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

• Very experienced team (exploration and mine building), Technical Advisor and significant shareholder Peter Megaw
• Underexplored 1,420ha greenfield Hot Breccia project in Arizona, adjacent to former Christmas Mine and nearby the colossal Resolution deposit
• Prismo Metals management believes Hot Breccia could represent the same geological concept as the Resolution deposit at depth, combined with evidence pointing towards mineralization directly on the other side of an intrusion, separating Hot Breccia from the Christmas deposit
• This evidence encompasses information about sampling, mapping, stratigraphy and mineralization at depth

• Known historic intercepts include 26m @ 0.54%Cu, 20m @ 1.4%Cu, 8m @ 1.73% Cu plus 5m @ 1.4% Cu, but most data on grades from historic drilling are missing.

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

• A high-grade gold exploration project led by Chairman & CEO Gerald Panneton of Detour fame
• 14 Moz Au produced @ 16-22 g/t Au in Yellowknife over 5km of Campbell Shear structure, Gold Terra controls remaining 70km
• Underexplored 918km2 brownfield project with infrastructure including 1,900m deep shaft all in place

• Existing near surface 1.78Moz Au resources, historic deep 650koz Au resource
• Historic intercepts of unmined zones assayed 19.3m @ 534g/t Au, 12.4m @ 22.5g/t Au and 6.89m @ 79.3g/t Au
• Deep multi-million ounce potential at Campbell Shear, directional drill program currently underway
• After raising C$2.5M in April (Eric Sprott, Rob McEwen), cash position is C$3.5M
• Gold trading at all-time highs, recently surpassing US$2,400/oz again

1. Introduction

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.

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.

As the Israel-Hamas conflict quickly escalating with Iran’s involvement at the moment, and Russia chipping away diligently at Ukraine’s defences due to outnumbering men and weapons, precious metals are doing very well at the moment. Silver North Resources (SNAG.V), focused on silver, profits from this as the share price doubled from the recent bottom levels, and managed to raise another C$650k to pay the bills and prepare for drill programs at their fully owned flagship Haldane silver project.

As the stockmarkets in the US are printing all-time highs again, not really urging the Federal Reserve to lower rates anytime soon it seems as inflation remains well above target, Kenorland Minerals (KLD.V)(3WQO.FSE) announced the final drill results for Regnault, part of their flagship Frotet Project in Quebec.