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- Gold Surge: Gold prices have surged, with some stocks seeing gains over 15% in a few days, driven by rising long-term yields and inflation concerns.
- Interest Rates and Inflation: Long-term government bond yields are ticking up globally, with the US nearing 5%, as inflation ebbs but remains a concern in pockets worldwide.
- Mining Sector Optimism: The mining industry is experiencing optimism, particularly in gold and other commodities, with companies like Romelius, Northern Star, and Genesis seeing success.
- US vs. Australia Permitting: South 32’s CEO highlighted the efficiency of the US permitting process compared to Australia’s, emphasizing the need for clearer timelines and accountability in Australia.
- Corporate Debt Strategy: BHP’s recent $1.5 billion bond offering at 5.75% for 30 years reflects strategic borrowing in a low-interest environment, highlighting the company’s confidence in long-term inflation expectations.
- Investment Opportunities: The podcast discussed opportunities in small-scale mining projects in Africa and potential M&A targets, with a focus on companies like Orion and West Wits Mining.
- Market Dynamics: The changing ownership of mining projects can significantly impact royalty valuations, as seen with Elemental Altus Royalties’ acquisition of a portfolio centered on Genesis’ Leverton project.
