Independent research on the operators, capital cycles and jurisdictions moving global commodities, written without the sell-side gloss.
A tape at four-thousand-dollar gold rewards the operators who kept discipline through the last down-cycle, and tempts everyone else into the classic top-of-cycle mistakes.
Tolu Minerals is drilling and progressing a restart at the Tolukuma gold mine in Papua New Guinea. We assess brownfield restart economics against the jurisdiction's logistics and legacy risk.
“Copper projects have ten-to-fifteen-year lead times. Anything that was not permitted by 2023 is not going to materially help the balance sheet before the end of this decade.”
Tolu Minerals is drilling and progressing a restart at the Tolukuma gold mine in Papua New Guinea. We assess brownfield restart economics against the jurisdiction's logistics and legacy risk.
A proposed gold mine on the Johnson Tract, an inholding surrounded by Lake Clark National Park in Alaska, has split the local community. We assess the permitting and social licence risk.
Gold Fields expects Salares Norte in Chile to exceed guidance and offset weaker output at Gruyere in Australia and Tarkwa in Ghana. We assess the concentration risk behind the guidance upgrade.
White Gold Corp's first preliminary economic assessment outlines a 9.4-year open pit producing about 188,000 ounces a year, with a C$1.91 billion net present value. We test the inputs.
Wia Gold says a further A$125 million equity placement, alongside a proposed US$360 million Sprott debt facility, fully funds Kokoseb in Namibia through construction. We assess the structure.
Barrick and Newmont have expanded the Nevada Gold Mines joint venture, vended in Fourmile, Mike and Fiberline, and settled their disputes for 1.95 billion dollars. We assess what it means for both balance sheets.
Operator-level reads: what the disclosures support, and what they do not.
Tolu Minerals is drilling and progressing a restart at the Tolukuma gold mine in Papua New Guinea. We assess brownfield restart economics against the jurisdiction's logistics and legacy risk.
Gold Fields expects Salares Norte in Chile to exceed guidance and offset weaker output at Gruyere in Australia and Tarkwa in Ghana. We assess the concentration risk behind the guidance upgrade.
An AurumPivot analysis of Burlcore Mining's gold reserves, regulatory compliance, licensing strategy and leadership depth in Uganda's Lake Victoria Gold Belt.
Four coverage desks translate raw disclosures into corporate intelligence.
Reserves, licences and leadership benches, benchmarked.
Cost guidance, dividends and non-core divestments.
Legislation, permitting and jurisdictional vetting.
Greenstone belts, endowments and resource modelling.
