itemprop=description content=(Kitco commentary) - The best performing precious metal for the week was gold, but still off 1.22%.
The best performing precious metal for the week was gold, but still off 1.22%. Workers at Mexico’s biggest gold mine agreed to accept Newmont Corp.’s offer, which has kept the Penasquito mine idle for four months. Workers are basically getting an 8% pay raise, according to Bloomberg.
Star Royalties Ltd. entered into a non-binding agreement with Sabre Gold Mines Corp. to restructure the Company's existing gold streaming agreement on the Copperstone Gold Mine. The proposed restructuring will revise the Copperstone gold stream from 6.6% of gold produced with production-based step-downs to a flat 4% of gold produced for the duration of Copperstone’s life-of-mine and additional consideration of C$4.
Anglo American Plc’s De Beers sold a provisional $200 million of rough stones in its eighth sale of 2023, compared with $370 million at the prior sale and $508 million a year earlier.According to Stifel, multiple technical indicators are showing a bottom is in or very near for gold and the junior gold equities. The relative strength index for gold is currently at 21; this level has only been seen seven times over the past decade.
into a sustainability-linked syndicated revolving credit facility agreement of as much as A$500 million, with a A$100 million accordion option. The facility agreement was concluded with a syndicate of 10 banks, with the Commonwealth Bank of Australia as mandated lead arranger and bookrunner, as well as sustainability coordinator.
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