Phoenix-based Freeport also boosted its budget for the year by roughly 5% to $4.4 billion and forecast an increase for next year as well, surprising investors.
On an adjusted basis, the company earned 31 cents per share in the quarter, compared with the analysts’ average estimate of 20 cents per share, according to data compiled by LSEG.
Source – Reuters
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028
“Our stated goal is to become a green, high-tech, leading global company,”
“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.
Source – Kitco NEWS
ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.
VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.
Source – Globe News Wire / Yahoo Finance
In a complaint filed in Boone Circuit Court on March 27, the same day the legislation was delivered to the secretary of state’s office, an online bullion exchange and three Northern Kentucky residents said they and others are owed refunds on taxes improperly collected for their precious metals in the past eight months, naming Gov. Andy Beshear and several state offices as defendants.
The state representative, a frequent foil to Beshear who told colleagues in the House he sponsored the bill to ensure Kentuckians do not “pay taxes that were never lawful in the first place.”
HB 2 ensures the sale, use, storage or other consumption of “bullion currency” — gold, silver, platinum and other precious metals — cannot be taxed, overriding a line-item veto by Beshear that was included in a separate bill passed in 2024.
HB 2, which was filed in January and approved on party-line votes in the House and Senate, allows anyone who paid taxes on gold and silver after that Aug. 1 deadline to seek a refund in court.
Source – Courier Journal
Gold prices fell on Friday and were poised for their worst weekly performance in more than a month after the Federal Reserve tempered expectations for rate cuts and on a temporary easing of concerns about an imminent U.S. attack on Iran.
Spot gold slipped 0.7% to $3,347.80 an ounce, as of 1201 GMT, and was down 2.5% for the week so far. U.S. gold futures shed 1.3% to $3,364.00.
“Gold, silver, and platinum all suffered setbacks as traders booked profits after Wednesday’s FOMC meeting,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold is likely to extend its current consolidation phase with support around $3,320 followed by $3,245.”
Source – Reuters
Franco-Nevada said Tuesday it agreed to acquire a royalty package consisting of a 7.5% gross margin royalty on the Côté gold mine in Ontario from a unnamed third party for $1.05B in cash.
The company said the royalty package applies to mineral production from the Chester 1, 2 and 3 claims, which cover all of the mineral reserves and over 99.9% of current mineral resources on the Côté mine.
Source – Seeking Alpha
Franco-Nevada Corporation is a Canada based, gold-focused royalty, and streaming company with the most diversified portfolio of cashflow producing assests
Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.
“We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.
The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.
Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.
Source – Reuters
