposits. Being able to release that copper at a low cost, and with minimal capital expenditures is a big deal for the mining industry, says Mike Outwin, co-founder and CEO of privately held Jetti Resources.In February Outwin spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.Jetti has developed a technology that addresses the challenge of how to extract copper from “stranded” primary sulfide deposits. The natural leaching process works fine for oxide...
2024-03-2214 minKitco MINING'You'll see a material increase in gold and silver' - Triple Flag Precious Metals key asset ramps upYou need dedicated teams with staying power to drive meaningful supply in beaten down markets, noted Shaun Usmar, founder and CEO of Triple Flag Precious Metals.In early March Usmar spoke to Kitco Mining at PDAC 2024 in Toronto, Canada. Usmar was asked about the underappreciated copper markets. He said that the incentive price needs to be higher for serious investment to flow into the space, but management teams that are willing to work through downturns are key. "[People] continue to underestimate the need for staying power and the time it takes from successful ex...
2024-03-2218 minKitco MININGAlamos Gold targets about 800,000 ounces of gold productionAlamos Gold really hit its stride this decade, said John McCluskey, president and CEO. In early March McCluskey spoke to Kitco Mining at PDAC 2024 in Toronto, Canada. Alamos (NYSE:AGI) is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America: the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos Mine in Sonora State, Mexico. The company's growth pipeline includes phase 3+ expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 1,900 people.In 2024 the company is forecasting 505,000 ounces of...
2024-03-2224 minKitco MININGMore than likely it will be in Canada - Barrick Gold's Mark Bristow hints at next moveBarrick Gold (TSX:ABX) is focused on replacing the ounces it mines through exploration, says President & CEO Mark Bristow.In February Bristow spoke to Kitco Mining at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida.“We've really invested in the quality of our explorers and that's what adds value,” he said, noting that Barrick is spending 60 percent of its exploration budget this year on greenfield (early-stage) projects.Bristow said Barrick’s most effective growth strategy is to acquire large mines with long lives, rather than trying to manage several small...
2024-03-2220 minDigging DeepCopper's looming structural shortage comes into focus, says Cupel's Nicole Adshead-BellCopper prices are at the beginning of a big run, said Cupel Advisory Director Nicole Adshead-Bell. On Thursday Adshead-Bell recorded Digging Deep with Kitco Correspondent Paul Harris. Copper had a good week, hitting a seven-month high on news that China plans to mothball loss-making smelters. Reduced supply strengthens the long-term bull case for copper, noted Adshead-Bell. "The price is moving now [because] market participants are finally starting to realize that there is a very material, looming structural-shortage in primary copper supply," said Adshead-Bell. She added that the copper breakout has been a lo...
2024-03-1829 minKitco MININGAgnico Eagle CEO Al-Joundi’s advice to his peers: Focus more on making money, returning capitalBeing regionally focused is what differentiates Agnico Eagle Mines (TSX:AEM) from some of its more globally minded peers, says President & CEO Ammar Al-Joundi.In February Al-Joundi spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. He is the recipient of Kitco Mining’s 2023 CEO of the Year in the production category. Agnico Eagle ended 2023 with record production, cash flow and reserves. Asked why the company is delivering when others are not, Al-Joundi said: “I think one of the reasons Agnico has been consistent in deli...
2024-03-1516 minKitco MININGIs the green premium a mirage? Nickel miners see scant rewards for less-polluting minesWhile the electrification push is resulting in a ramp up of critical mineral production, Skarn Associates CEO Mark Fellows warned that to meet the rush, carbon intensity is rising at some mines. Skarn is a consultancy that helps miners quantify energy intensity, GHG emissions and water use across supply chains. Fellows spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada. With electric vehicle demand jumping this decade due to shifting consumer preferences and government incentives, there's been a ‘gold rush’ in the critical mineral space. "There are some really substantial increas...
2024-03-1523 minKitco MININGLithium's missing link - Patriot Battery Metals new CEO Ken Brinsden sets focus on downstreamThe falloff in demand for electric vehicles is overblown, says Ken Brinsden, president and CEO of Patriot Battery Metals (TSX:PMET).In February Brinsden, along with COO and Executive Director Blair Way, spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.Brinsden, Patriot’s former board chair, is now CEO, president and managing director. Former CEO Way moved into the chief operating officer position while retaining his seat on the board.“I'm really motivated by the development story,” Brinsden said of the flagship Corvette project in Quebec...
2024-03-1519 minKitco MININGUp to 600,000 new ounces by 2025 - B2Gold's Clive Johnson forecasts a big jump in production2024 will be a “building year” says B2Gold (TSX:BTO) President & CEO Clive Johnson, pointing to ongoing construction of the Goose mine in Nunavut, and projects in Mali including building a tailings facility and expanding a solar plant.In February Johnson spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.The company had an excellent 2023, production-wise, outputting 994,000 ounces from its operations in Mali, the Philippines and Namibia, and meeting guidance for the eighth straight year. 2024 production may not be as good, but Johnson said 2025 should see a record-setting 1.2 to 1...
2024-03-1518 minKitco MININGStartling tech unlocks copper from mine waste - Jetti Resources gets backing from BMW, TeckSeventy percent of the world’s remaining copper resources are trapped in low-grade primary sulfide deposits. Being able to release that copper at a low cost, and with minimal capital expenditures is a big deal for the mining industry, says Mike Outwin, co-founder and CEO of privately held Jetti Resources.In February Outwin spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.Jetti has developed a technology that addresses the challenge of how to extract copper from “stranded” primary sulfide deposits. The natural leaching process works fine for oxide...
2024-03-1514 minKitco MINING‘The growth is in West Africa' - Fortuna Silver Mines CEO Jorge GanozaThe Séguéla mine in Côte d’Ivoire and the recently acquired Diamba Sud gold project in Senegal are “the two high-value opportunities,” says Jorge Ganoza, president & CEO of Fortuna Silver Mines (TSX:FVI).In February Ganoza spoke to Kitco Mining at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida.The Canadian-listed precious metals company has mines in Côte d’Ivoire, Burkina Faso, Mexico, Argentina and Peru. In 2021 Fortuna expanded from Latin America into West Africa. Production is split about 50-50 between the two regions, but Ganoza said the growth i...
2024-03-1515 minKitco MINING'The only way to truly achieve a low-cost mine is to build a new one' - Artemis Gold CEO Steven DeanA recent expansion study puts Blackwater in the top 10 gold projects by size, says Steven Dean, chairman & CEO of Artemis Gold (TSXV:ARTG).In February Dean spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Artemis acquired Blackwater from New Gold (TSX:NGD) in 2020 for CAD$190 million. The gold-silver project, located in central British Columbia 60 km from Prince George, is in the feasibility stage. It has 8 million ounces in gold reserves and 60Moz of silver reserves. The expansion study announced on Feb. 21 has Blackwater producing 500,000 gold-equivalent ou...
2024-03-1214 minDigging Deep'You could roll bowling balls down the aisle' - all-time high gold prices are not drawing investorsThe gold price is hitting all-time highs, but there is still scant interest in junior miners, noted JuniorMinerJunky's David Erfle. On Wednesday Erfle recorded the inaugural show Digging Deep, hosted by Kitco correspondent Paul Harris at PDAC in Toronto. PDAC is mining largest annual get together. Over 23,000 delegates attended last year's show. Erfle noted the lack of love junior miners are attracting despite precious metals jumping higher. "You could pretty much roll bowling balls down the aisle," said Erfle noting the lack of retail investors dropping by the company booths. "There wasn...
2024-03-1118 minDigging Deep'The only way to truly achieve a low-cost mine is to build a new one' - Artemis Gold CEO Steven DeanA recent expansion study puts Blackwater in the top 10 gold projects by size, says Steven Dean, chairman & CEO of Artemis Gold (TSXV:ARTG).In February Dean spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Artemis acquired Blackwater from New Gold (TSX:NGD) in 2020 for CAD$190 million. The gold-silver project, located in central British Columbia 60 km from Prince George, is in the feasibility stage. It has 8 million ounces in gold reserves and 60Moz of silver reserves. The expansion study announced on Feb. 21 has Blackwater producing 500,000 gold-equivalent ou...
2024-03-1114 min
Kitco NEWS Interviewshttps://www.kitco.com/news/2021-11-30/images/Kitco-Podcast_464x292.jpgThe uptrend for gold is still intact, said Dr. Nicole Adshead-Bell, director at Cupel Advisory Group.
Earlier this month Adshead-Bell spoke to Kitco at the Deutsche Goldmesse show in Frankfurt, Germany.
"We're no longer at the very beginnings of a bull market," said Adshead-Bell, adding that the easy money has already been made.
"Bull markets have varying degrees of gestation and some of them can be exceptionally long in duration," she said noting 2020 was a "euphoric" year.
"Whenever you have that kind of parabolic equity performance, there will always be a correction. That's a very natural thing, and that's a...
2021-11-3011 minKitco NEWS Interviews'Silver has always been my first love,' says billionaire Thomas Kaplan in Kitco ExclusiveFor the first time in 20 years, Thomas Kaplan, CEO of Electrum Group, has launched a new public silver producer. In an exclusive interview with Kitco News, Kaplan talks about his silver and gold projects and his outlook for the precious metals.
In November, The Electrum Group went public with Gatos Silver (NYSE: GATO, TSX: GATO), which raised $170 million in its IPO. It was also one of the first precious metals companies listed directly on the New York Stock Exchange.
Looking at commodity prices, Kaplan said that gold and silver are just at the start of a significant bull market. "Once...
2020-12-1021 min