Platinum Spot Price
Source – APMEX
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Australia’s Gold Road rejects Gold Fields proposal
Australia’s Gold Road Resources rejected a $2.1 billion takeover proposal from Gold Fields, calling the offer opportunistic following a drop in quarterly production.
The all-cash proposal was made earlier this month against a backdrop of surging gold prices, which recently surpassed $3,000 a troy ounce for the first time as economic uncertainty fuels demand for the metal as a perceived safe haven.
“Gold Fields will continue to seek the engagement of the Gold Road board to consider the merits of the proposed acquisition and to advance the proposal,” said Mike Fraser, chief executive of Gold Fields.
Source – Wall Street Journal
Silver Storm Files Technical Report and debt settlement
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
Gold’s price gains jewellery demand
A 12% y/y drop in Q4 gold jewellery consumption to 547t- took the annual total down to 1,877t, down 11%, as unrelenting gold price strength impacted consumers’ ability to buy, the World Gold Council (WGC) said in a report on Wednesday.
For 2025, the WGC said central banks and “ETF investors likely to drive demand with economic uncertainty supporting gold’s role as a risk hedge, but on the flipside, keeping pressure on jewellery.”
Source – Seeking Alpha
US Copper’s updated PEA estimates NPV over $1 billion
Moonlight – Superior project in California
The study envisions a mine life of 14 years, producing 903,000 tonnes of copper, plus 12 million oz. of silver and 63,000 oz. of gold. A majority of the production will come from mining the sulfide mineralization at Moonlight-Superior.
US Copper CEO Stephen Dunn said the PEA, which a culmination of several years of planning, drilling, metallurgical testing and engineering studies, confirms “substantial economic opportunity” at current copper prices that can be realized through the development of a series of open pit mines on the property.
PEA – preliminary economic assessment
NPV – Net Present Value
Source – Mining.com
Barrick Gold signs new agreement with Mali’s government
Barrick Gold (NYSE:GOLD) +3.2% in Wednesday’s trading to its highest in more than two months following a Reuters report that the miner has signed a new agreement with Mali’s government, which would end the dispute over the company’s mining assets in the country.
As part of the new deal, Barrick (GOLD) reportedly will pay 275B CFA francs, or $438M, to the government in return for the release of detained employees and seized gold, allowing for the restart of operations at the Loulo-Gounkoto mine.
Source – Seeking Alpha / Reuters
Copper sits at 10-week highs
The threat of U.S. trade measures against China has weighed on industrial raw materials since the November election, with prices pressured earlier this week when Trump said he could impose a 10% levy on Chinese goods.
Source – Seeking Alpha