Digging Deep
Join a discussion with the brightest minds in the resource investing sector and learn how to navigate the complex world of mining investment. Kitco Mining's Digging Deep, hosted by Paul Harris, is your weekly appointment to understand the key trends in the resource investment space. Paul sits with experts to dissect investment trends and understand the dynamic landscape shaping the future of natural resource extraction. Digging Deep is your guide to understanding resource investment and how to profit from it.
Digging Deep
Smart money coming into Newmont: Erfle
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.
Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.
