~*~Mining and Metals Du Jour~*~

[JD400]

Scum Bag Bankster of the Day

US-based Capital Group sells Fortescue shares worth $489 million

Reuters | June 19, 2024 | 7:30 am Top Companies Africa Iron Ore
Fortescue founder and executive chairman, Andrew Forrest. (Image by the World Economic Forum, Flickr)
US-based investment management firm Capital Group Companies has sold shares worth A$733.9 million ($488.78 million) in Australian miner Fortescue, according to an exchange filing on Wednesday.


The announcement came after the Australian Financial Review reported on Tuesday that an institutional investor had sold off a A$1.1 billion stake in billionaire Andrew Forrest-led Fortescue after the close of trade on Monday.


Capital Group Companies and affiliated entities pressed sell on 31.6 million shares in the miner on Friday, the filing showed.

The price at which the shares were sold is not clear. However, they are estimated to be worth about A$733.9 million based on Fortescue’s Friday close of A$23.2.

Capital Group declined to comment on the sale price and the rationale behind the sale when Reuters contacted.

Shares of the world’s fourth-largest iron ore miner have fallen nearly 25% so far this year, given weakening iron ore prices amid subdued demand in top steelmaker China.

Fortescue has also seen a high turnover of senior management amid a push to turn itself into a green energy company.

($1 = 1.5015 Australian dollars)

(By Roushni Nair and John Biju; Editing by Subhranshu Sahu)

https://www.mining.com/web/us-based-capital-group-sells-fortescue-shares-worth-489-million/

The Entire Mining Sector is being Killed by Banks !

[JD400]

Russian Economy COLLAPSING After Banks Start Closing; MAJOR Crisis | Breaking News With The Enforcer

Jun 13, 2024
Today, we learn that Russia is experiencing an unprecedented banking collapse after thousands of Russians try to withdraw their money causing banks to close. The Russian stock market has entered an economic freefall following the new US sanctions on the Moscow Stock Exchange. We also learned that a U.S. Nuclear Submarine has arrived in Cuba to meet the Russian flotilla which is currently docked in Havana Port. We also heard that the United States signed a new security agreement with Ukraine to ensure their national defense. Finally, we also heard that Russia has begun installing temporary air-raid shelters in Belgorod due to a massive uptick in Ukrainian attacks on the Russian mainland. Please like and subscribe for more daily war updates!

[JD400]

Russian Bombers DESTROYED, Moscow Stock Exchange SHUTS DOWN | Breaking News With The Enforcer

Looks like Russia bout to bug out. Their stock market did'n't even open today. Don't know what this will do for metal markets.

[douginil]

Thanks starboy. That is scary. I think the most important comment is::

Even scarier, the Dodd-Frank Wall Street Reform and Consumer Act passed by Congress in 2010 eliminated the option of bank bailouts, but opened the door for bank bail-ins. Simply put, bail-ins means the banks can confiscate your deposits if they run into financial trouble.

This may even apply to stocks certiicates in broker accounts but actually are stored in your brokers name.

[starboy]

In honor of the Cork, RIP, and look out below for the US Dolllar and other fiats. At least read the sum up at the end...
https://frankgiustra.com/posts/why-the-u.s-is-heading-for-hyperinflation-and-what-will-happen-when-it-arrives/

[JD400]

Inside Job (2010 Full Documentary Movie)

Dec 20, 2020
Inside Job is a 2010 American documentary film, directed by Charles Ferguson, about the late 2000s financial crisis.

The global financial meltdown that took place in Fall of 2008 caused millions of job and home losses and plunged the United States into a deep economic recession.

This documentary provides a detailed examination of the elements that led to the collapse and identifies key financial and political players.

Director Charles Ferguson conducts a wide range of interviews and traces the story from the United States to China to Iceland to several other global financial hot spots.

Ferguson, who began researching in 2008, says the film is about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption". In five parts, the film explores how changes in the policy, environment and banking practices helped create the financial crisis.

Timestamps

0:00 - Deregulation in Iceland and privatization of banks
12:05 - Part I - How We Got Here
31:02 - Part II - The Bubble (2001-2007)
57:04 - Part III - The Crisis
1:17:23 - Part IV - Accountability
1:33:33 - Part V - Where Are We Now

[JD400]

Become a Nudist Stop Mining !

Rob explains well how his own institutional bank investors ruined the face of mining through price manipulation but of course can't admit it.

traders have become numb to the bankster

Mining CEO's are Hog-Tied' to their institutions who control their stock.

MCEWEN MINING | RCTV Interview at SME New York 2024
May 28, 2024
Rob McEwen, Chair and Chief Owner, McEwen Mining joined RCTV live from the floor at SME's Current Trends in Mining Conference in New York City with host, Mark Bunting to address the most recent events, the company's shares, which have increased by 34% in the last year, and the all-time high in gold.

[copytele]

AU https://www.youtube.com/shorts/qUs2q4JLfvo

[JD400]

Hey man good to see you and everybody. My vacation is ending so I'll be back reporting.

That Alaska crisp cool water sounds pretty good our 110s temps have arrived here in the desert old pueblo,

I see copper trying to find itself and golds completely discombobulated trying to hang on to it's recent highs.

Although your link did not work for me I hope you guys are getting a good recovery up there 🙂

Column: Funds keep faith with copper even as squeeze fades

Reuters | June 4, 2024 | 9:46 am Intelligence Markets Europe USA Copper

The vicious squeeze on the CME copper contract appears to have largely passed but fund managers are sticking with their bullish convictions on both US and London markets.


There has been some light profit-taking as the price has retreated from last month’s record highs but fund long positioning remains elevated both on the CME and London Metal Exchange (LME).

The money surge into copper is part and parcel of a broader rotation of funds into the base metals sector but copper’s super-charged rally to a CME peak of 5.20 cents per lb and an LME high of $11,404.50 per ton has made it the star attraction.

However, Doctor Copper’s new investor friends may find their bullish resolve tested in the days ahead.

With the short-covering momentum on the CME contract now abating, fund longs are left waiting for fundamentals to catch up with their price expectations.
Fund positioning on the CME copper contract

Long and strong

Fund managers trimmed their long positions on the CME copper contract by 7.4% over the week to May 28, according to the latest Commitments of Traders Report (COTR).

However, bets on higher prices amounted to a hefty 128,344 contracts, which is still the largest bull commitment since January 2018.

The net collective long position is lower at 63,787 contracts. There has been no short capitulation. Indeed outright money manager short positions edged up by 2.0% to 64,557 contracts.

However, it’s clear that the bulk of the recent investment flow remains sitting on the long side of the market.

The situation is similar in London, where the record investment long position shrank only marginally in the week to May 20. At 105,262 contracts, it is still by some margin higher than anything seen since the LME launched its own COTR in 2018.

Squeeze dissipates

The upwards price momentum has faded as the CME squeeze has steadily dissipated, LME three-month metal currently consolidating just above the $10,000 level.

There remain pockets of tightness across nearby CME time-spreads but the immediate panic appears to be over and the cash premium over the London contract has shrunk from over $1,000 per ton in the middle of May to around $250.

Short positions have either been covered or rolled with a view to delivering physical copper.

The explosion in the arbitrage with the LME is expected to draw metal to CME warehouses in the United States.

Some 100,000 tons of copper are reported to be on their way, although nothing has yet arrived.

CME registered stocks fell another 2,256 short tons last week to a six-month low of 16,607 tons.


Chinese glut

Outside of the United States, though, copper stocks have been building.

LME headline inventory has edged up from an early-May low of 103,100 tons to a current 116,000 tons. The ratio of metal awaiting physical load-out has shrunk from 20% at the start of May to just 5%, or 6,025 tons.

The stocks build in China has been more pronounced.

Shanghai Futures Exchange warehouses hold 321,695 tons of copper, the most since April 2020.

This year has seen the usual seasonal surge around the Chinese New Year holidays but not the usual post-holiday decline. Stocks have simply continued climbing, up another 20,731 tons over the course of last week.

Local data provider Shanghai Metal Market estimates bonded warehouse stocks have also risen from under 10,000 tons at the start of the year to 76,000 tons.

Clearly, no-one is short of copper in China right now.

Waiting game

Copper’s recent rally to all-time highs has been accompanied by a profusion of headlines about the lack of supply growth relative to strong energy-transition demand.

The bull narrative has spread far beyond the closeted world of industrial metal traders to the retail investment crowd.

Fear of missing out has played its part in the buying frenzy and it’s understandable given the ever higher price forecasts being bandied around.

Hedge fund manager Pierre Andurand has grabbed the super-bull crown, telling the Financial Times he expects copper to nearly quadruple in price to $40,000 over the coming years.

It’s worth stressing the extended time-frame around that prediction because right now copper dynamics don’t look quite so bullish.

The extent of the stocks build in China is a major discrepancy in copper’s bull narrative.

The country is the world’s largest buyer of the metal but shows every sign of entering a de-stocking cycle in response to the recent price surge and still-stuttering demand.

Bullish fund managers may face a tense wait for supply-chain reality to catch up with copper’s elevated price.

(The opinions expressed here are those of the author, Andy Home, a columnist for Reuters.)

(Editing by David Evans)

https://www.mining.com/web/funds-keep-faith-with-copper-even-as-squeeze-fades/

[copytele]

IN THE WATER IN NOME ALASKAhttps://mail.google.com/mail/u/0/?pli=1#inbox/FMfcgzQVwwxWDPZmQLLNGPSdfbbqRbKr?projector=1&messagePartId=0.1

[JD400]

A Brutal 4 Day Hike Into California’s Lost Mining Towns

[JD400]

15 year weekly gold and silver charts

[Alexulf]

Romania Government Align Mining Legislation to EU 's Critical Raw Materials Act

https://crweworld.com/article/news-provided-by-globenewswire/3364861/romania-government-announces-strategy-to-align-mining-legislation-to-the-eu-s-critical-raw-materials-act

https://www.eurosunmining.com/

BULLISH

[JD400]

Silver $30.36 Sinking deeper than those squirrel teeth going thru a finger.

Human Bite force 500 psi
Grizzly bear Bite force 1200 psi
Gorilla Bite force 1300 psi
Jaguar Bite force 2000 psi
Hippopotamus Bite force 1825 psi
American alligator Bite force 2125 psi
Saltwater crocodile Bite force 3690 psi
Nile crocodile Bite force 5000 psi
Squirrel Bite force 7000 psi

and the Arizona Dbacks Bit the Dodgers last night too boot

hehe

[JD400]

$SNGCF Presentation: Sanu Gold - 121 Mining Investment Cape Town Feb 2024

Feb 29, 2024
Sanu Gold is a publicly traded exploration company focused on a portfolio of highly prospective gold projects in Guinea, West Africa’s Siguiri Basin.

West Africa is the number one gold mining region in the world and Guinea’s Siguiri Basin is a prolific, yet underexplored part of this region. Despite being home to both long-lived multi-million ounce gold mines and recently commissioned gold mines, Guinea’s Siguiri Basin continues to produce important new gold discoveries.

Sanu Gold has defined multi-kilometer long gold-bearing structures on each of its three exploration permits and is targeting near-surface multi-million ounce gold discoveries. Initial drill programs on the first two permits drilled have yielded high-grade gold discoveries. The company is operated by a highly experienced team, with successful records of discovery, resource development and mine permitting across West Africa.

Primary tickers: CSE:SANU, OTCQB:SNGCF
Stage of development: Exploration
Primary mineral: Gold
Project to promote: Bantabaye
Project location: Guinea, West Africa
Website: www.sanugoldcorp.com

This was recorded at our 121 Mining Investment Cape Town event from 5-6 February 2024. For more information about the event and those who participated, click here: https://www.weare121.com/121mininginv...

[starboy]

Ouch! So sorry to hear that, JD. Tough outcome when trying to be helpful...Be patient with your healing.

Watching the Dodgers over here. Duke Snider was my hero, so I go way back.

Silver at 32.01 as I type.

Will always be profit taking on the way up, or even down, as I suspect the computer algorithm traders play the moves either way.

Did you check out Clive Maund's article on SANU? The potential buyout may be the most interesting aspect of this one.

https://www.streetwisereports.com/article/2024/05/08/expert-says-now-is-a-good-time-to-buy-this-gold-stock.html

[JD400]

Silver $32.72 HOY

Hoy Boy ! hehe

Copper verge of 5.20 high also at 5.10 intra now.

Nursing a partial torn rotator cuff tear in my left shoulder and a vicious squirrel bite on my right hand.

Strange as it sounds trying to help a hurt squirrel I picked him up and he bit me and would not let go.

I didn't know they had a 7,000 psi bite As I felt his teeth meet in the middle of my finder bone and just lock there it was terrible .

With my left hand it took all my might squeezing between the squirrels mouth trying to pry his teeth out of the finger took around a full minute.

All I got to say now is "Thank God for Baseball" hehe Be watching many games

take care

[starboy]

SNGCF Sanu Gold Corp. https://www.streetwisereports.com/article/2024/05/08/expert-says-now-is-a-good-time-to-buy-this-gold-stock.html A Clive Maund article with multiple graphics from the company's website,

[JD400]

AG $31.84~

[JD400]

“The Evolution of Money” Robert Kiyosaki - LFTV Ep 172

May 10, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined by world-renowned “Rich Dad, Poor Dad” author, Robert Kiyosaki. Andrew and a returning Robert discuss the changing global economy and how to preserve wealth.

The precious metals experts examine massive, ongoing Indian & Chinese silver demand and delve deeper into the sound money movement, before proclaiming the Kinesis ecosystem to be the evolution of money.

Check out Robert Kiyosaki:
https://www.richdad.com/


/ therealkiyosaki


/ @therichdadchannel

Ask your questions for Andy here: https://forum.kinesis.money/forums/qu...

Timestamps:
00:00 Start
03:45 Protecting your wealth - is it too late?
05:30 How the Fed scam works from Robert’s perspective
07:30 Silver to $500?!
13:30 2000 tonnes of Indian & Chinese silver orders
18:30 How the rising price of oil might impact - or implode - the system
25:00 Hypothetcation & Rehypothecation explained
29:00 The US Sound Money Movement & Kinesis
37:00 Storing gold and education
40:00 Kinesis - NO storing fees and NO minimum amount of gold to store?
46:45 Can you spend gold through Kinesis? YES
51:00 The Evolution of Money
54:30 Will Kinesis put gold dealers out of business? NO
56:00 What about referrals?
66:00 Doing the right thing
71:00 Money printing is all the Fed knows how to do

[Pro-Life]

$Silver knocking on the door of $29.00/oz.

[Pro-Life]

Gold's 2 day climb is a canary in a coal mine.

[Pro-Life]

Gold/Silver Ratio. --- 83.39

[JD400]

Two top McEwen Mining execs step down
Cecilia Jamasmie | May 6, 2022 | 6:05 am Careers News Canada Copper Gold
Two of McEwen Mining top execs step down
The Los Azules copper project sits in the Andes Mountains at an elevation of 3,500 metres. Credit: McEwen Mining.
Canada’s McEwen Mining (TSX, NYSE: MUX) on Friday announced that two of its top suite executives were leaving the company for personal reasons.

Chief financial officer Anna Ladd-Kruger will retire to focus on her health and family, the company said. She will depart after reporting is complete and an “orderly transition” is in place.

Perry Y. Ing, former McEwen CFO who had the same role at Kirkland Lake Gold and Mountain Province Diamonds, will assume the post on an interim basis.

Chief operating officer Peter Mah is also stepping down for personal reasons effective June 3, McEwen said. His responsibilities will be assumed on an interim basis by William (Bill) Shaver, currently the company’s director.

The Toronto-based miner said that transition plans and a search for candidates for both roles are underway.

“The focus of the company going forward is on stabilizing its operations after a challenging period, divesting certain assets, and advancing our most significant value driver, the giant Los Azules copper project,” McEwen said in a statement.

$MUX had much bigger news this morning

Argentina power supplier Central Puerto eyes stake in McEwen’s copper project
Bloomberg | May 6, 2024 | 6:47 am Latin America Copper
Two of McEwen Mining top execs step down

Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter.


After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is committed to getting involved in a second mining venture, according to one person, who like others didn’t want to be named discussing private negotiations. The company is eyeing Los Azules as well as other gold and silver sites.

Los Azules, in San Juan province, is one of several Argentine copper projects in different stages of development that could turn the country into a major supplier of the wiring metal in a decade. McEwen wants to start construction of its open pit in 2026, but first it is seeking a capital injection of $130 million to keep exploration work on track.

Billionaire Eduardo Eurnekian’s group, Corporacion America SA, has also been looking at Los Azules, according to people familiar.

Central Puerto produced 15% of all of Argentina’s electricity last year, more than any other company, according to its annual report. It continues to spend on new power plants, but has also been diversifying its commodities portfolio with investments in forestry and, now, mining. About 27% of the company is owned by a handful of wealthy Argentines — Guillermo Pablo Reca and Eduardo Jose Escasany, from the banking industry, and the Miguens Bemberg family led by Carlos Jose Miguens, who already has mining interests.

The power supplier’s incursion into mining comes amid a broader push by local outfits. Recent investment activity by Argentines includes real-estate mogul Eduardo Elsztain’s purchase last month of a stake in a gold project; Jose Luis Manzano’s winning offer to revive a former Vale SA potash site, a tender in which Corporacion America also bid; and moves into lithium by three national oil drillers.

Argentina shares vast mineral resources in the Andes with Chile, the world’s biggest copper exporter. But a mix of unpredictable politics and environmental opposition has prevented Argentina from unearthing many resources on its side of the mountains.

President Javier Milei, who took office in December on a platform to open up business, is seeking legislative approval for tax, currency and customs benefits for big, long-term investments like mining projects. Milei also wanted to scale back protections for glaciers, which impede some exploration in the Andes, but scrapped the plans as part of a bid to make his aggressive reforms more palatable.

https://www.mining.com/web/argentina-power-supplier-central-puerto-eyes-stake-in-mcewens-copper-project/

https://www.mining.com/two-of-mcewen-mining-top-execs-step-down/

[JD400]

The Parable of the Mexican Fisherman and the Banker

with MMGYS soundtrack

An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.

The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them.

The Mexican replied, “Only a little while.”

The banker then asked why he didn't stay out longer and catch more fish?

The Mexican fisherman replied he had enough to support his family's immediate needs.

The American then asked “But what do you do with the rest of your time?”

The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, señor.”

The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat you could buy several boats until eventually you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”

Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”

The Mexican fisherman asked, “But señor, how long will this all take?”

To which the American replied, “15-20 years.”

“But what then?” asked the Mexican.

The American laughed and said, “That's the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”

“Millions, señor? Then what?”

To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

https://www.financialmentor.com/true-wealth/the-parable-of-the-mexican-fisherman-and-investment-banker/2422

Cinco De Mayo- WAR

[JD400]

BRICS - who’s behind the curtain - LFTV Ep 171

May 3, 2024
In this week’s episode of Live from the Vault, Andrew Maguire guides viewers through the community’s inquiries regarding the short, medium and long-term prospects for physical gold prices.

The seasoned precious metals expert unveils the behind-the-scenes manoeuvres influencing gold and silver markets, providing insights into the forthcoming BRICS currency, and offering a glimpse into what lies ahead.

Ask your questions for Andy here: https://forum.kinesis.money/forums/qu...

Timestamps:
00:00 Start
02:05 BRICS currency update
08:15 Forced Basel III NSFR compliance coming to a head?
14:30 How has the Bank of International Settlements (BIS) viewed the recent price breakout?
19:50 The physical market is driving these changes
24:40 What Andrew is seeing in the markets for the short-term

[JD400]

Choosing Mining Stocks Through The Eyes Of The Beer-holder

Powells dovish speech Bounced stocks today but only offered a Wash and Rinse at the end of day. Yippie

MARKET MOVERS
COMPANY +CHANGE% LAST TRADE
Franco-Nevada + 1.87 1.13% $167.59
Cameco 1.75 2.79 $64.56
Agnico Eagle Mines 1.23 1.41 $88.41
Wheaton Precious Metals 1.13 1.58 $72.85
Contango ORE 0.79 3.79 $21.66
Royal Gold 0.72 0.60 $120.85
Sigma Lithium 0.60 4.18 $14.97
Artemis Gold 0.48 5.35 $9.45
AngloGold Ashanti 0.48 2.09 $23.47
Patriot Battery Metals 0.36 5.40 $7.03
Energy Fuels 0.34 4.77 $7.47
Alamos Gold 0.34 1.68 $20.59
Atlas Lithium 0.30 2.04 $15.00
NexGen Energy 0.26 2.48 $10.74
Skeena Resources 0.26 4.00 $6.76


HIGH VOLUME
COMPANY VOLUME LAST TRADE
Gabriel Resources 68,389,415 $0.01
Uranium Energy 11,138,357 $6.83
Red Pine Exploration 11,093,110 $0.08
Calibre Mining 7,723,677 $2.06
Jervois Global 5,561,533 $0.02
Lundin Mining 4,206,432 $15.35
New Gold 4,120,381 $2.61
Kinross Gold 3,851,025 $8.95
Anfield Energy 3,540,316 $0.08
Ivanhoe Mines 3,306,122 $18.60
Capstone Copper 3,218,048 $9.40
Alphamin Resources 2,827,418 $1.19
First Quantum Minerals 2,630,107 $17.29
NexGen Energy 2,596,112 $10.74

[JD400]

Iron ore price posts best monthly gain since June 2023
Reuters | April 30, 2024 | 5:09 am Markets China Iron Ore

with MMGYS Soundtrack

Iron ore and steel futures fell on Tuesday amid risk-off sentiment ahead of a Chinese public holiday, but most contracts posted monthly gains on the back of better demand outlook from the property sector.

The most-traded September iron ore on China’s Dalian Commodity Exchange (DCE) closed down 0.1% at 874 yuan ($120.65) per metric ton. Still, it rose 16.6% this month, the best gain since June 2023.

The benchmark May iron ore on the Singapore Exchange was down 0.6% at $116.50 a ton at 0706 GMT. The contract has gained 16% gain so far this month.

Markets in China, the world’s biggest steel consumer, will be closed for a public holiday during May 1-3.

“Today is just some risk-off prior to holidays, which is very normal for a pullback in ferrous,” said a trader.

Outlook for the ferrous sector is neutral to slightly bullish due to China’s latest move to boost infrastructure spending, the trader said, adding that continued expansion in manufacturing activity also lent some support.


China’s state planner said last week it would guide local governments to accelerate the progress of project construction, a sector that consumes a large amount of steel products.

“(However) developers have not started bidding up land parcels like they’ve used to and steel consumption, in general, has not matched previous years’ strength,” the trader said.

There is also caution for seasonally lower Chinese steel consumption in summer where the hot and wet summer slows construction activities, the trader added.

Steelmaking ingredients coking coal on the DCE fell 0.2% to 1,806 yuan a ton, while coke edged up 0.2% at 2,355 yuan.

Steel benchmarks on the Shanghai Futures Exchange (SHFE) all fell.

SHFE rebar ended down 0.4% at 3,656 yuan a ton, hot-rolled coil eased 0.3% to 3,804 yuan, wire rod tumbled 5.7% to 3,500 yuan and stainless steel lost 0.1% to 14,280 yuan.

($1 = 7.2442 yuan)

(By Mai Nguyen; Editing by Varun H K and Sohini Goswami)
https://www.mining.com/web/iron-ore-price-posts-best-monthly-gain-since-june-2023/

[JD400]

A decade of pain and three months of 'beautiful times' - Steve de Jong on mining's long cycles

Apr 23, 2024 Kitco Mining Interviews
Resource investors are living in the "best environment", noted Steve de Jong, CEO of VRIFY.

Last week Jeremy Szafron, anchor at Kitco News, interviewed de Jong.

De Jong discussed the impacts of high commodity prices on mining equities, the complexities surrounding mining permits, and potential increases in mergers and acquisitions.

The metal sector has been on an upswing with gold hitting several all-time highs in 2024 and copper prices rallying. De Jong noted that the cycles are long.

"Those of us been in the sector for enough years...you get three months of beautiful times and then 9 3/4 years of absolute pain," said de Jong. "Last year was just another one of those years. I'm an internal optimist. You have to be in this sector, but seeing these commodity prices take off...you hear a lot of chatter about how come the equities aren't reacting to the commodity prices. To me that's the best environment in the world because that is your opportunity. The upside is shrinking by the moment," said de Jong.

VRIFY is a technology platform that helps resource companies present their businesses. VRIFY, which is based in Vancouver, serves over 130 clients across 70 countries, including mineral exploration companies Southern Cross Gold and Integra Resources, as well as major mining companies Teck and Kinross Gold. Last year the company announced a $6 million series-A raise.

Prior to VRIFY, de Jong was president and CEO of Integra Gold, a Quebec-focused resource exploration company focused on advancing the Lamaque Gold Project. De Jong led the business from a C$10 million valuation in 2012 to a C$590 million acquisition by Eldorado Gold Corporation in 2017. The Lamaque Gold Project is now a fully operational mine which produces approximately 200,000 ounces of gold per year and employs more than 400 people from the local community.

The conversation also covered how technological advancements are reshaping exploration and investment within the mining industry, offering insights into the macro-outlook for 2024 amid rising metal prices and evolving market dynamics.

0:00 - Introduction and State of the Mining Sector
02:15 - High Commodity Prices and Their Impact on Equities
04:07 - Retail Interest and Investment Trends in Mining
06:01 - Permitting Risks and Political Impacts on Mining
08:06 - Technological Advancements and Efficiency in Mining
10:21 - The Future of Mining Exploration with AI and Tech
13:06 - Mergers and Acquisitions: Current Landscape and Predictions
16:28 - Closing Remarks and Outlook for 2024

[JD400]

You need to protect your wealth NOW Feat. Andy Schectman - LFTV Ep 170

Apr 26, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined by Andy Schectman, President of Miles Franklin. The precious metals experts juxtapose the current physically-driven bull run with their long histories of financial education.

Revealing some surprising facts and statistics, Andy Schectman revisits past statements that may foreshadow the future of gold and silver. But amidst these revelations, he sounds the call: the time to safeguard your wealth is now.

Timestamps:
00:00 Start
02:40 Recent silver price action
08:15 A look at Andrew’s 20+ year history
15:00 The military application of silver and its affect on supply & demand
21:30 The Fed has been trapped for over 20 years
27:00 Historical statements by the chairman of the Shanghai Gold Exchange
34:00 BRICS currency update
42:30 What’s happening with the United States
51:00 Protecting wealth

[JD400]

Navigating net zero: can miners meet their emission reduction targets?

Many major miners have set net-zero targets for 2050 but some are unlikely to meet their ambitious interim targets. We look at progress and challenges on mining’s decarbonisation journey.

Kit Million Ross
April 19, 2024

with MMGYS Soundtrack

With climate change on everyone’s mind, emission reduction targets have become a major focus of every sector, but especially within the mining industry. The world’s biggest mining companies have set their sights on ambitious net-zero targets by 2050. However, as the deadline draws ever closer, concerns have arisen regarding the progress of these plans, with some companies even admitting they will likely miss short-term targets.

When added to reports of challenges around transparent and accurate reporting, especially with scope 3 emissions, the industry finds itself at a critical juncture, grappling with the need to balance environmental responsibility with profit and efficient operation.

Here we delve into the landscape of emission reduction efforts within the mining sector, assessing the status of companies’ targets, identifying the challenges facing the industry, and exploring the measures being undertaken to decarbonise operations. It’s time we answered the question: what steps must we take to hit net-zero targets by 2050?

While many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025.

Mining companies’ progress toward net-zero targets

Numerous industry giants have pledged to achieve net-zero emissions by 2050, signalling a collective commitment to mitigating climate impact. However, while many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025. This discrepancy underscores the complexities inherent in transitioning towards sustainable practices within a traditionally carbon-intensive industry.

However, it is important to take this with the relevant context in mind; the target itself is ambitious, aligning with the UN’s stretch goal of limiting warming to 1.5°C, and compared with other mining companies, Rio Tinto has a much higher percentage of its emissions coming from processing. Around 80% of Rio Tinto’s emissions come from processing, according to its 2023 climate change report, and processing is much harder to abate than other mining areas such as transport or sorting.

BHP has also set ambitious targets for its emissions reductions across all scopes, with a target of a 30% decrease in scope 1 and 2 emissions from 2020 levels by 2030, and a goal of net-zero operational emissions by 2050. However, there is one concerning factor hidden in the small print of BHP’s decarbonisation strategy: the company counts carbon credits in calculating its overall emissions.

Carbon credits, also known as carbon offsets, are a way of mitigating or offsetting the impact of one’s emissions by investing in climate protection projects such as planting trees. They have become wildly popular among major companies, particularly in hard-to-abate sectors such as mining – BHP is far from the only mining company to use them – but many environmental activists have criticised the use of carbon credits as a greenwashing tactic.

Many consider carbon credits as being a ‘free pass’ that allows polluting industries to appear to tackle their emissions while functionally doing nothing, and while this debate could fill an entire article by itself, it does lead well into another question: are companies being upfront enough about how they report their emissions?

The challenges of transparency in reporting emissions

Transparency in reporting remains a huge concern surrounding the mining sector’s emission reduction efforts. While many, if not all, of the major players have set ambitious targets for lowering their emissions, the lack of standardised reporting frameworks and inconsistencies in data disclosure pose a significant problem as the industry tries to assess its progress accurately. Put simply, the issue is this: how can the industry do better if we don’t know where we are starting from?

It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.

The International Council of Metals and Minerals (ICMM) is working to improve reporting standards among its members, particularly in regards to scope 3 emissions, which are regarded as some of the hardest to track. In December 2023, the ICMM released a document entitled Scope 3 Emissions Target Setting Guidance to assist decision makers at its member companies – who collectively represent a third of the global metals and mining industry – in setting clear, standardised targets for the reduction of scope 3 emissions.

The guidance laid out in this document is long and complex, and the application of it will vary between individual mining companies and operations. However, alongside a more detailed document published in September 2023, it is useful in providing a framework.

It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.

As Rohitesh Dhawan, president and CEO of ICMM, said in an article published by the World Economic Forum: “A company or indeed an entire sector could wring its hands at the emissions outside of its control and make it someone else’s problem – which, technically, it is. But collectively, we would lose the climate change war because total emissions would continue to rise unsustainably.”

He added that collaboration between different parts of the value chain is key to reducing scope 3 emissions, calling this a “far better approach” to decarbonisation than solo efforts, noting that a collaborative approach “makes climate sense, and it increasingly makes business sense, too”.

However, it is worth taking this progress with a pinch of salt, and consider the context of this development. While ICMM members are required to have set short and medium-term goals for the reduction of scope 1 and 2 emissions, there is no such requirement for scope 3 emissions, meaning that for the time being, major mining companies have more opportunity to look the other way when it comes to these kinds of emissions.

Increased pressure from the ICMM, as well as increased pressure from government representatives, is a key factor in reducing scope 3 emissions and their immense harm to the climate.

Can we make it?

The journey towards emission reduction and net-zero targets in the mining sector is one of slow, steady progress and significant challenges. While many companies have taken huge strides towards their sustainability goals, concerns surrounding reporting transparency and the slow pace of change persist.

By embracing innovation, collaboration and regulatory support, the industry is poised to overcome these hurdles and pave the way towards a more sustainable future. As we navigate the path towards 2050 net-zero targets, the importance of collective action and genuine commitment to emissions reductions has never been more visible.

Only through concerted efforts and shared determination can the mining sector realise its potential as a driving force for positive change in the fight against climate change.

https://www.mining-technology.com/features/navigating-net-zero-can-miners-meet-emission-reduction-targets/

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[JD400]

Biden-Harris Administration Announces First Projects Receiving Clean Energy Manufacturing Investments in America's Industrial and Energy Communities

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APRIL 19, 2024
Energy.gov Biden-Harris Administration Announces First Projects Receiving Clean Energy Manufacturing Investments in America's Industrial and Energy Communities
President Biden’s Investing in America Agenda Supports New Projects Building Grid Transformers, Manufacturing EV Chargers and Solar Components, and Processing Critical Minerals, Helping Revitalize Local Economies with Clean Energy Jobs

WASHINGTON, D.C. — The U.S. Department of Energy (DOE) today released details for 35 projects across 20 states that voluntarily shared with DOE they received a total of $1.93 billion in allocations of the Qualifying Advanced Energy Project Credit (48C). 48C is an allocated tax credit funded by President Biden’s Investing in America agenda through the Inflation Reduction Act, aimed at accelerating clean energy manufacturing and recycling and reducing greenhouse gas emissions at industrial facilities.

The projects announced today are addressing critical needs across the clean energy economy, including grid components (e.g., transformers), electric vehicle components and chargers, solar components, clean steel, critical materials processing and recycling, and other clean energy products. Seven of the projects announced today are located in traditional energy communities, which include communities with closed coal mines or coal plants – advancing the President’s commitment to invest in the communities that have kept America’s economy powered for generations. In order to receive the full 30 percent investment tax credit, projects receiving a 48C tax credit must meet prevailing wage and registered apprenticeship requirements.

“The Biden-Harris Administration is executing an industrial strategy that prioritizes rebuilding our domestic manufacturing sector, creating good-paying jobs across the country,” said U.S. Secretary of Energy Jennifer M. Granholm. “Through the historic Advanced Energy Project Credit, we are leveraging the infrastructure, expertise, and grit of America’s energy communities—where the workers that powered our energy past, will power our energy future.”

“President Biden’s economic agenda ensures all communities benefit from the growth of the clean energy economy by driving innovation and investment in areas of the country that have long been at the forefront of fossil fuel production,” said U.S. Secretary of the Treasury Janet Yellen. “Investments in advanced energy projects strengthen our energy security and create good-paying jobs in vital fields like clean energy manufacturing and critical materials processing. They also allow for existing energy infrastructure to be upgraded for the clean energy economy. All of this work will help lower energy costs for American families and small businesses.”

“President Biden is committed to building a clean energy economy that is bringing investments and jobs to the same communities that have powered our nation for over a century with fossil fuels,” said John Podesta, Senior Advisor to the President for International Climate Policy. “Today’s announcement of projects coming forward to share their participation in the 48C Qualifying Advanced Energy Program represents a direct, targeted investment in those energy communities and manufacturing across the nation so they can power our country for the next century.”

The IRA expanded the Qualifying Advanced Energy Project Credit (48C) to provide an additional credit allocation of $10 billion, with $4 billion set aside for projects in designated energy communities. The 48C credit is an investment tax credit of up to 30% of qualified investments for qualifying projects, provided they meet prevailing wage and apprenticeship requirements.

On March 29, 2024, the IRS allocated approximately $4 billion of 48C credits for over 100 projects across 35 states, with approximately $1.5 billion allocated to projects in designated energy communities. As required by statute, the 48C(e) program can release the names of all organizations allocated a credit and the amount of that allocation only after projects are certified, a process that can take up to two years. In advance of that certification, as of April 18th, 35 projects voluntarily self-disclosed information to DOE to share publicly as part of today’s announcement.

Clean Energy and Clean Vehicle Manufacturing

Fourteen projects will expand the manufacturing of clean energy products and materials to bolster energy security and increase economic competitiveness. These projects will include new and expanded facilities to produce products ranging from electric vehicle chargers, recycled glass and polysilicon for solar panels, and steel needed for offshore wind projects. These projects include:

Highland Materials, Inc, Surgoinsville TN. This project, which is located in an Energy Community, will initially produce 16,000 Metric Tons per year (MT/year) of solar grade polysilicon at less than standard cost and with a 90% reduction in carbon emissions. At full capacity, it will produce 20,000 MT/year – the equivalent of 11 GW of solar cells. Highland is working closely with Northeast State Community College to develop and implement workforce development including DOL certified apprenticeship programs, along with other community support programs designed to support our workforce and the community at large. [Credit Amount: $255.6 Million]

Mobis North America electrified Powertrain, LLC (MNAe), Richmond Hill GA. MNAe will be constructing three different electric vehicle component plants that will provide parts to the production of Hyundai and Kia electric vehicles. The awarded plant, located in Richmond Hill, will specifically produce Power Electric Systems (“PE System”) which are integral to the production of electric vehicles. [Credit Amount: $57.6 Million]
Grid Components and Modernization

Eight projects will produce critical grid components needed to bolster grid resiliency and overcome supply chain constraints to upgrading the grid, including large power transformers, grid scale batteries, substation electrical transformers, voltage regulators, and belowground and underwater electrical cables. These projects include:

Eaton Corporation, Waukesha WI. This project will increase manufacturing capacity for three-phase transformers used for utility power grids, data centers, and other large commercial and industrial applications. This equipment will provide critical support for electric grid resilience, renewable energy projects and electric vehicle (EV) charging stations. Eaton works closely with Waukesha County Technical College (WCTC) to create education and training programs for manufacturing careers, including coil winding. [Credit Amount: $1.33 Million]

Prysmian, Williamsport PA. This project will reequip and expand an existing facility to increase manufacturing capacity of advanced transmission conductors, enabling production of thousands of metric tons per year. The conductors are expected to supply the Grain Belt Express project, a long-distance high-voltage direct-current transmission line project to deliver more affordable, reliable, and domestically sourced clean electricity to the Midwest. [Credit Amount: $3.89 Million]

Critical Minerals and Materials

Five projects will increase the U.S. production and refinement of critical minerals and materials needed to support the manufacturing of materials like electrical steel, lithium carbonate, and synthetic graphite. Projects will also include facilitating the recycling of lithium-ion batteries and black mass, ensuring critical minerals stay in the country for reuse and long-term supply chain and energy security. These projects include:

ArcelorMittal Calvert LLC, Calvert AL. This new advanced manufacturing facility in an Energy Community will produce high-quality non-grain oriented electrical steel (NOES). NOES is a critical material for production of electric motors used to power battery electric vehicles, plug in hybrid electric vehicles and hybrid vehicles, and other clean energy technologies. ArcelorMittal Calvert will partner with local educational and training institutions to develop tailored workforce development programs to meet the workforce needs. [Credit Amount: $280.5 Million]
Nth Cycle Inc., Fairfield, OH. This facility will provide the nation’s first large-scale production of Mixed Hydroxide Precipitate (MHP), and will make use of recycled and scrap materials from Li-ion batteries, spent catalysts and alloy scraps and slags. The process will provide critical nickel and cobalt materials for EV battery production. [Credit Amount: $7.22 Million]
Industrial Decarbonization

Eight projects will reduce emissions at existing industrial facilities or accelerate the manufacturing of clean hydrogen and low carbon fuels, including the manufacturing of electrolyzers, to facilitate the decarbonization of essential, energy-intensive sectors like steel and cement. These projects include:


Middlesex County Utilities Authority, Sayreville NJ. This project will increase the efficiency of a solid waste handling process of wastewater treatment through a new Advanced Anaerobic Digestion Facility, increasing use of renewable energy and reducing emissions by approximately 23%. The project’s construction contracts will include project labor agreements, support apprenticeships, and engage with businesses owned by minorities, women, veterans, and local small business owners. [Credit Amount: $40.5 Million]
Topsoe SOEC Production US Inc., Chester VA. This project will significantly expand U.S. electrolyzer manufacturing capacity, helping to meet the growing demand for green hydrogen. Electrolyzers are key for decarbonizing energy-intensive industries like steel, mining, and long-distance transportation, which account for approximately 30% of global greenhouse gas emissions. [Credit Amount: $135.9 Million]
See the full list of projects here.

Workforce and Community Benefits

These projects will help create more pathways for training and employment in the clean energy and manufacturing sectors and ensure that communities that traditionally powered our nation reap the economic benefits of the clean energy economy. For example, projects are partnering with a variety of training and education organizations (e.g., community colleges, colleges, career technical centers) to develop a skilled workforce. Community benefit agreements, project labor agreements and impact agreements that identify specific benefits for workers and local communities are being utilized within the portfolio. Projects also must meet prevailing wage and registered apprenticeship requirements to receive the full value of their 48C allocation.

The U.S. Department of Treasury and Internal Revenue Service anticipate issuing guidance for the second round of the 48C program in the coming weeks, with a submission window for required concept papers anticipated to open by this summer.

Companies that wish to be publicly listed by Department of Energy as recipients of the 48C program may submit their opt-in form to the Department of Energy to be featured in ongoing announcements. Learn more about the Qualifying Advanced Energy Project Credit (48C), which is managed by DOE’s Office of Manufacturing and Energy Supply Chains.
https://www.energy.gov/articles/biden-harris-administration-announces-first-projects-receiving-clean-energy-manufacturing

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Biden-Harris Administration Announces $475 Million Investment to Support Clean Energy Solutions on Current and Former Mine Land

MARCH 21, 2024
Energy.gov Biden-Harris Administration Announces $475 Million Investment to Support Clean Energy Solutions on Current and Former Mine Land
President Biden’s Investing in America Agenda Funding Five Projects in Mining Communities Across the Nation, Supporting Local Economies While Accelerating Affordable, Clean Energy Solutions

WASHINGTON, D.C. — As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) today announced up to $475 million in funding for five projects in Arizona, Kentucky, Nevada, Pennsylvania, and West Virginia to accelerate clean energy deployment on current and former mine land. This funding—made possible by the Bipartisan Infrastructure Law—will support a variety of diverse, locally-driven clean energy projects that can be replicated in current and former mining communities across the country. The projects are expected to expand local and regional workforce partnerships and generate local tax revenues, supporting essential public services and spurring new economic opportunities in communities that have helped power the nation for generations. Today’s announcement will help strengthen America’s energy security and ensure the nation’s mining communities continue to play a vital role in our energy economy—reinforcing the Biden-Harris Administration’s deep commitment to building an inclusive and equitable clean energy future that creates healthier, more resilient communities.

“President Biden believes that the communities that have powered our nation for the past 100 years should power our nation for the next 100 years,” said U.S. Secretary of Energy Jennifer M. Granholm. “Thanks to the President’s Investing in America agenda, DOE is helping deploy clean energy solutions on current and former mine land across the country—supporting jobs and economic development in the areas hit hardest by our evolving energy landscape.”

In line with President Biden’s Justice40 Initiative, these projects will advance energy and environmental justice and help ensure the benefits of the clean energy transition flow directly to impacted communities. The projects announced today will accelerate clean energy solutions that are critical to reducing pollution, creating healthier communities, and meeting the Biden-Harris Administration’s ambitious clean energy and climate goals.

Accelerating Clean Energy Deployment in America’s Mining Communities

The selected projects cover a range of clean energy technologies, from solar, microgrids, and pumped storage hydropower to geothermal and battery energy storage systems. Three projects are on former Appalachian coal mines, which supports economic revitalization and workforce development on land that is no longer viable for industrial purposes. In the West, two projects seek to displace fossil-fuel use by ramping up net-zero mining operations and providing the critical materials needed for a robust, domestic, clean energy supply chain. These projects are expected to create more than 3,000 good-paying construction and operations jobs.

The five projects selected for award negotiation include:

Copper Recovery to Support America’s Domestic Energy Supply Chain (Graham and Greenlee Counties, Arizona) – This project seeks to deploy direct-use, geothermal, clean heat combined with a battery energy storage system at two active copper mines in Southeast Arizona, helping decrease the mines’ reliance on onsite thermal backup generators while supporting the annual extraction of 25 million pounds of copper, a critical material, previously considered unrecoverable. This project anticipates creating 121 construction and 12 operations jobs. Freeport Minerals Corporation, the selectee, aims to continue to foster partnerships with technical colleges and high schools, with an emphasis on expanding access for students from underrepresented groups and providing scholarships for nearly 300 Native American students from 14 tribes.
Lewis Ridge Project (Coal-to-Pumped Storage Hydropower) (Bell County, Kentucky) – This project proposes converting former coal mine land to a closed-loop, pumped-storage hydroelectric facility with the potential to dispatch up to eight hours of power when needed, such as during times of peak demand or extreme weather events. This project will support the increase of local tax revenues that have decreased steadily since the 1970s and create approximately 1,500 construction and 30 operations jobs. Rye Development serves as the selectee and plans to prioritize local hiring through partnerships with several unions and the Southeast Kentucky Community & Technical College.
Decarbonizing Gold Mines (Elko, Humboldt and Eureka Counties, Nevada) – This project aims to develop a solar photovoltaic (PV) facility and accompanying battery energy storage system across three active gold mines in Nevada. By shifting to clean energy, this project could demonstrate a replicable way for the mining industry to reach net-zero operations, while meeting growing demands for minerals across multiple sectors—including the clean energy supply chain. Nevada Gold Mines LLC, the selectee, has committed to local hiring; offering training, mentoring and apprenticeships; and creating 300 construction jobs to support this project.
Mineral Basin: Coal-to-Solar (Clearfield County, Pennsylvania) – This project plans to repurpose nearly 2,700 acres of former coal mining land to support the largest solar project in Pennsylvania. At 402 MW, Mineral Basin will generate enough clean energy to power more than 70,000 homes. This project will increase regional access to clean energy and fill a critical electricity-generation gap following the closure of the Homer City coal plant. The project expects to create more than 750 construction jobs and six operations jobs, while providing $1.1 million in annual tax revenue to Goshen and Girard townships, Clearfield County and the Clearfield County School District. Once operational, Mineral Basin will contribute $500 for every megawatt generated annually to Goshen and Girard townships for community improvements, for a total of more than $200,000 per year. Mineral Basin Solar Power, LLC, a subsidiary of Swift Current Energy, the selectee, plans to partner with multiple local and regional education and workforce stakeholders to increase economic mobility for citizens across a 27-county region; make significant improvements to the water quality on the Susquehanna River; and create high-demand, high-wage jobs across multiple sectors.
A Model for Transition: Coal-to-Solar (Nicholas County, West Virginia) – This project plans to repurpose two former coal mines with a utility-scale, 250 MW solar PV system that would power approximately 39,000 West Virginia homes. These two inactive mine sites provide land and access to existing energy infrastructure that will transmit the clean, solar energy the project generates to the grid. Repurposing these previously disturbed sites for solar energy development can reduce development on sensitive natural and agricultural land, produce and deliver clean power to local communities, and lay the groundwork for a regional economic revitalization starting with the workforce. The New River Community and Technical College, Mana Group, and National Association of Counties Research Foundation plan to create a national Coal Transition Workforce Center to support and revitalize the local workforce for other opportunities in the nation’s growing clean energy economy. This project anticipates creating approximately 400 construction jobs and four operations jobs and aims to engage state labor groups and education program, curating a curriculum and identifying pathways to good-paying, clean energy jobs.
Developing clean energy projects on mine land provides an attractive economic alternative to using undisturbed natural and agricultural land. Mine land is often located near critical infrastructure that makes it suitable for clean energy development, including electric substations, transmission lines, and access to roads or railroad lines. Projects ultimately selected for award have the potential to be replicated and scaled on the millions of acres of current and former U.S. mine land. Managed by DOE’s Office of Clean Energy Demonstrations (OCED), the Clean Energy Demonstration Program on Current and Former Mine Land (CEML) will help provide the mining industry with a range of ways to decarbonize their operations and minimize environmental impacts and air pollutants, abating greenhouse gas emissions and disturbances to fragile, surrounding ecosystems. Simultaneously, replicating clean energy technologies like these on other current and former mines will help maximize local workforce development and community opportunities for generations.

Learn more about the selected projects here.

Building an Inclusive Clean Energy Future
DOE is committed to ensuring that America’s mining and traditional energy producing communities benefit from the nation’s transition to a clean energy future. This includes supporting local workforces, advancing environmental and energy justice, and fostering community engagement through the development and implementation of comprehensive Community Benefits Plans. Two selectees, as outlined in their Community Benefits Plans, have already signed agreements with local organized labor. The remaining selectees are either exploring or planning to develop project labor agreements to ensure a timely project completion with the help of skilled and diverse workers.

This program also advances President Biden’s Justice40 Initiative, which sets the goal that 40 percent of the overall benefits of certain Federal climate, clean energy, affordable and sustainable housing, and other investments flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution. According to the Climate and Economic Justice Screening Tool (CEJST), four of the selected projects (Arizona, Nevada, Kentucky, and West Virgina) will benefit disadvantaged communities, and one project (Pennsylvania) is located near a disadvantaged community for one of its proposed sites.

As part of the Department’s commitment to transparency and engagement, OCED will also hold a series of national and project specific community virtual briefings to provide information on the selected projects, OCED’s approach to clean energy demonstrations, and opportunities for community engagement. Learn about CEML engagement opportunities and register to attend here.

Selection for award negotiations is not a commitment by DOE to issue an award or provide funding. Before funding is issued, DOE and the selectees will undergo a negotiation process, and DOE may cancel negotiations and rescind the selection for any reason during that time.?If awarded,?OCED will evaluate these projects through a?phased approach to project management?that?includes “go/no-go” decision points between each project phase where DOE reviews and evaluates implementation progress, including community benefits. ??

OCED manages the CEML program and will provide project management oversight for the projects selected. Learn more about how OCED is supporting the Biden-Harris Administration’s whole-of-government approach in?addressing the climate crisis and delivering a clean and equitable energy future for every American.

https://www.energy.gov/articles/biden-harris-administration-announces-475-million-investment-support-clean-energy

Fresh Air (Remastered) · Quicksilver Messenger Service

[JD400]

10 million Tons of New Copper Demand Needed

Copper demand to boom as new technology drives power consumption, Trafigura says

with MMGYS Soundtrack

Reuters | April 22, 2024 | 5:31 am Intelligence Markets Copper

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters.


Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already driven up demand prospects for copper cable used to conduct electricity.

Estimates of new demand from these applications vary, but Graeme Train, head of metals analysis at Swiss-based Trafigura, said one third of the 10 million tons of new demand would come from the electric vehicle sector.

“A third is electricity generation, transmission and distribution, and the rest is for things like automation, manufacturing capex and cooling systems within data centres,” he said. Growth in data centres is related to AI.

Accelerating production of electric vehicles, solar panels and grid investment in China, and a pick-up in manufacturing activity in the top consumer, has already boosted demand for copper used in the power and construction industries.

That combined with tight supplies of refined copper metal and concentrate has propelled copper on the London Metal Exchange (LME) to two-year peaks near $10,000 a ton.

Copper industry sources say part of the reason for the price surge are sliding stocks in LME registered warehouses, which at 121,200 tonnes have dropped more than 35% since October last year.

Tight supplies of mined copper or concentrate, the feedstock for copper metal, due to disruptions such as the closure of First Quantum’s Cobre mine in Panama last year have also helped fuel copper’s upward price momentum this year.

Analysts have been revising their forecasts of the copper market balance since in December when Anglo American also cut its production guidance, and some now expect significant shortages in the copper market estimated at around 26 million tonnes this year.

Train expects copper demand to be bolstered by industrialization and urbanization in the emerging world, particularly in India where consumption per person per year is only half a kg.

In China and the developed world, per capita copper consumption is 10 kgs and seven kgs respectively, he said.

(By Pratima Desai; Editing by Jan Harvey)
https://www.mining.com/web/copper-demand-to-boom-as-new-technology-drives-power-consumption-trafigura-says/

Humans Not Needed (Artificial Intelligence Composed Music | Beatles Inspired Pop Song)

[Pro-Life]

Gold/Silver Ratio - 83.53 (a/o Friday, 4/19/24)

[Pro-Life]

$Gold and $Silver are now running together.

[JD400]

Choosing Mining Stocks Through The Eyes Of The Beer-holder

Today's Most Talented Miners

MARKET MOVERS

COMPANY +CHANGE% LAST TRADE
Royal Gold +1.07 0.88% $122.73
Aya Gold & Silver 0.72 5.11 $14.80
Torex Gold Resources 0.50 2.52 $20.38
Filo 0.50 2.05 $24.91
Newmont 0.48 1.25 $39.03
SilverCrest Metals 0.47 4.52 $10.87
Endeavour Mining 0.44 1.49 $29.94
Lundin Gold 0.43 2.18 $20.18
Agnico Eagle Mines 0.43 0.49 $87.82
Kinross Gold 0.34 3.79 $9.31
Seabridge Gold 0.32 1.54 $21.08
MAG Silver 0.32 1.91 $17.07
Alamos Gold 0.31 1.49 $21.06
U.S. Gold 0.29 7.11 $4.37
SSR Mining 0.27 3.82 $7.34

HIGH VOLUME
COMPANY VOLUME LAST TRADE
GoviEx Uranium 8,451,789 $0.11
Ivanhoe Mines 7,746,877 $19.21
Outcrop Silver & Gold 5,232,844 $0.22
Thesis Gold 4,701,396 $0.69
Kinross Gold 4,662,289 $9.31
B2Gold 4,515,613 $3.59
Uranium Energy 4,163,007 $6.79
Loyalist Exploration 4,025,000 $0.01
Power Nickel 2,975,872 $0.38
Minaurum Gold 2,906,008 $0.26
First Quantum Minerals 2,454,880 $15.96
Sherritt International 2,417,594 $0.32
Reyna Silver 2,391,392 $0.16
Purepoint Uranium 2,267,799 $0.04

[JD400]

BRICS GOLD train leaving the station - Destination Revalue Rd. - LFTV Ep 169

In this week’s episode of Live from the Vault, Andrew Maguire is joined by TF Metals Report’s Craig Hemke to address the community’s pressing questions on the FED’s suppression struggles, predictions for gold and silver and insight into BRICS.

The precious metals experts explore the significance of physical gold deliverability towards the success of the BRICS currency, which is forcing Western central banks to drastically reevaluate their predictions on the gold price.

Ask your questions for Andy here: https://forum.kinesis.money/forums/qu...

Timestamps
00:00 Start
01:50 Overall market update
10:10 The impending support levels for precious metals
21:45 Ongoing frustrations with gold trading reports!
25:14 An update on China’s gold strategy
27:16 What are the FED and COMEX up too?
33:30 Is BRICS behind the rally of gold to all-time highs?

[JD400]

Gata Dispatches

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DAILY DISPATCHES

U.S., Japan, South Korea hint at currency market intervention to stop dollar's rise
Submitted by admin on Thu, 2024-04-18 08:59 Section: Daily Dispatches
Dollar Rally Stalls After Rare FX Warning from Finance Chiefs

By Amanda Cooper
Reuters
Thursday, April 18, 2024

LONDON -- The dollar fell for a second day today after a rare warning by the finance chiefs of the United States, Japan, and South Korea over the sharp decline in other currencies, which in turn offered the yen some rare respite.

The yen got a modest lift after Japan's top currency diplomat Masato Kanda said finance leaders of the G7 reaffirmed their stance that excessive currency volatility was undesirable.
Strong U.S. economic data and persistent inflation have prompted investors to drastically rethink the chances of the Federal Reserve cutting rates any time soon. Tension in the Middle East has also added to the dollar's safe-haven appeal.

The upshot has been that other currencies, particularly in Asia, have been battered. The yen has been pinned near 34-year lows, prompting several warnings from Japanese authorities as traders fret about possible intervention.

The United States, Japan, and South Korea agreed to "consult closely" on foreign exchange markets in their first three-way finance dialogue on Wednesday, in a nod to the concerns of Tokyo and Seoul over their currencies' recent sharp declines.

"It sends another strong signal to market participants that Japan and South Korea are moving closer to stepping into the FX market, while at the same time officials from Japan and Korea will be hoping that the joint statement with the U.S. helps to strengthen the credibility of verbal intervention as well," said MUFG strategist Lee Hardman. ...

... For the remainder of the report:

https://www.reuters.com/markets/currencies/dollar-takes-breather-investors-ponder-us-rates-outlook-2024-04-18/


Toronto airport gold heist arrests include Air Canada staff as police recover little of the stolen metal

Submitted by admin on Wed, 2024-04-17 17:59 Section: Daily Dispatches
By Andy Takagi and Peter Edwards
Toronto Star
Wednesday, April 17, 2024

Two Air Canada employees and a Toronto jewelry store owner were among the inner group that plotted the theft of nearly $24 million in gold and cash from a storage unit at Pearson International Airport a year ago, police say.

Just $90,000 worth of the stolen gold has been recovered, police said at a press conference today, as they announced six arrests and three outstanding warrants on the one year anniversary of the massive heist.

"This investigation isn't done," Peel Deputy Chief Nick Milinovich said.

It was the largest gold theft in Canadian history and the sixth largest in the world, said police, who called their investigation Project 24K. ...

... For the remainder of the report:

https://www.thestar.com/news/gta/arrests-in-gold-and-cash-heist-at-pearson/article_fdf14418-fca8-11ee-94eb-13142f8dfcca.html

* * *


Here's why gold and silver miners seldom stand up for themselves and their investors

Submitted by admin on Wed, 2024-04-17 12:27 Section: Daily Dispatches
12:43p ET Wednesday, April 17, 2024

Dear Friend of GATA and Gold (and Silver):

In a brilliant essay GATA called to your attention yesterday, Money Metals Exchange CEO Stefan Gleason asked the compelling question: "When will gold and silver miners start believing in their product?"

Gleason wrote: "These businesses quite literally mine real money. But like nearly every other business or individual, they still seem to be stuck in the fiat currency paradigm."
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Acquire Irish Gold and Silver Trees of Life coins at competitive prices from APMEX here:

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Most gold and silver miners, Gleason noted, don't even reserve part of their production in their cash balances, preferring instead to sell their production for government currency almost as fast as they get it out of the ground.

GATA long has seen this phenomenon in a slightly different light, lamenting that few gold and silver mining companies acknowledge and agitate against government's constant if largely surreptitious market intervention to suppress monetary metals prices, intervention that supports government currencies against competition, intervention extensively documented by GATA here:

https://www.gata.org/node/20925

-- and here:

https://www.gata.org/taxonomy/term/21

But GATA understands this negligence of the monetary metals mining industry.

That is, the miners are too scared of their governments and their banks to acknowledge that they are competing with them in the money business.

Government can shut down a mine quickly on many pretexts -- environmental regulations, royalty rights, sovereignty claims, and such. And most mines are so expensive to build and operate that they require financing from the biggest banks, most of which are the partners of government in market rigging.

So the World Gold Council, an international trade association, should be running interference for the miners in the war waged by government against them. But the council itself seems to be an accomplice of government and big banks, operating as if its main purpose is to make sure there never is a world gold council.

As a result little GATA has been stuck doing the work the World Gold Council should be doing, exposing the government policies and operations that aim to prevent the monetary metals from being fairly valued, to prevent the miners from making money, and to prevent the world from enjoying free and transparent markets and limited and accountable government.

The World Gold Council has an annual budget of many millions of dollars, drawn from dues paid by its approximately 32 member mining companies:

https://www.gold.org/about-us/our-members

In contrast, GATA's annual budget is small and irregular. But who has accomplished more for the cause?

If you think it's GATA, please consider helping us --

https://www.gata.org/node/16

-- and consider urging any mining company in which you have invested to help us as well

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

* * *


Ambrose Evans-Pritchard: Gold is sniffing out monetary and geopolitical dystopia

Submitted by admin on Tue, 2024-04-16 20:10 Section: Daily Dispatches
By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, April 16, 2024

A powerful force is stalking the world's gold market. It is operating in the shadows.

None of the normal footprints are visible on the London bullion market or the Chicago Mercantile. Retail goldbugs have not been buyers: ETF gold funds have been shrinking since December. The crowd is piling into the Bitcoin scam instead.

Yet gold has smashed through a four-year barrier around $2,000 an ounce, rising in parabolic fashion since mid-February, and hitting an all-time high of $2,431 on April 11. Is somebody preparing for an escalation of the shadow Third World War?

In a practice unique to First Majestic, the company offers a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at the company's bullion store at some of lowest premiums available.

In Q1 2024 First Majestic will also commence bullion production from its 100%-owned and operated minting facility, First Mint LLC, to manufacture its own exceptional silver bullion products catering to the growing demand for physical silver.

"It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before," said Ross Norman, a veteran gold trader and now chief executive of Metals Daily.

Gold has been ratcheting up fresh records against the headwinds of a strong dollar, a 70-point jump in 10-year U.S. Treasury yields, and hawkish talk from the Federal Reserve. This mix would normally spell trouble for gold.

Whoever it is -- or they are -- seems insensitive to cost. Central banks do not behave like this. "They buy on the London benchmark and they don't chase the price," said Mr. Norman. This rally is happening off books in the OTC market. ...

... For the remainder of the commentary:

https://www.telegraph.co.uk/business/2024/04/16/gold-price-surge-china-warchest-geopolitical-dystopia/

* * *


Vietnam to probe gold traders for possible manipulation as prices soar

Submitted by admin on Tue, 2024-04-16 15:39 Section: Daily Dispatches
From Reuters
Tuesday, April 16, 2024

HANOI, Vietnam -- Vietnam's parliament has asked the government to investigate gold trading firms for possible market manipulation amid soaring domestic prices, state media reported today.

The price for gold bars in the Southeast Asian country has risen around 15% this year and hit a record high 85 million dong ($3,401.36) per tael on Friday.

A tael is equivalent to 37.5 grams or 1.21 troy ounces, and domestic prices for a tael are approximately $1,000 more than current global prices.

"The National Assembly Standing Committee requested the government to direct relevant agencies to focus on inspecting and examining gold trading enterprises to clarify if there are market manipulation acts," state-run Vietnam News Agency reported.

Vietnam's central bank has said it would increase supplies of gold bars by resuming auctions suspended more than a decade ago, as part of its effort to stabilise the market. ...

... For the remainder of the report:

https://www.reuters.com/legal/litigation/vietnam-probe-gold-traders-possible-manipulation-prices-soar-2024-04-16/

* * *


Stefan Gleason: When will gold and silver miners start believing in their product?

Submitted by admin on Tue, 2024-04-16 13:08 Section: Daily Dispatches
By Stefan Gleason, CEO
Money Metals Exchange, Eagle, Idaho
Tuesday, April 16, 2024

Miners spend billions of dollars every year pulling precious metals out of the ground. They toil mightily for years on end to produce these stores of value -- but then they turn right around and sell all their gold and silver immediately in exchange for fiat currencies.

If you stop to really think about it, this may seem strange.

hese businesses quite literally mine real money. But like nearly every other business or individual, they still seem to be stuck in the fiat currency paradigm.

It takes tremendous risk, capital, and time to find a resource, develop a mining project, and dig up and process the metals. It is extremely difficult to produce gold and silver at a profit. ...

... For the remainder of the commentary:

https://www.moneymetals.com/news/2024/04/16/when-will-gold-and-silver-miners-start-believing-in-their-product-003126

* * *

Gold banking accounts shine in South Korea as price of precious metal soars

Submitted by admin on Tue, 2024-04-16 10:35 Section: Daily Dispatches
By Yi Whan-woo
Korea Times, Seoul, South Korea
Tuesday, April 16, 2024

A growing number of bank clients are investing in gold using a deposit account that allows them to buy and sell the precious metal, whose price is surging due to heightened geopolitical risks and an increasing preference for safe haven assets.

The country's four major commercial banks -- KB, Shinhan, Hana, and Woori -- collectively reported on Monday a total of 255,887 accounts in which depositors entrust cash to the banks that purchase an equivalent value of gold on their behalf following consultation.

Account holders have the option to possess the actual gold they have invested in or to wait for market prices to appreciate, enabling them to withdraw a greater cash amount than their initial investment.

The number of so-called "gold banking accounts" increased steadily as the war in Ukraine drags on and financial market uncertainties increase due to the Israel-Hamas military conflict. ...

... For the remainder of the report:

https://www.koreatimes.co.kr/www/biz/2024/04/602_372799.html


China unloads more U.S. Treasury bills as odds of Fed rate cuts grow slim
Submitted by admin on Thu, 2024-04-18 10:29 Section: Daily Dispatches
By Kandy Wong
South China Morning Post, Hong Kong
Thursday, April 18, 2024

Worries over security and a further delay to expected interest rate cuts by the Federal Reserve have depleted Beijing's appetite for U.S. Treasury bills, and its position as the second-largest foreign holder of the financial instruments could be taken by the U.K. in coming months, analysts warned.

The world's second-largest economy offloaded US$22.7 billion of the bills in February, with its total holdings adding up to U.S. $775 billion as of the end of that month, according to figures released by the U.S. Treasury Department on Wednesday. ...

... For the remainder of the report:

https://www.scmp.com/economy/china-economy/article/3259463/china-unloads-more-us-treasury-bills-odds-fed-rate-cuts-grow-slim
...

All Dispatches
https://www.gata.org/

[JD400]

Grifters in an Ocean of Lies - Stock Option Expiration on Friday

with MMGYS Soundtracks

"A common feature of all these earlier troubles [panics such as 1907 and 1914] was that having happened they were over. The worst was reasonably recognizable as such. The singular feature of the great crash of 1929 was that the worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning.

Nothing could have been more ingeniously designed to maximize the suffering, and also to insure that as few as possible escaped the common misfortune. The fortunate speculator who had funds to answer the first margin call presently got another and equally urgent one, and if he met that there would still be another. In the end all the money he had was extracted from him and lost.

The man with the smart money, who was safely out of the market when the first crash came, naturally went back in to pick up bargains. The bargains then suffered a ruinous fall. Even the man who waited out all of October and all of November, who saw the volume of trading return to normal and saw Wall Street become as placid as a produce market, and who then bought common stocks would see their value drop to a third or a fourth of the purchase price in the next twenty-four months.

The Coolidge bull market was a remarkable phenomenon. The ruthlessness of its liquidation was, in its own way, equally remarkable."

John Kenneth Galbraith, The Great Crash of 1929

"The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revivial, but finally giving up in the final collapse."

Charles Kindleberger, Manias, Panics, and Crashes: A History of Financial Crises, 1978


The hallmark of forecasting a crash is a 'trigger event' that causes the rally that fails.
If there is no trigger event the usual market interventions by the fiscal and monetary authorities can turn the markets back up, and prolong the putative financial asset bubble until the real economy catches up to its valuations, or an event of sufficient magnitude finally occurs and a severe correction ensues.

Like snow building for an avalanche, at some point in an extended bubble it may take an event of much lesser magnitude than one might expect to set off the slide. Of late, however, the Fed and the Exchange Stabilization Fund have become so determined to support markets that the events tend to be of a greater magnitude. So what has happened in the past may not happened now.
Stocks continued their decline today. Goldilocks seems to have the vapours.

Gold and silver took a pause most likely with an eye to the stock market option expiration on Friday.

The Dollar slipped off the 106 handle.

VIX marked time at an elevated level.

It would be hard for me to remember a time when so many masks fell off the powerful, who increasingly drop all pretense to the rule of law, and any sort of morality other than 'do what thou will is the whole of the law.'

But God has a way of standing before the nations with judgement.

This is going to end badly, and many innocent people will be caught up in their wickedness.

It would be better for many of these criminals and their enablers if they had never been born.

Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/

[JD400]

$MUX McEwen Mining to buy remaining stake in Timberline Resources
Reuters | April 16, 2024 | 9:55 am Markets Canada USA Copper Gold

Talapoosa gold project in western Nevada, 45 km east of Reno. Credit: Timberline Resources
Canadian miner McEwen Mining entered into a deal to acquire all outstanding shares of Timberline Resources that it doesn’t already own, the companies said on Tuesday.

McEwen currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants.

Excluding existing ownership, McEwen, which has operations in Nevada, Canada, Mexico and Argentina, expects to issue around 1.84 million shares on closing for a transaction value of $18.8 million.

Timberline shareholders will receive 0.01 of a share of McEwen’s common stock for each Timberline share held, representing a value of $0.102 per Timberline share, or a premium of 132%, the companies said.

Timberline Resources, a Nevada based exploration company focused on gold and copper discoveries, would be required to pay McEwen a termination fee of $400,000 if it terminates the agreement.

(By Seher Dareen; Editing by Shailesh Kuber)

https://www.mining.com/web/mcewen-mining-announces-deal-to-buy-remaining-shares-of-timberline-resources/

[JD400]

Chile must pass permitting reforms to unblock investment, copper executives say

with MMGYS viewer sent Soundtrack

Thanks for sending ♥️

Reuters | April 16, 2024 | 9:03 am Intelligence Top Companies Latin America Copper
Union at BHP's Escondida, Spence copper mines reject contract offer


Chile’s government needs to quickly approve a proposal to streamline permitting for the mining industry to unlock and promote investment in the world’s top copper-producing country, a top executives said on Tuesday.


“In Chile it is urgent to improve the permit system to allow companies to approve large investment projects in a timely manner,” BHP President Americas Brandon Craig said on a panel at the World Copper Conference being held in Santiago.

“This not only applies to new projects, but also to permits needed to optimize current operations,” he added. BHP is a top copper producer and its flagship Escondida mine in Chile is the world’s largest copper mine.

Rio Tinto, which has a 30% stake in Escondida and partnered with state-run Codelco for copper exploration, agreed that more streamlining is needed to boost investment.

“I would like to invest more in Chile, but I need help,” said Bold Baatar, head of Rio Tinto’s copper business. “The more we can streamline the permitting process (in Chile) … I think that would be helpful.”

Mining companies and industry groups have complained about the extensive permitting process in Chile. In January, the government presented legal reforms to streamline permitting for investments, which can currently reach up to 500 requests from various authorities.

The reforms still must be approved by Congress, where the government has faced strong opposition. The government was able to pass a mining tax reform last year, but a major industry request during the debate was to streamline permitting and reduce start-up times for multi-million dollar copper projects, which is Chile’s largest export.

“I hope these reforms are approved quickly so that the industry can unlock large mining investments,” Craig said.

(By Fabian Cambero and Alexander Villegas; Editing by Andrea Ricci and Richard Chang)
https://www.mining.com/web/chile-must-pass-permitting-reforms-to-unblock-investment-says-bhp/

[JD400]

The Oscillator again TB1? it's looking like your spamming us.

suggest you start a Chuck Crew board or

also notice you have a mining and metal board pump Chucks oscillator there

thanks

here is the K-2 Oscillator

[JD400]

Short Interest in IAMGOLD Co. (NYSE:IAG) Decreases By 9.7%
Written by MarketBeat
April 15, 2024
SHARE

IAMGOLD logoIAMGOLD Co. (NYSE:IAG -TSE: $IMG was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 8,010,000 shares, a drop of 9.7% from the March 15th total of 8,870,000 shares. Based on an average trading volume of 8,450,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.6% of the shares of the stock are short sold.

Today
IAMGOLD Stock Down 2.2 %
Two Tiny Mining Stocks Worth Considering for the Next Gold Rush
IAG traded down $0.08 during trading on Monday, reaching $3.53. 1,647,328 shares of the stock traded hands, compared to its average volume of 8,604,386. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The stock's 50-day simple moving average is $2.98 and its two-hundred day simple moving average is $2.61.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. As a group, equities research analysts expect that IAMGOLD will post 0.07 EPS for the current year.

More info
Institutional Trading of IAMGOLD

A number of institutional investors and hedge funds have recently made changes to their positions in IAG. Helikon Investments Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $23,722,000. Two Sigma Investments LP lifted its position in shares of IAMGOLD by 492.0% in the first quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company's stock worth $19,742,000 after buying an additional 6,054,262 shares during the last quarter. Norges Bank acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $12,557,000. Donald Smith & CO. Inc. lifted its position in shares of IAMGOLD by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company's stock worth $90,519,000 after buying an additional 4,358,444 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $10,972,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets increased their target price on IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a report on Friday, April 5th. National Bank Financial restated a "sector perform spec overwgt" rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC increased their target price on IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IAMGOLD has an average rating of "Hold" and a consensus price target of $3.52.

https://www.marketbeat.com/instant-alerts/nyse-iag-options-data-report-2024-04-15/

Just a matter of time
"Pour Some Sugar On Me"

[TraderBlack1]

Oscillator Access Denied at Google

Been there done this b4, so I guess you and I will figure out how to accommodate this need for access.

You were quite generous describing IV as a "shambles". As an "Old Hand" like yourself, at IV, its really hard to describe how crazy its been at the Precious Miners and Metals section, having been there ( memory fails) for almost 20 yrs. My wife Barbie asks me "why when your constantly bitching about it, did you stay there?" and my answer is that there were up to 2 dozen really good posters, but most had left. Right now at the outside I'd say there are maybe a dozen great posters and maybe twice that good posters, and I'd love to reorganize some in some sensible format.

So I hope to gain access, as I have cobbled up several alternatives, but none as good
All the best, hope to see you all on the flip side of this
Denaliguide, aka TraderBlack1

[MysticTrailblazer20]

Hi with IV board in a total shambles I am going to post an Precious Metals Oscillator (gold) developed by ChuckKrew and for many years since his passing I've expanded the oscillators to include Silver and a MACD plot. When you click on the URL it does take a little while for the images to be created from a master system. All pricing comes from Google Finance. My alias at IV is RiddellFool but unless someone can give he a heads up on how to change I'm now MysticTrailblazer20 (whatever happened to the other 19?)

Gold and Silver Oscillators March 12

This is an explanation of how the plots are created from a database of 36 Gold or
Silver companies ranging from Majors to Juniors and the odd EFT.

Each day after market close the database is updated and scanned to determine how
many of the stocks are above their 50 day simple moving average. Each day's answer
is used to recalculate a 20 day simple moving average for the tally of stocks closing
above their 50 day simple moving average. That is the red line you see on the chart.
When the red line gets over 9 and starts up again, I use it as a low risk intermediate
term entry point into gold stocks that I like. When the red line gets over 26, I become
cautious and start thinking whether to sell out, sell calls, or do nothing.
.
The theory is that it takes a lot of selling to put at least 26 stocks of a 36 stock database
from the same sector under their 50 day simple moving average and keep them there
long enough for a 20 day simple moving average to drop below 9 and a lot of buying
for it then to rise up to 26 on the same 20 day basis It's purely sentiment, a measure
of fear and greed. Strangely, the most difficult thing to do is buy when the sentiment is
low, even though history shows time and again that the selling will stop soon. For me
the key is: be sure the sector is in a bull market and wait for that 20 day simple moving
average to start back up. That means that many of the stocks have stopped falling.
.
No indicator is foolproof. This one is no different and should be used in conjunction
with other indicators like MACD, RSI, and Stochs combined with some common sense.

[JD400]

BRICS driving gold & silver breakout? Feat. Dave Kranzler - LFTV Ep 168

Apr 12, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined once more by Dave Kranzler, publisher of the popular Mining Stock Journal, to analyse drivers behind the current physically-driven gold and silver bull run.

The precious metals experts take listeners through the current drivers of short-term market movements, including the possibility of unforeseen black swan events and the now beta-tested BRICS currency.

Check out Dave Kranzler: https://investmentresearchdynamics.com/

Ask your questions for Andy here: https://forum.kinesis.money/forums/qu...

Timestamps
00:00 Start
02:10 Gold mining stock example: Cabral Gold
06:30 Dave’s thoughts on silver
11:40 The physical market in the short-term
19:00 Silver to break out?
28:30 The gold: silver ratio
36:00 Rate cuts & commercial real estate
49:00 BRICS currency greenlighted and beta-tested

[JD400]

Digging Deeper: Exploring the Depths of Mining

Streamed live 10 hours ago #Mining #Benzinga
Digging Deeper: Exploring the Depths of Mining is a can’t miss event that explores the depths of innovation with the mining industry. Join us for a captivating journey as we navigate through the transformative landscape, discovering the latest technologies, sustainable practices, and strategies propelling mining into a new era.

Patricia Mohr, Economist & Commodity Market Specialist & Former VP at Scotiabank | Mohr & Co. Critical Metals Inc.

Rick Rule, Founder, President & CEO - Rule Investment Media LLC.
https://www.ruleinvestmentmedia.com

Alex Wylie, CEO - Volt Lithium Corp.
https://voltlithium.com/

Warwick Smith, CEO & Director - American Pacific
https://americanpacificmining.com/

Stephen Rentschler, CEO - Nevada Lithium
https://nevadalithium.com/
(CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K)

Rob McEwen, Chairman & Chief Owner - McEwen Mining
https://www.mcewenmining.com/

Luke Norman, Executive Chairman & Co-Founder - US Gold Corp
https://www.usgoldcorp.gold/
(NASDAQ: USAU)

[JD400]

Copper’s second secular bull market this century is being driven

Copper is entering a new bull market phase, Citi says
Bloomberg News | April 9, 2024 | 4:40 am Intelligence Markets China Copper

with MMGYS Soundtrack

Copper has entered its second secular bull market this century, Citi analysts said, as the metal traded near a 15-month high.

Prices have risen over 10% this year as disruptions at major mines threaten refined metal production at the Chinese plants that account for more than half the world’s supply. The Federal Reserve’s expected pivot this year to easier monetary policy is also brightening the outlook for the global economy.

Still, China is grappling with a prolonged property crisis and sagging consumer confidence. The country’s smelters, which produce more than half the world’s refined copper, are considering output cuts after processing fees fell near zero.


“Copper’s second secular bull market this century is being driven by booming decarbonisation-related demand growth,” the Citi analysts wrote in a note. “Only higher prices will solve these deficits.”

During copper’s bull market of the 2000s, prices rose more than five-fold in three years, driven by urbanization and industrialization in China. Citi recommends corporate consumers hedge their copper exposures, because there is potential for “explosive price upside” again over the next three years.

Prices briefly dipped in the London morning, before recovering, as LME data showed inventories jump by the most since September. Copper was up 0.4% to $9,449.00 a ton on the London Metal Exchange as of 11:04 a.m. in London, after prices hit $9,484.50 a ton on Monday, the highest since January 2023.

Other base metals were higher, with zinc rising 1.4% as Chinese output faces risks due to a collapse in treatment charges at smelters.
https://www.mining.com/web/copper-is-entering-a-new-bull-market-phase-citi-says/

Little Feat - Let It Roll

[JD400]

Copper miners glimpse the future they’ve long seen coming
Bloomberg News | April 5, 2024 | 7:50 am Intelligence Markets Top Companies China Latin America Copper

with MMGYS Soundtrack

Chile's mining production up 7.7% in February

For much of the past decade, there’s been a widely accepted orthodoxy in the mining industry that copper is the place to be.


Its champions have pointed to a likely explosion in demand as the global economy electrifies and decarbonizes, while fresh supply has looked increasingly scarce.


Instead, the metal has largely been overshadowed by old-industry stalwarts such as iron ore and coal, which have driven record profits for mining’s biggest names in recent years.

Yet a supply shock and growing confidence in an economic recovery are now seeing copper take center stage.


Production concerns have been fueled by Panama’s order late last year to shut a giant First Quantum Minerals Ltd. mine, removing roughly 400,000 tons of the metal from the world’s annual supply.

Behemoth Anglo American Plc then stunned investors by saying it was scaling back output by about 200,000 tons.

The market initially shrugged off these cuts as consumption looked anemic. But that’s changing as manufacturing — perhaps the most important demand metric for copper — shows signs of picking up almost everywhere.

In China, the official manufacturing purchasing managers’ index expanded in March for the first time since September, while preliminary data from India points to some of the strongest growth for the industry in years.

That’s catapulted the commodity to the highest prices in more than a year, up almost 9% so far in 2024.

While metal markets often move in tandem — with Chinese demand lifting all the boats — at the moment that’s not the case. Iron ore remains under pressure, while coal continues to slide.

That’s allowed the pure-play copper producers to lure investors who have cooled on the large, diversified miners — whose profits are dominated by iron ore.

Copper specialist Antofagasta Plc has gained almost 30% this year, while Freeport-McMoRan Inc. is up about 15%. By contrast, mining’s biggest names — BHP Group Ltd. and Rio Tinto Group — are both down around 14%.

(By Thomas Biesheuvel)
https://www.mining.com/web/copper-miners-glimpse-the-future-theyve-long-seen-coming/

[JD400]

""""""Lets Go HOYING """""""

52-week Highs

with MMGYS Soundtrack

Bank of Montreal (T.BMO) hit a new 52-week high of $132.63 Monday. BMO Asset Management Inc. (BMOAM Inc.), the manager of the BMO ETFs, today announced the launch of BMO US Equity Buffer Hedged to CAD ETF – April.

Equinox Gold Corp. (TSX: EQX) hit a new 52-Week high of $8.27. Equinox has agreed with the existing noteholders to amend certain terms of the $139.7 million principal 5.00% convertible notes due April 12, 2024 and the $139.3 million principal 4.75% convertible notes due March 10, 2025.

IAMGOLD Corporation (T.IMG) hit a new 52-week high of $4.86 Monday. Iamgold that it has completed its first gold pour at the Côté Gold Mine, located in Ontario. Côté Gold is operated as a joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd.

American Eagle Gold Corp. (V.AE) hit a new 52-Week high of 73 cents. No news stories available today.

Agnico Eagle Mines Limited (T.AEM) hit a new 52-Week high of $82.22 Monday. No news stories available today.

Alamos Gold Inc. (T.AGI) hit a new 52-Week high of $19.64 Monday. No news stories available today.

Aris Mining Corporation (T.ARIS) hit a new 52-week high of $4.90 Monday. No news stories available today.

Artemis Gold Inc. (V.ARTG) hit a new 52-week high of $8.43 Monday. No news stories available today.

ARC Resources Ltd. (T.ARX) hit a new 52-week high of $24.33 Monday. No news stories available today.

Black Mammoth Metals Corporation (V.BMM) hit a new 52-week high of 45 cents Monday. No news stories available today.

Sprott Physical Gold and Silver Trust (T.CEF) hit a new 52-week high of $27.74 Monday. No news stories available today.

China Gold International Resources Corp. Ltd. (T.CGG) (Q4) hit a new 52-week high of $8.67 Monday. No news stories available today.

Canadian Natural Resources Limited (T.CNQ) hit a new 52-week high of $103.32 Thursday. No news stories available today.

Capstone Copper Corp. (T.CS) hit a new 52-week high of $8.67 Thursday. No news stories available today.

Dynacor Group Inc. (T.DNG) hit a new 52-week high of $4.69 Monday. No news stories available today.

Canoe EIT Income Fund (T.EIT.UN) hit a new 52-week high of $13.73 Monday. No news stories available today.

Eldorado Gold Corporation (T.ELD) hit a new 52-week high of $19.38 Monday. No news stories available today.

Erdene Resource Development Corporation (T.ERD) hit a new 52-week high of 40 cents Monday. No news stories available today.

Enerplus Corporation (T.ERF) hit a new 52-week high of $26.60 Monday. No news stories available today.

Firan Technology Group Corporation (T.FTG) hit a new 52-week high of $6.12 Monday. No news stories available today.

Galiano Gold Inc. (T.GAU) hit a new 52-week high of $1.94 Monday. No news stories available today.

Gamehost Inc. (T.GH) hit a new 52-week high of $9.94 Monday. No news stories available today.

Tantalus Systems Holding Inc. (T.GRID) hit a new 52-week high of $1.84 Monday. No news stories available today.

Grown Rogue International Inc (C.GRIN) hit a new 52-week high of 69 cents Monday. No news stories available today.

Hudbay Minerals Inc. (T.HBM) hit a new 52-week high of $9.51 Monday. No news stories available today.

IBEX Technologies Inc. (V.IBT) hit a new 52-week high of $1.44 Monday. No news stories available today.

Imperial Oil Limited (T.IMO) hit a new 52-week high of $94.26 Monday. No news stories available today.

Intrepid Metals Corp. (V.INTR) hit a new 52-week high of 80 cents Monday. No news stories available today.

Kinross Gold Corporation (T.K) hit a new 52-week high of $8.38 Monday. No news stories available today.

Keyera Corp. (T.KEY) hit a new 52-week high of $35.00 Monday. No news stories available today.

Lundin Gold Inc. (T.LUG) hit a new 52-week high of $19.46 Monday. No news stories available today.

Lundin Mining Corporation (T.LUN) hit a new 52-week high of $13.92 Monday. No news stories available today.

Minaurum Gold Inc. (V.MGG) hit a new 52-week high of 29 cents Monday. No news stories available today.

Royal Canadian Mint (T.MNT) hit a new 52-week high of $30.01 Monday. No news stories available today.

Mineros S.A. (T.MSA) hit a new 52-week high of $1.08 Monday. No news stories available today.

McEwen Mining Inc. (T.MUX) hit a new 52-week high of $14.16 Monday. No news stories available today.

MediaValet Inc. (T.MVP) hit a new 52-week high of $1.70 Monday. No news stories available today.

New Gold Inc. (T.NGD) hit a new 52-week high of $2.33 Monday. No news stories available today.

NexGen Energy Ltd. (T.NXE) hit a new 52-week high of $11.18 Monday. No news stories available today.

Ovintiv Inc. (T.OVV) hit a new 52-week high of $70.94 Monday. No news stories available today.

https://www.baystreet.ca/articles/breakoutstocks.aspx?id=3652

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