goldstocks
Speaking to the Investing News Network, Chris Ritchie, president of SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV), shared his thoughts on how inflation continues to impact gold and silver miners, and explained why his company has chosen to hold precious metals on its balance sheet in this environment. SilverCrest's Las Chispas operation in Mexico went into production about two years ago, and Ritchie said that after paying back all of its debt in seven months the company had to decide what to do with the cash it had coming in. "Some of the knee-jerk responses were, 'Let's go build a new mine.'...
Investing News Network
The gold price has reached historic highs in 2024, rising above US$2,400 per ounce. For Australian investors, the price of the yellow metal has surged above the AU$3,700 mark in just the past few months. These gains have come as investors anticipate interest rate cuts, and against a backdrop of continued geopolitical turmoil in Ukraine and the Middle East. Gold has also been buoyed by central bank and Chinese buying. For many investors, gold is a tool for diversification. The precious metal is known for its ability to act as a safe haven and hence operates as a protective option when building ...
Investing News Network
The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 7.22 points last week to close at 607.95. Statistics Canada released consumer price index (CPI) data this past Tuesday (May 21). In the report, the agency indicates that CPI rose 2.7 percent in April on a year-on-year basis, dropping from a 2.9 percent year-on-year uptick in March. Inflation has now declined for the fourth month in a row, improving odds for a June rate cut as CPI inches closer to the Bank of Canada’s 2 percent target. The Canadian dollar lost a quarter percent on the news to close the day at US$1.37. South of the border, t...
Investing News Network
Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network. He presented his expanded Lassonde Curve and discussed four gold stocks he believes have the potential to bring investors strong returns. Those are K92 Mining (TSX:KNT,OTCQX:KNTNF), Aris Mining (TSX:ARIS,NYSEAMERICAN:ARMN), Minera Alamos (TSXV:MAI,OTCQX:MAIFF) and Rio2 (TSXV:RIO,OTCQX:RIOFF). Hansen also explained why he thinks now is the right time to establish or build on precious metals positions. "What I'm...
Investing News Network
John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching. Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances. "We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more inter...
Investing News Network
Tavi Costa, partner and portfolio manager at Crescat Capital, shared his thoughts on gold's recent price activity, outlining why he thinks the yellow metal will lead other commodities higher. He told the Investing News Network that silver and copper are set to benefit from its rise. "To me gold is sort of the first thing to really move, and the first box to check in terms of a secular market. But where you're really going to likely get those big returns is going to be on things that tend to move with gold. And as we see gold move, usually you tend to see other metals really leading the way to ...
Investing News Network
Following the discovery of assay result inconsistencies at its Wawa gold project, Red Pine Exploration (TSXV:RPX,OTCQB:RDEXF) disclosed on May 10 that 532 out of approximately 98,000 assay results in its database appear to have been manipulated since it took ownership of the asset in 2014. An internal investigation has revealed that the assay result inconsistencies were caused by the actions of the company's former CEO, Quentin Yarie. The discrepancies were first reported by Red Pine on May 1. Yarie is alleged to have manipulated certain assay results received from Activation Laboratories, sub...
Investing News Network
Auric Mining (ASX:AWJ) has commenced Phase 2 of gold production at Jeffreys Find, with nearly 20,000 tonnes of ore delivered to the Coolgardie mill. The company’s managing director, Mark English, said the company is poised make a “substantial amount of money” in 2024 as it intends to double its production amid high gold prices. “We'll make sure to generate around $7 million worth of gross revenue out of this parcel. So throughout 2024, (with) 300,000 tonnes (of gold ore) going through that mill, we will certainly double our production on what we did compared to 2023 … This year, we'll do a min...
Investing News Network
David Erfle, editor and founder of Junior Miner Junky, shared his thoughts on gold, explaining what factors have pushed it to new levels, why it's now consolidating and how high it could go in 2024. In his view, the yellow metal started to break out for macroeconomic reasons, and picked up momentum when tensions in the Middle East heated up. With the situation now looking calmer, gold has pulled back. Erfle said gold could correct all the way back down to US$2,200, but emphasized that he remains bullish. "It could correct down to US$2,200 and still be in an uptrend," he explained. "Gold's got ...
Investing News Network
The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 4.85 points last week to close at 581.7. This past Tuesday (April 30) and Wednesday (May 1) brought the latest meeting of the US Federal Reserve’s Federal Open Market Committee (FOMC). With recent data suggesting inflation has stalled and demand in the labor market has outstripped supply, the FOMC held interest rates at 5.25 to 5.5 percent, a level established in July 2023. In a statement, Fed Chair Jerome Powell said that, while increases were unlikely, the central bank still needed greater confidence that inflation was sustainably on its...
Investing News Network
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