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Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Michael Meding of McEwen Copper joined the Investing Information Community to focus on latest information from their respective corporations and to share their recommendation for buyers.
Setting the stage, McEwen stated he thinks the value of gold is at a seasonal low and is poised to maneuver up within the fall.
“When you take a look at the seasonality of gold, the summer season is usually some extent of much less curiosity and weaker costs,” he stated. “I’d count on as we transfer to September, October we will see the value climbing — I do not imagine rates of interest are going to trigger a everlasting softness within the value. I feel it could possibly be short-term; the trajectory for gold is greater by September, October.”
Regardless of setbacks initially of the yr, McEwen stated McEwen Mining is because of meet its annual steering of 150,000 to 170,000 gold equal ounces. The corporate’s H1 output got here in at about 66,000 gold equal ounces.
For his half, Meding spoke about McEwen Copper’s up to date preliminary financial evaluation for the Los Azules copper venture in Argentina. He described the asset as a “mine for the long run,” and highlighted the efforts the corporate is making to decrease its carbon footprint and water consumption. He expects these qualities to attraction to future finish customers.
“I feel individuals are increasingly more ESG centered — they need to have moral manufacturing, they need to have low-environmental-footprint manufacturing,” stated Meding, including that corporations might finally be capable of cost a premium for “inexperienced copper” produced with renewable vitality and with low carbon emissions. “We’re ready to ship that.”
In closing, McEwen shared his recommendation for buyers, encouraging them to have a look at key commodities.
“I’d counsel that (buyers) consider including to their portfolio publicity to meals and grains, to vitality and to valuable metals — there are numerous autos to try this in, and it is determined by your threat profile,” he commented. “However we will want all of these, and if we get into an inflationary atmosphere the costs of all of these are going up.”
Watch the interview above for extra from McEwen and Meding on gold and copper.
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Securities Disclosure: I, Charlotte McLeod, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: The Investing Information Community doesn’t assure the accuracy or thoroughness of the data reported within the interviews it conducts. The opinions expressed in these interviews don’t replicate the opinions of the Investing Information Community and don’t represent funding recommendation. All readers are inspired to carry out their very own due diligence.
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