The Conversation (0)
July 21, 2024
Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to present its Quarterly Activities and Cash Flow Report.
Summary:
Exploration / Growth
- High-grade assays from the 952koz Never Never Gold Deposit including the deepest-ever result from the Dalgaranga Project:
- 12.54m @ 14.32g/t gold from 570.91m, incl. 2.52m @ 67.49g/t (DGRC1430- DT)
- 13.75m @ 10.08g/t gold from 667.00m, incl. 3.00m @ 38.10g/t (DGRC1429- DT)
- 12.80m @ 8.13g/t gold from 603.00m, incl. 1.00m @ 96.47g/t (DGDH055)
- 10.50m @ 7.95g/t gold from 1,042.50m (DGDH064) – deepest “project” assay
- 11.60m @ 15.10g/t gold from 861.40m (DGDH068)
- 19.67m @ 19.43g/t gold from 765.33m, incl. 3.74m @ 62.98g/t (DGDH066)
- 10.14m @ 11.26g/t gold from 966.6m, incl. 0.77m @ 126.45g/t (DGDH064- W1)
- Assays from significant new high-grade gold discovery at the Pepper Prospect, immediately south of Never Never, including:
- 17.52m @ 15.86g/t gold from 522.0m, incl. 9.22m @ 27.89g/t (DGRC1432- DT)
- 11.28m @ 5.94g/t gold from 585.72m (DGDH069)
- 14.73m @ 11.42g/t gold from 553.73m, incl. 4.37m @ 36.80g/t (DGDH070)
- 17.67m @ 6.58g/t gold from 561.85m, incl. 7.53m @ 11.93g/t (DGDH069- W1)
- 25.24m @ 16.66g/t gold (uncut) from 616.41m (DGRC1431-DT-W1), incl:
- 5.21m @ 18.74g/t, 4.65m @ 52.46g/t and 5.44m @ 12.39g/t gold in three separate high grade sub-intervals within the overall high-grade drill intercept.
- 30.79m @ 12.12g/t gold from 647.67m, incl. 3.47m @ 92.19g/t (DGRC1431- DT)
- Further positive assays from West Winds and Sly Fox:
- 28.65m @ 4.25g/t gold from 458.00m, incl. 4.60m @ 18.30g/t (DGRC1446- DT)
- 23.60m @ 2.45g/t gold from 457.40m, incl. 7.00m @ 4.07g/t (DGRC1408-DT)
- 24.00m @ 1.58g/t gold from 250.00m, incl. 7.00m @ 3.24g/t (DGRC1436)
- Updated Mineral Resource Estimates for Never Never and Sly Fox, as well as maiden standalone MRE’s for the Four Pillars, West Winds and Pepper Gold Prospects due for imminent release.
- Development of the underground exploration drill drive awarded to Barminco with commencement in Q3 2024. Finalisation of approvals and support activities well in train. The decline will provide underground drill platforms to more effectively define existing deeper resources, explore for further high-grade targets and shoots, and provide critical underground infrastructure as Spartan develops its future mine plan.
Care and Maintenance (Dalgaranga)
- Mining and processing operations remained on care and maintenance, with scheduling of ongoing care and maintenance activities underway to maintain the process plant and associated site infrastructure.
Corporate
- Successful $80.0 million capital raising completed, comprising a $69.0 million Placement and Accelerated Institutional Entitlement Offer and an $11.0 million Retail Entitlement Offer.
- Mr Hansjoerg Plaggemars resigned as a Non-Executive Director, effective 30 June 2024.
- Mr David Coyne was re-appointed as an Executive Director and Joint Company Secretary, effective 1 August 2024.
- Total cash and listed company investments at 30 June 2024 of $93.8 million.
Spartan Managing Director and CEO, Mr Simon Lawson, commented:
“It’s been another huge quarter for Spartan, with a new high-grade gold discovery at the Pepper Prospect, further outstanding intercepts from across our existing deposits – including our deepest project assay to date from Never Never, which graded almost eight grams per tonne more than 1km down-hole – and a landmark $80 million capital raising that will enable us to substantially ramp-up exploration and development activities.
“Our drilling throughout the Quarter has continued to reinforce our ability to deliver high-grade ounces in front of Dalgaranga’s existing infrastructure.
“The new Pepper discovery has provided plenty of excitement for our geology team, delivering a new zone of high-grade Never Never-style mineralisation in between the existing Never Never and Four Pillars deposits, with the discovery hole returning an intercept of 17.52m grading 15.86g/t gold, including 9.22m grading 27.89g/t.
“Since first announcing the discovery in mid-April, we have had a drill rig continuously turning at Pepper, with the Company on-track to deliver a maiden Mineral Resource Estimate for the deposit as part of our scheduled mid-year Resource update for Dalgaranga. This Resource update will also include inaugural estimates for the Four Pillars and West Winds deposits, as well as updates for both Never Never and Sly Fox.
“All of the drill results reported during the Quarter were returned from steeply-dipping deposits along a single, 800m-long stratigraphic horizon, with planning now complete for the development of an exploration drill drive to provide underground drill platforms to better target this zone. We expect to be in a position to commence construction of this drill drive during the September Quarter, positioning the Company for plenty of exciting drilling in the second half of the year.
“Development of this drill drive, as well as our ongoing exploration and development programs, will be underpinned by the highly successful $80 million capital raising completed during the Quarter. This raising was well supported both by institutional and retail investors and I would like to sincerely thank all shareholders who participated.”
Click here for the full ASX Release
This article includes content from Spartan 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.
SPR:AU
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Aurum hits 73.10 g/t gold at Boundiali BM tenement
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John Feneck: Key Gold, Silver Price Levels, 10+ Mining Stocks I'm Watching
John Feneck, portfolio manager and consultant at Feneck Consulting, shares his updated outlook for gold and silver prices, outlining key support and resistance levels.
He also discusses precious metals and critical minerals stocks that he's watching.
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.
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3h
Top 10 Biggest Gold Mines in Australia
Australia is currently tied with Russia for second place in global gold production.
With gold's price trading at historic highs, it's a good time for investors to find out more about gold mines in Australia.
Learning about Australia's biggest gold mines is a good place to start. Read on for a look at where gold is mined in Australia and how much gold is produced at the biggest Australian gold mines.
Where is gold mined in Australia?
One of the nation's more prolific gold-mining areas is Western Australia, which according to the Fraser Institute is one of the best mining jurisdictions in the world. Unsurprisingly, the area has attracted major miners like Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and BHP (ASX:BHP,NYSE:BHP,LSE:BLT).
In fact, gold was the second most valuable commodity in Western Australia in 2023 - 2024, only behind liquefied natural gas; gold sales came in a record AU$20 billion during that time.
Overall, according to statistical data provided by the government of Western Australia, the state alone produced 211.22 tonnes of gold in 2023/2024, compared to just 80.73 tonnes of gold produced in the rest of the country.
Within Western Australia, the Pilbara region has renewed interest and helped increase the country’s consistent gold output. Covering more than half a million square kilometres, the Pilbara area is one of the most resource-rich regions in the state. And while the Pilbara area is better known as an iron ore hotspot, it's currently in the midst of a small gold rush thanks to a major discovery in 2017 by Novo Resources (TSXV:NVO,OTCQX:NSRPF) and Artemis Resources (ASX:ARV,OTCQB:ARTTF).
Some geologists have compared the geology of the Pilbara Craton with South Africa’s Witwatersrand Basin, which is home to the Earth’s largest known gold reserves and is responsible for over 40 percent of worldwide gold production.
Both the Pilbara and Witwatersrand are similar in age and composition, sitting on top of the Archean granite-greenstone basement. The Pilbara area hosts numerous small mesothermal gold deposits containing conglomerate gold — mineralisation known to hold large, high-grade gold nuggets.
What are the biggest Australian gold mines?
Below is a tour of the 10 largest gold mines in Australia in terms of 2024 gold production, including information on their operations and 2025 guidance. Data is taken from company reports and MiningDataOnline.
1. Boddington
The Boddington open-pit gold and copper mine entered production in 2009 and is located 16 kilometres from Boddington, Western Australia. Once a three-way joint venture, Newmont (TSX:NGT,NYSE:NEM) became the sole owner of Boddington in 2009.
In calendar year 2024, Boddington produced 590,000 ounces of gold, down from 745,000 ounces produced in 2023, as the planned mine sequence means operations are currently focused on a section with lower gold grades. This will continue to impact output in 2025 as well, leading Newmont to set guidance at 560,000 ounces of gold for the year.
However, the company is working on laybacks in the North and South pits that should provide access to ore bodies with higher gold grades, which it says will help increase production once completed in 2026.
The mine produced 126,000 ounces of gold in the first three months of 2025.
2. Cadia Valley
Located in New South Wales, Cadia Valley is now owned and operated by Newmont following its acquisition of Newcrest Mining in November 2023.
Once the biggest gold mine in Australia, Cadia’s production numbers have been in decline in recent years, slipping from 843,000 ounces of gold in 2020 to 464,000 ounces in 2024. Output is expected to continue to decline in 2025, with Newmont setting guidance at 280,000 ounces.
The company is transitioning to operations in panel cave 2-3, from which peak production is expected from 2027 to 2032. It is also developing panel cave 1-2 with production planned to begin in 2027.
Cadia produced 103,000 ounces of gold in the first quarter of 2025.
3. KCGM
Northern Star Resources (ASX:NST,OTC Pink:NESRF) owns the Kalgoorlie Consolidated Gold Mines (KCGM) operations, home to the famous Super Pit, which is actually named the Fimiston open pit. KCGM also hosts the Fimiston and Mount Charlotte underground mines and the Fimiston and Gidji processing plants.
Northern Star became the sole owner of the KCGM operations in February 2021.
KCGM is located in the legendary Golden Mile, which was once reputed to be the richest square mile on Earth, and the operations sit on 13.27 million ounces of gold reserves. The operations reached the milestone of 50 million ounces of gold production in 2019.
In Northern Star's fiscal year 2023/2024, KCGM produced 449,032 ounces of gold. In mid-2023, Northern Star launched a AU$1.5 billion expansion project at KCGM's Fimiston processing plant that is expected to increase gold production to 900,000 ounces per year by 2029.
KGCM produced 117,703 ounces of gold during the first three months of 2025.
4. Tropicana
Located in Western Australia, the Tropicana gold mine is co-owned by AngloGold Ashanti (ASX:AGG,NYSE:AU) and Regis Resources (ASX:RRL,OTC Pink:RGRNF) through a 70/30 joint venture.
the mine spans 3,600 square kilometres and stretches over close to 160 kilometres in strike length along the Yilgarn Craton and Fraser Range mobile belt collision zone. The regional geology is dominated by granitoid rocks, making it a rare example of a large gold deposit within high-grade metamorphic rocks that have undergone widespread recrystallisation and melting.
In calendar 2024, Tropicana produced 426,000 ounces of gold, with AngloGold Ashanti’s 70 percent accounting for 313,000 ounces and the rest attributed to Regis.
As part of AngloGold Ashanti's commitment to lowering its carbon footprint, a 62 megawatt wind and solar facility is currently under construction at Tropicana. The project is expected to be completed during the first quarter of 2025 and will reduce greenhouse gas emissions at the site by an estimated 65,000 per year.
Tropicana produced 100,000 ounces of gold during the fourth quarter of 2024.
5. Tanami
Tanami has been fully owned and operated by Newmont since 2002 and is located in the Northern Territory's remote Tanami Desert. Both the mine and the plant are located on Aboriginal freehold land that is owned by the Warlpiri people and managed on their behalf by the Central Desert Aboriginal Lands Trust.
Tanami is a fly-in, fly-out operation in one of Australia’s most remote locations. The asset is 270 kilometres away from its closest neighbours, the remote Aboriginal community of Yuendumu.
In 2024, Tanami produced 408,000 ounces of gold, down from the 448,000 ounces the previous year.
Newmont announced the Tanami Expansion 2 project in October 2023, and expects commercial production to start in the second half of 2025. Once complete, it is expected to extend the mine's life beyond 2040 and increase its annual gold production by approximately 150,000 to 200,000 ounces for the initial five years.
Newmont has projected that 2025 will see a further decrease to 380,000 ounces due to lower grades. According to the company, 60 percent of that production is expected during the second half of the year as the mine expansion comes online.
Tanami produced 78,000 ounces of gold in the first three months of 2025.
6. Cowal
Owned by Evolution Mining, Cowal is the company's largest gold-producing asset. The mine is located near Bland Shire in New South Wales within the traditional lands of the Wiradjuri people.
In 2023, Evolution marked important milestones in the mine’s development with the ramp-up in production of its newly cutback Stage H portion of its open pit mine and the early completion of its underground mine.
The new underground portion of Cowal helped to deliver a record production in its fiscal year 2024 of 312,644 ounces of gold versus 276,314 ounces during its fiscal 2023.
Due to high gold prices and strong production numbers, the company reported that it has been able to repay capital costs for the acquisition and expansion at Cowal. In total, the mine generated AU$604.9 million in fiscal 2024 ended June 30, 2024.
Cowal produced 80,657 ounces of gold in the quarter ended March 31, 2025.
7. St. Ives
Owned and operated by Gold Fields (NYSE:GFI,JSE:GFI), St. Ives consists of multiple open-pit and underground mines near Kambalda in Western Australia.
In Gold Fields’ 2024 annual report, the company detailed that output from St. Ives came in at 331,200 ounces of gold during the calendar year, a slight decline from the 371,800 ounces achieved in 2023 due to lower grades.
In March 2024, Gold Fields announced the construction of a microgrid project at St. Ives that will add 42 megawatts (MW) of wind and 35 MW of solar, generating 73 percent of the operation’s electrical requirements. The company expects the microgrid to be operational toward the end of 2025. Overall, it is projected to reduce scope 1 and 2 emissions at the mine by 50 percent in 2030.
St. Ives produced 85,200 ounces of gold in Q1 2025, up 24 percent year over year.
8. Jundee
Jundee is located in the Northern Goldfields region of Western Australia and is owned by Northern Star, which purchased it from Newmont in 2014 for AU$82.5 million. The property is part of Northern Star's Yandall operations, and is well known due to the fact that it solely uses underground mining after transitioning from an open pit operation. Along with Cadia Valley, Jundee is one of the lowest-cost gold producers on this list.
The asset produced 280,963 ounces of gold in the company’s fiscal 2024 ended June 30 2024, lower than the 320,201 ounces produced the previous year. Production at Jundee was impacted by a fire in the processing plant in the June quarter that resulted in 10 days of unplanned downtime.
In June of 2023, Northern Star announced it would be integrating 24 MW of wind and 16.9 MW of solar into its existing gas power station network and would be supplementing the entire system with 12 MW of battery energy storage.
The windfarm was completed in 2025, and renewable generation is expected to account for 56 percent of the mine's power and contribute to a 36 percent reduction in Northern Star’s carbon footprint.
During the March quarter of 2025, Jundee produced 64,373 ounces of gold.
9. Duketon South
Owned by Regis Resources (ASX:RRL,OTC Pink:RGRNF), Duketon South is located in the North Eastern Goldfields of Western Australia. The operation is composed of the Garden Well and Rosemont operations, with both hosting open pit and underground mines.
The primary processing facility at Garden Well has a 5 million tonne per annum throughput rate with a two-stage crushing circuit, scrubber and ball mill, as well as a 7.5 million tonne per annum carbon-in-leach circuit, which also handles slurry from Rosemont.
In the company’s fiscal 2024 report, Regis Resources indicated production had decreased to 244,455 ounces of gold for the year ended June 30 from 252,672 ounces produced in 2023.
In May 2024, Regis announced it approved development for a new underground mining area at Garden Well and an extension to the Rosemont underground mine. Once these are complete, Regis is projecting annual production of 100,000 to 120,000 ounces of additional capacity by fiscal 2027.
During the quarter ending March 31, Duketon South produced 58,100 ounces of gold.
10. Fosterville
Fosterville, which is owned by Agnico Eagle Mines (TSX:AEM,NYSE:AEM), is a high-grade, low-cost underground gold mine located in the state of Victoria.
The mine has been operational since 1989, with a lifetime production of over 16 million ounces of gold. The asset produced 225,203 ounces of gold in calendar 2024, a decrease from the 278,000 ounces produced in 2023. Agnico Eagle attributes the decrease to lower grades as it processes the remaining areas of the Swan zone.
The company has forecast continued declines from Fosterville putting guidance at 140,000 to 160,000 ounces in 2025.
Fosterville produced 43,615 ounces of gold during the first quarter of 2025.
How to invest in Australian gold stocks?
Investing in Australian gold stocks is similar to stocks in other sectors. Gold companies issue shares on stock exchanges that are available for investors to trade. When you purchase shares of a gold stock, you are essentially purchasing a stake in the company.
Many gold companies in Australia are listed on the ASX, making them easily accessible to Australian investors. To invest in the companies that are listed on international exchanges, Australian investors will have to use a broker that has access to that market.
For North American investors looking to invest in Australian gold companies, some are dual-listed on Canadian and US stock exchanges as well, making them more accessible.
As for deciding which type of gold company to invest in, whether you choose to invest in gold-mining stocks or gold companies at the development or exploration stage should be based on your risk tolerance. In general, established companies that are producing metal are more stable and less risky than smaller companies that are still exploring for gold or building a mine.
Although no investing strategy is 100 percent foolproof, experts often recommend gold stocks as a way to hedge exposure to general stock market. That's because they tend to move in tandem with the price of gold.
For more ideas in how to invest in Australian gold stocks, check out our articles on the biggest ASX-listed gold stocks and the top-gaining ASX gold stocks year-to-date.
This is an updated version of an article first published by the Investing News Network in 2019.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Dean Belder, currently hold no direct investment interest in any company mentioned in this article.
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Gold Surge: Economic Uncertainty Fuels Next Wave of Exploration
Amid persistent economic volatility and geopolitical tensions, gold remains a reliable safe-haven investment. Analysts believe this strength isn't merely a short-term reaction, but rather a reflection of deeper structural factors that are reshaping the global economic landscape and driving a renaissance in gold exploration.
The precious metal's price has maintained remarkable resilience, reaching an all-time high of US$3,500 per ounce on April 22, 2025, spurred on by converging factors that have created an exceptionally favorable environment.
Central banks worldwide have emerged as significant buyers of the yellow metal, adding to their reserves at the fastest pace in decades. According to the World Gold Council, central banks’ annual net gold purchases reached 1,037 metric tons in 2023, just shy of 2022's record amount. Their buying reflects growing concerns about currency debasement and the search for assets that can maintain value during periods of economic stress.
Meanwhile, persistent inflation concerns, despite fluctuating interest rates, have kept investors vigilant about preserving wealth. Geopolitical tensions across multiple regions have further enhanced gold's appeal as a safe haven asset.
From ongoing conflicts in Eastern Europe to trade tensions between major economies, the global political landscape continues to generate uncertainty that drives capital toward precious metals.
Perhaps most telling has been the gradual shift in investor sentiment from high-growth tech stocks toward tangible assets and commodities. This rotation reflects a broader reassessment of risk in investment portfolios after years of market volatility.
Supply challenge: A crisis in plain sight
While demand dynamics have captured headlines, a less-discussed but equally important factor supporting gold's outlook is the emerging supply crunch. The gold-mining industry faces a silent crisis: declining discovery rates coupled with aging mines approaching the end of their productive lives.
Major gold producers are struggling to maintain their production levels as reserves deplete faster than they can be replaced. According to a report by McKinsey & Company, gold reserves have declined by approximately 25 percent since their peak in 2012, despite rising exploration budgets in recent years.
The challenge stems from the fundamental difficulty in finding new, economically viable gold deposits. The easy-to-find surface deposits have largely been discovered, forcing exploration to go deeper, into more remote regions and into jurisdictions that may carry higher operational risks.
This supply constraint isn't likely to resolve quickly. The timeline from initial discovery to production typically spans 10 to 15 years, meaning that today's exploration success won't translate into new supply until well into the next decade. This lag creates a structural support for gold prices that could persist regardless of short-term economic fluctuations.
Capital returns to exploration
Recognizing both the price strength and supply challenges, investors are once again directing capital toward gold exploration companies. After years of underinvestment following the previous gold bull market's end, financing for junior miners has seen a remarkable resurgence.
The financing revival has been accompanied by increased M&A activity as major producers look to secure future production pipelines by acquiring promising juniors.
This M&A trend provides an additional potential catalyst for investors in exploration companies, as successful discoveries can attract premium takeover offers from producers desperate to replenish their reserves.
This shifting paradigm is revitalizing exploration efforts across multiple regions. Canada's historic mining districts continue to attract attention, while West African nations like Burkina Faso, Mali and Côte d'Ivoire have emerged as exploration hotspots. Perhaps most interesting is the renewed focus on Colombia, a country with rich mineral potential that remains relatively underexplored due to its complex history.
Colombian opportunity: Quimbaya Gold's strategic position
One company positioned to benefit from these trends is Quimbaya Gold (CSE:QIM,OTCQB:QIMGF), a Canadian gold exploration company focused on unlocking high-grade gold opportunities in Colombia’s prolific Antioquia region, which produces over half of the country’s gold.
The company’s investment value proposition lies in its strategic landholdings totaling over 59,000 hectares across three highly prospective projects: Tahami, Berrio and Maitamac. These projects are located in well-established mining districts and positioned near major gold operations, offering both geological upside and infrastructure advantages.
The flagship Tahami project, covering 17,087 hectares, is particularly well positioned adjacent to Aris Mining's (TSX:ARIS,NYSEAMERICAN:ARMN) Segovia mine — one of the highest-grade gold mines globally, which produced 220,000 ounces in 2024. This proximity to a world-class operation enhances Tahami’s exploration potential, and Quimbaya is advancing the project through detailed mapping, LiDAR surveys, streaming, rock and soil samples and Mobile Metal Ion soil sampling to delineate drill targets.
Supporting its exploration efforts, Quimbaya has secured a five year drilling agreement with Independence Drilling, committing to 100,000 meters of drilling. The structure of the deal, with the drilling contractor accepting up to 100 percent payment in Quimbaya shares, is a vote of confidence in the company’s prospects and aligns both parties' interests.
Quimbaya has also established a 50/50 joint venture with Denarius Metals (OTCQX:DNRSF) for the Tahami project, which complements Quimbaya's ongoing exploration efforts. Both parties are focused on finalizing a definitive agreement as soon as possible.
In addition to Tahami, the Berrio project, spanning 8,746 hectares in the Low Magdalena region, benefits from a history of medium-scale gold mining over the past 50 years, indicating a strong geological foundation. Meanwhile, the 33,223 hectare Maitamac project, located 80 kilometers south of Medellín, is emerging as a potentially significant new gold metallogenic district, offering blue-sky exploration potential.
Recent capital raising activity, including a C$2.7 million private placement, has further strengthened Quimbaya’s financial position, allowing it to accelerate its exploration programs across all three properties.
With a strong portfolio, experienced technical partners, and a clear strategy targeting high-grade gold systems in a proven jurisdiction, Quimbaya presents a compelling opportunity for investors seeking exposure to early stage gold exploration with district-scale upside in Colombia.
Investor takeaway
As the gold market dynamics continue to evolve, one thing remains clear: exploration success is crucial to the industry's long-term sustainability. While production from existing mines can be optimized incrementally, only new discoveries can meaningfully address the looming supply shortfall.
For investors, this creates an opportunity to participate in the gold market beyond simply holding the physical metal or shares in established producers. Early stage exploration companies offer potential for outsized returns, albeit with corresponding risk levels. The most successful investors in this space typically build portfolios of exploration companies, recognizing that while some projects will inevitably disappoint, others may deliver returns that more than compensate for the failures.
The risk/reward equation in gold exploration has shifted favorably in recent years. With major producers trading at historically high multiples to their reserves and struggling to replace production organically, successful explorers can command premium valuations. Investors who can identify quality projects and management teams before major discoveries have the potential to achieve significant returns.
Companies like Quimbaya exemplify the opportunity at hand — targeting underexplored regions with substantial discovery potential at precisely the moment when new deposits are most needed and valued.
This INNspired article is sponsored by Quimbaya Gold (CSE:QIM,OTCQB:QIMGF,FWB:K05). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Quimbaya Goldin order to help investors learn more about the company. Quimbaya Gold is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Quimbaya Goldand seek advice from a qualified investment advisor.
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8h
Missouri Set to Recognize Gold and Silver as Legal Tender, Critics Raise Implementation Concerns
Missourians may soon be able to pay their taxes — and possibly their grocery bills — with gold and silver.
The Missouri General Assembly has passed a Republican-backed amendment to a wide-ranging finance bill that recognizes precious metals as legal tender. It would require state government entities to accept electronic forms of gold and silver — known as “electronic specie currency” — for public debts, including taxes.
The bill, now awaiting action by Republican Governor Mike Kehoe, has sparked both curiosity and concern. It stops short of mandating that private businesses accept physical or digital precious metals, but allows them to do so voluntarily.
“The goal is about restoring economic and political freedom back to everyday Missourians,” Representative Bill Hardwick, a Dixon Republican and a primary sponsor of the legislation, told the Kansas City Star. He has pushed versions of the so-called "Constitutional Money Act" for several years alongside members of the Missouri Freedom Caucus.
If signed into law, Missouri would become one of the few states to recognize gold and silver as legal tender — echoing a similar law passed by Utah in 2011 and proposals floated in other Republican-led states like Florida and Louisiana.
Supporters say the measure offers an alternative to the US dollar, which they argue is being devalued by inflation and poor federal monetary policy. However, the bill came as a surprise to some in the Capitol — it drew limited discussion on the House floor, and its full text was unavailable more than 24 hours after its passage, raising implementation questions.
State Representative Kemp Strickler, a Democrat from Lee’s Summit, expressed skepticism about the precious metals provision, though he ultimately voted “present” due to supporting other parts of the broader financial legislation.
“Not a fan of that part of it,” Strickler said. “Assuming it gets signed, we’re in the ‘how do we implement’ stage.”
He added that he expects most private businesses will likely decline to accept gold or silver as payment, given the complexities involved. “I would think this would be a huge challenge for private businesses,” he added.
Implementation may indeed be the most complicated part. The amendment calls on the Missouri Department of Revenue to develop rules and infrastructure for accepting electronic specie by August, when the bill would take effect.
Hardwick suggested that emerging payment technologies could facilitate transactions in gold or silver through digital and paper-based equivalents. But critics say the idea remains largely symbolic and potentially unworkable.
“So when I go to a gas station and buy a Coke, a 20 ounce Coke, and I’d say, you know, here’s my gold … Are they gonna give me back money in gold?” former Senate Minority Leader John Rizzo, a Democrat from Independence, said in 2023.
Business groups have been more measured in their responses.
The Missouri Chamber of Commerce and Industry opposed earlier versions of the bill that would have forced private businesses to accept gold and silver. But the final version was softened to remove that requirement.
The bill’s momentum comes amid a broader push by conservative lawmakers across the country to reassert state-level authority over monetary policy and hedge against federal economic policies they view as reckless.
Earlier this year, Utah legislators passed a bill to create a precious metals-backed electronic payment system, although Republican Governor Spencer Cox later vetoed it. In Florida, similar legislation has gained traction, with Governor Ron DeSantis voicing support. Louisiana lawmakers have also introduced, but not passed, related bills.
Whether the legislation becomes law now rests with Kehoe, who has not indicated how he will proceed. “The bill will receive a thorough review by Governor Kehoe and his team,” said spokesperson Gabby Picard in an email.
Though some proponents remain optimistic that alternative currency systems can gain traction, the real test will come in how — and whether — the state implements the law in a way that is practical and secure.
For now, gold and silver may be legal tender in theory; however, whether that translates into everyday transactions at gas stations, grocery stores or tax offices remains to be seen.
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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8h
Heaven’s Earthly Treasures: Behind the Metallurgy of the Papal Symbols
As white smoke billowed from the Sistine Chapel's chimney and the bells of St. Peter’s Basilica rang out, Robert Francis Prevost, now known as Pope Leo XIV, was casting history in gold.
The newly elected pontiff is not only the first American pope, but also the latest successor in a long line of men robed in ancient symbols and tradition — as well as precious metals.
The Vatican, for all its spiritual power and theological doctrine, is also quite literally a treasury.
From the moment a pope is elected, he is adorned with regalia that is steeped in centuries of meaning, and often crafted from some of the world’s most valuable resources.
This article explores the material makeup of the modern papacy — what it's made of, and what it means.
The Fisherman’s Ring
At the center of every pontificate is a single golden symbol: the Fisherman’s Ring.
A custom-made signet bearing the image of St. Peter fishing — a nod to the Pope’s spiritual ancestry — the aptly named Fisherman’s Ring is a badge of papal authority. Historically, it also functioned as a seal for papal documents, though its use for that purpose was discontinued in 1842.
Gold is the traditional material, but recent pontificates have brought slight variations. Pope Benedict XVI’s ring was solid gold; Pope Francis chose gold-plated silver — a subtle nod to austerity.
The composition of Pope Leo XIV’s ring has not yet been confirmed.
Whatever its exact alloy, the symbolism remains rich. The ring is destroyed upon a pope’s death or resignation — shattered with a ceremonial hammer to prevent forgery, a powerful image of the transience of power.
The tiara’s glittering past
While Pope Leo XIV, like his recent predecessors, is unlikely to don the papal tiara — a triple-crowned headpiece entrenched in medieval grandeur — it remains one of the most opulent artifacts in Vatican history.
Traditionally crafted from silver and often adorned with diamonds, emeralds, sapphires and rubies, the tiara’s structure symbolized the pope’s threefold authority: to teach, to govern and to sanctify.
One of the most extravagant examples belonged to Pope Paul II in the 1460s; he wore a tiara encrusted with gems worth over 200,000 florins — more than US$22 million in today’s dollars. Another tiara, worn by Pope Julius II in 1503, was valued at 200,000 ducats (each ducat containing 3.5 grams of pure gold). These tiaras, now museum pieces, remain potent reminders of the Church’s historical wealth and the metals that shaped its regalia.
The modern papacy, however, has moved away from such ostentation.
Pope Paul VI was the last to wear the tiara. In 1963, just months after his coronation, he donated his own gold- and jewel-encrusted tiara to benefit the poor — a decision echoed by his successors.
The pectoral cross
Another item of note in the papal wardrobe is the pectoral cross, typically suspended from a gold or silver cord and worn over the chest. This cross often contains a relic and represents the pope’s role as shepherd of the Catholic Church, as well as a constant reminder of his burden: to bear the sins of humanity as Christ did.
Recent popes have had pectoral crosses made of solid silver or gold, often customized with inscriptions or sacred imagery. Pope Francis, for example, wore a simple silver pectoral cross featuring the image of the Good Shepherd.
The gold-embroidered red stole
Worn across the shoulders, the papal stole is not metallic, but is trimmed with elaborate gold embroidery — often hand-stitched using fine gold thread, sometimes even containing 24 karat accents.
The red stole signifies the pope’s priestly consecration and his spiritual role as a “good shepherd,” bearing the yoke of Christ. The golden accents of the stole reflect centuries of textile and metalcraft traditions.
Keys to the kingdom
Perhaps the most iconic symbol of the papacy is the crossed keys — one gold, one silver — typically shown bound by a red cord. These appear on everything from the Vatican’s flag to the papal seal and the mosaics embedded in the marble floors of St. Peter’s Basilica. The gold key represents the spiritual authority of heaven; the silver key, the temporal authority of the church on Earth. The downward-facing grips symbolize that both are wielded by the pope himself.
The materials — silver and gold — aren’t incidental; they signal divine access and earthly power alike.
The miter
Though no longer crowned with tiaras or enthroned on palanquins, modern popes still wear the miter, a ceremonial headdress. Today’s miters are typically made of silk, but many are embroidered with gold or silver threads, and some include small gemstone inlays.
Each miter is a handcrafted object, often given as a gift by a nation, religious order or diocese.
A papacy of substance and symbols
As the chants of, "Viva il papa!" echo across St. Peter’s Square, and as Pope Leo XIV blesses the faithful, he does so not just with words — but with a legacy etched in precious metals.
In the end, it’s a reminder that even in matters of the soul, the Earth’s treasures still shine.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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