?? - Traceable Gold Bars?
CEO.CA Presents the Chairman's Briefing - October 17th, 2024
“My advice to you, my violent friend, is to seek out gold and sit on it."
― John Gardner
Metals/Crypto Price
In Partnership With
Stillwater Critical Minerals has demonstrated continuity of mineralization across 9.5 km of the 32 km Stillwater West project in the first ever 3D model of the Lower Stillwater Complex in Montana. The project is adjacent to Sibanye-Stillwater and hosts 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold with major expansion potential. The company is backed by Glencore’s 15% equity position and is pursuing US government funding opportunities available through the DoD and DoE at a time when the US is aggressively looking to reduce the secure domestic supply chains.
See full press release here.
Gold
After a strong September jobs report and a spike in consumer inflation forced markets to pare back expectations of a 50 basis point rate cut next month, gold continued to hold its ground, a clear indication that there's more underpinning the metal's momentum than a single monetary policy decision.
Over the past few months, corrections have been shallow... and they're getting bought as price weakness—any weakness—mobilizes buyers from the sidelines.
Those with a decidedly bullish view of this current trading action view the metal's recent consolidation as a welcome/necessary lull that will only serve as a springboard for an assault on new high ground.
According to the latest intel out of the World Gold Council, North American investors, having missed the early innings of this year's powerful rally, have been leading the rush into gold-backed exchange-traded funds.
World Gold Council analysts: “Lower opportunity costs, related to interest rates and the dollar, boosted investor interest in gold ETFs. Similar to prior months, the surging gold price not only attracted investor attention but also led to the exercise of in-the-money call options of major gold ETFs, creating sizable inflows at the expiry date. Rising geopolitical tensions in the Middle East during the month, we believe, also helped attract gold ETF inflows as investors sought a safe haven.”
Investors will be paying close attention to accumulation trends in the months ahead. With geopolitical tensions rising and US influence waning, foreign central banks, sitting on more than $8 trillion in US dollar reserves, might be more inclined to diversify away from the Greenback.
These central banks are also well aware that the U.S. federal deficit currently stands at an unprecedented $35+ trillion (the most recent estimate by the Congressional Budget Office for the Fiscal Year 2024 puts the annual deficit at an astonishing $1.8 trillion).
It seems some of these central bankers are eager to telegraph their intent - Central Bankers Make Rare Comments in Favor of Bigger Gold Stash.
In a break to that form, reserve managers from the central banks of Mexico, Mongolia and Czech Republic on Monday sang the praises of bigger holdings. The comments provided unique insight into how they are viewing bullion, with the officials saying that gold as a percentage of their country’s reserves is more likely to increase in the years ahead amid a confluence of growing geopolitical tensions and lower interest rates.
In Partnership With
Mines and Money @ Resourcing Tomorrow?will feature?100+ junior mining companies?across a range of commodities, including lithium, nickel, zinc, and rare earth metals, offering a broad investment landscape. Investors can discover opportunities by attending company presentations, engaging directly on the show floor, or using the bespoke meeting platform.
Qualified investors who invest directly in natural resources, energy, or technology sectors can apply for a complimentary Investor Pass to attend the event, taking place from?3-5 December?in?London.
Apply for a complimentary pass here:?https://hubs.ly/Q02H_DM40
U3O8
In yet another deal struck between Big Tech and Nuclear—a move to source emissions-free, 24/7 reliable energy sources to power its massive AI data centers—Google is backing a company that builds small modular reactors - Google Backs Buildout of Small Nuclear Reactors in Kairos Deal.
Aside from investing in the development of this next generation of nuclear power, Google has agreed to purchase energy once the sites start supplying US grids.
Google signed an agreement with Kairos Power to construct a series of so-called SMRs that use molten-salt cooling technology. The move is part of an effort to bring online new carbon-free electricity as the company builds out data centers in the next decade, said Michael Terrell, senior director of energy and climate at Google. Power supplies are expected to start between 2030 and 2035.
A strong case for greater reliance on nuclear (in regions where 'Nature Risk' is high)...
The Lake Placid Solar farm, located in Highlands County, Florida, suffered significant damage in the wake of tornados spawned by Hurricane Milton. The facility, only five years old, generates enough energy to power 12,000 households, when it's intact...
General Mining Sector News
Sticking with the nuclear theme, on the production front, two major forces in the U3O8 arena are looking to boost output in response to tightening (market) conditions.
Concerning the growing demand for nuclear power, Cameco's CEO, Tim Gitzel, cited the "best fundamentals I've ever seen for nuclear in my 40-year career" - Cameco eyes expansions of uranium mines on rising nuclear demand.
Without specifying which projects might be affected, Gitzel stated, "We've got some fantastic uranium ore bodies, and we're looking to extend and expand those where we can."
The recent shift in sentiment has triggered a satisfyingly steep trajectory in the bellwether stock...
领英推荐
France’s Orano is plotting new moves to expand operations too -?Orano boosts uranium mining and enrichment capacities as market tightens.
The state-controlled company is investing to prolong the life of mines in Canada and Kazakhstan, while exploring adjacent and remoter areas in those countries, chief executive officer Nicolas Maes told reporters Thursday. Orano is also developing new projects in Mongolia and Uzbekistan, while remaining “in monitoring mode” for potential acquisitions, he said.
CEO Mais went on to state:?“We have interest in diversifying our projects as there are some tensions in the East and in Africa. Questions over where uranium will come from in the next decade are pulling prices higher.”
Orano was dealt a blow earlier this year when the military junta In Niger pulled one of their mining permits. The company's other uranium mine in the West African nation will produce at just 40% capacity this year—production that can't be exported out of the landlocked African nation due to persisting geopolitical issues.
On the processing front,?Orano is looking at boosting its global market share of enrichment services from 12% to 16%, having broken ground on its French facility earlier this year.?To further fill that gap in enrichment as the West seeks to shift its reliance away from Russian supplies, the company is looking at building an enrichment plant in the US IF it can secure gov't support, regulatory approval, and enough customer commitments (the multi-billion-dollar facility could be built in Tennessee).
At 43%, Kremlin-controlled Rosatom is the world's largest enricher of uranium, followed by Urenco Ltd., a UK-Dutch-German group with a 31% share, and China National Nuclear Corp. with 13%.
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Artemis On Track For 1st Pour in Q4
Artemis Gold's (ARTG.V) Blackwater Project is nearly complete and on track for its maiden pour in Q4, despite construction delays - Artemis Gold Provides Update on Progress at Blackwater Mine.
Hailed as a tier-1 gold project, and one of the largest in the country, the mine is expected to crank out 500k gold equivalent ozs each year over the next decade, generating annual free cash flow of roughly C$500 million at an all-in sustaining cost of $712 per oz.
Proven and Probable reserves at Blackwater currently stand at 8 million ozs of Au and 62.2 million ozs of Ag.
The company is now hooked up to BC’s power grid, having completed the 135-kilometre 225kV transmission link.?Its tailings storage facility will be completed over the next two weeks in advance of ore commissioning.
The initial mining fleet has also been commissioned, and pre-stripping of the mine, as well as the construction of haul roads, are advanced, with first ore expected over the course of the next month.
As with most ambitious projects being pushed along the development curve in this inflationary environment, the projects Capex is now expected to run between C$780 and $800 million, roughly 7% higher than previous estimates of between C$730 and $750 million. The company says delays, due to two separate wildfires which hindered construction, are to blame for the higher price tag.
As a result, Artemis has entered an agreement with National Bank of Canada to provide additional standby funding of up to C$65 million. This funding is in addition to the company’s existing project loan facility of C$360 million, as well as a cost overrun facility of C$40 million that was drawn in earlier this month.
Artemis CEO Steven Dean: “The additional standby funding provided by one of the company’s existing relationship lenders provides us the financial flexibility to absorb the financial impact of these events, while managing project schedule targeting first gold pour in late Q4 2024 and ramp-up of operations beyond,” Artemis CEO Steven Dean said in a news release.
B2Gold Takes a Piece of Founders?
Highlighted in these pages earlier this year, Founders Metals (FDR.V) has been one of the junior arenas better performers over the past twelve months as the company advances its district-scale?Antino Gold Project in southeastern Suriname with the business end of the drill bit.?
Along with a recent $20 million bought deal raise, the company inked a deal with B2Gold (BTO.TO) for an additional $12.1 million - B2Gold Invests C$12.1 Million in Founders Metals.
B2Gold is paying $2.75 for each of its 4.4 million shares (Founder's all-time high is $3.13, printed just two months back), giving the producer a 9.9% stake in the Suriname-focused?exploreco.
Colin Padget, Founders' CEO: "This broader financing package leaves Founders well positioned to ramp up exploration at Antino, fully funding our planned 2025 exploration budget and the near-term addition of a fourth diamond drill."
Adding validity to the potential of this highly prospective project—recent drill hole assays include 15.5 meters of 30.72 g/t Au and 38.0 meters of 10.90 g/t Au—the company recently appointed Chris Taylor, of Great Bear Resources fame, to its board as an independent director - Chris Taylor Joins Founders Metals as New Director.
Mr. Taylor: "I've been following the Founders story with interest for several months, as their team has executed a highly technical and successful series of proof-of-concept and discovery holes at the Antino project. Their methods and successes are reminiscent of the early days at Great Bear, and I am pleased to be able to lend my experience to their Board as they progress Antino through increasing scope of work and broader market awareness."
Hits Of the Week
With Alamos Gold’s (AGI.TO) $325-million all-share acquisition in July of Argonaut Gold and its Magino mine in northern Ontario, Canada’s third-largest gold producer is on track this year to churn out between 550,000 and 590,000 oz of gold. The open pit Magino mine, just 300 metres from Alamos Gold’s Island Gold underground mine, and about 83 km northeast of Wawa, will contribute 40,000 to 50,000 oz gold this year, or a 13% increase in the company’s consolidated production and a more than 20% increase in 2025 and 2026 - JV Article: Alamos Gold builds a tier-one asset, complementing its low-cost growth profile
Newmont Corporation and MKS PAMP partner to offer consumers a traceable gold bar exclusively made with Newmont-mined gold, refined and minted by MKS PAMP in Switzerland – powered by Provenance?. The mine-to-market traceable PAMP 1oz Lady of Liberty gold bar is available at the largest U.S. wholesaler, making owning gold an accessible option for wealth building -?Newmont and MKS PAMP Partner to Launch Mine-to-Market Traceable Gold Bar at the Largest U.S. Wholesaler
Rio Tinto’s $6.7 billion buyout of Arcadium will give it a suite of lithium filtration technologies that are poised to revolutionize how the metal is produced for the electronics and electric vehicle industries. Arcadium’s expertise in so-called direct lithium extraction (DLE) is the real prize for Rio, analysts said, and vaults it into contention with Eramet, Sunresin, Exxon Mobil and others aiming to make the technology commonplace in coming years - Rio Tinto’s real prize: Arcadium’s lithium extraction technology
New laboratory data confirm the potential for geothermal’s holy grail: tapping into the superhot, superdeep rock miles below our feet, which could create a clean, renewable energy source capable of replacing a significant amount of the fossil fuels associated with global warming? -?Superhot, superdeep rock miles below could create a clean, renewable energy source — report
The word "fungus" doesn't typically suggest something of high value, but a hybrid caterpillar fungus that lives in and kills caterpillars can sell for up to three times its weight in gold. This carnivorous fungus is the world's most expensive parasite, and it only appears for a couple of weeks each year in remote parts of Nepal, India, Tibet, and Bhutan -?The most valuable substances on the planet today
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