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China International Gold Congress Presentation
July 28, 2024
Aurum Resources Limited (Aurum or the Company) (ASX: AUE) is pleased to present its investor presentation.
Click here for the full ASX Release
This article includes content from Aurum Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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20 February
8m at 8.23g/t from 65m outside 1.59Moz Boundiali MRE area
30 January
Quarterly Activities/Appendix 5B Cash Flow Report
29 January
Aurum hits 150 g/t gold at Boundiali, Cote d'Ivoire
10 January
MKG: Directors Recommend AUE's Best and Final Offer
30 December 2024
Boundiali Gold Project Maiden Resource delivers 1.6 Moz
15h
Jeffreys Find Gold Mine Gold Sales Exceed $100 Million
Auric Mining Limited (ASX: AWJ) (Auric or the Company)) is pleased to announce an update to the Jeffreys Find Gold Mine (the Project), near Norseman, WA.
HIGHLIGHTS
- Stage One & Stage Two mining generates more than $100 million in gold sales.
- Auric has received a further $1.5 million interim cash distribution making the total received to date for Stage Two of $8.1 million. This is in addition to the $4.8 million received for Stage One.
- BML advises Stage Two on target to deliver $11-$12 million cash surplus for Auric.
- Stage Two gold sold passes 17,900 ounces.
- Latest gold sold at A$4,625 per ounce, for an average of A$4,024 per ounce.
- Remaining 60,000 tonne parcel to be milled in coming months.
Management Comment
Mr. Mark English, Managing Director:
“The first ore was shovelled at Jeffreys Find in May 2023. In just a couple of years this short-life mine has now generated more than $100 million in gold sales for the Project.
“Before starting we estimated a gold price of A$2,600 an ounce. Who could have envisaged that we would be selling gold at more than A$4,600 an ounce. By any measure it’s a brilliant result.
“However, not all the money is in the bank yet. We are expecting millions more in surplus cash to be received. we are expecting millions more in cash over the next few months.
“For the 2024/25 period, Stage Two of the Project, we’ve produced more than 17,900 ounces of gold with more processing to come. Our partner BML is negotiating a toll milling agreement for a parcel of up 60,000 tonnes, which is currently on the ROM Pad at the mine site. When everything is completed, we will get the final picture on just how successful the Jeffreys Find Gold Mine has been.
“Our JV agreement with BML Ventures stipulates that only after all the gold has been sold and all costs have been paid is the final surplus cash distribution paid.
“We’ve just received a further $1.5 million as an interim payment from BML which brings us to $8.1 million in total for Stage Two payments.
“BML has advised to expect an additional $3 million to $4 million in cash payments once the last of the gold is sold.
“Jeffreys Find Gold Mine has been a defining experience for Auric,” said Mr English.
Photo: The Goodbye Cut at Jeffreys Find Pit. Photo – 27 January 2025.
Through Auric’s joint venture partner BML Ventures Pty Ltd of Kalgoorlie (BML) a total of 17,901 ounces of gold has been sold from Stage Two mining at Jeffreys Find as of 21 February 2025.
Ore was milled in multiple campaigns at The Greenfields Mill, Coolgardie (Greenfields) and at the Three Mile Hill Plant, Coolgardie (Three Mile Hill) during 2024 and early 2025.
For Stage Two the highest gold price achieved was A$4,625 an ounce whilst the average price was A$4,024 per ounce.
Click here for the full ASX Release
This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18h
Reconnaissance AC Drilling Yield Structural Targets
21 February
Editor's Picks: Gold Price Passes US$2,950, Trump Promises Fort Knox Audit
Another week, another gold price record.
The yellow metal rose to a new high once again on Thursday (February 20), moving past the US$2,950 per ounce level for the first time ever.
It's becoming increasingly clear that gold is being pushed higher by a strong base of underlying drivers, as well as day-to-day events.
Taking a look at this week's key news around gold, headlines have centered on a possible audit of Fort Knox, a US Army installation in Kentucky. Fort Knox reportedly holds 147.3 million ounces of gold, but the last-known audit took place in 1953, and in the decades since then questions have been raised about whether it is intact.
The latest audit talk started when tech billionaire Elon Musk responded to a post on X in which a user said it would be "great" to have Musk look into Fort Knox's gold. Musk responded, "Surely it's reviewed at least every year?"
Musk's comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it."
The idea has gained traction since then, with President Donald Trump quickly getting behind it — speaking to reporters on Air Force One, he said, "If the gold isn't there, we're going to be very upset."
Fort Knox has been a big story for gold this week, but there are plenty of other developments worth tracking. I spoke with Craig Hemke of TFMetalsReport.com about the continued flow of gold from London to New York, and he suggested that the mainstream narrative that tariffs are driving this move could be wrong.
Instead, he believes the US may be preparing to monetize its gold, and could be bringing the precious metal into the country for that reason. He emphasized that there are many unknowns in this situation, but pointed to recent comments from newly appointed Secretary of the Treasury Scott Bessent to support this idea.
"Within the next 12 months we're going to monetize the asset side of the US balance sheet for the American people. We're going to put the assets to work, and I think it's going to be very exciting" — US Secretary of the Treasury Scott Bessent
When asked what other under-the-radar issues we may be missing, Craig reminded investors not to forget the importance of central bank gold buying, which remains strong, and physical supply and demand numbers for gold as well as silver.
I'll leave the link to the full interview with Craig in the video description — definitely check it out if you haven't already and let me know your thoughts in the comments.
Bullet briefing — Barrick, Mali resolve disupte, Anglo, Codelco to team up
Barrick, Mali set to resolve dispute
Barrick Gold (TSX:ABX,NYSE:ABX) has reportedly signed a US$438 million deal that would end a dispute over its mining assets in Mali.
According to Reuters, the Mark Bristow-led company is now waiting for Mali's government to issue formal approval. At the time of this recording the approval had not yet come, but it's possible it will have arrived by the time this video is posted.
The dispute between Barrick and Mali has been ongoing for nearly two years, and in November resulted in the suspension of Barrick's Loulo-Gounkoto operation.
Anglo, Codelco to team up in Chile
Anglo American (LSE:AAL,OTCQX:AAUKF) and Chilean state-owned miner Codelco have signed a memorandum of understanding to jointly operate their adjacent copper mines in the country, saying it will boost copper output with little additional capital.
Their joint release states that the arrangement will increase production of the red metal by an average of nearly 120,000 metric tons per year. In total, Anglo and Codelco anticipate generating further value of at least US$5 billion before tax.
The companies expect to enter definitive agreements in the second half of 2025.
On a similar note, Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) Chief Executive Jonathan Price said in a post-earnings conference call that his company is open to collaborating with Glencore (LSE:GLEN,OTC Pink:GLCNF) on copper in Chile.
“We do recognize the potential value of some form of tie up between those two operations. And it’s something that we’ve done a good deal of work on to understand the various ways in which that value could be unlocked" — Jonathan Price, Teck Resources
Glencore made a bid for Teck in 2023, but ultimately only acquired the company's coal business.
Price said he sees "potential value" in a tie up between Teck's QB2 mine and Glencore's Collahuasi mine, but couldn't share further details on plans.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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21 February
6 Mining and Energy Stocks Make Top 10 on 2025 TSX Venture 50 List
The TSX Venture Exchange has released its annual TSX Venture 50 ranking, recognizing the top-performing companies based on share price appreciation, market capitalization growth and Canadian trading value.
Among this year’s top 10 are six companies from the mining and oil and gas sectors.
Read on to learn about the companies and their assets.
1. Sintana Energy (TSXV:SEI)
Sintana Energy, a Canadian oil and natural gas exploration company, secured the third position on the TSX Venture 50.
The company's share price rose an impressive 293 percent in 2024.
Sintana’s primary asset is its ownership interest in the VMM-37 block, located in Colombia’s Magdalena Basin. With offices in Toronto and Dallas, Sintana continues to strengthen its exploration portfolio.
2. Power Metallic Mines (TSXV:PNPN)
Power Metallic Mines ranked fourth overall on the TSX Venture 50 and saw a 365 percent increase in share price.
The company is focused on developing its Nisk project, a high-grade nickel-copper-PGMs-gold-silver asset in Québec, Canada. Nisk spans a 20 kilometer strike length, with multiple high-grade discovery zones.
Power Metallic Mines changed its name from Power Nickel, effective February 21, to better reflect the polymetallic nature of its flagship asset. CEO Terry Lynch emphasized in the announcement that the Lion zone’s high-grade copper, platinum and palladium assays necessitated a rebranding to align with the company's evolving vision.
3. Montage Gold (TSXV:MAU)
Fifth place Montage Gold, which recorded a 193 percent share price appreciation last year, is advancing the Koné gold project in Côte d’Ivoire. The project is regarded as one of Africa’s highest-quality gold assets, boasting a 16 year mine life and an annual production target exceeding 300,000 ounces for the first eight years.
With an all-in sustaining cost of US$998 per ounce, the project is well positioned for economic viability.
Construction began in late 2024, with first gold production anticipated by Q2 2027.
4. Founders Metals (TSXV:FDR)
Canadian exploration company Founders Metals came in sixth place and experienced a 196 percent rise in share price. Founders Metals is focused on the Antino gold project in Suriname’s Guiana Shield.
Covering over 20,000 hectares, Antino hosts a past-producing mine that produced over 500,000 ounces of gold.
The company recently announced a high-grade gold discovery at the Van Gogh prospect, reporting an intersection of 28.5 meters at 7.12 grams per metric ton gold from a 2025 drilling campaign.
5. Q2 Metals (TSXV:QTWO)
Q2 Metals secured ninth place with a 214 percent share price appreciation.
The company is focused on its lithium projects in Québec’s Eeyou Istchee James Bay region.
Last year, the company acquired the Cisco lithium project, which comprises 767 claims across 39,389 hectares. Q2 Metals is also actively advancing the Mia lithium project, which hosts the MIA 1 and MIA 2 lithium occurrences along a 10 kilometer trend. Additionally, it owns the 3,972 hectare Stellar lithium project located near the Mia project.
6. Artemis Gold (TSXV:ARTG)
Artemis Gold rounds out the list in 10th place with a 118 percent share price appreciation. The company is focused on developing the Blackwater mine in BC, which holds a gold resource of over 10 million ounces.
The project has secured key regulatory approvals and is expected to become one of Canada’s largest gold mines. This January, Artemis announced its first gold and silver pour at Blackwater, marking a major milestone.
President and Chief Operating Officer Jeremy Langford noted that the crushing circuit has exceeded nameplate throughput, and the milling circuit is performing as expected. Commercial production remains on track for Q2 2025.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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20 February
Experts: Battery and Precious Metals Emerging as New Geopolitical Battleground
The rapidly changing metals landscape and where to invest were key themes addressed during the Commodities and Financial Markets session at this year's AME Roundup in Vancouver, BC.
Rowena Alavi-Gunn, senior analyst at Wood Mackenzie, started her presentation “Battery Powerplay — Are Battery Metals Still Investable?” by recounting the challenges battery metals faced in 2024.
“I've picked this topic because battery metals have had a fairly rough 2024," she said.
"We've seen low prices, weak demand, increasing costs — and generally sentiment is maybe sour towards them. And then on top of that, there's geopolitical uncertainty,” Alavi-Gunn noted. Recent election results and weaker-than-expected electric vehicle (EV) demand may also be deterring investors from entering the battery metals sector.
Even so, the broad fundamentals remain positive for key metals like lithium, nickel, cobalt and graphite.
“I think there's an opportunity for countercyclical investment in battery metals,” she explained.
Trump policies threaten US EV growth
Speaking about freshly inaugurated US President Donald Trump, Alavi-Gunn underscored that US EV proliferation could be hampered by the new administration. Trump could ease EV compliance rules, reduce subsidies and impose tariffs on Chinese batteries and Mexican auto imports, making EVs less competitive.
As a result, US plug-in vehicle sales could drop from 30 percent to 20 percent penetration, with hybrids gaining market share. This shift could reduce US battery demand by 20 percent.
However, outside the US the global EV outlook remains largely unchanged.
“Overall, we see very strong growth in EVs going forward,” Alavi-Gunn said, using a chart to illustrate her point. “Plug ins are growing at nearly 10 percent a year. Hybrids are growing at about 6 percent a year.”
While this steady increase in EV purchases is the largest contributing factor for the battery metals sector, each metal also has other end-use segments that offer support.
“We're seeing very strong demand growth across all of the battery metals,” the Wood Mackenzie analyst noted. “Lithium, obviously, is just crazy, but the other battery metals are still growing pretty strong.”
IRA decisions could impact graphite supply
Although Trump’s decisions around the Inflation Reduction Act's EV incentives — in particular the 30D tax credit for new clean vehicles — are expected to have little impact on global battery demand tallies, Alavi-Gunn noted that the graphite market could be impacted by the new administration’s policies.
“We think the US could have quite an impact if they keep the 30D credit in place, but they bring forward graphite inclusion,” she said. She went on to explain that graphite is a crucial component for batteries, with China dominating its supply chain. Currently US sourcing rules don’t require graphite to come from allied countries until 2027.
However, if Trump moves that deadline up, far fewer EVs will qualify for tax credits due to limited compliant supply.
As Alavi-Gunn pointed out, long-term demand for battery metals is bullish, despite a current glut in key markets.
The lithium and nickel markets are oversupplied, driven by surging production in China and Indonesia. This excess has kept prices low, but demand is expected to outpace supply by the 2030s, triggering shortages and price increases.
Cobalt also faces a similar long-term oversupply, though recycling economics could be a risk.
To fulfill the demand growth that Wood Mackenzie is projecting, Alavi-Gunn noted that billions of dollars in new investment will be required, particularly for lithium. She suggested that major mining firms, traditionally focused on iron ore and coal, may need to diversify into battery metals as these legacy commodities shrink in market size.
While lithium and nickel mines generate slightly less revenue than copper, they remain attractive investment opportunities, especially for companies looking to future-proof their portfolios.
This can be achieved through M&A or the development of new greenfield assets.
As Alavi-Gunn explained, lithium and copper assets command high premiums, making new development more cost effective, while nickel is cheaper to acquire than build.
However, greenfield projects come with risks like permitting delays.
She also noted that miners face competing demands for capital, such as shareholder returns, sustainability and diversification. While battery metals offer long-term potential, firms must act now to avoid future shortages.
The current downturn presents a countercyclical investment opportunity ahead of expected supply deficits and price surges in the 2030s, she said.
Canada's pivotal place in global supply chains
Following Alavi-Gunn’s presentation, Emil Kalinowski, director of metals market research at Wheaton Precious Metals (TSX:WPM,NYSE:WPM), took to the stage.
His 20 minute presentation started with a brief overview of the geopolitical and economic forces shaping metals markets, highlighting a disconnect between analyst forecasts and historical trends.
As Kalinowski explained, critical and in-demand resources have become a key front in geopolitical tensions, alongside artificial intelligence, space and strategic waterways like the Black and Red seas.
“The metals and mining space has become a key battleground for the great powers in the world,” he said.
As metal supply chains become increasingly politicized, he believes Canada may be the most influential nation.
“Canada, in my mind, is one of the leaders on deciding who, what and where deals can take place," Kalinowski said. "With respect to national security and economic security, logistics, supply chains — Australia is leading the way when it comes to financing projects, but Canada is getting involved on a geopolitical basis very heavily.”
Although Kalinowski’s comments came the day after Trump's inauguration, they appear to have been prophetic. Since taking office, the president has made numerous comments about the US absorbing Canada as the 51st state.
Trump has cited poor trade negotiations and subsidies as his reasons, but many have questioned the motives behind the proposal, with some speculating that the president would like to access Canada’s mineral wealth.
More recently, the Trump administration has requested US$500 billion in rare earths from Ukraine.
Analyst price predictions clash with supply realities
Switching his focus to gold, Kalinowski noted that despite bullish sentiment in the market and dramatic price increases for the precious metal, some analysts are making bearish projections.
“They are forecasting that gold prices will fall,” he told the audience.
“This is completely off the charts compared to the market and to history. I think they're wrong.”
According to Kalinowski, analyst consensus predictions for gold don’t align with supply projections.
Forecasts suggest a slight annual decline in supply through 2030 — roughly 1 percent per year — putting future supply 2 to 3 percent below historical trends dating back to the Cold War, he explained.
Alternative supply sources like scrap and recycling are also shrinking.
Unlike past decades, when investors and central banks sold off gold, projections for 2030 show these entities will be accumulating instead, reducing available supply and challenging traditional market assumptions.
“So supply is not really explaining why analysts are so bearish,” he said. “Might it be demand? I don't think so.”
In fact, global gold demand surged to an all-time high of 4,974 metric tons in 2024, fueled by strong central bank purchases and rising investment interest, according to the World Gold Council. The combination of record prices and high volumes pushed the total market value of demand to a historic US$382 billion.
Ultimately, Kalinowski attributed analysts' bearish stance on the gold price to their failure to fully account for the supply constraints, the nuanced nature of gold demand and the geopolitical factors that could drive increased buying.
Diverging paths for silver, platinum and palladium
For sister metal silver, the consensus was more optimistic, with analysts predicting long-term price growth.
As Kalinowski pointed out, historical trends suggest the silver price rises over any six year period, but forecasting remains complex. Unlike gold, silver lacks a single price-driving factor, earning its reputation as the “devil’s metal.”
Silver’s extreme financialization — where paper trades vastly outsize physical supply — makes short-term price moves unpredictable. However, long-term demand shifts are clear. Industrial use, especially in solar panels, is set to grow, while speculative demand is expected to decline — though its correlation to gold raises doubts.
Kalinowski added that a key geopolitical wildcard is government stockpiling of silver. Russia recently began adding silver to its reserves, sparking speculation that other nations may follow.
Even a tiny shift in global FOREX reserves into silver could absorb an entire year’s supply.
For Kalinowski, that raises the question: “Could silver become a strategic asset alongside gold?”
He spent the remainder of his time highlighting the seismic shifts occurring in the platinum and palladium markets. With so many supportive fundamentals, analysts are bullish on platinum long term, and the numbers support it.
While total mine supply is expected remain stable, platinum demand is being reshaped, moving away from internal combustion engines and into the hydrogen economy. According to Kalinowski, this transition is expected to drive ongoing supply deficits, with platinum stores reaching a 47 year low.
Palladium, on the other hand, faces a different story. While analysts remain optimistic in the short term, long-term fundamentals for the metal look shaky. A flood of recycled palladium from scrapped gasoline-powered cars — peaking in the mid-2030s — will add massive supply, just as demand declines by 15 percent.
Unlike platinum, palladium has no clear role in the energy transition, raising price concerns long term.
“There is no hydrogen rescue coming for the palladium market; (there is also a) tremendous amount of supply, falling demand (and) price (is) very concerning,” Kalinowski said.
With supply tightening for one and surging for the other, the two metals appear to be on diverging paths — platinum poised for strength, palladium facing pressure.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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