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AngloGold to acquire Augusta Gold in Nevada expansion

ByVictoria

AngloGold Ashanti (NYSE:AU) said Wednesday it agreed to acquire Augusta Gold (OTCQB:AUGG) for C$1.70/share in cash, implying a fully-diluted equity value of ~C$152M (US$111M).

The price represents a ~28% premium to Augusta Gold’s (OTCQB:AUGG) closing price on the Toronto Stock Exchange on July 15.

“This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” AngloGold (AU) CEO Alberto Calderon said.

Source – Seeking Alpha

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    Kentucky vetos House Bill 2

    ByVictoria
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    In a landmark victory for coin dealers, collectors, and investors, the Kentucky General Assembly has overridden Governor Andy Beshear’s veto of House Bill 2, officially enacting a sales-tax exemption for currency, bullion, and coins.

    Introduced Jan. 10, 2025, HB 2 passed the House with a 76–17 vote and the Senate with a 30–6 vote earlier this year. The veto override, finalized on March 27 with an 80-19 vote in the House and an 31-6 vote in the Senate, marks the successful conclusion of a year-long effort to protect Kentucky taxpayers.

    Source – Coin World

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    Trump to make sure Fort Knox gold is there

    ByVictoria
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    “We’re going to go into Fort Knox to make sure the gold is there… do you know about that?” Trump said to a reporter aboard Air Force One, according to a video posted to X by Musk.

    “We hope everything is fine with Fort Knox, but we’re going to go into Fort Knox, the fabled Fort Knox, to make sure the gold is there.”

    “If the gold isn’t there, we’re going to be very upset,” Trump said.

    Then-Treasury Secretary Steven Mnuchin and Sen. Mitch McConnell, R-Ky., visited the vaults in 2017. They reported that, despite various conspiracy theories, the gold was present.

    Source – FOX News

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    Germany gold reserves being held

    ByVictoria
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    The safety of Germany’s gold reserves held overseas and in New York in particular, until recently mainly a talking point for the country’s far-right party and gold bugs, is becoming a matter of public debate with Donald Trump back in the White House.

    “For gold reserves, diversification is key. Having all eggs in too few baskets is never advisable,” Ferber said.

    Source – Reuters

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    Freeport – McMoRan Inc is developing new technology

    ByVictoria
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    After 154 years of digging at Morenci, all the easily recoverable copper has been mined. Left behind are towering piles of waste rock that hold nearly 10 million tons of the metal seen as critical to global electrification. It’s a cache that could prove key to President Donald Trump’s ambition to boost US production of critical minerals.

    Freeport-McMoRan Inc., which owns Morenci, is trying to develop technology that can burrow within those gigantic waste piles and extract low-grade copper that miners previously saw as too expensive and difficult to process.

    “For a long time, we just didn’t think it was possible to recover any of this stuff,” said Robert Pollock, Morenci’s site manager, gazing up at a waste pile the size of a Manhattan office building. “But now, all this historical copper – we’re going after it.”

    Source – Bloomberg

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    Kentuckians could sue Gov. Andy Beshear over a gold and silver sales tax

    ByVictoria
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    Follow up on Kentucky considers bill to entice gold and silver investors

    House Bill 2, introduced last week by Rep. T.J. Roberts, R-Burlington, and backed by several other GOP representatives, would void a controversial line-item budget veto by Beshear last year that prevented state lawmakers from exempting “bullion currency” — or gold and silver coins — from taxation.

    The proposed bill would also give people who have paid sales taxes on gold and silver since August — when the exemption was set to take effect — the power to use the courts to seek a refund along with $1,000 for “each day that the violation occurred,” paid by the governor’s office.

    Source – Louisville Courier-Journal