With investors racing to the safe-haven of gold, the metal hit an all-time high of $2,830.49 and could easily test $3,000. All after President Trump signed off on tariffs on Canada, China and Mexico (put on hold), which raises concerns of inflation. Plus, central banks are still accumulating gold at a record pace over the last few years. Even global uncertainty and chaos is forcing gold higher. Remember, there are still ongoing tensions in the Middle East. Russia and Ukraine are still at war. And China-Taiwan relations are still tense. Those are the key catalysts for $3,000+ gold and for related 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).
We also have to consider that if the trade war intensifies, and if inflation pushes higher, gold prices will rally well above $3,000 with investors racing to safe havens. “We haven’t seen a complete response from gold and if this trade war continues for a considerable period, it could lead to significantly higher gold prices down the road,” said Bart Melek, head of commodity strategies at TD Securities, as quoted by CNBC.
Look at Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), For Example
Troilus Gold Corp. announced the launch of its 2025 exploration program at the Troilus Copper-Gold Project in north-central Quebec, Canada. This year’s program is designed to advance drilling and further develop high-priority targets to explore resource growth opportunities within and along the existing mineralized corridor. In addition to targeted drilling, the program will incorporate advanced geophysical surveys to refine exploration models and prioritize high-potential zones for resource expansion.
The 2025 Exploration Program includes:
· A 15,000m drill program targeting near-mine, high-grade zones to identify opportunities for incorporating higher-grade mineralization into the early years of production, as outlined in the 2024 Feasibility Study (see May 14, 2024 press release). The program will also include follow-up drilling on historical geophysical targets to further define potential resource expansion.
– Over 2,100 line-kilometres of versatile time-domain electromagnetic surveys covering extensions of the Troilus mine trend and the Pallador target claim blocks to refine exploration models.
– 23.3 line-kilometres of induced polarization surveys over high-priority soil anomalies to further delineate and prioritize drill targets.
– Collection of approximately 3,700 soil samples to infill key data gaps in existing geochemical surveys, to enhance target generation.
– Prospecting and detailed geological mapping across multiple targets within Troilus’ 435 km2 land package.
Justin Reid, CEO of Troilus Gold, commented, “While 2025 marks an exciting new chapter for the Troilus Project -with engineering advancing, permitting approaching final, and early works planned later this year – there remains significant exploration upside, both near the mine and across our broader land package. Our work to date has confirmed Troilus as a generational-scale asset within a highly prospective gold district, reinforced by recent major discoveries in the region. This year’s exploration plans are designed to optimize planning, assess opportunities to integrate higher-grade mineralization into the early years of production, and further unlock the district-scale potential of our property through continued regional exploration.”
Drill Program
Troilus has initiated a 15,000-metre drill program designed to support the development of the Troilus Project by targeting high-grade zones near the planned mine pits and builds on the success of last year’s
drilling, which identified the “West Rim” discovery, that intercepted high-grades such as 1.66 g/t AuEq (1.64 g/t Au, 0.92 g/t Ag, 0.01% Cu) in hole WR-24-003 just 150 m from the planned reserve pit (see September 3, 2024 press release). The program aims to further define the first five years of production by delineating high-grade trends. Approximately 70% of the drilling will be allocated to test targets around the Southwest Pit, while the remaining metres will be allocated to near-site, high-grade targets, and follow-up to geophysical surveys.
Geophysics
Geophysics works will include 23.3 line-kilometres of IP survey planned over prominent soil and rock geochemical anomalies to better understand the subsurface geology and refine drill targeting across the Troilus property. Furthermore, over 2,100 line-kilometres of airborne VTEM surveys will be conducted across the Troilus trend and Pallador claim blocks (see Figure 1). Airborne VTEM surveys conducted in 2015 over the main ore bodies showed a correlation with zones of high-grade volcanogenic mineralization. Historical electromagnetic surveys conducted in the belt do not offer the fine resolution and depth of investigation (exceeding 300 metres) obtained through modern VTEM surveys. The results of this survey will be integrated with existing datasets to better define exploration targets.
Regional Exploration
Regional exploration activities in 2025 will include a comprehensive summer program consisting of two months of helicopter-supported prospecting and mapping, as well as the collection of approximately 3,700 soil samples. Detailed mapping of high-priority targets will inform modelling and future drill planning, while new soil geochemical data will be integrated into the existing dataset to guide follow-up exploration efforts.
Other related developments from around the markets include:
Freeport-McMoRan reported fourth-quarter 2024 net income attributable to common stock of $274 million, $0.19 per share, and adjusted net income attributable to common stock of $450 million, $0.31 per share, after excluding net charges totaling $176 million, $0.12 per share. Richard Adkerson, Chairman of the Board, and Kathleen Quirk, President and CEO, said, “We enter 2025 with a clear focus on continued strong execution of our operating plans, enhancing productivity, managing costs and capital, and advancing opportunities for long-term profitable growth and value creation. Our global team delivered solid results in 2024 and we are strongly positioned for the future with high-quality, large-scale copper assets, attractive organic growth options, successful track record of our team and a strong balance sheet. Copper’s role in the global economy is increasingly important and Freeport is well positioned for the future as a global industry leader.”
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.
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