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World Copper CEO Gord Neal needs partners to advance Zonia Copper project, Arizona

ByVictoria

“The next phase of getting (Zonia) into production is a bankable feasibility study so you can fund it. A bankable feasibility study is going to cost $5 million to $7 million, and we don’t have that right now,” Neal said.

“The plan is to get it there, but we’re going to need partners to help us get it there. So that’s why (we’re doing) the strategic review, and it looks like we’ll have an announcement in the next few weeks on one of these opportunities.”

Source – Investing News Network (full interview video with CEO Gord Neal)

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    ByVictoria
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    Bullion traded around $3,020 an ounce, less than $40 shy of the record high reached last week. Gold-backed ETFs have added about 154 tons so far this year, according to data.

    Spot gold rose 0.3% to $3,021.31 an ounce as of 11:18 a.m. in New York, snapping three days of losses. The Bloomberg Dollar Spot Index fell 0.2%. Silver, platinum and palladium all advanced. 

    Source – Bloomberg

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    John Paulson predicts gold to reach $5000

    ByVictoria
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    Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects

    Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.

    “It’s a well-informed prediction. I think that’s a reasonable number,” he said.

    “As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added

    Source – Reuters

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    ByVictoria
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    In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.

    “Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.

    Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.

    Source – Reuters

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    Tariff threat opens up transatlantic rift in copper pricing

    ByVictoria
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    U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.

    The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.

    Source – Reuters / Written by Andy Home / Opinion