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- ⛏ Election Impact
👷♀️ Greetings Contrarian!
This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and prepare a delicious barbecue. 🥩
📝 Here are the highlights
🧐 Election Impact
🤔 What’s Next for Heliostar?
🐦 BHP Uranium Shortfall
📌 Daily Commodity Prices
Source: TradingEconomics and Numerco.
🧐 Election Impact
Gold is set for its biggest weekly decline in over five months, down 1.7% as investors react to Donald Trump’s election victory and its potential impact on U.S. interest rates.
Spot gold fell 0.7% to $2,688.74 per ounce, while U.S. futures dropped 0.4%. Analysts suggest the market is still adjusting to the election results, likely prompting further consolidation in the near term.
The Fed’s recent 25-basis-point rate cut signalled caution on future cuts, with Trump's inflationary tariff policies possibly slowing rate-cut expectations.
Demand for physical gold softened in India amid price volatility, while silver, platinum, and palladium also posted weekly losses.
🤔 What’s Next for Heliostar?
Heliostar Metals Ltd. (TSXV: HSTR) completed its acquisition of Florida Canyon Gold Inc.'s mining assets in Mexico, including the San Agustin and La Colorada mines, plus the Cerro del Gallo and San Antonio projects, for $5 million.
This acquisition eliminates $20 million in contingent payments and $150 million in option payments, adding unhedged gold production capacity and expansion potential to Heliostar's portfolio.
CEO Charles Funk emphasized that the acquisition positions Heliostar for production growth and expansion, with 2024 production guidance and La Colorada expansion plans forthcoming.
📰 In Other News
🐦 BHP Uranium Shortfall
Got GPT o1 to read every public document from the last 2 years published by $BHP. Apparently each day Olympic Dam is offline, 22k pounds of #uranium won't make it to the spot market as BHP primarily sell their production into the spot market. LFG!! We're at 462k pounds lost.
— Gavin (@GavMcCracken)
5:11 AM • Nov 8, 2024
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Happy Speculating!
The Editor
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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