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Bullboard - Stock Discussion Forum Western Copper and Gold Corp T.WRN

Alternate Symbol(s):  WRN

Western Copper and Gold Corporation is a Canada-based mining company. The Company is engaged in developing the Casino Project. The Casino Project is a copper-gold mining project in Yukon, Canada. The Casino porphyry copper-gold-molybdenum deposit is located in west central Yukon, in the northwest trending Dawson Range mountains, approximately 300 kilometers (km) northwest of the territorial... see more

TSX:WRN - Post Discussion

Western Copper and Gold Corp > WRN with Gold @ 2,500.00 us ???
View:
Post by Marine2 on Apr 02, 2024 9:56am

WRN with Gold @ 2,500.00 us ???

WRN share price could be pushed up by gold values !

WRN $10.00 CD,,  new gold value ?

Live Gold Price: US Dollar

XAUUSD

2,262.56
+16.38
Apr 02, 2024 09:42:46 EST
LOW
2,246.65
HIGH
2,266.80
ASK
2,262.77
CHG
0.73%

24 Hour Gold

 

Gold price hits new record highs as the West loses price-setting powers: Frank Giustra & Pierre Lassonde on new geopolitical reality & resource nationalism

 

Kitco News
 

The Leading News Source in Precious Metals

(Kitco News) - As gold set another record high, Canadian mining legends Frank Giustra, CEO of Fiore Group, and Pierre Lassonde, Chairman Emeritus at Franco-Nevada, say the West has lost its power to set the price of gold. Giustra and Lassonde also warn that in the new geopolitical reality of resource nationalism, Canada is failing its economy and citizens.
 

With gold futures hitting another record high of above $2,264 an ounce at the start of the second quarter, Giustra and Lassonde pointed to a major shift in the gold market.

"The world hasn't woken up yet. The marginal buyer of gold is no longer the U.S. It's no longer Europe. It's China. Between the country's central bank and the Chinese public, China takes up over two-thirds of all the annual production. They are the new marginal buyer. That's where the gold price is set," Lassonde told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, during Kitco Insights Interactive Mining Titans' Power Panel.

For what this means for the U.S. dollar and gold this year and beyond, watch the video above. 

BRICS Plus, which now includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, Ethiopia, Iran, and the United Arab Emirates, can get up one morning and say they are going "to back their collective new currency with gold," which they can now set to create more credit and reserves, Giustra pointed out.

A coordinated move by the BRICS Plus against the U.S. dollar could lead to violent results, he warned.

"No one wants war, but here's the problem — the U. S. is facing an existential threat. It's a national security issue," Giustra said. "If there's a sudden move towards replacing the U.S. dollar, meaning perhaps a BRICS announcement of a new currency [backed by] gold, I think then it would react quite violently."

Giustra also outlined the top geopolitical risks for 2024. For insights, watch the video above. 

Has Canada lost the battle for resources?

Securing critical metals for the energy transition has become a matter of national security for many countries. However, Canada is losing this battle, according to Giustra and Lassonde.

While many countries are facing massive metal shortages, Canada is distracted with overseas investments. For example, Canadian pension funds that represent CAD$2.7 trillion of Canadian savings have more invested in China than they do in Canada, which is unforgivable, Giustra and Lassonde told Kitco News.

More specifically, Canadian pension funds have less than 3% of their total assets invested in Canadian public companies, down from 28% in 2000.

"When you look at the mineral sector in Canada, it's been totally ignored by the government for the last 40 years. Our politicians, both at the federal and the provincial level, couldn't care less about the mining industry," Lassonde said. "Frank says we could lose the race. We've already lost the race."

Giustra pointed out that bold action is required to solve this crisis, but Canada lacks visionary leadership.

"Canada is endowed as one of the most prolific mineral countries on the planet, the second largest landmass in the world, and largely unexplored. [However], there is almost zero investment in the Canadian mineral sector. It's worrisome. Canada's in danger of losing out in this race for critical minerals," he said.

On what this all means for Canada's economy and some of the irreversible consequences, watch the video above. 

This panel is brought to you by Eagle Plains Resources

Eagle Plains is a mineral exploration company operating for 30 years with over 50 projects in Western Canada. The company has over $7M cash, generates significant revenue, has only 115M shares outstanding, and has never been rolled back.

Comment by Marine2 on Apr 02, 2024 4:49pm
Does WRN's Casino have gold ! LOL Gold not Copper may be the driver here for WRN ?? WRN @ 10.00 CDN ? Gold prices within striking distance of $2,300 as U.S. JOLTS shows job openings fall to 8.76 million   Published: 09:58 Updated: 10:12               (Kitco News) - Economic data continues to be ignored by the broader gold ...more  
Comment by Pinegrove1 on Apr 02, 2024 5:44pm
Gold now $2,301, Silver up 4.7% to 26.25 and copper at $4.08.  Very nice. 
Comment by Pinegrove1 on Apr 03, 2024 1:06pm
Up, up, up. Copper $4.19, gold $2312 and silver up another 4.3%  
Comment by jclarke042 on Apr 03, 2024 1:55pm
Our lack of participation today is odd, to say the least.
Comment by IvanRo on Apr 03, 2024 2:45pm
Considering how highly correlated we are to copper.price movements and to a lesser extent gold (but still a strong correlation) and both moving very strongly in a positive direction - it's very odd!
Comment by Sooner on Apr 03, 2024 3:11pm
Yeah - i added 5000 today. A day lag for WRN to catch up tomorrow !!!!!
Comment by Heywood_Silvers on Apr 03, 2024 5:42pm
Averaging up.......good stuff Sooner.  It's almost as if you have more conviction on WRN than I do!! I think I'll let you take the mantle of the perma bull.  That means you have to give up your $6 heard it here first prediction and adopt the double-digits or bust mantra. Welcome to the club my friend.........
Comment by Sooner on Apr 03, 2024 8:36pm
no - you're in the rare company of firmly believing WRN worth double digits....yet you are so convinced you think it's strange for me to buy at $1.5.... If i thought like you...i'd be buying hand over fist at these levels. I'm quite content with buying at $1.5 and turning that into $3 within a couple years....i don't have beer glasses on like you and soooooo convinced that ...more  
Comment by Heywood_Silvers on Apr 03, 2024 9:08pm
I get it Sooner, all joking aside, you're looking for a double or a triple.  Nothing wrong with that.  The average S & P investor would salivate over a double or a triple in a few years worth of time.  Sad truth is though, most investors (S & P crowd) strive for mediocrity, hence why the mutual fund industry is so popular.  The average investor doesn't think in ...more  
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