Chariot Corporation (CC9:AU) has announced High-Potential WA Lithium & Gold Tenements Secured
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Announces Agreement to Acquire Mineral Claims Contiguous to the Swanson Gold Project, Quebec
LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (‘LaFleur Minerals’ or the ‘Company’) reminds shareholders that the Company’s Annual General and Special Meeting of Shareholders (the ‘Meeting’) will be held at Suite 1500 1055 West Georgia Street, Vancouver, British Columbia on Friday, March 7, 2025 at 10:00 am (Pacific Time). Shareholders who intend to attend the meeting via telephone conference must submit votes by Proxy ahead of the proxy deadline of 10:00 am (Pacific Time) on March 5, 2025. The Company has filed Management Proxy Materials for its Meeting under its profile on SEDAR+ www.sedarplus.ca and on its corporate website at lafleurminerals.cominvestors.
Acquisition of Mineral Claims within Swanson Gold Project
The Company is also pleased to announce that it has entered into a Property Purchase Agreement with a third-party arm’s length vendor (the ‘Vendor‘) dated February 10, 2025 (the ‘Agreement‘). Under the terms of the Agreement, the Company is entitled to acquire 100% interest to 13 mining claims covering approximately 642 hectares (the ‘Claims‘) contiguous with the Company’s Swanson Gold Project (‘Swanson‘) in the Barraute region, north of Val-d’Or, Québec (Figure 1). These Claims include the 1694 Au-Ag showing (Source: Gestim) with a reported historical grab sample that assayed 2.5 g/t Au associated with quartz veins in a felsic volcanic rock.
Paul Ténière, CEO of LaFleur Minerals Commented, ‘We are pleased to acquire these 13 claims within our Swanson Gold Project, which is over 150 km2 in size with numerous gold occurrences and deposits. These claims are strategically located between our Bartec and Jolin deposits and within several significant structures that host numerous gold showings. This acquisition continues our strategy of consolidating claims in the Swanson region and developing additional areas with significant gold potential.‘
The purchase price for the Claims consists of a cash payment totaling $12,000 and the issuance of 100,000 common shares of the Company to the Vendor within 7 business days of approval of the Agreement by the Canadian Securities Exchange (‘CSE’) or February 28, 2025, whichever date occurs earlier.
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
Figure 1: Location map for 13 claims contiguous with the Swanson Gold Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6526/241352_6915e1a494b21a3f_001full.jpg
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) is focused on the development of district-scale gold Deposits in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining Deposits with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill and Property, which have significant potential to deliver long-term value. The Swanson Gold Deposit is over 15,000 hectares (150 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings that make up the Swanson Gold Deposit. The Swanson Gold Deposit is easily accessible by road with a rail line running through the property allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Minerals’ fully-refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold Deposits.
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière, P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding ‘Forward-Looking’ Information
This news release includes certain statements that may be deemed ‘forward-looking statements.’ Forward-looking statements in this news release include, but are not limited to, statements about the Offering and the Company’s expectations with respect to the foregoing. Factors that could cause future results to differ materially from those anticipated in forward-looking statements in this news release include the tax treatment of the FT Shares. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, political and regulatory risks associated with mining and exploration, risks related to environmental regulation and liability. the potential for delays in exploration or development activities or the completion of feasibility studies, risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, results of prefeasibility and feasibility studies, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241352
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Learning about the aluminum production from countries around the world offers insight into the important industrial metal, which is used in a wide range of essential applications globally.
The reason aluminum is one of the most in-demand industrial metals is its versatility. The metal is non-toxic and lightweight; it also has a high thermal conductivity, is resistant to corrosion and can be easily cast, machined and formed. Aluminum is the second most malleable metal and sixth most ductile, and it is non-magnetic and non-sparking.
This wide array of benefits means aluminum is used in a huge variety of products, including cans, foils, kitchen utensils, window frames, beer kegs and airplane parts. It also has new applications that make it an important element in the green transition.
Learn about the top countries for aluminum production below, including insight on top countries for bauxite mining and alumina smelting. Investors interested in the sector can also check out our guide on investing in aluminum stocks.
Where is aluminum found in the world?
While it is one of the Earth’s most abundant metals, aluminum is rarely found as a free metal. That means companies can’t actually mine for the metal itself — instead, they mine bauxite, which is a large source of the world’s aluminum production. The bauxite is processed to obtain alumina, which is then refined further through smelting to produce aluminum.
According to the US Geological Survey (USGS), ‘As a general rule, 4 tons of dried bauxite is required to produce 2 tons of alumina, which, in turn, can be used to produce 1 ton of aluminum.’ There are other sources of alumina, including clay and oil shale, but they are not economical at a commercial scale.
The USGS estimates global bauxite resources to be between 55 billion and 75 billion metric tons with deposits distributed largely in Africa, Oceania, South America, the Caribbean and Asia. Known bauxite reserves stood at 29 billion metric tons in 2024. The five nations with the highest bauxite reserves are Guinea, Australia, Vietnam, Indonesia, and Brazil.
In terms of bauxite production, Guinea was the world’s largest producer in 2024 at 130 million metric tons of bauxite, closely followed by Australia at 100 million MT and China at 93 million MT. Brazil and India round out the top five with 33 million and 32 million metric tons of bauxite respectively.
As for alumina production, China is by far the world’s largest alumina producer, accounting for nearly 60 percent of the world’s production at 84 million metric tons. The next largest alumina producing country, Australia, accounts for more than 13 percent of global supply with 18 million MT. Brazil, India and Russia round out the top five.
Aluminum production by country
Below we list the top aluminum producers by country based on the USGS’s latest Mineral Commodity Summary, including data on the countries’ alumina and bauxite production.
The US Geological Survey notes that world aluminum output increased slightly in 2024, coming in at 72 million metric tons (MT) compared to 70 million MT in 2023.
1. China
Aluminum production: 43 million metric tons
Alumina production: 84 million metric tons
Bauxite production: 93 million metric tons
Bauxite reserves: 680 million metric tons
China is by far the largest producer of aluminum in the world. In 2024, China produced 43 million metric tons of aluminum, accounting for nearly 60 percent of total global production. China also consumes a considerable amount of aluminum.
Statista points out that China has experienced consistent growth in primary annual aluminum production over the past decade. In 2024, China’s aluminum production increased to a record high for a third year in a row. ‘Manufacturers are preemptively increasing production due to potential US tariffs, altering global trade dynamics,’ reported investment publication Finimize in late 2024.
Aluminum from China accounted for 3 percent of United States aluminum imports in 2024. In September of that year, the Biden Administration increased tariffs on aluminum products imported from China to 25 percent. The Trump Administration tagged on an additional 10 percent tariff on all imports from China in February 2025.
2. India
Aluminum production: 4.2 million metric tons
Alumina production: 7.6 million metric tons
Bauxite production: 25 million metric tons
Bauxite reserves: 650 million metric tons
India’s nickel production in 2024 was 4.2 million metric tons. India has seen its output grow consistently in recent years. In 2021, its production totaled 3.97 million MT, overtaking Russia for second place, and over the past three years, India has increased its aluminum production even further.
Hindalco Industries (NSE:HINDALCO), the world’s leading aluminum-rolling company, is located in Mumbai. Vedanta (NSE:VEDL), India’s largest aluminum-producing company, was reportedly set to invest US$1 billion in its aluminum operations in 2024.
Indian exports are not expected to be heavily impacted by European Union carbon taxes on direct emissions set to go into effect in 2026. The EU is the second largest aluminum consuming region in the world.
3. Russia
Aluminum production: 3.8 million metric tons
Alumina production: 2.9 million metric tons
Bauxite production: 6.3 million metric tons
Bauxite reserves: 480 million metric tons
Russia produced 3.8 million metric tons of aluminum in 2024, up slightly from the 3.7 million MT it put out in 2023. Leading global aluminum producer RUSAL is headquartered in Moscow.
Russia’s aggressive invasion of Ukraine and the resulting sanctions were expected to curb the country’s ability to contribute aluminum supply to the global aluminum market; however, China is picking up much of the slack as a destination for exports. Rusal reported that its year-on-year revenues for aluminum exports to China almost doubled in 2023.
However, in April 2024 ‘the United States coordinated with the United Kingdom to ban imports of aluminum from Russia into both countries and to restrict the sale of these metals on global metal exchanges and in over-the-counter derivative trading,’ the USGS states.
In November 2024, Rusal reported that it plans to reduce its aluminum production by at least 6 percent, due in large part to higher prices for alumina and falling domestic demand.
4. Canada
Aluminum production: 3.3 million metric tons
Alumina production: 1.9 million metric tons
Bauxite production: None
Bauxite reserves: None
Canada’s aluminum production was 3.3 million metric tons in 2024, up from the previous year’s total of 3.2 million MT of aluminum. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), another leading global aluminum producer, has roughly 16 operations in the country.
The province of Québec is the main aluminum jurisdiction in Canada. There are 10 primary aluminum smelters in Canada, with nine of those being located in Québec, and the province is also home to an alumina refinery. The final smelter is located across the country in the province of British Columbia.
Canada was again the leading supplier of aluminum for the US in 2024, accounting for 56 percent of all US aluminum imports. That figure may change in 2025 due to the 25 percent tariffs new US President Donald Trump levied on Canadian aluminum in February.
5. United Arab Emirates
Aluminum production: 2.7 million metric tons
Alumina production: 2.4 million metric tons
Bauxite production: None
Bauxite reserves:None
The United Arab Emirates (UAE) produced 2.7 million metric tons in 2024. Aluminum production in the UAE has remained steady over the last few years, and came in at 2.66 million MT in 2023.
Emirates Global Aluminum is the largest aluminum producer in the Middle East and contributes nearly 4 percent of all global aluminum. The UAE was the source of 8 percent of US aluminum imports in 2024, making it the second largest source of aluminum for the US.
6. Bahrain
Aluminum production: 1.6 million metric tons
Alumina production: None
Bauxite production: None
Bauxite reserves: None
Bahrain’s aluminum production in 2024 came in at 1.6 million metric tons in 2024, nearly on par with the 1.62 million metric tons in the previous year. The aluminum sector is one of the largest sources of export revenue for Bahrain, taking in US$3 billion in 2023.
Formed in 1981, the Gulf Aluminium Rolling Mill in Bahrain was the first aluminum facility in the Middle East. The downstream facility has an annual production capacity of more than 165,000 metric tons of flat-rolled aluminum products.
7. Australia
Aluminum production: 1.5 million metric tons
Alumina production: 18 million metric tons
Bauxite production: 100 million metric tons
Bauxite reserves:3.5 billion metric tons
Australia’s aluminum production in 2024 was 1.5 million metric tons, down slightly compared to 1.56 million MT the previous year. In addition to its work as a major aluminum producer in Canada, Rio Tinto also produces the industrial metal in Australia at two of the country’s four aluminum smelters. The mining major sees aluminum as a valuable resource in the new automotive industry.
However, Australia’s aluminum market has been struggling under the weight of the heavy energy costs associated with smelter operations for a number of years now. “Australia is one of the world’s most emissions-intensive aluminium producers,” as per the Institute for Energy Economics and Financial Analysis.
Pittsburgh-based Alcoa (NYSE:AA), another of the world’s largest aluminum-producing companies, currently operates two bauxite mines, two alumina refineries and one aluminum smelter in Australia. In January 2024, the firm announced it was curtailing production at its Kwinana alumina refinery due to challenging economics.
8. Norway
Aluminum production: 1.3 million metric tons
Alumina production: None
Bauxite production: None
Bauxite reserves: None
Norway produced 1.3 million metric tons of aluminum, on par with the level produced in the previous year. Norway is the largest exporter of primary aluminum in the European Union.
Norsk Hydro (OTCQX:NHYKF,OSE:NHY), a Norwegian aluminum and renewable energy company, has a number of aluminum projects and plants in the country. At Sunndal, Norsk Hydro operates the largest primary aluminum plant in Europe.
In its bid to reach zero-carbon aluminum, the company announced in June 2024 that it is beginning a three-year industrial scale pilot that will test the use of green hydrogen to power aluminum recycling at the recycling unit in its Høyanger plant Norway. In January 2025, Norsk Hydro in partnership with Rio Tinto announced a plan to invest US$45 million in carbon capture technology over the next five years to reduce emissions from aluminum smelting operations.
9. Brazil
Aluminum production: 1.1 million metric tons
Alumina production: 11 million metric tons
Bauxite production: 33 million metric tons
Bauxite reserves: 2.7 billion metric tons
Brazil’s aluminum production in 2024 was 1.1 million metric tons, up from 1.02 million in the previous year. The country is home to the world’s fourth largest bauxite reserves, and was the fourth largest bauxite production and third largest alumina production levels by country in 2024. This makes the likelihood of Brazil gaining a further footprint in the global aluminum market very possible, especially given plans by the country’s industry leaders to invest 30 billion Brazilian reals in the domestic market by 2025.
The largest producer of primary aluminum in Brazil is Albras, which has annual production of about 460,000 metric tons of aluminum using renewable energy sources. Albras is a 51/49 joint venture between Norsk Hydro and Nippon Amazon Aluminum Co. (NAAC), a consortium of Japanese companies, trading companies, consumers and manufacturers of aluminum products. In August 2024, Mitsui & Co (TSE:8031) increased its stake in NAAC from 21 to 46 percent in order to increase its offtake of green aluminum.
Brazil is also a target of the Trump Administration’s 25 percent tariffs on steel and aluminum imports.
10. Malaysia
Aluminum production: 870,000 metric tons
Alumina production: None
Bauxite production: None
Bauxite reserves: None
Malaysia produced 870,000 metric tons of aluminum in 2024, down from 940,000 metric tons of the metal in the previous year. The Southeast Asian nation’s output of the metal has boomed dramatically in the last decade, as Malaysia’s aluminum production in 2012 was just 121,900 MT.
Aluminium Company of Malaysia, or Alcom, is both the largest producer of rolled aluminum products in the country and Malaysia’s largest aluminum producer. It is part of the holding company Alcom Group (KLSE:2674).
S&P Global reports that Chinese firms are keen on opening aluminum-smelting operations in Malaysia. This includes the Bosai group, which is planning a 1 million MT per year operation in the country.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Ukrainian President Volodymyr Zelenskyy has declined a US bid to take control of half of Ukraine’s rare earth mineral rights, instead signaling his intention to pursue a more favorable deal.
The proposal, brought to Kyiv last week by American Secretary of the Treasury Scott Bessent, came after President Donald Trump’s controversial suggestion that the US should secure approximately US$500 billion worth of Ukraine’s critical resources in exchange for military support amid the country’s ongoing war with Russia.
The proposed agreement would have granted the US ownership of around 50 percent of Ukraine’s substantial reserves of minerals such as lithium, titanium and graphite — resources vital for high-tech industries and defense.
The deal presented by Bessent centers on repayment for past US aid, without addressing future assistance or security guarantees, a key point of concern for Zelenskyy and his administration.
Zelenskyy, alongside other Ukrainian officials, has expressed reservations over the terms of the deal.
The Ukrainian president is seeking a broader arrangement that ties the country’s mineral rights to ongoing protection.
“We are still talking,” Zelenskyy remarked during a press briefing in Munich on Saturday (February 15).
He emphasized that any agreement would need to involve not just the US, but also other international partners, including European Union countries, to ensure Ukraine’s long-term security and stability.
The lack of clear security guarantees in the proposal has raised questions in Ukrainian circles, particularly as Russian forces continue to target vital infrastructure, including eastern regions rich in mineral resources.
Bessent has defended the US proposal, saying that the presence of American forces looking to secure Ukrainian mineral deposits would serve as a deterrent to Russian aggression. This explanation has done little to reassure Ukrainian officials, who have criticized the deal for failing to offer a substantive long-term security framework.
The Financial Times reported that a senior Ukrainian official, familiar with the negotiations, described the document as “tough,” with little regard for Ukraine’s sovereignty and future needs.
Adding complexity to the negotiations, the US proposal specifies that any disputes over the mineral rights would be resolved under New York law. Ukrainian officials have expressed skepticism about the enforceability of such terms, particularly given the ongoing conflict and the difficulties of conducting business in a war-torn country.
Zelenskyy has made it clear that Ukraine will not sign any deal until further legal review and negotiations are completed.
Ukraine’s mineral sector faces significant challenges. The country’s critical minerals are located in areas heavily affected by the conflict with Russia, making extraction and development operations risky and difficult to manage.
The Zavallivsky graphite mine, for example, a vital source of the nation’s mineral wealth, has suffered from equipment shortages and workforce reductions due to the war, hindering its ability to expand production to meet potential demand.
Furthermore, industry experts have warned that large-scale extraction of Ukraine’s minerals would require significant foreign investment, which remains uncertain amid the unstable security situation. Without it, the country’s mineral reserves are likely remain underdeveloped, despite their immense potential value.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Tuttle Capital Management has submitted regulatory filings for an exchange-traded fund (ETF) that seeks to invest in companies potentially involved in advanced technologies linked to unidentified flying objects (UFOs).
The proposed fund, called the Tuttle Capital UFO Disclosure AI Powered ETF (UFOD), will allocate the majority of its assets to aerospace and defense firms believed to have exposure to classified research and development projects.
According to documentation sent to the US Securities and Exchange Commission (SEC), UFOD is designed to track companies engaged in research that may involve technology beyond conventional scientific advances.
The fund will also take short positions against firms that could be negatively impacted by potential breakthroughs in these technologies. Overall, the ETF’s investment strategy will depend on government disclosures regarding UFO-related research and alleged technological developments.
Tuttle Capital’s CEO, Matthew Tuttle, has stated that the fund’s strategy is based on speculation about the existence and possible reverse engineering of advanced aerospace technologies.
“I’m a trader. I look at (UFOs) and I say that they’re using a power source that is light years beyond anything that we have … If our government has this technology and it’s released, that will be a game-changer,” he told the Financial Times.
The firm’s SEC filing notes that government confirmation of such technologies remains uncertain, and that market sentiment around these themes is highly speculative.
UFOD is part of a broader lineup of artificial intelligence (AI) ETFs that Tuttle Capital is developing. In addition to UFOD, the firm has filed for seven other ETFs, including those focused on AI in healthcare, quantum computing and global innovation.
Each fund will integrate AI-driven selection models to determine portfolio composition and adjust allocations.
The filing states that all eight ETFs, including UFOD, will be listed on the Cboe BZX Exchange.
Specific launch dates and expense ratios have not been disclosed at this time. The regulatory approval process and market conditions will determine the timing of their introduction.
The SEC’s review process will assess whether the proposed ETFs meet regulatory standards. The agency itself has recently seen increased filings for ETFs incorporating AI into investment decisions.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Elon Musk has signaled interest in auditing US gold reserves stored at Fort Knox, a Kentucky-based army installation, suggesting the Department of Government Efficiency (DOGE) take on the task.
Musk, known for his frequent social media interactions, replied on Saturday (February 15) when an X user said it would be ‘great’ to have Musk make sure Fort Knox’s 4,580 metric tons of gold are really there.
‘Surely it’s reviewed at least every year?’ questioned Musk.
His comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it.’
Speaking on ‘Fox & Friends,’ Paul said he has been trying to visit Fort Knox to verify its gold reserves for a decade. He added that he was initially granted permission during the first Trump administration, but the visit never took place.
Paul emphasized to the news outlet that verifying the existence of the site’s gold reserves is critical.
‘I think some of them may not think it needs to be audited all the time, but I think the more sunlight, the better, more transparency, the better. And also, it brings attention to the fact that gold still has value and implicitly, not explicitly, but implicitly, gold still gives value to the dollar,’ Paul said during the interview, highlighting gold’s role in global finance.
Senator Mike Lee (R-Utah) has weighed in as well, claiming he too has been denied access to Fort Knox.
Musk added in a further X post:
“Who is confirming that gold wasn’t stolen from Fort Knox? Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there.’
The tech billionaire also drew further attention to the debate by posting a meme.
Looking for the gold at Fort Knox … pic.twitter.com/YVGQvBfwVt
— Elon Musk (@elonmusk) February 17, 2025
The last-known full audit of Fort Knox’s gold reserves occurred in 1953.
A partial review took place in 1974 when treasury officials and journalists were allowed to inspect a small portion of the gold. Since then, the facility has maintained strict no-visitor policies, with limited oversight of its holdings.
The US has the largest gold reserves in the world, with over 8,100 metric tons, according to the World Gold Council.
Fort Knox alone houses approximately 147 million troy ounces of gold, currently worth about US$426.3 billion.
While the US Department of the Treasury maintains that the gold remains intact, the absence of recent independent audits has led to speculation. The issue gained renewed attention after Australia discovered counterfeit gold in the Bank of England’s reserves, raising concerns about the authenticity of stored bullion worldwide.
Some financial analysts argue that a lack of transparency at Fort Knox could erode confidence in US gold reserves, particularly at a time when central banks worldwide are increasing their gold holdings.
As mentioned, Musk has indicated that DOGE could be tasked with conducting the audit.
The recently formed department has been involved in reviewing various government agencies, including the US Agency for International Development and the Consumer Financial Protection Bureau.
Musk has not provided specific details on how DOGE would carry out the audit, or whether government approval would be required. However, his involvement has generated significant public interest, with some speculating that private sector oversight could push for more transparency in government gold reserves.
The discussion over Fort Knox’s gold reserves comes as the gold price continues to rise.
Goldman Sachs (NYSE:GS) has boosted its year-end gold price forecast to US$3,100 per ounce, and worries over inflation and economic instability have increased demand for the metal.
At the same time, the debate has drawn comparisons to Bitcoin, with some arguing that digital assets provide a more transparent alternative to traditional gold reserves.
Musk’s comments have fueled speculation over whether missing or mismanaged gold reserves could drive further interest in cryptocurrency as a store of value.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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It’s no secret that the silver market can be incredibly volatile. From February 2024 to February 2025 alone, silver has seen price levels ranging from lows of US$22.42 per ounce to highs of US$34.72 per ounce.
Many investors are highly focused on the precious metal’s movement. After all, silver is a safe-haven asset that generally fares well during turmoil, and recent times have been packed with tense geopolitical events, environmental disasters and economic uncertainty. While it’s trended up over the last 12 months, silver has struggled to maintain the US$30 level.
Why is silver going up? With the support of looming lower interest rates, lower holding costs for bullion, increased central bank interest in precious metals, and the threat of trade wars under US President Donald Trump, the price of silver is trading at highs not seen in nearly decade. But, can silver go even higher? And when?
Answering the question, “When will silver go up?” is tricky. Even seasoned analysts can’t tell the future, and it’s difficult to find a consensus on the topic of when the metal could take off.
Nevertheless, it’s definitely possible to track down different opinions on the topic. Market participants interested in investing in silver would do well to keep these ideas top of mind as they try to determine where the spot price may move.
In this article
What is silver’s price performance year-on-year?
It’s useful to look at silver’s past price performance when trying to determine when silver will go up.
As mentioned, silver has had ups and downs over the past year, although it has largely been trending higher.
Early in 2024, silver fell to a low of US$22.08 per ounce on January 21, and traded mostly flat for much of the remainder of the first quarter before rising to a Q1 high of US$25.62 on March 20. While it had long seemed like silver would never go up above US$30, the upward momentum in the second quarter sent the silver price surging by nearly 40 percent to a 12 year high of US$32.33 per ounce on May 20.
In Q3 2024, the price of silver slid down below the US$27 mark to a low of US$26.64 on August 7, tracking its industrial cousin copper, but pulled back above US$30 in mid-September.
Moving into Q4, in October the price of silver continued to the upside, brought along by upward momentum in the gold price as the yellow metal repeatedly broke record highs. By October 22, the precious metal reached US$34.72 per ounce, its highest level in 12 years.
This rally came in the lead-up to the US election while Middle East tensions were escalating and the possibility of coming Fed interest rate cuts drove safe-haven demand for precious metals. Positive sentiment for stronger industrial demand was also supportive of silver prices.
However, silver encountered resistance in the lead up to the US presidential election as investors began to favor interest-bearing assets more. By November 27, the price of silver had retreated to a quarterly low of US$30.11 per ounce.
By December 11, the metal was trading at US$31.88 in anticipation of a rate cut by the Federal Reserve. The Fed’s rate cut of 25 basis points and hawkish sentiment toward any future rate cuts spurred profit-taking on the part of investors, sending the silver price down to US$29.69 per ounce on December 19.
Silver’s performance from February 9 2024, to February 10, 2025.
So far in the first quarter of 2025, silver is tracking gold higher on rising geopolitical concerns, as well as persistent inflationary pressures brought on by Trump’s aggressive tactics with tariffs and the risk of the Fed keeping interest rates higher for longer.
As of February 7, 2025, the price of silver had risen nearly 10 percent since the beginning of the year.
What factors affect silver supply and demand?
Now that the silver price is trading above US$30, investors wondering if now is a good time to sell silver or buy it should evaluate its current fundamentals. Global geopolitical events and rate changes from the US Federal Reserve are key factors to watch when it comes to silver.
Growing expectations that the Fed is not keen on lowering interest rates further and rising geopolitical uncertainties are responsible for this latest peak in silver prices. Additionally, macroeconomic conditions are supporting silver industrial demand.
Silver’s potential to continue its upward trajectory will ultimately depend on the ability of these factors to support prices above the critical US$30 level.
What do we know about silver supply and silver demand? Many market watchers look to the World Silver Survey for information; it is published each year by the Silver Institute using data provided by Metals Focus. While we await the 2025 World Silver Survey publication expected in April, we can take a look at the Silver Institute’s January 2025 silver market forecast, backed by Metals Focus research.
The Silver Institute expects to see the silver market record its fifth consecutive supply deficit in 2025 as industrial demand for silver is projected to reach record volumes.
‘Concerns about US President Donald Trump’s anticipated tariff policies have fueled short covering and deliveries of silver (and other precious metals) into CME warehouses since late 2024,” the firm stated. “This, coupled with rising economic and geopolitical uncertainties, has underpinned a healthy recovery in silver prices since the start of 2025.”
Overall silver demand is forecast to reach 1.2 billion ounces, driven by both industrial applications and retail investment. Demand-side growth will likely be tempered by weakness in the jewelry and silverware sectors.
Looking more specifically at silver industrial fabrication, this segment is expected to see 3 percent growth for the year, bringing volumes past the 700 million ounce mark for the first time. The solar photovoltaics, automotive industry and consumer electronics are seen as the biggest drivers of this demand growth.
In terms of physical silver investment, forecasters expect to see a 3 percent jump, especially on demand from Europe and North America.
On the supply side, the Silver Institute’s outlook includes 3 percent growth in total global silver supply in 2025 to reach an 11 year high of 1.05 billion ounces. This gain is expected to come from a seven-year high in silver mine production at 844 million ounces as output increases out of both existing and new mines, particularly in China, Canada, Chile and Morocco.
Silver recycling is expected to increase by 5 percent to a 13-year high of more than 200 million ounces.
Despite this growth on the supply side, the silver market is forecast to post a deficit at 149 million ounces in 2025.
What is the outlook for silver?
“Silver also typically lags gold, then catches up and surpasses it. We’re starting to see that happen in spades right now. Since the end of February, gold is up about 15 percent, while silver is up about 22 percent. Those are breathtaking gains in just a matter of weeks,” he said.
Moving forward, Krauth sees decreasing silver inventories at the COMEX, London Bullion Market Association and the Shanghai Gold Exchange as a major driver of the silver price in 2024. However, silver’s industrial side is another factor to watch this year. Concerns over a looming recession may dampen gains; on the flip side, interest rate cuts may spur economic growth and provide upside for the silver price.
‘Maybe we’ll see a test of US$28, maybe even sort of a washout test as low as US$26. But I don’t see much weaker than that … (and) if we do drop below, ultimately we will regain US$30 and that will become a new floor,’ he said.
‘I think silver in the long term — everything that we’ve talked about is why it’s still to me a good long-term bet,’ Marcus said. ‘In the short term I would expect you’re going to see it pretty darn volatile. I mean, is there a chance for US$50 this year? There are scenarios in which that could happen, but I don’t know that I would say that we’re in a guarantee of that. But certainly with some of the things that are building beneath the surface, yeah it’s possible.’
Peter Krauth, author of ‘The Great Silver Bull’ and editor of the Silver Stock Investor, is also looking for silver to reach US$35 in the first quarter of 2025, with the metal possibly hitting US$40 or more later in the year.
However, he cautions investors that broader macroeconomic trends could put a damper on silver price gains. “There is a serious risk of significant correction in the broader markets and of a recession. A broad market selloff could bleed into silver stocks, even if only temporarily,” Krauth said.
For investors, a key point to remember is that the resource space operates cyclically — while a commodity like silver can experience price rises and falls, ultimately what goes up must come down and vice versa. The advice to “buy low and sell high” is repeated often for a reason, and though it’s nigh impossible to predict market bottoms, low points in the cycle can be a good time to flex your purchasing power.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Investors interested in the life science sector are well aware of the importance of biotechnology.
From finding cures for diseases to feeding future generations, many areas of day-to-day life are influenced by players in the biotechnology space, and expert projections show the industry’s future looks bright.
But how can investors gain exposure to biotechnology? Here’s a brief overview of how to invest in the expanding biotechnology market, from stocks to watch to exchange-traded funds (ETFs).
How to invest in biotechnology stocks?
The main method of investing in the biotech sector is through stocks. Right off the bat, when investing in the biotech sector it’s important to understand that there is a difference between a biotech company and a pharmaceutical company.
“From a philosophical standpoint, biotechnology is a risk-taking enterprise, while the pharmaceutical industry is about managing and diversifying risk,” Investopedia explains in an article. Notably, the publication points out that biotech stocks tend to have insignificant revenue compared to pharmaceutical stocks.
When investing in biotech, investors should also pay attention to the US Food and Drug Administration (FDA), which requires that all companies in the sector establish sufficient bodies of information to show that their drugs are safe and effective. That is generally accomplished in the clinical trial phase of product testing, which typically consists of a series of three clinical studies.
Additionally, as with most other sectors, when investing in biotechnology stocks investors must decide on the level of risk they are willing to take. For instance, a large, established biotechnology company with a multibillion-dollar market cap is less likely to succumb to bad market conditions than a more speculative, newly listed company in the clinical trial phase.
How to invest in biotechnology ETFs?
While investing in biotech stocks is generally the more popular choice when it comes to getting involved in the sector, ETFs are a way to mitigate some of the risks that are inherent with investing in stocks.
ETFs hold assets like stocks, commodities and bonds, and trade close to their net asset value. Typically, ETFs track an index. For biotechnology, there are several indexes that can be followed, including the S&P Biotech Select Industry Index (INDEXSP:SPSIBI), the NYSE Arca Biotechnology Index (INDEXNYSEGIS:BTK) and the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI).
The largest ETF in the biotech sector is the SPDR S&P Biotech ETF (ARCA:XBI), which launched on February 6, 2006, and tracks 137 holdings in its portfolio. Its top three weighted companies are Crinetics Pharmaceuticals (NASDAQ:CRNX), Exelixis (NASDAQ:EXEL) and Dyne Therapeutics (NASDAQ:DYN).
The second largest biotech ETF is the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB), which launched on February 5, 2001. This ETF tracks 218 holdings, with the top three — Gilead Sciences (NASDAQ:GILD), Amgen (NASDAQ:AMGN) and Regeneron Pharmaceuticals (NASDAQ:REGN)— weighted at close to or over 8 percent each.
Investors may also want to consider small biotech ETFs — click here for an overview.
What’s the outlook for biotechnology?
It’s often a slow wait when it comes to gains in the biotech market as companies rely on FDA approvals and feedback.
In terms of the sector’s future outlook, Grand View Research predicts that the global biotechnology market will have a compound annual growth rate of 13.96 percent between 2024 and 2030 to reach US$3.88 trillion by the end of the forecast period.
It attributes this growth to the increasing need for new drugs to treat chronic diseases, such as strokes, cancer, asthma and hypertension. The focus is on diagnostics and therapeutic solutions for these chronic diseases. There is also increasing demand for biotechnology innovation in the agriculture sector in response to rising demand for organic food products.
For its part, Verified Market Research is forecasting the global biotechnology market will reach a value of more than US$5.25 trillion in 2030. The firm sees significant advancement and investment in research and development, the rising prevalence of infections and chronic diseases, and increasing government and regulatory support as major drivers of revenue growth for this life science sector in the coming years.
The nanotechnology drug market is a subsector of the biotech space that is also expected to see major growth in the coming years. Precendence Research forecasts that this sector will experience a CAGR of 8.13 percent between 2023 and 2032 to reach a total value of US$183.11 billion.
‘Nanotechnology is critical in the development of drug-delivery technologies that have the potential to expand the medical market,’ stated the report. ‘Nanotechnology can enhance the efficacy of medications that have failed clinical trials. It provides drug delivery systems, treatment, and management for chronic diseases like cancer, HIV/AIDS, and diabetes.’
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any of the companies mentioned in this article.
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Investor Insight
Providence Gold Mines’ portfolio of past-producing gold assets with a resource potential of 1 to 4 million ounces, makes it a compelling investment opportunity for investors seeking exposure to undervalued, high-potential gold assets amid a current gold bull market.
Overview
Providence Gold Mines (TSXV:PHD,OTCQB:PRRVF,GR-FRANKFURT:7RH1) is a junior gold exploration company focused on the revitalization of the historic Providence Group of Mines and further unlocking the potential of its high-grade gold deposits within the Mother Lode Gold Belt in Sonora, California. This prolific gold district has historically reportedly produced over 128 million ounces of gold, making it one of the most significant gold-producing regions in North America.
Providence Gold is strategically positioned to benefit from the current gold bull market, as global economic uncertainty, inflationary pressures, and rising demand for safe-haven assets continue to drive gold prices to historic highs. With a portfolio of past-producing gold mines, high-grade drill targets, and a near-term pathway to production through stockpile processing, the company is poised to potentially generate significant value for shareholders. The Providence Group of Mines consists of seven patented mineral claims: Bonita, Consuelo, Fair Play, Good Enough, McCarthy, Mexican and Providence.
This past-producing gold asset was historically one of the more famous high-grade mines in the Mother Lode Belt, with reported production grades exceeding 1 oz/ton (or 31 g/t gold). Mining operations ceased in 1916, leaving behind significant unmined high-grade ore at depth, as well as gold-bearing stockpiles that have since been identified as a near-term cash flow opportunity.
Providence Gold Mines is led by professionals with extensive experience in discovery of new mines in the mother lode district and corporate finance. Their combined expertise in geology, capital markets and project execution positions the company for successful exploration and potential near-term production. This, combined with high-grade historical production, modern geological exploration techniques, and near-term catalysts, Providence Gold is well-positioned to emerge as a high-value gold exploration and development play in a rising gold market.
Company Highlights
- Providence Gold controls a portfolio of gold mines in Tuolumne County, California, situated in the heart of the historic Mother Lode district, a region that has produced over 128 million ounces of gold to date.
- The Providence Group of Gold Mines, consisting of seven patented staked mineral claims, was historically a high-grade producer, with reported grades grossly exceeding 1.0 oz/ton.
- The company has identified gold-bearing stockpiles from historical operations that could provide an immediate cash-flow opportunity through simple gravity-based processing.
- Utilizing 3D terrestrial LIDAR laser scanning technology and traditional exploration methods, Providence Gold has identified new high-grade drill targets beneath and between historical stopes, supporting a resource potential estimate of 1 to 4 million ounces.
- The company has outlined a 4,000-meter core drilling program, targeting high-grade zones identified through 3D modeling, trenching and soil geo chemistry and traditional mapping.
Key Project
Providence Group of Mines
The Providence Group of Mines, located in Tuolumne County, California, sits within the Mother Lode Belt, a historic gold-producing region responsible for over 128 million ounces of gold production since the 19th century. The Mother Lode Belt is one of the most significant gold districts in the United States, characterized by high-grade mesothermal vein-hosted orogenic gold deposits. The district features structurally controlled mineralization associated with regional shearing and faulting, forming a series of gold-bearing quartz veins that have been the focus of both historic and modern mining operations.
Gold mining at the Providence Mines dates back to 1894, with extensive production recorded until 1916. At the time of closure, the mine was actively extracting high-grade ore, but operations ceased due to a dispute and a regional fire that destroyed surface infrastructure, rather than depletion of mineral resources. Historical reports indicate the mine’s lower levels, specifically from the 10th to 12th levels, were actively being developed into rich ore shoots at the time of shutdown, suggesting that significant mineralization remains in place.
The ore shoots within the Providence Gold system are reported to have historically produced between 30,000 to 50,000 ounces per stope, with average gold grades exceeding 1 oz/ton (31 g/t gold). The McCarthy Mine, one of the key areas within the Providence Group, has returned surface samples with gold assays ranging from 77 g/t to 97 g/t gold, further demonstrating the district’s exceptional high-grade potential. Importantly, the historical mine workings only reached a depth of 100 feet, leaving down-dip extensions of the ore body entirely unexplored.
Modern structural interpretations and geophysical surveys suggest that gold mineralization at Providence is open at depth and along strike, with a strong likelihood of additional undiscovered high-grade ore shoots. Given that mining operations in the early 20th century were limited by technology and capital, the potential for discovering new gold zones using modern exploration techniques remains highly attractive.
Exploration and Development Plans
Providence Gold has embarked on a multi-phase exploration strategy designed to assess the down-dip and strike extensions of near surface, historically mined high-grade gold veins, as well as evaluate the potential for bulk-tonnage, low-grade gold mineralization at surface. The company’s technical approach integrates cutting-edge technologies, including 3D terrestrial LIDAR scanning, geophysical surveys and targeted diamond drilling.
One of the most significant near-term opportunities is the processing of historical stockpiles, which were initially misclassified as waste but have since been confirmed to contain gold mineralization. Recent trenching and bulk sampling returned positive assay results, with recovery tests demonstrating that gold can be efficiently extracted using simple crushing and gravity separation methods. Since the stockpile material is already milled, this initiative could provide a near-term source of revenue while exploration drilling advances.
The primary exploration initiative at Providence is a 4,000-meter core drilling program, targeting previously untested areas near surface, beneath and between the historical stopes. The company has identified high-priority drill targets based on 3D geological modeling and interpretation of compiled data, which suggest that gold-bearing structures extend well beyond the historically mined zones.
Another key aspect of Providence’s exploration strategy is the development of a digital 3D mine model, integrating historical production data, drill results, 3D Lidar surveys and structural interpretations. This modeling enables the team to simulate mineralized zones, predict ore shoot continuity, and optimize future mining scenarios.
Near and Long-term Development Plan Going Forward
In the near-term, the company has identified gold-bearing stockpiles from historical operations that could provide an immediate cash-flow opportunity through simple crushing and gravity-based processing.
In the long-term, Providence remains focused on developing its assets through a phased approach which includes:
- Phase 1 Drilling (2025-2026): Targeting high-grade extensions of previously mined stopes, validating historical resource potential.
- Phase 2 Resource Definition (2025-2026): Expanding the drill program to delineate an NI 43-101 compliant resource, incorporating both high-grade underground targets and bulk-tonnage surface mineralization.
- Permitting & Development (2028+): Advancing toward potential production, leveraging California’s permitting framework and existing infrastructure within the Mother Lode Belt.
Management Team
Ronald A. Coombes – President, CEO & Director
Ronald Coombes brings over 25 years of experience in mineral exploration and project development. He has successfully managed multiple mining ventures, including a molybdenum project that grew from a $1.5 million to $288 million market cap in just 12 months. Throughout his career, Coombes has reviewed and assessed over 100 mining projects across Canada, the US and Mexico, specializing in fundraising, acquisitions and early-stage resource development. He is also a director of Lincoln Mining, which is currently advancing the Pine Grove Gold Deposit in Nevada.
Rodger Young – Chairman, Vice-president & Director
Rodger Young has extensive expertise in international financing, particularly in the natural resources sector. He was the founder and director of a major finance house based in London, specializing in raising capital for mining and resource-based projects. His experience in corporate governance, financial structuring, and investment strategies provides Providence Gold with a strong foundation for securing capital and advancing its projects.
Dr. Lee Groat – Qualified Person & Senior Advisor
Dr. Lee Groat is a renowned geologist and professor at the University of British Columbia. With expertise in structural geology, economic mineral deposits, and exploration strategy, he has contributed significantly to advancing mineral projects globally. His technical leadership ensures Providence Gold’s exploration programs are guided by cutting-edge geological analysis and best industry practices.
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Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the results of its Definitive Feasibility Study (DFS) for the Becancour Lithium Carbonate Refinery in Quebec, Canada. The Company previously released a Preliminary Feasibility Study in October 2024. The follow-up DFS confirms the viability of a strong lithium conversion project, even within a below-average pricing environment. The Company plans to build a reliable, lowrisk lithium conversion refinery with an annual capacity of up to 18,270 tonnes, utilizing proven expertise from the Jiangsu processing model. The facility will produce environmentally friendly, battery-grade lithium carbonate. The Company aims to establish a Canadian-based lithium chemicals business, purchasing spodumene feedstock from both domestic suppliers and international markets, including Brazil and Africa and producing a battery grade lithium carbonate product. This aligns with the Company’s broader vision of contributing to the North Atlantic lithium supply chain and closing the Lithium Conversion Gap.
The project’s economics continues to be highly favourable, even with conservative price assumptions. The refinery is economically viable with a pre-tax Net Present Value (NPV) of approximately US$718 million, using an 8% discount rate, and a pre-tax Internal Rate of Return (IRR) of around 21.0%. The full rate payback period is estimated at 3.9 years.
The financial model is built on cautious price forecasts of US$1,170 per tonne for spodumene concentrate (SC6) and US$20,970 per tonne for battery-grade lithium carbonate equivalent (LCE). LU7’s directors believe they have a reasonable basis for using the assumed price in the study of US$20,970 per tonne for battery grade lithium carbonate. Key operational assumptions include 86% plant availability and 88% lithium recovery. At full production capacity, the project is expected to generate approximately US$383 million in annual revenue, with costs totalling around US$236 million, leading to an annual EBITDA of approximately US$148 million and a gross margin of in the region of 39%. Post-tax, the NPV at an 8% discount rate is estimated at approximately US$449 million. The capital cost for the project is estimated at US$549 million, which includes a contingency of US$51 million. The capital cost has risen by 11% compared to the PFS, primarily driven by the inclusion of a Zero Liquid Discharge (ZLD) system (US$30 million) to enable the recycling and reuse of all process water on-site. Additional factors, such as escalation and updated pricing quotes, also contributed to this modest increase. The capital costs estimate is based on advanced design specifications from the Jiangsu Lithium Refinery model, ensuring robust financial planning and projection. These factors highlight the project’s strong financial viability, even under conservative pricing conditions.
Chairman’s Comment
Lithium Universe Chairman, Iggy Tan said ‘The strong NPV and returns for the project indicate an economically viable project and the Board has made the Financial Investment Decision (FID), and the project is now proceeding to the funding stage.
An equity and debt adviser will be engaged to lead the funding outreach program, aimed at securing strategic partners at the project level to support project financing. Initial discussions with various banks and debt providers have been encouraging.
The Company will continue discussions with interested OEMs with spodumene offtake supply seeking conversion outside of China. We are confident that the Becancour lithium refinery, with an annual capacity of 18,270 tonnes, will emerge as a leader in producing green, battery-grade lithium carbonate. We recognized that bridging the lithium conversion gap in North America, leveraging our accumulated lithium expertise and the proven technology from Jiangsu, is a clear strategy.’
‘Our counter-cyclical strategy is centered on advancing projects during market downturns, allowing us to strategically position ourselves for growth as the market rebounds. We are dedicated to funding and constructing a proven, low-risk lithium conversion refinery in Quebec, marking the first step toward establishing Quebec as the lithium conversion hub for the Transatlantic region.’
To view the VIDEO, please visit:
https://www.abnnewswire.net/lnk/N50A4W00
*To view the full Feasibility Study, please visit:
https://abnnewswire.net/lnk/D1EI5591
About Lithium Universe Ltd:
Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.
Source:
Lithium Universe Ltd
Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com
Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com
News Provided by ABN Newswire via QuoteMedia
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