With gold prices at record levels, the September quarter will post the highest average quarterly gold price ever, and “significant margin expansion,” said Neil Adshead, consultant analyst at the Commodities Discovery Fund. This week Kitco correspondent Paul Harris recorded Digging Deep with Adshead. “It'll be great to see two or three gold mining companies far exceed the expectations of what the sell-side analysts are projecting. There'll be some bumper profits and that will definitely draw some...
Sep 27, 2024•26 min
Most resource companies lack good communication strategies, said Nicole Adshead-Bell, principal at Cupel Advisory. This week Adshead-Bell recorded Digging Deep with Kitco Correspondent Paul Harris at the Gold Forum Americas / XPL-DEV 2024 in Colorado. Gold is having a staller year, hitting several all-time highs, but equity performance has not matched expectations, particularly among juniors and developers. A select number of companies are doing well. Bell anticipates increased merger and acquis...
Sep 20, 2024•22 min
Good gold prices are delighting several miners, said David Erfle, founder and editor of the JuniorMinerJunky.com. On Thursday Erfle recorded Digging Deep with Kitco correspondent Paul Harris at the 2024 Precious Metals Summit Beaver Creek in Colorado. Gold hitting all-time highs is a welcoming sign. “I've spoken with several happy management teams the past few days that have been de-risking large high margin, late-stage projects and are enjoying their respective share prices bifurcating from the...
Sep 13, 2024•22 min
Record gold prices are outstripping inflation and helping goldcos to healthy margins, although the range “is huge” Joe Mazumdar, Editor of Exploration Insights told Kitco Mining’s Digging Deep. “The average gross margin was 45-46% for [the 20 North American listed companies he studied] which is healthy,” said Mazumdar. Mazumdar said that the net debt level of the group was about US$275 million, but again with a large range from industry leader Newmont, which post Newcrest acquisition is sitting ...
Aug 27, 2024•22 min
Christopher Ecclestone, principal and mining strategist at Hallgarten + Company, said gold companies should increase their dividend payments to shareholders as their margins increase due to the increasing gold price, which has grown about 20% this year. He applauded AngloGold Ashanti, which hiked its dividend from 4c a share to 22c after quintupling profits to $313 million for the six months to June 30. It been one of the best-performing gold stocks this year, up 55%. Of all the gold producers t...
Aug 09, 2024•31 min
Copper M&A should heat up as a result of BHP (NYSE:BHP) and Lundin Mining (TSX:LUN) agreeing to buy Filo (TSX:FIL) for $3.25 billion (C$4.5B) and create a joint venture to develop the Josemaria and Filo del Sol deposits in San Juan Argentina, Neil Adshead, Consultant Analyst at Commodity Discovery Fund, said on Kitco Mining’s Digging Deep. This week Adshead recorded an episode of Digging Deep with Kitco Correspondent Paul Harris. “I suspect in every major mining company boardroom of the worl...
Aug 02, 2024•25 min
With analysts expecting another strong earnings quarter from Newmont (NYSE:NEM) when it announces its June quarter results on 24 July, main street investors should start taking notice of gold stocks, Junior Miner Junky editor David Erfle told Kitco Mining's Digging Deep. "I see smart money coming into Newmont. ... The Newmont share price is the big boy, the bellwether, the one that everybody looks at. ... Since the end of February, they've been leading the gold stocks up," said Erfle. In anticip...
Jul 24, 2024•27 min
If the markets don't show appreciation for a quarter that should be quite favorable for the gold miners, cashflow could just go to dividends instead of growth and M&A, said Joe Mazumdar, editor of Exploration Insights. This week Mazumdar recorded an episode of Digging Deep with Kitco Correspondent Paul Harris at the Rule Symposium in Boca Raton, Florida. The two noted the upcoming second quarter. It is important that the miners show they are containing costs, said Mazumdar. Margins need to g...
Jul 12, 2024•22 min
“Ugly” equity financing likely on the way as Victoria Gold grapples with the aftermath of a heap leach failure at its Eagle gold mine in Yukon, Canada, which could be an existential threat to the company, Nicole Adshead-Bell, principal at Cupel Advisory said on Kitco Mining’s Digging Deep show. Adshead-Bell looked at some of the reasons why heap leach pads fail, the impact they have on single asset gold producers and broader impacts on the industry at large. Adshead-Bell also discussed Skeena Re...
Jun 29, 2024•41 min
Equity financings continue to roll in the resource sector, noted Kitco Correspondent Paul Harris. This week Harris was joined by John Feneck, Founder & CEO of The Feneck Commodities Report. The two discussed green and red flags of gold developers, and why few of them hit it out of the park. Key green flags are the network effect of key investors, like the Lundin Group and Frank Guistra, and management bench strength like US Gold with George Bee, although with the caveat of not knowing what t...
Jun 01, 2024•29 min
A spate of financings show mining is gaining favor, noted David Erfle, founder of JuniorMiningJunky.com. This week Erfle recorded Digging Deep with Kitco correspondent Paul Harris. The two discussed $1.2B of financings announced on one day, including raises by Cameco, Hudbay Minerals, IAMGOLD, Patriot Battery Metals, Solaris Resources and Faraday Copper, including four bought deals. In copper news, Goldman Sachs trader Pierre Andurand out-Friedland’s perma-copper bull Robert Friedland by stating...
May 24, 2024•26 min
Copper is attracting investor interest from the Middle East, noted Joe Mazumdar, editor of Exploration Insights. On Thursday Mazumdar recorded Digging Deep with Kitco correspondent Paul Harris. With copper prices hitting $5 pound recently, interest in the metal is spiking. However sizeable funding is coming a non-traditional player in the resource sector. Mazumdar noted Saudi Arabia has been investing heavily, noting the Kingdom's state mining company, Manara Minerals, is nearing a $1 billion de...
May 18, 2024•32 min
Some M&A in the mining sector made sense while some other deals are puzzling, observed Luc ten Have, founder of GoldDiscovery.com. This week Ten Have spoke to Kitco correspondent Paul Harris to record an episode of Digging Deep at Deutsche Goldmesse in Frankfurt, Germany. Some notable deals in 2024 were Osino Resources getting taken out by Yintai Resources for $272 million; Alamos Gold buying Argonaut Gold for $325 million; and Zijin Mining paying $130 million for a 15% stake in Solaris Reso...
May 09, 2024•32 min
BHP's bid for Anglo American indicates a heating M&A cycle: the race for assets is on. On Friday Kitco correspondent recorded Digging Deep with guest Nicole Adshead-Bell from Cupel Advisory. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for i...
Apr 29, 2024•26 min
The copper industry has got itself into a bind in that it's obsessed with big to giant mines, when smaller copper deposits should be tapped as well, is Christopher Ecclestone, Principal and mining strategist at Hallgarten + Company, told Kitco Mining’s Digging Deep. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. no...
Apr 29, 2024•28 min
Some precious metals equities have more than doubled since the start of the year as gold continues its surge. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodit...
Apr 29, 2024•23 min
Cost inflation is hitting the gold space but with gold pushing higher, deep discounts on gold equities may present good buying opportunities, says Joe Mazumdar, editor of Exploration Insights newsletter. Mazumdar spoke to Paul Harris, host of Kitco Mining’s Digging Deep, on April 4. Harris gave the example of IAMGOLD (TSX:IMG) recently pouring first gold at its Côté mine in Ontario, Canada. The capex (capital expenditures) on the project is a $2.965 billion. Gold Fields (NYSE:GFI) finally achiev...
Apr 05, 2024•23 min
The gold price continues to set new all-time highs, with gold equities starting to get in on the action as M&A activity increases, Junior Miner Junky, David Erfle, told Kitco Mining's Digging Deep. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictl...
Apr 05, 2024•19 min
Gold prices are at all-time highs, but rising costs at the miners have tempered an equity upside, noted Neil Adshead, consultant analyst at Commodity Discovery Fund. On Friday Kitco Mining Correspondent Paul Harris recorded Digging Deep. Harris noted that despite the gold prices hitting all-time highs in 2024, the gold miners have not rallied. Year-to-date the gold miners index, the VanEck Gold Miners ETF, is down 3% to $29.60 a share. Adshead noted that the big, diversified miners have much lar...
Apr 05, 2024•27 min
Copper prices are at the beginning of a big run, said Cupel Advisory Director Nicole Adshead-Bell. On Thursday Adshead-Bell recorded Digging Deep with Kitco Correspondent Paul Harris. Copper had a good week, hitting a seven-month high on news that China plans to mothball loss-making smelters. Reduced supply strengthens the long-term bull case for copper, noted Adshead-Bell. "The price is moving now [because] market participants are finally starting to realize that there is a very material, loomi...
Mar 18, 2024•29 min
The gold price is hitting all-time highs, but there is still scant interest in junior miners, noted JuniorMinerJunky's David Erfle. On Wednesday Erfle recorded the inaugural show Digging Deep, hosted by Kitco correspondent Paul Harris at PDAC in Toronto. PDAC is mining largest annual get together. Over 23,000 delegates attended last year's show. Erfle noted the lack of love junior miners are attracting despite precious metals jumping higher. "You could pretty much roll bowling balls down the ais...
Mar 11, 2024•19 min
