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Franco – Nevada acquire 7.5% gross on gold mine

ByVictoria

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

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    Gold not expected to do well this week

    ByVictoria
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    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

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    Gold dips and U.S. Treasury yields rise

    ByVictoria
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    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

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    Author Collin Plume predicts spike in silver

    ByVictoria
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    “Bitcoin disrupted global finance just a decade ago, now, silver is emerging as the next keystone of global transformation—poised to reshape industries, currencies and geopolitics.”

     “With reserves projected to run out in just 20 years, Plume predicts silver’s price could surpass $60 per ounce.”

    According to Plume, nonsourced calculations are “showing the U.S. would need over 3.5 billion ounces [109,375 tons] of silver to transition to 100 percent solar power.” The writer and his publisher say this ties into “how China’s dominance in silver production threatens U.S. strategic interests.”

    Source – Recycling Today

    More Info on Author

    Collin Plume author of Silver is the New Oil

    Article on Collin Plume CSQ

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    Gold up 5% this week, Silver gained

    ByVictoria
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    Spot gold jumped over 1% to $3,214.92 an ounce, as of 0801 GMT, after hitting a record high of $3,219.84 earlier in the session. Bullion is up over 5% so far this week.

    “Recession risks are mounting, bond yields are soaring, and the U.S. dollar continues to weaken – all factors reinforcing gold’s role as a crisis hedge and inflation shield,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

    “We believe gold has further to run—in the upside case, we target USD 3,400-3,500/oz over the months ahead,” said UBS analyst Giovanni Staunovo.

    Spot silver gained 0.4% to $31.31 an ounce, while platinum added 0.7% to $944.35. Palladium gained 1.9% to $925.43.

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    Vizsla Silver Corp. is a Strong Buy

    ByVictoria
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    Vizsla Silver Corp. (VZLA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates — one of the most powerful forces impacting stock prices — has triggered this rating change.

    The Zacks rating relies solely on a company’s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure — the Zacks Consensus Estimate.

    For Vizsla Silver Corp., rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company’s underlying business. And investors’ appreciation of this improving business trend should push the stock higher.

    Source – Zacks.com