Top Stories for Jan. 24, 2024:
GoldMining Inc. (GLDG) reported positive results from its 2023 drilling program at Alaska’s Whistler Gold-Copper Project, executed by its subsidiary U.S. GoldMining Inc.
The highlight of the program was the confirmation of a high-grade gold and copper core near the surface. The most notable drill result revealed 547 meters at 1.06 grams per ton gold equivalent, indicating potential for further exploration and expansion.
The company plans more drilling in 2024 to further explore the depth of the Whistler Deposit and is financially well positioned, holding approximately $129 million in cash and investments, including an 80% interest in U.S. GoldMining.
Additionally, rising uranium prices have positively impacted the prospects of its Rea uranium project in Canada.
Idaho Strategic Resources Inc. (IDR) announced that its CEO and President John Swallow was invited to the Future Innovation Needs for Responsible Mining of Critical Minerals workshop by the U.S. Department of Energy, taking place on Jan. 25.
The Department of Energy and the Office of Fossil Energy and Carbon Management selected participants to meet and discuss how to re-establish critical minerals independence in the U.S.
The workshop will gather information from government research programs to explore new technologies and strategies for resource exploration, discovery, appraisal, mining, and processing.
Swallow expressed anticipation for the upcoming workshop, emphasizing the need for open discussion and collaboration, likening it to a modern-day (and somewhat less consequential) version of the Manhattan Project.
He also highlighted Idaho Strategic’s role in addressing the U.S.’s rare earth elements demand, expressing a determination to work towards a real solution.
Freeport-McMoRan Inc. (FCX) reported fourth quarter and full-year results for 2023.
The company exceeded its October 2023 estimates in copper sales volumes and managed to keep unit net cash costs lower than expected and lower than in Q4 2022.
Net income for Q4 2023 was $388 million, equating to 27 cents per share, while adjusted net income, excluding net charges, was $393 million (also 27 cents per share).
In Q4 2023, the company produced 1.1 billion pounds of copper, 573 thousand ounces of gold, and 20 million pounds of molybdenum. For the entire year, the production was 4.2 billion pounds of copper, 2.0 million ounces of gold, and 82 million pounds of molybdenum. Sales figures closely matched these production numbers.
Now Read: Microsoft Races To The Top, Hits $3-Trillion Valuation, Challenges Apple’s Throne
Photo: Shutterstock
