Gold Surged to $4,000, But Mining Valuations Remained Steady: 3 Key Stocks to Explore
Current Market Dynamics: Despite gold miners experiencing significant price increases, with GDX and GDXJ doubling in value, approximately $5 billion has exited mining ETFs, indicating a lack of confidence among investors and suggesting that the mining sector is under-owned rather than overcrowded.
Central Bank Influence: Central banks have become major net buyers of gold, purchasing 750-900 tonnes annually, which is significantly higher than previous years, while global mine supply is only growing by about 1%, creating a structural supply-demand imbalance.
Trading Strategies: Retail traders are advised to focus on high-quality miners like Newmont, Barrick, and Agnico Eagle, which have strong balance sheets and growth potential, while managing risk through defined position sizes and stop-loss strategies.
Market Outlook: The upcoming December FOMC meeting is a key event to watch, as the Fed's decisions on interest rates could impact gold prices and miner valuations, but the overall trend of increasing central bank demand and limited supply growth suggests continued opportunities in the mining sector.
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i-80 Gold Secures Up to $500M Financing Package
- Financing Overview: i-80 Gold announced it has secured a financing package of up to $500 million, which includes a $250 million royalty sale to Franco-Nevada and a gold pre-payment facility of up to $250 million, aimed at supporting its recapitalization plan and establishing itself as a mid-tier gold producer in Nevada.
- Recapitalization Strategy: The company plans to retire and replace existing convertible debentures with more favorable terms and potentially sell a non-core asset to complete its recapitalization plan targeting an overall amount of $900 million to $1 billion, enhancing its financial flexibility.
- Royalty Agreement Details: The agreement with Franco-Nevada includes a 1.5% life-of-mine net smelter return royalty, increasing to 3.0% in 2031, applicable to all of i-80 Gold's material properties, ensuring long-term revenue generation.
- Production Target Outlook: i-80 Gold aims to achieve annual gold production exceeding 600,000 ounces by the early 2030s, with CEO Richard Young stating that the foundational capital provided by Franco-Nevada lays a solid groundwork for the company's future growth.
Franco-Nevada Acquires $250M Royalty from i-80 Gold
- Royalty Acquisition: Franco-Nevada has entered into an agreement to acquire a $250 million net smelter return royalty from i-80 Gold through a wholly-owned U.S. subsidiary, with an initial royalty rate of 1.5% that will increase to 3.0% starting in 2031, supporting i-80 Gold's recapitalization plan and its strategy to become a mid-tier gold producer focused on Nevada.
- Extensive Project Coverage: The royalty applies to all of i-80 Gold's significant assets, including six projects at various stages of development, covering over 250 square kilometers of prospective ground, which is expected to significantly enhance its future gold production capacity.
- Production Capacity Increase: i-80 Gold plans to increase annual production from 150,000 to 200,000 ounces of gold in Phase 1 to over 600,000 ounces by Phase 3 in 2032, which is anticipated to generate substantial revenue growth and enhance market competitiveness.
- Strategic Financial Support: Franco-Nevada intends to finance the transaction using its $900 million in cash and cash equivalents, demonstrating its strong financial position and confidence in gold investments, further solidifying its leadership in the gold royalty and streaming sector.
Franco-Nevada Acquires $250 Million Royalty from i-80 Gold
- Royalty Acquisition: Franco-Nevada has acquired a $250 million net smelter return royalty from i-80 Gold through a wholly-owned subsidiary, with an initial rate of 1.5% increasing to 3% in 2031, supporting i-80 Gold's recapitalization plan to become a mid-tier gold producer in Nevada.
- Project Development Timeline: i-80 Gold aims to ramp up annual production from 30-40 koz in 2025 to over 600 koz by 2032, with a three-phase development plan that includes achieving 150-200 koz in Phase 1 by 2028-2029, significantly enhancing its competitive position in the gold mining sector.
- Financing and Processing Hub: This financing will provide substantial capital for advancing Phases 1 and 2, particularly refurbishing the Lone Tree Autoclave facility to establish a central processing hub that optimizes operations across multiple underground mines.
- Mineral Resource Potential: The royalty covers a substantial mineral resource base of 7.8 million ounces of measured and indicated resources across a 256 km² land package, indicating strong long-term growth potential and opportunities to create greater value for all stakeholders.
FRANCO-NEVADA CORP: RAYMOND JAMES INCREASES TARGET PRICE TO $304, UP FROM $280
Company Update: Franco-Nevada Corp has raised its target price for Raymond James.
New Target Price: The new target price is set at $304, an increase from the previous $280.
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
Gold, Copper, and Missiles: Three Major Dividend Increases Following a Successful Year
2025 Performance Highlights: The aerospace and defense sectors saw significant returns in 2025, with the iShares U.S. Aerospace & Defense ETF delivering nearly 49% and the SPDR S&P Metals & Mining ETF achieving around 83%, marking their best performances in over a decade.
Franco-Nevada's Dividend Increase: Franco-Nevada Corporation announced a substantial 16% increase in its quarterly dividend to $0.44, driven by strong gold and silver prices, and expects to continue rewarding shareholders with consistent payouts.
Southern Copper's Strong Returns: Southern Copper Corporation reported a remarkable 68% total return in 2025, alongside a 11% increase in its quarterly cash dividend to $1.00, reflecting its position as a leading copper producer.
L3 Harris Technologies' Dividend Growth: L3 Harris Technologies declared a quarterly dividend of $1.25, representing a 4% increase, and is focused on maintaining a controlling stake in its missile solutions business while also planning to spin off this segment into a publicly traded entity.
i-80 Gold Secures Up to $500M Financing Package
- Financing Overview: i-80 Gold announced it has secured a financing package of up to $500 million, which includes a $250 million royalty sale to Franco-Nevada and a gold pre-payment facility of up to $250 million, aimed at supporting its recapitalization plan and establishing itself as a mid-tier gold producer in Nevada.
- Recapitalization Strategy: The company plans to retire and replace existing convertible debentures with more favorable terms and potentially sell a non-core asset to complete its recapitalization plan targeting an overall amount of $900 million to $1 billion, enhancing its financial flexibility.
- Royalty Agreement Details: The agreement with Franco-Nevada includes a 1.5% life-of-mine net smelter return royalty, increasing to 3.0% in 2031, applicable to all of i-80 Gold's material properties, ensuring long-term revenue generation.
- Production Target Outlook: i-80 Gold aims to achieve annual gold production exceeding 600,000 ounces by the early 2030s, with CEO Richard Young stating that the foundational capital provided by Franco-Nevada lays a solid groundwork for the company's future growth.
Franco-Nevada Acquires $250M Royalty from i-80 Gold
- Royalty Acquisition: Franco-Nevada has entered into an agreement to acquire a $250 million net smelter return royalty from i-80 Gold through a wholly-owned U.S. subsidiary, with an initial royalty rate of 1.5% that will increase to 3.0% starting in 2031, supporting i-80 Gold's recapitalization plan and its strategy to become a mid-tier gold producer focused on Nevada.
- Extensive Project Coverage: The royalty applies to all of i-80 Gold's significant assets, including six projects at various stages of development, covering over 250 square kilometers of prospective ground, which is expected to significantly enhance its future gold production capacity.
- Production Capacity Increase: i-80 Gold plans to increase annual production from 150,000 to 200,000 ounces of gold in Phase 1 to over 600,000 ounces by Phase 3 in 2032, which is anticipated to generate substantial revenue growth and enhance market competitiveness.
- Strategic Financial Support: Franco-Nevada intends to finance the transaction using its $900 million in cash and cash equivalents, demonstrating its strong financial position and confidence in gold investments, further solidifying its leadership in the gold royalty and streaming sector.
Franco-Nevada Acquires $250 Million Royalty from i-80 Gold
- Royalty Acquisition: Franco-Nevada has acquired a $250 million net smelter return royalty from i-80 Gold through a wholly-owned subsidiary, with an initial rate of 1.5% increasing to 3% in 2031, supporting i-80 Gold's recapitalization plan to become a mid-tier gold producer in Nevada.
- Project Development Timeline: i-80 Gold aims to ramp up annual production from 30-40 koz in 2025 to over 600 koz by 2032, with a three-phase development plan that includes achieving 150-200 koz in Phase 1 by 2028-2029, significantly enhancing its competitive position in the gold mining sector.
- Financing and Processing Hub: This financing will provide substantial capital for advancing Phases 1 and 2, particularly refurbishing the Lone Tree Autoclave facility to establish a central processing hub that optimizes operations across multiple underground mines.
- Mineral Resource Potential: The royalty covers a substantial mineral resource base of 7.8 million ounces of measured and indicated resources across a 256 km² land package, indicating strong long-term growth potential and opportunities to create greater value for all stakeholders.
FRANCO-NEVADA CORP: RAYMOND JAMES INCREASES TARGET PRICE TO $304, UP FROM $280
Company Update: Franco-Nevada Corp has raised its target price for Raymond James.
New Target Price: The new target price is set at $304, an increase from the previous $280.
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
Gold, Copper, and Missiles: Three Major Dividend Increases Following a Successful Year
2025 Performance Highlights: The aerospace and defense sectors saw significant returns in 2025, with the iShares U.S. Aerospace & Defense ETF delivering nearly 49% and the SPDR S&P Metals & Mining ETF achieving around 83%, marking their best performances in over a decade.
Franco-Nevada's Dividend Increase: Franco-Nevada Corporation announced a substantial 16% increase in its quarterly dividend to $0.44, driven by strong gold and silver prices, and expects to continue rewarding shareholders with consistent payouts.
Southern Copper's Strong Returns: Southern Copper Corporation reported a remarkable 68% total return in 2025, alongside a 11% increase in its quarterly cash dividend to $1.00, reflecting its position as a leading copper producer.
L3 Harris Technologies' Dividend Growth: L3 Harris Technologies declared a quarterly dividend of $1.25, representing a 4% increase, and is focused on maintaining a controlling stake in its missile solutions business while also planning to spin off this segment into a publicly traded entity.
