JD400
2 days ago
The company has news out today
The Miner
Fox Complex: Extending Mine Life; A New Mine at the Stock Property; Exploration Has Driven the Prospect of Earlier Cash Flow
June 20, 2024
Download this Press Release PDF Format (opens in new window)
TORONTO, June 20th, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report on the progress at the Fox Complex, where we are advancing a new mine on the Stock Property. Production is planned to start in the second half of 2025. Pre-construction activities of the Stock portal have commenced, which will allow access to mining of the three gold zones, West, Main and East. In addition, the portal will provide cost-effective underground drill platforms to enable testing for expected depth extensions of these three zones. Recent exploration resulted in a 29% increase in the estimated gold resources for Stock’s East Zone. The Fox Complex is comprised of several properties, including Stock, and has Measured and Indicated gold resources of 1,905,000 ounces at average grade of 4.20 g/t Au and Inferred gold resources of 549,000 ounces at average grade of 3.60 g/t Au.
continues https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2024/Fox-Complex-Extending-Mine-Life-A-New-Mine-at-the-Stock-Property-Exploration-Has-Driven-the-Prospect-of-Earlier-Cash-Flow/default.aspx
The Bank
Options expiration ‘triple witching’ and index rebalancing could create volatility Friday
Some mechanical deadlines in the stock market could give Friday’s trading an extra jolt of volatility.
June 21 is this quarter’s so-called “triple witching,” when stock futures and index options contracts expire on the same day as many highly traded individual stock options.
Triple witching can sometimes lead to abnormally high volatility as traders try to close out their options positions.
Friday is also the final day before the rebalance of many indexes followed by major funds takes effect. That includes CrowdStrike
joining the S&P 500, and a big shift in the weights of Nvidia
and Apple
in the Technology Select Sector Index. One ETF will need to acquire more than $10 billion worth of Nvidia to align with the new index weights.
https://www.cnbc.com/2024/06/20/stock-market-today-live-updates.html
Witchy Woman (2013 Remaster)
JD400
2 weeks ago
Column: Funds keep faith with copper even as squeeze fades
Reuters | June 4, 2024 | 9:46 am Intelligence Markets Europe USA Copper
The vicious squeeze on the CME copper contract appears to have largely passed but fund managers are sticking with their bullish convictions on both US and London markets.
There has been some light profit-taking as the price has retreated from last month’s record highs but fund long positioning remains elevated both on the CME and London Metal Exchange (LME).
The money surge into copper is part and parcel of a broader rotation of funds into the base metals sector but copper’s super-charged rally to a CME peak of 5.20 cents per lb and an LME high of $11,404.50 per ton has made it the star attraction.
However, Doctor Copper’s new investor friends may find their bullish resolve tested in the days ahead.
With the short-covering momentum on the CME contract now abating, fund longs are left waiting for fundamentals to catch up with their price expectations.
Fund positioning on the CME copper contract
Long and strong
Fund managers trimmed their long positions on the CME copper contract by 7.4% over the week to May 28, according to the latest Commitments of Traders Report (COTR).
However, bets on higher prices amounted to a hefty 128,344 contracts, which is still the largest bull commitment since January 2018.
The net collective long position is lower at 63,787 contracts. There has been no short capitulation. Indeed outright money manager short positions edged up by 2.0% to 64,557 contracts.
However, it’s clear that the bulk of the recent investment flow remains sitting on the long side of the market.
The situation is similar in London, where the record investment long position shrank only marginally in the week to May 20. At 105,262 contracts, it is still by some margin higher than anything seen since the LME launched its own COTR in 2018.
Squeeze dissipates
The upwards price momentum has faded as the CME squeeze has steadily dissipated, LME three-month metal currently consolidating just above the $10,000 level.
There remain pockets of tightness across nearby CME time-spreads but the immediate panic appears to be over and the cash premium over the London contract has shrunk from over $1,000 per ton in the middle of May to around $250.
Short positions have either been covered or rolled with a view to delivering physical copper.
The explosion in the arbitrage with the LME is expected to draw metal to CME warehouses in the United States.
Some 100,000 tons of copper are reported to be on their way, although nothing has yet arrived.
CME registered stocks fell another 2,256 short tons last week to a six-month low of 16,607 tons.
Chinese glut
Outside of the United States, though, copper stocks have been building.
LME headline inventory has edged up from an early-May low of 103,100 tons to a current 116,000 tons. The ratio of metal awaiting physical load-out has shrunk from 20% at the start of May to just 5%, or 6,025 tons.
The stocks build in China has been more pronounced.
Shanghai Futures Exchange warehouses hold 321,695 tons of copper, the most since April 2020.
This year has seen the usual seasonal surge around the Chinese New Year holidays but not the usual post-holiday decline. Stocks have simply continued climbing, up another 20,731 tons over the course of last week.
Local data provider Shanghai Metal Market estimates bonded warehouse stocks have also risen from under 10,000 tons at the start of the year to 76,000 tons.
Clearly, no-one is short of copper in China right now.
Waiting game
Copper’s recent rally to all-time highs has been accompanied by a profusion of headlines about the lack of supply growth relative to strong energy-transition demand.
The bull narrative has spread far beyond the closeted world of industrial metal traders to the retail investment crowd.
Fear of missing out has played its part in the buying frenzy and it’s understandable given the ever higher price forecasts being bandied around.
Hedge fund manager Pierre Andurand has grabbed the super-bull crown, telling the Financial Times he expects copper to nearly quadruple in price to $40,000 over the coming years.
It’s worth stressing the extended time-frame around that prediction because right now copper dynamics don’t look quite so bullish.
The extent of the stocks build in China is a major discrepancy in copper’s bull narrative.
The country is the world’s largest buyer of the metal but shows every sign of entering a de-stocking cycle in response to the recent price surge and still-stuttering demand.
Bullish fund managers may face a tense wait for supply-chain reality to catch up with copper’s elevated price.
(The opinions expressed here are those of the author, Andy Home, a columnist for Reuters.)
(Editing by David Evans)
https://www.mining.com/web/funds-keep-faith-with-copper-even-as-squeeze-fades/
I'm back from vacation and looking for the Mooooola
JD400
2 months ago
Argentina power supplier Central Puerto eyes stake in McEwen’s copper project
Bloomberg | May 6, 2024 | 6:47 am Latin America Copper
Two of McEwen Mining top execs step down
Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter.
After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is committed to getting involved in a second mining venture, according to one person, who like others didn’t want to be named discussing private negotiations. The company is eyeing Los Azules as well as other gold and silver sites.
Los Azules, in San Juan province, is one of several Argentine copper projects in different stages of development that could turn the country into a major supplier of the wiring metal in a decade. McEwen wants to start construction of its open pit in 2026, but first it is seeking a capital injection of $130 million to keep exploration work on track.
Billionaire Eduardo Eurnekian’s group, Corporacion America SA, has also been looking at Los Azules, according to people familiar.
Central Puerto produced 15% of all of Argentina’s electricity last year, more than any other company, according to its annual report. It continues to spend on new power plants, but has also been diversifying its commodities portfolio with investments in forestry and, now, mining. About 27% of the company is owned by a handful of wealthy Argentines — Guillermo Pablo Reca and Eduardo Jose Escasany, from the banking industry, and the Miguens Bemberg family led by Carlos Jose Miguens, who already has mining interests.
The power supplier’s incursion into mining comes amid a broader push by local outfits. Recent investment activity by Argentines includes real-estate mogul Eduardo Elsztain’s purchase last month of a stake in a gold project; Jose Luis Manzano’s winning offer to revive a former Vale SA potash site, a tender in which Corporacion America also bid; and moves into lithium by three national oil drillers.
Argentina shares vast mineral resources in the Andes with Chile, the world’s biggest copper exporter. But a mix of unpredictable politics and environmental opposition has prevented Argentina from unearthing many resources on its side of the mountains.
President Javier Milei, who took office in December on a platform to open up business, is seeking legislative approval for tax, currency and customs benefits for big, long-term investments like mining projects. Milei also wanted to scale back protections for glaciers, which impede some exploration in the Andes, but scrapped the plans as part of a bid to make his aggressive reforms more palatable.
https://www.mining.com/web/argentina-power-supplier-central-puerto-eyes-stake-in-mcewens-copper-project/
Two top McEwen Mining execs step down
Cecilia Jamasmie | May 6, 2022 | 6:05 am Careers News Canada Copper Gold
Two of McEwen Mining top execs step down
The Los Azules copper project sits in the Andes Mountains at an elevation of 3,500 metres. Credit: McEwen Mining.
Canada’s McEwen Mining (TSX, NYSE: MUX) on Friday announced that two of its top suite executives were leaving the company for personal reasons.
Chief financial officer Anna Ladd-Kruger will retire to focus on her health and family, the company said. She will depart after reporting is complete and an “orderly transition” is in place.
Perry Y. Ing, former McEwen CFO who had the same role at Kirkland Lake Gold and Mountain Province Diamonds, will assume the post on an interim basis.
Chief operating officer Peter Mah is also stepping down for personal reasons effective June 3, McEwen said. His responsibilities will be assumed on an interim basis by William (Bill) Shaver, currently the company’s director.
The Toronto-based miner said that transition plans and a search for candidates for both roles are underway.
“The focus of the company going forward is on stabilizing its operations after a challenging period, divesting certain assets, and advancing our most significant value driver, the giant Los Azules copper project,” McEwen said in a statement.
https://www.mining.com/two-of-mcewen-mining-top-execs-step-down/
JD400
2 months ago
Fascinating interview with Steve de Jong on Kitco
A decade of pain and three months of 'beautiful times' - Steve de Jong on mining's long cycles
Apr 23, 2024 Kitco Mining Interviews
Resource investors are living in the "best environment", noted Steve de Jong, CEO of VRIFY.
Last week Jeremy Szafron, anchor at Kitco News, interviewed de Jong.
De Jong discussed the impacts of high commodity prices on mining equities, the complexities surrounding mining permits, and potential increases in mergers and acquisitions.
The metal sector has been on an upswing with gold hitting several all-time highs in 2024 and copper prices rallying. De Jong noted that the cycles are long.
"Those of us been in the sector for enough years...you get three months of beautiful times and then 9 3/4 years of absolute pain," said de Jong. "Last year was just another one of those years. I'm an internal optimist. You have to be in this sector, but seeing these commodity prices take off...you hear a lot of chatter about how come the equities aren't reacting to the commodity prices. To me that's the best environment in the world because that is your opportunity. The upside is shrinking by the moment," said de Jong.
VRIFY is a technology platform that helps resource companies present their businesses. VRIFY, which is based in Vancouver, serves over 130 clients across 70 countries, including mineral exploration companies Southern Cross Gold and Integra Resources, as well as major mining companies Teck and Kinross Gold. Last year the company announced a $6 million series-A raise.
Prior to VRIFY, de Jong was president and CEO of Integra Gold, a Quebec-focused resource exploration company focused on advancing the Lamaque Gold Project. De Jong led the business from a C$10 million valuation in 2012 to a C$590 million acquisition by Eldorado Gold Corporation in 2017. The Lamaque Gold Project is now a fully operational mine which produces approximately 200,000 ounces of gold per year and employs more than 400 people from the local community.
The conversation also covered how technological advancements are reshaping exploration and investment within the mining industry, offering insights into the macro-outlook for 2024 amid rising metal prices and evolving market dynamics.
0:00 - Introduction and State of the Mining Sector
02:15 - High Commodity Prices and Their Impact on Equities
04:07 - Retail Interest and Investment Trends in Mining
06:01 - Permitting Risks and Political Impacts on Mining
08:06 - Technological Advancements and Efficiency in Mining
10:21 - The Future of Mining Exploration with AI and Tech
13:06 - Mergers and Acquisitions: Current Landscape and Predictions
16:28 - Closing Remarks and Outlook for 2024
JD400
2 months ago
The journey towards emission reduction and net-zero targets in the mining sector
Navigating net zero: can miners meet their emission reduction targets?
Many major miners have set net-zero targets for 2050 but some are unlikely to meet their ambitious interim targets. We look at progress and challenges on mining’s decarbonisation journey.
Kit Million Ross
April 19, 2024
with MMGYS Soundtrack
With climate change on everyone’s mind, emission reduction targets have become a major focus of every sector, but especially within the mining industry. The world’s biggest mining companies have set their sights on ambitious net-zero targets by 2050. However, as the deadline draws ever closer, concerns have arisen regarding the progress of these plans, with some companies even admitting they will likely miss short-term targets.
When added to reports of challenges around transparent and accurate reporting, especially with scope 3 emissions, the industry finds itself at a critical juncture, grappling with the need to balance environmental responsibility with profit and efficient operation.
Here we delve into the landscape of emission reduction efforts within the mining sector, assessing the status of companies’ targets, identifying the challenges facing the industry, and exploring the measures being undertaken to decarbonise operations. It’s time we answered the question: what steps must we take to hit net-zero targets by 2050?
While many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025.
Mining companies’ progress toward net-zero targets
Numerous industry giants have pledged to achieve net-zero emissions by 2050, signalling a collective commitment to mitigating climate impact. However, while many companies have made commendable strides towards their emission reduction targets, recent reports suggest that some companies may fall short of their interim targets set for 2025. This discrepancy underscores the complexities inherent in transitioning towards sustainable practices within a traditionally carbon-intensive industry.
However, it is important to take this with the relevant context in mind; the target itself is ambitious, aligning with the UN’s stretch goal of limiting warming to 1.5°C, and compared with other mining companies, Rio Tinto has a much higher percentage of its emissions coming from processing. Around 80% of Rio Tinto’s emissions come from processing, according to its 2023 climate change report, and processing is much harder to abate than other mining areas such as transport or sorting.
BHP has also set ambitious targets for its emissions reductions across all scopes, with a target of a 30% decrease in scope 1 and 2 emissions from 2020 levels by 2030, and a goal of net-zero operational emissions by 2050. However, there is one concerning factor hidden in the small print of BHP’s decarbonisation strategy: the company counts carbon credits in calculating its overall emissions.
Carbon credits, also known as carbon offsets, are a way of mitigating or offsetting the impact of one’s emissions by investing in climate protection projects such as planting trees. They have become wildly popular among major companies, particularly in hard-to-abate sectors such as mining – BHP is far from the only mining company to use them – but many environmental activists have criticised the use of carbon credits as a greenwashing tactic.
Many consider carbon credits as being a ‘free pass’ that allows polluting industries to appear to tackle their emissions while functionally doing nothing, and while this debate could fill an entire article by itself, it does lead well into another question: are companies being upfront enough about how they report their emissions?
The challenges of transparency in reporting emissions
Transparency in reporting remains a huge concern surrounding the mining sector’s emission reduction efforts. While many, if not all, of the major players have set ambitious targets for lowering their emissions, the lack of standardised reporting frameworks and inconsistencies in data disclosure pose a significant problem as the industry tries to assess its progress accurately. Put simply, the issue is this: how can the industry do better if we don’t know where we are starting from?
It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.
The International Council of Metals and Minerals (ICMM) is working to improve reporting standards among its members, particularly in regards to scope 3 emissions, which are regarded as some of the hardest to track. In December 2023, the ICMM released a document entitled Scope 3 Emissions Target Setting Guidance to assist decision makers at its member companies – who collectively represent a third of the global metals and mining industry – in setting clear, standardised targets for the reduction of scope 3 emissions.
The guidance laid out in this document is long and complex, and the application of it will vary between individual mining companies and operations. However, alongside a more detailed document published in September 2023, it is useful in providing a framework.
It is clear that the reduction of scope 3 emissions is key to mitigating climate change, but it is easy for companies to view this challenge as “someone else’s problem”.
As Rohitesh Dhawan, president and CEO of ICMM, said in an article published by the World Economic Forum: “A company or indeed an entire sector could wring its hands at the emissions outside of its control and make it someone else’s problem – which, technically, it is. But collectively, we would lose the climate change war because total emissions would continue to rise unsustainably.”
He added that collaboration between different parts of the value chain is key to reducing scope 3 emissions, calling this a “far better approach” to decarbonisation than solo efforts, noting that a collaborative approach “makes climate sense, and it increasingly makes business sense, too”.
However, it is worth taking this progress with a pinch of salt, and consider the context of this development. While ICMM members are required to have set short and medium-term goals for the reduction of scope 1 and 2 emissions, there is no such requirement for scope 3 emissions, meaning that for the time being, major mining companies have more opportunity to look the other way when it comes to these kinds of emissions.
Increased pressure from the ICMM, as well as increased pressure from government representatives, is a key factor in reducing scope 3 emissions and their immense harm to the climate.
Can we make it?
The journey towards emission reduction and net-zero targets in the mining sector is one of slow, steady progress and significant challenges. While many companies have taken huge strides towards their sustainability goals, concerns surrounding reporting transparency and the slow pace of change persist.
By embracing innovation, collaboration and regulatory support, the industry is poised to overcome these hurdles and pave the way towards a more sustainable future. As we navigate the path towards 2050 net-zero targets, the importance of collective action and genuine commitment to emissions reductions has never been more visible.
Only through concerted efforts and shared determination can the mining sector realise its potential as a driving force for positive change in the fight against climate change.
https://www.mining-technology.com/features/navigating-net-zero-can-miners-meet-emission-reduction-targets/
Saved by zero extended mix
JD400
2 months ago
Copper demand to boom as new technology drives power consumption, Trafigura says
with MMGYS Soundtrack
Reuters | April 22, 2024 | 5:31 am Intelligence Markets Copper
Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters.
Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already driven up demand prospects for copper cable used to conduct electricity.
Estimates of new demand from these applications vary, but Graeme Train, head of metals analysis at Swiss-based Trafigura, said one third of the 10 million tons of new demand would come from the electric vehicle sector.
“A third is electricity generation, transmission and distribution, and the rest is for things like automation, manufacturing capex and cooling systems within data centres,” he said. Growth in data centres is related to AI.
Accelerating production of electric vehicles, solar panels and grid investment in China, and a pick-up in manufacturing activity in the top consumer, has already boosted demand for copper used in the power and construction industries.
That combined with tight supplies of refined copper metal and concentrate has propelled copper on the London Metal Exchange (LME) to two-year peaks near $10,000 a ton.
Copper industry sources say part of the reason for the price surge are sliding stocks in LME registered warehouses, which at 121,200 tonnes have dropped more than 35% since October last year.
Tight supplies of mined copper or concentrate, the feedstock for copper metal, due to disruptions such as the closure of First Quantum’s Cobre mine in Panama last year have also helped fuel copper’s upward price momentum this year.
Analysts have been revising their forecasts of the copper market balance since in December when Anglo American also cut its production guidance, and some now expect significant shortages in the copper market estimated at around 26 million tonnes this year.
Train expects copper demand to be bolstered by industrialization and urbanization in the emerging world, particularly in India where consumption per person per year is only half a kg.
In China and the developed world, per capita copper consumption is 10 kgs and seven kgs respectively, he said.
(By Pratima Desai; Editing by Jan Harvey)
https://www.mining.com/web/copper-demand-to-boom-as-new-technology-drives-power-consumption-trafigura-says/
Humans Not Needed (Artificial Intelligence Composed Music | Beatles Inspired Pop Song)
Go $MUX...............
.....Go Green.....................
..........Go McEwen Copper............
JD400
2 months ago
McEwen Mining Announces Friendly Acquisition of Timberline Resources
April 16, 2024
TORONTO, April 16, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX)(TSX: MUX) (“McEwen”) is pleased to announce that it has entered into a definitive agreement and plan of merger (the “Agreement”) to acquire all of the issued and outstanding shares of Timberline Resources Corporation (TSXV:TBR)(OTCQB:TLRS) (“Timberline”) by way of a merger between Timberline and a subsidiary of McEwen (the “Transaction”). The Transaction will augment McEwen’s existing portfolio of development and exploration projects in Nevada.
Timberline shareholders will have the right to receive 0.01 of a share of McEwen’s common stock for each share of Timberline’s common stock (the “Exchange Ratio”), representing a value of US$0.102 per Timberline share, calculated based on the 20-day volume weighted average trading price of McEwen’s shares on the NYSE at the close on April 15th, 2024. This represents an 132% premium to Timberline’s 20-day volume-weighted average price on the OTCQB. McEwen currently owns 6.25 million Timberline shares representing approximately 3.3% of Timberline’s basic common shares outstanding and 6.25 million Timberline warrants. Excluding McEwen’s existing ownership, McEwen expects to issue approximately 1.84 million shares on closing for a transaction value of US$18.8 million.
The closing of the Transaction is subject to customary conditions, including receipt of necessary regulatory and stock exchange approvals and approval from Timberline’s shareholders holding a majority of its outstanding shares.
Timberline’s board of directors has unanimously recommended that Timberline’s shareholders vote in favour of the Transaction. The directors, officers and two principal shareholders of Timberline, holding shares reflecting approximately 40% of Timberline's aggregate outstanding shares, have entered into voting and support agreements with McEwen, pursuant to which they have agreed, among other things, to vote their shares in favour of the Transaction.
The Agreement includes customary deal-protection provisions. Timberline has agreed not to solicit or initiate any discussion regarding any other business combination or acquisition. In the event that Timberline validly terminates the Agreement to accept a superior offer, Timberline will be required to pay McEwen a termination fee of US$400,000.
Each Timberline warrant outstanding immediately prior to the closing of the Transaction will remain outstanding and be converted into a warrant to acquire McEwen shares based on the Exchange Ratio. Each Timberline stock option outstanding and in-the-money immediately prior to the closing of the Transaction will automatically vest and be converted into the right to receive McEwen shares at the Exchange Ratio less the exercise price per stock option; all other outstanding Timberline stock options will be cancelled.
https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2024/McEwen-Mining-Announces-Friendly-Acquisition-of-Timberline-Resources/default.aspx
................................
$MUX McEwen Mining Rolls in Timberline Resources
Lets take a quick glance of the property in this 2019 video
Timberline Resources advancing district-scale Gold and Copper Exploration and Development Projects
Mar 27, 2019
Timberline Resources is a mineral exploration company focused on gold and copper discoveries in north-central Nevada, USA
Timberline's district-scale Elder Creek-Paiute and Eureka properties are located within the prolific Battle Mountain-Eureka Trend, one of Nevada’s world class mineral belts with active multi-million ounce gold, and copper-gold mines.
Elder Creek / Paiute Projects - Battle Mountain Mining District
- Copper-Molybdenite-Gold-Silver discovery
- Partnerships with Barrick Gold and McEwen Mining subsidiaries
- Follow-up offset drilling of discovery hole to target a strong geophysical anomaly
Eureka Gold Project, Eureka District
- Gold discovery in a 5 km drill-defined trend
- NI 43-101 gold resource of 508,000 oz (M&I), 141,000 oz (Inf); open in all directions
- Priority exploration of an adjacent, higher-grade, geophysically-defined gold zone
JD400
2 months ago
$MUX McEwen Mining to buy remaining stake in Timberline Resources
Reuters | April 16, 2024 | 9:55 am Markets Canada USA Copper Gold
Talapoosa gold project in western Nevada, 45 km east of Reno. Credit: Timberline Resources
Canadian miner McEwen Mining entered into a deal to acquire all outstanding shares of Timberline Resources that it doesn’t already own, the companies said on Tuesday.
McEwen currently owns 6.25 million Timberline shares, or around 3.3% of the company, along with 6.25 million warrants.
Excluding existing ownership, McEwen, which has operations in Nevada, Canada, Mexico and Argentina, expects to issue around 1.84 million shares on closing for a transaction value of $18.8 million.
Timberline shareholders will receive 0.01 of a share of McEwen’s common stock for each Timberline share held, representing a value of $0.102 per Timberline share, or a premium of 132%, the companies said.
Timberline Resources, a Nevada based exploration company focused on gold and copper discoveries, would be required to pay McEwen a termination fee of $400,000 if it terminates the agreement.
(By Seher Dareen; Editing by Shailesh Kuber)
https://www.mining.com/web/mcewen-mining-announces-deal-to-buy-remaining-shares-of-timberline-resources/
JD400
2 months ago
Digging Deeper: Exploring the Depths of Mining
Streamed live 10 hours ago #Mining #Benzinga
Digging Deeper: Exploring the Depths of Mining is a can’t miss event that explores the depths of innovation with the mining industry. Join us for a captivating journey as we navigate through the transformative landscape, discovering the latest technologies, sustainable practices, and strategies propelling mining into a new era.
Patricia Mohr, Economist & Commodity Market Specialist & Former VP at Scotiabank | Mohr & Co. Critical Metals Inc.
Rick Rule, Founder, President & CEO - Rule Investment Media LLC.
https://www.ruleinvestmentmedia.com
Alex Wylie, CEO - Volt Lithium Corp.
https://voltlithium.com/
Warwick Smith, CEO & Director - American Pacific
https://americanpacificmining.com/
Stephen Rentschler, CEO - Nevada Lithium
https://nevadalithium.com/
(CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K)
Rob McEwen, Chairman & Chief Owner - McEwen Mining
https://www.mcewenmining.com/
Luke Norman, Executive Chairman & Co-Founder - US Gold Corp
https://www.usgoldcorp.gold/
(NASDAQ: USAU)
JD400
2 months ago
Copper is entering a new bull market phase, Citi says
Bloomberg News | April 9, 2024 | 4:40 am Intelligence Markets China Copper
with MMGYS Soundtrack
Copper has entered its second secular bull market this century, Citi analysts said, as the metal traded near a 15-month high.
Prices have risen over 10% this year as disruptions at major mines threaten refined metal production at the Chinese plants that account for more than half the world’s supply. The Federal Reserve’s expected pivot this year to easier monetary policy is also brightening the outlook for the global economy.
Still, China is grappling with a prolonged property crisis and sagging consumer confidence. The country’s smelters, which produce more than half the world’s refined copper, are considering output cuts after processing fees fell near zero.
“Copper’s second secular bull market this century is being driven by booming decarbonisation-related demand growth,” the Citi analysts wrote in a note. “Only higher prices will solve these deficits.”
During copper’s bull market of the 2000s, prices rose more than five-fold in three years, driven by urbanization and industrialization in China. Citi recommends corporate consumers hedge their copper exposures, because there is potential for “explosive price upside” again over the next three years.
Prices briefly dipped in the London morning, before recovering, as LME data showed inventories jump by the most since September. Copper was up 0.4% to $9,449.00 a ton on the London Metal Exchange as of 11:04 a.m. in London, after prices hit $9,484.50 a ton on Monday, the highest since January 2023.
Other base metals were higher, with zinc rising 1.4% as Chinese output faces risks due to a collapse in treatment charges at smelters.
https://www.mining.com/web/copper-is-entering-a-new-bull-market-phase-citi-says/
Little Feat - Let It Roll
JD400
3 months ago
Chinese Copper Demand Lifting All Boats
Copper miners glimpse the future they’ve long seen coming
Bloomberg News | April 5, 2024 | 7:50 am Intelligence Markets Top Companies China Latin America Copper
with MMGYS Soundtrack
Chile's mining production up 7.7% in February
For much of the past decade, there’s been a widely accepted orthodoxy in the mining industry that copper is the place to be.
Its champions have pointed to a likely explosion in demand as the global economy electrifies and decarbonizes, while fresh supply has looked increasingly scarce.
Instead, the metal has largely been overshadowed by old-industry stalwarts such as iron ore and coal, which have driven record profits for mining’s biggest names in recent years.
Yet a supply shock and growing confidence in an economic recovery are now seeing copper take center stage.
Production concerns have been fueled by Panama’s order late last year to shut a giant First Quantum Minerals Ltd. mine, removing roughly 400,000 tons of the metal from the world’s annual supply.
Behemoth Anglo American Plc then stunned investors by saying it was scaling back output by about 200,000 tons.
The market initially shrugged off these cuts as consumption looked anemic. But that’s changing as manufacturing — perhaps the most important demand metric for copper — shows signs of picking up almost everywhere.
In China, the official manufacturing purchasing managers’ index expanded in March for the first time since September, while preliminary data from India points to some of the strongest growth for the industry in years.
That’s catapulted the commodity to the highest prices in more than a year, up almost 9% so far in 2024.
While metal markets often move in tandem — with Chinese demand lifting all the boats — at the moment that’s not the case. Iron ore remains under pressure, while coal continues to slide.
That’s allowed the pure-play copper producers to lure investors who have cooled on the large, diversified miners — whose profits are dominated by iron ore.
Copper specialist Antofagasta Plc has gained almost 30% this year, while Freeport-McMoRan Inc. is up about 15%. By contrast, mining’s biggest names — BHP Group Ltd. and Rio Tinto Group — are both down around 14%.
(By Thomas Biesheuvel)
https://www.mining.com/web/copper-miners-glimpse-the-future-theyve-long-seen-coming/
Go $MUX.........
......Go Green.............
...........Go McEwen Copper......
JD400
3 months ago
Gold price shatters new records as Mideast tensions add to bullish mix
Reuters | April 2, 2024 | 3:36 pm Intelligence Markets USA Gold
with MMGYS Soundtrack
Gold scaled yet another record peak on Tuesday as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a stronger dollar and tempered bets for US rate cuts.
Spot gold was up 0.8% at $2,268.44 per ounce by 2:07 p.m. EDT (1807 GMT), after hitting an all-time high of $2,276.89.
US gold futures settled 1.1% higher at $2,281.8.
“We’re seeing some safe-haven demand flowing into gold, which relates to the Israeli strikes on Iran’s embassy in Syria,” said Daniel Ghali, commodity strategist at TD Securities.
The latest leg up in gold prices is probably also associated with short covering from family offices and proprietary trading shops, Ghali added.
Iran vowed to take revenge on Israel for an airstrike on the Iranian embassy compound in Damascus.
Saxo Bank’s Ole Hansen said an underlying bid from retail and central banks was being joined by momentum-following speculators who have extended their already elevated longs following gold’s break above $2,200.
The mix of bullish tailwinds has driven bullion nearly 10% higher so far this year.
“What makes the gold rally so unusual is that it is occurring despite significant traditional headwinds with the US dollar rising, Treasury yields rising, the likelihood of higher for longer US rates increasing,” said independent analyst Ross Norman.
The dollar jumped after Monday’s data showed US manufacturing grew for the first time in 1-1/2 years in March.
Traders pared bets of a June interest rate cut to 58% versus around 60% before the data, which under normal circumstances, would pressure zero-yield bullion.
But while the gold market remains in a “highly bullish mood”, it probably needs to consolidate amid a shift back to a more hawkish view of Federal Reserve policy, said Tai Wong, a New York-based independent metals trader.
Silver rose 3.2% to $25.89 per ounce, platinum added 2.4% to $923.00 and palladium climbed 0.1% to $996.88.
(By Anjana Anil, Brijesh Patel and Polina Devitt; Editing by Emelia Sithole-Matarise and Vijay Kishore)
https://www.mining.com/web/gold-shatters-new-records-as-mideast-tensions-add-to-bullish-mix/
The Muskrat down by the river says if we break $17 we will see $50 in two years and should we see 50 it will run to $95 two years after that .
That's the way these top-tier large deposits stocks run,
Then he went back to chewing on a cattail.
JD400
3 months ago
$MUX McEwen Mining's Stock Soars. Exclusive Interview with Rob McEwen.
Mar 30, 2024 NASHVILLE
McEwen Mining has soared 71% in share price since announcing outstanding results on Feb. 29, 2024. We'll be talking about how the company doubled their revenue in the 4th quarter of 2023 and the development progress of McEwen Copper with McEwen Mining's Chairman and Chief Owner Rob McEwen. As you might have heard, copper is essential to electric cars, solar, wind and computers, and is one of the most important commodities of the future. (Learn more in our Copper blog. Link below.)
https://www.nataliepace.com/blog/copp...
Here are a few things that Natalie Pace will ask Rob McEwen about in this free videoconference.
McEwen’s Huge Share Price Surge After Announcing 4Q 2023 Earnings
What Lies Ahead for 2024?
Los Azules Copper Mine Timeline
Challenges of Development to Production
The World’s 1st Regenerative Copper Mine
Gold and Silver Prices. Where are they headed?
Copper Prices? Back to 2021 highs, or down to 2008 lows?
Is McEwen Mining Undervalued?
Be sure to share this videoconference with your friends. It is available as a podcast on Substack, Apple & Spotify. (Check out the links below.)
https://nataliepace.substack.com/
https://podcasts.apple.com/us/podcast...
https://open.spotify.com/show/3m8TpT9...
Here are links to some of the web pages that are mentioned in this videoconference, as well as other important sustainability resources.
The World's 1st Regenerative Copper Mine (video)
• McEwen Copper Los Azules Jason McLenn...
http://www.nataliepace.com/
Copper Blog
https://www.nataliepace.com/blog/copp...
https://www.amazon.com/dp/B09GN6G4KL
https://www.nataliepace.com/retreat20...
https://earthgratitude.org/
https://www.amazon.com/dp/B09VFVBGRS
http://www.nataliepace.com/
JD400
3 months ago
The Billion Dollar Class Action To Stop Naked Short Selling In Canada
AGORACOM IR
Mar 29, 2024
Naked Short Selling has cost Canadian junior mining companies $40 Billion - and that number balloons to over $500 Billion when you include all Canadian small cap companies - according to Terry Lynch.
Terry Lynch is the CEO of Power Nickel and the co-Founder of "Save Canadian Mining", the small cap stock advocacy group backed by industry giants such as Eric Sprott, Keith Neumayer, Robert McEwen and multiple sponsors who have worked tirelessly and given generously over the last 4 years to conduct research, create reports and meet with key government officials & regulatory bodies … for the singular purpose of putting an end to the devastating practice of illegal short selling in the Canadian small cap market.
BLACK FRIDAY
A few months back on Black Friday, the team behind Terry grew even bigger and better with the addition of Wes Christian and David Wenger to host a live webcast discussing the problem at greater depth, including new case law that opened the door to holding Broker-Dealers liable for failing to fulfill their "Gatekeeping Responsibilities" of monitoring client trading actions.
Over 1,500 small cap companies and industry participants were in attendance, further demonstrating the gravity of this potential existential threat to Canadian small caps.
GOOD FRIDAY
If that Black Friday webcast was the low point of frustration, anger and despair in the small cap world, today’s Good Friday video is the good news turnaround point (dare we say resurrection?) because Terry and his team have not only discovered the shocking mechanism to facilitate the firehose of naked short selling - but along with it the specific actions now required to be taken by the small cap industry to stop it, including a mass grassroots publicity campaign culminating in a Billion Dollar class action lawsuit.
POLITICIANS WILL GET WEEKS NOT MONTHS
Save Canadian Mining plans to present this new and final evidence to the Doug Ford administration in order to give them the opportunity to act. But when asked how much time SCM will wait for concrete action Lynch responded “Weeks Not Months”.
Lynch added “I want Doug Ford to be the hero. But they have to wake up because we are not waiting”
THE BILLION DOLLAR CLASS ACTION LAWSUIT
In the meantime, the march towards the Billion Dollar class action lawsuit has begun and will not stop. Lynch wouldn’t provide the names of specific targets for strategic reasons but he discusses why just 10 companies will be needed to begin the class action (3 are already confirmed) and how companies can contact him to round out the slate.
THE PLAN TO MOBILIZE OVER 1,000 SMALL CAPS AND THEIR INVESTORS
While the class action ramps up, we have put together a plan to mobilize over 1,000 small cap companies and their investors with collateral that has already been drafted and only requires company specific personalization including:
- Letter to shareholders
- Press release
- Social media posts for all platforms for companies AND shareholders
The goal? 100,000 posts
Thank you for now taking the time to watch this video and please be sure to share it with your networks across all of your social media platforms.
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tredenwater2
6 days ago
