It took a bit of time, but hybrid prospect generator Avrupa Minerals (TSXV:AVU)(OTC:AVPMF) and JV partner Sandfire Miniera Portugal (subsidiary of Sandfire MATSA) intercepted a substantial mineralized interval at Sesmarias, Portugal again, after the impressive high grade result from June last year: 26.95m @ 2.18% Cu, 2.58% Pb, 5,6%Zn and 88.2g/t Ag.
With inflation finally going down to the point the Federal Reserve almost certainly intends to announce the first rate cut in September, and the gold price reacting favorably as it hovers around the US$2,400 levels since April, Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) profited from slowly increasing gold junior sentiment, and managed to raise C$2.575M in a non-brokered LIFE offering.
After a period of markets awaiting more definitive signals from the macro-economic side of things, we finally witnessed inflation coming down more than expected, and downward revisions of job reports and a significant increase in unemployment figures. This leads to a probability of over 90% for a September rate cut, which will likely be a positive for not only the markets but also metals, as the US Dollar usually goes down.
When PTX Metals (PTX:CSE)(9PX:FRA) set out to raise C$750k for exploration at their flagship W2 Cu-Ni-PGE project in Ontario, it was good to see the flow-through financing closed oversubscribed, to the amount of C$860k, with some last minute entrants coming in.
Summary
As mixed macro-economic numbers continue to confuse the Federal Reserve, there seems to be growing consensus that the first rate cut might be in the cards for September, and the European counterpart is planning to cut rates even earlier. This could be a positive for metal prices and economic activity, although in my view it could drive up inflation again.
Summary
An old proverb in mining is to look for deposits in the shadow of a headframe, implying potential mineralization on strike with a deposit of an existing or historic mining operation.
Ice drilling at Regnault target, Frotet project, Quebec
With conflicts around the world not exactly working towards a solution, with Taiwan potentially entering the mix since China wasn’t too happy with the speech of the Taiwanese president, gold remains strong above US$2,300/oz despite rumors swirling around of a first rate cut in September this year.
With the gold price holding strong above US$2,300/oz levels, perhaps due to the Russia and Israel conflicts aggravating while inflation increases again - thus delaying timing of upcoming rate cuts by the Fed – Westward Gold Inc. (WG.CSE) is progressing on the exploration front and recently announced positive sampling results for Toiyabe and East Saddle, after raising an oversubscribed and non-brokered sum of C$1.66M last month.
In a time where the world seems to get increasingly used to the Russia and Israel conflicts, China antics on trade and Taiwan, and a Federal Reserve preparing for rate cuts beginning in June, the gold price has broken out pretty violently, and printed a new high over US$2,400/oz, and maintains these lofty levels so far.