October 2024 - MiningNewsWire

MondayOct 14, 2024 10:00 am

In Addition to Gold, Costco Starts Selling Platinum Bars

Costco began selling 1-ounce gold bars late last year. While this was restricted to members of Costco, analysts at Wells Fargo estimate that the popular retailer sells between $100 million to $200 million in gold bars monthly. Now members of Costco can also purchase one-ounce bars of platinum at $1089.99. Platinum’s value has risen by 15% since last year, with its demand growing significantly. The silvery-white metal is resistant to corrosion, just like gold. It has many different uses, among them its use in catalytic converters for trucks, cars, and buses. This use makes up 50% of its annual demand.…

FridayOct 11, 2024 11:15 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Dedicated to Exploration of Copper as ‘Commodity for the Future’

Copper is projected to become even more important as the transition away from fossil fuels and toward renewable energy gains steam. Benefits of investing in copper include price appreciation, portfolio diversification and inflation hedging. Aston Bay is focused on exploring for high-grade critical and precious metal deposits in both Canada and the United States. Precious metals have long been investments worth considering, and as renewable energy becomes increasingly important in today’s world, metals connected to that sector will become more essential as well. Aston Bay Holdings (TSX.V: BAY) (OTCQB: ATBDF), a publicly traded mineral exploration company exploring for high-grade critical and…

FridayOct 11, 2024 10:30 am

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) CEO, Production Featured in Recent Episode of Mining Podcast

Company CEO is a geologist with more than four decades of experience and a PhD in petroleum geology. Trillion Energy has the SASB Gas Field in the Black Sea and an oil field on shore. Currently the company is producing an estimated 6–6.5 million cubic feet per day with projections of reaching an estimated 12–15 million cubic feet of production. Having an experienced professional run a company is essential for many reasons, and those reasons become even more profound in companies where public safety and welfare is at risk, such as an oil and gas exploration company. The benefits of exceptional leadership,…

FridayOct 11, 2024 10:00 am

IXM Reveals EV Demand for Copper Still Intact Despite Sales Slump

Despite the gradual decline in sales of electric vehicles, the growing demand for metals such as copper remains intact. EV sales have slowed for various reasons, including concerns about the resale values of the vehicles and a lack of charging infrastructure. IXM’s head of refined metal, Tom Mackay, states that the evolving market makes it harder to estimate numbers though. He explains that there are plenty of variables in the nascent electric vehicle industry, including battery chemistries and rates of penetration, which make predicting demand a game of guessing. He adds that while growth in EV sales has reduced, sales…

FridayOct 11, 2024 9:00 am

Renforth Resources Inc. (CSE: RFR) (OTCQB: RFHRF) Making Strong Statement in Multicommodity Mineral Space

Diversification can be an effective way to manage risk, maximize returns. Multicommodity properties provide an array of benefits that make them attractive to both individual and institutional investors. Canadian-based Renforth Resources offers a diverse portfolio of properties containing valuable commodities such as gold, copper and nickel. In today’s volatile economic landscape, diversification is a key principle in managing risk and maximizing returns. This can be especially true in the mining and natural resources sector, where fluctuations in commodity prices can significantly impact the profitability of mining projects. One effective way for investors to mitigate these risks and capture upside potential…

ThursdayOct 10, 2024 9:45 am

How AI is Transforming Mineral Discovery and Driving Efficiency

AI Transforms Mining: AI speeds up mineral discovery by analyzing large datasets, predicting drill targets, and improving operational efficiency. A McKinsey report estimates that AI could unlock $290 billion to $390 billion in annual savings for producers of key resources by 2035. Emperor Metals' Advantage: At Duquesne West, Emperor Metals used AI and DomainMCF to develop a 3D geological model, accelerating discovery and unlocking new high-priority exploration targets. As the global mining industry faces mounting pressures to boost productivity, reduce costs and minimize its environmental impact, artificial intelligence (“AI”) is emerging as a necessary evolution. A 2022 McKinsey report estimates…

WednesdayOct 09, 2024 11:15 am

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Releases Updated Report on Storm Copper Project Drilling Program

“The first deep drill hole of the year adds another success to the 2024 exploration program at Storm,” said Aston Bay CEO. So far this year, the drilling program has completed a total of 128 RC drill holes and 14 diamond drill holes at Storm and Tempest, exceeding the planned target. Data obtained from these drill holes will be “fed back into the model,” providing additional refinement to targeting for even better copper intercepts at depth. Accelerated drilling at the Storm Copper Project has discovered Cyclone-style copper mineralization at depth and confirmed the prospectivity of the Central Graben area, reported Aston…

WednesdayOct 09, 2024 10:30 am

Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) Is ‘One to Watch’

In September 2024, Foremost announced an option agreement with Denison Mines for 10 uranium projects in Saskatchewan’s Athabasca Basin. The company has aggressive exploration plans across its 330,000-acre uranium portfolio, with both shallow and deep targets. The Athabasca Basin is known for hosting some of the richest uranium deposits in the world, with strong infrastructure supporting exploration. Foremost’s partnerships with Denison Mines and local geological firms, along with its strong management team, position it well for future success. The company also holds a secondary portfolio of lithium projects, covering over 50,000 acres, providing additional long-term growth potential. Foremost Clean Energy…

WednesdayOct 09, 2024 10:00 am

Gold Stutters as Strong US Jobs Data Dampens Expectations of Large Rate Cuts

The price of gold dipped last week following strong data on jobs in the United States, which showed that nonfarm payrolls rose by more than 250,000 jobs in September. The report reduced expectations of an aggressive reduction in rates from the Fed, boosting the greenback. Figures show that traders reduced expectations for a rate cut from 28% to almost 0% once the payrolls data was released. Spot gold slipped to $2,649.69 an ounce, a 0.2% decrease. This is after its record high of $2,685.42 an ounce. U.S. gold futures also dropped by 0.4% to reach $2,667.80 an ounce. The report…

MondayOct 07, 2024 10:30 am

Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) Reports SASB Gas Field Well Now in Production

Bringing a well into production involves several critical steps, including drilling, completion and the establishment of infrastructure to extract and transport the gas. Recently Trillion Energy announced that its Akcakoca-3 well at the SASB Gas Field has been put into production. Company reports that all wells but one have been put on production or flow tested to determine if gas is present and capable of production. Natural gas has emerged as a crucial component of the global energy landscape, serving as a cleaner alternative to coal and oil. For a natural gas company, such as Trillion Energy International (CSE: TCF)…

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Month: October 2024