Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump’s ‘big, beautiful bill’ stalls in House amid...
Trump turns to Supreme Court in fight to...
House advances Trump’s massive agenda bill after fiscal...
Omaha city councilman mounts bid to succeed outgoing...
White House reveals highest-paid staffers–and 8 taking no...
Trump $3.3T megabill sets House record for longest...
Iran nuclear program set back 2 years after...
Airlines secretly sold US travelers’ data to Homeland...
White House reveals highest-paid staffers – and 8...
Jeffries stalls Trump’s ‘big, beautiful bill’ for hours...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Editor’s Picks: Gold Price Touches US$3,500 in Volatile Week, M&A Heats Up

by admin April 28, 2025
April 28, 2025
Editor’s Picks: Gold Price Touches US$3,500 in Volatile Week, M&A Heats Up

It was quite a week for the gold price.

The yellow metal continued its record-breaking streak early in the period, touching the US$3,500 per ounce level for the first time, but then saw a sharp pullback, even dropping briefly below US$3,300.

What’s behind gold’s latest moves? Market watchers have pointed to US President Donald Trump’s comments about Federal Reserve Chair Jerome Powell as the trigger for its latest spike.

In a Truth Social post on Monday (April 21), Trump said there could be a ‘SLOWING of the economy’ unless Powell — who he referred to as ‘Mr. Too Late’ — lowers interest rates.

Trump has criticized Powell heavily in recent days, saying last week that his ‘termination cannot come fast enough!’ That statement reignited discussions on whether Trump is able to fire Powell — Powell has said it can’t be done, and there isn’t any precedent since no president has ever tried to oust a Fed chair.

For now, the tension has subsided — Trump walked back his harsh words about Powell on Tuesday (April 22), saying he doesn’t intend to fire him, but still wants to see rate cuts.

‘I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates’ — Trump

Bullet briefing — Barrick to sell Donlin stake, CMOC to buy Lumina

Barrick to sell Donlin stake

Barrick Gold (TSX:ABX,NYSE:GOLD) has reached an agreement to sell its 50 percent stake in the Donlin gold project to affiliates of Paulson Advisers and NOVAGOLD Resources (TSX:NG,NYSEAMERICAN:NG).

The major gold miner will sell its interest in Donlin for US$1 billion in cash, with Paulson providing US$800 million and NOVAGOLD contributing the other US$200 million. Once the deal closes, Paulson will have a 40 percent interest in Donlin, while NOVAGOLD’s stake in the asset will rise from 50 percent to 60 percent.

Barrick President and CEO Mark Bristow said Donlin is an asset that ‘might be better suited in the hands of others,’ adding that the company is exiting at an ‘attractive valuation.’

While Donlin is one of the world’s largest gold projects, it is located in Alaska where infrastructure is scarce. At the same time, Barrick is looking to hone in on tier-one assets and boost its copper exposure.

Thomas Kaplan, chair of NOVAGOLD, said in a conference call after the sale was announced that his company ‘did not see eye-to-eye on a couple of things’ with Barrick, including the timing for a feasibility study for Donlin and the amount of drilling to conduct at the property.

Paulson Advisers, a longtime NOVAGOLD shareholder, is chaired by John Paulson, who is known for betting against the housing market during the great financial crisis.

In an interview with Bloomberg this week, the American billionaire said gold is ‘moving to a new level of valuation’ as central banks continue to buy.

CMOC to acquire Lumina

In other gold M&A news, CMOC Group (OTC Pink:CMCLF,HKEX:3993,SHA:603993) has agreed to buy Lumina Gold (TSXV:LUM,OTCQB:LMGDF) in a transaction worth C$581 million.

The all-cash deal will see CMOC pay C$1.27 per Lumina share.

Lumina is focused on its Cangrejos project, which it says is the largest primary gold deposit in Ecuador. A 2023 prefeasibility study outlines a 26 year mine life, with average annual payable production of 371,000 ounces of gold, plus average annual payable by-product output of 41 million pounds of copper.

‘After advancing the Cangrejos project for over 10-years and taking it from no defined resources to being poised to be one of the largest gold projects globally, the Lumina Group is excited for the transition of the Cangrejos project to CMOC,’ said Marshall Koval, CEO of Lumina Gold.

Well-known mining industry figure Ross Beaty is Lumina’s largest shareholder, while CMOC is a major producer of metals like molybdenum, tungsten, copper and cobalt.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
First patient dosed in Phase IIb imaging for Brain Mets
next post
SCOOP: Dept of Energy says it saved $700M in Trump’s first 100 days by cutting ‘wasteful’ programs

You may also like

Adrian Day: “Extremely Rare” Gold Stock Opportunity Won’t...

July 19, 2024

Randy Smallwood: Silver Set for Bull Run, Gold...

June 26, 2025

Quimbaya Gold & Independence Drilling Secure 4,000m Drill...

March 3, 2025

Troy Minerals Submits Drilling Permit Application for Table...

December 11, 2024

5 Best-performing Canadian Pharma Stocks of 2025

January 11, 2025

Don Hansen: Gold, Silver Stocks “Extraordinarily Undervalued,” Data...

December 24, 2024

SAGA Metals Completes Petrographic and Geophysical Analysis at...

January 13, 2025

Up to ~A$25 Million Capital Raise to Support...

September 10, 2024

Element79 Gold Corp. Announces Grant of Management Cease...

January 3, 2025

NioCorp Aiming to Boost US Rare Earths Supply...

September 19, 2024

Recent Posts

  • Trump’s ‘big, beautiful bill’ stalls in House amid conservative mutiny threats
  • Trump turns to Supreme Court in fight to oust Biden-era consumer safety officials
  • House advances Trump’s massive agenda bill after fiscal hawks cave
  • Omaha city councilman mounts bid to succeed outgoing House Republican Rep. Don Bacon
  • White House reveals highest-paid staffers–and 8 taking no salaries

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (814)
    • Investing (2,446)
    • Politics (3,050)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.