54 min listen
Gold has a solid year, and Agnico Eagle makes a surprise nickel investment
Gold has a solid year, and Agnico Eagle makes a surprise nickel investment
ratings:
Length:
2 minutes
Released:
Dec 29, 2023
Format:
Podcast episode
Description
Gold has had a solid year, overcoming the Fed's higher interest rate regime, noted mining audiences manager Michael McCrae. On Friday McCrae recorded Kitco Roundtable. Spot gold managed to finish the final trading day of 2023 in the 2060 range, up about $200 from the start of the year. In mining news top ten gold miner, Agnico Eagle (NYSE: AEM), announced today it was investing $23.12 million in Canada Nickel Company (TSXV: CNC). Agnico will own about 12% of the Ontario-focused, early-stage nickel company.
Released:
Dec 29, 2023
Format:
Podcast episode
Titles in the series (100)
Why elevated gold prices are leading to consolidation: After acquiring TMAC Resources, Agnico Eagle (TSE:AEM) still intends to keep its exploration budget elevated. On Friday CEO Sean Boyd recorded Kitco Roundtable podcast with correspondent Paul Harris and mining audiences manager Michael McCrae. Agnico Eagle operates Canadian Malartic, the nation's largest gold mine. The company is a top ten gold producer, having produced 1.7 million ounces in 2019. Agnico gave the sector a huge boost of confidence with the big M&A deal announced at the start of the year, the $286 million acquisition of TMAC Resources. Boyd said the deal was closed on its ability to generate net free cash flow. by Kitco NEWS Roundtable