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US President Donald Trump has once again raised the idea of Canada becoming the 51st state, this time linking the prospect to the country’s vast array of natural resources.

His remarks, made during an in-flight conversation with reporters on Air Force One, coincided with his plans to levy 25 percent tariffs on all steel and aluminum imports — including from Canada and Mexico.

‘They don’t pay very much for the military, and the reason they don’t pay much is they assume that we’re going to protect them,’ Trump said. ‘That’s not an assumption they can make, because why are we protecting another country?’

He went on to suggest Canada is “not viable as a country,” hinting that integration with the US could be a solution.

Late last week, Canadian Prime Minister Justin Trudeau, speaking behind closed doors to business and labor leaders, was overheard acknowledging that Trump’s talk of absorbing Canada into the US is “a real thing.”

According to CBC, Trudeau’s remarks were accidentally broadcast over a loudspeaker. “Mr. Trump has it in mind that the easiest way to do it is absorbing our country, and it is a real thing,” he said before the audio cut out.

The Associated Press reported that Trudeau’s office has not responded to requests for comment, but Alberta Federation of Labor President Gil McGowan later confirmed the prime minister’s assessment.

McGowan, who was at the meeting, wrote on social media that Trudeau believes Trump’s real agenda is not just about fentanyl, immigration or even the trade deficit, but about dominating Canada economically — or taking it outright.

Canada-US trade war escalates

Days after Trudeau’s remarks were leaked, Trump confirmed his administration will impose 25 percent tariffs on Canadian steel and aluminum imports, reviving a trade war that first erupted in 2018.

Back then, the Trump administration imposed similar tariffs under the justification of national security concerns, prompting Canada to retaliate with counter tariffs on US goods such as orange juice and whiskey.

The dispute ended in 2019, when an agreement was reached to monitor steel and aluminum flows, preventing so-called ‘surges’ in imports. Trump has long criticized the Canada-US-Mexico Agreement (CUSMA), the successor to the North American Free Trade Agreement (NAFTA), and has vowed to renegotiate it.

The agreement is scheduled for a mandatory review in 2026, but Québec Premier François Legault called for immediate discussions in a recent social media post to prevent further economic uncertainty.

Ontario Premier Doug Ford echoed those concerns, calling Trump’s trade policies a destabilizing force.

‘This is the next four years — shifting goalposts and constant chaos, putting our economy at risk,’ Ford said in a post on X, formerly known as Twitter, on Sunday (February 9).

‘Fentanyl crisis’ at the forefront of trade relations

Trump’s latest tariffs have been tied to his broader concerns over border security, particularly the trafficking of fentanyl and illegal immigration, issues that he raised on the campaign trail.

Earlier this month, he threatened to impose sweeping 25 percent tariffs on all Canadian and Mexican imports starting February 1 unless both countries took stronger measures to secure their borders. After negotiations with Trudeau and Mexican President Claudia Sheinbaum, the White House agreed to delay the tariffs for 30 days.

Canada has since announced a US$1.3 billion border security initiative, which includes increased patrols, aerial surveillance and the appointment of a new “fentanyl czar” to coordinate efforts with US officials.

Despite the extension, Trudeau has made it clear that Canada won’t accept blame for America’s fentanyl crisis.

“We need to be very deliberate about how we continue to engage closely with the United States to make the case that Canada is responsible for a tiny part of the North American fentanyl problem, but that we are also bitterly touched by this tragedy,” the prime minister said in public remarks on February 7.

Canada’s resource wealth in the spotlight

Trump’s remarks about Canada’s economic dependence on the US come at a time when the country is making moves to accelerate its critical minerals industry and solidify its spot in the supply chain.

Last week, the BC government shared plans to fast track 18 mining and energy projects worth about US$20 billion.

“They’re being held up in some kind of administrative or regulatory or government process,” BC Premier David Eby said of the assets, which include the Eskay Creek gold-silver project in Northwest BC. “We can expedite that, get those shovels in the ground. And with particular attention to more rural and remote communities.”

The Mining Association of BC welcomed the announcement, pointing out that Canada’s resource sector will play a crucial role in global supply chains; however, other entities have expressed concerns about deregulation.

The province has 17 additional critical mineral projects in the pipeline, with several expected to enter permitting processes this year.

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

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The BC government plans to fast track 18 resource projects to reduce the province’s dependence on US trade.

According to the CBC, the mining and energy projects are worth around C$20 billion combined, and are expected to move through the approval process at an accelerated pace amid ongoing trade tensions with the US.

The government has identified resource-dependent communities as the primary beneficiaries, as they are most vulnerable to potential trade disruptions. The projects are expected to employ 8,000 people.

‘We have a huge advantage in British Columbia here with our geographic positioning,’ Premier David Eby said in an email to the CBC. ‘We know that we have what the world needs, and we’re going to use that to our advantage.’

The properties include the Eskay Creek gold-silver project, a historic mine restart in Northwest BC, the expansion of the Red Chris gold-copper mine in the same region and the Highland Valley copper mine extension in Logan Lake.

Other projects cited are the Mount Milligan gold-copper mine near Fort St. James, the Cedar natural gas export facility in Kitimat and the NEBC Connector, a pipeline project transporting natural gas liquids from Northeast BC to Alberta.

BC Energy Minister Adrian Dix confirmed that the government will prioritize permitting and environmental assessments for these projects, though he emphasized that existing regulatory standards will be maintained.

‘It’s critically important that we move through these stages of the process, not to take away from standards, but to ensure that these projects happen in the fastest possible way,’ he said.

US export hub

According to BC Stats, the US accounted for 54 percent of the province’s exports in 2023.

Of those exports, 67 percent were in the wood, pulp and paper, metallic mineral and energy sectors. China and Japan were the next largest markets, representing 14 percent and 11 percent, respectively.

The BC government continues to evaluate additional projects for fast tracking, with further announcements expected in the coming weeks.

Fast tracked projects raise regulatory concerns

Some environmental groups have raised concerns about the fast-tracking decision.

The CBC quotes Jessica Clogg of West Coast Environmental Law, who suggests that economic uncertainty is being used to justify projects that may have otherwise faced greater scrutiny.

‘I do think it’s shameful that resource companies and the business sectors are taking advantage of the current economic instability to apparently put forward a list of potentially risky projects,’ she commented.

Several projects have also drawn opposition from Indigenous groups. The Eskay Creek and Red Chris mines have faced resistance from Alaskan Indigenous governments due to environmental concerns.

In BC, the Tahltan Nation has voiced dismay about the decision to fast track those projects, noting that they are both located in Tahltan territory and pointing to a lack of consultation.

“We fully acknowledge that developments in the United States have raised economic concerns in Canada and we share those concerns,” President Beverly Slater wrote in a February 7 statement.

“For the Tahltan Nation, our priority, as always, is ensuring that our Title and Rights, as well as our human rights, are fully upheld and respected. This involves properly assessing the economic, environmental, social, and cultural dimensions of any project proposed in our Territory consistent with any agreement that has been entered into by the Tahltan Nation and British Columbia pursuant to section 7 of the Declaration on the Rights of Indigenous Peoples Act.”

The expansion of the Highland Valley copper mine, owned by Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) has been challenged by the Skeetchestn and Tk’emlúps te Secwépemc bands in BC’s interior.

Dix stated that consultations with Indigenous communities will continue. He noted that several wind power projects are structured to be at least 50 percent Indigenous-owned.

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

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Anteros Metals Inc. (CSE: ANT) (‘Anteros’ or the ‘Company’) is pleased to announce commencement of inaugural 3D modeling at its 100%-owned critical-mineral-bearing Havens Steady Property (the ‘Property’). The Property boasts a road-accessible Volcanogenic Massive Sulphide (‘VMS’) lead-zinc-silver ±copper-gold deposit, is close to hydroelectric power, and is located in an established mining district in south-central Newfoundland. Modelling of recently-digitized historical data will allow for effective targeting of zone extensions and the identification of wider and higher-grade zones, including areas of copper-gold enrichment. Follow-up exploration is scheduled for late spring and early summer 2025.

PROPERTY HIGHLIGHTS

  • Situated in a region renowned for significant Kuroko-type VMS deposits, known for their rich polymetallic characteristics and significant economic yields
  • Geologically consistent mineral deposit with a 1,000-meter strike length of lead-zinc-silver ±copper-gold mineralization
  • Notable high-grade intercepts (Table 1), including 2.72 metres of 2.1% Cu, 3.6% Pb, 6.17% Zn, 56.42g/t Ag and 1.82g/t Au in historical drill hole HS09-18 from 97.42 to 100.14 metres
  • Road accessible and proximal to past-producing VMS mine-sites and infrastructure
  • Approximately 8,150 metres of historical drilling since 1986, the most recent of which was conducted in 2009 (approximately 1,145 metres)
  • Fully permitted for exploration diamond drilling from the Mineral Lands Division of Newfoundland and Labrador

LOCATION AND MINERAL TENURE

The Property lies 15 kilometres south of the past-producing Duck Pond lead-zinc-copper VMS mine and 40 kilometres southeast of the town of Buchans (Figure 1). The Property is comprised by seven claims covering 175 hectares in the prolific Buchans-Victoria Lake area. Hosted by rocks of the Red Cross Group volcanic belt, the Property hosts high-grade VMS-style base and precious metal mineralization, including critical minerals zinc and copper.

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Figure 1: Havens Steady Property location (1:350,000 scale)

To view an enhanced version of this graphic, please visit:
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REGIONAL AND PROPERTY GEOLOGY

The Havens Steady Property is situated within the Central Mobile Belt of the Dunnage Zone in Newfoundland and Labrador. The region is underlain by sequences of Cambrian to Silurian volcanic and sedimentary rocks and related intrusive rocks. The Property borders the Victoria Lake Supergroup, a complex assortment of several distinct volcanic sequences, some of which host world class VMS deposits such as the past-producing Duck Pond VMS Mine, which had reserves of 4.078 million tonnes grading 3.29% Cu, 5.68% Zn, 59.3g/t Ag and 0.86g/t Au and an additional inferred and measured 1.073 million tonnes of 3.04% Cu, 7.05% Zn, 71.2g/t Ag and 0.8g/t Au prior to the commencement of mining operations in 2006 (Canadian Mining Journal, Aug 1, 2006).

The Property is dominated by felsic volcanic rocks interbedded with graphitic argillites and siltstones (Figure 2). Extensive sericitization and silicification within the felsic volcanic units occurs with chloritic alteration associated near zones of massive sulfides and stringer sulfides, including significant occurrences of sphalerite and galena. This geological setting mirrors that of Kuroko-type VMS deposits known for their rich polymetallic content and significant economic yields, as exemplified by the renowned Kuroko deposits in Japan.

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Figure 2: Geology, geophysics, and historical drilling at Havens Steady

To view an enhanced version of this graphic, please visit:
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Since acquiring the Property in January 2024, Anteros has performed comprehensive digital compilation of the historical exploration data. Compilation confirmed that previous geophysical work, including airborne electromagnetics, identified multiple conductive anomalies consistent with the presence of sulfide mineralization. Additionally, historic drill programs have outlined multiple zones of high-grade lead, zinc, silver, and copper mineralization demonstrated by the presence of sphalerite and galena with bornite and chalcopyrite in copper-rich zones. The known deposit area has a strike length of at least 1,000 metres and historic drilling shows mineralization extending to over 800 metres below surface.

Anteros has now initiated inaugural 3D modeling of the various mineralized horizons within the deposit. This modeling effort will enable precise targeting of higher-grade zones and the extension of known zones, including those enriched with copper and gold. Drill testing is scheduled to commence in late spring/early summer of 2025, and will become part of an inaugural mineral resource estimate.

HISTORIC DRILLING HIGHLIGHTS

Length-weighted intercepts from historical drill holes completed at Havens Steady appear in Table 1.

Table 1: Length-weighted intercepts from historical drilling at Havens Steady

Drill Hole From (m) To (m) Int. (m) Cu % Pb % Zn % Ag g/t Au g/t ZnEq*
HS-87A-86 33.10 73.60 40.50 0.01 0.68 0.81 8.40 0.07 1.74
including 71.25 72.60 1.35 0.03 1.96 6.03 53.49 0.14 9.53
HS-87-2 9.20 68.90 59.70 0.11 0.17 0.66 8.30 0.23 2.05
including 67.30 67.60 0.30 0.04 0.70 16.30 47.8 0.07 18.67
HS-87-2 103.35 107.10 3.75 0.06 0.72 3.91 n/a 0.12 4.89
HS-88-01 170.00 218.60 48.60 0.01 0.19 0.50 3.70 0.07 0.97
including 170.00 172.00 2.00 0.03 0.35 3.58 19.8 0.07 4.76
HS-88-02 62.50 64.60 2.10 0.27 1.28 4.45 30.81 0.37 8.19
HS-88-03 182.00 250.00 68.00 0.09 0.55 1.45 11.80 0.20 3.04
including 182.40 185.00 2.60 0.91 1.32 6.44 45.68 1.99 17.35
including 191.00 192.00 1.00 0.30 3.56 5.98 32.50 0.55 11.79
including 199.70 201.00 1.30 0.20 3.56 4.52 37.80 0.27 9.39
HS-88-05 286.00 287.00 1.00 0.22 4.48 16.80 21.00 0.21 21.57
HS-88-05 298.00 395.70 97.70 0.04 0.33 1.57 9.20 0.09 2.47
including 298.00 302.00 4.00 0.30 0.74 3.62 21.38 0.14 6.17
HS-88-05 317.00 322.00 5.00 0.09 0.41 2.43 14.40 0.19 3.99
HS-88-05 332.60 337.50 4.90 0.05 0.88 3.64 22.96 0.07 5.31
HS-88-05 345.40 349.40 4.00 0.01 0.49 2.97 15.00 0.07 4.01
HS-88-05 374.60 378.60 4.00 0.01 0.76 4.11 11.90 0.07 5.21
HS-88-06 108.50 109.50 1.00 0.66 0.23 6.52 28.00 0.55 11.30
HS-88-06 130.00 134.00 4.00 0.03 0.67 2.23 5.53 0.07 3.12
HS-88-07 410.40 413.90 3.50 0.14 2.72 9.89 28.43 0.54 14.49
HS-88-07 457.85 460.70 2.85 0.18 1.08 7.13 33.71 0.16 9.97
HS-88-07 476.70 516.70 40.00 0.01 0.26 1.07 7.60 0.08 1.75
including 484.70 487.70 3.00 0.01 0.44 2.72 9.67 0.07 3.55
HS-88-07 504.60 511.70 7.10 0.02 0.58 2.47 16.90 0.11 3.77
HS90-11 573.70 575.20 1.50 0.01 0.84 3.71 15.75 0.01 4.82
HS09-17 68.00 89.90 21.90 0.01 0.28 1.00 6.70 0.03 1.51
including 69.00 73.70 4.70 0.01 0.61 1.69 12.89 0.04 2.64
HS09-18 32.25 34.25 2.00 0.02 0.42 2.11 9.02 0.03 2.82
HS09-18 66.30 68.30 2.00 0.10 0.21 2.26 12.65 0.11 3.45
HS09-18 88.31 88.81 0.50 1.19 1.57 9.70 67.50 2.72 24.46
HS09-18 92.30 100.14 7.84 0.86 1.68 3.64 26.22 0.86 10.78
including 97.42 100.14 2.72 2.10 3.60 6.17 56.42 1.82 22.25
HS09-18 126.50 135.50 9.00 0.44 0.89 3.92 31.46 0.21 7.55
HS09-18 153.90 165.20 11.30 0.08 0.62 2.18 19.06 0.08 3.69
including 158.30 161.30 3.00 0.02 1.07 3.93 24.80 0.05 5.63
HS09-20 92.56 103.10 10.54 0.03 0.47 1.23 16.89 0.07 2.38
including 98.06 99.75 1.69 0.14 1.82 4.01 90.39 0.22 9.25
HS09-20 116.30 125.55 9.25 0.11 0.63 1.76 25.25 0.04 3.47
including 123.05 124.55 1.50 0.16 0.89 3.29 42.83 0.07 6.00
HS09-21 98.38 99.87 1.49 1.26 1.98 5.71 87.61 1.99 19.58
HS09-21 133.77 159.15 25.38 0.10 0.52 1.78 13.74 0.09 3.14
including 142.61 146.61 4.00 0.09 1.54 3.24 27.90 0.20 5.98

 

*Zinc Equivalent (‘ZnEq’) calculated using US$4.25/lb Cu, $0.8/lb Pb, $1.3/lb Zn, $30/oz Ag, and $2500/oz Au, and assumes 100% recovery

QUALIFIED PERSON

Jesse Halle, P. Geo., an independent Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the technical material contained in this news release and approves the content of the News Release.

ABOUT Anteros Metals Inc.

Anteros is a multimineral junior mining company using data science to target and acquire highly prospective deposits for exploration and development throughout Newfoundland and Labrador. The Company is currently focused on advancing four key projects across diverse commodities and development horizons. Immediate plans for their flagship Knob Lake Property include bringing the historical Fe-Mn Mineral Resource Estimate into current status as well as commencing baseline environmental and feasibility studies.

For further information please contact or visit:

Email: info@anterosmetals.com | Phone: +1-709-769-1151
Web: www.anterosmetals.com

Social: @anterosmetals

On behalf of the Board of Directors,

Chris Morrison

Director
Email: chris@anterosmetals.com | Phone: +1-709-725-6520

Web: www.anterosmetals.com/contact

16 Forest Road, Suite 200
St. John’s, NL, Canada
A1X 2B9

Cautionary Statement Regarding Forward-Looking Information

This news release may contain ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

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The availability of CWENCH Hydration at 54 MacEwen-owned Esso , Shell , MacEwen and Quickie gas stations is a direct result of the recently announced distribution agreement between Cizzle Brands Corporation and Keurig Dr Pepper Canada subsidiary Van Houtte Coffee Services (‘VHCS’), which distributes to over 30,000 commercial sites across Canada. This agreement with VHCS has already yielded meaningful results in helping to commercialize CWENCH Hydration™.

Cizzle Brands Corporation (Cboe Canada: CZZL) (OTC: CZZLF) (Frankfurt: 8YF) ( the ‘Company’ or ‘Cizzle Brands’) is pleased to announce that the Blue Raspberry and Rainbow ready-to-drink (‘RTD’) flavours of its flagship brand CWENCH Hydration™ are now being carried in 54 Esso , Shell , MacEwen , and Quickie gas stations in Ontario and Quebec that are owned and operated by MacEwen Petroleum .

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250211625004/en/

CWENCH Hydration ready-to-drink flavours seen in a fridge at a MacEwen-owned gas station. The availability of CWENCH Hydration at MacEwen is an example of one of the many benefits of Cizzle Brands

CWENCH Hydration ready-to-drink flavours seen in a fridge at a MacEwen-owned gas station. The availability of CWENCH Hydration at MacEwen is an example of one of the many benefits of Cizzle Brands’ relationship with Van Houtte Coffee Services. (Photo: Business Wire)

This chain placement of CWENCH Hydration™ products was secured by Van Houtte Coffee Services (‘VHCS’), which is a subsidiary of Keurig Canada Inc., doing business as Keurig Dr Pepper Canada. In a press release dated January 29, 2025 , Cizzle Brands announced its distribution agreement with VHCS, in which VHCS would distribute the Company’s product lines across Canada and take over distributorship for certain existing Cizzle Brands accounts in categories including sporting goods retailers and stadiums.

Cizzle Brands highlights the following aspects of the MacEwen placement, with respect to the foreseeable business value that can be generated through the Company’s relationship with VHCS:

  • Within just the first few weeks of distributing for Cizzle Brands, VHCS has already landed a full-chain placement with an operator of 54 retail locations in two provinces under major banners that include Esso and Shell;
  • This placement has also brought CWENCH Hydration™ into the gas/convenience channel, a retail category in which single-serving beverages are often purchased routinely by consumers;
  • VHCS services over 30,000 commercial sites in total, meaning that there is tremendous untapped potential for CWENCH Hydration™ and potentially other Cizzle Brands products to be placed within a portfolio of tens of thousands of points of sale/consumption across Canada; and
  • With established and highly efficient infrastructure for warehousing, distribution, and last-mile delivery, VHCS provides the ability to instantly scale CWENCH Hydration™’s Canadian footprint in a way that preserves Cizzle Brands’ margins without the cost burden of creating or maintaining a logistics network.

Cizzle Brands Founder, Chairman, and Chief Executive Officer, John Celenza commented, ‘Working with VHCS was a transformational step for Cizzle Brands, as it enables us to commercialize CWENCH Hydration™ at a mass scale in a short amount of time. Making the product available to consumers in convenient locations is a key part of driving brand adoption in the beverage category, and this partnership with VHCS gives us the ability to accelerate that availability at a scale that is not normally possible for newer brands on the market. More specifically, major beverage distributors such as Keurig Dr Pepper do not normally take on brands that have only recently launched. Following the market debut of CWENCH Hydration™ in May of 2024, we have steadily built grassroots-level demand, and we believe that VHCS will be an important catalyst for this natural next step in our growth journey. CWENCH Hydration™ has only been placed in a small percentage of VHCS’ accounts so far, and just a couple of weeks into the relationship, this truly is just the beginning.’

About Cizzle Brands Corporation

Cizzle Brands Corporation is elevating the game in health and wellness. Through extensive collaboration and testing with leading athletes and trainers across several elite sports, Cizzle Brands has launched two leading product lines in the sports nutrition category: (i) CWENCH Hydration, a better-for-you sports drink that is now carried in over 1,200 stores in Canada, the United States, and Europe; and (ii) Spoken Nutrition, a premium brand of athlete-grade nutraceuticals that carry the prestigious NSF Certified for Sport® qualification. All Cizzle Brands products are designed to help people achieve their best in both competitive sports and in living a healthy, vibrant, active lifestyle.

For more information about Cizzle Brands, please visit: https://www.cizzlebrands.com/

For more information about CWENCH, please visit: https://www.cwenchhydration.com

Notice Regarding Images and Links: This press release may contain images and/or links to outside web pages, which could play an important role in providing the full context of the news update being conveyed through this press release. Some news aggregation services may remove these images and/or links at their discretion. Therefore, readers are encouraged to access SEDAR+ or the News section of the Cizzle Brands Corporation website to view this press release containing all images and/or links as originally published.

On behalf of the Board of Directors of the Company,

Cizzle Brands Corporation

‘John Celenza’

John Celenza, Founder, Chairman, and Chief Executive Officer

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains ‘forward-looking information’ which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, such as, but not limited to: new products of the Company and potential sales and distribution opportunities. Such forward-looking information is often, but not always, identified by the use of words and phrases such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’ or variations (including negative variations) of such words and phrases, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.

Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, capitalization and liquidity risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250211625004/en/

For further information, please contact:

Setti Coscarella
Head of Corporate Development
investors@cizzlebrands.com
1-844-588-2088

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With a portfolio of past-producing gold assets with a resource potential of 1 to 4 million ounces, Providence Gold Mines (TSXV:PHD,OTCQB:PRRVF,GR-FRANKFURT:7RH1) is a compelling investment opportunity for those seeking exposure to high-potential gold assets amid a current gold bull market.

Providence Gold Mines focuses on revitalizing the historic Providence Group of Mines. The company aims to unlock the potential of its high-grade gold deposits within the Mother Lode Gold Belt in Sonora, California. This prolific gold district has historically reportedly produced over 128 million ounces of gold, making it one of North America’s most significant gold-producing regions.

Providence Gold Mines gold intrusions

The Providence Group of Mines consists of seven patented mineral claims: Bonita, Consuelo, Fair Play, Good Enough, McCarthy, Mexican and Providence. With a portfolio of past-producing gold mines, high-grade drill targets, and a near-term pathway to production through stockpile processing, the company is poised to generate significant value for shareholders.

Company Highlights

  • Providence Gold controls a portfolio of gold mines in Tuolumne County, California, situated in the heart of the historic Mother Lode district, a region that has produced over 128 million ounces of gold to date.
  • The Providence Group of Gold Mines, consisting of seven patented staked mineral claims, was historically a high-grade producer, with reported grades grossly exceeding 1.0 oz/ton.
  • The company has identified gold-bearing stockpiles from historical operations that could provide an immediate cash-flow opportunity through simple gravity-based processing.
  • Utilizing 3D terrestrial LIDAR laser scanning technology and traditional exploration methods, Providence Gold has identified new high-grade drill targets beneath and between historical stopes, supporting a resource potential estimate of 1 to 4 million ounces.
  • The company has outlined a 4,000-meter core drilling program, targeting high-grade zones identified through 3D modeling, trenching and soil geo chemistry and traditional mapping.

This Providence Gold MInes profile is part of a paid investor education campaign.*

Click here to connect with Providence Gold Mines (TSXV:PHD) to receive an Investor Presentation

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(TheNewswire)

Opawica Explorations Inc.

February 11, 2025 Vancouver, B.C. TheNewswire – Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the ‘Company’ or ‘Opawica’), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, today announces plans for an extensive drill program starting on its Bazooka Property (‘Bazooka’) in the Abitibi Gold Belt.

Currently 45 drill targets have been developed in collaboration with ALS GoldSpot Discoveries Ltd and Opawica Explorations Inc. for the Bazooka and Arrowhead Properties.  The team integration of vast amount drill data, including geological, structural, alteration, mineralogical, geochemical, and Televiewer data information has provided which have provided a deeper insight the geology on both Projects. The data to date supports a 20,000-meter drill program.


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Quebec is globally recognized as a premier jurisdiction for mineral exploration and extraction. Consistently ranked among the top mining-friendly regions by the Fraser Institute, Quebec boasts a strong natural resource-based economy with a rich history in mining and mineral processing.

The Abitibi Gold Belt hosts several major gold producers, from world-renowned producing gold and industrial metal majors to junior explorers. While renowned for its rich gold mining history, the belt has yielded over 300 million ounces of silver, 15 billion tons of copper, and 35 billion tons of zinc from its base metal mines. (Visual Capitalist website).

Tier-1 Gold Producers Surround the Bazooka and Arrowhead Properties

Established in 1957, Agnico is one of the region’s largest gold producers, with key operations at the LaRonde, Goldex, and Canadian Malartic mines. LaRonde, one of Canada’s largest gold mines, has produced over 5 million ounces of gold, while Agnico’s 50% stake in Canadian Malartic (fully acquired in 2023) solidifies its dominance in the region.

In 2022, Agnico Eagle Mines Ltd. completed a $13.5 billion merger with Kirkland Lake Gold, consolidating major assets in the belt including the high-grade Macassa Mine and Detour Lake Mine. Agnico Eagle further expanded in 2023 by acquiring Yamana Gold Inc.’s 50% stake in the Canadian Malartic Mine, gaining full ownership, while other Yamana assets were acquired by Gold Fields Ltd.

Newmont Corporation, the world’s largest gold producer, strengthened its foothold in the region with the 2019 acquisition of Goldcorp Inc. for $10 billion. The acquisition included key Canadian assets such as the Porcupine Gold Mines in Timmins, Ontario. In addition, Hecla Mining expanded its Canadian footprint in 2022 through the acquisition of Alexco Resource Corp, primarily focused on silver but with future potential for gold exploration.

The region remained active for acquisition activity last year, with Quebec-based explorer Yorbeau Resources Inc. agreeing to sell its flagship Rouyn gold property to Lac Gold Pty Ltd. C$25 million. The Rouyn property spans a 12-km section of the Cadillac-Larder Lake Break, a major fault zone in Quebec’s Abitibi region, covering nearly 27 km².

To date, Opawica has only drilled and explored 15% of the Bazooka project, leaving 85% still untouched. Historically, the explored portion of Bazooka has yielded high-grade drill intercepts ranging from 7.5 grams per ton (gpt) Au over 25.77m and reaching up to 316.23 gpt over a 1-meter section in Hole #BA-03-02A.

As gold prices continue to rise and new discoveries are made, the jurisdiction-friendly Abitibi Gold Belt is expected to remain one of the world’s top gold-producing regions. Opawica aims to capitalize on favorable price fundamentals by unlocking Bazooka’s gold mineralization potential through this new drill campaign.

Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.

About Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 236-878-4938

Fax: 604-681-3552

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2025 TheNewswire – All rights reserved.

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A combined ground EM and Resistivity survey will begin in early March on the Spring Bay target

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (the ‘Company’ or ‘Forum’) and Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) (‘Global’) are pleased to announce that camp construction on the Northwest Athabasca Project has been initiated. In addition, plans are underway to conduct a Time Domain Electromagnetic Survey (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) Survey on its Spring Bay target located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figures 1, 2). Geophysical work is expected to commence in March. Global has an option to earn 51% interest in Forum’s interest in the NWA Project by spending up to $9M over four years (see News Release dated May 30, 2024). Forum is the Operator of the Northwest Athabasca Project.

‘The integration of historical geophysical datasets and legacy drill results gives us an advantage in identifying areas of high potential,’ stated Ungad Chadda, CEO of Global Uranium. ‘We are pleased that the Forum exploration team’s knowledge and experience in Saskatchewan unconformity-style uranium deposits will shape the refined targeting strategy at the NWA Project, positioning us to unlock the site’s full value potential.’

Rick Mazur, CEO of Forum Energy Metals stated, ‘Forum is excited to be building a camp and working again on the Northwest Athabasca Project. Refinement of the drill targeting is key to success and the TDEM and DCIP surveys will improve drill target precision of the prospective Spring Bay area.’

Camp Construction and Winter Geophysical Surveys

A 20-person camp is planned on the west side of Maurice Bay on the Northwest Athabasca Project (Figure 2). The camp materials will be mobilized to site via a combination of fixed-wing aircraft on skis as well as by ice road from Uranium City. Currently camp and drilling equipment and materials are being shipped and staged in Fond du Lac and Uranium City.

The Spring Bay target hosts a 4 km long, strong gravity low anomaly, which is coincident with historical drill holes that have intersected elevated uranium and anomalous clay alteration. To refine drill targeting, new ground electromagnetic and resistivity surveys are proposed. A small moving loop TDEM survey is planned to help refine and understand the orientation and strength of the conductors in the area. A larger DCIP survey is planned to provide resistivity and chargeability data over the Spring Bay target, which will help identify clay alteration systems at depth. Both the TDEM and DCIP surveys will be used to refine targeting within the large Spring Bay gravity low anomaly.

The Northwest Athabasca Project

The Northwest Athabasca Project is located along the northwest shore of Lake Athabasca on the margin of the Athabasca Basin 1,000 km north-northwest of Saskatoon. The western margin of the property is situated along the Alberta – Saskatchewan provincial border and the closest community is Uranium City, which is 75 km east of the project. The project consists of 11 contiguous mineral claims covering 13,876 ha. The project hosts the Maurice Bay Showing, which contains a non-43-101 historical resource estimate documented at 1.5 million lbs at 0.6% U3O81,2.

1Lehnert-Thiel, K., and Kretschmar, W., 1979, The discovery of the Maurice Bay uranium deposit and exploration case history (abs.): Canadian Institute of Mining and Metallurgy District 4, Fourth Annual Meeting, Winnipeg, 1979, unpublished manuscript, 3 p.

2The historical resource estimate, however, was not prepared in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’). While the Company believes the historical estimate to be relevant given the extensive exploration work completed by Uranerz, a qualified person has not completed sufficient work to verify and classify the historical estimate as a current ‎mineral resource and the Company is not treating the historical estimate as a current mineral resource. As such, ‎the historical estimate should not be relied upon.

Qualified Person

Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Quality Assurance and Quality Control

For a discussion of the QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled ‘NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00’ N, Longitude 109°54’00’ W’, with an effective date of June 27, 2024, which is available under the Global Uranium’s profile at www.sedarplus.ca.

Investor Relations Agreement

FMC is also pleased to announce that it has entered into an advertising/e-marketing contract with 1001103323 Ontario Inc. to provide marketing services, including social media engagement through X (formerly Twitter), Facebook, YouTube and Reddit. The initial term of the agreement is 90 days, starting on February 11, 2025, and may be renewed with mutual written agreement. During the initial term, 1001103323 Ontario Inc. will be paid an upfront fee of CAD$20,000.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp./NexGen Energy Ltd./Cameco Corporation/Orano Canada Inc. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

Cannot view this image? Visit: https://insiderlegacysecret.com/wp-content/uploads/2025/02/240364_3d8197e9148ee9c1_003.jpg

Figure 1 Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta – Saskatchewan Border. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/240364_3d8197e9148ee9c1_003full.jpg

Cannot view this image? Visit: https://insiderlegacysecret.com/wp-content/uploads/2025/02/240364_3d8197e9148ee9c1_004.jpg

Figure 2 The Spring Bay Target area and the camp location. The proposed location of the TDEM and DCIP surveys are shown and the background is the residual gravity.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/240364_3d8197e9148ee9c1_004full.jpg

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240364

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Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J ) (the ‘ Company ‘) and Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (‘ Forum ‘) are pleased to announce that camp construction on the Northwest Athabasca Project has been initiated. In addition, plans are underway to conduct a Time Domain Electromagnetic Survey (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) Survey on its Spring Bay target located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figures 1, 2). Geophysical work is expected to commence in March. Global has an option to earn 51% interest in Forum’s interest in the NWA Project by spending up to $9M over four years (see News Release dated May 30, 2024). Forum is the Operator of the Northwest Athabasca Project.

‘The integration of historical geophysical datasets and legacy drill results gives us an advantage in identifying areas of high potential,’ stated Ungad Chadda, CEO of Global Uranium. ‘We are pleased that the Forum exploration team’s knowledge and experience in Saskatchewan unconformity-style uranium deposits will shape the refined targeting strategy at the NWA Project, positioning us to unlock the site’s full value potential.’

Rick Mazur, CEO of Forum Energy Metals stated, ‘Forum is excited to be building a camp and working again on the Northwest Athabasca Project. Refinement of the drill targeting is key to success and the TDEM and DCIP surveys will improve drill target precision of the prospective Spring Bay area.’

Camp Construction and Winter Geophysical Surveys

A 20-person camp is planned on the west side of Maurice Bay on the Northwest Athabasca Project (Figure 2). The camp materials will be mobilized to site via a combination of fixed-wing aircraft on skis as well as by ice road from Uranium City. Currently camp and drilling equipment and materials are being shipped and staged in Fond du Lac and Uranium City.

The Spring Bay target hosts a 4 km long, strong gravity low anomaly, which is coincident with historical drill holes that have intersected elevated uranium and anomalous clay alteration. To refine drill targeting, new ground electromagnetic and resistivity surveys are proposed. A small moving loop TDEM survey is planned to help refine and understand the orientation and strength of the conductors in the area. A larger DCIP survey is planned to provide resistivity and chargeability data over the Spring Bay target, which will help identify clay alteration systems at depth. Both the TDEM and DCIP surveys will be used to refine targeting within the large Spring Bay gravity low anomaly.

Figure 1

Figure 1 Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta – Saskatchewan Border.

Figure 2

Figure 2 The Spring Bay Target area and the camp location . The proposed location of the TDEM and DCIP surveys are shown and the background is the residual gravity.

Qualified Person
Jared Suchan, Ph.D., P.Geo., Global Uranium’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Quality Assurance and Quality Control
For a discussion of the QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled ‘NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00’ N, Longitude 109°54’00’ W’, with an effective date of June 27, 2024, which is available under the Global Uranium’s profile at www.sedarplus.ca .

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

About Forum Energy Metals

Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com .

On Behalf of The Management Team

Ungad Chadda
CEO
587-330-0045
info@globaluranium.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words ‘could’, ‘intend’, ‘expect’, ‘believe’, ‘will’, ‘projected’, ‘estimated’ and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the intention to continue exploration efforts on the Project with the aim of further unlocking the Project’s potential; and the expectation that natural attenuation will allow the site to recover without further action.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this ‎press release.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/65767b2c-1478-4972-92ae-10740ee83449

https://www.globenewswire.com/NewsRoom/AttachmentNg/bbf56b3c-5080-4766-8ef6-77357d489c7c

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Visit Metals Australia Limited (ASX: MLS) at Booth #2333 at the Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025.

About Metals Australia Limited

Metals Australia Ltd has a proven track record of Critical Minerals and metals discovery and has a quality portfolio of advanced exploration and pre-development projects in the highly endowed and well-established mining jurisdictions of Quebec, Canada; Western Australia and the Northern Territory of Australia.

The Company is focused on the exploration and development of its flagship Lac Carheil high-grade flake-graphite project in Quebec – a high-quality project which is well placed for the future delivery of premium, battery-grade graphite to the North American lithium-ion/EV battery market, and other flake-graphite products. An extensive drilling program to expand the project Mineral Resource and already commenced prefeasibility study work are both expected to be completed during 2025.

Metals Australia is also advancing its Gold, Base Metals, and lithium exploration projects in the world-class James Bay region of Quebec at the Corvette River Project. The Company has identified 3 gold mineralised corridors – as well as lithium-bearing pegmatites immediately along strike from Patriot Battery Metals’ world-class lithium pegmatite discoveries. Further exploration work to advance the gold projects is also anticipated in 2025.

About PDAC

The World’s Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events.

The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world’s mineral industry.

For more information and/or to register for the conference please visit: https://www.pdac.ca/convention.

We look forward to seeing you there.

For further information:

Metals Australia Limited
Mr Paul Ferguson
+61 8 9481 7833
investors@metalsaustralia.com.au
https://metalsaustralia.com.au/

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Gold has long served as a tool for investors to enhance their portfolios and protect against volatility.

At the Vancouver Resource Investment Conference, CEO Jay Martin engaged with industry experts Frank Giustra, Grant Williams, Alastair Still and David Garofalo to explore trends currently affecting the sector.

The group illustrated a market at a crucial juncture, with changing investor sentiment, geopolitical tensions and impending financial instability converging to potentially create the perfect storm.

Eastern vs. western perspectives on gold

Martin kicked the panel off by reviewing the last several years in the gold market. Looking back at 2019 and 2020, he noted that an influx of western investors helped pushed the metal’s price to phenomenal levels.

However, as the fallout from the COVID-19 pandemic drove inflation and interest rates, these investors became sellers, and gold started to sink. Capitalizing on these lower price points, central banks moved into the market and not only stabilized the price, but caused it to surge to all-time highs. By mid-2024, gold was 70 percent above its 2022 low.

Frank Giustra, CEO of the Fiore Group, largely agreed with Martin’s summary of gold’s activity, but added that while he thinks central bank buying will continue, there is more going on than meets the eye.

“What most people don’t understand about gold is that it’s not that the gold price is going up — it’s the fact that the fiat currencies that are measured against it are going down in value for a whole host of reasons,’ he said.

Giustra sees the US fiscal situation as a factor pushing the gold price up, and suggested that the situation is not only beyond repair, but also on the precipice of a crisis. “At some point there will be a US dollar crisis. It’s going to happen in our lifetimes, probably sooner rather than later, and when that happens, gold will go through the roof,’ he noted.

Grant Williams, author at Things That Make You Go Hmmm, expanded on Giustra’s point, outlining a critical difference between the east and west. “In the east, people don’t buy gold to sell it because the price has gone up. They buy gold to own it, and when they do sell it, it’s because they need to raise money for something important,” he said.

Williams also suggested that the west is at the end of a cycle. In his view, investors are attempting to maximize their returns in any way possible, and the system is corrupt and lacks consequences.

“This is going to come to a head. We’re in the middle of that process now, and at the end of that process, when these cycles fall over, the one thing you want to own is gold,’ he explained at the conference.

‘We are moving into the part of this where it’s not just a good idea to own gold anymore — it’s essential to own gold. And I think the price is going to reflect that in the coming 12 to 18 months.’

Tech stocks, Bitcoin distracting investors from gold

The panelists agreed that today’s investors are distracted as tech and Bitcoin dominate headlines.

While technology stocks still follow the typical market ebbs and flows, cryptocurrencies are a different story.

Giustra even compared the crypto space to a Ponzi scheme, pointing to one influential commenter who has suggested that Bitcoin will reach a value of US$13 million and gold will reach zero.

“These are ridiculous statements, but he needs to make those kinds of statements to keep the greed factor going. In any pyramid scheme, you need to have new buyers all the time to keep the game going,” he said.

Giustra also outlined how the cryptocurrency space has influenced the recent US election, spending US$245 million to influence Congress and the incoming president to ease regulations. This comes from a shifting narrative that implies crypto is a store of value. Giustra believes it’s an asset class in search of a purpose.

GoldMining (TSX:GOLD,NYSEAMERICAN:GLDG) CEO Alastair Still backed Giustra, saying that unlike gold, Bitcoins can be created every day, while gold’s limited supply is inherently connected to its store of value.

Still described how resource scarcity has been tested, outlining how geopolitically stable jurisdictions are diminishing. At the same time, mining companies have underinvested in exploration and been slow to find new assets.

“So while I think many investors are a little behind the curve,’ he explained at VRIC.

‘What we have seen is the major operating companies, they’re running deficits in their reserves, so they’re not replacing what they’re mining, and that’s because they’ve been underfunding exploration for years.’

Gold majors dealing with low grades, declining reserves

The systemic underfunding of exploration could be an opportunity for explorers and developers to start acquiring projects that will be sought by majors in the future. As it stands, miners are having to maximize extraction efforts.

“The operators are mining lower grades. That doesn’t necessarily mean they’re making more gold. They might make more profit, but they are actually potentially mining less gold,” Still commented.

David Garofalo, CEO, president, chairman and director at Gold Royalty (NYSEAMERICAN:GROY), agreed that operators are facing a challenge. “They’re facing a squeeze from tiny reserves, and reserves are down 40 percent. That’s demonstrated because the juniors haven’t had access to capital for over a dozen years,” he said.

He went on to explain that the entire industry is facing cost pressures.

All-in-sustaining costs have risen along with the price of gold, leading to a squeeze among producers. Much of this is due to inflation, which has resonated throughout the general economy.

“That’s why when you look at the leaders in our industry, their share prices are lower today than they were 30 years ago, when the gold price was a 10th of what it is today,” Garofalo said.

Rising costs and chronic underfunding are causing a dual squeeze. No new projects are in the pipeline, and he doesn’t expect the situation to reverse any time soon. Instead, he sees sees major companies like Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont (TSX:NGT,NYSE:NEM) with stagnating reserves and stalled output.

They can grow their share count, but not the gold they have access to, they’re not creating share value.

Which gold stocks to focus on now?

Garofalo suggested that the right space to be in now is the development stage. He thinks the majors are approaching a point where they need to add assets to their portfolios to continue to grow.

“The industry has basically been giving money back to investors for the last dozen years in dividends and share buybacks and whatnot, and not meaningfully back into the grassroots exploration to replace depleting reserves,” he said.

Likewise, Giustra backed the idea that the gold sector needs more consolidation.

“There are far too many companies burning a lot of overhead. The industry needs to consolidate. We need to deliver performance. And so it’s partially the industry’s fault; for a long time, it hasn’t performed. You need to perform economically with your deposits to qualify as an investment sector,” he said.

Williams added that it’s important for investors to understand what they are looking for. He said that gold can be “a get rich quick scheme, a get rich slow scheme and a stay rich scheme,” depending on where you are in the cycle.

“That shouldn’t be your only focus. You shouldn’t only be thinking about, ‘Where can I find the 10 baggers?’ If that’s really your mindset, crypto is the perfect vehicle for that, because there’s a 10 bagger produced every minute if you’re lucky enough to get in and get out. This industry is tangible,’ Williams said.

‘It’s things you pull out of the ground that are valuable.’

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

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