With analysts expecting another strong earnings quarter from Newmont (NYSE:NEM) when it announces its June quarter results on 24 July, main street investors should start taking notice of gold stocks, Junior Miner Junky editor David Erfle told Kitco Mining’s Digging Deep.
“I see smart money coming into Newmont. … The Newmont share price is the big boy, the bellwether, the one that everybody looks at. … Since the end of February, they’ve been leading the gold stocks up,” said Erfle.
In anticipation of better days ahead, major mining houses such as Agnico Eagle Mines, Zijin Mining and Barrick Gold continue to take foothold positions in junior explorers and developers with both gold and copper projects.
“The world’s biggest mining companies are all seeking to expand in copper in anticipation of rising prices as demand for clean power and data centers are forecast to outstrip supply in the future,” said Erfle.
Recent days have seen Zijin Mining buy a 9.9% stake in African gold developer Montage Gold for C$57.3 million, South African mining firm Assore invest C$68 million for a 14.99% stake in Chilean copper developer Marimaca Copper, Agnico Eagle Mines invest another C$99 million to maintain its 9.9% stake in Canadian copper developer Foran Mining and take a 13.3% stake in Finland gold explorer First Nordic Metals, and market rumors of BHP and Lundin Mining potentially double-teaming to buy Filo.
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Digging Deep is sponsored by Revival Gold, one of the largest, pure gold, mine developers in the United States. The company is advancing engineering and economic studies on the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho.
Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”.
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00:00 Introduction and Welcome
00:27 Gold Price Hits Record High
02:07 Q2 Financial Results Expectations
02:35 Newmont’s Performance and Market Impact
06:20 Strategic Moves in the Mining Sector
08:18 Zijin Mining’s Gold Investments
12:58 Copper Market Developments
15:50 Rumors and Speculations in Copper Deals
20:04 Agnico Eagle’s Strategic Investments
22:12 Smaller Scale M&A in Gold
24:16 Quiz and Conclusion
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