Analysts Predict Gold Prices Could Rally to $3290 this Year January 29, 2025 - Baystreet.ca Gold could see another standout year with some analysts calling for it to rally to $3,290 this year. “This year’s forecast has seen bullish price forecasts submitted by analysts, who collectively expect gold to outperform 2024 with an average price of $2,736.69 – 14.7% higher than the average price for 2024 ($2,386.20), and just $51 lower than the record gold price for 2024 ($2,788.54 – AM auction, October 30). A wide forecast trading range, however, indicates analysts are expecting significant price volatility. Furthermore, no analyst has forecast an average price above $3,000, but 20 analysts see a high price of $3,000 or above,” says Kitco.com. That’s great news for gold stocks, such as Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), Freeport-McMoRan (NYSE: FCX), Centerra Gold (NYSE: CGAU) (TSX: GG), Barrick Gold (NYSE: GOLD) (TSX: ABX) and Newmont Corp. (NYSE: NEM) (TSX: NGT). Also, we have to consider that President Trump’s potential tariffs on China, Mexico and Canada are being seen as inflationary, which could force more investors into the safe haven of gold. In addition, “Geopolitical risks continue to bubble in various hot spots adding to inflationary risks and continued safe-haven demand for gold," said analyst Robin Bhar, as quoted by Reuters. Look at Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), For Example Troilus Gold Corp. recently announced a critical milestone in its permitting process, having begun the submission of its Environmental and Social Impact Assessment for the copper-gold Troilus Project in north-central Quebec. This marks an important step as the Company advances one of Canada’s largest undeveloped gold-copper deposits toward construction. Under an updated, more collaborative approach outlined by the Impact Assessment Agency of Canada and the Cree Nation Government, Troilus has been able to submit sections of its ESIA for review as they are completed, rather than waiting for the entire report to be finalized. This iterative process has already facilitated constructive engagement, with initial feedback and comments from the Agency being incorporated into the Company’s final submission. By addressing questions and resolving issues early in the process, this approach is expected to streamline the final permitting process and reduce back-and-forth once the complete ESIA is formally submitted. A Multi-Year Commitment to Stakeholder Engagement and Environmental Responsibility The ESIA represents the culmination of more than five years of work by Troilus, including extensive field studies and collaboration with stakeholders and local Indigenous communities. Highlights of these efforts include: · Public and private consultations with local communities, including the Cree Nation, to ensure alignment with regional priorities and cultural values. · Environmental baseline studies conducted to evaluate and mitigate potential impacts on local ecosystems. · Comprehensive social and economic studies to address the long-term benefits of the project for the region. The preparation of the ESIA has been conducted in partnership with leading environmental and engineering firms, BluMetric and Stantec, ensuring the report adheres to the highest environmental, social, and technical standards. Justin Reid, CEO of Troilus, commented, “The initiation of the ESIA submission process is a significant step forward for Troilus as we advance our project toward final permitting and development. The new iterative framework has allowed us to engage directly with regulators and stakeholders, resolving issues early and incorporating their feedback into the final report. This approach not only demonstrates our commitment to transparency and collaboration but also ensures that the final document is as robust and comprehensive as possible. We believe this collaborative approach will help streamline the permitting process and position Troilus for the successful and sustainable advancement of the Project.” As part of its continued commitment to responsible resource development, Troilus will maintain open communication with local communities and regulatory authorities throughout the ESIA process. The final ESIA submission is expected to be completed in Q2 2025. Other related developments from around the markets include: Freeport-McMoRan’s Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on February 3, 2025, to shareholders of record as of January 15, 2025. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX's performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX's financial results, cash requirements, global economic conditions and other factors it deems relevant. Centerra Gold reported its third quarter 2024 operating and financial results. President and CEO, Paul Tomory, commented, “Centerra continues to deliver consistent operating performance and is on track to meet our consolidated production and cost guidance for the year. We have benefited from margin expansion driven by stable cost performance in an elevated metal price environment. As planned, we have returned to strong free cash flow generation in the third quarter. Even after spending approximately $32 million on the restart of operations at the Thompson Creek mine, we grew our cash and cash equivalents to $604 million at the end of the third quarter. We increased our share buybacks in the third quarter to $12 million, and declared a quarterly dividend, delivering on our disciplined approach of returning capital to shareholders. Barrick Gold reaffirmed its commitment to Zambia’s economic growth, contributing over $3.7 billion since 2019. In 2024 alone, Lumwana’s operations contributed $887 million to the economy through royalties, taxes, salaries and procurement of goods and services, solidifying its position as one of the nation’s top five taxpayers. Copper production for 2024 was within guidance, supported by investments in operator training and an upgraded ultra-class fleet. Lumwana remains a leader in advancing local content, with 72% of the $906 million spent on goods and services in 2024 going to Zambian suppliers and contractors. This brings the total spend on local goods and services to $2.5 billion since 2019. The company’s Business Accelerator Programme is further building capacity, targeting 150 SMEs to support the upcoming Superpit expansion. Newmont Corp. announced that it has agreed to sell its Porcupine operation in Ontario, Canada to Discovery Silver Corp. for up to $425 million in total consideration. Upon closing the sale of the Porcupine operation and the previously announced transactions, Newmont will deliver up to $4.3 billion in total proceeds from non-core asset divestitures and investments. The transaction is expected to close in the first half of 2025, subject to certain conditions being satisfied.1 Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $425 million. “Today’s announcement represents a significant milestone for Newmont as we have agreed to sell the final non-core operation from our divestiture program. The sale is part of Newmont’s ongoing program to divest non-core assets as we make a strategic shift to focus on our Tier 1 assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer. “We have full confidence that Discovery’s leadership team will continue to operate Porcupine responsibly, leveraging their extensive experience and history in the area. Including the Porcupine divestiture, we expect to generate up to $4.3 billion in total proceeds from the announced sales of our high-quality non-core assets and investments, enabling us to further reduce debt and return capital to shareholders.” Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Troilus Gold Corp by Troilus Gold Corp. We own ZERO shares of Troilus Gold Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972[email protected]
Analysts Predict Gold Prices Could Rally to $3290 this Year January 29, 2025 - Baystreet.ca Gold could see another standout year with some analysts calling for it to rally to $3,290 this year. “This year’s forecast has seen bullish price forecasts submitted by analysts, who collectively expect gold to outperform 2024 with an average price of $2,736.69 – 14.7% higher than the average price for 2024 ($2,386.20), and just $51 lower than the record gold price for 2024 ($2,788.54 – AM auction, October 30). A wide forecast trading range, however, indicates analysts are expecting significant price volatility. Furthermore, no analyst has forecast an average price above $3,000, but 20 analysts see a high price of $3,000 or above,” says Kitco.com. That’s great news for gold stocks, such as Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), Freeport-McMoRan (NYSE: FCX), Centerra Gold (NYSE: CGAU) (TSX: GG), Barrick Gold (NYSE: GOLD) (TSX: ABX) and Newmont Corp. (NYSE: NEM) (TSX: NGT). Also, we have to consider that President Trump’s potential tariffs on China, Mexico and Canada are being seen as inflationary, which could force more investors into the safe haven of gold. In addition, “Geopolitical risks continue to bubble in various hot spots adding to inflationary risks and continued safe-haven demand for gold," said analyst Robin Bhar, as quoted by Reuters. Look at Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), For Example Troilus Gold Corp. recently announced a critical milestone in its permitting process, having begun the submission of its Environmental and Social Impact Assessment for the copper-gold Troilus Project in north-central Quebec. This marks an important step as the Company advances one of Canada’s largest undeveloped gold-copper deposits toward construction. Under an updated, more collaborative approach outlined by the Impact Assessment Agency of Canada and the Cree Nation Government, Troilus has been able to submit sections of its ESIA for review as they are completed, rather than waiting for the entire report to be finalized. This iterative process has already facilitated constructive engagement, with initial feedback and comments from the Agency being incorporated into the Company’s final submission. By addressing questions and resolving issues early in the process, this approach is expected to streamline the final permitting process and reduce back-and-forth once the complete ESIA is formally submitted. A Multi-Year Commitment to Stakeholder Engagement and Environmental Responsibility The ESIA represents the culmination of more than five years of work by Troilus, including extensive field studies and collaboration with stakeholders and local Indigenous communities. Highlights of these efforts include: · Public and private consultations with local communities, including the Cree Nation, to ensure alignment with regional priorities and cultural values. · Environmental baseline studies conducted to evaluate and mitigate potential impacts on local ecosystems. · Comprehensive social and economic studies to address the long-term benefits of the project for the region. The preparation of the ESIA has been conducted in partnership with leading environmental and engineering firms, BluMetric and Stantec, ensuring the report adheres to the highest environmental, social, and technical standards. Justin Reid, CEO of Troilus, commented, “The initiation of the ESIA submission process is a significant step forward for Troilus as we advance our project toward final permitting and development. The new iterative framework has allowed us to engage directly with regulators and stakeholders, resolving issues early and incorporating their feedback into the final report. This approach not only demonstrates our commitment to transparency and collaboration but also ensures that the final document is as robust and comprehensive as possible. We believe this collaborative approach will help streamline the permitting process and position Troilus for the successful and sustainable advancement of the Project.” As part of its continued commitment to responsible resource development, Troilus will maintain open communication with local communities and regulatory authorities throughout the ESIA process. The final ESIA submission is expected to be completed in Q2 2025. Other related developments from around the markets include: Freeport-McMoRan’s Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on February 3, 2025, to shareholders of record as of January 15, 2025. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX's performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX's financial results, cash requirements, global economic conditions and other factors it deems relevant. Centerra Gold reported its third quarter 2024 operating and financial results. President and CEO, Paul Tomory, commented, “Centerra continues to deliver consistent operating performance and is on track to meet our consolidated production and cost guidance for the year. We have benefited from margin expansion driven by stable cost performance in an elevated metal price environment. As planned, we have returned to strong free cash flow generation in the third quarter. Even after spending approximately $32 million on the restart of operations at the Thompson Creek mine, we grew our cash and cash equivalents to $604 million at the end of the third quarter. We increased our share buybacks in the third quarter to $12 million, and declared a quarterly dividend, delivering on our disciplined approach of returning capital to shareholders. Barrick Gold reaffirmed its commitment to Zambia’s economic growth, contributing over $3.7 billion since 2019. In 2024 alone, Lumwana’s operations contributed $887 million to the economy through royalties, taxes, salaries and procurement of goods and services, solidifying its position as one of the nation’s top five taxpayers. Copper production for 2024 was within guidance, supported by investments in operator training and an upgraded ultra-class fleet. Lumwana remains a leader in advancing local content, with 72% of the $906 million spent on goods and services in 2024 going to Zambian suppliers and contractors. This brings the total spend on local goods and services to $2.5 billion since 2019. The company’s Business Accelerator Programme is further building capacity, targeting 150 SMEs to support the upcoming Superpit expansion. Newmont Corp. announced that it has agreed to sell its Porcupine operation in Ontario, Canada to Discovery Silver Corp. for up to $425 million in total consideration. Upon closing the sale of the Porcupine operation and the previously announced transactions, Newmont will deliver up to $4.3 billion in total proceeds from non-core asset divestitures and investments. The transaction is expected to close in the first half of 2025, subject to certain conditions being satisfied.1 Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $425 million. “Today’s announcement represents a significant milestone for Newmont as we have agreed to sell the final non-core operation from our divestiture program. The sale is part of Newmont’s ongoing program to divest non-core assets as we make a strategic shift to focus on our Tier 1 assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer. “We have full confidence that Discovery’s leadership team will continue to operate Porcupine responsibly, leveraging their extensive experience and history in the area. Including the Porcupine divestiture, we expect to generate up to $4.3 billion in total proceeds from the announced sales of our high-quality non-core assets and investments, enabling us to further reduce debt and return capital to shareholders.” Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Troilus Gold Corp by Troilus Gold Corp. We own ZERO shares of Troilus Gold Corp. Please click here for disclaimer. Contact: Ty Hoffer Winning Media281.804.7972[email protected]