Weekly Nugget
Still Riding The High From PDAC...
We leaned on ChatGPT this week, and On The Rocks is named a top mining podcast!
In this week's Nugget we've got industry news, the latest technical reports, and how to use Prospector at PDAC!
- 🔥 What's New
- 🎧 On the Rocks
- 📰 In The News
- ⚒️ Mining Data Digest Snapshot
- 📱 Trending On Social
- ❓ Prospector Poll
🔥 What's New
Last Day At PDAC!
We hope everyone has been enjoying this year's conference, and we want to extend a special thanks to everyone who attended our Mining Futurist Party last night at the Walrus Pong Bar!
With today being the last day of the conference, this is your final chance to use Prospector at PDAC! Whether you are attending as a guest, exhibiting, or keeping an eye out for investment opportunities - we have you covered. Check out the recording of our pre-PDAC LinkedIn Live below to learn how to use our extensive database to save you time and be more prepared. Make sure you register for the event to view the recording!
- Apply filters and sorting options
- Create and export lists
- Access resource, reserve, and production data
- Complete an open text search of news filings and technical reports
Utilize your current subscription or take advantage of this opportunity to try out your free trial in action.
- We'll be at booth 6406N, stop by and we'll help you get started on your free trial!
- Come check out our joint solution with Striveworks that uses machine learning to extract text and imagery from publicly available maps dating back 100 years—helping investors identify and measure the value of mines.
- Book a 1-on-1 Demo at Our Booth
🎧 On The Rocks
📰 In The News
Elliott Management On The Hunt For Mining Assets Worth At Least $1bn
Elliott Management is launching Hyperion, a venture targeting global mining assets valued at over $1 billion, to capitalize on the current low valuations in the mining sector. Led by Sandeep Biswas, former CEO of Newcrest Mining, Hyperion aims to explore opportunities across a broad spectrum of assets, including those vital for electric vehicle production and renewable energy. This initiative comes as metal prices are expected to increase due to rising demand and limited supply, despite the sector's valuation being affected by concerns over environmental, social, governance risks, and geopolitical instability. Elliott's move reflects a growing interest from private equity and sovereign wealth in mining investments to address the global demand for metals essential for the energy transition, indicating a strategic shift towards financing and revitalizing underperforming assets amidst market challenges.
Gold Miner Newmont To Sell Assets, Cut Jobs After Newcrest Buy
Newmont Corp, following its acquisition of Newcrest for $17.14 billion, announced plans to sell eight non-core assets and reduce its workforce to decrease debt and enhance profitability. Despite exceeding quarterly profit expectations, the company's shares dropped 7% due to a $1.2 billion impairment charge on its Penasquito mine and a 2024 gold production forecast below some market expectations. Newmont aims to generate over $2 billion from optimizing its portfolio with Newcrest, focusing on expanding its tier-1 assets. This strategy includes a commitment to achieving $100 million in free cash flow through synergies from the merger, including workforce reductions.
AI To Help Determine Best Carbon Capture Material
Researchers from the US, including teams from the Argonne National Laboratory, the University of Illinois at Urbana-Champaign, the University of Illinois at Chicago, and the University of Chicago, are leveraging advanced generative artificial intelligence (AI) and machine learning techniques to expedite the discovery of metal-organic framework materials (MOFs) suitable for carbon capture. By utilizing the Polaris and Delta supercomputers for rapid assembly and detailed molecular dynamics simulations, they have created over 120,000 new MOF candidates in a short span, significantly speeding up the process of identifying those with optimal stability, chemical properties, and carbon capture capacities. This innovative approach, integrating AI with high-throughput screening and molecular dynamics, aims to revolutionize MOF design, potentially leading to breakthroughs in efficient, cost-effective carbon capture technologies.
What To Expect In 2024 After Diamond Sector’s Price Plunge
The diamond industry has experienced significant price volatility, with a 25% decrease from early 2022 highs due to disrupted supply and demand dynamics. The pandemic led to the lowest production levels since the 1990s, and although there has been a recovery, output remains below pre-pandemic levels. Major players like De Beers and Alrosa faced drastic sales declines, contributing to industry-wide stockpiles. Challenges such as bankruptcies and the impact of lab-made diamonds, which now account for 20% of the market, further complicate the sector's outlook. However, 2024 may see a moderate price recovery influenced by potential demand increases, the strategic release of excess stock, and the impact of sanctions on Russian diamonds, amidst new supplies from Angola's Luele mine and global economic factors.
⚒️ Mining Data Digest Snapshot
The Koné Gold Project by Montage Gold Corp., situated in northwest Côte d’Ivoire, encompasses an Updated Feasibility Study for the Koné and Gbongogo Main open pits. Spanning 1,801 km², this project is set within the Birimian Baoulé-Mossi domain's metamorphosed intrusives and volcanic materials. Exploration has delineated gold resources, with drilling efforts confirming the presence of gold in quartz diorite hosts, associated with deformation and veining. The feasibility study reveals a probable reserve of 174.3 million tonnes at 0.72 g/t for 4.01 million ounces of gold.
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📱 Trending On Social
❓Prospector Poll
What was your favorite part of #PDAC2024?