Kitco Mining

Gold M&A Heats Up as Equinox and Orla Announce Merger | Hall & Simpson @EquinoxGoldCorp and @MiningOrla have announced a planned all-stock transaction to create a North American-focused senior #gold producer with roughly 1.1 million ounces of annual production and a development pipeline to 1.9 million ounces. Darren Hall, President and CEO of Equinox Gold, and Jason Simpson, President and CEO of Orla Mining, join Kitco #Mining’s @PaulHarrisGold to discuss the May 13, 2026, deal and what it means for gold-sector consolidation. > Full video at Kitco Mining: youtube.com/watch?v=Jnj2GA… The transaction is expected to create a company with 23 million ounces of reserves and an expected market capitalization of about $18 billion to $19 billion. Hall said the companies are combining from a position where both are undervalued, while the merger could create a senior-producer profile “which no company on its own could do in the next few years.” Simpson said the timing reflects a push to accelerate value creation, with the combination “propelling us into a senior space.” The discussion covers why now is the right time for gold M&A, how the combined company plans to fund about $2 billion of development projects with projected free cash flow from 2026 to 2030, why U.S. and Canadian exposure matters, and the catalysts ahead at Greenstone, Valentine, Musselwhite, Castle Mountain, Los Filos, and South Railroad. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:49 - Why Merge Now 04:42 - Leadership And Strategy 06:18 - North America Focus 09:35 - #Exploration Upside 12:49 - Funding And Returns 15:50 - Debt And Balance Sheet 16:53 - Approvals And Timeline 21:13 - Synergies And Scale

The 2-Year Market Bubble Has Begun: AI, Money Printing and Inflation | Clem Chambers Is the stock market entering a massive bubble? Clem Chambers, CEO of Online Blockchain plc, joins Kitco News anchor Jeremy Szafron to break down why the AI infrastructure build-out and U.S. deficit spending are fueling a 2-year market bubble. Chambers also analyzes President Trump's high-stakes visit to China and Xi Jinping's warning over Taiwan, explaining why physical gold acts as the ultimate "thermostat" for global geopolitical risk. > Full video at Kitco: youtube.com/watch?v=htcYZS… Moving beyond the semiconductor hype, Chambers outlines the hidden "choke point" in the AI revolution: a severe lack of electricity and grid capacity. He details why the real investment opportunities lie in hard assets, industrial batteries, and copper as the physical supply chain scrambles to meet surging energy demands. Finally, the two discuss central bank liquidity, the ongoing U.S. deficit, and how to navigate the markets as capital rotates away from geopolitical stress. Recorded May 14 2026 Follow Jeremy Szafron on X: @JeremySzafron (x.com/jeremyszafron) Follow Kitco News on X: @KitcoNewsNOW (x.com/kitconewsnow) Follow Clem Chambers on X: @ClemChambers (x.com/clemchambers) 00:00 Trump-Xi Summit Meets the Markets 01:14 #Gold as a Geopolitical Thermostat 03:05 What News Actually Moves Physical Gold? 05:02 The Rare Earths Reality Check 07:10 Dollar Strength vs. "War Gold" 10:30 Silver's 'FOMO' Washout 13:45 The New U.S.-#China Trade Wall 17:17 The AI Power Bottleneck Trade 18:44 Hidden #AI Supply Chain Plays 20:44 Printing Money vs. Real Productivity 22:10 Finding Value in Hard-Asset Infrastructure 23:52 The Nasdaq Bubble Playbook 26:37 Energy Stress & Geopolitical Bottlenecks 32:10 Fed Liquidity & The Investor Playbook

Record Gold Profits, But Growth Still Flat | Joe Mazumdar Joe Mazumdar, editor of Exploration Insights, joins Kitco Mining’s Digging Deep with Paul Harris to unpack a record-setting earnings season for gold producers, where higher margins, stronger free cash flow, and rising shareholder returns are reshaping the sector. > Full video at Kitco Mining: youtube.com/watch?v=2Qywoa… Mazumdar highlights Newmont and Lundin Gold as standout performers, but says the bigger issue is that organic production growth remains constrained despite higher gold prices. With producers trading at a premium to the assets they are acquiring, he argues M&A may be more attractive than building new mines in a high-cost environment. “Why take the permitting risk? Why take the capital escalation risk that we're seeing in some of these underground projects when you could just get a producing asset that you like?” The discussion also covers exploration spending discipline, risks behind aggressive junior drilling programs, assay delays, rising drilling costs, Cameco’s downstream nuclear strategy, and why companies are packaging non-core assets into more focused vehicles. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. Recorded May 07, 2026 00:24 - Q1 #Gold Earnings Surge and Record Margins 03:41 - Cost Pressures, Streams, and Weak Performers 06:08 - Divestments, Debt Paydown, and Project Builds 08:05 - Growth Constraints and Exploration Spending 11:57 - Why M&A Is Cheaper Than Building Mines 15:50 - Junior Drilling Boom and Execution Risks 19:23 - Rigs, Labor Shortages, and Assay Delays 22:28 - Australia Gold Deal and Reporting Differences 27:12 - #Uranium Momentum and Cameco Strategy 31:45 - Spinouts and the Non-Core Asset Shift

Fortuna’s Growth Plan: More Mines, More Cash Flow | Jorge Ganoza @fortunamining (NYSE: FSM; TSX: FVI) President and CEO Jorge Ganoza joins Kitco Mining’s Kitco Spotlight with Paul Harris to discuss the company’s Q1 2026 results, released in early May, and how Fortuna is using record free cash flow to fund its next phase of growth without issuing shares. >> Full video at Kitco Mining: youtube.com/watch?v=XfOu_M… Fortuna reported $120 million in net earnings and $174 million in free cash flow in Q1 2026 on production of about 72,000 gold equivalent ounces. Ganoza said the company is “truly capturing the benefit of this high-price environment” as it advances a 60% gold production growth plan over the next 24 months, driven by the Séguéla expansion in Côte d’Ivoire and Diamba Sud development in Senegal. Ganoza also discusses Fortuna’s path to 500,000 oz per year, Diamba Sud permitting after a September 2025 submission, May 2026 project studies, exploration upside at both assets, West Africa government take, frontier-market tradeoffs, potential M&A opportunities in Africa, and share buybacks. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. To learn more about Fortuna Mining, visit: fortunamining.com 00:23 - Record Q1 2026 Results and Free Cash Flow 03:33 - Roadmap to 500,000 oz of Annual Gold Production 06:38 - Exploration Upside at Séguéla and Diamba Sud 08:41 - Why Fortuna Sold Short-Life Mining Assets 10:56 - Caylloma Mine Outlook and Free Cash Flow 13:48 - West Africa Mining Risk and Government Take 17:09 - Fortuna’s Frontier Market Strategy and Tradeoffs 22:30 - Share Buybacks and Shareholder Returns Sponsored content. This video was produced with support from a Kitco sponsor. Kitco does not endorse or recommend any company, security, investment product, or investment strategy. This content is for informational purposes only and should not be considered investment advice.

#Silver shooting higher. On its way to $90+? Stay tuned...

Mining Profits Surge, But Stocks Aren’t Following | Feneck John Feneck, Founder & CEO of The Feneck Commodities Report, joins Kitco Mining’s Digging Deep as gold and mining equities pull back amid ongoing geopolitical tension in the Middle East. Speaking with Paul Harris, Feneck said the recent weakness does not signal a breakdown in the trend, but a buying opportunity within a broader bull market. “This is a buying opportunity,” he said. >> Full video at Kitco Mining: youtube.com/watch?v=bBOdEL… Feneck highlighted a growing disconnect across the sector, with major producers like @NewmontCorp and @kinrossgold generating record free cash flow, while many junior gold stocks are down 25% to 40% since early March. He said that gap, combined with constrained global gold production, could drive increased M&A activity as majors look to secure new ounces. At the same time, some major banks continue to forecast gold in the $5,300 to $6,000 range over the next 9 to 12 months, while larger-scale deposits are increasingly required to attract serious interest. The discussion also covers silver supply deficits, China’s growing role in critical minerals, and the return of capital to the sector through major financings and IPOs. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:23 - Geopolitics and Gold Pullback 01:48 - Record Producer Cash Flow Surge 03:54 - Flat Supply and Rising M&A Pressure 05:15 - Yukon Turnaround and Undervalued Juniors 07:52 - Why 5Moz Is the New Benchmark 09:09 - Permitting Risks and PEA Pitfalls 12:14 - Ross Beaty IPO and Capital Return 15:04 - Nickel Market Rebound and Supply Shifts 17:56 - Rare Earth Deal and Strategic Demand

BTC is pushing into a very frothy breakout, with RSI making higher highs and the daily chart still in strong bullish mode. Ethereum has finally closed above resistance, but still needs stronger volume confirmation before this rally looks truly sustainable. Bitcoin dominance remains the big chart to watch, especially if BTC, ETH, and BTC.D all close above their key RSI resistance levels. Stablecoin dominance is breaking down hard, which is bullish for risk assets short term, but also raises the odds of a sharp pullback if conditions get too overheated. TradFi is giving mixed signals: DXY is still trying to form higher lows, USD/JPY may be nearing another key rejection zone, equities are squeezing higher on weak volume, and the Nikkei is making new highs. Oil is rolling over, while gold and silver are pushing up with suspiciously weak volume. The main takeaway is account preservation. Markets are heating up fast, but May and June are historically tricky, and bottom-year rallies can still roll over hard. Protect your portfolio, manage emotions, and do not chase overextended charts without a plan. 00:00 BTC RSI breakout and overheated market conditions 01:13 ETH closes above resistance, but volume still matters 02:09 Bitcoin dominance and Bitcoin season risk 03:00 Stablecoin dominance breakdown and pullback warning 04:31 TOTALES, TOTALE50, TOTALE100, and altcoin strength 05:26 DXY, USD/JPY, and S&P futures 07:41 Tesla and NVIDIA setups 09:20 VIX and Nikkei breakout 10:15 Oil, gold, silver, and weak volume signals 11:50 Account preservation and bottom-year thesis 12:48 TBO and Better Traders Journal 13:44 Viewer chart requests and market picks 14:23 TRX, DOGE, LINK, and ZEC 19:42 ETC, ONDO, MORPHO, DASH, VIRTUAL, and FARTCOIN 21:19 BIANRENSHENG, M, DEXE, HYPE, TON, and ICP 23:17 ALGO, RENDER, STX, CFX, H, PYTH, VVV, PENDLE, PLUME, and HBAR 26:15 Stock picks: Intel, RGTI, D-Wave, IONQ, Intuit, Seagate, and Amazon

Gold Chain Resource Nears as 20,000m Drill Program Advances | Derek Macpherson @WestPointGoldUS (TSXV: WPG) is advancing its Gold Chain project in Arizona’s Walker Lane Trend toward a maiden resource at the Tyro main zone, targeted for late Q3 to early Q4 2026. President and CEO Derek Macpherson said the company has drilled nearly 25,000 meters to date and is completing a 20,000-meter program focused on resource definition and new discoveries. The exploration target outlines 1–3 Moz grading 2–3 g/t gold over roughly one kilometer of strike. “We're on track to deliver a maiden resource at the Tyro main zone,” Macpherson said, noting the system is expected to remain open along strike and at depth. Drilling has also delivered two new discoveries this year at Black Dyke and Sheep Trail, with about 8,000 meters of additional assays expected and results released every two to three weeks through mid-July. The company completed a January 2026 financing ahead of a weaker market and expects to finish the current program with about $25 million. “We're not out chasing it right now,” he said. > Full video at Kitco Mining: youtube.com/watch?v=fWj7Z3… To learn more about West Point Gold, visit: westpointgold.com Recorded on April 27, 2026. 00:32 - West Point Gold Strategy and Value Creation 02:14 - Defining Success and Exploration Milestones 04:26 - Arizona Advantage and Water Rights at Gold Chain 05:39 - Structural Complexity and Drill Targeting Strategy 07:25 - 20,000 Meter Drill Program and Discovery Focus 09:07 - Maiden Resource Target and Walker Lane Comparisons 12:15 - Open Pit Potential and Resource Timeline 14:11 - Post-Resource Drilling and Expansion Strategy 17:58 - Treasury, Warrants, and Financing Strategy 21:08 - 2026 Catalysts, Drill Results, and Outlook

Argenta Silver Intersects 1,385 g/t Ag over 4.0m at Mani-Copan Target and Discovers New High-Grade Silver Zone at El Quevar (Press Release) VANCOUVER, British Columbia, April 28, 2026 /CNW/ – @argentasilverag Corp. (TSXV: AGAG) (OTCQX: AGAGF) (FSE: T1K) (“Argenta” or the “Company”) is pleased to report the fourth set of assay results from its ongoing 2025–2026 diamond drilling campaign at the El Quevar Project in Salta Province, Argentina. The latest results highlight significant high-grade silver mineralization at the Mani-Copan and Argentina exploration targets, located 800 meters and 1,500 meters respectively, from the eastern edge of the current Mineral Resource, which hosts 45.3 million ounces of #silver from 2.93 million tonnes grading 482 g/t Ag, and an inferred resource of 4.1 million ounces from 0.31 million tonnes grading 417 g/t Ag (1)... Full press release here: argentasilver.com/argenta-silver…

Syntholene Tackling Aviation Fuel Shortage | Dan Sutton @syntholene Energy (TSXV: ESAF; OTC: SYNTF) CEO Dan Sutton joins Kitco Mining’s Investment Trends as tightening jet fuel supplies expose structural risks across global transportation. Sutton said the aviation sector is “100% exposed” to fossil fuel supply chains, adding that “Aviation fuel is often the canary in the coal mine when it comes to supply chain constraints.” He noted that hard-to-abate sectors have no viable alternative to high-energy-density liquid fuels. > Full video at Kitco Mining: youtube.com/watch?v=ee3FcN… Speaking on April 27, 2026, Sutton said the company is advancing a geothermal-powered synthetic fuel project in Iceland aimed at lowering costs and scaling production. Integrating heat and electricity could reduce hydrogen costs by about 70%, while producing a drop-in fuel compatible with existing aircraft and infrastructure. The demonstration facility is targeting completion by the end of 2026, supported by an expression of interest from Icelandair for 250 million liters over a decade. “Everybody is looking for more of this fuel,” Sutton said, pointing to growing demand from airlines and energy companies. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. To learn more about Syntholene Energy, visit: syntholene.com 01:02 - Aviation Fuel Crisis and No Alternatives 02:08 - Why Biofuels Failed to Scale 03:32 - Geothermal Synthetic Fuel Explained 04:35 - Iceland Project and Geothermal Integration 06:32 - Drop-In Synthetic Kerosene for Aviation 09:05 - Offtake Agreements and Fuel Demand Growth 10:40 - Investor Case and 2026 Timeline 12:16 - Execution Risks and Project Delivery 13:41 - Geopolitics and Energy Security Risks

‘Gold remains the strategic allocation, while silver remains the tactical opportunity’ – Saxo Bank’s Hansen #Oil-led inflation risks, not geopolitics, are driving near-term weakness in precious metals, and while #gold's pullback looks cyclical rather than structural, #silver’s vulnerability to industrial demand and investment flows makes it more fragile, according to @Ole_S_Hansen, Head of Commodity Strategy at @saxobank. Hansen noted that “rising energy prices, a stronger dollar, firmer inflation expectations and a renewed higher-for-longer view on US interest rates have together created a more challenging short-term environment for non-yielding assets,” which have driven gold prices to a three-week low... Full article at Kitco: kitco.com/news/article/2…

Turkish central bank boosts gold reserves by 36.4 tonnes in two weeks as it closes swap positions Türkiye’s central bank is rebuilding its gold reserves as it unwinds some of the dollar-for-gold swap positions it employed during peak market stress, with physical holdings rising to around 730 tonnes as of April 17, according to the latest data. The bank increased its gold reserves by 30.7 tonnes over the past week, the latest government data showed, bringing total gains to 36.4 tonnes in the past two weeks and reversing the steep drawdown from its earlier liquidity operations... Full story at Kitco: kitco.com/news/article/2…

Newmont rides record gold prices to $3.1B in free cash flow in Q1 The world’s largest #gold producer continues to ride the wave of higher precious metals prices after reporting record earnings and free cash flow for the first quarter of 2026. On Thursday, after the North American equity close, @NewmontCorp (NYSE: NEM) reported first-quarter net income of $3.3 billion, with adjusted earnings of $3.2 billion, or $2.90 per diluted share, nearly doubling from the previous quarter as the average realized gold price climbed to $4,900 per ounce. The company’s earnings significantly beat analyst expectations, as consensus estimates called for $2.17 EPS... Full article at Kitco: kitco.com/news/article/2…

China’s silver imports surge 78% in March as investors and manufacturers scramble to secure metal A perfect storm of surging demand from retail investors and rapid consumption from manufacturers ramping up solar panel production ahead of expiring tax rebates resulted in the largest single month of #silver imports in #China’s history, according to a report from The Kobeissi Letter. “Chinese silver imports rose +78% MoM, to a record ~836 tonnes in March,” they wrote in an X post. “This is +173% above the 10-year seasonal average for March. Year-to-date, silver imports are up to ~1,626 tonnes, the highest on record.” “Surging demand was driven by retail investors purchasing small silver bars as a lower-cost alternative to #gold, and solar manufacturers front-loading production ahead of the removal of export tax rebates on April 1st," @KobeissiLetter noted. “The global solar industry consumes ~20% of total annual silver supply, with the majority of activity concentrated in China.” ... Full article can be found at Kitco: kitco.com/news/article/2…

Copper's 5 year chart seems to signalling an All-Clear for the global economy and industry.

#Gold pushing higher after an overnight dip. Gold is still in a rollover on the 6 month chart, and looks likely to drop lower from here in the near term. Key thing to look for is a bounce in the $4400-$4600 area, which would mark a higher low and a potential launchpad for a strong move higher. Breaking below the near term low around $4100 would be a sign of a sustained lower future price trend.

Copper rises after Trump extends Iran ceasefire (Reuters) - Copper prices rose on Wednesday as U.S. President Donald Trump's extension of a ceasefire with Iran ​improved overall risk sentiment, although lingering uncertainty over the Middle ‌East conflict capped gains. Benchmark three-month copper on the London Metal Exchange was up 0.3% at $13,270 a metric ton in official open-outcry trading. The renewed premium of Comex copper ​prices over the LME global benchmark, a defining feature of ​the copper market in 2025, has re-emerged this month, encouraging ⁠shipments to the United States. Full article at Kitco: kitco.com/news/off-the-w…

Ghana directs Newmont, AngloGold, Zijin to shift mining ops to local firms by December (Reuters) Ghana’s mining regulator has given international companies Newmont, ‌AngloGold Ashanti and Chinese-owned Zijin until December 2026 to shift mining operations over to local contractors or face sanctions, according to five sources with direct knowledge of the matter and documents. The three companies currently operate the mines with their own staff. They are the only ones still doing so after many firms outsourced mining operations ahead of Ghana, Africa’s top gold ​producer, revising local ownership rules in January 2025 and requiring all miners to switch to contract mining... Full story at Kitco: kitco.com/news/off-the-w…

Energy Markets Are Pricing Fear, Not Reality | Rick Rule Rick Rule @RealRickRule, President and CEO of Rule Investment Media, joins Kitco Mining’s Digging Deep with Paul Harris to break down escalating geopolitical risk and what it means for energy, commodities, and mining. Rule says recent oil and LNG price moves tied to the Persian Gulf conflict are “anticipatory rather than reactive,” warning that markets are still pricing anticipatory shortages rather than real rationing. If supply disruptions materialize, he said, “the price impact is going to be very different than the price impact that we've seen,” pointing to potential sharp repricing within two or three weeks. Rule identifies uranium as a key strategic winner as countries prioritize energy security, saying “the real unsung beneficiary will be the nuclear power industry and by proxy the uranium companies.” He also argues resource nationalism and government intervention are likely to continue, with growing pressure on mining assets across key jurisdictions. Full video at Kitco Mining: youtube.com/watch?v=R3b-9l… In this interview, Rick Rule also discusses: • Why energy markets could reprice sharply if real shortages emerge • Uranium’s advantage in a shifting global energy system • Resource nationalism and government pressure on mining assets • G Mining’s $3B deal and why consolidation can still be accretive • Rare earth supply chains and rising government-backed capital Recorded April 22, 2026 Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:25 - Iran Conflict and Anticipatory Energy Price Moves 03:23 - Geopolitics, Energy Security, and Uranium Upside 06:47 - Resource Nationalism and Government Control Risks 11:40 - G Mining–G2 Goldfields $3B Guyana Merger 15:11 - Is G Mining Now a Takeover Target? 18:18 - Agnico Eagle Finland Consolidation Strategy 21:14 - Barrick M&A Challenges and Nevada Synergy Debate 24:48 - Rare Earth Supply Chain Deal and U.S. Strategy 29:22 - Rare Earth ETF Demand and Investor Access 32:07 - Seabridge Gold KSM Permitting and Legal Dispute 36:16 - Rule Symposium Preview and Market Outlook

Norway’s government takes over planning for Europe’s largest rare earth deposit (Reuters) Norway will take over planning for the Fen rare earth deposit – Europe’s largest – to speed up development after a resource upgrade nearly doubled its estimated size, the government said on Wednesday. Fen was estimated last month to hold 15.9 million metric tons of rare earth oxide in indicated and inferred resources, 81% more than a 2024 estimate, the project’s developer said at the time. Europe has no operating rare earth mines, and development of the southern Norway project would support the region’s push to reduce reliance on dominant producer China... Full article at Kitco: kitco.com/news/off-the-w…