Closing rates for silver and gold in Mumbai show significant valuations, with silver priced at Rs 99,641 per kilo, standard gold (99.5 purity) at Rs 90,750, and pure gold (99.9 purity) at Rs 91,115.
Source – Devdiscourse
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
With prices for most of its popular products ranging from 10,000 to 50,000 yuan, Laopu now competes more directly with Western luxury brands such as Tiffany and Cartier.
As rising gold prices in 2024 pushed investors toward bullion and coins and gold jewellery sales in China fell 24.69% to 532.02 tonnes, Laopu twice raised prices on its designer jewellery and trinkets. It again upped prices by 5-12% last month.
But analysts say Laopu is a contender to fully break through the luxury glass ceiling.
“It’s not an imminent threat to global luxury groups because to build a luxury brand takes a long time. You need a story, you need a history, you need the craftsmanship, but it’s possible,” said Jonathan Yan, a principal at consultancy Roland Berger in Shanghai.
Source – Reuters
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
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
Bullion-backed exchange traded funds (ETFs) reported returning net inflows last month, meaning half-year flows reached levels not seen for five years, data from the World Gold Council (WGC) showed.
Total holdings rose by 75 tonnes last month, the WGC said, to 3,616 tonnes. This was the highest for 34 months.
Inflows were valued at $7.6 billion, which in turn drove cumulative assets under management (AUMs) to $382.8 billion an all-time peak.
The WGC said that “North America accounted for the bulk of inflows, recording the strongest first half in five years.” It added that “despite slowing momentum in May and June, Asian investors bought a record amount of gold ETFs during the first half, contributing an impressive 28% to net global flows with only 9% of the world’s total AUMs.”
Source – Forbes
