Michael McClintock, P.Eng.’s Post

With gold reaching an all-time-high in May, roughly doubling since 2019, and the metal’s price expected to remain elevated as inflation slowly descends from its post-pandemic fervor, now is the perfect time to highlight the best-performing stocks in Canada’s gold industrial complex that offer the potential for outsized returns. Featuring: Pacific Empire Minerals Corp. Orogen Royalties Inc. | TSX.V:OGN NorthIsle Copper and Gold Inc American Eagle Gold Pegasus Resources Inc. Benton Resources Inc. Sanatana Resources Inc. PJX Resources Inc Troubadour Resources Bedford Metals Corp. #gold #goldstocks #juniorgoldstocks #juniormining #stockstowatch #stocksinfocus #microcap #goldmining #copper #copperstocks

As reported on The Pick Magazine website Argonaut has upgraded its outlook for gold, forecasting prices to hit US$3,000 per ounce by 2026, driven by factors like global inflation and geopolitical risks. This projection benefits several ASX-listed gold producers. Key companies mentioned in the report include Northern Star Resources Limited (NST), Genesis Minerals Limited (GMD), Westgold Resources Limited (WGX), Capricorn Metals Ltd (CMM), De Grey Mining Ltd (DEG), and international players like Perseus Mining Limited (PRU) and West African Resources (WAF). According to Argonaut these companies are well-positioned to capitalise on the anticipated gold price surge, with earnings growth and share price potential likely to follow. Argonaut's bullish outlook suggests that some of these companies may still offer strong upside, particularly in light of recently revised price targets. Investors watching the gold sector should keep an eye on these leading players as rising prices could significantly improve margins and shareholder returns. Read the full article here: https://lnkd.in/gjK7Dv3A #ASX #GoldMarket #NorthernStar #CapricornMetals #PerseusMining #Argonaut #GoldPriceSurge

Mining economics 101 - commodity prices fluctuate, something that needs to be taken into account during investment decisions. Whether exploration or M&A, companies need to think about price volatility. In the case of #criticalminerals, it is prudent to think about rising prices when targeting investment, where demand from the #energytransition moves the market. For #gold and other precious metals, it is prudent to think about fluctuating prices - today’s record highs for gold may not be there tomorrow. Barrick, Newmont Corporation and other gold majors say that they won’t spend spuriously. Seems prudent. Economics no doubt justify specific projects and targeted M&A in this context. Investing in artisanal mining formalization is also highly justified. Why? 🏹 land concessions are shared - there are opportunities for collaborative LSM-#asm productivity 🏹 artisanal miners are often early indicators for exploration- geological access can only help 🏹 formalization delivers increased productivity- value - along with social gains for miners & nearby communities 🏹 legal and reputational risks for large miners - Barrick’s North Mara mine in Tanzania is an example where consequences of conflict have landed in court 🏹 legal and reputational risk for end customers - neither luxury jewellers nor cell phone makers want the gold in their priduct to be associated with child or forced labor 🏹 legal and reputational risk for industry associations, market makers, refiners - inherently co-mingled gold that includes child and forced labor is not a good look for the LBMA or for the World Gold Council All investors look for prudent spending. The trick is to analyze commodity specifics and to identify opportunities that make sense. Artisanal mining formalization makes sense. The Blended Capital Group and our partners are committed to reimagining outcomes in artisanal mining. Formalization delivers enhanced dignity and productivity of work, a compelling combination for #mininginvestment and #impactinvestment. LSM engagement with ASM in delivering joint value is clear. Reach out, let’s discuss. Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian Innovest Advisory Investing for Good CIC #esg #sdgs #asgm #responsiblemining https://lnkd.in/gsUC4yYM

Is there such a thing as “Peak Gold”?  Global gold reserves have largely plateaued for 14 years, only increasing over and above what we have mined by 0.6% CAGR (since 1996).  Meaning, despite significant advances in metallurgical technologies, whereby we can extract bullion from multi-element mineral deposits at lower concentrations, improved recoveries, we are barely keeping pace with current extraction rates; let alone allowing for the growth in future demand. The reasons why global exploration efforts have been so disappointing are varied, but we believe there are three key determinants, namely: (i) The gold price from the early 1990’s into the mid 2000’s fell ~40% in real terms.  Unsurprisingly, exploration efforts in many places ceased, resulting in global reserves declining until gold prices started to climb again from Q306 onwards (hence the lag time for resource improvements first seen in 2009), thereby confirming the “Law of Supply”. (ii) It is getting increasingly harder to find new gold deposits (i.e. discovery depletion) and the remaining most prospective regions are still under the influence of significant geopolitical considerations.  What remains then, are typically of a poorer quality than current large operating gold mines. Replenishing its resource base was, in large part, why Newmont took over Newcrest Mining. (iii) Arguably, in the long-term, the exploitation of a non-renewable resource (i.e. gold) will result in physical mineral depletion. If that depletion continues unchecked (i.e. we are struggling to find enough gold to replace what we are mining) while other economic and technological conditions remain the same, resource scarcity and the cost of mineral production will increase, causing real bullion prices to rise. It is this last point, where we think increased economic scarcity will result in gold values continuing to outperform inflation (in real terms) well into the foreseeable future. #gold #discoverydepletion #goldreserves #newmont #lawofsupply #peakgold

Gold prices are hitting record highs, yet valuations for producers are lagging, presenting unique opportunities for investors. M&A activity is on the rise, with recent deals like Alamos Gold’s $443M acquisition of Argonaut Gold and Westgold Resources’ $820M buyout of Karora Resources—a sign that larger miners are actively expanding their portfolios. In this environment, Monument Mining Ltd (TSXV: MMY) has delivered standout performance. The company has achieved record revenue, turned positive on EPS, and shows a remarkable 72% increase in value since July. MMY's Selinsing mine, operational for over 14 years, still holds an estimated 700K oz of gold, positioning it for potential production longevity and continued profitability. What’s next? Our analysts see MMY as heavily undervalued, trading at just 1.2x forward EBITDA—a steep 81% discount to the sector. With FY2025 expected to bring record production and earnings, Monument's strategic move into historical resource confirmation at the Murchison project could enhance its growth trajectory. Explore the full report for in-depth insights into MMY’s financial metrics, operational highlights, and the broader industry trends shaping its future. 📝 https://lnkd.in/g6MYU_Gr Disclaimer: FRC provides issuer-paid coverage. Past performance is not indicative of future results. #GoldMining #MiningIndustry #MonumentMining #EquityAnalysis #InvestmentInsights #GoldStocks #MiningNews #MineralResources #TSXV #GoldMarket #NaturalResources #InvestorUpdates

**2015: The Year Alamos Gold Found Out That "Rock Bottom" Has a Basement** In 2015, Alamos Gold discovered that even in mining, you can dig too deep... financially, that is. Following a string of disastrous years in the gold market, it seemed 2015 decided to give the previous years a run for their money (or lack thereof). As Bob Moriarty wisely puts it, "At every market bottom, there are 100 reasons to sell. That's when you should buy!" For Alamos Gold, those reasons were more like 200. But hey, when the market leaves you with no more sellers and just a room full of optimists, things can only go up. Here's to a future where Alamos Gold doesn't just dig up gold but also some market wins! Congrats to all the teams since creation in 2000. #GoldMining #MarketTrends #AlamosGold #Investing #BobMoriarty #MiningIndustry #2015Challenges

Update from April 2024 Alamos Gold was first identified as promising investment in the precious metals space in early 2019 (First Target Met) and while it has moved up a lot, AGI.TO has de-risked itself and grown into a formidable mid cap producer. Below are some fundamental reasons Alamos Gold could be a valuable addition to an investment portfolio: 1. Strong Production and Expansion Projects Alamos Gold is known for its solid production base with multiple active gold mines. The company has demonstrated consistent operational efficiency and has several ongoing expansion projects that could increase its gold output. 2. Cost-Effective Mining Operations One of Alamos Gold’s key strengths is its ability to maintain low production costs, which can protect profitability even when gold prices are volatile. Low all-in sustaining costs (AISC) are particularly crucial in the gold mining industry, as they directly impact the bottom line. 3. Robust Financial Health Alamos Gold generally boasts a strong balance sheet with reasonable debt levels and adequate liquidity. This financial stability enables the company to invest in growth opportunities, fund its operations efficiently. 4. Strategic Acquisitions and Exploration Alamos Gold actively engages in strategic acquisitions and exploration activities aimed at expanding its resource base. 5. ESG Commitment The company has shown a commitment to sustainable mining practices, which is increasingly important to investors. 6. Dividend Payout Alamos Gold offers dividend payouts, which is somewhat of a rarity in the gold mining sector, while still a small yield, the dividend has a good chance of growing as their earning expand. 7. Geopolitical Stability of Operations The geographical locations of Alamos Gold’s operations are primarily in politically stable regions (e.g., Canada and Mexico), which reduces the risks associated with political instability that can affect mining operations in other regions 8. Gold as an Inflation Hedge With the potential for increased inflation, gold remains a popular hedge against rising prices. Investing in a gold mining company like Alamos Gold can be a strategic move to leverage this aspect, especially when gold prices are rising. 9. Market Sentiment and Gold Prices Finally, the overall market sentiment towards gold and the outlook for gold prices should be considered. In times of economic uncertainty, gold typically performs well as a safe-haven asset. Positive trends in the gold market can directly benefit gold mining companies Conclusion Investing in Alamos Gold could offer a combination of growth potential, earnings stability, and a defensive hedge against economic volatility. All investments, it carry risks, and investors should consider their own financial situation and perform their own due diligence. #gold #copper #exploration #law #jobs #educate #motivate #educateyourself #motivation #geologist #geology Florian (aka Florzinho) Grummes Thomas Parilla Sary Schultz

Metals and Miners had the honor to sit down with Thomas Parilla (Parilla Investment Group), Roger Rosmus (Goliath Resources) and Dan Stuart (Juggernaut Exploration) and discuss the state of the gold market. (~44 mins) TITLE: PARILLA, ROSMUS, STUART | Buy dip in gold, Golden Triangle, Big Gold Bull Run, Gold equities undervalued! (recorded 6/26/2024) In this interview, Thomas, Roger and Dan do a deep dive on the following: - Where the gold price is going over the next 1-2 years? - Why investors should buy every dip in gold? - What edge having an investment banking background gives them as they run these gold mining organizations? - What makes the golden triangle in Canada so fantastic from a geologic and investment perspective? - What non price trends or developments in the gold mining industry we should be paying attention to? - What is happening to global financial system and what role will gold play moving forward? - Will this cycle be heavy in mergers and acquisitions? - Will this cycle end in a speculative blow off? - If the cycle is currently at the point where institutional investors begin to enter? - What are the impacts and consequences of the CAPX shortfall from the last decade? - If investors will be altering their playbook and rotating out of financialized assets and into hard assets like gold over the next few years? - What the greatest derailment risk is to this next gold bull run? - If gold equities are undervalued or fairly valued currently and why?

MIND THE GAP #2: A generational trade Excited to share the strong performance update of The "Omen Recherchebay Precious Metals & Responsible Mining" strategy [Bloomberg Ticker BCKT0685 Index]. Since its launch on April 30th, 2024, the strategy has surged over 34% in Eur terms, outperforming the VanEck Gold Miners ETF [ GDX US in EUr terms] by 8%. Leveraging expertise in metals/ISR fundamentals, geologists, C-suite figures, and global markets, we are riding the early wave of a major bull market in Metals and Mining. The key to our success lies in selecting mid-tier producer companies with robust ESG ratings, conducting thorough jurisdiction evaluations, and monitoring management's production track record. O&R Metals strategy anticipates M&A opportunities for outperformance, emphasizing real returns in a sector with mindblowing risk/reward potential. Why choose O&R Metals over Mining ETFs? - Potential for better rerating in precious metals prices breakout - Superior balance sheet quality in mid-tier miners despite sector challenges OMEN PARTNERS and Recherchebay have meticulously researched this trade. Join me in London, Zurich, and Hong Kong in November for discussions on this generational opportunity with investors keen on maximizing returns in the Metals and Mining sector. Guillaume Derville Laurent Maurel Alain Dublin Pierre Martin #Inflation #Stagflation #CapitalRotation #Gold #Silver #PeciousMetals #Mining #AssetAllocation #HedgeFund #WealthManagement #Familyoffice

Alamos Gold was first identified as promising investment in the precious metals space in early 2019 (First Target Met) and while it has moved up a lot, AGI.TO has de-risked itself and grown into a formidable mid cap producer. Below are some fundamental reasons Alamos Gold could be a valuable addition to an investment portfolio: 1. Strong Production and Expansion Projects Alamos Gold is known for its solid production base with multiple active gold mines. The company has demonstrated consistent operational efficiency and has several ongoing expansion projects that could increase its gold output. 2. Cost-Effective Mining Operations One of Alamos Gold’s key strengths is its ability to maintain low production costs, which can protect profitability even when gold prices are volatile. Low all-in sustaining costs (AISC) are particularly crucial in the gold mining industry, as they directly impact the bottom line. 3. Robust Financial Health Alamos Gold generally boasts a strong balance sheet with reasonable debt levels and adequate liquidity. This financial stability enables the company to invest in growth opportunities, fund its operations efficiently. 4. Strategic Acquisitions and Exploration Alamos Gold actively engages in strategic acquisitions and exploration activities aimed at expanding its resource base. 5. ESG Commitment The company has shown a commitment to sustainable mining practices, which is increasingly important to investors. 6. Dividend Payout Alamos Gold offers dividend payouts, which is somewhat of a rarity in the gold mining sector, while still a small yield, the dividend has a good chance of growing as their earning expand. 7. Geopolitical Stability of Operations The geographical locations of Alamos Gold’s operations are primarily in politically stable regions (e.g., Canada and Mexico), which reduces the risks associated with political instability that can affect mining operations in other regions 8. Gold as an Inflation Hedge With the potential for increased inflation, gold remains a popular hedge against rising prices. Investing in a gold mining company like Alamos Gold can be a strategic move to leverage this aspect, especially when gold prices are rising. 9. Market Sentiment and Gold Prices Finally, the overall market sentiment towards gold and the outlook for gold prices should be considered. In times of economic uncertainty, gold typically performs well as a safe-haven asset. Positive trends in the gold market can directly benefit gold mining companies Conclusion Investing in Alamos Gold could offer a combination of growth potential, earnings stability, and a defensive hedge against economic volatility. All investments, it carry risks, and investors should consider their own financial situation and perform their own due diligence. #gold #copper #exploration #law #jobs #educate #motivate #educateyourself #motivation #geologist #geology Florian (aka Florzinho) Grummes Thomas Parilla Sary Schultz Greg Shafransky Pete Thomas