Mining has to do more work to attract investors, said Joanna Ponicka, vice president of exploration at Equivest. In early May Ponicka spoke to Kitco Mining at Deutsche Goldmesse at Frankfurt, Germany. Ponicka said the mining sector has a perception problem and that is leading to less funding. A lack of investment in grassroots exploration is leading to a shortage of new discoveries. "As a prospect generator, we definitely see less money in the industry to do early-stage exploration," said Ponick...
May 16, 2024•24 min
While central bank buying has been supportive of gold prices, interest rate cuts later this year could send the metal higher, said Jeff Clark, editor of the TheGoldAdvisor.com. In early May Clark spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany. Gold has hit several all-time highs this attributed to strong central bank buying. "This could be a banner year for central bank gold buying," said Clark. "In my humble opinion, that is not why the gold price is higher. I think central b...
May 16, 2024•13 min
While the Federal Reserve is delaying rate cuts due to inflation, the economy is still getting lots of support, noted Eric Strand, founder and portfolio manager of AuAg Funds. In early May Strand spoke to Kitco Mining at Deutsche Goldmesse. Strand believes central bank buying, signs of continued monetary easing, and the massive deficits incurred by the U.S. are primary drivers behind gold's surge. "Even if we don't have seen the rates coming down, the Fed has been doing some kind of backdoor qua...
May 14, 2024•18 min
Despite high yields and a strong U.S. dollar, gold is moving higher because of the compelling macro picture, said Brien Lundin, editor of the Gold Newsletter. In early May Lundin spoke to Kitco Mining at Deutsche Goldmesse in Frankfurt, Germany. He called the rally surprising and believes it is driven by a combination of factors, including central bank buying, strong demand from China, increased buying from hedge funds and growing unease about global debt levels. "The buying has been strong desp...
May 14, 2024•28 min
Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi. On Tuesday, Doshi spoke to Kitco Mining. Jewelry fabrication typically represents about 50% of the gold market, with the rest of the demand coming from investing, central banks and industrial uses. “Historically, the demand side of the ledger has been driven and led by jewelry demand. Consumption could be as high as 50% or 55% for gold jewelry,” said Doshi. “[That] star...
May 13, 2024•18 min
Mining equity investors need to be patient, said Lobo Tiggre, editor of the IndependentSpeculator.com. In early May Tiggre spoke to Kitco correspondent Paul Harris at Deutsche Goldmesse held in Frankfurt, Germany. Tiggre noted the disconnect between high metal prices and mining equities that are not performing as well as they should. Gold has hit several all-time highs in 2024, but the gold miners, measured by the GDX, are only up 12% this year and well-off highs hit early this decade. Tiggre no...
May 12, 2024•25 min
A general mining recovery begins with producers, said George Salamis executive chair of Integra Resources ( @integraresourcescorp.1721 ) On Tuesday Salamis spoke to Kitco Mining. Integra Resources is focused on the Great Basin of the Western USA. The company has two flagship oxide heap leach projects: the past producing DeLamar project located in southwestern Idaho and the Nevada North project in Nevada. The Nevada projects came to Integra after a merger with Millennial in 2023. In 2024 Integra ...
May 12, 2024•16 min
The mining market is still subdued despite "violent moves" higher by gold, said Kai Hoffmann, the CEO of Soar Financial. On Monday Hoffmann spoke to Kitco Mining. Hoffmann is hosting Deutsche Goldmesse in Frankfurt, a two-day event kicking off May 3 that will showcase 30 resource companies. Some of the keynote speakers will be Brien Lundin, Lobo Tiggre and Jeff Clarke. Hoffmann tracks resource financings through Oreninc. Hoffmann is surprised that mining equities are still subdued after copper h...
May 11, 2024•13 min
Newcore Gold jumped 75% this month after releasing an updated preliminary economic assessment. On Tuesday President and CEO Luke Alexander spoke to Kitco Mining. The mining sector has been enjoying good tailwinds: copper has run up 20%, and gold has hit several all-time highs this year. Still financings remain moderate, according Oreninc. Selective companies are being financed. Alexander hopes the market doesn't run away. "I actually hope it remains a selective financing market," said Alexander....
May 10, 2024•15 min
Management, deposit and social license are all key when considering a resource investment, said Alex Black, executive chairman of Rio2, but time to production plays an important role, too. Black spoke to Kitco Mining on Monday. Rio2 (TSXV: RIO) is advancing its Fenix gold project in Chile. In April, the company announced a $23 million financing. The company also advanced some of its environmental permits. The company says that its Fenix is the largest undeveloped gold heap leach project in the A...
May 10, 2024•25 min
Investors still haven't made the link between high gold prices and mining equities, said Robert Quartermain, co-chairman of Dakota Gold. On Monday Quartermain spoke to Kitco Mining. Quartermain has a storied career in mining. Most recently he was Executive Chairman of Pretium Resources Inc., which he founded in October 2010. Pretium's Brucejack mine became Canada’s fourth-largest gold mine with annual production of 350,000 ounces. Quartermain was inducted into the Canadian Mining Hall of Fame in...
Apr 29, 2024•22 min
Gold should head higher due to debts and deficits, said Peter Grosskopf, chairman of SCP Resource Finance. On Wednesday Grosskopf was interviewed by Kitco Mining. Gold has been hitting fresh all-time highs late into 2023 and through 2024, but gold miners have only just rallied in the last month. Gold equities, measured by the GDX, is up over 16% in the past month. "The market finally woken up to these high precious metal prices," said Grosskopf. "[The rally is] definitely led by the big caps. Th...
Apr 29, 2024•9 min
Lithium futures are trading higher, and Asian battery manufacturers are saying demand will surprise to the upside, says Francis MacDonald, CEO and director of Li-FT Power (TSXV:LIFT). MacDonald spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada. “Hopefully that's an indication that we're coming out of the bottom,” he said, noting lithium carbonate prices have been stuck at around $13,000 a tonne. Li-FT Power is advancing the Yellowknife lithium project in Canada’s Northwest Ter...
Mar 22, 2024•10 min
Uranium is “a very unique commodity” that even at $100 a pound is still seeing a supply deficit, says John Ciampaglia, CEO of Sprott Asset Management. In February Ciampaglia spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. “We don't see a real meaningful supply response coming for the next few years and in the absence of that we think uranium prices are going to be higher for longer,” he said. Ciampaglia said uranium is being r...
Mar 22, 2024•17 min
The disconnect between gold prices and gold equities are explained by central bank precious metal purchases, said Wheaton Precious Metals CEO Randy Smallwood. On Friday, Smallwood spoke to Kitco Mining. Wheaton Precious Metals is a precious metals streaming company headquartered in Vancouver, B.C. Last week the company released its 4Q and year-end. Gold equivalent ounces produced was 619,608 ounces, nearly the same as the year prior. Gold production was up, but silver fell. Silver was down due t...
Mar 22, 2024•23 min
Mergers and acquisitions should continue through 2024, said David D'Onofrio, CFO of PowerOne Capital Markets. D'Onofrio spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada. PowerOne Capital Markets is a diversified merchant bank, and notable mining investments include Collective Mining, enCore Energy and Neo Lithium. D'Onofrio is also CEO of White Gold, a Canadian gold exploration company operating in the prolific White Gold District located south of Dawson City in northwest Yuk...
Mar 22, 2024•15 min
Solaris Resources has been transformed thanks to a $130 million investment by one of the world's largest miners, Zijin Mining Group. Solaris’ president and CEO Daniel Earle spoke to Kitco Mining in February at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida. Solaris Resources (TSX: SLS) is advancing its flagship Warintza project in Ecuador. The company calls Warintza a global scale resource with 579 Mt at 0.59% CuEq (Ind) and 887 Mt at 0.47% CuEq (Inf)...
Mar 22, 2024•13 min
Finding gold mineralization at scale and continuity was among Snowline Gold’s (TSXV:SGD) top 2023 accomplishments, says CEO and Director Scott Berdahl. In February Berdahl spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Snowline Gold is one of the most exciting exploration plays to emerge out of the Yukon. A 2023 hole returned 2.5 grams per tonne gold over 553 meters at the Valley discovery, making it one of the best drill hol...
Mar 22, 2024•13 min
Seventy percent of the world’s remaining copper resources are trapped in low-grade primary sulfide deposits. Being able to release that copper at a low cost, and with minimal capital expenditures is a big deal for the mining industry, says Mike Outwin, co-founder and CEO of privately held Jetti Resources. In February Outwin spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Jetti has developed a technology that addresses the chal...
Mar 22, 2024•14 min
You need dedicated teams with staying power to drive meaningful supply in beaten down markets, noted Shaun Usmar, founder and CEO of Triple Flag Precious Metals. In early March Usmar spoke to Kitco Mining at PDAC 2024 in Toronto, Canada. Usmar was asked about the underappreciated copper markets. He said that the incentive price needs to be higher for serious investment to flow into the space, but management teams that are willing to work through downturns are key. "[People] continue to underesti...
Mar 22, 2024•18 min
Alamos Gold really hit its stride this decade, said John McCluskey, president and CEO. In early March McCluskey spoke to Kitco Mining at PDAC 2024 in Toronto, Canada. Alamos (NYSE:AGI) is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America: the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos Mine in Sonora State, Mexico. The company's growth pipeline includes phase 3+ expansion at Island Gold, and th...
Mar 22, 2024•24 min
Barrick Gold (TSX:ABX) is focused on replacing the ounces it mines through exploration, says President & CEO Mark Bristow. In February Bristow spoke to Kitco Mining at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida. “We've really invested in the quality of our explorers and that's what adds value,” he said, noting that Barrick is spending 60 percent of its exploration budget this year on greenfield (early-stage) projects. Bristow said Barrick’s mo...
Mar 22, 2024•20 min
Seventy percent of the world’s remaining copper resources are trapped in low-grade primary sulfide deposits. Being able to release that copper at a low cost, and with minimal capital expenditures is a big deal for the mining industry, says Mike Outwin, co-founder and CEO of privately held Jetti Resources. In February Outwin spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Jetti has developed a technology that addresses the chal...
Mar 15, 2024•14 min
2024 will be a “building year” says B2Gold (TSX:BTO) President & CEO Clive Johnson, pointing to ongoing construction of the Goose mine in Nunavut, and projects in Mali including building a tailings facility and expanding a solar plant. In February Johnson spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. The company had an excellent 2023, production-wise, outputting 994,000 ounces from its operations in Mali, the Philippines...
Mar 15, 2024•19 min
The falloff in demand for electric vehicles is overblown, says Ken Brinsden, president and CEO of Patriot Battery Metals (TSX:PMET). In February Brinsden, along with COO and Executive Director Blair Way, spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Brinsden, Patriot’s former board chair, is now CEO, president and managing director. Former CEO Way moved into the chief operating officer position while retaining his seat on th...
Mar 15, 2024•20 min
While the electrification push is resulting in a ramp up of critical mineral production, Skarn Associates CEO Mark Fellows warned that to meet the rush, carbon intensity is rising at some mines. Skarn is a consultancy that helps miners quantify energy intensity, GHG emissions and water use across supply chains. Fellows spoke to Kitco Mining in early March at PDAC 2024 in Toronto, Canada. With electric vehicle demand jumping this decade due to shifting consumer preferences and government incentiv...
Mar 15, 2024•24 min
Being regionally focused is what differentiates Agnico Eagle Mines (TSX:AEM) from some of its more globally minded peers, says President & CEO Ammar Al-Joundi. In February Al-Joundi spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. He is the recipient of Kitco Mining’s 2023 CEO of the Year in the production category. Agnico Eagle ended 2023 with record production, cash flow and reserves. Asked why the company is delivering w...
Mar 15, 2024•17 min
The Séguéla mine in Côte d’Ivoire and the recently acquired Diamba Sud gold project in Senegal are “the two high-value opportunities,” says Jorge Ganoza, president & CEO of Fortuna Silver Mines (TSX:FVI). In February Ganoza spoke to Kitco Mining at the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida. The Canadian-listed precious metals company has mines in Côte d’Ivoire, Burkina Faso, Mexico, Argentina and Peru. In 2021 Fortuna expanded from Latin Amer...
Mar 15, 2024•16 min
A recent expansion study puts Blackwater in the top 10 gold projects by size, says Steven Dean, chairman & CEO of Artemis Gold (TSXV:ARTG). In February Dean spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida. Artemis acquired Blackwater from New Gold (TSX:NGD) in 2020 for CAD$190 million. The gold-silver project, located in central British Columbia 60 km from Prince George, is in the feasibility stage. It has 8 million ounces ...
Mar 12, 2024•15 min
