The price of gold rose 1.4% to $2,941 per troy ounce in trading Tuesday, putting it 0.2% off its record high notched last week, according to Dow Jones Market Data.
“After missing several (brief/ shallow) buying opportunities in 2024, investors are likely wary of repeating the same patterns and may want to take advantage of corrections sooner this time around,” analysts wrote.
Source – Barron’s
The SPDR Gold Shares ETF was up 3.3% in morning trading, according to FactSet data, at last check. That brought its year-to-date gain to a massive 30.6%.
Source – Market Watch
This is an update on the 5 year project possibly longer.
Shares of Vizsla Silver shot up by 12.0% during the morning session, trading at a near 52-week high of $2.76 apiece.
“This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan,” Vizsla CEO Michael Konnert said in a statement.
Source – Mining.com
News on this topic from October 2020.
Vizsla President and CEO, Michael Konnert, commented: “Recent drilling continues to grow the Napoleon discovery area where the best new intercepts are from the deepest holes completed. Mineralization has been extended to the south over 50m and is completely open at depth. The broad intercepts in NP-20-25 and NP-20-27 as well as the internal high-grade veins increase the possibility of both open pit and underground mining scenarios. The Company’s aggressive exploration program is targeting three vein corridors in the district and it is exciting to see the benefit of systematic drilling around our multiple discoveries, particularly the addition of significantly more mineralization at Napoleon.”
Source – Junior Mining Network
Benchmark copper on the London Metal Exchange (LME) was up 0.4% at $9,418 a metric ton by 1000 GMT, having hit a peak of $9,481.50 in the previous session for its highest since April 3.
“It’s almost impossible to see what is happening from one day to the next. No doubt the tariff optimism that triggered the risk-on rally early in the week has faded again,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
U.S. Comex copper futures gained 0.5% to $4.87 a lb, bringing the premium over LME copper to $1,314 a ton.
Source – Business Recorder
NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.
New Gold’s copper production was at 14.5 million pounds for the fourth quarter, up 20% year over year. The annual copper production totaled 54 million pounds, within the company’s guidance of 50-60 million pounds.
The New Afton mine produced 19,652 ounces of gold and 14.5 million pounds of copper in the fourth quarter. Gold production increased 19% and copper production rose 15% from the third quarter of 2024. The B3 cave performed per expectations.
Source – Zacks
Vicuña Corp, a joint venture of Australia’s BHP and Canada’s Lundin Mining (LUN.TO), opens new tab, on Thursday said it was extending the useful life of its Josemaria copper, gold and silver project in Argentina by six years.
It attributed the longer useful life of the mine, now 25 years instead of 19 years previously, to higher levels of exploitable resources.
Vicuña also predicted an ore processing rate at the site, located in Argentina’s north-western San Juan province, near the Chilean border, at 175,000 metric tons per day.
Source – Reuters
In 1979, a couple using a metal detector in the Kalgoorlie Goldfields of Western Australia located a massive gold nugget. Known today as the “Golden Beauty,” the nugget weighs in at nearly 10 pounds.
It is currently on the auction block. According to Heritage Auctions, the opening bid was $400,000.
At the current spot price, the gold is worth around $481,800.
“Gold always has been enormously popular, in part because of its pure value and beauty, but also because it is exceedingly rare,” Heritage Auctions vice president of nature and science Craig Kissick said.
Source – Money Metals