silverstocks
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
Metals Acquisition (MAC) (NYSE:MTAL,ASX:MAC) has signed a strategic investment deal with Polymetals Resources (ASX:POL), which is working to restart the Endeavor silver-zinc-lead mine and processing plant. The transaction will see MAC make an initial AU$2.5 million investment in Polymetals for a 4.31 percent interest in the company. An additional AU$2.5 million is on the table subject to several conditions outlined in a Monday (May 27) press release, including Polymetals securing enough funding to restart the mine and processing plant. The companies will also have to enter into a water offtake...
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
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
2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less volatility and remained rangebound for the first eight weeks. Silver dropped to US$22.08 per ounce on January 21, marking its quarterly low. Silver started seeing gains in March with the expectation that the US Federal Reserve was getting closer to lowering interest rates. Improving sentiment gave the precious metals markets momentum, causing silver to reach its quarterly high of US$25.62 on March 20, before continuing on to an 11 year high of US$...
Investing News Network
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