goldinvesting
Andy Schectman, president of Miles Franklin, shared his thoughts on de-dollarization, going into detail about Project mBridge, a cross-border payment system developed in part by the Bank of International Settlements. He explained that Project mBridge is not compatible with the US dollar and has no interaction with SWIFT, the main system used for international payments and transactions. Various Russian banks were banned from SWIFT after the country's invasion of Ukraine in 2022, prompting concerns about the weaponization of the US dollar. Schectman also spoke about how Project mBridge relates t...
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Following rumors of a potential joint bid, BHP (ASX:BHP,LSE:BHP,NYSE:BHP) and Lundin Mining (TSX:LUN,OTC Pink:LUNMF) have entered into an agreement to acquire Filo (TSX:FIL,OTCQX:FLMMF) for C$4.5 billion. The acquisition will see BHP and Lundin Mining form a 50/50 joint venture that will include the Filo del Sol project, owned by Filo, and Lundin Mining's Josemaria project. Both are located in Argentina near the Chilean border. “Our copper-gold-silver exploration success at Filo has been unmatched since spinning the Company out in 2016, and now is the right moment to hand the project off to it...
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Horizon Minerals (ASX:HRZ) announced it will proceed with the development of its Boorara gold project. In a press release on Monday (July 29), the company said its board has approved a final investment decision for the asset. According to Horizon, Boorara is fully permitted, with all statutory approvals in place. Located in Western Australia, Boorara is 10 kilometres east of the Super Pit gold mine, one of the country's largest open-pit gold mines. Boorara previously underwent a trial-mining period in 2016. According to Horizon, the property's independent ore reserve estimate stands at 1.24 mi...
Investing News Network
Speaking to the Investing News Network at the Rule Symposium, Jeff Clark, editor of Paydirt Prospector, shared his updated thoughts on the gold price and the junior mining sector. "I am bound and determined to make money in this environment," he said. "I've been through cycles before in this industry — I've lost money and I've made money, and this time around I'm going to maximize whatever I can do to make as much as I possibly can and participate in a wealth cycle, if you want to call it that." He believes that the release of major gold miners' second quarter results could bring generalist in...
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Integra Resources (TSXV:ITR,NYSEAMERICAN:ITRG) and Florida Canyon Gold (TSXV:FCGV,OTC Pink:FCGVF) announced plans to merge, saying they want to create a leading gold and silver producer in the US' Great Basin. The agreement involves Integra acquiring all of Florida Canyon's outstanding shares. In return, Florida Canyon shareholders will receive 0.467 of an Integra share for each Florida Canyon share held. According to the companies, this exchange ratio values Florida Canyon shares at C$0.69 each, totaling approximately C$95 million. The transaction was announced on Monday (July 29), and is exp...
Investing News Network
Gold and critical minerals exploration company Nova Minerals (ASX:NVA,NASDAQ:NVA,NASDAQ:NVAWW) announced the closing of its underwritten NASDAQ initial public offering (IPO) of 475,000 units on July 26. “A US listing has been our goal for a long time as the logical next step with our flagship Estelle Gold Project being a North American asset and an increasing US investor base,” Nova Minerals CEO Christopher Gerteisen said. “Now it’s a reality, and we believe this can be a catalyst to create further shareholder value through increased exposure and liquidity available in the US market.” Each uni...
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Data from the US Bureau of Economic Statistics shows that inflation continues to cool in the release of June’s personal consumption expenditures (PCE) price index on Friday (July 26). The report shows that the June PCE increased by 0.1 percent month-over-month over May, up slightly from May’s 0.0 growth. On an annualized basis the PCE increased 2.5 percent, down from the 2.6 percent year-over-year increase reported in May, both coming in line with expectations. When it comes to prices, the Bureau indicated a 0.2 percent decrease in goods compared to May, but this was offset by a 0.2 percent in...
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A recent report by the World Gold Council (WGC) noted that US gold bar and coin demand has been higher on average during Democratic presidencies. The data, which draws from the last 37 years, shows that monthly demand in the first year following a Democratic win averages 79,000 ounces of gold, while the average following a Republican win is 32,500 gold ounces. The WGC report suggests that retail investors' demand for gold bars and coins is partly driven by their perceptions of economic policies when a Democrat is in office. These views include the likelihood of administrations to implement pol...
Investing News Network
Quimbaya Gold (CSE:QIM,OTCQB:QIMGF)has begun exploration work and is now gearing up for a 3,000 meter drilling program at its newly acquired property in Segovia, Colombia, according to Alexandre Boivin, the company’s president and CEO. The 2,000 hectare mining property, prospective for gold and silver, is near Aris Mining’s (TSX:ARIS,NYSEAMERICAN:ARMN) Segovia operations in Antioquia, Colombia. The region is well known for its high-grade gold veins, making the acquisition highly significant for Quimbaya’s growth trajectory. “The goal in mining and exploration, like a company like Quimbaya, is ...
Investing News Network
Speaking to the Investing News Network, Kerry Stevenson, host of Making Money Matter, explained why she sold all but three stocks in her portfolio late last year, and what she's doing with her money now. "I actually cashed in the whole portfolio aside from one coal stock ... and two gold stocks," she said on the sidelines of the Rule Symposium. "I've been sitting in cash up until about two and a half weeks ago, when I've come back in with quite big licks on four stocks, and I've still got some cash where I'm looking at some of the small caps." One gold stock Stevenson is "very happy" with is S...
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