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GoviEx Uranium (TSXV:GXU,OTCQB:GVXXF) said on Thursday (July 4) that the Niger government has revoked its rights to the perimeter of the Madaouela mining permit, placing it in the public domain. Niger's political landscape has been unstable since a coup d’état last July. General Abdourahamane Tiani's military junta took control of the country at that time, ousting President Mohamed Bazoum. While GoviEx initially expressed optimism that it would be able to operate as normal at Madaouela, in April the government said it could lose its mining permit if it didn't commence mining operations by July...
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The gold price was on the move this week, approaching US$2,400 per ounce on Friday (July 5). The yellow metal was reacting to soft June US jobs numbers, which have boosted expectations that the US Federal Reserve may cut interest rates when it meets in September. Data shows that non-farm payrolls increased by 206,000 new jobs in June, slightly above than the 190,000 expected by economists polled by Reuters. The Department of Labor also made revisions to April and May jobs data — growth for April was revised down to 108,000 new jobs compared to 165,000 previously, while growth for May was broug...
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Amid the looming copper deficit, World Copper (TSXV:WCU) CEO Gordon Neal believes the market needs to look at more nimble operations, like the company’s Zonia copper oxide project in Arizona, US, for a less expensive and faster path to production. Neal first explained the problem with the large sulfide deposits major copper companies are developing. "The majors are spending billions of dollars to put these into production. The average is probably anywhere between $2 billion to $6 billion, some even $10 billion. And the timeline to get them into production is anywhere between eight to 12 years ...
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2024 has been a storybook year for gold. Gold prices saw significant gains through the first half of 2024 and set an all time high of US$2,450.05 on May 19. Prices were supported by strong central bank buying, particularly by China, Turkey and India, along with resilient retail purchases that came despite high prices. Further momentum was carried as sentiment for the precious metal helped stem outflows from western exchange-traded funds in March and April. Although gold experienced a slight pullback at the end of Q2, prices have remained elevated, continuing to trade above US$2,300 level. Desp...
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ESG-focused company CoTec Holdings (TSXV:CTH,OTCQB:CTHCF) has released a preliminary economic assessment( PEA) for its Lac Jeannine iron tailings project in Québec, Canada. “The PEA represents a first step in demonstrating CoTec’s strategy of recovering the great economic potential of large historical tailing sites with further potential enhancement of these projects through the deployment of CoTec technologies where applicable,” said CEO Julian Treger in the company's June 27 press release. "The Labrador Trough hosts some of the largest historical resources of high-purity iron globally, creat...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 0.89 points last week to close at 569.82. The US Bureau of Economic Analysis released its latest personal consumption expenditures (PCE) data this past Friday (June 28) in its Personal Income and Outlays report. The PCE minus food and energy is the favored index of the US Federal Reserve. The report stated that the PCE price index rose 2.6 percent year-over-year in May, and increased just 0.1 percent month-over-month compared to April. This year-over-year increase marks the lowest since March of 2021, the last time it was below the central...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost 3.38 points last week to close at 570.71. Statistics Canada released its mining statistics for 2022 this past Thursday (June 20). The data shows that metal ore mining brought in C$39.11 billion to the economy for the year, an increase of around C$636.8 million from 2021. Leading the way were the base metals copper, nickel, lead and zinc with C$13.2 billion in combined revenue; nickel-copper ore mining headlined the section with revenue of C$7.23 billion. Its own category, iron ore mining brought in C$10.65 billion in revenue, while revenue...
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Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF) announced on Monday (June 17) that it is expanding its exploration portfolio by acquiring two new projects that are prospective for uranium in Argentina's Neuquén Basin. The company's cornerstone asset is the Amarillo Grande project (AGP), where work continues to progress. “Within our flagship AGP we have the Ivana deposit moving into the pre-feasibility stage, and multiple established exploration targets that are ready for the next steps,” said CEO and President Nikolaos Cacos in a press release. “So it is time for us to look to expand our longer-term p...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 14.16 points last week to close at 574.09. Markets saw a significant recovery this past Wednesday (June 12) following the release of the latest US consumer price index (CPI) data and the US Federal Reserve’s interest rate policy decision. The May CPI figures show a 0 percent change month-on-month and a 3.3 percent increase on an annual basis. Those are declines from April’s 0.3 percent monthly increase and 3.4 percent year-on-year figure. The improved inflation data wasn’t enough to sway the Fed, and after wrapping up its meeting it said i...
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The gold price has pulled back from record-setting levels seen earlier in 2024, but remains historically high. Against that backdrop, explorers are working to bring past-producing assets back into production. Last week, Aguia Resources (ASX:AGR) announced plans to expedite the reopening of its recently acquired Santa Barbara gold mine in Colombia, while West Red Lake Gold Mines (TSXV:WRLG,OTCQB:WRLGF) provided an outline of the steps it is taking to restart its Madsen gold mine, which is located in Ontario, Canada. Here's a look at the work the companies are doing at their respective operation...
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