Western Copper and Gold Corp T.WRN

(BN) Copper Boom Is Just Beginning for the CEO of Gold Giant

[Bifrost]

Copper Boom Is Just Beginning for the CEO of Gold Giant Newmont
2021-04-29 16:28:51.795 GMT


By Daniela Sirtori-Cortina
(Bloomberg) -- Copper may be flirting with record highs but
the metal is far from peaking as the energy transition revs up,
according to Newmont Corp. Chief Executive Officer Tom Palmer.
Futures hit $10,000 a metric ton on Thursday for the first
time since 2011 as mines struggle to keep up with surging
demand. Newmont, the world’s largest gold producer, is
increasing exposure to copper through several “mega projects,”
Palmer said on an earnings call. Even if just one materializes,
copper will account for 15-20% of the company’s total output by
the end of the decade, he said.
“I’m pretty excited about having good exposure to copper at
that time when the world is going through the energy
transition,” Palmer said on an interview with Bloomberg TV
following the earnings call. “Copper’s got a pretty good story
in front of it. I think its day in the sun is more towards the
end of this decade.”
The copper push doesn’t mean Palmer has a downbeat view on
gold. He sees bullion prices holding their current “very healthy
levels” or even moving higher given fiscal and monetary
stimulus. India should remain one of the key sources of demand
after the country recovers from the Covid-19 tragedy, Palmer
said.

--With assistance from Alix Steel, Joe Deaux and Guy Johnson.

[jclarke042]

Saw that one too, and after listening to NEMs earnings call today, it's a terribly misleading line. The "mega projects" are three they're already involved in, Galore Creek, and two others somewhere in the Andes. I forget which country.  That said, you should all go to NEMs website and listen to the call. The "mega project" line comes between minutes 6-10, it

[jclarke042]

And yes, it's also good all around to hear they're getting serious about copper. I didn't mean to totally shoot down your post, if it came across like that.

[EvenSteven27]

Can't figure why they're putting Galore Creek ahead of Casino. Galore Creek has a good resource base, but that is treacherous underground/tunnel mining. Remember people have died here in the past. Both Coffee and Casino are open pit which is cheaper, safer, and easier to mine. Why take the difficult road?

[cb2task]

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[jclarke042]

Saw that too, you know that stuff drives me crazy. "But what about NEM's brand new Center for Indigenous People's???" The emptiness of virtue signaling exposed once again. Palmer had some particularly mealy-mouthed question to the analyst asking about this article yesterday. Something about a long track record of building long lasting relationships yadda yadda. He couldn't

[cb2task]

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[jclarke042]

And on the call he's talking about how GT can also be a big source of copper for them. I haven't looked at their resource but we have to be bigger.

[cb2task]

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[blueboron99]

CEO Tom Palmer is going to need some peanuts to feed his new white elephant project. Obviously, he wasn't communicating with the FN's group regarding the GT Gold project concerns, before jumping into purchasing the property, something was deficient! It sounds now, like Newmont is backed into a corner and the only way out is with $. It doesn't look good, and the FN's group will

[jclarke042]

This is what I was getting after yesterday with my questions on when is Coffee done with YEASB. Presumably NEM would want Casino as well and essentially combine the projects, Coffee is too small alone. Not they'd combine the assets on one deed/permit, but at least sharing resources - processing, storage, transportation, whatever else - to make both as profitable as possible.  Going off

[cb2task]

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[jclarke042]

Take the heap leach out of if then - pick any aspect of infrastructure Casino & Coffee can share. Since Coffee is going through permitting first, I'm assuming they'll start construction/production first. If we follow, and are going to share SOME aspect of the infrastructure, do we have to make mention of that anywhere in the PEA/FS/Permit application? If that part of the

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[jclarke042]

That's also what I was getting at below. He could very well have been brought on as a worst case, we have to find another plan. But I'm still assuming NEM is the plan, just wondering if we had the order of dominos wrong. Meaning, Coffee is the domino we need to fall first. Not our PEA/FS. 

[cb2task]

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[Heywood_Silvers]

All Canada will need to do is at some point in the future (wake up and smell the coffee) is realize that gold/silver are national security assets and tell the FNs they will get a negotiated piece of the pie and that the resources will be mined and eminent domain will be triggered. The FNs "own" their land like you and I "own" our land.  Under normal circumstances, sure

[blueboron99]

JC, this is the latest info I can locate on Newmont's Coffee project- https://www.whitehorsestar.com/News/yesab-recommends-approval-of-proposed-mine https://yesabregistry.ca/projects/00036ef5-c28e-46be-bfc3-4c48808d9c3c (bb-99)

[jclarke042]

Thanks Blue - lots of good info here.

[Sooner]

I think their resource about 5B lbs copper and 10M oz gold...about 1/2 of casino I believe. So they paid $311M usd for GT -we should get at least $600M or about $4.5usd per share based upon that ratio anyway. I know no one want to hear anything less than $10...so maybe I'm missing something 

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[EvenSteven27]

okay, Covid is hurting Newmont's Argentinan and Peruvian mines, and needless to say Peru is in political disarray which will take a long, long time to fix. Newmont grappling with COVID-19 chaos  BnamericasPublished: Thursday, April 29, 2021   Soaring COVID-19 cases are weighing on Newmont's Argentine and Peruvian mines, with impacts expected to linger