Pipes Feed Preview: MasterMetals & MasterMetals Tweets

1. Trump & Metals

   Wed, 16 Apr 2025 01:48:00 -0000

   <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgasRjAP5UYjg1CQ42mEZtHiZFmjhiS36Td85eRIkNCIZYHMfaOcmLQrMShGRWxuZi-Zeo-Y5o0Esr_UduLt1EOTFim3RozVqmT4DNsAOMPzmoZqp7DDqote7n3ZxhvtfRuFy03p86-aoGrej-Lz_WtTudvc0lSOpyGTrUDwpzwdSPMPH0EkizgkpFwEl0/s2230/Screen%20Shot%202025-04-16%20at%2003.32.56.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="756" data-original-width="2230" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgasRjAP5UYjg1CQ42mEZtHiZFmjhiS36Td85eRIkNCIZYHMfaOcmLQrMShGRWxuZi-Zeo-Y5o0Esr_UduLt1EOTFim3RozVqmT4DNsAOMPzmoZqp7DDqote7n3ZxhvtfRuFy03p86-aoGrej-Lz_WtTudvc0lSOpyGTrUDwpzwdSPMPH0EkizgkpFwEl0/w640-h216/Screen%20Shot%202025-04-16%20at%2003.32.56.png" width="640"></a></div><br><div style="text-align: justify;">It’s been three weeks since President Trump announced his <i>Immediate Measures to Increase American Mineral Production </i></div><div><blockquote class="twitter-tweet"><p dir="ltr" lang="en"></p><div style="text-align: justify;">Trump’s Immediate Measures to Increase American Mineral Production</div><br>Within a month we should supposedly get a list of priority projects “that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions within the… <a href="https://t.co/sY4JxkzQKo">https://t.co/sY4JxkzQKo</a><p></p>— MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/1902931405639651529?ref_src=twsrc%5Etfw">March 21, 2025</a></blockquote><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script><p></p><div></div></div><div><div style="text-align: justify;">Today he issued an <b><a href="https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-ensures-national-security-and-economic-resilience-through-section-232-actions-on-processed-critical-minerals-and-derivative-products" target="_blank">Executive Order</a> dealing specifically with Critical Metals</b>.<span></span></div></div><a href="https://mastermetalsblog.blogspot.com/2025/04/trump-metals.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

2. $BHP - Q3 2025 Activities Report

   Thu, 17 Apr 2025 16:10:00 -0000

   <div dir="ltr"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-jW9E-MQykOA4B9OKV64wnmqfranLQ4J3ZxCFERMfBJxOa4Ip7UnWuaip8tM6B6Tr6GhAcieyE7K9hYeIS8oMSolnbm0iRUqQlMChL5bl5du1yaoryCcSh8T7p8jp-XhTSq4NI7rEAWi7m_EC3vnXoyIiz-g1c1ywcCWHgr3wIqyQPVax1zBNDLE3SZP7/s1560/Escondida%20(kt).heic" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1560" data-original-width="1174" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-jW9E-MQykOA4B9OKV64wnmqfranLQ4J3ZxCFERMfBJxOa4Ip7UnWuaip8tM6B6Tr6GhAcieyE7K9hYeIS8oMSolnbm0iRUqQlMChL5bl5du1yaoryCcSh8T7p8jp-XhTSq4NI7rEAWi7m_EC3vnXoyIiz-g1c1ywcCWHgr3wIqyQPVax1zBNDLE3SZP7/w482-h640/Escondida%20(kt).heic" width="482"></a></div></div> <div><br></div> <div><b>Copper</b> production:<b> 1.5MM T, +10%, <i>Escondida +20%</i></b></div> <div><b>Iron Ore</b> production <b>unchanged </b></div> <div><br></div> <div>It&#39;s been a rough year for BHP, like all base metal miners, let&#39;s see if fortunes change…</div> <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnztpIdmUDX88GpJ5TE_02sg6vNWuczqNe8N0_vc23xaeQ0DgrIemtJB5sf5wll_m1C6zgF-QksIpRQQRq_4zLGjeTDURSPaWiOQMtakPkYAKeU3_KIRJDuiMTRyxb_LXy89RBIgNBUI4PxVlZulc22t-ehf9LB03V_1JE9e6XzW-NkGctTpLfxYukdMSN/s2772/Image.heic" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1890" data-original-width="2772" height="436" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnztpIdmUDX88GpJ5TE_02sg6vNWuczqNe8N0_vc23xaeQ0DgrIemtJB5sf5wll_m1C6zgF-QksIpRQQRq_4zLGjeTDURSPaWiOQMtakPkYAKeU3_KIRJDuiMTRyxb_LXy89RBIgNBUI4PxVlZulc22t-ehf9LB03V_1JE9e6XzW-NkGctTpLfxYukdMSN/w640-h436/Image.heic" width="640"></a></div><br><div><div>CEO expects &quot;<i>limited direct impact of tariffs</i>&quot; but <span></span></div></div></div><a href="https://mastermetalsblog.blogspot.com/2025/04/bhp-q3-2025-activities-report.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

3. Golden Start of the Year

   Thu, 01 May 2025 02:21:00 -0000

   <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2aevUHfDqszjJ9QyIQP22zDrTzZEEcPSYvRakmvNmJkUgPFVB0BNztCtMJLEx9Yy0J-h9QTdDQuorx0J1mERCFJlVV1SkrN76lCO-VmypO8pQvRfe2VM_5rXWw5DFFGNootkqlRZkfiI2Yco4VSEiJ9cBSm5WQq3JokvTHK8ZerehBvyLZ9ZCNSrcHaHd/s2177/Gold%20YTD%202025.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="GOLD YTD 2025" border="0" data-original-height="1863" data-original-width="2177" height="548" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2aevUHfDqszjJ9QyIQP22zDrTzZEEcPSYvRakmvNmJkUgPFVB0BNztCtMJLEx9Yy0J-h9QTdDQuorx0J1mERCFJlVV1SkrN76lCO-VmypO8pQvRfe2VM_5rXWw5DFFGNootkqlRZkfiI2Yco4VSEiJ9cBSm5WQq3JokvTHK8ZerehBvyLZ9ZCNSrcHaHd/w640-h548/Gold%20YTD%202025.jpg" title="GOLD YTD 2025" width="640" /></a></div><br />It’s been Gold’s year! 28 New All-Time Highs so far this year!<div><br /><div><div>YTD it’s Up $675.80 or 25.70%.</div><div><br /></div><div><div>Front Month Comex Gold for May delivery finished at $3305/oz., a gain of $182.20, or 5.83% this month.</div><div>After hitting its All-Time High of $3500/oz. on April 22nd, it’s only down 2.97%.</div><div><br /></div><div><i>Up 43.76% from its 52-week low </i>of $2299.00 hit Friday, May 3, 2024.</div><div><br /></div><div>Will it be Sell in May and Go Away? Let’s see what May has in store for Gold— a little consolidation would do it some good before charging ahead again…</div> <br /> <p> </p> <div> </div> ____________________________________________________ <p><a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a></p> <p><a href="https://twitter.com/MasterMetals">@MasterMetals</a></p> <div> </div><!--ShareThis BEGIN--><div class="sharethis-inline-reaction-buttons"></div><!--ShareThis END--> <!--ShareThis BEGIN--><div class="sharethis-inline-share-buttons"></div><!--ShareThis END--></div></div></div><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

4. What ASX African Explorers Look Interesting?

   Tue, 13 May 2025 01:29:00 -0000

   <p class="p1" style="-webkit-text-size-adjust: auto; font-family: UICTFontTextStyleTallBody; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px;"><span class="s1" style="font-family: UICTFontTextStyleBody;">After Montage Gold’s $MAU.TO latest Aussie-listed African investments, what Other ASX African explorers look interesting?<span></span></span></p><a href="https://mastermetalsblog.blogspot.com/2025/05/what-asx-african-explorers-look_12.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

5. Platinum: Another year, another deficit—but when will the price move?! WPIC Q1 ‘25

   Mon, 19 May 2025 23:31:00 -0000

   <p class="BlogTitle" style="font-family: Helvetica; font-size: 20pt; font-weight: bold; letter-spacing: -0.5pt; margin: 0cm;"></p><p class="MsoNormal" style="font-family: Georgia, serif; font-size: 10.5pt; line-height: 21px; margin: 0cm;"><span lang="EN-US" style="font-family: Helvetica;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwSfyo2DNgi2pUgvGCpSGBMOqQaEv04DFtrs2xHIR-ZccsuVE3nmpn82IIJ2cR0OYWoo7qsK-wnWld75_SD4v6ozSkW7ufeYanW16R0Vp1prpjrx3iIoTrEDwxfw9gqJAsuhh1i0P-vzeFcP2u2d3q116If7aop877xs8v4WunQINh6jvYjzZPHJLQr41i/s1418/Screen%20Shot%202025-05-19%20at%2021.44.35.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="570" data-original-width="1418" height="258" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwSfyo2DNgi2pUgvGCpSGBMOqQaEv04DFtrs2xHIR-ZccsuVE3nmpn82IIJ2cR0OYWoo7qsK-wnWld75_SD4v6ozSkW7ufeYanW16R0Vp1prpjrx3iIoTrEDwxfw9gqJAsuhh1i0P-vzeFcP2u2d3q116If7aop877xs8v4WunQINh6jvYjzZPHJLQr41i/w640-h258/Screen%20Shot%202025-05-19%20at%2021.44.35.png" width="640"></a></div><div class="separator" style="clear: both; text-align: center;"><br></div><p class="bloghead" style="font-family: Helvetica; font-weight: bold; line-height: 24px; margin: 0cm 0cm 0cm 72pt;"><span lang="EN-US">Q1 2025 Snapshot<o:p></o:p></span></p><p class="blogbullet" style="font-weight: bold; line-height: 22px; margin: 0cm 0cm 0cm 98.95pt; text-align: justify; text-indent: -17.85pt;"><span style="font-family: helvetica; font-size: x-small;"><span lang="EN-US" style="font-weight: normal;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-emoji: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">       </span></span><span lang="EN-US">Q1 2025 Supply: </span><span lang="EN-US" style="font-weight: normal;">1,458 koz (<i>down 10% year-on-year</i>)</span><span lang="EN-US"><o:p></o:p></span></span></p><p class="blogbullet" style="font-weight: bold; line-height: 22px; margin: 0cm 0cm 0cm 98.95pt; text-align: justify; text-indent: -17.85pt;"><span style="font-family: helvetica; font-size: x-small;"><span lang="EN-US" style="font-weight: normal;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-emoji: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">       </span></span><span lang="EN-US">Q1 2025 Demand: </span><span lang="EN-US" style="font-weight: normal;">2,274 koz (<i>up 10% year-on-year</i>)<o:p></o:p></span></span></p><p class="blogbullet" style="font-weight: bold; line-height: 22px; margin: 0cm 0cm 0cm 98.95pt; text-align: justify; text-indent: -17.85pt;"><span style="font-family: helvetica; font-size: x-small;"><span lang="EN-US" style="font-weight: normal;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-stretch: normal; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-emoji: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; line-height: normal;">       </span></span><span lang="EN-US">Q1 2025 Deficit: </span><span lang="EN-US" style="font-weight: normal;">816 koz (<i>largest quarterly deficit in six years</i>)<a href="#fn1" style="color: #467886;"><span color="windowtext" style="text-decoration-line: none;">[^{<span style="color: #4e95d9;">1</span>}]</span></a></span></span><span lang="EN-US" style="font-family: Helvetica; font-size: 11pt;"><o:p></o:p></span></p><p class="MsoNormal" style="font-family: Georgia, serif; font-size: 10.5pt; line-height: 21px; margin: 0cm 0cm 0cm 36pt;"><span lang="EN-US" style="font-family: Helvetica;"> </span></p><p class="bloghead" style="font-family: Helvetica; font-weight: bold; line-height: 24px; margin: 0cm;"><span lang="EN-US">Platinum Market Deficit Deepens in 2025<o:p></o:p></span></p><p class="blogbody" style="font-family: Helvetica; font-size: 11pt; line-height: 22px; margin: 0cm 0cm 6pt; text-align: justify;"><span lang="EN-US">The platinum market is heading for its <b>third straight annual deficit in 2025</b>, with the World Platinum Investment Council (<b>WPIC</b>) <a href="https://platinuminvestment.com/files/873451/WPIC_Platinum_Quarterly_Q1_2025.pdf" style="color: #467886;">forecasting</a> a <b>shortfall of 966,000 ounces (koz), </b>or <i>12% of total demand</i>. This deepening deficit is driven by both falling supply and resilient demand, despite global economic and trade uncertainties<a href="#fn1" style="color: #467886;">^{<span color="windowtext">[1]</span>}</a>.</span></p><div><br></div><b><div style="text-align: center;"><b><span style="font-family: helvetica;">Platinum Supply, Demand, and Balance: Q1 2024 vs Q1 2025</span></b></div></b><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwDswC9Eoa9X3fNtzjO_A8a1RC2w1fPV-EjHyihpKejGZe1mdYQb_dMwcGw9QJuLIWuqug5Fr-AfQETRZGSfPjcpjlN9JRkAv7UnBizIDlGae_9obS6mbTFRUvO67q2hwk66-vFRBLvP6bsGPrVf252W03gr21V0fsnW6Bzb_vETcfg3pc0I-D71BO4fSx/s2370/Platinum%20Supply%20Demand-%20Q1%202024%20vs%20Q1%202025.png" style="margin-left: 1em; margin-right: 1em;"><img alt="Platinum Supply, Demand, and Balance: Q1 2024 vs Q1 2025" border="0" data-original-height="1470" data-original-width="2370" height="396" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwDswC9Eoa9X3fNtzjO_A8a1RC2w1fPV-EjHyihpKejGZe1mdYQb_dMwcGw9QJuLIWuqug5Fr-AfQETRZGSfPjcpjlN9JRkAv7UnBizIDlGae_9obS6mbTFRUvO67q2hwk66-vFRBLvP6bsGPrVf252W03gr21V0fsnW6Bzb_vETcfg3pc0I-D71BO4fSx/w640-h396/Platinum%20Supply%20Demand-%20Q1%202024%20vs%20Q1%202025.png" title="Platinum Supply, Demand, and Balance: Q1 2024 vs Q1 2025" width="640"></a></div><div class="separator" style="clear: both; text-align: center;"><br></div><div class="separator" style="clear: both; text-align: center;"><div style="text-align: justify;"><p class="blogbody" style="font-family: Helvetica; font-size: 11pt; line-height: 22px; margin: 0cm 0cm 6pt;"><b><u><span lang="EN-US" style="font-size: 10.5pt; line-height: 21px;"><span></span></span></u></b></p></div></div><a href="https://mastermetalsblog.blogspot.com/2025/05/platinum-another-year-another.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

6. Copper Treatment Charges plunge deep below zero

   Tue, 10 Jun 2025 14:34:00 -0000

   <div dir="ltr"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv0EhasryCCKeWiy46-dYr7CbFIvR2dVARxkI14ciComEFTJn8jNC035QER-n8_z43dtxBoea_gb8JFszjpnB-DNSs9_QGJQbEce3KHkjoWTlJ97KBAVPF-1B_c0QzDeonXicn7oSY3rVxY30jnnCxTKTMjKEAVXLohvm2fyrtKnfflKf1u6Q8sHluQVFM/s1200/Treatment%20Charges%20Are%20Below%20Zero.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="675" data-original-width="1200" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv0EhasryCCKeWiy46-dYr7CbFIvR2dVARxkI14ciComEFTJn8jNC035QER-n8_z43dtxBoea_gb8JFszjpnB-DNSs9_QGJQbEce3KHkjoWTlJ97KBAVPF-1B_c0QzDeonXicn7oSY3rVxY30jnnCxTKTMjKEAVXLohvm2fyrtKnfflKf1u6Q8sHluQVFM/w640-h360/Treatment%20Charges%20Are%20Below%20Zero.jpg" width="640"></a></div><h1><span style="font-family: inherit; font-weight: normal;"><span style="font-size: small;"><i>The unrelenting expansion of Chinese copper processing capacity over past few years seems to be the culprit.</i></span></span></h1></div> <div><span style="font-family: inherit;">Chilean miner <i><u>Antofagasta Plc</u></i><i> has proposed </i><i><u>negative charges</u></i><i> </i>for contracted supplies to smelters in the second half.</span></div> <div><p class="mobile-photo"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgdYmInKSdirU1fJg1ZIyHpmbJIIWf6TMt2kfz69NcIzbHRxN0_VuVYRoQlqkR98SSr3fzaVjkEka5s_alz8JUC4ScnpU8ZXnn_IUcj-Z6kWCShMBOfNIMbMdmhkaQGqZmWw8ch6TGoLZ9OqqoMyY5n4ZAEyYc50IPJMzIijYj1DAPj1Iq6yAsBMPtr-Dqr"></a></p><span style="font-family: inherit;">The situation is putting pressure on smelters worldwide, with high-cost facilities facing losses and older European copper smelters at risk, while <i>Japanese plants may be sheltered due to their parent companies&#39; stakes in Chilean mines</i>. </span></div><div><span style="font-family: inherit;"><br></span></div><div><div dir="ltr"><div><span style="font-family: inherit;">Granted, the plunge in fees is partly due to relatively slow growth in mine output worldwide— coupled with recent mine failures in the DRC ($<a data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://IVN.TO&amp;source=gmail&amp;ust=1749652701131000&amp;usg=AOvVaw1CcZApA3DV_IDNPIQzEATQ" href="http://ivn.to/" style="color: #1155cc; text-decoration-line: none;" target="_blank">IVN.TO</a>) and elsewhere— but it’s <b>primarily driven by the rapid increase in Chinese smelting capacity</b>. <span></span></span></div></div></div></div><a href="https://mastermetalsblog.blogspot.com/2025/06/copper-treatment-charges-plunge-deep.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

7. Amplats is now Valterra $VALT.L

   Wed, 11 Jun 2025 00:57:00 -0000

   <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTWdhR2fp0cgdv0gE1jzG59XlBX2wGa-iOpiHj2owEsT087rTqxYah1jbSnHVymNPR6QqLReiF1tESsJeIsfgu-pNLrYYpov4CfLg32Xfl9NDYYsvEaSZIuFemHlqBMSSWKv7QrUjFCrimoS8AeKcvpUNxxdzgEjDLCQWv5d7O4WhIHrofmeCVV9oE7yTJ/s2231/VALT_2025-06-10_20-24-13.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2231" data-original-width="2217" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTWdhR2fp0cgdv0gE1jzG59XlBX2wGa-iOpiHj2owEsT087rTqxYah1jbSnHVymNPR6QqLReiF1tESsJeIsfgu-pNLrYYpov4CfLg32Xfl9NDYYsvEaSZIuFemHlqBMSSWKv7QrUjFCrimoS8AeKcvpUNxxdzgEjDLCQWv5d7O4WhIHrofmeCVV9oE7yTJ/w636-h640/VALT_2025-06-10_20-24-13.png" width="636"></a></div><div class="separator" style="clear: both; text-align: center;"><p align="center" class="gmail-MsoTitle" style="font-family: Helvetica; font-size: 16pt; font-style: italic; font-weight: bold; margin: 0cm 0cm 12pt;"><span lang="EN-US">Anglo American’s Platinum Spinoff is Off to the Races!</span><span lang="EN-US"></span></p> <p align="center" class="MsoNormal" style="font-family: Georgia, serif; font-size: 10.5pt; line-height: 150%; margin: 0cm 0cm 10.5pt;"><span lang="EN-US" style="font-family: Helvetica;"></span></p> <p class="MsoNormal" style="font-family: Georgia, serif; line-height: 150%; margin: 0cm 0cm 10.5pt; text-align: justify;"><span lang="EN-US" style="font-family: Helvetica;">Anglo American $AAL.L has now completed the demerger of </span><b><span style="font-family: Helvetica;">Amplats</span></b><span lang="EN-US" style="font-family: Helvetica;">, with the renamed <b>Valterra Platinum Limited</b> trading under </span><span style="font-family: Helvetica;">ticker symbol <b><a href="https://www.tradingview.com/symbols/LSE-VALT/?aff_id=138733&amp;source=VALT" style="color: #467886;">VALT</a></b></span><span style="font-family: Helvetica;"> <span lang="EN-US">in London and on the Johannesburg Stock<a name="fnref1"></a> Exchange. The spinoff comes at the perfect moment just as Platinum seems to be finally coming out of its funk after years of </span></span><span style="font-family: Helvetica;">challenging market conditions for </span><span lang="EN-US" style="font-family: Helvetica;">PGM’s.</span></p> <p class="MsoNormal" style="font-family: Georgia, serif; line-height: 150%; margin: 0cm 0cm 10.5pt; text-align: justify;"><span lang="EN-US" style="font-family: Helvetica;">Anglo <i>distributed 51% of Amplats</i>, with Shareholders receiving <b>110 shares in Valterra Platinum for every 1,075 Anglo American shares held</b>. Simultaneously, <i>Anglo American underwent a</i> <i>share consolidation, issuing 96 new shares for every 109 previously held</i>. Following the spinoff, Anglo retains a 19.9% stake in Valterra, having already reduced its holding through earlier disposals<a name="fnref1:1"></a><a name="fnref2:1"></a><a name="fnref5"></a>.</span></p> <p class="MsoNormal" style="font-family: Georgia, serif; line-height: 150%; margin: 0cm 0cm 10.5pt; text-align: justify;"><span lang="EN-US" style="font-family: Helvetica;">On its first day on the London Stock Exchange, Valterra shares started trading at around 29.30 pence, valuing the <b>world&#39;s largest platinum group metals mining company</b> at around GBP 7.77 billion (US$10.45 billion)— and Anglo American&#39;s 19.9% retained stake at around GBP 1.55 billion. The stock has increased 10% as Platinum wakes up from its slumber.<span></span></span></p></div><a href="https://mastermetalsblog.blogspot.com/2025/06/amplats-is-now-valterra-valtl.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

8. Gold overtakes Euro as global reserve asset, ECB

   Wed, 11 Jun 2025 14:14:00 -0000

   <div dir="ltr"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnCb7kG20NpXTd75Y3Wq1GgtUF0SepPzFG3zANCkoYVlsNodFR5-iXdjSfsW3QbobUJVH0floXOI8ecfuRpNTo-0S1J8OchonThRYVxL4OUrwNUUV-ujD2o7nqVp85r-gyzOcVcKse5QZBQEngJIqNbF11ig6UwvhgsfD-eAWDiCGgfSfUJPUR8CBsmI8/s1369/gold%202nd%20reserve%20asset.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1369" data-original-width="1098" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnCb7kG20NpXTd75Y3Wq1GgtUF0SepPzFG3zANCkoYVlsNodFR5-iXdjSfsW3QbobUJVH0floXOI8ecfuRpNTo-0S1J8OchonThRYVxL4OUrwNUUV-ujD2o7nqVp85r-gyzOcVcKse5QZBQEngJIqNbF11ig6UwvhgsfD-eAWDiCGgfSfUJPUR8CBsmI8/w514-h640/gold%202nd%20reserve%20asset.jpeg" width="514"></a></div><h1><i><font size="4">Central banks continue to accumulate gold at a record pace.</font></i></h1></div> <div>Bullion accounted for 20% of global official reserves last year, outstripping the Euro&#39;s 16% and second only to the USD at 46%, an ECB <u>report</u> published on Wednesday showed. </div> <div><br></div> <div><b>Central banks acquired more than 1,000 tonnes of gold in 2024 for the 3rd year in a row. 20%</b><b><i> of the total global annual production and 2X the annual amount of the 2010s</i></b>.</div> <div><br></div> <div>The stock of <i><u>gold held by central banks worldwide is approaching <span></span></u></i></div></div><a href="https://mastermetalsblog.blogspot.com/2025/06/gold-overtakes-euro-as-global-reserve.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

9. In February we asked, “Will Platinum ever regain its lustre?”

   Thu, 12 Jun 2025 02:27:00 -0000

   <div><div style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbwwTPpyd8WcnopwjuSz_Db4gvHH4IcX5onCUh1-6z4bq78d3qqXf6ervLqhowFd7HdHFmZmiI9kXWBNDLuA4izcIpkdVLuD8HfzBtXdLZuxwufPyuihBeo4cztPzYdDMupWO3-tbmRV9gcwAUlgwa5VVqOF1UwcZcw6THSqo6GRC4HK-KX1E7mNOEI7Y/s2569/PL1!_2025-06-12_03-45-43.png" imageanchor="1"><img border="0" data-original-height="2231" data-original-width="2569" height="556" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbwwTPpyd8WcnopwjuSz_Db4gvHH4IcX5onCUh1-6z4bq78d3qqXf6ervLqhowFd7HdHFmZmiI9kXWBNDLuA4izcIpkdVLuD8HfzBtXdLZuxwufPyuihBeo4cztPzYdDMupWO3-tbmRV9gcwAUlgwa5VVqOF1UwcZcw6THSqo6GRC4HK-KX1E7mNOEI7Y/w640-h556/PL1!_2025-06-12_03-45-43.png" width="640"></a></div><br>Well, we had to wait several more months since that <a href="https://mastermetalsblog.blogspot.com/2025/02/will-platinum-ever-regain-its-lustre.html">post</a>, but I’d say, with Platinum up 20% since then, the answer is <b><i>Yes</i></b>!<span></span></div><a href="https://mastermetalsblog.blogspot.com/2025/06/in-february-we-asked-will-platinum-ever.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

10. So, the rumors were true, $AU is out of $GTWO.TO—but who’s in?

    Fri, 11 Jul 2025 14:00:00 -0000

    <img border="0" data-original-height="337" data-original-width="1439" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQ_j-PsSjkPWjytR3pwY9aYmq6msDZ5sXfgLlmNAn3-6SaE7-dnIxPXU3WiCv3onNGr3lnqFsLx_k4rMfL_EsSBRgQmXmkJafgR0Y5xaw3aBFU0hqjIg4ZeJ6iW5rreubC-eVGkk47p8Uc3HX105m2xlIvPUf_Pzm4hyphenhyphenJC4Z9RBaF3fmOlKHS-aPD8GoY/w640-h150/Anglo%20GTWO%20Sale.png" style="caret-color: rgb(0, 0, 238); color: #0000ee; text-align: center; text-decoration: underline;" width="640"><div><div style="text-align: center;"><span style="color: #0000ee;"><span style="-webkit-tap-highlight-color: rgba(0, 0, 0, 0); caret-color: rgb(0, 0, 238);"><u><br></u></span></span></div><div style="text-align: justify;"><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: justify;"><span class="s1" style="font-family: UICTFontTextStyleBody;">AngloGold Ashanti has officially exited its investment in G2 Goldfields, selling its entire 14.95% stake (35,948,965 shares) in a single market transaction on July 8, 2025, at 2.75/share for just under CAD 99 Million.</span></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: justify;"><span class="s1" style="font-family: UICTFontTextStyleBody;"><br></span></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: justify;"><span class="s1" style="font-family: UICTFontTextStyleBody;">The shares were placed with two “</span><span class="s2" style="font-family: UICTFontTextStyleItalicBody; font-style: italic;">large European institutional investors</span><span class="s1" style="font-family: UICTFontTextStyleBody;">”, with one taking up approximately 23 million shares, about 9.5% of $GTWO</span><span class="s2" style="font-family: UICTFontTextStyleItalicBody; font-style: italic;"> —just under the 10% threshold where they would have to disclose and register as an insider to the TSX… Interested to know if it’s a passive or active fund (a la La Mancha)?</span></p><p class="p2" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; min-height: 26px; text-align: justify;"><span class="s2" style="font-family: UICTFontTextStyleItalicBody; font-style: italic;"></span><br></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: start;"><span class="s1" style="font-family: UICTFontTextStyleBody;"></span></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: justify;"><span class="s2" style="font-family: UICTFontTextStyleItalicBody; font-style: italic;">This opens up the playing field once again.</span></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 21px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px; text-align: start;"><span class="s1" style="font-family: UICTFontTextStyleBody;"></span></p><p class="p1" style="-webkit-text-size-adjust: auto; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 27px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 4px; text-align: start;"><span></span></p></div></div><a href="https://mastermetalsblog.blogspot.com/2025/07/so-rumors-were-true-au-is-out-of.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

11. $NDM.TO / $NAK Insiders Dump Shares Before EPA Suit

    Wed, 23 Jul 2025 01:37:00 -0000

    <p class="MsoNormal" style="line-height: 112%; margin-bottom: 7.85pt; margin-left: 0cm; margin-right: 0cm; margin-top: 7.85pt; margin: 7.85pt 0cm; text-align: justify;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjGEQgqJQ8EV01SG17jGEpnLqa2NSAnISTCawSk_M4ehjvPgEh6fXXhcQQ_GENCwOcX-MApKNfjwg-ITwjQDwHDPDhsii4dldBNDob2TSpkiN7vGSMs2WtPSEEiM7_Umlv6SMbb9dK8t2DY6-VgWB0eBzNU8a_isX1tOOoTZdEH0TZSWz4QHTqKdxGZI0E"><img alt="" border="0" height="640" id="BLOGGER_PHOTO_ID_7530085513422306178" src="https://blogger.googleusercontent.com/img/a/AVvXsEjGEQgqJQ8EV01SG17jGEpnLqa2NSAnISTCawSk_M4ehjvPgEh6fXXhcQQ_GENCwOcX-MApKNfjwg-ITwjQDwHDPDhsii4dldBNDob2TSpkiN7vGSMs2WtPSEEiM7_Umlv6SMbb9dK8t2DY6-VgWB0eBzNU8a_isX1tOOoTZdEH0TZSWz4QHTqKdxGZI0E=w570-h640" width="570"></a></p><p class="MsoNormal" style="line-height: 112%; margin-bottom: 7.85pt; margin-left: 0cm; margin-right: 0cm; margin-top: 7.85pt; margin: 7.85pt 0cm; text-align: justify;"><b><span lang="EN-US" style="font-size: 19.5pt; line-height: 112%;">Northern Dynasty Insiders Dump Shares Before EPA Suit </span></b><span lang="EN-US"><a href="https://www.tradingview.com/symbols/TSX-NDM/?aff_id=138733"><b><span style="font-size: 19.5pt; line-height: 112%;">$NDM.TO</span></b></a></span><b><span lang="EN-US" style="font-size: 19.5pt; line-height: 112%;"> / </span></b><span lang="EN-US"><a href="https://www.tradingview.com/symbols/AMEX-NAK/?aff_id=138733"><b><span style="font-size: 19.5pt; line-height: 112%;">$NAK</span></b></a></span><span lang="EN-US"><o:p></o:p></span></p><p class="MsoNormal" style="line-height: 150%; margin-bottom: 10.5pt; text-align: justify;"><span lang="EN-US" style="line-height: 150%;">Just when the market believed the worst of the insider sales spree at Northern Dynasty Minerals ($NDM.TO, $NAK) was behind us, CEO &amp; Chairman Ronald Thiessen decided to upstage the entire board.  On Friday night—<i>precisely at 11:21 PM</i>— he delivered the coup de grâce filing a late disclosure that he had sold <b>600,000 shares</b> on July 14 at just over C$3.00 per share, pocketing a tidy C$1.8 million, and capping the relentless wave of selling by nearly every major executive and director at the company. The cherry on the Northern Dynasty insider selling cake, this came <i>after market close</i> and with no word yet on whether these sales involved his options at $2.01 that expired on July 17.<o:p></o:p></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaLL-faPp3I5vkeb6XO7yCt0QYLrfoeaZr9LgrDqQVu-y2Se3oauYxPYwWmN8dhXBuOanHd2YDQhCIg79JcyqEkOIANBNaMpbjUsj3r_XzL1tajWFNxsP3IhcGAqy2C6BjRJZ7bUFKDAt2d5j68OFFzCkDt0LDYcuIV3zj-3mbvpKFnqYJyPzqmwQ5gug/s2018/Screenshot%202025-07-23%20at%2003.05.34.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1202" data-original-width="2018" height="382" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaLL-faPp3I5vkeb6XO7yCt0QYLrfoeaZr9LgrDqQVu-y2Se3oauYxPYwWmN8dhXBuOanHd2YDQhCIg79JcyqEkOIANBNaMpbjUsj3r_XzL1tajWFNxsP3IhcGAqy2C6BjRJZ7bUFKDAt2d5j68OFFzCkDt0LDYcuIV3zj-3mbvpKFnqYJyPzqmwQ5gug/w640-h382/Screenshot%202025-07-23%20at%2003.05.34.png" width="640"></a></div><p class="MsoNormal" style="line-height: 150%; margin-bottom: 5.25pt; margin-left: -1.5pt; margin-right: 0cm; margin-top: 15.75pt; margin: 15.75pt 0cm 5.25pt -1.5pt;"><b><span lang="EN-US" style="font-size: 12pt; line-height: 150%;">The Timeline: How NDM&#39;s Insider Capitulation Unfolded</span></b><span lang="EN-US"><o:p></o:p></span></p><p class="MsoNormal" style="line-height: 150%; margin-bottom: 5.25pt; margin-left: -1.5pt; margin-right: 0cm; margin-top: 15.75pt; margin: 15.75pt 0cm 5.25pt -1.5pt;"><b><span lang="EN-US" style="font-size: 12pt; line-height: 150%;">1. July 16: First Red Flag</span></b><span lang="EN-US"><o:p></o:p></span></p><p class="MsoNormal" style="line-height: 150%; margin-bottom: 10.5pt; margin-left: 31.5pt; margin-right: 0cm; margin-top: 0cm; margin: 0cm 0cm 10.5pt 31.5pt; text-align: justify;"><span lang="EN-US">Massive insider selling rocks Northern Dynasty, as directors and senior management disclose they had disposed of over <b>2.6 million shares</b> worth nearly <b>C$6 million</b> throughout July.<span></span></span></p><a href="https://mastermetalsblog.blogspot.com/2025/07/ndmto-nak-insiders-dump-shares-before.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

12. $3500 Gold!

    Thu, 04 Sep 2025 00:10:00 -0000

    <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjty-HfYRiUAmy-5C6_ewhE3r7T8-mpFO7dOCA_8Pl-iPqCwJI8DlMHtSMjo2gHMst_1Z5JPjWjp6Z7fRlUFg8L1unhj80kN_Adr_U_boXAA4lMTyFrfeMrLhCKhd4xvAlZKJQcFvoB5YyNpcO9kIIYby4YDkrYob-2bg-5uRIrovbSETL9s5fPWPY00DM/s2772/IMG_0773.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1892" data-original-width="2772" height="436" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjty-HfYRiUAmy-5C6_ewhE3r7T8-mpFO7dOCA_8Pl-iPqCwJI8DlMHtSMjo2gHMst_1Z5JPjWjp6Z7fRlUFg8L1unhj80kN_Adr_U_boXAA4lMTyFrfeMrLhCKhd4xvAlZKJQcFvoB5YyNpcO9kIIYby4YDkrYob-2bg-5uRIrovbSETL9s5fPWPY00DM/w640-h436/IMG_0773.png" width="640" /></a></div><br />It’s been a long slog, but here we are!&nbsp;<div><br /></div><div>Gold made a clear break through $3500 this week hitting new highs—<i>&nbsp;over $3600/oz. on the futures—</i>, as lower rates, persistent inflation, tariffs uncertainty and geopolitical tensions linger in the air.&nbsp;</div><div><br /></div><div>We will see if we close this week above $3500. A correction could be in order in the short term—<i>it’s up 5% in a week</i>—, as it catches its breath before&nbsp;it takes on $4000! &nbsp;😉</div><div> <p> </p> <div> </div> ____________________________________________________ <p><a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a></p> <p><a href="https://twitter.com/MasterMetals">@MasterMetals</a></p> <div> </div><!--ShareThis BEGIN--><div class="sharethis-inline-reaction-buttons"></div><!--ShareThis END--> <!--ShareThis BEGIN--><div class="sharethis-inline-share-buttons"></div><!--ShareThis END--></div><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

13. Anglo-Teck

    Tue, 09 Sep 2025 12:56:00 -0000

    <div dir="ltr"><div><h1><img data-unique-identifier="" src="https://blogger.googleusercontent.com/img/a/AVvXsEiS5FtgcO2yIwKQBQahVlvjzExk5WXo5a-2In1uccM6v-lWke8KC16v941veB8BUevbx-zwFlDYmd8aNhYOkX7_ZNc09awkFm51SDy8jQBf2fBlzpGoGL4Wmn3bV9IDekmIvOuUtuOzASASjzcBMtnDQzbfBQUzuliSR3gCu38efXLBXZ3dc5LRk-EeGOQ" style="max-height: 100%; max-width: 100%;"></h1></div> <div><div><br></div><div>&quot;Merger of Equals&quot; puts Anglo in charge with 62% of the new company, after the Keevils won enough concessions to sell the transaction at home…</div><div><br></div><div>Anglo-Teck merger creates a 1.2MM Tons Copper producer, combining Collahuasi and Quebrada Blanca 2 mines in Chile for significant cost savings. However, other companies like Glencore, BHP, or Rio might make a better offer for either Anglo or Teck before the deal closes.</div></div><div><br></div> <div>The new 1.2MM Tons Copper producer&#39;s main benefit is <span></span></div></div><a href="https://mastermetalsblog.blogspot.com/2025/09/anglo-teck.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

14. Orion & US in talks to set up $1.2 Billion fund for overseas mining projects

    Thu, 18 Sep 2025 12:10:00 -0000

    <div dir="ltr"><div><h1><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiVrnnY1XjkEbTxRWM5wRqK1ZE1NJ6OwIZF1FYJLXoz0vjbh1IgS5jZcDr2z8iLd2HxxsBpkk9OoN5SuRNWd9v27kNSIxed6Sj_cVpFeEPYeiVyFLFgNaBAc9kxEiw6esthlDMKQ8DpD72VgBbl8CiitFwviXCD80hIzsae8LSVVjSOSbY7x0gW6ooBqVpa"><img alt="" border="0" height="640" id="BLOGGER_PHOTO_ID_7551400422875835810" src="https://blogger.googleusercontent.com/img/a/AVvXsEiVrnnY1XjkEbTxRWM5wRqK1ZE1NJ6OwIZF1FYJLXoz0vjbh1IgS5jZcDr2z8iLd2HxxsBpkk9OoN5SuRNWd9v27kNSIxed6Sj_cVpFeEPYeiVyFLFgNaBAc9kxEiw6esthlDMKQ8DpD72VgBbl8CiitFwviXCD80hIzsae8LSVVjSOSbY7x0gW6ooBqVpa=w480-h640" width="480"></a></h1><h3 style="text-align: left;"><span style="font-size: medium; font-weight: normal;"><i>US&#39; International Development Finance Corporation &amp; Orion Resource Partners would each invest $600mn or more in the new fund — potentially alongside other SWF &amp; US agencies—, as Washington seeks to counter Chinese dominance of critical minerals.</i></span></h3></div> <div>Of the US&#39; $600 Billion contribution, $100MM would be for equity stakes in mining projects &amp; $500MM for debt.</div> <div><br></div> <div>The DFC has already made a range of mining investments, including<span></span></div></div><a href="https://mastermetalsblog.blogspot.com/2025/09/orion-us-in-talks-to-set-up-12-billion.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

15. Gold $4000 ✅ - (Another 🥳) ATH

    Wed, 08 Oct 2025 20:19:00 -0000

    <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqTNl4qPQ-G9S5-vq1SX3uYxt05W335BYHphgNA2cd4lAXD9fq75NBDODCYCAfQBYDwH-_VHkPwL3T8dZfpuPiMDvS73M9Lx4wBajZ79p-GKWWcNaTMwnJ7bZWRGuQlEDcEcY4Yldq2UkN-PlLJ4PMhWxSYYfAc5fG24ZsdFzkodVpHbal1swnDBfi5RPU/s2400/IMG_1009.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="2400" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqTNl4qPQ-G9S5-vq1SX3uYxt05W335BYHphgNA2cd4lAXD9fq75NBDODCYCAfQBYDwH-_VHkPwL3T8dZfpuPiMDvS73M9Lx4wBajZ79p-GKWWcNaTMwnJ7bZWRGuQlEDcEcY4Yldq2UkN-PlLJ4PMhWxSYYfAc5fG24ZsdFzkodVpHbal1swnDBfi5RPU/w640-h426/IMG_1009.png" width="640"></a></div><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: Georgia; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 14px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 10.4px; min-height: 15.9px; text-size-adjust: auto;"><span style="font-kerning: none;"></span></p><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 26px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 10.4px; text-size-adjust: auto;"><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold;">Gold&#39;s Historic 2025 Rally: </span><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold; text-decoration: line-through;">53</span><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold;"> 54 All-Time Highs YTD</span></p><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 14px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 14px; text-align: justify; text-size-adjust: auto;"><span style="font-kerning: none;">Gold&#39;s phenomenal 2025 performance is turning heads, making everyone (finally) start to take notice. The barbarous relic is </span><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold;">up 50% YTD</span><span style="font-kerning: none;"> </span><span face="TimesNewRomanPS-BoldItalicMT" style="font-kerning: none; font-style: italic; font-weight: bold;">and has now set </span><span face="TimesNewRomanPS-BoldItalicMT" style="font-kerning: none; font-style: italic; font-weight: bold; text-decoration: line-through;">53</span><span face="TimesNewRomanPS-BoldItalicMT" style="font-kerning: none; font-style: italic; font-weight: bold;"> 54* All-Time Highs</span><span style="font-kerning: none;"> (through October </span><span style="font-kerning: none; text-decoration: line-through;">7</span><span style="font-kerning: none;"> 8). We’ve now breached the </span><span style="font-kerning: none; text-decoration: line-through;">$4,000/oz.</span><span style="font-kerning: none;"> $4,050/oz. mark, once thought to be just a Gold Bug’s fantasy. </span><span style="font-family: Georgia; font-kerning: none;">The combination of macro and monetary policy concerns,</span><span style="font-kerning: none;"> </span><span style="font-family: Georgia; font-kerning: none;">geopolitical uncertainties, and safe-haven demand</span><span style="font-family: Helvetica; font-kerning: none;">—</span><span style="font-kerning: none;">exacerbated by the ongoing <a data-preview="" href="https://www.google.com/search?ved=1t:260882&amp;q=US+federal+government+shutdown+2025&amp;bbid=6922014788628431621&amp;bpid=7561794685951702158" target="_blank">US federal government shutdown</a>—,</span><span style="font-family: Georgia; font-kerning: none;"> has proven unstoppable, creating the perfect storm for this year</span><span style="font-family: Helvetica; font-kerning: none;">’</span><span style="font-family: Georgia; font-kerning: none;">s relentless rally.</span></p><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 16px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 7px; text-size-adjust: auto;"><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold;">The Latest Milestone: $4,000/oz.</span></p><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: Georgia; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 14px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 14px; text-align: justify; text-size-adjust: auto;"><span style="font-kerning: none;">Gold</span><span style="font-family: Helvetica; font-kerning: none;">’</span><span style="font-kerning: none;">s bull run in 2025 reached historic heights on October 7</span><span style="font-kerning: none; font-size: 11.67px;">th</span><span style="font-kerning: none;"> as COMEX Gold Futures (<a href="https://www.tradingview.com/symbols/COMEX-GC1!/"><span style="-webkit-text-stroke-color: rgb(0, 0, 255); font-kerning: none;">GC1!</span></a>) surged past $4,000/oz. for the first time ever, ending the day near its high of $4,014.60/oz., only to be surpassed today by passing $4050 on the spot, with futures reaching $4074/oz., and notching the 54</span><span style="font-kerning: none; font-size: 11.67px;">th</span><span style="font-kerning: none;"> All-Time High of an already legendary year.</span></p><p style="-webkit-text-size-adjust: auto; -webkit-text-stroke-color: rgb(0, 0, 0); caret-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;; font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-size-adjust: none; font-size: 16px; font-variant-alternates: normal; font-variant-east-asian: normal; font-variant-ligatures: normal; font-variant-numeric: normal; font-variant-position: normal; font-variation-settings: normal; font-width: normal; line-height: normal; margin: 0px 0px 7px; text-size-adjust: auto;"><span face="TimesNewRomanPS-BoldMT" style="font-kerning: none; font-weight: bold;"><span></span></span></p><a href="https://mastermetalsblog.blogspot.com/2025/10/gold-4000-another-ath.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

16. Ivanhoe Mines: Platreef Goes Live

    Mon, 24 Nov 2025 19:41:00 -0000

    <style> body { font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.5; text-align: justify; margin: 0; padding: 0 8px; } h1, h2, h3, h4 { font-family: Helvetica, Arial, sans-serif; font-weight: bold; margin: 16px 0 6px 0; } h1 { font-size: 20px; } h2 { font-style: italic; } h3 { font-size: 16px; font-style: underline; } h4 { font-size: 13px; } p { margin: 8px 0; } ol, ul { margin: 8px 0 8px 20px; padding: 0; } table { border-collapse: collapse; font-size: 12px; width: auto; margin: 8px 0; text-align: center; } table th, table td { border: 1px solid #000000; padding: 4px; } thead tr { background: rgb(218, 233, 247); } </style> <body> <h1>PGM Game-Changer — A Multi-Commodity Transformation in Progress</h1> <h3><i>Platreef is live, Kipushi is ramping, Kamoa is recovering—here&#39;s what the next three years look like.</i></h3> <!-- LinkedIn embed (only if Blogger supports iframes) --> <iframe allowfullscreen="" frameborder="0" height="399" src="https://www.linkedin.com/embed/feed/update/urn:li:ugcPost:7364553097408315393?compact=1" title="Embedded post" width="504"> </iframe> <p> Ivanhoe Mines officially flipped the switch on its long-awaited Platreef project in South Africa&#39;s Bushveld Complex on November 19, and if you&#39;ve been tracking the platinum-group metals sector, you know this is no ordinary mine. Platreef is enormous and positioned to reshape the global PGM supply landscape over the next decade. Here&#39;s what production and revenue look like as the mine scales from Phase 1 through Phase 2. Phase 3 and beyond are not covered here. First let’s see them get through phase 2 - which is ambitious enough!</p> <p>Combined with Kamoa-Kakula (copper) and Kipushi (zinc), Ivanhoe aims to transform from a copper-dominant producer into a diversified multi-commodity mining house with exposure across base metals, precious metals, and PGMs. </p> <h3>What Makes Platreef Unique</h3> <span></span></body><a href="https://mastermetalsblog.blogspot.com/2025/11/ivanhoe-mines-platreef-goes-live.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

17. Barrick’s Bold -or Desperate- Move: Spinning Out its American Gold Assets

    Wed, 03 Dec 2025 03:11:00 -0000

    <div class="post-body entry-content" id="post-body-barrick-na-ipo" itemprop="articleBody"><h2 style="text-align: left;"><i>Barrick’s Latest Move: </i><em>IPO the Crown Jewels—But at What Price?</em></h2> <p><span style="font-size: small;"> Following Barrick&#39;s (NYSE: B) announcement that the board has authorized management to explore an initial public offering of its Tier 1 North American gold assets, let&#39;s take a closer look at what the spinout would look like. <b>The proposed “NewCo” would combine Nevada Gold Mines, Pueblo Viejo, and the wholly-owned Fourmile discovery into what could become one of the world’s largest pure-play gold companies</b>. </span></p> <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgONuTyvGs95FYxuWb5f23X-n_pdEPsKq_H2nwQ9j6YmnaOyhF2l8ZlLIFtdIoCuhoggm17eo8shBQt6B6KGWLDjzvB1YGFtqaPp75M4-I_BBE6akJ1T3Kk_lcfkcSHn4OHB5U4Q-fx451hlW8dpr5BdgqUri6AFyQ_HSA5qQtrgm1S8V1tBBX3xniwAJ_z/s1151/B_2025-12-03_01-42-46.png" style="margin-left: 1em; margin-right: 1em;"><img alt="Barrick under Bristow dreadfully under performed Gold and its peers by a wide mark over the last 5 years" border="0" data-original-height="845" data-original-width="1151" height="411" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgONuTyvGs95FYxuWb5f23X-n_pdEPsKq_H2nwQ9j6YmnaOyhF2l8ZlLIFtdIoCuhoggm17eo8shBQt6B6KGWLDjzvB1YGFtqaPp75M4-I_BBE6akJ1T3Kk_lcfkcSHn4OHB5U4Q-fx451hlW8dpr5BdgqUri6AFyQ_HSA5qQtrgm1S8V1tBBX3xniwAJ_z/w559-h411/B_2025-12-03_01-42-46.png" title="Barrick 5 Year performance to Sept. 2025" width="559"></a></div><span style="font-size: small;"> The timing is not accidental.  Barrick has been looking at options ever since it unceremoniously bid its CEO <i>adieu</i>--only days after he (finally) announced some good news after years of lackluster returns. Activist investor Elliott Management has also built a stake worth at least several hundred million dollars, putting it among Barrick’s top shareholders and increasing pressure for a breakup into more focused regional entities. </span><p></p><p></p><span style="font-size: small;"><b>Barrick under Bristow dreadfully under performed Gold and its peers by a wide mark over the last 5 years</b>. <i>(To be fair, $NEM also lagged after the Newcrest merger.)</i>  It wasn&#39;t until the end of Q2 --and after Bristow was ousted--that it finally caught up.</span></div><div class="post-body entry-content" id="post-body-barrick-na-ipo" itemprop="articleBody"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQOeYggvvaABhAGqg-XkdG4897nW3QXdKxT6l6FcNFfieHV1KS5vk3HbSUDGuFeT_kN210ODfYUZ_iMBRCyScdNSZ6IfmU6uoQsxvyRhY8YYqQz-NGs65FWLgBsp88oSpE64MM401qSKvOK4nYVeb4XDICX1iHGJIascp_jQf7U7cSvOHL34UdcCkVtf0K/s1151/B_2025-12-03_01-26-31.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="845" data-original-width="1151" height="416" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQOeYggvvaABhAGqg-XkdG4897nW3QXdKxT6l6FcNFfieHV1KS5vk3HbSUDGuFeT_kN210ODfYUZ_iMBRCyScdNSZ6IfmU6uoQsxvyRhY8YYqQz-NGs65FWLgBsp88oSpE64MM401qSKvOK4nYVeb4XDICX1iHGJIascp_jQf7U7cSvOHL34UdcCkVtf0K/w566-h416/B_2025-12-03_01-26-31.png" width="566"></a></div><span></span></div><a href="https://mastermetalsblog.blogspot.com/2025/12/barricks-bold-or-desperate-move.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

18. Ivanhoe's Kamoa-Kakula: Lower, Slower, But Still World-Class

    Mon, 08 Dec 2025 00:49:00 -0000

    <div style="font-family: Helvetica, Arial, sans-serif; font-size: 13px; line-height: 1.6;"> <h2 style="font-size: 22px; font-weight: bold; margin-bottom: 8px;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEUsSdp2ufIE-Cx2vyoqRzxogG_fTCwsdN82fXKI-tHBDeHQrTqWETk7uIbmSoMY9hGqcuyR37ds8kLCx08Fd2J2S5fbQA9SIEJK3s6_N8q5JOSeuBQzEBdcHpZUZWUrn8EhMv0pclx9v9tYJo-k2FHQD_EicD6TTM16Zfqzn2jv3Pbbbf-gow_aZEC7Ex/s3217/IVN%20UPDATE.png" style="margin-left: 1em; margin-right: 1em;"><img alt="Ivanhoe Updated Guidance" border="0" data-original-height="1915" data-original-width="3217" height="380" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEUsSdp2ufIE-Cx2vyoqRzxogG_fTCwsdN82fXKI-tHBDeHQrTqWETk7uIbmSoMY9hGqcuyR37ds8kLCx08Fd2J2S5fbQA9SIEJK3s6_N8q5JOSeuBQzEBdcHpZUZWUrn8EhMv0pclx9v9tYJo-k2FHQD_EicD6TTM16Zfqzn2jv3Pbbbf-gow_aZEC7Ex/w640-h380/IVN%20UPDATE.png" title="Ivanhoe Updated Guidance" width="640"></a></div>Ivanhoe&#39;s &quot;New Normal&quot; at Kamoa-Kakula</h2> <p style="margin-bottom: 12px; text-align: justify;"><em><strong>Lower, Slower, But Still World-Class</strong></em></p> <p style="margin-bottom: 12px; text-align: justify;">Ivanhoe Mines finally released its long-awaited 2026–2027 production guidance for Kamoa-Kakula on December 3^rd, and the numbers confirm what skeptics feared: <strong>full recovery from the May 2025 flood will take longer and yield less than pre-incident expectations</strong>.</p> <h3 style="font-size: 17px; font-weight: bold; margin: 18px 0px 8px;">The New Guidance Reality</h3> <p style="margin-bottom: 8px;"><strong><span></span></strong></p></div><a href="https://mastermetalsblog.blogspot.com/2025/12/ivanhoes-kamoa-kakula-lower-slower-but.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

19. Ivanhoe $IVN.TO : Less Tonnes, but More Revenue

    Thu, 22 Jan 2026 17:55:00 -0000

    <div dir="ltr"><div class="gmail_quote gmail_quote_container"><div class="msg7339228016119835543"><div lang="en-CH" link="#467886" style="overflow-wrap: break-word; word-wrap: break-word;" vlink="#96607D"><div class="m_-3450799389492475676WordSection1"><p class="m_-3450799389492475676MsoTitle"><b><font size="4"><span>Ivanhoe: The New Numbers Matter</span><u></u><u></u></font></b></p> <div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiE5LzqFqSRj0Xk46MwwqA7b1Jrq0dgzNQe_WeFk0cTFqkfgu4mnJp_H66zxNbi-1yK-hdIhDN7BiyTncjArFucLmYb8Qho2Gx54saiCQJDnfw85EiJDcQYdafGcd-czsrPutnRe-0uifJ8o3AXnllwcWPaN0G-zsNPqLX_lCgBe7dKOBunM6w-wqoUsMPz/s2400/ivanhoe_revenue_forecast.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="2400" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiE5LzqFqSRj0Xk46MwwqA7b1Jrq0dgzNQe_WeFk0cTFqkfgu4mnJp_H66zxNbi-1yK-hdIhDN7BiyTncjArFucLmYb8Qho2Gx54saiCQJDnfw85EiJDcQYdafGcd-czsrPutnRe-0uifJ8o3AXnllwcWPaN0G-zsNPqLX_lCgBe7dKOBunM6w-wqoUsMPz/w640-h426/ivanhoe_revenue_forecast.png" width="640"></a></div> <p class="m_-3450799389492475676MsoCaption"><span style="font-size: x-small;"><i>Figure 1:Ivanhoe&#39;s revenue projections show significant upside from commodity price strength, with current spot prices adding +421M (19.3%) in 2026F and +727M (21.7%) in 2027F versus the original November 2025 price deck.<u></u><u></u></i></span></p> <p class="MsoNormal"><span>Following Ivanhoe&#39;s updates on Platreef &amp; Kamoa, and given the run-up in metals prices since last year, it&#39;s probably a good time to take a look at what this means for the bottom line ahead of full 2026 Guidance next month. The market seems to be valuing Ivanhoe Mines on old volumes, at old prices. The reality is lower volumes, yes, but at <i>much, much higher prices</i>.</span></p> <p class="MsoNormal"><span>When Ivanhoe reset Kamoa-Kakula production guidance on December 3, 2025, the market rightly punished the stock for a 27% copper cut in 2026. But since that guidance release, <b>every single commodity in Ivanhoe&#39;s basket has appreciated materially</b>, generating a <b>$421M revenue uplift in 2026 and, at current spot prices, a $727M windfall in 2027</b>—entirely from price strength, not volume growth. There are also a couple of (positive) surprises hiding inside that it seems nobody&#39;s modeling<i>.</i></span><u></u><u></u></p> <p class="MsoNormal"><i><span style="font-size: 10pt;">Let&#39;s take a look under the hood.</span></i><u></u><u></u></p> <h1><a name="m_-3450799389492475676__Toc219942333">The Numbers</a><u></u><u></u></h1> <p class="MsoNormal" style="margin-bottom: 0cm;"><span style="font-size: 10pt;">Without mining a single additional tonne, Ivanhoe&#39;s 2027 revenue grows by $727M purely from commodity price appreciation vs. the November 2025 estimates.</span><u></u><u></u></p> <p class="MsoNormal" style="margin-bottom: 0cm;"><span style="font-size: 10pt;"> </span><u></u><u></u></p> <div align="center"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: "auto";"> <thead> <tr style="break-inside: avoid; page-break-inside: avoid;"> <td style="background: 0% 0% repeat rgb(193, 240, 200); border: 1pt solid black; padding: 5pt; width: "auto";" valign="top" width="auto"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2026F</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(193, 240, 200); border-color: black black black currentcolor; border-image: none; border-left: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; border: 1pt solid black; padding: 5pt; width: "auto" ;" valign="top" width="auto"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2026F at Old Prices</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(193, 240, 200); border-color: black black black currentcolor; border-image: none; border-left: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; border: 1pt solid black; padding: 5pt; width: 84.95pt;" valign="top" width="auto"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2026F at Spot</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(193, 240, 200); border-color: black black black currentcolor; border-image: none; border-left: none; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; border: 1pt solid black; padding: 5pt; width: "auto" ;" valign="top" width="134"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">Uplift</span></b><u></u><u></u></p> </td> </tr> </thead> <tbody> <tr style="break-inside: avoid; page-break-inside: avoid;"> <td style="border-color: currentcolor black black; border-image: none; border-style: none solid solid; border-top: none; border-width: medium 1pt 1pt; border: 1pt solid black; padding: 5pt; width: "auto";" valign="top" width="auto"> <p class="MsoNormal" style="margin-bottom: 0cm;"><b><span style="font-size: 10pt;">Total Revenue</span></b><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: "auto";" valign="top" width="auto"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><span style="font-size: 10pt;">$2,178M</span><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: "auto";" valign="top" width="auto"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><span style="font-size: 10pt;">$2,599M</span><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 100.7pt;" valign="top" width="134"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><i><span style="font-size: 10pt;">+$421M (+19.3%)</span></i></b><u></u><u></u></p> </td> </tr> <tr style="break-inside: avoid; page-break-inside: avoid;"> <td style="background: 0% 0% repeat rgb(192, 230, 245); border-color: currentcolor black black; border-image: none; border-style: none solid solid; border-top: none; border-width: medium 1pt 1pt; border: 1pt solid black; padding: 5pt; width: 88.45pt;" valign="top" width="118"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2027F</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(192, 230, 245); border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 113.55pt;" valign="top" width="151"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2027F at Old Prices</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(192, 230, 245); border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 84.95pt;" valign="top" width="113"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">2027F at Spot</span></b><u></u><u></u></p> </td> <td style="background: 0% 0% repeat rgb(192, 230, 245); border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 100.7pt;" valign="top" width="134"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><span style="color: black; font-size: 10pt;">Uplift</span></b><u></u><u></u></p> </td> </tr> <tr style="break-inside: avoid; page-break-inside: avoid;"> <td style="border-color: currentcolor black black; border-image: none; border-style: none solid solid; border-top: none; border-width: medium 1pt 1pt; border: 1pt solid black; padding: 5pt; width: 88.45pt;" valign="top" width="118"> <p class="MsoNormal" style="margin-bottom: 0cm;"><b><span style="font-size: 10pt;">Total Revenue</span></b><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 113.55pt;" valign="top" width="151"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><span style="font-size: 10pt;">$3,347M</span><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 84.95pt;" valign="top" width="113"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><span style="font-size: 10pt;">$4,074M</span><u></u><u></u></p> </td> <td style="border-bottom-color: black; border-color: currentcolor black black currentcolor; border-left-color: initial; border-right-color: black; border-style: none solid solid none; border-top-color: initial; border-width: medium 1pt 1pt medium; padding: 5pt; width: 100.7pt;" valign="top" width="134"> <p align="center" class="MsoNormal" style="margin-bottom: 0cm; text-align: center;"><b><i><span style="font-size: 10pt;">+$727M (+21.7%)</span></i></b><u></u><u></u></p> </td> </tr> </tbody> </table> </div> <p class="MsoNormal"><i><span style="font-size: 9pt;">Millions USD. Previous from November 2025 estimates. Spot Prices Jan. 16, 2026. All production figures attributable to Ivanhoe; volumes held constant at December 2025 guidance.</span></i><u></u><u></u></p> <h2><a name="m_-3450799389492475676__Toc219942334">Revenue Mix by Asset at Spot Prices<span></span></a></h2></div></div></div></div></div><a href="https://mastermetalsblog.blogspot.com/2026/01/fwd-ivanhoe-ivnto-less-tonnes-but-more.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

20. Alamos Gold Investor Day 2026 transcript

    Wed, 04 Feb 2026 23:02:00 -0000

    <h2 class="title-KX2tCBZq title-sZAHdKLd" data-qa-id="news-description-title" style="--ui-lib-typography-font-size: 48px; --ui-lib-typography-line-height: 56px; background-color: rgba(255, 255, 255, 0); font-feature-settings: &quot;tnum&quot;, &quot;lnum&quot;; line-height: 56px; margin: 0px 0px 24px; overflow-wrap: anywhere; padding: 0px; text-align: center; text-decoration-thickness: initial;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgF-exE2c0C78PP753lVZadfYfaC4TKYTbcbz4OPRV931O3jNxZdvRisOpVSY6DCqXpOj3jTcoHikSH8RRykdzXpfNmNcQ6m-hwnygQh_KLgnDBhjNghShRj-nH9pSuxApWi-Eujg6122RDESHKyJdOkJo2cKN1xl1hEI4yejXYEhEyHKvnST2D0oQGwXX/s16000/AGI%20PRODN.png"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgF-exE2c0C78PP753lVZadfYfaC4TKYTbcbz4OPRV931O3jNxZdvRisOpVSY6DCqXpOj3jTcoHikSH8RRykdzXpfNmNcQ6m-hwnygQh_KLgnDBhjNghShRj-nH9pSuxApWi-Eujg6122RDESHKyJdOkJo2cKN1xl1hEI4yejXYEhEyHKvnST2D0oQGwXX/w640-h360/AGI%20PRODN.png"></a></h2><h2 class="title-KX2tCBZq title-sZAHdKLd" data-qa-id="news-description-title" style="--ui-lib-typography-font-size: 48px; --ui-lib-typography-line-height: 56px; background-color: rgba(255, 255, 255, 0); font-feature-settings: &quot;tnum&quot;, &quot;lnum&quot;; line-height: 56px; margin: 0px 0px 24px; overflow-wrap: anywhere; padding: 0px; text-decoration-thickness: initial;"><span face="EuclidCircularSemibold, sans-serif" style="color: #0f0f0f;"><span style="font-size: 48px;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3PyJ-mhzY7Jk0Et7QEGrPGUg8C1gTEOFN1yh0JUEeNS3H5fKNGLmewdGFUlDtG-XebwIK7kb3Bt15g_uvhl5chmFet2EnmJktWAVVHWq2XUoOh7qGgHu1t_2R_zhZwDX9clxc6_dju7uwKZwhAcfhTWf3teysVsBGmrM7kdpeSnnI8h7F0UYt6hEUgPXl/s8000/AGI%202026%20-%202028%20Production%20AISC%20Guidance.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="4500" data-original-width="8000" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3PyJ-mhzY7Jk0Et7QEGrPGUg8C1gTEOFN1yh0JUEeNS3H5fKNGLmewdGFUlDtG-XebwIK7kb3Bt15g_uvhl5chmFet2EnmJktWAVVHWq2XUoOh7qGgHu1t_2R_zhZwDX9clxc6_dju7uwKZwhAcfhTWf3teysVsBGmrM7kdpeSnnI8h7F0UYt6hEUgPXl/w640-h360/AGI%202026%20-%202028%20Production%20AISC%20Guidance.png" width="640"></a></div><br>Alamos Gold Investor Day 2026 transcript</span></span></h2><div><span face="-apple-system, &quot;system-ui&quot;, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif" style="background-color: white; color: #0f0f0f; font-size: 18px;"><i>&quot;Obviously, Island&#39;s been a big success story from an exploration standpoint, but there&#39;s a lot of success going across the rest of our portfolio.&quot;</i></span></div><div><span face="-apple-system, &quot;system-ui&quot;, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif" style="background-color: white; color: #0f0f0f; font-size: 18px;"><i><br></i></span></div><div><span face="-apple-system, &quot;system-ui&quot;, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif" style="background-color: white; color: #0f0f0f; font-size: 18px;"><i>&quot;Some of the recent drill results we&#39;ve put out over the past week and the past year, really high-grade intercepts from within the main structure, as well as that spectacular new hole we released earlier this week from the Cline-Pick target. That is an upside opportunity beyond the expansion study that we&#39;re gonna be outlining today, but fundamentally, it&#39;s that pace of exploration success, which is driving the larger expansion of the district.&quot;</i></span></div><div><span face="-apple-system, &quot;system-ui&quot;, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif" style="background-color: rgba(255, 255, 255, 0); color: #0f0f0f; font-size: 18px;"><i><br></i></span></div><div class="timeAndSocialShare-sZAHdKLd" style="align-items: center; background-color: white; color: #0f0f0f; column-gap: 12px; display: flex; font-family: -apple-system, system-ui, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif; font-size: 14px; font-variant-ligatures: normal; gap: 12px; justify-content: space-between; margin-bottom: 48px; min-height: 28px; orphans: 2; row-gap: 12px; text-decoration-thickness: initial; widows: 2;"><span class="container-S9SJ08EW" face="-apple-system, BlinkMacSystemFont, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif" style="--ui-lib-typography-font-size: 14px; --ui-lib-typography-line-height: 18px; color: #707070; display: block; font-feature-settings: &quot;tnum&quot;, &quot;lnum&quot;; line-height: 18px;"><time datetime="2026-02-04T13:30:00.000Z" style="display: inline-block;"><time-format from="year" locale="en" time-zone-name="true" timestamp="1770211800000" to="minute">Feb 4, 2026, 14:30 GMT+1</time-format></time></span></div><div style="background-color: rgba(255, 255, 255, 0); color: #0f0f0f; font-family: -apple-system, system-ui, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif; font-size: 14px; font-variant-ligatures: normal; orphans: 2; text-decoration-thickness: initial; widows: 2;"><div class="content-KX2tCBZq" style="grid-area: 1 / 1;"><div class="body-KX2tCBZq content-pIO_GYwT body-pIO_GYwT" style="--ui-lib-typography-font-size: 18px; --ui-lib-typography-line-height: 28px; font-family: -apple-system, BlinkMacSystemFont, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif; font-feature-settings: &quot;tnum&quot;, &quot;lnum&quot;; font-size: 18px; line-height: 28px; margin-bottom: 48px; word-break: break-word;"><p style="margin: 0px 0px 24px; padding: 0px;"></p><p style="margin: 0px 0px 24px; padding: 0px;"><strong class="root-Tkn6WL2y"><strong class="root-Tkn6WL2y" style="background-color: rgba(255, 255, 255, 0); font-family: -apple-system, BlinkMacSystemFont, &quot;Trebuchet MS&quot;, Roboto, Ubuntu, sans-serif;"><a href="https://drive.google.com/file/d/1cYixA4aA8WTYs_VVvvSe8jGbqX5vSW4W/view?usp=sharing" target="_blank"><span></span></a></strong></strong></p></div></div></div><a href="https://mastermetalsblog.blogspot.com/2026/02/alamos-gold-investor-day-2026-transcript.html#more"></a><div class="blogger-post-footer">Read it all on <a href="https://mastermetalsblog.blogspot.com/">MasterMetals</a> <a href="https://x.com/MasterMetals">@MasterMetals</a> </div>

21. $GDXJ: VANECK JUNIOR GOLD MINERS ETF DOWN 2.8938%! Last at $97.65 https://bit.ly/39s7ZgS #MasterMetals #GDXJ https://bit.ly/4fRhP1j

    Thu, 23 Jul 2026 20:40:25 -0000

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22. #Silver: $SLV iShares Silver Trust DOWN 3.4495%! Last at $52.06 on July 23, 2026 at 02:00AM. https://bit.ly/2uOmXzN https://bit.ly/4fejEFq

    Thu, 23 Jul 2026 20:45:20 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">#Silver: $SLV iShares Silver Trust DOWN 3.4495%! Last at $52.06 on July 23, 2026 at 02:00AM. https://bit.ly/2uOmXzN https://bit.ly/4fejEFq</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2080393077768753404">Jul 23, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2080393077768753404<br> July 23, 2026 at 10:42PM<br>

23. $GDX: VANECK GOLD MINERS ETF DOWN 2.1909%! Last at $75 on July 23, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/44KGgHy

    Thu, 23 Jul 2026 21:00:50 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDX: VANECK GOLD MINERS ETF DOWN 2.1909%! Last at $75 on July 23, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/44KGgHy</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2080396470553846233">Jul 23, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2080396470553846233<br> July 23, 2026 at 10:55PM<br>

24. #Silver $SLV ( iShares Silver Trust) up by 1.0565%! Last at 52.61 https:https://bit.ly/3cr17mW #MasterMetals https://bit.ly/3Tj4I0e

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25. Thanks Dan John https://bit.ly/4fWWwun for following #MasterMetals! This is the place for all your #Gold, #Silver, #Copper, #Uranium, #Lithium and #MiningStocks News. For more #Metals & #Commodities News, go to https://bit.ly/3HRE7hN

    Fri, 24 Jul 2026 23:40:35 -0000

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26. #Platinum $PPLT UP 2.079%! abrdn Physical Platinum Shares ETF Last at $14.73 on July 27, 2026 at 02:00AM. #MasterMetals https://bit.ly/39s7ZgS https://bit.ly/4pEYFz2

    Mon, 27 Jul 2026 20:20:13 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">#Platinum $PPLT UP 2.079%! abrdn Physical Platinum Shares ETF Last at $14.73 on July 27, 2026 at 02:00AM. #MasterMetals https://bit.ly/39s7ZgS https://bit.ly/4pEYFz2</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081836934167507427">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081836934167507427<br> July 27, 2026 at 10:19PM<br>

27. It’s been a long wait for the Silver Whackos! 😅😂 https://bit.ly/4gUwZnA

    Mon, 27 Jul 2026 20:25:37 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">It’s been a long wait for the Silver Whackos! 😅😂 https://bit.ly/4gUwZnA</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081837491389182175">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081837491389182175<br> July 27, 2026 at 10:21PM<br>

28. Global X Silver Miners ETF $SIL UP 0.5302%! Last at 75.84 https://bit.ly/39s7ZgS #Silver #SIL #MasterMetals #charts https://bit.ly/4h0ZjVu

    Mon, 27 Jul 2026 20:30:40 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Global X Silver Miners ETF $SIL UP 0.5302%! Last at 75.84 https://bit.ly/39s7ZgS #Silver #SIL #MasterMetals #charts https://bit.ly/4h0ZjVu</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081839150672613809">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081839150672613809<br> July 27, 2026 at 10:28PM<br>

29. Thanks Trader Alex https://bit.ly/44NG7TN for following #MasterMetals! This is the place for all your #Gold, #Silver, #Copper, #Uranium, #Lithium and #MiningStocks News. For more #Metals & #Commodities News, go to https://bit.ly/3HRE7hN

    Mon, 27 Jul 2026 20:35:23 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Thanks Trader Alex https://bit.ly/44NG7TN for following #MasterMetals! This is the place for all your #Gold, #Silver, #Copper, #Uranium, #Lithium and #MiningStocks News. For more #Metals &amp; #Commodities News, go to https://bit.ly/3HRE7hN</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081840360091742572">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081840360091742572<br> July 27, 2026 at 10:33PM<br>

30. #Gold: SPDR Gold Shares ETF ($GLD) at $374.57, UP 0.7179%! https://bit.ly/32wGTDM #MasterMetals https://bit.ly/4x0KSFu

    Mon, 27 Jul 2026 22:15:38 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">#Gold: SPDR Gold Shares ETF ($GLD) at $374.57, UP 0.7179%! https://bit.ly/32wGTDM #MasterMetals https://bit.ly/4x0KSFu</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081865565476393218">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081865565476393218<br> July 28, 2026 at 12:13AM<br>

31. 👀 $LUG.TO 💪🏿 Strong results from ongoing conversion & exploration drilling at Fruta del Norte gold mine (FDN, FDN South, and FDN East) in Ecuador, confirms further resource growth & conversion potential. 4 four gold-silver epithermal deposits identified to date https://bit.ly/3TDDSzV https://bit.ly/4wsYycD

    Mon, 27 Jul 2026 22:15:39 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">👀 $LUG.TO 💪🏿 Strong results from ongoing conversion &amp; exploration drilling at Fruta del Norte gold mine (FDN, FDN South, and FDN East) in Ecuador, confirms further resource growth &amp; conversion potential. 4 four gold-silver epithermal deposits identified to date https://bit.ly/3TDDSzV https://bit.ly/4wsYycD</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081865601539084745">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081865601539084745<br> July 28, 2026 at 12:13AM<br>

32. #Silver $SLV ( iShares Silver Trust) up by 0.6465%! Last at 52.93 https:https://bit.ly/3cr17mW #MasterMetals https://bit.ly/4c7v2Rk

    Mon, 27 Jul 2026 22:15:40 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">#Silver $SLV ( iShares Silver Trust) up by 0.6465%! Last at 52.93 https:https://bit.ly/3cr17mW #MasterMetals https://bit.ly/4c7v2Rk</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081865601773977820">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081865601773977820<br> July 28, 2026 at 12:13AM<br>

33. $GDX: VANECK GOLD MINERS ETF UP 0.6846%, last at $75.745 on July 27, 2026 at 02:00AM. https://bit.ly/39s7ZgS #MasterMetals https://bit.ly/4vSpCAQ

    Mon, 27 Jul 2026 22:35:33 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDX: VANECK GOLD MINERS ETF UP 0.6846%, last at $75.745 on July 27, 2026 at 02:00AM. https://bit.ly/39s7ZgS #MasterMetals https://bit.ly/4vSpCAQ</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2081870382630416490">Jul 27, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2081870382630416490<br> July 28, 2026 at 12:32AM<br>

34. #Silver: $SLV iShares Silver Trust DOWN 2.3427%! Last at $51.69 on July 28, 2026 at 02:00AM. https://bit.ly/2uOmXzN https://bit.ly/4fKbrI1

    Tue, 28 Jul 2026 22:15:16 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">#Silver: $SLV iShares Silver Trust DOWN 2.3427%! Last at $51.69 on July 28, 2026 at 02:00AM. https://bit.ly/2uOmXzN https://bit.ly/4fKbrI1</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082227741336670572">Jul 28, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082227741336670572<br> July 29, 2026 at 12:12AM<br>

35. $GDX: VANECK GOLD MINERS ETF DOWN 2.0071%! Last at $74.21 on July 28, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/4fEfpBM

    Tue, 28 Jul 2026 22:40:39 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDX: VANECK GOLD MINERS ETF DOWN 2.0071%! Last at $74.21 on July 28, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/4fEfpBM</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082234753986568656">Jul 28, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082234753986568656<br> July 29, 2026 at 12:40AM<br>

36. $GDXJ: VANECK JUNIOR GOLD MINERS ETF DOWN 2.2424%! Last at $96.78 https://bit.ly/39s7ZgS #MasterMetals #GDXJ https://bit.ly/4z3RxRl

    Tue, 28 Jul 2026 23:00:28 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDXJ: VANECK JUNIOR GOLD MINERS ETF DOWN 2.2424%! Last at $96.78 https://bit.ly/39s7ZgS #MasterMetals #GDXJ https://bit.ly/4z3RxRl</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082238837196017694">Jul 28, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082238837196017694<br> July 29, 2026 at 12:56AM<br>

37. @YellowLabLife They have no shame. FIFA & Kushner. Kushner is the epitome of influence peddling. And Infantino is just the latest FIFA president living the good life in the “noble promotion of sport”…🙄

    Wed, 29 Jul 2026 11:35:36 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">@YellowLabLife They have no shame. FIFA &amp; Kushner. Kushner is the epitome of influence peddling. And Infantino is just the latest FIFA president living the good life in the “noble promotion of sport”…🙄</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082429464013635712">Jul 29, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082429464013635712<br> July 29, 2026 at 01:34PM<br>

38. @BlackAlex58 Let’s hope Peru’s congress lets her do the job! 🤞

    Wed, 29 Jul 2026 12:35:18 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">@BlackAlex58 Let’s hope Peru’s congress lets her do the job! 🤞</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082443797556769016">Jul 29, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082443797556769016<br> July 29, 2026 at 02:31PM<br>

39. @calvinfroedge In the Midwest and the South-SW in the U.S. it’s the same.

    Wed, 29 Jul 2026 12:40:30 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">@calvinfroedge In the Midwest and the South-SW in the U.S. it’s the same.</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082445354801271148">Jul 29, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082445354801271148<br> July 29, 2026 at 02:37PM<br>

40. $GDX: VANECK GOLD MINERS ETF DOWN 0.8624%! Last at $73.57 on July 29, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/4ftBHYh

    Wed, 29 Jul 2026 22:55:14 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDX: VANECK GOLD MINERS ETF DOWN 0.8624%! Last at $73.57 on July 29, 2026 at 02:00AM https://bit.ly/39s7ZgS #MasterMetals #GDX https://bit.ly/4ftBHYh</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082599631846805645">Jul 29, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082599631846805645<br> July 30, 2026 at 12:50AM<br>

41. $GDXJ: VANECK JUNIOR GOLD MINERS ETF DOWN 1.8599%! Last at $94.98 https://bit.ly/39s7ZgS #MasterMetals #GDXJ https://bit.ly/4yJY1o4

    Wed, 29 Jul 2026 23:15:25 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GDXJ: VANECK JUNIOR GOLD MINERS ETF DOWN 1.8599%! Last at $94.98 https://bit.ly/39s7ZgS #MasterMetals #GDXJ https://bit.ly/4yJY1o4</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082604997489951212">Jul 29, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082604997489951212<br> July 30, 2026 at 01:11AM<br>

42. @MoneyMinersMill Yes, but Mali stinks. I’ll go over the recent results and let you know how it looks.

    Thu, 30 Jul 2026 11:20:35 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">@MoneyMinersMill Yes, but Mali stinks. I’ll go over the recent results and let you know how it looks.</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082788126162907534">Jul 30, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082788126162907534<br> July 30, 2026 at 01:19PM<br>

43. $GTWO Spin-Out of G3 Goldfields Complete G2 distributed 100% of G3 Shares to former G2 shareholders on a pro rata basis, 1 G3 Share for each 2 G2 shares held on the effective date of the Arrangement. Listing expected on CSE. G3 funded with C$45 million in cash + contingent https://bit.ly/44SQm9o

    Thu, 30 Jul 2026 11:25:40 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GTWO Spin-Out of G3 Goldfields Complete G2 distributed 100% of G3 Shares to former G2 shareholders on a pro rata basis, 1 G3 Share for each 2 G2 shares held on the effective date of the Arrangement. Listing expected on CSE. G3 funded with C$45 million in cash + contingent https://bit.ly/44SQm9o</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082789264316617044">Jul 30, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082789264316617044<br> July 30, 2026 at 01:23PM<br>

44. $GTWO Spin-Out of G3 Goldfields Complete G2 distributed 100% of G3 Shares to former G2 shareholders on a pro rata basis, 1 G3 Share for each 2 G2 shares held on the effective date of the Arrangement. Listing expected on CSE, $GTRE.CN G3 funded with C$45 million in cash + https://bit.ly/4fNoc4N

    Thu, 30 Jul 2026 11:30:23 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">$GTWO Spin-Out of G3 Goldfields Complete G2 distributed 100% of G3 Shares to former G2 shareholders on a pro rata basis, 1 G3 Share for each 2 G2 shares held on the effective date of the Arrangement. Listing expected on CSE, $GTRE.CN G3 funded with C$45 million in cash + https://bit.ly/4fNoc4N</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082790249835418004">Jul 30, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082790249835418004<br> July 30, 2026 at 01:27PM<br>

45. @YellowLabLife @moneyofminepod @TRAVmoneyofmine @JDmoneyofmine The next one? I think he means this one…

    Thu, 30 Jul 2026 13:05:41 -0000

    <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">@YellowLabLife @moneyofminepod @TRAVmoneyofmine @JDmoneyofmine The next one? I think he means this one…</p> &mdash; MasterMetals (@MasterMetals) <a href="https://twitter.com/MasterMetals/status/2082814588949610879">Jul 30, 2026</a> </blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> <br> from <a href="https://twitter.com/MasterMetals">MasterMetals</a><br> https://twitter.com/MasterMetals/status/2082814588949610879<br> July 30, 2026 at 03:04PM<br>