Rob McEwen of McEwen Mining (TSX:MUX,NYSE:MUX) and Michael Meding of McEwen Copper sat down to talk about the outlook for gold and copper, in addition to information from their respective firms.
For McEwen, the value trajectory for each metals is “larger,” though copper’s features will not be rapid.
With regards to gold, he has a long-term worth goal of US$5,000, and though the steel is effectively beneath that degree, McEwen believes it is shifting in the proper route with sturdy causes to purchase backing it up.
He additionally mentioned the disconnect between the gold worth and gold shares, commenting, “I discover that is the time to be shopping for, and I’ve been shopping for juniors and including to positions in firms. You simply want to keep in mind it is cyclical, and when it needs to run there are some very enticing features to be made — and the shares are low-cost proper now.”
For his half, Meding shared updates on McEwen Copper’s Argentina-based Los Azules copper undertaking.
The corporate is seeking to elevate $100 million to maneuver ahead on the asset, whose backers embrace carmaker Stellantis (NYSE:STLA) and Nuton, a Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) enterprise. Based on Meding, the plan is to launch a feasibility research for Los Azules by the primary quarter of 2025.
“There’s a very fascinating demand situation arising for copper, and I believe that Los Azules is the proper undertaking on the proper time — plenty of extra blue sky,” he mentioned, noting that the boundaries of the orebody have not but been discovered.
McEwen’s closing phrases centered on technique. “The mining sector has been ignored. It is typically been mentioned that contrarian traders make cash available in the market. Now’s the time to be a contrarian — purchase what’s ignored,” he mentioned.
Watch the interview above for extra from McEwen and Meding on gold and copper.
Do not forget to observe us @INN_Resource for real-time updates!
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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