Shows
Kitco NEWS RoundtableMetals get a lift from the FedBoth copper and gold were higher this week with signs that the Fed may be easing as soon as June. On Saturday mining audiences manager Michael McCrae recorded Kitco Roundtable with correspondent Paul Harris.
2024-02-2506 minKitco NEWS RoundtableGold is buffeted by CPI, and a massive landslide in Turkey traps minersGold recovered after tumbling mid week due to a hotter than expected CPI number, noted mining audiences manager Michael McCrae. On Saturday McCrae and Kitco correspondent Paul Harris recorded Kitco Roundtable. On Tuesday the Labor Statistics said that its Consumer Price Index rose 0.3% in January, higher than the Consensus forecasts of 0.2% increase. Markets tumbled and gold dropped below the 2000 level.The week started with a tragic mine accident in Turkey. SSR Mining suspended production at its Copler mine after a landslide resulted in at least nine miners missing.
2024-02-1706 minKitco NEWS RoundtableWhy 2024 may suit silver, and production jumps at New GoldNew Gold announced a big production update this week, noted mining audiences manager Michael McCrae. On Saturday, McCrae recorded Kitco Roundtable with correspondent Paul Harris.New Gold reported that consolidated gold production is expected to increase by approximately 35% from 2023 to 410,000 to 460,000 ounces in 2026 driven by increasing production profiles at both Rainy River and New Afton as growth projects are completed in the near-term. The company still sold off in a down market for gold miners, off 6% for the week to $1.58 a share. New Gold is a Canadian-focused intermediate mining Company with a portfolio...
2024-02-1005 minKitco NEWS RoundtableStrong jobs data hurts metals and a First Nations group in B.C. forms a royalty companyMetals traded lower end of week when jobs data came in stronger than expected, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. On Friday jobs data showed the U.S. economy created a whopping 353,000 jobs last month, significantly beating expectations. Markets see only a 20% chance of a rate cut in March, and they have pared back expectations for a rate cut in May.Copper spiked mid-week, nearing $4 pound to settle back where it started, due to the strong job's number. Gold finished the week...
2024-02-0305 minKitco NEWS RoundtableCopper comes into focusThe copper market is setting up nicely and prices for the metal should head higher, noted Kitco correspondent Paul Harris. On Monday Harris, mining audiences manager Michael McCrae and Soar Financial CEO Kai Hoffmann recorded Kitco Roundtable at the Vancouver Resource Investment Conference. Harris noted that copper supply is starting to dwindle, while energy transition is increasing demand. The three panelists also noted the downbeat mood at the first major mining show of 2024, as resource companies hope to turn the page on a mostly forgettable 2023.
2024-01-2714 minKitco NEWS RoundtableCopper sector heats up and the Fed narrows gold's trading rangeA Chinese miner made a large investment into a Latin American copper developer, noted Kitco correspondent Paul Harris. On Saturday Harris and mining audiences manager Michael McCrae recorded Kitco Roundtable. Earlier this week Solaris Resources announced a $130 million strategic investment by Zijin Mining Group. Solaris is advancing its Warintza project, a high-grade open pit copper resource in Ecuador. McCrae noted that both gold and copper were under pressure due to a hawkish turn by the Federal Reserve.
2024-01-2105 minKitco NEWS RoundtableThe uranium party continuesUranium leaped to a new high, noted mining audiences manager Michael McCrae. On Saturday McCrae and Kitco correspondent Paul Harris recorded Kitco Roundtable. Uranium traded as high as $100 this week according to pricing data provider UxC. The metal is has tripled in the past two years. Uranium was propelled higher when mining giant Kazatomprom announced a production shortfall of the metal due to lack of sulphuric acid needed for production.
2024-01-1305 minKitco NEWS RoundtableGold can't hold 2,000, Ero Copper and Vale make a dealGold is deferring a break higher, noted mining audiences manager Michael McCrae.On Saturday McCrae recorded Kitco Roundtable with correspondent Paul Harris.Key economic news this week was the jobs report. Non-farm payrolls number come in at up 150,000 versus market expectations of 170,000. The report fell into the camp of the U.S. monetary policy doves, who want the Federal Reserve to stop raising interest rates.Gold was helped but not much. Spot gold finished the week at $1,998 ounce.Gold’s inability to convincingly break above $2,000 an ounce is creating some cautious se...
2023-11-0406 minKitco NEWS RoundtableThe Fed will likely pause and Atlantic Lithium receives its permitsA Fed rate-hike pause at next week's FOMC meeting is likely, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. Also noted during Roundtable was Piedmont Lithium and partner Atlantic Lithium obtaining permits for the Ewoyaa project in Ghana.
2023-10-2705 minKitco NEWS RoundtableWhy precious metal prices are up and QC Copper & Gold focuses on critical minerals in QuebecWar worries and a possible end to Fed tightening are some of the reasons gold is rebounding, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and QC Copper & Gold CEO Stephen Stewart. The gold price has been on an unstoppable move higher when war fears entered the marketplace last week, that according to Kitco contributor David Erfle. Despite the U.S. 10-year bond yield rising to 5%, the safe-haven metal has risen from $1825 just two weeks ago to move closer to the key $2000 level notching up an impressive...
2023-10-2023 minKitco NEWS RoundtableJobs data jolts commodities and battery metal sector stays busyMany commodities were routed in October, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. Gold prices dropped to a fresh seven months below after data showed that the us economy created 336,000 jobs last month, significantly beating the market's expectations. However, according to some analysts, disappointing wage growth and an unchanged unemployment rate gives the federal reserve room to leave rates on change next month. And with that gold recovered slightly and finished the week in the 1840 range, copper traded lower this week to hitting...
2023-10-0705 minKitco NEWS Roundtable'The joy has gone out of it' - unending bear market is grinding down gold minersThere is a big disconnect between gold prices and gold miners, noted panelists on Kitco Roundtable. On Friday mining audiences manager Michael McCrae, Kitco Correspondent Paul Harris and David Erfle with the juniorminerjunky.com recorded Roundtable at the Precious Metal Summit in Beaver Creek, Colorado. During the first quarter of the year, gold futures traded above $2,000. Since then, the metal has mostly traded within a healthy band of $1,900 to $2,000. Yet, the gold mining index, the GDX, is down 3% year-to-date, while the tech-heavy NASDAQ composite is up nearly one-third. Gold mining shares..."look like...
2023-09-1715 minKitco NEWS RoundtableOne commodity is surging, but it's not a metalWhile gold and copper slipped 1% and 3.5% respectively this week, oil is gaining, noted mining audiences manager Michael McCrae. On Saturday McCrae recorded Kitco Roundtable with correspondent Paul Harris. Copper prices dropped 3.5% this week to finish at the low $3.70 level. Gold trended downward this week, with prices falling around 1% after the Labor Day holiday finishing the week at $1,919 an ounce.But oil is surging. On Tuesday Brent crude saw $90 a barrel for the first time since November, a 10-month high. Oil gained on news that Russia and Saudi Arabia committed to reducing production over...
2023-09-1005 minKitco NEWS RoundtableBase metals are up, and battery tech sees significant investor interestBase metals are trading higher due to China's efforts to shore up its struggling property sector, noted mining audiences manager Michael McCrae.On Friday, McCrae recorded Kitco Roundtable with correspondent Paul Harris and Srini Godavarthy, the CEO of Li-Metal.China is issuing directives to prop up its property sector, such as easing borrowing rules to aid homebuyers. Other measures included lowering the existing mortgage rate for first-home buyers and the down payment ratio in some cities, noted Reuters.Worries about China's economy has been a drag on metals through most of the summer...
2023-09-0118 minKitco NEWS RoundtableThe Fed stays hawkish and it's decision time in BeijingAll eyes were on the Jackson Hole meeting in Wyoming, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and Stillwater Critical Minerals' CEO Michael Rowley. Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a Canadian mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the Stillwater mining district of Montana, U.S. 2023 drilling is currently underway. In the spring the company received an investment from mining giant Glencore. On Friday Fed Chair Jerome Powell gave a much-anticipated speech at the...
2023-08-2621 minKitco NEWS RoundtableMetals trade down on China worries and Ford makes big battery investment in CanadaMetals are sliding due to recession worries, higher for longer rates and China concerns, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. China is the story that is dominating commodity markets. A handful of large Chinese property development companies are under stress. Today Evergrande announced it filed for bankruptcy protection in the US. Earlier this week China's largest private real estate developer Country Garden missed a bond payment. With China worries, investors fled to the U.S. and the dolla...
2023-08-1806 minKitco NEWS RoundtableGold's tepid response to job numbers and Albemarle's outlook is rosyGold did not get much of bounce from the favorable job numbers, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. U.S. nonfarm payrolls rose by 187,000 last month, according to the Bureau of Labor Statistics, which released the numbers on Friday. The monthly figure was below the market consensus estimates of 205,000.The gold market didn't react much. December gold futures last traded at $1,970 an ounce, roughly unchanged on the day.Companies are releasing their second quarter financial results. In its outlook, uranium gi...
2023-08-0516 minKitco NEWS RoundtableGold market seeks clarity and lower commodity prices hit base metal minersThe gold market is seeking direction, noted Kitco's mining audience manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. McCrae noted that the big news this week was the Federal Reserve pushing interest rates to a 22-year high on Wednesday. The Fed resumed its hikes from last month's pause. The big data point this week was core Personal Consumption Expenditures price index increased 0.2% last month, compared to May's increase of 0.3%. The report revealed that in June inflationary pressures continues to diminish while consumer spending continues to expand. The news sent equ...
2023-07-2908 minKitco NEWS RoundtableRobert Friedland on copper and a lousy end to the quarterRobert Friedland warned about a coming copper crunch due to increasing demand and dropping supply, noted Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae. The bleak picture for gold stocks was also covered. Gold is seeing its worst month since February as markets shift expectations, pricing in a nearly 100% chance of a rate hike in July. After kicking off the month above $1,980 an ounce, gold finished June at the $1,910 level. McCrae talked about some of his favorite #MinTwit follows on Twitter: @michaelbhorner, @jrminingguy and...
2023-06-3007 minKitco NEWS RoundtableForest fires in Quebec and can miners be taught to be better communicators?Unprecedented forest fires in Quebec forced shut downs at several mining operations in the province, noted Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and CEO and Co-founder of VRIFY, Steve de Jong. Unseasonably warm weather resulted in over 150 active fires in Quebec. The plight of the province gained international attention when smoke from the fire enveloped New York City in a deep haze. Several miners, developers and juniors suspended operations due to operating hazards in Quebec. Wesdome Gold Mines (TSX: WDO) announced yesterday that it...
2023-06-0929 minKitco NEWS RoundtableGold trades lower and Ford announces a spate of lithium dealsGold dropped end of week after less than rosy economic data was released, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. The U.S. annual core Personal Consumption Expenditures price index came in at 4.7% in April versus the consensus forecast of 4.6%. The U.S. central bank favors this gauge because the core inflation strips out volatile food and energy prices. Gold fell following the data release, with June Comex gold futures last trading at $1,946.80 an ounce. Data shows that inflation may not be coming down fas...
2023-05-2608 minKitco NEWS Roundtable'We don't have any competition right now' - Kai Hoffmann on gold investingDuring past precious metal run ups, gold investing was competing against rotations into cannabis or crypto, argued Soar Financial CEO Kai Hoffmann, but during this cycle the metal has the stage to itself. On Friday Hoffmann recorded Kitco Roundtable with Kitco correspondent Paul Harris and mining audiences manager Michael McCrae. The podcast was recorded at Hoffmann's Deutsche Goldmesse show in Frankfurt, Germany. Gold hit an all-time high last week. Silver has also been at near yearly highs. "We actually don't have any competition right now as gold inves...
2023-05-0814 minKitco NEWS Roundtable'The riskiest assets on the planet' - Rick Rule on when to bet on gold stocksWhile precious metal prices have been relatively high this year, it could be too early to leap into junior gold stocks, said Rick Rule, president and CEO of Rule Investment Media. On Friday Rule recorded Kitco Roundtable with Kitco correspodent Paul Harris and mining audiences manager Michael McCrae. Gold gained $150 in March — its best month since July 2020, noted Kitco's Anna Golubova. Analysts are seeing markets contradicting the Fed's messaging, and gold may have lots more upside, including testing and breaking record highs in April. Gold stocks are catch...
2023-03-3135 minKitco NEWS RoundtableWhat's good for gold is also good for copperThe same news that drove gold higher this week also gave copper a lift, noted mining audiences manager Michael McCrae. On Thursday McCrae recorded Kitco Roundtable with correspondent Paul Harris.Gold started off the week strong due to wobbles in the banking sector. Credit Suisse, the European banking giant, was taken over by UBS on the weekend. The markets then turned to the Fed and its rate hike. The Federal Reserve raised its main interest rate by a quarter-point, but the Fed also suggested that rates would not continue to rise. A weakening U...
2023-03-2409 minKitco NEWS RoundtableThe gap widens between the gold producers and developers While relatively high gold prices favor the producers, weak financing conditions are going to be a drag on companies not yet producing, noted Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and Meridian Mining Executive Chairman Gilbert Clark. Meridian Mine (TSX:MNO) is focused on advancing its Cabaçal gold-copper deposit in Brazil. Earlier this week the company released a positive preliminary economic assessment for the project showing an after-tax net present value of $573 million and a 58.4% internal rate of return using $1,650 oz gold and $3.59 lb c...
2023-03-1022 minKitco NEWS Roundtable'They're making a lot of money' - Paul Harris says current gold price still favors minersAlthough gold prices are down from the start of the year, miners still have healthy margins at the current price levels, noted Kitco correspondent Paul Harris. In February Harris recorded Kitco Roundtable at BMO Global Metals, Mining & Critical Minerals Conference with Mining Audiences manager Michael McCrae and Adriatic Metals CEO Paul Cronin.Adriatic Metals (ASX:ADT) will commence production at its Vares silver project in Bosnia & Herzegovina in Q3 of this year. Adriatic describe Vares as one of the highest margin polymetallic projects globally. Post-tax NPV is estimated at $1.062 billion and IRR at 134%. Af...
2023-03-0528 minKitco NEWS RoundtableM&A momentum in the gold sectorEarly this week B2Gold said it would acquire Sabina Gold & Silver for C$1.1 billion (US$823.66 million).On Friday's Roundtable mining audiences manager Michael McCrae and Kitco correspondent Paul Harris talked about yet another big M&A in the gold sector. Early this month number one gold miner Newmont made a $16.9 billion offer for number seven ranked Newcrest. This week Newcrest said the offer under values the company. McCrae and Harris also talked about LG Chem buying a stake in Piedmont Lithium.
2023-02-1706 minKitco NEWS RoundtableGold lifts offA less rosy jobs report helped gold end the week higher, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and Aura Minerals CEO Rodrigo Barbosa. U.S. employment data from December showed a slight slowdown in hiring. The U.S. unemployment rate dropped to 3.5%, beating market consensus calls of 3.7% for December. As of noon Eastern time Friday, spot gold was trading at the $1,860 an ounce level, a range the metal hadn't seen in the last seven months. Barbosa's Aura Minerals is a mid-tier gold...
2023-01-0620 minKitco NEWS RoundtableNever mind the bounce in metal prices, resource sector faces headwinds - Maple Gold Mines' HornorAfter Agnico Eagle Mines and Pan American Silver announced that they would acquire Yamana Gold in November, the Quebec miner is not expected to slow its pace. On Friday Maple Gold Mines' Matthew Hornor made the remarks while recording Kitco Roundtable with mining audiences manager Michael McCrae and Kitco correspondent Paul Harris. Maple Gold Mines (TSX.V: MGM) is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines to jointly advance the district-scale Douay and Joutel gold projects located in the Abitibi Greenstone Gold Belt of Quebec, Canada. With the...
2022-12-1622 minKitco NEWS RoundtablePivoting from inflation fears to recession fearsWorries about inflation appear to be supplanted by fears about a recession, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris. The Federal Reserve started raising interest rates in the summer to fight inflation. There are signs the medicine is taking hold. Consumer price inflation figure was lower than expected last month. Commodity prices have also been dropping, notably oil. Early this week oil hit its lowest level since January.With worries about inflation receding, McCrae noted that financial commentators are now switching their concern to re...
2022-11-2510 minKitco NEWS RoundtableBattery-metal miners hit turbulenceBattery-metal producers warned of softer prices in this season's quarterlies, said mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and Revival Gold CEO Hugh Agro.
2022-10-2819 minKitco NEWS RoundtableBiden administration cuts big checks for battery metal minersThis past week the United States Department Of Energy announced several grants to battery metal miners, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. The recently passed Inflation Reduction Act included a provision to fund energy transition. It incentivized companies to build battery metal manufacturing facilities in the U.S.This past week notable announcements were Piedmont Lithium getting $141.7 million for a Tennessee lithium processing plant, Talon Metals getting $114 million for a battery minerals processing facility in North Dakota and Syrah Resources getting $220 million fo...
2022-10-2110 minKitco NEWS RoundtableCameco goes downstreamA string of economic data is throttling commoditiesOn Friday mining audiences manager Michael McCrae recorded Kitco Roundtable with correspondent Paul Harris. On Thursday consumer price inflation report was released by the U.S. Bureau of Labor. Inflation increased by 0.4% in September which was higher than the forecasts predicted. The inflation print along with last week's strong jobs number pushes the Fed to further tightening. As if to put an exclamation point on it, Michigan Consumer Sentiment was released today. It ticked up in October.The gold market is end...
2022-10-1408 minKitco NEWS RoundtableThe Fed is 'doing absolutely the right thing' - Liberty Gold's Cal EverettSteep interest rate hikes are hard on commodities and the markets, but the move is necessary, said Liberty Gold CEO Cal Everett. On Friday Everett recorded Kitco Roundtable with mining audiences manager Michael McCrae and Kitco correspondent Paul Harris. The Federal Reserve's rate hikes have been hard on investors. In early September the Fed increased its benchmark rate by 75 basis points, and another 1.25 percentage points is in the cards before year end. This week gold hit a 2.5 year low. The S&P 500 has dropped nearly a quarter year to date. "I think they're...
2022-09-3034 minKitco NEWS Roundtable'There is nowhere to hide’ - Steve de Jong on why this market pullback is differentToo much conservatism and a focus on capital discipline was a drag on the mining sector's big get together in September, said Kitco correspondent Paul Harris.On Tuesday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and VRIFY CEO Steve de Jong. Roundtable was filmed at Gold Forum Americas in Colorado Springs. The event began on Monday.The forum started on a sour note with gold dropping to its lowest level in nearly 2.5 years on Friday. De Jong noted similarities to past pullbacks in the previous decade when junior companies had the option...
2022-09-2123 minKitco NEWS RoundtableDoom and gloomWith gold dropping below $1,700 junior mining investors are scarce, notes Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae. Harris is at the 2022 Precious Metals Summit Beaver Creek. He noted the mood at this fall's kick-off show. "It's quite doom and gloom. The running joke is 'spot the investor'," said Harris.
2022-09-1607 minKitco NEWS RoundtableWhy a mid-October meeting in Beijing will be pivotal for commoditiesAfter an August shellacking, markets and commodities were keen to turn to the page, said Kitco's mining audience manager, Michael McCrae. On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and Arnoud Star Busmann, president and CEO of Minehub Technologies.On Friday gold rose as the dollar weakened, although prospects of more rate hikes from the U.S.Federal Reserve are keep a lid on further gains. Spot gold hit a high of $1,729 today. Bitcoin spiked above $21K, pushing the total crypto market cap back above $1 trillion. Copper finished...
2022-09-0915 minKitco NEWS RoundtableThe other solution to meet the world's need for metals—demand lessDecelerating economic growth was pitched as a solution for meeting the world's demand for metals, reported Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae. While energy transtion will require higher production levels of copper, lithium and nickel, metal production is generally declining. Reuters reported that top copper miner, Codelco, is set to produce significantly less copper. Over the next five years production is not expected to surpass 1.5 million tonnes. Traditionally Codelco has produced over 2 million tonnes annually. Some reasons for the decline are water shortages, declining asset...
2022-09-0207 minKitco NEWS RoundtableUranium companies trade higher after Japan announces nuclear restartUranium miners traded higher this week after Japan announced plans to resume the country's nuclear program, noted Ur-Energy's CEO John Cash. On Friday Cash recorded Kitco Roundtable with mining audiences manager Michael McCrae and Kitco correspondent Paul Harris. Ur-Energy is an in-situ uranium company with operations in Wyoming, U.S. Since 2013 the company has produced and shipped about 2.6 million pounds U3O8 from its Lost Creek operation.Japan will restart more idled nuclear plants and look at developing next-generation reactors, Prime Minister Fumio Kishida said on Wednesday, a major policy shift on nuclear...
2022-08-2625 minKitco NEWS RoundtableWhy turn to mining for carbon sequestration - CO2Lock's Cooper QuinnNear permanence and verification are the chief advantages to using reactive rocks for carbon sequestration, said CO2Lock's CEO Cooper Quinn.On Friday Quinn recorded Kitco Roundtable with mining audiences manager Michael McCrae and Kitco correspondent Paul Harris.CO2Lock is commercializing carbon capture and storage (CCS) using rocks that react and trap carbon dioxide. CO2Lock was formed this spring. It is a subsidiary of FPX Nickel (TSXV: FPX).The minerals the company are using are brucite-rich serpentinized peridotite. CO2Lock claims the rocks have a high rate of reaction with CO2...
2022-08-1923 minKitco NEWS RoundtableThe most consequential week for commodities of 2022The Consumer Price Index number released on Wednesday marked a turning point in the markets, argued Kitco's mining audiences manager Michael McCrae.On Friday McCrae recorded Roundtable with Kitco correspondent Paul Harris and Exploration Insights editor Joe Mazumdar.The Wednesday inflation news from the Labor Department shows that U.S. consumer prices were unchanged in July. The CPI was flat last month after advancing 1.3% in June. A drop in oil prices were credited. McCrae argued that the inflation narrative has weakened."It's just one month's data, but there was a sea change. Money...
2022-08-1322 minKitco NEWS RoundtableRemembering mining legend Lukas LundinLukas Lundin's passing was announced on Wednesday. On Friday Lundin Gold CEO Ron Hochstein shared his rememberances with Kitco correspondent Paul Harris and mining audiences manager Michael McCrae on Kitco Roundtable. Lundin Gold's flagship asset is its Fruta Del Norte Mine. In 2014 Lukas Lundin acquired Fruta Del Norte project for $240 million. The company (TSE: LUG), which Lukas chaired, now has a market cap just under $2 billion and is set to produce 420,000 ounces at around $900 a ounce. Lukas Lundin led the development of many resource projects. He was a dealmaker and a mine builder.
2022-07-2923 minKitco NEWS RoundtableFord inks a bunch of mining dealsFord Motors announced seven battery-metal deals this week, noted Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and Cornish Metals CEO Richard Williams.On Thursday the automaker announced it will buy lithium from ioneer, which is advancing its Rhyolite Ridge project in Nevada. Other deals Ford announced were with Compass Minerals, Syrah Resources and Rio Tinto.Keeping with the battery metals theme, Williams updated the Roundtable on the company's South Crofty tin project in south west England.
2022-07-2224 minKitco NEWS RoundtableThe Yukon's biggest resource sector catalystsSnowline Gold CEO Scott Berdahl singled out Victoria Gold going into operation as one of the biggest catalyst for the region's mining sector. On Friday Berdahl recorded Kitco Roundtable with Kitco correspondent Paul Harris and mining audiences manager Michael McCrae. Snowline Gold (CSE:SGD, OTCQB:SNWGF) is an exploration company operating in the Yukon. Snowline’s portfolio is spun out from a private, Yukon-based, family-owned prospecting company. The company's flagship, district-scale gold projects occupy the intersection of two mineral belts. Two significant greenfield gold discoveries in 2021, Jupiter and Valley, demonstrate presence of multiple deposit types an...
2022-07-1519 minKitco NEWS RoundtableA major automaker buys a stake in a lithium developerCarmaker Stellantis bought an 8% stake in direct lithium extraction company Vulcan Energy Resources for $52 million this week. On Friday Kitco Roundtable's Michael McCrae sat down with the CEO of Golden Shield Resources, Leo Hathaway. Kitco correspondent Paul Harris and editor Neils Christensen recorded a segment from the Yukon, where they are participating in a mine tour. Golden Shield Resources is a gold-exploration company focused on three, 100% owned, exploration projects in Guyana, South America.
2022-06-2528 min
Kitco NEWS RoundtableConflict reveals potash market's vulnerabilitiesThe Russia-Ukraine war revealed the vulnerability of the potash supply chain, said Gensource Potash CEO Mike Ferguson. On Friday Ferguson recorded Kitco Roundtable with mining audiences manager Michael McCrae and Kitco correspondent Paul Harris. Gensource is advancing a new technology, which Ferguson said is more modular and requires less capital. Gensource produces potash using a closed-loop method called selective extraction. A hot salt brine that is injected into ore bodies and then pumped out. Russia and Belarus account for approximately 40 percent of global potash production and exports, noted Nutrien in its Q1 guidance...
2022-05-1425 min
Kitco NEWS RoundtableTech craters, bitcoin tumbles and gold doesn't look that badGold is holding up relatively well compared to everything else, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris after a tumultuous week for markets and metals. On Wednesday the Fed announced a 50-basis point hike, the biggest in 22 years. The U.S. dollar and U.S. Treasury yields all soared this week, while there was carnage in the markets. NASDAQ composite is down 22% year to date, while the S&P is down 13%. Bitcoin is also down 23% since Dec. 31. Gold hasn't...
2022-05-0708 minKitco NEWS RoundtableGold's big dropGold dropped sharply in April due to a rise in U.S. Treasury yields and a resilient U.S. dollar, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris. Copper was off about 5% for the week, noted McCrae. Concerns about the pandemic and an industrial slowdown in China weighed. In its earnings Caterpillar warned that demand in China will be weak, similar to what was experienced in 2019 during the start of the pandemic. The Chinese government did announce an aggressive stimulus to support the economy.
2022-04-3007 minKitco NEWS RoundtableWhy this commodity bull market is different - Queen's Road CapitalWhile many metal prices have rocketed, mining equities have mostly under-performed, noted Queen's Road Capital CEO Warren Gilman.On Friday Gilman recorded a podcast with Kitco correspondent Paul Harris and mining audiences manager Michael McCrae.Queen's Road Capital (TSX:QRC.V) finances miners. The company focuses on convertible debt securities. Some investments are NexGen Energy, Adriatic Metals and Los Andes Copper.Metal prices are up due to supply disruptions and the pandemic, but Gilman said companies are still under-valued."It's generally harder to deploy capital in a equity bull market, but...
2022-04-2325 minKitco NEWS RoundtableWhy copper miners prefer brownfield projectsEnergy transition is going to require a lot of copper, but miners are still cautious, said Kitco correspondent Paul Harris. On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and CEO and co-founder of Enduro Metals, Cole Evans. Enduro Metals (TSXV: ENDR) is an exploration company focused on British Columbia’s Golden Triangle. In late March Harris covered the CRU World Copper Conference 2022 in Santiago, Chile. According to CRU presentations at the show, there is a six-million tonne per year supply deficit for copper. The deficit will require about $100 billion of...
2022-04-0227 minKitco NEWS Roundtable'In a moment like this gold really does have a safe-haven status' - Triple Flag Precious MetalsDuring one of the most serious geopolitical events in decades, gold performed, said Triple Flag Precious Metal's CEO and founder, Shaun Usmar. On Friday Usmar recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.Triple Flag (TSX:TFPM,) is a gold-focused streaming and royalty company. The panel talked about gold's rise after Russia invaded Ukraine. When the news broke a week ago Wednesday, spot gold crested $1,940 an ounce hitting a 20-month high while Bitcoin lost about 7%."All that rhetoric around Bitcoin and crypto being a new store of...
2022-03-0534 minKitco NEWS RoundtableThe big hurdle to develop new Canadian nickel minesWhile nickel demand is growing due to energy transition, miners are hesitant to jump in due to an incomplete supply chain, said Lyle Trytten, development manager at Giga Metals and president of Trytten Consulting. On Friday Trytten recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Electric vehicle adoption is quickening, and nickel is a key component to make some types of lithium-ion batteries. While nickel traded at a decade-high this year, Trytten said the metal price works to economically build a mine, but there is a missing processing component.
2022-02-1930 minKitco NEWS RoundtableWhy you need a lot less ounces to put a mine into production in NewfoundlandYukon prospector Shawn Ryan said smaller mines are possible in Newfoundland due to the good infrastructure. On Friday Ryan recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.Ryan is behind some of the most successful discoveries in the Yukon, such as the Coffee project, which was eventually picked up by Goldcorp for over C$520 million. Ryan is currently chief technical advisor for White Gold, as well as technical advisor at GroundTruth Exploration, a 200-person strong exploration firm in the Yukon. "I'm used to working in the Yukon...
2022-02-1122 minKitco NEWS RoundtableGet ready for a 'very frightening' copper crunchWhile there may be an easing off of copper prices in the short term due to big copper mines coming online, economist Patricia Mohr said demand from energy transition is going to overwhelm in the medium- to long-term and drive prices higher. On Friday Mohr recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Mohr was formerly with Scotiabank. Teck’s QB2 project is expected to begin by late 2022. Ivanhoe’s Kamoa-Kakula operation started in 2021 and is ramping up. Kamoa-Kakula is expected to hit peak annual copper production of more than 8...
2022-02-0727 minKitco NEWS RoundtableWhy some investors prefer silver—bigger movesSilver favors investors with larger prices swings relative to gold, said James Anderson, CEO of Guanajuato Silver. On Friday Anderson recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.Guanajuato Silver (GSilver) is reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The company currently has two mines are El Cubo, which is currently producing, and El Pinquico, which is advancing to restart."A lot of the investors I've spoken to often say that they make more money [investing] in silver rather than gold, b...
2022-01-2927 minKitco NEWS RoundtableCar ownership may fade due to rising battery metal costsThe shortage of battery metals is driving up the costs of electric vehicles to the point where car ownership may transition to various types of rental models, said Matt Fernley, editor of Battery Materials Review and Head of Research for Westbeck Capital’s Volta Energy Transition fund.On Friday Fernley recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Editor Neils Christensen and Kitco correspondent Paul Harris.Demand for electric vehicles is up sharply due to a big worldwide regulatory push and swiftly changing consumer sentiment. However, battery metals costs are rising quickly due to su...
2022-01-2244 minKitco NEWS RoundtableWhy miners are moving 'twice as much material' to produce copperCopper prices are heading up due to increased demand from energy transition and declining grades at existing mines, said Nolan Peterson, CEO of World Copper. On Friday Peterson recorded Kitco Roundtable with Kitco correspondent Paul Harris and Mining Audiences Manager Michael McCrae. World Copper is a copper-focused exploration company operating within Chile. "The average head grade of copper mines worldwide has dropped from about 1.6% to below 1% now," said Peterson. "That's been a steady decline over the last 30 years. [It] doesn't seem like a lot when you think about it, but you're basically moving twice as...
2022-01-0831 minKitco NEWS RoundtableWhat were 2021's top headlines, and next year's emerging trends?This week Kitco Roundtable panelists Michael McCrae, Paul Harris and Neils Christensen picked their top news story of the year, as well as emerging trends in 2022. McCrae is Mining Audiences Manager, Harris is a Kitco correspondent and Christensen is a Kitco editor.McCrae chose the large automakers investing electric vehicles as mining's top headline, due to a firm commitment to battery metals. Christensen said meme stocks and emerging silver were most impactful to him. Looking at top gold deals, Harris argued that Newcrest buying Pretium had the biggest implication for the precious metal space.
2022-01-0633 minKitco NEWS RoundtableGolden Triangle's energy transition is a 'massive paradigm shift' - Skeena ResourcesThe build out of hydroelectric power in the northwestern B.C. is fundamentally changing mining and exploration in the region, said Walter Coles Jr., CEO and president of Skeena Resources (TSX:SKE).On Friday Coles recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Editor Neils Christensen and Kitco correspondent Paul Harris. Skeena is an exploration company focused on northwestern B.C., the Golden Triangle. The region has seen big developments, recently Newcrest's $2.8 billion Pretium purchase in November.Coles said that mine costs and environmental pressures are seeing rapid changes with miners being able to...
2021-12-1840 minKitco NEWS RoundtableWhy battery metal M&A is more frothyWhile big deals in the gold space are getting done, the battery metal space is seeing more aggressive mergers and acquisitions, noted panelist Mining Audiences Manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris.For much of 2021 Wyloo Metals and BHP Billiton were in a bidding war for Noront Resources, which is advancing its Eagle’s Nest nickel, copper, platinum and palladium deposit located in Ontario. In October Sibanye-Stillwater beat several bidders and paid $1.0 billion for both the Santa Rita nickel mine and the Serrote copper mine in Brazil....
2021-12-1118 minKitco NEWS RoundtableThe gold sector is relatively small, but that can be a positiveTechnology giants dwarf mining giants, but that can also benefit investors, said Yamana Gold's executive chairman, Peter Marrone. On Friday Marrone recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Editor Neils Christensen and Kitco correspondent Paul Harris. The largest gold miner, Newmont, has a market capitalization of $44 billion, compared to Apple's $2.57 trillion valuation. Fractionally, Newmont is 1.7% the size of Apple. Tech companies have also been attracting more investors. The Nasdaq Composite is up 22% year to date. The VanEck Junior Gold Miners ETF is down by nearly the same amount over the same...
2021-11-2745 minKitco NEWS RoundtableGold miner M&A is on a rollThere has been a succession of mergers and acquistions in the gold space, said mining audiences manager Michael McCrae. On Friday McCrae recorded a podcast with editor Neils Christensen and Kitco correspondent Paul Harris. This past week it was announced that Evolution Mining would buy Glencore's Ernest Henry Mining copper-gold mine in Queensland, Australia, for A$1 billion ($730 million).Earlier this month top ten Australian miner Newcrest picked up Pretium for $2.8 billion. In October there was the Agnico Eagle-Kirkland Lake tie up. If the merger is approved, Agnico Eagle will be a number three...
2021-11-2114 minKitco NEWS RoundtableCentral banks 'are stuck between a rock and hard place'Precious metals look good due to the central banks finding themselves stuck "between a rock and hard place," said Gwen Preston, who runs the Resource Maven. On Friday Preston recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Preston was commenting on Bank of England, which decided not to raise rates on Thursday. The bank had made hawkish statements in the face of wage and inflation pressures. "I think people are starting to realize that they're really stuck. We still need this liquidity in the global economy to...
2021-11-0648 minKitco NEWS Roundtable'I love his aggression' - Ian Telfer on Sibanye-Stillwater CEOThe gold miners have not done themselves any favors with hiking dividends instead of acquiring more assets, said mining legend and entrepreneur Ian Telfer. On Friday Telfer recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Telfer has had a storied mining career and was foundational in the creation of Goldcorp and Wheaton Precious Metals. Telfer explained why he didn't favor buybacks or dividends by the gold miners. "The majority of the share buyers are not looking for dividends. They're looking for an increase in the...
2021-10-2928 minKitco NEWS RoundtableWhy substitution is not easy in the battery metal spaceInnovation is relentless in the electric vehicle space, particularly around material substitution due to worries about reliability of supply, but original equipment manufacturers need time to adjust to new processes, said Dr. Soroush Nazarpour, founder and CEO of NanoXplore (TSE:GRA). On Friday Nazarpour recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.NanoXplore is a graphene company, a manufacturer and supplier of graphene powder for use in industrial markets with applications in transportation, packaging, pipe, film, electronics. The company is up 186% to $7.88 a share in the...
2021-10-2343 minKitco NEWS Roundtable'It's just outlandish' - Matt Watson on EV uptake and mineral demandNever mind the current rush into electric vehicles, coming regulations are going to drastically increase EV adoption and mineral demand, said Matt Watson, founder of Precious Metals Commodity Management.On Friday Watson recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.In the seven months up to July, global sales of electric vehicles were up 150% to just over 3 million units, compared to the same period in 2020, with about 1.3 million sold in China, according to the consultancy Rho Motion and reported by Reuters. And in Norway sales of EVs have been...
2021-10-1648 minKitco NEWS Roundtable'Get out your bell bottoms and your disco records' - Erfle on stagflationA second bad jobs report along with spiking energy prices is hinting at stagflation, said Junior Miner Junky editor David Erfle. On Friday Erfle recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.The job's report for September was dismal with only 194,000 jobs added last month. The forecast was for a much higher number, ranging from 450,000 to 500,000 new jobs. The preceding August jobs report was also a disappointment.While the jobs report could point to a soft economy, some commodity prices are spiking, notably oil...
2021-10-0945 minKitco NEWS RoundtableMining pivots to meet battery-metal demand; oil and gas, computational needsSome advanced computers require super-cooling, and that's where helium plays its role, said Desert Mountain Energy's CEO Robert Rohlfing. On Friday Rohlfing recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.Mining companies have been investing in lithium, copper and nickel projects to meet growing need for lithium-ion battery materials. Some oil and gas companies are pivoting to helium extraction. There is a growing need for helium, which cools computationally intensive hardware needed for machine learning, which is finding its way into transportation and smart-driving...
2021-10-0251 minKitco NEWS Roundtable'I've never seen anything like this before' - Zimnisky on strong U.S. diamond demand REPRISEWith travel curtailed due to the pandemic, consumers are shifting spending to material luxury items, which favors diamonds, said Paul Zimnisky, industry analyst. Early last monthy Zimnisky recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen."If you look at Signet Jewelers--the largest jewelry company in the U.S.--they've raised sales guidance three times this year. I've never seen anything like this before," said Zimnisky.[EDITORS'S NOTE: Interview appears to have not run due to technical issues. We are reprising the episode with s...
2021-10-0132 minKitco NEWS Roundtable'Are there still world-class discoveries to be made? Absolutely!' - Rob McLeodThere is still a lot ground left to explore and find big new discoveries, said the CEO of Blackwolf Copper and Gold (CVE:BWCG), Rob McLeod. On Friday McLeod recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.There is a concern that precious metal supply may be constrained in the future without any big new gold projects. McLeod said there are still vast areas that are under-explored. Glaciers are receding, uncovering prospective ground. Technology is also helping find potential new targets. "Are there still wo...
2021-09-2550 minKitco NEWS RoundtableGold's 'marginal project' problemThe gold sector suffers from a lack of quality projects, said Banyan Gold's CEO Tara Christie. On Friday Christie recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.Year-to-date the VanEck Junior Gold Miners ETF is off 30% to $17.57. Harris said too many gold companies make the sector harder for investors to navigate. Barrick Gold CEO Mark Bristow wants to see more sector consolidation, according to Reuters. Still, gold prices have been good, and producers are cashed up for acquisitions."I think the bigger problem is l...
2021-09-1837 minKitco NEWS RoundtableEquinox Gold's path to one million ounces of productionSignificant milestones for Equinox Gold (TSX:EQX) is production coming online in Brazil and Ontario, said president Greg Smith. On Friday Smith recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.Equinox Gold is forecasting about 600,000 ounces this year with plans to grow to one million ounces annually. Smith said key milestones will be a mine at Santa Luz with the first pour scheduled for the first quarter of 2022. Santa Luz is situated in Brazil. Equinox is also advancing its Greenstone project in Ontario. A mi...
2021-09-1133 minKitco NEWS RoundtableWhy the fall could finally lift lagging gold minersThe gold miners and juniors are trading at significant lows despite the yellow metal pushing through $1,800 this week, noted Greg Johnson, CEO of Metallic Minerals and chair of the Metallic Group. On Friday Johnson recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris. Gold and gold equities were near an all-time high a year ago, noted Johnson. Since then prices have slid with the VanEck Vectors Junior Gold Miners down 28%. "The juniors tend to correct more. They also go up more during the upper legs of the cyc...
2021-08-2834 minKitco NEWS RoundtableGold dusts itself off from the flash crashGold has risen smartly after it dropped sharply at the start of the week.
On Friday Stephen Soock at Stifel recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.
Panelists discussed the flash crash, the Fed's pull on the gold market and earnings from Barrick Gold.
2021-08-1645 minKitco NEWS RoundtableWhy building a rare earth mine is such a high hurdleProcessing rare earth ore has a huge hurdle for most projects, said the CEO and president of Geomega Resource, Kiril Mugerman. On Friday Mugerman recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.Geomega is investing in recycling processes to recover rare earth waste. Mugerman was asked why it is so difficult to build a rare earth mine. "Separating [rare earth] is very hard. There is uranium and thorium included, so you need to get rid of those. You're dealing with fairly low grades. If...
2021-08-0748 minKitco NEWS Roundtable'We are in a super cycle' - Battery Materials ReviewElevated demand for battery materials due to energy transition makes this period a super cycle, said Battery Materials Review Editor Matt Fernley. On Friday Fernley recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen.Battery materials like copper, nickel and lithium have had big price run ups in 2021. "We are in a super cycle. I define a super cycle where you see a structural demand event tied to a situation where you have tight supply, and this is the very definition of a super cy...
2021-07-2451 minKitco NEWS RoundtableEnergy transition incentives are not just coming from gov'ts - Ion EnergyWhile governments have been announcing ambitious green-energy initiatives, the private sector has been matching with its own spending, said Ion Energy CEO Ali Haji. On Friday Haji recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen. Ion Energy (CVE:ION) is advancing a lithium project in Mongolia. Haji noted that the Biden administration has plans for energy transitioning spending in the billions. Haji also pointed to GM's June announcement that it was increasing spending on electric and autonomous research. "We've also seen the...
2021-07-1738 minKitco NEWS RoundtableGeopolitical risks are baked into the nickel supplyWith the concentration of nickel in countries such as New Caledonia and Philippines, the nickel supply faces jurisdictional risk, said FPX Nickel's CEO Martin Turenne.On Friday Turenne recorded Kitco Roundtable podcast with Mining Audiences Manager Michael McCrae, Kitco correspondent Paul Harris and editor Neils Christensen. FPX Nickel (TSX-V:FPX) is a Vancouver-based junior nickel mining company developing the large-scale Decar Nickel District in central British Columbia.The French protectorate of New Caledonia has been facing political strife as an independence vote looms later this year. Early this century the region's nickel reserves w...
2021-07-1045 minKitco NEWS RoundtableBattery materials regain M&A spotlightAIM-listed Bacanora Lithium (LON: BCN) announced Thursday it has agreed to a $264.5 million acquisition by its offtake partner, Ganfeng Lithium.The deal was highlighted by correspondent Paul Harris who recorded Kitco Roundtable podcast on Friday with Mining Audiences Manager Michael McCrae, editor Neils Christensen and special guest Mark Fellows, co-founder of and director at Skarn Associates.This year most of the big deals in the metals space have been battery materials. McCrae noted deep sea miner, The Metals Company, going public in a $2.9bn SPAC deal announced in March. The company is focused on polymetallic...
2021-05-0858 minKitco NEWS RoundtableM&A heats up in the battery materials spaceLithium miners Orocobre and Galaxy Resources merged this week in a A$4 billion (US$3.1 billion) deal to create the world's fifth-largest global lithium chemicals company. The deal was highlighted by Mining Audiences Manager Michael McCrae on Kitco Roundtable recorded with Kitco correspondent Paul Harris, editor Neils Christensen and special guest Stephen Twyerould, CEO of Excelsior Mining. The show was recorded on Friday.In January Pilbara Minerals finalized its purchase of Altura lithium. Deal was valued at $201 million. Last month deep sea miner DeepGreen Metals went public with a special purpose acquisition company, which va...
2021-04-2450 minKitco NEWS RoundtableRobert Friedland, Goldman Sachs light up copperCopper's centrality to the new economy makes it potentially destabilizing as countries scramble for more supply, said Robert Friedland who gave opening remarks at the CRU conference this past week.On Friday editor Neils Christensen, Kitco correspondent Paul Harris and mining audiences manager Michael McCrae recorded a podcast with guest Ryan King, Vice President Corporate Development at Calibre Mining. The panelists discussed gold and inflation, as well as rising commodity prices due to energy transition and metals needed to build future infrastructure. The group noted Friedland's remarks, as well as the copper note published by Goldman Sachs.
2021-04-171h 00Kitco NEWS RoundtableWhy that prefeasibility study needs a big warning labelThe wide degree of speculation that is needed to author a preliminary feasibility study and other economic documents is not clear to the general investor, said Douglas Silver, CEO of Balfour Holdings. On Friday Silver joined editor Neils Christensen, Kitco correspondent Paul Harris and mining audiences manager Michael McCrae to record a podcast.Silver has had a career being on the right side of industry trends. He was founder of International Royalty Corporation, which was acquired by Royal Gold in 2010. Total deal size was C$750 million. Silver also helped get the Denver Gold Group off t...
2021-04-101h 18Kitco NEWS RoundtableThe news that set back a nickel revival Last month nickel prices looked like they may break to a level that would support new mine development, but news out of Indonesia ended the rally, said Ken Hoffman, Co-Leader EV Battery Materials Group at McKinsey. On Thursday Hoffman joined editor Neils Christensen, Kitco correspondent Paul Harris and mining audiences manager Michael McCrae to record a podcast. With electric vehicles coming to the fore with government incentives and broad consumer acceptance, more batteries are going to be needed, and nickel is turning out to be a key battery metal. However, supply is limited. The...
2021-04-021h 08Kitco NEWS RoundtableHow the pandemic sped up mine automation The adjustments miners had to make during the pandemic may have resulted in speeding up automation, said Eric Winsborrow, EVP Corporate Strategy, Wenco International Mining Systems.On Friday Winsborrow joined editor Neils Christensen, Kitco correspondent Paul Harris and mining audiences manager Michael McCrae to record a podcast.A subsidiary of Hitachi Construction Machinery, Wenco provides technology solutions to its parent company, such as fleet management and mining analytics.During the pandemic, miners relied more on automation to keep people from coming into close quarters."The experience of not being a...
2021-03-271h 01Kitco NEWS RoundtableWhy rock bottom refining charges are bullish for copperCopper prices are high, and inventories are low, but the CEO of Kodiak Copper, Claudia Tornquist, said there is another bullish indicator for the base metal.On Friday Tornquist was a guest on Kitco Roundtable podcast with correspondent Paul Harris, editor Neils Christensen and mining audiences manager Michael McCrae.Kodiak is advancing its MPD copper-gold porphyry project in southern British Columbia.As of Friday afternoon, spot copper was $4.13 a lb. The recent price spike is significant. Copper has not seen prices at these levels since 2012.London Metal Exchange copper stock have...
2021-03-1358 minKitco NEWS RoundtableThe 'magic number' you need to develop a nickel projectWith nickel prices spiking last month to six-year highs and EV automobile projected to go parabolic, the industry is starting to realize there is not enough metal available.On Friday Kore Mining's VP of exploration, Michael Tucker, joined Kitco Roundtable podcast with correspondent Paul Harris, editor Neils Christensen and mining audiences manager Michael McCrae.Last month LME nickel traded at a six-year high, hitting $19,689 a tonne before falling back.Tucker said nickel is a key material for electric vehicles, and the metal is expected to have one of the highest multiples of current...
2021-03-0659 minKitco NEWS Roundtable'It's instant, it's ferocious': A 40-year veteran on mining and financeIt's the speed of the industry that John Skinner notices most when remarking on changes in mining and finance.On Friday Skinner was a guest on Kitco Roundtable podcast with correspondent Paul Harris and mining audiences manager, Michael McCrae.Skinner has been in and out of the resource sector since starting his career in the mid ‘80s at Yorkton Securities."The thing I've noticed since I was in the industry is just how different and how much faster everything happens because of social media. You used to have to wait for a newspaper to...
2021-02-2746 minKitco NEWS RoundtableCopper reaches tipping pointWith copper hitting a multi-year high, copper projects can start moving into the development phase, said Ashley Heppenstall, director at Lundin Mining and chair of Joemaria Resources.On Friday Heppenstall joined editor Neils Christensen, correspondent Paul Harris and mining audiences manager, Michael McCrae to record Kitco Roundtable. Lundin Mining (TSX:LUN) is a copper, nickel, zinc and gold producer. Today, the company reported a $498.1 million in gross profit, an increase of $57.7 million in comparison to the prior year off of strong base metal prices. Heppenstall's Josemaria Resources is advancing a copper-project in Argentina. Th...
2021-02-201h 11Kitco NEWS RoundtableMaybe the gold miners should buy bitcoinSeveral miners released record cash hauls at year end, but investors are showing the sector scant love. On Friday Kitco Roundtable podcast featured editor Neils Christensen, correspondent Paul Harris and mining audiences manager Michael McCrae. Special guest was Sam Riggall, CEO of Clean TeQ. Riggall's company is developing a nickel-cobalt-scandium project in New South Wales. The company is positioning itself to supply materials for the electric vehicle materials market. Riggall said the project is large. "Sixty-five per cent of the current U.S. pass...
2021-02-131h 12Kitco NEWS RoundtableWhy a lousy jobs report could be a turning point for precious metalsToday's labor report showing deeper than expected job losses in January will support stronger stimulus measures, which could be bullish for gold, said Kitco editor Neils Christensen.On Friday Christensen recorded Kitco Roundtable podcast with mining audiences manager Michael McCrae, correspondent Paul Harris and ValOre Metals CEO Jim Paterson.The U.S. Labor Department released its jobs report today indicating that the number of new jobs gained in January came in at 49,000, and the unemployment rate fell from 6.7% to 6.3%, wrote contributor Gary Wagner. Although there was a down-tick in the unemployment rate, last week Jerome...
2021-02-0653 minKitco NEWS RoundtableCOVID-19 was NOT the news headline of the yearWhen asked what factor will have the most significant impact upon mining and metals over the next decade, social license and electric vehicle material demand were common choices amongst a panel of news editors and special guests.Correspondent Paul Harris, editor Neil Christensen and Mining Audiences Manager Michael McCrae recorded Kitco Roundtable Christmas Special last week.The panelists looked back at the year that was and also looked forward to the next ten years. There were appearances by Sprott's CEO, Peter Grosskopf, and Wheaton Precious Metals CEO, Randy Smallwood.Other topics the panel...
2020-12-2449 minKitco NEWS RoundtableThe two storylines for gold: how it can head higher or drop lowerThe competing theories for gold heading higher or trending lower were explored on Kitco Roundtable on Friday. Andrew Cheatle, recently-appointed director of Tanzanian Gold (TSE:TNX), joined correspondent Paul Harris, editor Neils Christensen and Mining Audiences Manager Michael McCrae to record Kitco Roundtable podcast.Christensen said there are many reasons that gold will head higher. "Pretty much everybody's saying the same thing, which is unprecedented central bank and government stimulus policies across the globe," said Christensen. "Central banks and governments are pumping trillions and trillions of dollars into financial markets, and this is go...
2020-12-1851 minKitco NEWS RoundtableLots of deals despite soft precious metal pricesLots of deals despite soft precious metal pricesThere was a noticeable uptick in the number of deals in the junior space this week despite wobbly precious metal prices. George Salamis, president and CEO of Integra Resources, joined correspondent Paul Harris, editor Neil Christensen and Mining Audiences Manager Michael McCrae to record Kitco Roundtable podcast on Friday. Gold's momentum has slowed. The near-term sentiment in the gold market is mixed as the price runs out of momentum testing critical resistance around $1,850 an ounce according to the latest results of the Kitco News. Wall St...
2020-12-1152 minKitco NEWS RoundtableWhy Friday was the end of an era in miningColorful mining dealmaker, Ivan Glasenberg, will retire as the head of Glencore, the huge mining giant and one of the top 500 largest public companies in the world.Minining Audiences Manager Michael McCrae noted the change during Kitco Roundtable podcast, which was recorded on Friday. McCrae was joined by correspondent Paul Harris; editor Neils Christensen; and special guest Terry Harbort, CEO of Talisker Resources. Ivan Glasenberg joined Glencore in April 1984 and has been CEO since January 2002. Glasenberg led the deal that saw the $90 billion merger of Glencore with Xstrata in 2013. Glencore is one of...
2020-12-0551 minKitco NEWS RoundtableWhy silver will shine bright in 2021The good news about the development of a vaccine is hammering gold, said Kitco editor Neils Christensen.Christensen joined Mining Audiences Manager Michael McCrae and Marcel de Groot, co-founder and president of Pathway Capital, to record Kitco Roundtable podcast on Friday.This past week Bank of America reversed its position on gold and was turning from positive to neutral. In April, the bank made a big announcement and forecasted $ 3,000-ounce gold. Christensen covered the news."One of the first things [Bank of America] said is we're abandoning $ 3,000-ounce gold, and we're now neutral...
2020-11-2742 minKitco NEWS RoundtableWhy gold doesn't like normalWith markets looking past the disputed election and a stalled stimulus, editor Neils Christensen said gold is trending down in the short term. On Friday Christensen was joined by correspondent Paul Harris and mining audiences manager Michael McCrae to record Kitco Roundtable podcast. Special guest was Patricia Dillon, former president of the PDAC. Gold has been on the backfoot. This week saw massive gold-backed ETF outflows, which weighed on the precious metal. But the market held its ground at the critical $1,850 an ounce level and managed to end the week on a slightly more positive no...
2020-11-2135 minKitco NEWS RoundtableSpotted! Recent junior M&A activity that could turn into a sector waveAustralian M&A is heating up amongst the early-stage development companies, which could portend bigger deals worldwide, said Peter Akerley, CEO of Erdene Resources.On Friday Akerley recorded Kitco Roundtable podcast with correspondent Paul Harris; editor Neils Christensen; and mining audiences manager, Michael McCrae.Mergers and acquisitions have been muted due to senior miners being conservative. The companies are worried about excesses committed during the last upcycle, which ended up punishing the resource sector. COVID-19 travel restrictions have also made due diligence hard.However, Australian miner Aurelia Metals made news yesterday when it...
2020-11-1423 minKitco NEWS RoundtableM&A in gold space is still a few quarters out - Adam LundinMergers and acquisitions in the gold space are not likely to heat up until one to two quarters have passed, said Adam Lundin, CEO of Josemaria Resources (TSE:JOSE). On Friday Lundin recorded Kitco Roundtable podcast with correspondent Paul Harris; editor Neils Christensen; and mining audiences manager, Michael McCrae.Aside from running Josemaria, Lundin is also chair of Filo Mining, Africa Energy, and a director of the Lundin Foundation.The panel noted that the precious metal miners are filing some spectacular numbers with gold holding above $1,900 for most of the last quarter. This p...
2020-11-0743 minKitco NEWS Roundtable'The seniors are playing a defensive game' - Daniel EarleDuring a gold bull market, you need to go with growth, said Daniel Earle, CEO of Solaris Resources (CVE:SLS).On Friday, Earle recorded Kitco Roundtable podcast with correspondent Paul Harris; editor Neils Christensen; and mining audiences manager, Michael McCrae.At the 121 Mining Investment conference this past week, Earle noted comments from a mining CEO who said seniors need to be disciplined with their capital allocation during this up cycle and not go out and buy things at a high valuation."I think that that's a terrible mistake. I think the problem [during...
2020-10-3057 minKitco NEWS RoundtableWhy fourteen-day quarantines may be damaging to miners' healthFrequent quarantine stays could be hard on a miner's well being, warns the CEO of Fireweed Zinc, Brandon Macdonald. Macdonald joined Kitco correspondent Paul Harris; editor Neils Christensen; and mining audiences manager, Michael McCrae, to record a podcast on Friday.Macdonald noted that some miners travel outside of Canada for work then have to return to a 14-day quarantine with no access to a gym or recreation. Meals must be eaten in the hotel room. "So they're three-weeks on and two-weeks off. They come back to Canada and [start] a 14-day quarantine. Rinse an...
2020-10-1045 min