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Americas Gold and Silver Announces 2024 Results

ByVictoria
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Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2024.

Paul Andre Huet, Chairman and CEO, commented: “At Americas Gold and Silver we have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.”

Source – The Globe and Mail

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Freeport McMoRan mining raised at Jefferies

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Freeport McMoRan (NYSE:FCX) trades little changed Thursday as Jefferies upgrades shares to Buy from Hold with a $48 price target, raised from $40, just one month after downgrading due to risks in Indonesia, a cautious view on copper, and the company’s near-term lack of free cash flow.

If tariffs are implemented, Comex copper price premiums to the LME, which have been high already because of potential tariffs, likely will rise further, Jefferies analyst Christopher LaFemina says, noting Freeport (FCX) sells 1.35B lbs/year of copper at Comex prices and the current Comex premium to LME is ~$0.30/lb, and tariff-impacted imports would effectively set the Comex price since the U.S. cannot be self-sufficient in copper.

Source – Seeking Alpha

Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.

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CEO says Barrick will continue in Mali once they can ship gold

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Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow said on Wednesday.

“We will start the operations as soon as we get approval to ship the gold and we need to ship the gold to pay anything to the government,” Bristow said, adding that Barrick paid $460 million to the Mali government last year.

“So if you calculate that to per week… and every week we don’t do this it hurts everyone,” he added.

Source – Reuters

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Over the weekend!

ByVictoria
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‘Pivotal Moment’—Coinbase CEO Predicts When Bitcoin Price Could Flip Gold’s $18 Trillion

“Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves,” Armstrong posted to X in response to criticism of Trump’s plan for a national bitcoin reserve. “And I believe in the next five to 10 years bitcoin’s market cap will likely surpass gold. So these reserves should grow to exceed gold.”

“We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC.

Source – Forbes

Korea Zinc’s shares rose sharply

The stock climbed 12% on Friday, its steepest one-day gain in nearly two months, outperforming the benchmark Kospi index’s 0.85% rise.

The extraordinary shareholders’ meeting had initially been called by private-equity firm MBK Partners and Korea Zinc’s major shareholder Young Poong, which have teamed up and increased their combined stake to more than 40% since September for control of the smelter, to reshape its board and management led by Chairman Yun B. Choi.

Source – The Wall Street Journal

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Arizona Sonoran Copper makes big announcement valued at C$19.9m ($13.83m) with Hudbay Minerals

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Under this agreement, Hudbay will subscribe for 11,852,064 common shares of Arizona Sonoran at C$1.68 per share.

Arizona Sonoran president and CEO George Ogilvie said: “We are pleased and appreciative to welcome this further endorsement of our project and the go-forward plan by the team at Hudbay. It is the company’s objective to develop Cactus to be a significant producer of copper cathodes for direct use by industry in the state of Arizona and the larger US supply chain.

“We welcome Hudbay, a mid-tier base metal producer with decades of base metal successes in the Americas and a strong existing footprint in Arizona, as a larger and increasingly engaged shareholder, able to lend its experience and expertise as we advance and develop Cactus.”

Source – Global Data

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London Metals Exchange, Mixed signals in precious metals

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Zinc, the biggest loser in the LME complex, is currently trading 4.8% lower than at the start of the year.

Meanwhile, tin prices have increased by 13.5% in the first few weeks of the year, making it the biggest winner.

Copper refining grew as expected at 4.2%, but mine production surprised at 2.3%, 0.5% higher than the ICSG September forecast.

The supply of refined copper is under threat due to mine production, which has put downward pressure on processing fees in copper smelters, according to Commerzbank.

The lead market experienced a minor oversupply due to a substantial increase in mine production.

This increase, just under 2%, was fueled by significantly higher supply in the US, Australia, Peru, and Mexico.

Source – Invezz

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