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Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the ‘Company’ or ‘Spearmint’) wishes to announce that it has acquired the ‘Sisson North Tungsten Project’ in New Brunswick directly bordering the Sisson Tungsten Mine. This new project consists of 2,582 contagious acres prospective for tungsten.

James Nelson, President of Spearmint stated, ‘We feel that with the tariff issues that are now very present, tungsten will be one of the most sought after domestically sourced strategic metals. Similar to our foray into antimony, management feels that the China stranglehold will create a demand for tungsten and antimony as the supply chain tightens. We feel that diversifying into these sectors gives our shareholders the best opportunity for success especially now that the junior markets have become very buoyant for tungsten as witnessed by the strong movement of companies such as American Tungsten Corp who’s shares have risen from $0.03 cents in October to a high of $2.37 yesterday showing the strong investor demand for tungsten related companies.’ Mr. Nelson went on to say, ‘In addition, we would like to remind the market of our lithium holdings in Clayton Valley, Nevada, which are prospective for both lithium clay & lithium brine, at a time when we feel domestically sourced lithium projects will garner significantly more market interest in 2025. Despite the negative sentiment around lithium and EV’s over the last two years, the recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening.’

As of February 2025, the United States under President Donald Trump has implemented significant tariffs on imports from China, including a 10% duty on nearly all Chinese goods, effective February 4, 2025. In response, China has enacted countermeasures, notably imposing export controls on critical minerals, including tungsten, which is essential for various industries such as aerospace, electronics, and defense.

Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength, and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics, lightbulb filaments, and in military and aerospace technologies. However, China’s actions regarding tungsten have made it even more valuable for several reasons:

  1. Supply Control: China is one of the world’s largest producers and exporters of tungsten, controlling a significant portion of global tungsten reserves. By tightening its production and export quotas, China reduces the global supply of tungsten. This limited supply increases the material’s value, as demand remains high but availability becomes constrained.
  2. Increased Demand: As industries evolve, the demand for tungsten in high-tech applications-such as electronics, energy production, and military hardware-has risen. The scarcity of tungsten, due to China’s restrictions, further drives up its market price as industries compete for access to this crucial resource.
  3. Strategic Resource: Tungsten is a critical material for many industries, particularly in defense and aerospace sectors. China’s control over the supply means it can influence the global market and, in some cases, potentially use tungsten as a strategic lever in geopolitical relations, adding to its perceived value.

In short, the combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.

Recently, China banned exports of critical minerals, including antimony, to the United States. As trade tensions escalate between the United States and China, this move clearly emphasizes the urgent need for Western nations to secure reliable long-term sources of these critical minerals, which are now at the forefront of the global supply chain crisis.

Qualified person for mining disclosure:

The technical contents of this release were reviewed and approved by Frank Bain, PGeo, a director of the company and qualified person as defined by National Instrument 43-101.

About Spearmint Resources Inc.

Spearmint’s projects include four projects in Clayton Valley, Nevada: the 1,136-acre McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent (LCE) for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Century Lithium Corp.; the 280-acre Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; the 124-acre Green Clay lithium project; and the 248-acre Clayton Ridge gold project, the 4,722-acre George Lake South Antimony Project in New Brunswick and the 2,582 acre Sisson North Tungsten Project.

This project was acquired via staking.

For a cautionary note and disclaimer on the crypto diversification, please refer to the news release dated November 12, 2024.

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

‘James Nelson’
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240730

News Provided by Newsfile via QuoteMedia

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Global central banks own about 17 percent of all the gold ever mined, with reserves topping 36,699 metric tons (MT) as of year-end 2023. They acquired the vast majority in the years after becoming net buyers of the metal in 2010.

Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. Increased concerns over another global financial crisis have as expected led central banks once again to build up their gold reserves.

In a mid-2024 survey, the World Gold Council (WGC) said that 81 percent of the central bankers it polled expect global gold reserves to increase over the next 12 months. The precious metal’s “long-term store of value” as a guiding factor in gold purchases was cited by 42 percent of respondents.

Central banks added 1,044.6 MT of gold to their vaults in 2024, the third year in a row that gold purchases in this segment surpassed the 1,000 MT mark. In the fourth quarter of 2024 alone, central banks picked up another record 332.9 MT of gold, reported the WGC.

Survey data showing responses on central bank gold purchases year by year since 2019.

Chart via the WGC.

Twenty-nine percent of the WGC’s survey respondents indicated plans to grow their gold reserves, up 5 percent from the previous year. Three percent reported their institution is planning to decrease its gold holdings, which was unchanged from the previous year.

The WGC believes that central bank gold purchases will continue to be a major driver of gold demand in 2025.

Which central banks hold the most gold?

Read on to find out the 10 top countries by central bank gold holdings, as per data from the WGC, including recent Q4 2024 and full-year 2024 reports.

1. United States

Gold reserves: 8,133.46 metric tons

When it comes to the largest gold depository in the world, the American central bank is number one with 8,133.46 metric tons.

A large percentage of US gold is held in “deep storage” in Denver, Fort Knox and West Point. As the US Treasury explains, deep storage is “that portion of the US Government-owned gold bullion reserve which the Mint secures in sealed vaults that are examined annually by the Treasury Department’s Office of the Inspector General and consists primarily of gold bars.”

The rest of US-owned reserves are held as working stock, which the country’s mint uses as raw material to mint congressionally authorized coins.

2. Germany

Gold Reserves: 3,351.53 metric tons

The Bundesbank, Germany’s central bank, currently owns 3,351.53 metric tons of gold. Like many of the central banks on this list, the German national bank stores over half of its stock in foreign locations in New York, London and France.

The Bundesbank’s foreign gold reserves came into question in 2012, when the German Federal Court of Auditors, the Bundesrechnungshof, was openly critical of the Bundesbank’s gold auditing.

In response, the German bank issued a public statement defending the security of foreign banks. Privately, the Bundesbank then began the arduous process of repatriating its gold stock back to German soil. By 2016, more than 583 MT of gold had been transferred back to Germany.

Nearly half of Germany’s gold holdings are stored in Frankfurt, while more than a third are in New York, an eighth of its holdings are in London, and a miniscule amount are held in in Paris.

3. Italy

Gold Reserves: 2,451.84 metric tons

Banca d’Italia, the national bank of Italy, began amassing its gold in 1893, when three separate financial institutions merged into one. From there, its 78 MT slowly grew into the 2,451.84 MT the country now owns.

Like Germany, Italy stores parts of its reserves offshore. In total, 141.2 MT are located in the UK, 149.3 are in Switzerland and 1,061 are kept in the US Federal Reserve. Italy houses 1,100 MT of gold domestically.

4. France

Gold Reserves: 2,437 metric tons

The Banque de France has 2,437 MT of gold reserves, all of which it keeps on hand. The precious metal is stored in the bank’s secure underground vault, dubbed La Souterraine, which is located 27 meters below street level.

La Souterraine’s gold vaults are one of the four designated gold depositories of the International Monetary Fund.

According to Investopedia, the collapse of the Bretton Woods gold standard system was in part due to former French President Charles de Gaulle, who “called the U.S. bluff and began actually trading dollars in for gold from the Fort Knox reserves.” At the time, US President Richard Nixon “was forced to take the U.S. off the gold standard, ending the dollar’s automatic convertibility into gold.”

5. Russia

Gold Reserves: 2,332.74 metric tons*

The Bank of Russia is the official central bank of the Russian Federation and owns 2,332.74 MT of gold. Like France, Russia’s central bank has opted to store all its physical gold domestically. The Bank of Russia stores two-thirds of its gold reserves in a bank building in Moscow, and the remaining one-third in Saint Petersburg.

The majority of the yellow metal is in the form of large, variable-weight standard gold bars weighing between 10 and 14 kilograms. There are also smaller bars on site weighing as much as 1 kilogram each.

Russia, which is the second largest gold producer by country, has been a steady purchaser of the precious metal since roughly 2007, with sales ramping up significantly between 2015 and 2020. However, Russia’s refineries were banned from selling gold bullion into the London market following the country’s invasion of Ukraine. Sanctions by the west also include a freeze on about half of Russia’s gold reserves.

In early 2022, Russia tied its currency, the ruble, to the yellow metal. ‘The plan was to shift the currency away from a pegged value and into the gold standard itself so the ruble would become a credible gold substitute at a fixed rate,’ according to Robert Huish, an Associate Professor in International Development Studies at Dalhousie University.

*This figure does not reflect year-end 2024, including the at least 3.1 MT purchased in 2024, per the WGC, which is awaiting further data to update the 2024 total.

6. China

Gold Reserves: 2,279.56 metric tons

The central bank for Mainland China is the People’s Bank of China (PBoC), located in Beijing. According to the WGC, the national financial institute stores 2,279.56 MT of gold, most which has been purchased since 2000. In 2001, the PBoC had 400 MT of gold in reserve, but in just a little more than two decades that total has climbed by 459 percent.

The PBoC issues the Panda gold coin, which was first created in 1982. The Panda coin is now one of the top five bullion coins issued by a central bank. It is among the ranks of the American Eagle, Canadian Maple Leaf, South African Krugerrand and Australian Gold Nugget.

The PBoC was one of the top gold buyers out the world’s central banks for 2024, purchasing another 44 MT of gold during the year. April 2024 marked the 18th consecutive month of gold buying for China’s central bank, which paused its purchases afterward until picking them up again in November.

7. Switzerland

Gold Reserves: 1,039.94 metric tons

Holding the seventh largest central bank gold reserves is the Swiss National Bank. Its 1,039.94 MT of gold are owned by the state of Switzerland, but the central bank manages and maintains the reserve.

After years of opaqueness regarding the country’s golden treasure trove, the Swiss Gold Initiative, or Save our Swiss Gold campaign, was launched in 2011.

The publicity culminated in a national referendum in 2014, asking citizens to vote on three proposals. The first was a mandate for all reserve gold to be held physically in Switzerland. The other two dealt with the central bank’s ability to sell its gold reserves, along with a decree that 20 percent of the Swiss bank’s assets be held in gold.

The referendum was unsuccessful, but did prompt the bank to be more transparent. In a 2013 release, the central bank reported that 70 percent of its gold reserve was held domestically, 20 percent was located at the Bank of England and 10 percent was stored with the Bank of Canada.

8. India

Gold Reserves: 876.18 metric tons

The Reserve Bank of India is another central bank that has fervently acted to increase its holdings in recent years. It began adding to its gold assets in 2017; however, the majority of its purchases have taken place in the past four years.

Strikingly, after India’s central bank purchased 16 MT of gold in 2023, the institution scooped up another 72 MT of the precious metal in 2024.

While more than half of its gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements, about a third of its gold is held domestically. In June 2024, India repatriated 100 MT of gold from the United Kingdom. This was the first time since 1991 that the Reserve Bank of India moved its overseas gold holdings back home.

9. Japan

Gold Reserves: 845.97 metric tons

Public information about the Bank of Japan’s gold reserves is hard to come by. In 2000, the island nation was holding approximately 753 MT of the yellow metal. By 2004, the Bank of Japan’s gold store had grown to 765.2 MT, and remained at that level until March 2021, when the country purchased 80.76 MT of gold.

10. Netherlands

Gold Reserves: 612.45 metric tons

Rounding out this list of the top central bank gold reserves is the Dutch National Bank (DNB), the central bank of the Netherlands. Like Switzerland, the Dutch central bank stores as much as 38 percent of its gold in Canada’s national reserve. Another 31 percent, in the form of 15,000 gold bars, is held in a domestic vault, while the remaining 31 percent is located in New York’s Federal Reserve bank.

In a report, the DNB describes gold as the supreme safe-haven asset. “Central banks such as DNB have therefore traditionally had a lot of gold in stock. After all, gold is the ultimate nest egg: the trust anchor for the financial system,” it reads. “If the entire system collapses, the gold supply provides collateral to start over. Gold gives confidence in the strength of the central bank’s balance sheet. That gives a safe feeling.”

*11. International Monetary Fund

Gold Reserves: 2,814.1 metric tons

The gold reserve held by the International Monetary Fund is the third largest in terms of size. The large gold reserve was amassed primarily during the founding of the international organization in 1944.

In that inaugural year, it was decided that “25 percent of initial quota subscriptions and subsequent quota increases were to be paid in gold.”

Since 1944, the International Monetary Fund has added gold through the repayment of debts owed by member countries. Nations can also exchange gold for another member country’s currency.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

With gold prices surging to new all-time highs at the start of 2025, the top gold-producing countries are set to benefit significantly from a runaway bull market.

After gaining 30 percent in 2024, the market’s momentum continued in 2025. On January 31, it broke through the US$2,800 mark, and less than two weeks later on February 11, it broke above US$2,900.

The underlying conditions present in 2024 remain, including significant interest from central banks, falling interest rates and Russia’s ongoing invasion of Ukraine.

New events are adding more fuel to gold’s fire in 2025, most significantly Donald Trump’s return as president of the US. Since he took office, his aggressive trade tactics have sent ripples through the global economy and pushed investors to gold as they seek safe-haven assets.

As uncertainty grips the markets, rising gold prices will benefit gold producers and the countries they operate in. So, which countries produce the most gold?

1. China

Gold production: 380 metric tons

China was the world’s top gold mining country in 2024 with output of 380 metric tons. While China’s gold output peaked at 455 MT in 2016, it hasn’t dipped below 300 MT in more than a decade. This consistent production continues to ensure China’s status as the world’s top gold producer.

China’s gold mining industry is dominated by state-owned operators. Some of the largest companies include Zijin Mining Group (HKEX:2899), which owns the Shanxi mine, the largest gold mine in the Shanxi province. According to the most recent data from MDO, in 2023 the mine produced 125,000 ounces of gold.

Another of China’s largest companies is China Gold International Resources (TSX:CGG,HKEX:2099), which owns a 96.5 percent stake in the Chang Shan Hao gold mine located in Inner Mongolia. One of China’s largest gold mines, it’s estimated that production in 2024 was between 106,097 and 112,528 ounces.

China also hosts major gold-smelting operations. Its Belt and Road Initiative has resulted in Chinese companies exploring and developing sites elsewhere in Asia and Africa, subsequently sending raw resources back to China for refinement.

In addition to being the top producer of gold in 2024, China was one of the largest consumers of gold. According to data from the World Gold Council, consumers purchased 857.1 metric tons throughout the year. Meanwhile, China’s central bank was among the largest buyers of precious metal in 2024, adding 44 metric tons of gold to its coffers during the year to bring its official gold holdings to 2,280 metric tons.

2. Russia

Gold production: 310 metric tons

Gold production from Russia came in at 310 metric tons in 2024, the same as the prior year. The country’s output has risen fairly significantly since 2017, when it produced only 255 MT of gold.

The US Geological Survey states that Russian gold reserves stand at 12,000 MT, making it the second-largest country for reserves after Australia. However, despite high production and reserves, Russian gold has had problems reaching world markets since the country invaded Ukraine in February 2022. In response, Russian operators have sought out alternative markets, particularly the BRICS nations and other Asian countries like Kazakhstan.

Russia has several large gold mines, but none are more prolific than Polyus’ (MCX:PLZL) Olimpiada mine in the Ksasnoyarsk Krai region of Siberia. According to the company’s most recent data, the mine produced 1.5 million ounces in 2023.

3. Australia

Gold production: 290 metric tons

Australian gold production slightly decreased in 2024 to 290 metric tons, down from 296 metric tons the previous year.

Australia is home to several large gold mines, including Newmont’s (TSX:NGT,NYSE:NEM) Boddington and Cadia Valley, which produced 745,000 ounces and 597,000 respectively in 2023. It also hosts the Tropicana mine, a joint venture between AngloGold Ashanti (NYSE:AU) and Regis Resources (ASX:RRL,OTC Pink:RGRNF) that produced 437,000 ounces of gold.

Australia is one of the top gold producers and has one of the largest reserves, with an estimated 12,000 metric tons. These reserves, along with several other top producers, will ensure the country remains in the top 10 for years to come.

4. Canada

Gold production: 200 metric tons

In 2024, gold production in Canada totaled 200 metric tons, marking a slight uptick from the 198 metric tons recorded in 2023.

Ontario and Québec are the largest gold-producing provinces in the country; together, they represent more than 70 percent of Canada’s gold output. The Canadian government states that gold is the nation’s most valuable mined commodity, with domestic exports surging 35 percent in 2023 to reach a total of C$34.1 billion.

Canada has a number of very large gold mines, the largest of which is Agnico Eagle’s (TSX:AEM,NYSE:AEM) Canadian Malartic Complex in Québec. The mine produced 689,000 ounces of gold in 2023 and hosts proven and probable reserves of 7.92 million ounces.

Other notable gold mines in Canada include Agnico Eagle’s Detour Lake in Ontario, which produced 677,000 ounces in 2023, and its Meadowbank Complex in Nunavut, which produced 432,000 ounces.

5. United States

Gold production: 160 metric tons

The US produced 160 metric tons of gold in 2024, a drop from 170 metric tons produced in 2023. This continues a trend of production declines that started in 2017, when the US produced 237 MT of gold.

According to the US Geological Survey, the top state for production of the yellow metal was Nevada, which accounted for 70 percent of total domestic production, followed by Alaska with 16 percent. The top 26 operations in the country were responsible for 97 percent of American gold output in 2024.

An assessment of US gold resources shows that the country has approximately 33,000 MT of gold in identified and undiscovered resources. The US Geological Survey notes that close to a quarter of the gold in undiscovered resources can be found in copper porphyry deposits. Gold reserves in the US are estimated at 3,000 MT.

The largest gold mining assets in the United States are all owned by Nevada Gold Mines, a joint venture between Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont, and consist of Turquoise Ridge, the Cortez Complex and the Carlin Complex. Between them, the mines produced 2.82 million ounces of gold in 2023.

6. Kazakhstan

Gold production: 130 metric tons

Kazakhstan’s 2024 gold output of 130 metric tons represents continued growth in the country’s production of the yellow metal, up from just 69 MT produced in 2016. Kazakhstan’s largest gold-mining operation is the Altyntau Kokshetau mine, which is owned by mining giant Glencore (LSE:GLEN,OTC Pink:GLCNF).

In its 2024 production report, Glencore stated that it produced 603,000 ounces of gold across all its Kazakhstan assets, the majority of which came from the Altyntau Kokshetau mine.

In August 2023, Anglo-Russian company SolidCore Resources, formerly Polymetal International, one of Kazakhstan’s largest producers, delisted from the London Stock Exchange in a move geared at severing the link between its Kazakhstani and Russian subsidiaries; it did so in response to tensions resulting from Russia’s invasion of Ukraine. It remains listed on the Astana International Exchange in Kazakhstan.

In its FY2024 financial results, released on January 29, the company reported it produced 320,000 ounces of gold, a 1 percent increase over 2023. Its largest asset in the country is the Kyzyl mine, which hosts 2.2 million ounces of gold.

6. Mexico

Gold Production: 130 metric tons

Mexico’s gold production in 2024 came in at 130 metric tons, a marginal increase from 127 metric tons the previous year.

Mexico has a long history of gold mining; in fact, the Spanish colonization of Central America in the early and mid-1500s was largely targeting gold and silver. Today, Mexico is among the global leaders in gold production. Precious metals account for 50 percent of the country’s total metal output.

While much of Mexico’s gold mining is controlled by foreign entities, one of the largest operations, the Herradura mine, is owned by Mexico City-based Fresnillo (LSE:FRES,OTC Pink:FNLPF). Herradura produced 360,598 ounces of gold, or about 10.08 MT, in the company’s 2024 fiscal year. The mine represents more than half of Fresnillo’s gold production and generates about a quarter of the company’s total adjusted revenue.

6. Ghana

Gold production: 130 metric tons

West Africa has a rich history of gold production dating back hundreds of years. Ghana has been taking advantage of its resources and has seen steady production increases over the years going from 88 metric tons in 2015 to 130 metric tons in 2024.

Gold has become an important economic driver for the country. In 2023, gold exports accounted for 62.1 percent of Ghana’s total exports, adding US$580 million to the nation’s gross domestic product.

The country is home to several highly productive gold mines, including Newmont’s Ahafo South mine, which produced 581,000 ounces of gold in 2023, and Gold Fields (NYSE:GFI) Tarkwa mine with 551,000 ounces.

9. Uzbekistan

Gold Production: 120 metric tons

Uzbekistan produced 120 metric tons of gold in 2024, up from the 100 metric tons produced in 2023.

Operated by Navoi Mining and Metallurgical Company, Uzbekistan’s Muruntau gold mine is one of the largest gold operations in the world. Massive deposits of gold were first discovered at the site in the 1950s, and it still holds some of the largest reserves in the world at 4,500 MT. The discovery marked the beginning of gold mining in Uzbekistan. The mine produces more than 2.5 million ounces of gold per year and is expected to continue operating into the 2030s.

Following the fall of the Soviet Union in 1991, mining for the yellow metal fell to its all-time lows in the mid-1990s. In 2019, the country’s government announced renewed investment into development and exploration. While that hasn’t yet been reflected in its annual production, upgrades at Muruntau scheduled to be completed in 2026 are expected to increase its output from 38.5 million to 50 million metric tons of ore per year.

10. Indonesia

Gold Production: 100 metric tons

The mining industry is one of Indonesia’s most important sectors, and the country is among the world’s top producers of nickel, copper and gold. In 2024, Indonesia produced an estimated 100 metric tons of gold, on par with its 2023 production totals.

Indonesia is home to several significant gold operations. The largest of these is the Grasberg Mining District, a joint venture between Freeport-McMoRan (NYSE:FCX) and Indonesia’s state-owned Indonesia Asahan Aluminium. In 2024, the area produced 1.86 million ounces of gold, a decrease from the 1.98 million ounces produced in 2023, and it is estimated to have 23.9 million ounces in mineral reserves.

10. South Africa

Gold Production: 100 metric tons

In 2024, South African gold production came in at 100 metric tons, a small decline from 2023’s 104 metric tons. An estimated one-tenth of global gold reserves are located in the country, and its Witwatersrand Basin is one of the largest gold resources in the world.

Among the largest mining assets in the country are Gold Fields’ South Deep mine, which produced 322,000 ounces in 2023, and Sibanye-Stillwater’s (NYSE:SBSW,JSE:SSW) Driefontein mine, which produced 233,000 ounces.

South Africa has been a top gold producer for decades, but between 1980 and 2018 the nation’s gold output fell by 85 percent. In recent years, South Africa has been the site of conflicts between the Association of Mineworkers and Construction Union (AMCU) and gold producers in the area. The AMCU has held many protests and strikes at several gold and platinum mines in the hopes of garnering more wages and stopping any mergers that could cause job losses.

Additionally, in 2024 South Africa blockaded access to the Buffelsfontein gold mine west of Johannesburg, cutting off food and water in an attempt to force hundreds of miners to the surface.

Illegal mining accounts for 10 percent of South Africa’s total gold output. More than 30,000 illegal miners operate out of 6,000 abandoned mine shafts in the country.

10. Peru

Gold production: 100 metric tons

Peru is a mineral-rich country, known for deposits of copper, silver and gold. In 2024, Peru’s gold production was flat with the prior year’s, with 100 metric tons being extracted.

While Peru’s gold mines may not produce as much gold as some others on this list, some are still significant producers, including Newmont’s Yanacocha mine, which produced 276,000 ounces in 2023, and Pan American Silver’s (TSX:PAAS,NYSE:PAAS) Shahuindo mine, which produced 140,000 ounces.

Like South Africa, Peru has spent years working to crack down on illegal mining. While it has had some success, illegal gold operations account for roughly half of all gold produced in Peru. These operations have also wreaked havoc on vast swaths of the Amazon, as mercury used in the production of gold leaches into groundwater and soil.

There are also legal artisanal miners who oppose recent government action to regulate illegal operations. This culminated in a protest by thousands of miners who blockaded the center of Lima in November. Opponents of the new registry say it allows illegal miners to operate with impunity and exempts them from criminal liability.

FAQs for gold investing

How is gold mined?

Gold is mined by several different methods, including: placer mining, hard-rock mining, by-product mining and by processing gold ore. The method a gold-mining company chooses depends upon the size, location, geological model and metallurgy of the deposit in question.

What is the production cost of gold?

The cost of producing gold varies from one miner to the next, and is reported as the all-in sustaining cost (AISC). AISC was first introduced in 2013 by the World Gold Council. Deposit type, energy costs and inflation are the factors that have the largest impact on AISC. The average AISC for the entire gold industry is calculated by averaging the production costs of the largest gold producers. The average AISC fluctuates with changes in energy costs and inflation.

Which nation is the largest owner of gold?

The country with the largest central bank gold reserves is the US, which had 8,133.5 metric tons as of May 2024. Most US central bank gold is held in deep storage in Denver, Fort Knox and West Point.

Securities Disclosure: I, Dean Belder, currently hold no direct investment interest in any company mentioned in this article.

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At any given time, hundreds of companies in the resource sector are working to develop thousands of projects.

While most experts in the sector view people as the number one element that determines a company’s success, capital is key. It’s also often overlooked despite the fact that nothing can happen without it.

At this year’s Vancouver Resource Investment Conference (VRIC), CEO Jay Martin sat down with industry experts Rick Rule, Maria Smirnova, Natascha Kiernan and Alexandra Woodyer Sherron to get their thoughts on raising capital in the sector and to answer the question of whether cash is the most valuable resource in the mining industry.

Is cash the mining industry’s most important resource?

The old adage that cash is king is perhaps most true in the resource sector, especially among early stage exploration and development companies. Far from being able to rely on earnings from production, these firms need to raise capital to do more than keep the lights on. Funding is needed for the core elements of the business: geology, discovery, analysis and building. Without adequate funding, a company’s progress can be halted, sometimes for months or years.

Smirnova, who is senior portfolio manager and chief investment officer at Sprott Asset Management, identified three key elements she evaluates when examining companies in the resource sector.

“The first is the people. What’s the team? Have they done this before? What is the knowledge they have? Number two is the asset — the geology and location — and number three is the financial situation of the company,” she said.

Smirnova emphasized that while a company’s personnel and financial position can be altered, geology remains unchangeable. This has prompted her to adopt a more holistic approach when analyzing opportunities in the mining sector. She wants to see key elements utilized efficiently, including the strategic management of cashflow.

“Cash is important because you have to do things as a company. You want to discover the resource, and you want to move it towards production, but people definitely optimize that process,” Smirnova said.

Woodyer Sherron, who is president and CEO of Empress Royalty (TSXV:EMPR,OTCQX:EMPYF), echoed this point.

“You need cash. Without cash, a company is constrained. It’s difficult to move forward, so absolutely I think cash is the most important resource,” she told the audience at VRIC.

When asked if there is a minimum level of capital that would define a productive raise versus a non-productive raise, Woodyer Sherron suggested this is dependent on the stage of the company.

“There are so many different aspects to money, whether it’s exploration, development, production,’ she said.

‘From Empress’ point of view, we invest $5 million to $10 million into companies, but we focus on ones that are producing. They’re going to bring immediate cash,’ added Woodyer Sherron.

Kiernan, who is founder and principal at Bellevue Strategic Advisory, and Rule, the proprietor of Rule Investment Media, said money is important for mining companies, but not as important as leadership.

Rule has frequently said that people are the most important part of a company, but has also acknowledged that cash may be the most underrated asset. Drawing from his extensive experience in the resource sector, he noted that retail investors get excited about stories, not cash, and companies worry about the cost of capital inside the industry.

“They say the cost of capital is extraordinary. Have you ever considered the cost of not having capital? This is a capital-intensive business. If you don’t have capital, you have no business. So I think cash, it’s not exciting, but if you don’t have cash, you eliminate your ability to cause things to occur,” he said.

4 ways mining companies raise money

Mining companies raise capital through four primary methods, each with its own advantages and challenges.

Equity raises are a common approach in the industry, especially among early stage exploration and development companies. These agreements involve companies raising capital through the selling of shares.

This approach can be easy for those with compelling projects, good locations or favorable early exploration results. However, it can also dilute overall value for existing shareholders.

Equity raises can also be sensitive to overall market conditions. With that in mind, Smirnova spoke to the benefits of “raising when the ducks are quacking’ — in other words, raising cash when conditions are favorable. This approach can ensure that funds are available when needed, even if the market enters into a downturn.

Debt financing is a less common fundraising method in mining. Rule has extensive experience in this area.

He told the VRIC audience that during his time in the industry he’s overseen many deals. He explained that debt structures have their uses, but aren’t widely used due to their capital-intensive nature.

Debt structures often involve secured loans that are leveraged against company assets. They can be attractive because companies can raise capital rapidly, but they risk becoming overextended and losing valuable assets.

For Rule, debt financing is always a win for the issuer, but not always for the company.

“I can take a lower internal rate of return than I would ask for as an equity holder, because, by the nature of the transaction, it’s a secured loan. At the end of the exercise, whether I want it or not, the assets are mine, not theirs, and my coupon, assuming that I get paid, reduces my risk and allows me to recycle the cash,” he said.

Royalty and streaming agreements, like those offered by Woodyer Sherron’s company Empress Royalty, are an alternative to traditional equity and debt. In these types of agreements, companies receive upfront cash in exchange for a percentage of future revenue or production, often at a discount.

“We’re not buying third-party existing units, and we’re able to provide directly to them the financing they need … it’s less diluted than equity, it’s less restrictive than debt,” Woodyer Sherron said.

“We really want that revenue to come in so that we can reinvest it,” she added, emphasizing that Empress is interested in later-stage assets that are producing cash or close to doing so in order to ensure a steady revenue stream.

One final method of funding projects in the mining industry is joint ventures.

Similar to a merger, a joint venture involves two or more companies coming together. The advantage is that larger companies can provide reliable financing and expertise to move a project forward. However, joint ventures can also be highly complex, with differing views on ownership stakes and responsibilities.

“They’re very expensive and complex to negotiate, and they’re very expensive and complex to administer; if a joint venture goes bad, you’re in a problem where you have to unwind. You’ve got all kinds of conflicts, maybe with a much larger counterparty,” said Kiernan, who is an independent director for various mining companies, including Empress.

She also indicated that there are several reasons for joint ventures. Smaller companies get more experienced partners, while larger companies use them to gain access to jurisdictions by partnering with locals.

“There are going to be very big wins when they’re done for the right reasons and the proper diligence,” Kiernan added.

What should investors look for when it comes to cash?

In closing, the panelists offered final advice on evaluating companies based on their cash handling.

“Look at the ownership that the management team has in their own stock,” Smirnova advised.

“That will help you assess whether they’re in it just for a paycheck or for long-term value … that’s something we look for more and more. Question management teams to make sure that they actually have skin in the game.’

Rule offered advice that went beyond how companies use cash, suggesting that investors put their cash to work. He noted that with positive interest rates and deteriorating purchasing power, “cash is costing you money.”

‘Cash gives you the ability to take advantage of the illiquidity of others rather than being taken advantage of yourself,’ he said. Rule also noted that investors should get to know companies before they part with cash.

“I believe that 85 percent of the juniors that are listed on a global basis are valueless. I believe they’re worth nothing, and so I believe the junior sector is perpetually overvalued … if you learn to separate the 10 percent from the 90 percent, this is actually a hell of a sector. If you don’t, good luck to you,” Rule said.

Stay tuned for more event coverage, including video interviews with many of the experts who attended.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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Perth, Australia (ABN Newswire) – BPH Energy Limited (ASX:BPH) advises that investee Advent Energy Limited’s (BPH 36.1% direct interest) 100% subsidiary Asset Energy Pty Ltd has applied to the Federal Court for an Originating Application for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review a Decision of the Commonwealth-New South Wales Offshore Petroleum Joint Authority, constituted under section 56 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth). By the Decision, the Joint Authority refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 to vary and suspend the conditions of the PEP-11 Permit, pursuant to section 264(2) of the Act, and to extend the term of the PEP 11 Permit, pursuant to section 265 of the Act.

The Originating Application seeks:

1. An order quashing or setting aside the Decision;

2. A declaration that the Decision is void and of no effect; and

3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.

Asset Energy Pty Ltd is a 100 % owned subsidiary of Advent Energy Ltd and has lodged the appeal as Operator for and on behalf of the PEP11 Joint Venture Partners, Bounty Oil and Gas NL (ASX:BUY) and Asset Energy Pty Ltd.

About BPH Energy Limited:  

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).

Source:
BPH Energy Limited

Contact:
David Breeze
admin@bphenergy.com.au
www.bphenergy.com.au
T: +61 8 9328 8366

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/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) (‘ Rua Gold ‘ or the ‘ Company ‘) is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as sole agent (the ‘ Agent ‘), pursuant to which the Agent has agreed to act as agent on a ‘best efforts’ basis, in connection with the public offering of 8,333,400 common shares in the capital of the Company (each, a ‘ Common Share ‘) at a price of C$0.60 per Common Share (the ‘ Offering Price ‘) for aggregate gross proceeds of C$5,000,040 (the ‘ Offering ‘). The Offering is expected to close on or about February 20, 2025 (the ‘ Closing Date ‘), or such other date as agreed upon between the Company and the Agent, and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.

The Company has granted to the Agent an option (the ‘ Over-Allotment Option ‘) exercisable, in whole or in part, within 30 days after the Closing Date to sell, at the Offering Price, up to 1,250,010 additional Common Shares (being that number of additional Common Shares equal to 15% of the number of Common Shares issuable pursuant to the Offering) for market stabilization purposes and to cover over-allotments, if any.

The Company intends to use the net proceeds from the Offering for continuing the exploration program on its Reefton Project, and for general working capital and general corporate purposes.

The Common Shares will be issued pursuant to a prospectus supplement (the ‘ Supplement ‘) to the Company’s base shelf prospectus dated July 11, 2024 (the ‘ Shelf Prospectus ‘) that will be filed in each of the provinces and territories of Canada , except Quebec . The Common Shares may also be sold in the United States on a private placement basis pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘) and applicable U.S. state securities laws, and other jurisdictions outside of Canada and the United States pursuant to available prospectus or registration exemptions in accordance with applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

Copies of the Supplement, following filing thereof, and the Shelf Prospectus may be obtained on SEDAR+ at www.sedarplus.ca . The Shelf Prospectus contains, and the Supplement will contain, important detailed information about the Company and the proposed Offering including the proposed use of proceeds therefrom. Prospective investors should read the Supplement, accompanying Shelf Prospectus and the documents incorporated by reference therein before making an investment decision.

The securities referred to in this news release have not been, nor will they be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States , nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S. Securities Act.

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand . With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold’s two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company’s Glamorgan Project solidifies Rua Gold’s position as a leading high-grade gold explorer on New Zealand’s North Island. This highly prospective project is located within the North Islands’ Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining project, Wharekirauponga.

For further information, please refer to the Company’s disclosure record on SEDAR+ at www.sedarplus.ca .

Website: www.RUAGOLD.com

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and specifically include statements regarding: the filing of the Supplement, the size of the Offering, the intended use of the net proceeds of the Offering, the timing of the Closing Date and completion of the Offering, the exercise of the Over-Allotment Option, the receipt of all necessary regulatory approvals; the Company’s strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Reefton and Glamorgan projects and the results thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statement.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s short form base shelf prospectus dated July 11, 2024 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

SOURCE Rua Gold Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/February2025/12/c7692.html

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(TheNewswire)

LaFleur Minerals Inc.

VANCOUVER, BC February 12, 2025 TheNewswire – LAFLEUR MINERALS INC. ( CSE: LFLR, OTCQB: LFLRF ) (the ‘ Company ‘) announces that, further to its news releases on December 11, 2024 and January 20, 2025, it has completed the second tranche of a non-brokered private placement and issued 500,000 units of the Company (the ‘ Units ‘) at a price of $0.30 per Unit for gross proceeds of $150,000 (the ‘ Offering ‘).

Each Unit is comprised of one common share in the capital of the Company (a ‘ Share ‘) and one Share purchase warrant (a ‘ Warrant ‘). Each Warrant entitles the holder thereof to acquire one additional Share (a ‘ Warrant Share ‘) at a price of $0.55 per Warrant Share for a period of two (2) years from the date of closing (the ‘ Closing Date ‘). The Warrants will be subject to an accelerated expiry upon thirty (30) business days notice from the Company in the event the closing price of the Shares on the Canadian Securities Exchange is equal to or above a price of $0.65 for ten (10) consecutive trading days anytime after four (4) months following the Closing Date.

The net proceeds of the Offering are expected to be used for the advancement of the Company’s mineral properties and for general working capital purposes. The securities issued under the Offering are subject to a statutory hold period in Canada expiring four (4) months and one day from the Closing Date.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About LaFleur Minerals Inc.

LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF ) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Project and the Beacon Gold Mill and Property, which have significant potential to deliver long-term value. The Swanson Gold Project is over 15,000 hectares (150 km 2 ) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road with a rail line running through the property allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Minerals’ fully-refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

ON BEHALF OF LAFLEUR MINERALS INC.

Paul Ténière, P.Geo.
Chief Executive Officer
E:
info@lafleurminerals.com

LaFleur Minerals Inc.

1500-1055 West Georgia Street

Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2025 TheNewswire – All rights reserved.

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Trading resumes in:

Company: Mawson Finland Limited

TSX-Venture Symbol: MFL

All Issues: Yes

Resumption (ET): 8:00 am 2/13/2025

CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .

SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions

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