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Precious Metals

Freeman Gold Sees Recovery Rates As High As 98% In Metallurgical Tests

Freeman Gold (CSE: FMAN) continues to progress its Lemhi Gold project in Idaho towards an operating mine…

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This article was originally published by The Deep Dive

Freeman Gold (CSE: FMAN) continues to progress its Lemhi Gold project in Idaho towards an operating mine. The firm this morning reported initial results from metallurgical testing conducted on drill core material collected at the property.

 

The initial testing has demonstrated recovery rates beyond 95% for the property, with testing conducted on a wide range of head grades. Cyanide leaching had the best response for the material, with gold recoveries coming in as high as 98% 36 hours after application.

Results from the program are a significant improvement over company expectations, with historical testing on the property returning recovery rates of 70% on average. Work will continue to be conducted by the company on improving recovery rates beyond the current 95% to 98% rates being exhibited as the company works towards a preliminary economic assessment of the property.

“The leach response at Lemhi has consistently, over a wide spatial area and grade range of the resource, provided gold recoveries in the mid to upper 90% range. The initial metallurgical response is very encouraging and strongly supports continued studies to advance the property into a preliminary economic assessment,” commented Frank Wright, an independent consultant conducting metallurgy on the property.

Freeman Gold last traded at $0.345 on the CSE.


FULL DISCLOSURE: Freeman is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Freeman Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

The post Freeman Gold Sees Recovery Rates As High As 98% In Metallurgical Tests appeared first on the deep dive.

Precious Metals

Bitcoin Is Going To $500,000 and the Rationale Is Simple

While our year-end price target for Bitcoin is $100,000, we believe that Bitcoin prices will soar much, much higher in the long run – like 5X higher….

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…While our year-end price target for Bitcoin is $100,000, we believe that Bitcoin prices will soar much, much higher in the long run – like 5X higher. That’s right, we think Bitcoin is going to $500,000 and the rationale…is simple.

Bitcoin, in its most fundamental form, is the digital version of gold. The gold market is an $11 trillion market. If Bitcoin gets that big, you’re talking an $11 trillion market on 21 million tokens, which implies a price per token of about $500,000.

Of course, that back-of-the-envelope math rests on the huge assumption that Bitcoin is, indeed, the digital version of gold but it looks like that may already be the case. Just take a look at the chart below. The blue line tracks Bitcoin prices. The purple line tracks the 10-year Treasury yield, which is widely seen as the market’s dynamic proxy for inflation and the green line tracks the price of gold.

The blue and purple lines correlate strongly to one another but the green line doesn’t correlate to either…[and,] to us, it means that the market has already confirmed Bitcoin as the digital version of gold – and, indeed, as a superior version of gold.

Long story short, as inflation expectations rise, investors sell bonds, and the 10-year Treasury yield rises, too. To protect against that inflation, investors typically buy gold as a store of value, but this year, instead of buying gold, they’re buying Bitcoin.

Conclusion

Bitcoin has become the go-to hedge against inflation in 2021 – not gold… Fundamentally speaking, Bitcoin is better than gold.

Editor’s Note:  The original post by Luke Lango has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read.  The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.  Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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Economics

US stocks close flat after inflation data

Benchmark US indices closed flat on Wednesday October 13 after government data showed inflation rose in September increasing the possibility of stimulus…

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Benchmark US indices closed flat on Wednesday, October 13, after government data showed inflation rose in September, increasing the possibility of stimulus tapering sooner than expected.

The S&P 500 was up 0.30% to 4,363.80. The Dow Jones stayed flat at 34,377.81. The NASDAQ Composite Index rose 0.73% to 14,571.64, and the small-cap Russell 2000 rose 0.34% to 2,241.97.

The US consumer price index rose by 0.4% in September after rising by 0.3% in August. On an annual basis, CPI jumped 5.4% through September, while Core CPI rose 0.2% in September. Food prices rose 0.9% MoM in September, the Labor Department data showed on Wednesday.

Meanwhile, Atlanta Fed President Raphael Bostic has expressed concern over rising inflation. His comments come after the Fed released its minutes from its September meeting that supported withdrawing stimulus by mid-November or mid-December.

Basic materials, technology, and utility stocks led gains on the S&P 500 index on Wednesday. Nine of the 11 index segments stayed in the green. Financial and energy stocks were the bottom movers.

JPMorgan Chase & Co. (JPM) stock declined 2.60% after reporting better-than-expected quarterly profits. Its revenue rose 1% YoY to US$29.64 billion in Q3, FY21, while its net income was up 24% YoY to US$11.68 billion, or US$3.74 per diluted share.

Stocks of BlackRock, Inc. (BLK) rose 3.87% after reporting quarterly results before the opening bell. Its revenue ticked up 16% YoY to US$5.05 billion in Q3, FY21, and its net income came in at US$1.68 billion, or US$10.89 per diluted share, beating analysts’ expectation of US$9.35 per diluted share.

Delta Air Lines, Inc. (DAL) stocks tumbled 5.82% after reporting quarterly results marred by rising fuel costs. Its operating revenue fell by 27% YoY to US$9.15 billion in the quarter ended September 30, while its net income declined by 19% YoY to US$1.21 billion, or US$1.89 per diluted share.

In the basic materials sector, Linde PLC (LIN) rose 1.81%, Air Products and Chemicals, Inc. (APD) rose 2.32%, and Freeport-McMoran, Inc. (FCX) gained 4.22%. Newmont Corporation (NEM) and PPG Industries, Inc. (PPG) ticked up 3.31% and 0.90%, respectively.

In utility stocks, NextEra Energy, Inc. (NEE) gained 1.14%, Exelon Corporation (EXC) gained 1.17%, and DBA Sempra (SRE) rose 1.42%. Xcel Energy Inc. (XEL) and Edison International (EIX) advanced 1.62% and 1.31%, respectively.

In financial stock, Bank of America Corporation (BAC) fell 1.06%, Wells Fargo & Company (WFC) declined 1.16%, and Charles Schwab Corporation (SCHW) fell 1.46%. American Express Company (AXP) and Capital One Financial Corporation (COF) fell 3.44% and 3.25%, respectively.

Also Read:  Earnings update: Infosys revenue up 20%, Wipro net income jumps 18%

Also Read: Q3 Earnings Snapshot: Pinnacle’s (PNFP) net income jumps to US$136.5 Mn

Nine of the 11 S&P 500 index segments stayed in the green.

Also Read: Plug Power (PLUG) stock pops on rating boost, FuelCell (FCEL) up 2%

Futures & Commodities

Gold futures were up 1.97% to US$1,793.90 per ounce. Silver increased by 2.64% to US$23.108 per ounce, while copper rose 3.80% to US$4.4900.

Brent oil futures increased by 0.01% to US$83.35 per barrel and WTI crude was down 0.06% to US$80.59.

Bond Market

The 30-year Treasury bond yields was down 3.56% to 2.030, while the 10-year bond yields declined 2.63% to 1.538.

US Dollar Futures Index decreased by 0.54% to US$94.013.

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Articles

Mining Penny Stocks Shot Up Today, Here’s 4 to Watch

Mining penny stocks are heating up right now, here’s four you need to know
The post Mining Penny Stocks Shot Up Today, Here’s 4 to Watch appeared first…

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4 Mining Penny Stocks For Your Mid-October Watchlist 

In the past few days, mining penny stocks and specifically precious metals penny stocks, have been climbing substantially. Usually, when investors talk about precious metals stocks, the main discussion is surrounding those in the gold mining industry. And right now, gold stocks are seeing a great deal of hype. There are a few reasons for this that are worth exploring. For one, right now there is a large amount of inflation occurring in the U.S. 

[Read More] Hot Penny Stocks Under $1 To Watch Before Next Week

With the price of consumer goods rising substantially in the last year and a half, many investors have turned toward more stable penny stocks. This includes mining stocks and other securities that tend to fluctuate less than others. 

In addition to this, if we look at gold, we see that it is historically a safeguard asset. This means that investors turn to it in times of economic turmoil. So, if we consider all of this, the rise of gold stocks begins to make more sense. With all of that in mind, here are four mining penny stocks to watch right now. 

4 Mining Penny Stocks to Watch in October 2021 

  1. IAMGOLD Corp. (NYSE: IAG
  2. Harmony Gold Mining Company Limited (NYSE: HMY
  3. Yamana Gold Inc. (NYSE: AUY
  4. New Gold Inc. (NYSE: NGD

IAMGOLD Corporation (NYSE: IAG)

IAMGOLD Corporation is gold mining stock that managed to climb by roughly 3.2% on October 13th and in the past five days by over 12.8%. This is a company that develops and operates a variety of gold mining properties. The company is involved in the exploration and development of gold, silver, and copper mines. Currently, it owns an interest in the Rosebel mine, Westwood mine, Pitangui project, and more.

Early in August, the company revealed its financial results for the second quarter of this year. For IAMGOLD, which is still recovering from the pandemic and economic troubles of the previous year and a half, the numbers were less than stellar. Revenue for IAMGOLD fell quarter over quarter and year over year alongside lower gross profit and adjusted EBITDA. While it did report a net loss, it does look like gold demand is rising alongside inflation and overall economic concerns.

Despite these negative results, IAG stock has been climbing in the market. Do you believe that the company could make a comeback in the market? Well, IAMGOLD recently announced its third-quarter results release date. These results will be available after the market closes on Wednesday, November 3rd, 2021. This is the next key date to look out for if you plan on buying IAG stock. For now, will IAG be on your list of penny stocks to watch?

Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited is another gold exploration, extraction, and processing company that climbed on October 13th. Some of the locations it mines in include South Africa and Papua New Guinea. In addition to gold, Harmony Gold explores for reserves of uranium, silver, and copper. Because of how broad its mining operations extend, many investors continue to show interest in Harmony Gold. It’s worth noting that it actively has nine underground operations in the Witwatersrand Basin.

[Read More] Top Penny Stocks to Watch? 3 Moving in Today’s Trading Session

In the company’s most recent update, its fiscal year 2021 earnings and revenue went up year over year. This has to do with increased metal prices and solid performance for the company. HMY stock often will move with the price of gold, silver, uranium, and copper themselves. The price of gold has the largest impact on Harmony, as that is the primary material that it searches for. In the last five days, shares of HMY stock have increased by around 13%, which is similar to IAG. With this in mind, will HMY be on your penny stock watchlist?

Penny_Stocks_to_Watch_Harmony_Gold_Mining_Company_Limited_HMY_Stock

Yamana Gold Inc. (NYSE: AUY)

Yamana Gold Inc. is next on the list of gold stocks that pushed up on October 13th. By EOD, shares of AUY stock had shot up by over 4%. If you’re not familiar, Yamana Gold is a company that produces precious metals in a variety of countries. Currently, Yamana produces both gold and silver at its properties. It currently has land positions, development-stage projects, and exploration projects located in Brazil, Canada, Chile, and Argentina.

As stated with the other gold stocks on this list, it’s worth keeping a close eye on the price of gold itself. We see that even if no company-specific news has come out, shares of AUY stock could fluctuate based on the changing price of gold. Right now, we are witnessing many investors turn to gold stocks as a way to hedge bets against inflation, and this could explain the recent gains for AUY stock.

In tandem with its bullish movement, the company’s volume is also slightly higher than its market average. Moving forward, the company plans on releasing its third-quarter financial results after the market closes on October 28th, 2021. Based on this info, will AUY be on your penny stock watchlist?

Penny_Stocks_to_Watch_Yamana_Gold_Inc._(AUY_Stock_Chart)

New Gold Inc. (NYSE: NGD)

New Gold Inc. is a mining corporation that develops and operates gold, silver, and copper resources. The company owns 100 percent of the Rainy River gold-silver mine in Ontario, Canada, and the New Afton gold-copper mine in British Columbia, Canada.

In mid-September, New Gold Inc. updated its fiscal 2021 operational outlook. At its Rainy River mine, New Gold aims to produce between 405,000 and 450,000 ounces of consolidated gold equivalent, down from 440,000-490,000 ounces before. The company’s guiding figures have decreased slightly as a result of this occurrence.

“While the reduction in our near-term guidance at Rainy River is unfortunate, I remain confident the mine has reached an inflection point, as evidenced by the free cash flow generated in the second quarter and the mine is on track to deliver an improved second half of the year.”

President and CEO of New Gold, Renaud Adams

With this new info in mind, will NGD stock be on your watchlist in October?

Penny_Stocks_to_Watch_New_Gold_Inc._(NGD_Stock_Chart)

Are Mining Penny Stocks Worth Buying or Not?

Mining penny stocks remain some of the hottest and most stable stocks to watch right now. While the future of the mining industry remains uncertain, right now, it could be worth keeping a close eye on.

[Read More] 3 Trending Penny Stocks For Your Small-Caps Watchlist Right Now

Considering that there are so many facets to look out for, understanding the ins and outs of the mining industry will help you to make money with penny stocks. With all of that in mind, do you think that mining penny stocks are worth buying or not?

The post Mining Penny Stocks Shot Up Today, Here’s 4 to Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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