News

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Kaiser Reef to acquire Henty gold mine

ByVictoria
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Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.

Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.

Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.

“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”

Source – Yahoo! Finance

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Congressional gold medal reintroduced to honor James Earl Jones

ByVictoria
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“James Earl Jones was a national treasure — an artist whose voice and presence have left his mark on American culture. He broke barriers, inspired generations, and served our country with honor. As a proud constituent of New York’s 17th District, it is only fitting that he posthumously receives one of our nation’s highest honors,” said Congressman Mike Lawler (R-New York).

Source – Coin World

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Silver Storm Files Technical Report and debt settlement

ByVictoria
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Silver Storm Mining Ltd. (“Silver Storm” or the “Company“) is pleased to announce that it has filed an independent National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“) Technical Report titled “Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico” with an effective date of December 31, 2024 (the “Technical Report“). The Technical Report updates the Mineral Resource estimate at the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico.

The Company also announces that it has entered into a debt settlement letter agreement with a drilling service provider (the “Creditor“) to settle the Company’s outstanding debt for past services performed by the Creditor in the amount of $578,200 (the “Debt“) by issuing 4,818,333 common shares in the capital of the Company (the “Common Shares“) at a deemed price of $0.12 per Common Share (the “Shares-for-Debt Transaction“).

Source – Yahoo Finance

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MAG Silver Corp reports Q4 2024

ByVictoria
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MAG Silver Corp.’s Q4 2024 results showed lower production due to lower grades, but full-year production exceeded revised guidance, leading to strong financials.

MAG Silver Corp. (NYSE:MAG) is a precious metals mining company with a few assets in North America. It has some early-stage exploration projects in the United States and Canada but gets most of its value from its 44% ownership in the Juanicipio mine in Mexico.

Source – Seeking Alpha

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Gold steady, tariff announcement

ByVictoria
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Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

“A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.

“A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.

“Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”

Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

Source – Reuters

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Australia’s Gold Road rejects Gold Fields proposal

ByVictoria
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Australia’s Gold Road Resources rejected a $2.1 billion takeover proposal from Gold Fields, calling the offer opportunistic following a drop in quarterly production.

The all-cash proposal was made earlier this month against a backdrop of surging gold prices, which recently surpassed $3,000 a troy ounce for the first time as economic uncertainty fuels demand for the metal as a perceived safe haven.

“Gold Fields will continue to seek the engagement of the Gold Road board to consider the merits of the proposed acquisition and to advance the proposal,” said Mike Fraser, chief executive of Gold Fields.

Source – Wall Street Journal

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Gold could reach $4000 says Strategist Mick McGlone

ByVictoria
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The yellow metal could zoom all the way to $4,000 if investors continue to lose their appetite for risk, which would mean ditching assets like stocks and cryptocurrencies, and redirecting that money into gold and Treasury bonds, according to a note Friday from Bloomberg Intelligence Strategist Mick McGlone.

“The key competitors for gold, at least for the past few years, have been the strong rise in U.S. stocks, the rise in U.S. bond yields, and the rise in digital gold—that is Bitcoin,”

Source – Barron’s

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Copper prices may continue to rise

ByVictoria
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Copper is generally a good indicator because it’s used all over the economy — in factories, houses, electronics and streetlights, per Chris Berry, founder and president of House Mountain Partners.

“The next time you’re on an airplane at night, and you’re coming in for a landing, and you see any lights or anything like that, every single one of those lights is working because of the electrical conductivity of copper,” he said.

So, if the economy is growing, and we’re building more, we’ll need more copper. 

Source – Market Place

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San Francisco Mint might close

ByVictoria
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President Trump and the Elon Musk-led Department of Government Efficiency (DOGE) have now targeted the San Francisco Mint for closure in a bid to sell the real estate on which the National Register of Historic Places structure stands, theoretically to reduce government expenses.

Mint-wide, the bureau has already trimmed more than 100 full-time staffers, with an edict from DOGE to trim another 200, while the bureau wrestles with vacancies, some of which still need to be filled. Many of the positions trimmed were resolved through resignations and retirements.

Closing the San Francisco Mint could affect the production of many numismatic products, such as Proof sets, silver Proof sets, Proof commemorative coins and Matte silver presidential medals.

Source – Coin World