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Significant Assay Widths And Grades Outside Never Never Resource Envelope
Further visible gold from deep mineralised intercept well over 100m below the current resource
Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report the latest assay results received from ongoing resource and exploration drilling at the Dalgaranga Gold Project in Western Australia.
Key Points:
- Analysis of pre-collar RC chips from deeper Diamond Tail drillholes targeting Never Never at depth continues to return anomalous assays from a new shallow “hangingwall” position further west of the Never Never Gold Deposit.
- DGRC1183 (RC Pre-collar) returned the following assays in a new location;
- 10.0m @ 12.15g/t gold from 237.0m, including 6.0m @ 19.53g/t (DGRC1183-PC)
- This result follows on from DGRC1187-PC which returned 4m @ 24.46g/t gold from 160m downhole in the same new prospect area (reported 16 May 2023)
- 10.0m @ 12.15g/t gold from 237.0m, including 6.0m @ 19.53g/t (DGRC1183-PC)
- Deeper infill. DGRC1185-DT has intercepted;
- 17.4m @ 12.28g/t gold from 488.16m, including 3.97m @ 18.88g/t, infilling the untested area up-plunge from DGRC1183-DT (previously reported) and well below the current resource envelope.
- 17.4m @ 12.28g/t gold from 488.16m, including 3.97m @ 18.88g/t, infilling the untested area up-plunge from DGRC1183-DT (previously reported) and well below the current resource envelope.
- DGDH033 testing the lowest point of Unclassified material (unreported) from the current Never Never MRE has returned good confirmatory widths and grades in this area;
- 13.0m @ 11.35g/t gold from 403.0m, including 5.94m @ 21.99g/t (DGDH033)
- 13.0m @ 11.35g/t gold from 403.0m, including 5.94m @ 21.99g/t (DGDH033)
- DGRC1194-DT testing beyond the edges of the deeper southern portion of the current MRE returned;
- 10.0m @ 7.50g/t gold from 355.0m, including 3.0m @ 11.93g/t (DGRC1194-DT)
- 10.0m @ 7.50g/t gold from 355.0m, including 3.0m @ 11.93g/t (DGRC1194-DT)
- DGRC1210 has intercepted mineralisation 80m further south of the current MRE envelope and down dip of the footwall Gilbey’s stratigraphic sequence.
- 7.0m @ 6.77g/t gold from 318.0m, including 3.0m @ 13.35g/t (DGRC1210)
- 7.0m @ 6.77g/t gold from 318.0m, including 3.0m @ 13.35g/t (DGRC1210)
- New deep mineralised intercept. DGRC1204-DT intercepted ~24m of strong Never Never- style mineralisation from 445.7m downhole, including visible gold at 453m downhole. Assays pending.
Gascoyne Managing Director and Chief Executive Officer, Simon Lawson, said: “This round of assays is targeting and testing the extremities of the Never Never Gold Deposit system. We are looking to ascertain where the edges of this new system are for the upcoming MRE update.
We have another deep mineralised intercept with visible gold well below the current resource in DGRC1204-DT, with significant infill results within the deeper part of our upcoming resource update in DGRC1185-DT, there continues to be good widths and grades outside the resource to the south in DGRC1210 and at depth in DGDH033 and DGRC1194-DT illustrating that this mineralised system appears to be improving with depth, and to top that another solid high-grade hit, 10m @ 12g/t gold in the pre-collar of DGRC1183-DT. The deepest drill-hole assayed so far at Never Never returned an incredible 29m @ 11.09g/t gold from over 400m downhole and now we get 10m @ 12g/t from 237m in the same hole.!
To add to the growing high-grade Never Never system and the nearby high-grade prospects being discovered, the Company is drilling the deepest hole yet into Never Never targeting 550-600 metres down-plunge to test the depth extension. The Company is also drilling several high-priority high-grade targets in the near vicinity of Never Never and will provide an update as that work progresses. The exploration team is not resting on the Never Never discovery, but looking to take what has been learned and test other high-grade opportunities in and around the Dalgaranga mill as quickly as possible.”
Never Never is a new high-grade gold deposit which strikes and plunges to the west-south-west. The deposit was discovered while following up wide, high-grade drill intercepts from the earlier Gilbey’s North extension discovery immediately north of the Gilbey’s open pit at Dalgaranga. Due to the high-grade and apparent scale of Never Never, this deposit now represents the foundation of the Company’s new operating and growth plan.
Never Never is distinct from the Gilbey’s North discovery due to considerable differences in tenor, thickness of mineralisation, mineralogy, scale, orientation and host structure/rock-type. Despite these differences, due to the close spatial association of the two deposits, the Never Never and Gilbey’s North deposits are collectively known as the “Never Never Gold Deposit”.
Never Never is much higher grade than any of the previously defined ore bodies at Dalgaranga and appears to be far more structural, fold and/or shear-hosted as opposed to the more stratigraphic/shale- associated historically defined Gilbey’s series of gold deposits.
On 23 January 2023 Gascoyne released an updated Never Never Gold Deposit Mineral Resource Estimate of 303,100 ounces @ 4.64g/t gold (comprising 1.0Mt @ 2.45g/t for 86,500oz Au “Open Pit” (>0.5g/t Au) and 0.93Mt @ 7.22g/t for 216,600oz Au “Underground” (>2.0g/t Au)).
Figure 1: Long-section of the Never Never Gold Deposit with current resource estimation blocks (coloured by block grade).
Please Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Click here for the full ASX Release
This article includes content from Gascoyne Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Appendix 5B Cash Flow Report
Magnetic Resources NL (Magnetic or the Company) has released its Quarterly Cash Flow Report.
Click here for the full ASX Release
This article includes content from Magnetic Resources NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Quarter Ended 31 March 2024
HIGHLIGHTS
Prefeasibility Study( PFS) announced 7 March 2024 show a technically and financially robust project:
- Confirms a financially attractive standalone project with low cost, high margin gold production of 720,000oz, averaging 87,000oz/year, over a 9-year Life of Mine (LOM).
- Payback period of 15 months from commencement of production.
- IRR of 85% at A$2,800/oz, increasing to 108% at A$3,100/oz.
- Total EBITDAofA$982Mat A$2,800/oz, increasing to $1,191M at $3,100/oz.
- Life of mine average C1 (operating) cost of A$1,434/oz and AISC of A$1,445/oz, including sustaining capital of $8M.
- Pre-tax NPV8 of $547M at A$2,800/oz, increasing to $690M at A$3,100/oz.
- The gold price has jumped to over $3600/oz which will increase the outstanding economics even further.
Upgraded Mineral Resources Estimate 4 March 2024 for the project area of:
- 24.9Mt @ 1.66g/t Au totalling 1.33Moz of gold at 0.5g/t cutoff.
- Increase of 7.7% in contained gold over the 24 November 2023 ASX Release.
- LJN4 contains 15.4Mt at 1.92g/t and the contained gold has risen 11% from 852,000oz to 948,200oz.
- Ongoing extension drilling continues at LJN4 with 12 diamond holes for 4900m, which is expected to result in further resource increases as the northern and southern parts are still open downdip.
- MLRCD826: 29.5m at 2.81 g/t from 270.5m
- MLJRCD828: 16m at 2.44g/t from 272m.
- MLJRCD829: 17m at 2.31g/t from 287m.
- Front end engineering for the processing plant with a view to ordering long lead items by early 2025.
- Resource definition drilling to boost confidence in the early production years.
- Preparation of a Mining Proposal/Mine Closure Plan for DMIRS approval.
- A resource update and enhanced mine plan following recent drilling results.
- Further metallurgical testwork aimed specifically at larger sample sizes and deeper ore.
- Power supply options.
- Camp delivery options.
- Water supply options.
Click here for the full ASX Release
This article includes content from Magnetic Resources NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Research & Development Funding for Enhancement of Silver Production at Wonawinta
Manuka Resources Limited (ASX: MKR) (“Manuka” or the “Company”) is pleased to announce it has received A$1.07M under the Australian Government’s R&D tax incentive scheme for a successful process improvement program undertaken by the Company to enhance Silver production at the Wonawinta Silver Mine.
Highlights
- Between October 2022 and February 2023, the Company undertook a limited trial campaign of silver production at its 100% owned Wonawinta Mine.
- During the trial period, the Company completed a series of modifications and innovations to the Wonawinta processing facility including the introduction of a deslime circuit to remove deleterious fine clays from the ore and increase feed grade into the CIL circuit.
- Metallurgical test work, confirmed by production data, saw an uplift in Ag feed grades to the leach circuit by up to 100%. Higher grades and lower clays increased Ag loadings onto carbon.
- The Company has received a rebate of A$1.07M in relation to the trial production program under the Government’s R&D tax incentive scheme.
- The Company is currently focused on the commencement of gold production at its 100% owned Mt Boppy Gold Mine by Q4 2024. The Mt Boppy Mine is located 150km north of Wonawinta.
- Cashflows from Mt Boppy will support the restart of the Wonawinta Mine as a dedicated silver operation in 2025.
- The Company is targeting the release of an updated Reserve Statement for Wonawinta in May 2024.
Dennis Karp, Manuka’s Executive Chairman, commented:
“Our trial silver production program at Wonawinta afforded Manuka the opportunity to observe and optimise performance of the processing plant, both from a throughput perspective, as well as aiding and increasing metallurgical recoveries. The improvements and innovations achieved were material, as we were able to increase throughput to an annualized >1.0Mt of material through the plant (from nameplate capacity of 850Ktpa), while also identifying changes to our metallurgical flowsheet. Furthermore the rationale behind the improvements has now been recognized.
We are confident that the changes implemented as a result of the trial will improve plant throughput and silver recovery, driving lower operating costs and ultimately stronger cashflows and more robust project economics.
We look forward to incorporating the results into our upcoming Reserve statement and production forecast for the Wonawinta silver mine.”
Click here for the full ASX Release
This article includes content from Manuka Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
5 Top Weekly TSXV Stocks: Timberline Gains 120 Percent on McEwen Mining Deal
The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 20.69 points last week to close at 567.02.
Statistics Canada released March consumer price index figures this past Tuesday (April 16), showing inflation was up 2.9 percent on a year-on-year basis, higher than the 2.8 percent year-on-year growth reported in February.
Gasoline prices, which were up 4.5 percent compared to the same period last year, were a significant factor in the gain. Additional pressure came from rising shelter costs due to mortgage and rental increases.
Core inflation less gas prices saw a slight decline from February’s numbers, dropping to 2.8 percent from 2.9 percent. This fueled expectations that the Bank of Canada could announce a cut to interest rates when it meets next in June.
Also on Tuesday, the Canadian government released its 2024 budget, which includes support for housing and new Pharmacare programs. Deputy Prime Minister and Minister of Finance Chrystia Freeland also announced proposed changes to the country's capital gains tax. They would see approximately 0.13 percent of Canadians and 12 percent of Canadian businesses pay taxes on a larger portion of their capital gains once the changes come into effect on June 24.
In a press release shared on Tuesday, the Mining Association of Canada discussed the budget items that will impact the nation's mining sector, including an extension to the clean technology manufacturing investment tax credit, and a new target of five years or less to complete federal impact assessments and permits. The association also noted that changes to the capital gains rules could have a negative impact on exploration financing.
Against that backdrop, which TSXV-listed mining stocks performed the best last week? Here are the top five gainers.
1. Timberline Resources (TSXV:TBR)
Weekly gain: 123.08 percent; market cap: C$26.06 million; current share price: C$0.145
Timberline Resources is a gold exploration company with a portfolio of projects in Central Nevada, US.
The company's flagship Eureka property features several targets that have hosted historic gold production, including the Lookout Mountain gold-silver deposit. An updated resource estimate released in November 2023 shows that Lookout Mountain has a measured and indicated resource of 423,000 ounces of gold from 25.82 million metric tons (MT) of ore at an average grade of 0.017 ounces per MT. Timberline also holds the Seven Troughs property and the Paiute property, the latter of which is a 75/25 joint venture with Barrick Gold (TSX:ABX,NYSE:GOLD) subsidiary Nevada Gold Mines.
Shares of Timberline saw significant gains this past Tuesday, when the company entered into a definitive agreement and plan of merger with McEwen Mining (TSX:MUX,NYSE:MUX), which is led by mining industry figure Rob McEwn. Under the deal, Timberline will merge with a McEwen subsidiary and continue to exist as a subsidiary of McEwen. Timberline shareholders receive 0.01 of a share of McEwen's common stock for each share they own of Timberline.
2. Power Nickel (TSXV:PNPN)
Weekly gain: 50 percent; market cap: C$44.15 million; current share price: C$0.375
Power Nickel is a nickel exploration company that is currently focused on the development of its Nisk nickel-copper project in the Eeyou Istchee James Bay region of Québec, Canada.
The project is comprised of 90 mineral claims covering an area of 4,589 hectares, and has seen significant exploration from 2021 to 2024. Power Nickel released an initial resource estimate for Nisk in November 2023, and it outlines an indicated resource of 5.43 million MT at a weighted average grade of 1.05 percent nickel equivalent. The inferred resource stands at 1.79 million MT grading 1.35 percent nickel equivalent. The company used a nickel equivalent cut-off grade of 0.2 percent for inside the open pit and 0.55 percent for the underground portion of the deposit.
Shares of Power Nickel rose this past Monday (April 15) when the firm announced significant initial assay results from its Lion copper-platinum-palladium target, located 5 kilometers north of the main deposit at Nisk.
The company highlighted results including a 0.6 meter interval grading 24.3 grams per MT (g/t) gold, 5.7 g/t silver, 5.29 percent copper, 3.26 g/t palladium, 0.29 g/t platinum and 3.31 percent nickel.
3. ArcWest Exploration (TSXV:AWX)
Weekly gain: 47.37 percent; market cap: C$11.2 million; current share price: C$0.14
ArcWest Exploration is an exploration company that has most recently been working to advance its Todd Creek property within the Golden Triangle in BC, Canada. The project is a 32,000 hectare site that adjoins Newmont’s (TSX:NGT,NYSE:NEM) Brucejack mine. The site hosts widespread copper and gold mineralization.
The latest news from the project came on March 4, when ArcWest announced results from a 2023 exploration program that was funded by a C$2.8 million earn-in agreement with Freeport-McMoRan (NYSE:FCX). Highlighted results from the program yielded rock samples with grades up to 262 g/t gold and 2.46 percent copper from the Ice Creek zone, and 1.15 g/t gold, 0.76 percent copper and 80 parts per million molybdenum from the Fall Creek zone.
The company has not released further updates in 2024.
4. Amarc Resources (TSXV:AHR)
Weekly gain: 41.67 percent; market cap: C$31.76 million; current share price: C$0.17
Amarc Resources is a copper and gold exploration company with projects located throughout BC.
Its primary focus has been advancing its district-scale Duke project, a 678 square kilometer land package in Central BC within a region that hosted Noranda's past-producing Bell and Granisle mines.
Amarc’s share price saw gains following a news release this past Tuesday announcing the discovery of the new Jo porphyry copper and gold target at Duke. Rock chips taken from the company’s 2023 exploration program include grades of 0.18 percent copper, 0.52 g/t gold, 16.05 g/t silver and 55 parts per million molybdenum. The company said it will undertake a reconnaissance drill program during its 2024 summer season.
5. PJX Resources (TSXV:PJX)
Weekly gain: 40 percent; market cap: C$43.22 million; current share price: C$0.28
PJX Resources is a polymetallic exploration company that has most recently been focused on the advancement of its Dewdney Trail property, located northeast of Cranbrook, BC. The 16,000 hectare site hosts three target areas: Estella Basin, Lewis Ridge and Tackle Basin. Through rock sampling and limited drilling at the targets, the company has identified potential mineralized areas that it says are similar to the nearby Sullivan mine.
Its latest exploration results came on January 15, when rock samples returned grades of 5.57 percent zinc, 0.94 percent lead and 4.41 g/t silver from an outcrop at Dewdney Trail. According to PJX, the next steps will be to drill for size and grade potential, which it will begin when the snow melts and its permits are updated.
This past Wednesday (April 17), PJX closed a C$3.6 million private placement. The company said it will use the proceeds for expenditures on its properties located in Cranbrook and for general working capital.
FAQs for TSXV stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many companies are listed on the TSXV?
As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on April 19, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Successful Completion of Placement & Institutional Entitlement Offer as Part of A$80M Equity Raising
Spartan Resources Limited (Spartan or Company) (ASX:SPR) is pleased to announce that the Company has successfully completed an institutional placement (Placement) and the institutional component of a 1-for-17 fully underwritten pro rata accelerated non-renounceable entitlement offer (Institutional Entitlement Offer, together with the Placement the Institutional Offer) of new fully paid ordinary shares in Spartan (New Shares).
Highlights
- Strong demand received from both eligible existing and new institutional investors in Australia and internationally for Spartan’s A$80m equity raising (Equity Raising) comprising a:
- A$69m Placement and Institutional Entitlement Offer (Institutional Offer) completed; and
- A$11m fully underwritten Retail Entitlement Offer to existing, eligible retail shareholders opens on Friday, 26 April 2024, and is expected to close at 7.00pm (Sydney time) Friday, 10 May 2024.
- Proceeds from the Equity Raising will be used to underpin a significantly expanded exploration campaign at the Dalgaranga Gold Project in 2024/25, including:
- The development of an underground exploration decline, which is scheduled to commence in the second half of 2024;
- An extensive 65,000m drill program targeting Never Never, Pepper and the broader Gilbey’s Complex including “look-alike” targets (Sly Fox, Four Pillars, West Wings); and
- Site infrastructure early works, general working capital, care and maintenance, tenement commitments and corporate and transaction costs.
- Alongside, the Equity Raising, the Joint Lead Managers facilitated the sell-down of approximately 57 million Spartan shares (worth approximately A$33 million) representing the full amount of shares that were previously held by NRW Holdings Limited (NRW Selldown):
- The NRW Selldown shares were placed to institutional investors and will settle with the Institutional Offer.
- Spartan is well-funded with a pro-forma cash position of A$110 million on completion of the Equity Raising1.
Spartan Managing Director and Chief Executive Officer, Simon Lawson, said:
“The outstanding response to this capital raise from leading domestic and international resource investors reflects the quality of the high-grade discoveries we have made at Dalgaranga over the past 18 months, the strength of the team we have put together, and the exciting growth pathway ahead of us.
“We are pleased to welcome a number of new institutional shareholders to the register as part of this capital raise and I would like to take this opportunity also to thank existing shareholders for their support.
“We also acknowledge the support of NRW Holdings through the Company’s restructure and recapitalisation.
“This raising puts Spartan in an exceptional position to deliver on the huge potential of the Never Never discovery and our other recent exploration successes at Dalgaranga, with a very strong balance sheet to unlock the full value of what we have already discovered and take this company to the next level as a mid-tier gold developer and ultimately producer.”
Click here for the full ASX Release
This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Top Stories This Week: Gold Price Stays Strong, Trudeau Takes Heat on Capital Gains Tax
The gold price ended last week with a bang, breaking through US$2,400 per ounce for the first time ever.
Although it retreated below that level this week, the yellow metal remains historically high.
I've asked a number of experts about what's behind gold's big move, and while their opinions differ on the specifics, they all agree that it still has plenty of room to run. Jordan Roy-Byrne, CMT, MFTA, of the Daily Gold may have put it best — he said that we're reaching the point where hyperbolic statements about the gold price can actually come true.
Of course, gold stocks continue to underperform compared to the metal itself, partially due to a lack of investor interest. And this week brought news that may further dampen participation in the sector, at least in Canada.
Released on Tuesday (April 16), the federal government's 2024 budget proposes an increase in the capital gains inclusion rate — it would boost taxation on capital gains of over C$250,000 from one-half to two-thirds, meaning corporations, trusts and individuals that receive over C$250,000 in capital gains in a year will be taxed on two-thirds of their earnings.
Various mining industry groups have weighed in on the change, explaining how it's likely to create headwinds in Canada's resource sector, especially for exploration-stage companies working to advance projects.
"Such an increase (to the capital gains inclusion rate) will reduce the amount of available capital for junior exploration and development companies and create major headwinds for investment into Canadian industry more broadly," the Prospectors & Developers Association of Canada said in a statement released on Wednesday (April 17).
For its part, the Mining Association of Canada welcomed the proposed new threshold for the Clean Technology Manufacturing Investment Tax Credit, but said changes to the capital gains tax could hurt exploration financing.
The Canadian government has said only 0.13 percent of Canadians are expected to pay more in personal income tax on their capital gains. Conservative and Bloc Québécois leaders have already said they won't vote in favor of the budget; it remains to be seen whether the NDP will side with Prime Minister Justin Trudeau's Liberals..
Bullet briefing — Arrests made in gold heist, another deficit for silver
Toronto airport gold heist culprits arrested
Police have laid charges and made arrests in connection with what's being described as Canada's largest gold heist.
The news comes a full year after thieves stole $22.5 million worth of gold and other valuables from Toronto's Pearson International Airport. In total, 6,600 gold bars weighing 400 kilograms were taken.
In an Wednesday press conference, law enforcement said two Air Canada (TSX:AC,OTCQX:ACDF) employees helped pull off the heist, and noted that the investigation also uncovered a "large quantity of firearms" headed for Canada.
"This story is a sensational one, and one which probably, we jokingly say, belongs in a Netflix series" — Nishan Duraiappah, Peel Regional Police
Warrants are still out for a number of people connected to the incident, and most of the stolen goods haven't been found.
Silver market records third consecutive deficit
The Silver Institute released its latest report on the white metal, saying that industrial demand rose 11 percent year-on-year to hit a record 654.4 million ounces in 2023. The increase was driven green economy applications.
According to the organization, overall demand exceeded supply last year, creating a deficit of 184.3 million ounces. Last year's deficit was the third in a row for silver, and the Silver Institute is calling for a fourth in 2024 — it's projecting a shortfall of 215.3 million ounces, which would be the second largest in over 20 years.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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