Wednesday, November 16, 2022 6:24:07 AM
Up and Up and Away Miners News
MARKET MOVERS
Company +Change% Last Trade
Filo Mining +0.70 4.00% $18.20
Cameco 0.55 1.70 $32.87
Ivanhoe Electric 0.44 2.74 $16.50
Triple Flag Precious Metals 0.40 2.75 $14.97
Western Copper & Gold 0.22 10.68 $2.28
Solaris Resources 0.18 2.92 $6.34
Electra Battery Materials 0.17 5.18 $3.45
Aura Minerals 0.16 1.77 $9.19
i-80 Gold 0.16 5.46 $3.09
Karora Resources 0.15 3.76 $4.14
NexGen Energy 0.14 2.32 $6.18
Largo Resources 0.12 1.73 $7.07
Maverix Metals 0.10 1.94 $5.25
Paycore Minerals 0.10 8.40 $1.29
OceanaGold 0.09 3.88 $2.41
HIGH VOLUME
Company Volume Last Trade
Uranium Energy 7,941,342 $4.12
Lundin Mining 5,049,606 $8.26
Kinross Gold 4,719,085 $5.56
Argonaut Gold 4,230,615 $0.35
Fission Uranium 3,706,979 $0.79
B2Gold 2,793,397 $4.57
Hycroft Mining 2,230,740 $0.81
Doré Copper Mining 2,186,611 $0.36
Signature Resources 2,053,000 $0.02
Victory Resources 2,034,744 $0.03
Copper Mountain Mining 1,802,853 $1.69
Sherritt International 1,784,756 $0.50
First Quantum Minerals 1,782,359 $32.86
American Eagle Gold 1,767,762 $0.30
Opawica Explorations 1,728,500 $0.04
EARNINGS / PRODUCTION RESULTS
Maverix Metals Announces Third Quarter 2022 Results and Declares Quarterly Dividend
Aya Gold & Silver Reports Strong Operating Cash Flow of US$5.7 Million
SolGold Announces Q1 2023 Financial Statements and MD&A
Vox Royalty Announces Q3 2022 Financial Results And Declares Quarterly Dividend
TRX Gold Declares Commercial Production of 1,000+ TPD Processing Plant
Starcore International Mines Announces 2nd Quarter Production Results
Dynacor Group Reports Sales of $46.0 Million and a Quarterly Net Income of $0.8 Million
$ STRATEGIC INVESTORS
Rackla Metals Announces $2 Million Non-Brokered Private Placement
Tectonic Metals Announces Strategic Investment by Crescat Capital as Part of a C$2 Million...
Capitan Mining Announces closing of 1st Tranche of Private Placement and Welcomes Strategic...
Tudor Gold Announces Closing of $7.75 Million Private Placement Offering, with...
Barksdale Resources Closes C$2.2 Million Financing; Crescat Capital Participates
$NAK Northern Dynasty updates Pebble PEA, showing minimal impact of royalty financing
Staff Writer | November 15, 2022 | 9:48 am News Canada USA Copper Gold Molybdenum Silver
The area where Pebble mine would be built, 320 km southwest of Anchorage, within the Bristol Bay watershed. (Image courtesy of Northern Dynasty Minerals)
Northern Dynasty Minerals (TSX: NDM) has filed an updated preliminary economic assessment (PEA) for the proposed Pebble project in southwest Alaska. This new PEA updates the company’s September 2021 PEA to incorporate the recently announced royalty investment for up to $60 million in five tranches.
To date, the company has completed the initial tranche of $12 million, which would bring the Pebble project’s post-tax net present value (NPV) to $2.25 billion (at 7% discount rate) with an internal rate of return (IRR) of 15.6%. Should all tranches be completed, the post-tax NPV would be $2.10 billion with IRR of 15.1%. The payback periods under both cases are just under five years.
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“In the updated technical report we have detailed the impact of the royalty financing on the value of the project,” CEO Ron Thiessen said in a news release.
“The results were aligned with our estimates at the time of the financing; the robust financial results of the 20-year base case are minimally impacted by the financing, which provides substantial working capital that we can use to advance the Pebble project in permitting.”
The 2022 PEA also assesses the royalty’s impact on the projected results for the three potential mine expansion scenarios and potential alternative strategies for gold recovery that were also presented in the 2021 PEA and could form the basis for future permit applications and review. The royalty was found to have a minimal impact on the results of these potential scenarios.
The report also includes updates that reflect events disclosed in the company’s public disclosure record that have occurred since the 2021 PEA was filed.
Northern Dynasty recently drew further controversy towards the Pebble project, which is already being delayed and is very much in limbo after the US Environmental Protection Agency proposed to restrict its development, for allegedly making false statements to regulators during the permitting process.
The company has been pursuing the copper-gold project for over a decade, but has faced strong opposition from conservation groups and local fishermen in its push to build the open pit mine in the world’s largest salmon habitat at Bristol Bay.
Once in production, it would be the largest mine in North America. The current resource estimate includes 6.5 billion tonnes in the measured and indicated categories containing 57 billion lb. copper, 71 million oz. gold, 3.4 billion lb. molybdenum, 345 million oz. silver and 2.6 million kg. rhenium.
Related: Pebble mine stakeholders up pressure as EPA’s final decision nears
https://www.mining.com/northern-dynasty-updates-pebble-pea-showing-minimal-impact-of-royalty-financing/
It's going to be a 'lively December' for gold price - Pepperstone
Anna Golubova Tuesday November 15, 2022
(Kitco News) Gold is looking at potentially taking out $1,800 and having a great 2023, according to Australian Pepperstone.
Gold finally found momentum after seeing seven months of consecutive losses and registering a bottom near $1,620 an ounce.
On Tuesday, December gold futures reacted positively to the slower U.S. Producer Price Index and renewed geopolitical tensions after reports that a Russian missile crossed over to Poland and killed two people.
"We're seeing signs of consolidation before a potential test of $1,800/04 and beyond. Happy to hold a positive bias but would reconsider through $1739 and $1710," said Pepperstone's head of research Chris Weston. "It's been a frustrating year for gold investors, and there has been an opportunity cost with holding longs, especially as cash has emerged as a risk-free investment class."
In the short term, the conditions for gold are favorable, and the month of December is expected to be "very lively," according to Weston.
"Looking forward, we see that implied volatility (priced in the options market) has come off a bit, with XAU 1-month IV into 15.5%, but this seems fitting with implied volatility across asset class falling recently," he said in a note Tuesday. "This measure of gold's expected volatility does take into consideration the US JOLTS job openings report (1 Dec AEDT), US non-farm payrolls (3 Dec) and Nov U.S. CPI inflation report (14 Dec) but is yet to fully incorporate the December FOMC meeting (15 Dec). Either way, while the market pares back expectations of volatility, I do see a floor in vol given this upcoming tier1 event risk, and I expect this period to get very lively for gold - as it will the USD, rates and the NAS100."
A key driver to watch as markets head into the year-end is the U.S. dollar, which has recently given room for gold prices to rally after weighing heavily on the precious metals throughout 2022.
"Given gold's rise vs. U.S. real rates, we can see it's the USD that is the key determinant, and with the wild selling activity taking the DXY below 106, XAU has benefited. One can write a lengthy thesis on the USD, but under the USD' smile' theory, a better feel on global growth is certainly helping, notably with USDCNH coming off so aggressively as China pivots on its Covid plans – we can also see an end to the Fed's hiking cycle, with many feeling that March 2023 could be the date when we get a prolonged pause in its hiking plans," Weston explained.
A big positive for the gold price is a potential slowdown by the Federal Reserve in December, Weston added. But a lot will depend on the November inflation report, which will be released in December.
"The next US CPI print (14 Dec) will be a blockbuster – not just because we get the FOMC meeting the day after, but it could confirm that the U.S. inflation rate may be falling not specifically because of tighter financial conditions through QT and rate hikes, and that still need to feed through the real economy. But there is a belief that while supply chains are easing, high prices are feeding on themselves, and inflation is falling on more organic factors – high prices being the cure for high prices – a factor which could be confirmed in Nov U.S. CPI report, and that could radically increase the need to pause on hikes after we see a 50bp in the December FOMC – a gold positive," said Weston.
According to the CME FedWatch Tool, markets are pricing in an 85.4% chance of a 50-basis-point rate hike in December, which is a slowdown from its 75bps pace that was used during the last four meetings.
"Positioning in gold futures is net short, and options skew is neutral – we head into a seasonally strong time to be long U.S. equities, and if equities do run hot into year-end, funds will remove USD hedges, and this should boost XAU. An open mind pays, and clearly, if the Nov CPI print comes in hot then gold could get slammed, but that is weeks away," Weston noted.
By Anna Golubova
For Kitco News
Wishing you a Wonderful Day
Pink Floyd - Dark Side Of The Moon
MMGYS SiMO Vision
MARKET MOVERS
Company +Change% Last Trade
Filo Mining +0.70 4.00% $18.20
Cameco 0.55 1.70 $32.87
Ivanhoe Electric 0.44 2.74 $16.50
Triple Flag Precious Metals 0.40 2.75 $14.97
Western Copper & Gold 0.22 10.68 $2.28
Solaris Resources 0.18 2.92 $6.34
Electra Battery Materials 0.17 5.18 $3.45
Aura Minerals 0.16 1.77 $9.19
i-80 Gold 0.16 5.46 $3.09
Karora Resources 0.15 3.76 $4.14
NexGen Energy 0.14 2.32 $6.18
Largo Resources 0.12 1.73 $7.07
Maverix Metals 0.10 1.94 $5.25
Paycore Minerals 0.10 8.40 $1.29
OceanaGold 0.09 3.88 $2.41
HIGH VOLUME
Company Volume Last Trade
Uranium Energy 7,941,342 $4.12
Lundin Mining 5,049,606 $8.26
Kinross Gold 4,719,085 $5.56
Argonaut Gold 4,230,615 $0.35
Fission Uranium 3,706,979 $0.79
B2Gold 2,793,397 $4.57
Hycroft Mining 2,230,740 $0.81
Doré Copper Mining 2,186,611 $0.36
Signature Resources 2,053,000 $0.02
Victory Resources 2,034,744 $0.03
Copper Mountain Mining 1,802,853 $1.69
Sherritt International 1,784,756 $0.50
First Quantum Minerals 1,782,359 $32.86
American Eagle Gold 1,767,762 $0.30
Opawica Explorations 1,728,500 $0.04
EARNINGS / PRODUCTION RESULTS
Maverix Metals Announces Third Quarter 2022 Results and Declares Quarterly Dividend
Aya Gold & Silver Reports Strong Operating Cash Flow of US$5.7 Million
SolGold Announces Q1 2023 Financial Statements and MD&A
Vox Royalty Announces Q3 2022 Financial Results And Declares Quarterly Dividend
TRX Gold Declares Commercial Production of 1,000+ TPD Processing Plant
Starcore International Mines Announces 2nd Quarter Production Results
Dynacor Group Reports Sales of $46.0 Million and a Quarterly Net Income of $0.8 Million
$ STRATEGIC INVESTORS
Rackla Metals Announces $2 Million Non-Brokered Private Placement
Tectonic Metals Announces Strategic Investment by Crescat Capital as Part of a C$2 Million...
Capitan Mining Announces closing of 1st Tranche of Private Placement and Welcomes Strategic...
Tudor Gold Announces Closing of $7.75 Million Private Placement Offering, with...
Barksdale Resources Closes C$2.2 Million Financing; Crescat Capital Participates
$NAK Northern Dynasty updates Pebble PEA, showing minimal impact of royalty financing
Staff Writer | November 15, 2022 | 9:48 am News Canada USA Copper Gold Molybdenum Silver
The area where Pebble mine would be built, 320 km southwest of Anchorage, within the Bristol Bay watershed. (Image courtesy of Northern Dynasty Minerals)
Northern Dynasty Minerals (TSX: NDM) has filed an updated preliminary economic assessment (PEA) for the proposed Pebble project in southwest Alaska. This new PEA updates the company’s September 2021 PEA to incorporate the recently announced royalty investment for up to $60 million in five tranches.
To date, the company has completed the initial tranche of $12 million, which would bring the Pebble project’s post-tax net present value (NPV) to $2.25 billion (at 7% discount rate) with an internal rate of return (IRR) of 15.6%. Should all tranches be completed, the post-tax NPV would be $2.10 billion with IRR of 15.1%. The payback periods under both cases are just under five years.
Sign Up for the Copper Digest
“In the updated technical report we have detailed the impact of the royalty financing on the value of the project,” CEO Ron Thiessen said in a news release.
“The results were aligned with our estimates at the time of the financing; the robust financial results of the 20-year base case are minimally impacted by the financing, which provides substantial working capital that we can use to advance the Pebble project in permitting.”
The 2022 PEA also assesses the royalty’s impact on the projected results for the three potential mine expansion scenarios and potential alternative strategies for gold recovery that were also presented in the 2021 PEA and could form the basis for future permit applications and review. The royalty was found to have a minimal impact on the results of these potential scenarios.
The report also includes updates that reflect events disclosed in the company’s public disclosure record that have occurred since the 2021 PEA was filed.
Northern Dynasty recently drew further controversy towards the Pebble project, which is already being delayed and is very much in limbo after the US Environmental Protection Agency proposed to restrict its development, for allegedly making false statements to regulators during the permitting process.
The company has been pursuing the copper-gold project for over a decade, but has faced strong opposition from conservation groups and local fishermen in its push to build the open pit mine in the world’s largest salmon habitat at Bristol Bay.
Once in production, it would be the largest mine in North America. The current resource estimate includes 6.5 billion tonnes in the measured and indicated categories containing 57 billion lb. copper, 71 million oz. gold, 3.4 billion lb. molybdenum, 345 million oz. silver and 2.6 million kg. rhenium.
Related: Pebble mine stakeholders up pressure as EPA’s final decision nears
https://www.mining.com/northern-dynasty-updates-pebble-pea-showing-minimal-impact-of-royalty-financing/
It's going to be a 'lively December' for gold price - Pepperstone
Anna Golubova Tuesday November 15, 2022
(Kitco News) Gold is looking at potentially taking out $1,800 and having a great 2023, according to Australian Pepperstone.
Gold finally found momentum after seeing seven months of consecutive losses and registering a bottom near $1,620 an ounce.
On Tuesday, December gold futures reacted positively to the slower U.S. Producer Price Index and renewed geopolitical tensions after reports that a Russian missile crossed over to Poland and killed two people.
"We're seeing signs of consolidation before a potential test of $1,800/04 and beyond. Happy to hold a positive bias but would reconsider through $1739 and $1710," said Pepperstone's head of research Chris Weston. "It's been a frustrating year for gold investors, and there has been an opportunity cost with holding longs, especially as cash has emerged as a risk-free investment class."
In the short term, the conditions for gold are favorable, and the month of December is expected to be "very lively," according to Weston.
"Looking forward, we see that implied volatility (priced in the options market) has come off a bit, with XAU 1-month IV into 15.5%, but this seems fitting with implied volatility across asset class falling recently," he said in a note Tuesday. "This measure of gold's expected volatility does take into consideration the US JOLTS job openings report (1 Dec AEDT), US non-farm payrolls (3 Dec) and Nov U.S. CPI inflation report (14 Dec) but is yet to fully incorporate the December FOMC meeting (15 Dec). Either way, while the market pares back expectations of volatility, I do see a floor in vol given this upcoming tier1 event risk, and I expect this period to get very lively for gold - as it will the USD, rates and the NAS100."
A key driver to watch as markets head into the year-end is the U.S. dollar, which has recently given room for gold prices to rally after weighing heavily on the precious metals throughout 2022.
"Given gold's rise vs. U.S. real rates, we can see it's the USD that is the key determinant, and with the wild selling activity taking the DXY below 106, XAU has benefited. One can write a lengthy thesis on the USD, but under the USD' smile' theory, a better feel on global growth is certainly helping, notably with USDCNH coming off so aggressively as China pivots on its Covid plans – we can also see an end to the Fed's hiking cycle, with many feeling that March 2023 could be the date when we get a prolonged pause in its hiking plans," Weston explained.
A big positive for the gold price is a potential slowdown by the Federal Reserve in December, Weston added. But a lot will depend on the November inflation report, which will be released in December.
"The next US CPI print (14 Dec) will be a blockbuster – not just because we get the FOMC meeting the day after, but it could confirm that the U.S. inflation rate may be falling not specifically because of tighter financial conditions through QT and rate hikes, and that still need to feed through the real economy. But there is a belief that while supply chains are easing, high prices are feeding on themselves, and inflation is falling on more organic factors – high prices being the cure for high prices – a factor which could be confirmed in Nov U.S. CPI report, and that could radically increase the need to pause on hikes after we see a 50bp in the December FOMC – a gold positive," said Weston.
According to the CME FedWatch Tool, markets are pricing in an 85.4% chance of a 50-basis-point rate hike in December, which is a slowdown from its 75bps pace that was used during the last four meetings.
"Positioning in gold futures is net short, and options skew is neutral – we head into a seasonally strong time to be long U.S. equities, and if equities do run hot into year-end, funds will remove USD hedges, and this should boost XAU. An open mind pays, and clearly, if the Nov CPI print comes in hot then gold could get slammed, but that is weeks away," Weston noted.
By Anna Golubova
For Kitco News
Wishing you a Wonderful Day
Pink Floyd - Dark Side Of The Moon
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