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Gold Miners Reaping A Record Cash Harvest

ByVictoria

Goldman Sachs is tipping a continued rise in Newmont’s share price with a target for its New York listed shares set at $47.20, up 17% on last sales at $40.23 while the company’s Australian listed shares are forecast to rise from A$64.80 to A$76.20.

Strong central bank demand is expected to continue lifting the gold price towards $3000 an ounce from its current $2670/oz, according to Goldman Sachs

“We expect our Australian gold coverage is set for a growing cash harvest over the next 12-months as price increases outweigh cost escalations, supporting further balance sheet strength, growing capital returns and prospective merger and acquisition activity,” Goldman Sachs said.

Source – Forbes

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Harvesting (in finance), also known as an exit or liquidity event, is the act of cashing out of an ownership position in a company.

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Silver could still outperform gold in second half of 2025

ByVictoria
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“The white metal may get squeezed, as recovering Asian demand absorbs recent inventory builds in the aftermath of the Chinese slowdown and the base metal concentrate processing capacity increases,”

“We project the metal to average $36/oz in the final months of next year, making it a commodity outperformer as the XAU/XAG ratio challenges yearly lows.”

“With its low correlation to traditional assets such as equities and bonds, silver offers powerful diversification benefits,” Silver Institute said. “Historically, silver has proven its value during times of economic and geopolitical crises, serving as a reliable hedge against inflation, currency devaluation, and systemic financial instability. In the context of the modern global landscape, this role has become even more pronounced.”

Source – KITCO NEWS / written by Ernest Hoffman

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Codelco boots copper 2024 but strains workers, delays maintenance

ByVictoria
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An internal document seen by Reuters showed Codelco’s production reached 1.328 million tons in 2024, at the low end of its target range and just about 3,500 tons higher than the quarter-century low in 2023.

The worker, who asked not to be identified because they were not authorized to talk about internal operations, said Codelco has yet to fix bottlenecks in transporting minerals in the mine.

Cristian Cifuentes, an analyst at the Center for Copper Studies (CESCO), said that the Ministro Hales mine is still at reduced capacity and the ramp up of Chuquicamata Underground has been “slower than we all thought.”

Source – Reuters

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Gold rose but weaker than expected: December report

ByVictoria
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Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.

Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.

“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.

Source – Reuters

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Silver price remains below $30.00 due to improved market sentiment

ByVictoria
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Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.

People’s Bank of China (PBOC) Governor Pan Gongsheng stated on Monday that “interest rate and reserve requirement ratio (RRR) tools will be utilized to maintain ample liquidity.” Gongsheng reaffirmed China’s plans to increase the fiscal deficit and emphasized that China will continue to be a driving force for the global economy.

Source – FX Street

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Jubilee Metals face power challenges in Zambia

ByVictoria
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“Over the past quarter, we have experienced significant challenges in our Zambian operations brought on by a combination of extraordinary circumstances outside of our direct control. We have addressed the power supply challenge by entering into an additional power supply agreement that sources power across a broader generation network to avoid localised exposure to network instabilities and a single power generation plant,” said Leon Coetzer the CEO of Jubilee Metals

Copper run-of-mine (ROM) and in process stock for Jubilee also increased sharply, reaching 1.21 million tons containing an estimated 8 466 tons of copper units now earmarked for future processing.

Source – Business Report

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