Gold is making headlines as it surges and makes new all-time highs, with investment banks like Goldman Sachs predicting prices could hit $2,700 per ounce in early 2025 and the current trajectory suggesting it will happen much sooner. This rise is driven by Global economic uncertainty, inflation concerns, and geopolitical tensions, pushing investors towards the precious metal as a safe haven.
Meanwhile, Copper surpassed $10,000 per tonne on China Stimulus measures and The US Federal Reserve making its first 50 basis point rate cut last week. These two moves combined with Copper supply shortages looming should make for an exciting next period for Copper explorers and developers with many investment banks and famed investors believing the red metal is headed higher.
As Copper and Gold prices both climb, certain publicly traded companies in the mineral exploration and development sector stand to benefit significantly. Higher Copper and Gold prices boost profit margins for miners, increasing their value to investors and their ability to make major acquisitions of established Gold and/or Copper deposits around the Globe. With an underlying theme of Global tension, producers and developers are placing a much higher priority on acquiring and developing resources in domestic jurisdictions. Established industry leaders, along with smaller, high-growth companies, are uniquely positioned to capitalize on this surge. Companies such as Gold Fields Inc. (NYSE:GFI), Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: GOLD), IAMGOLD Corporation (NYSE: IAG), Freeport McMoRan (NYSE:FCX), BHP Group Ltd. (NYSE:BHP) Osisko Mines Inc. (TSX:OSK) Hercules Metals Corp (TSXV:BIG) and Giant Mining Corp. (CSE:BFG) (OTC:BFGFF)
Giant Mining (CSE:BFG) (OTC:BFGFF) today provided an update on the Friday Gold Project, a Central Idaho based 1.237 Million Ounce Gold deposit (Indicated and Inferred – NI 43-101 Historical). Giant outlines certain encouraging drill intercepts that were encountered at the project after the 1.237 Million Ounce Gold Mineral Resource Estimate was published in 2013 by Premium Exploration Inc. Exceptional Results of numerous unincorporated drill holes were highlighted in Giant’s press release. One of the highest and greatest of them being:
Premium Reports 5.23 G/T over 370 Feet (112.8 Meters) at the Friday Deposit, Idaho including 32.22 G/T over 6.6 Meters
Giant has been actively updating the market this week having hit one of its highest-grade Copper-Silver drill intercepts at its Majuba Copper-Silver-Gold Project in Nevada.
Giant Mining (CSE:BFG) (OTCPK: BFGFF) announced on Tuesday, September 24th, 2024, that it had drilled into 218 feet of high-grade Copper-Silver mineralization from surface at the Majuba Hill Copper-Silver-Gold Deposit, formerly explored by Freeport-McMoRan (NYSE:FCX) (previously Freeport Sulfur) now under Giant Mining’s control.
“Giant Mining Intersects Surface High Grade at Majuba with 74.0 feet of 2.6% Cu and 30.1 g/t Ag within 218.0 feet of 1.35% Cu and 73.4 g/t Ag”
David Greenway, CEO of Giant Mining, recently stated, , “We couldn’t be more excited that Gold is trading at an all-time near $2,700 per ounce. We are eager to provide an updated overview of Giant’s 20% shareholding in the Friday Gold Project—a value we believe the market has yet to fully reflect in our company’s market cap. With 1.237 million ounces of Gold indicated and inferred, and the potential for further expansion by incorporating 14 already drilled holes with outstanding results, the project remains open in all directions, with several new targets. We believe the time is right to update the NI 43-101 and unlock the full potential of the Friday Gold Deposit for all stakeholders.”
Giant Mining (CSE:BFG) (OTCPK: BFGFF) is still awaiting results from additional drilling at their Copper-Silver Project and on September 12th, 2024 announced a planned 16-hole RC drill program. Giant is positioned to capitalize on this current rally in commodities with its Gold and its Copper-Silver project. The company continues to show its commitment to further development at the Majuba project that previously produced high-grade Copper, Silver and tin, along with Gold and zinc from historic underground workings. The project is accessible year-round by major highway with extensive infrastructure already in place and over 83,925 feet of exploration and development drilling to date. Giant Mining controls 15.1 square miles (39.2 sq km) or 9,678 acres (3,917 ha) at Majuba Hill.
Global Mining M&A has ramped up over recent months, as healthy cash flows and the outlook for key green energy metals encourage the rapid addition of extra production. BHP Group Ltd. has been among the most active, swooping on Filo Corp. after the World’s biggest miner’s $49 billion bid for Anglo American Plc did not close. More recently Gold Fields Inc. (NYSE:GFI) announced the acquisition of Osisko Mining Inc. (TSK:OSK) for CAD $2.16 Billion and prior to that Kinross announced the completed acquisition of Great Bear for CAD $1.8 Billion. Barrick (NYSE:GOLD) also has been jockeying for position recently after their offer on First Quantum at market (then approximately $17 Billion) and offer on Newmont for $18 Billion were rebuffed, the company recently made a strategic investment in Hercules Metals Corp. (TSXV:BIG) of $23.39 Million.
Companies like Giant Mining Corp. (CSE:BFG) (OTC:BFGFF), Hercules Silver Inc. (TSXV:BIG) and Osisko Mines Inc. (NYSE:OSK) who are exploring and developing high value deposits in key mining jurisdictions may make sense for strategic investments and strategic acquisitions by producers and developers like Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: GOLD), IAMGOLD Corporation (NYSE: IAG) Freeport McMoRan (NYSE:FCX), BHP Group Ltd. (NYSE:BHP) and many others looking to add ounces of Gold and pounds of Copper to their production pipeline and balance sheet.
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