Kitco MINING

What makes the Apollo discovery so unique? Collective Mining continues to make big discoveries in Colombia. Ari Sussman, Executive Chair of Collective Mining, sits down with Kitco’s Senior Mining Editor and Anchor Paul Harris at PDAC 2025 to discuss the latest results from the Guayabales project, including the high-grade Apollo discovery and the newly identified Ramp Zone. With aggressive drilling, strategic investments, and a strong financial position, could this be a future multi-million-ounce gold camp? Watch now for the latest updates on Collective Mining’s exploration and what’s next for the company.

Key points:
- Apollo Discovery Expands – Recent drill results hit over 106.35  meters at 9.05 g/t gold equivalent.
- Ramp Zone Potential – A brand-new deep discovery with promising high grades.
- Fully Funded for 2025 – $38M in the bank, minimal near-term financing needs.
- Agnico Eagle Investment – Strategic stake signals big-league interest.
- Major Drill Plans – 60,000 meters of drilling in 2025 across multiple targets.

*Special thanks to our sponsors, GoldMining Inc., UEC & URC for making this coverage possible.* 
To learn more, visit:
https://www.goldmining.com/
https://www.uraniumenergy.com/ 
https://www.uraniumroyalty.com/ 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Gold prices are hitting record highs, mining giants are sitting on billions in cash, and physical demand for gold is at unprecedented levels. But the real question? Why haven't mining stocks caught up?

In an interview with Jeremy Szafron, Anchor at Kitco News, Alastair Still, CEO of GoldMining Inc., reveals the hidden dynamics currently shaping the gold market. With spot gold hovering near $2,829 per ounce, geopolitical tensions escalating, and miners flush with cash, Still discusses why gold equities remain undervalued and why investors should pay close attention right now.

On the sidelines of PDAC 2025, Still dives deep into the massive opportunity in gold mining equities, the potential explosion of mergers and acquisitions, and explains why major mining companies could soon enter a fierce competition for quality assets. This conversation is essential for investors, gold enthusiasts, and anyone looking to understand the next big moves in the precious metals market.

Key Topics:
- Why are gold mining stocks lagging despite record gold prices?
- Are we on the brink of a major gold mining M&A wave?
- What's driving the huge physical gold demand?
- Could miners' massive cash reserves trigger a buying spree?
- How will geopolitical uncertainty shape gold investments?
- Why gold remains a must-have for long-term investors

*Special thanks to our sponsors, GoldMining Inc., UEC & URC for making this coverage possible.* 
To learn more, visit:
https://www.goldmining.com/
https://www.uraniumenergy.com/ 
https://www.uraniumroyalty.com/ 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Gold mergers are heating up! Which gold companies should merge next—and who’s being left behind? At PDAC 2025, Kitco Mining is swiping through potential gold company mergers in our special ‘Tinder for Gold Mergers’ segment. Adrian Day, CEO of Adrian Day Asset Management, and Kitco’s Senior Mining Editor and Anchor Paul Harris break down the biggest deals, including Equinox Gold’s $2.6B acquisition of Calibre Mining. Which mergers make sense, and which ones are fool’s gold? Find out as we explore the shifting landscape of gold mining M&A, cash flow strategies, and jurisdictional challenges.

Key points:
- Gold M&A frenzy: Equinox Gold’s $2.6B all-stock acquisition of Calibre Mining could reshape the mid-tier sector.
- Regional consolidation: Experts see more potential in mid-tier gold companies merging rather than senior producers consolidating further.
- Jurisdiction matters: The U.S. is becoming more mining-friendly under new policies, but Mexico’s sentiment remains cautious.
- Cash flow vs. M&A: With strong cash flow, some gold companies may focus on debt repayment and buybacks instead of acquisitions.
- Super like merger? Lundin Gold and Dundee Precious Metals could be a powerhouse combo with ultra-low costs.

Read Paul Harris’ article – ‘M&A Tinder: Swiping Right on Gold’ https://www.mining-journal.com/miners/news-analysis/4409830/tinder-swiping-gold  

*Special thanks to our sponsors, GoldMining Inc., UEC & URC for making this coverage possible.* 
To learn more, visit:
https://www.goldmining.com/
https://www.uraniumenergy.com/ 
https://www.uraniumroyalty.com/ 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

How did Kinross Gold achieve a 123% share price increase in just one year? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Paul Rollinson, CEO of Kinross Gold, at the 2025 BMO Global Metals, Mining & Critical Minerals Conference. Rollinson discusses how Kinross Gold achieved a strong 2024 with 2 million ounces of production, record free cash flow, and a surging share price. Rollinson shares their strategy of meeting production guidance and holding the line on costs, leading to significant margin expansion. Looking ahead, he highlights their robust growth pipeline, including the Great Bear project, and the potential for future return of capital to shareholders after a strong balance sheet is maintained.

Key points:
- Kinross Gold had a very successful 2024 with high production and cash flow.
- Their strategy focuses on strong technical acumen, meeting production targets, and cost management.
- Debt has been significantly repaid, including the term loan for the Great Bear acquisition.
- Kinross is prioritizing internal growth projects like Great Bear while also considering shareholder returns.
- The company sees potential for reactivating share buybacks in the future.

*Special thanks to our sponsor, First Majestic, for making this coverage possible. Visit https://www.firstmajestic.com/ to learn more.*

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

What's Eric Sprott's secret to finding undervalued stocks? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews industry titan Eric Sprott, Chief Executive Officer of Eric Sprott Family Office, at the 2025 Prospectors & Developers Association of Canada (PDAC). Sprott discusses his early interest in precious metals, driven by the vulnerability of the NASDAQ in the late 1990s, and how gold and silver became the answer for portfolio survival. He shares insights on current market vulnerabilities, potential impacts of monetary policies and tariffs, and his continued investment strategies focused on undervalued precious metals companies. Sprott also touches on the silver market, predicting a significant rise in price due to supply deficits and manipulation.

Key points:
- Focus on gold and silver as a strategic investment
- Silver to 'skyrocket': Sprott believes silver could reach $250-$500
- Sees stock market vulnerabilities: and is shorting the market
- Junior exploration space: Sprott's investment strategy
- Gold forecast: Well north of $3,000 by the end of the year

Special thanks to our sponsors, GoldMining Inc., UEC & URC for making this coverage possible. 
To learn more, visit:
https://www.goldmining.com/
https://www.uraniumenergy.com/ 
https://www.uraniumroyalty.com/ 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

What does the acquisition of the Porcupine Mine mean for Discovery Silver? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Tony Makuch, CEO of Discovery Silver, at the 2025 BMO Global Metals, Mining and Critical Minerals Conference in Hollywood, Florida. Makuch discusses Discovery Silver's recent acquisition of the Porcupine mine in Ontario from Newmont, a move that expands the company's focus beyond silver to include gold production. He highlights the potential for significant value creation through cost reduction, production growth, and exploration upside at Porcupine. Makuch also updates on the progress of the Cordero project in Mexico and the company's strategy to become a leading precious metals producer.

Key points:
- Acquisition of Porcupine mine from Newmont
- Rationale behind diversifying into gold
- Potential to transform Porcupine into a Tier 1 asset
- Permitting progress for the Cordero project in Mexico.
- Strategy to become a low-cost precious metals producer.

Special thanks to our sponsor, First Majestic, for making this coverage possible. Visit https://www.firstmajestic.com/ to learn more. 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

How will First Majestic Silver's acquisition of Gatos Silver impact the silver market? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Keith Neumeyer, President and CEO of First Majestic Silver, at the 2025 BMO Global Metals, Mining & Critical Minerals Conference. Neumeyer discusses First Majestic Silver's recent acquisition of Gatos Silver and its impact on their production, increasing it to approximately 32 million silver equivalent ounces per year. He also addresses the dynamics of the silver sector, including supply and demand, and expresses his belief in triple-digit silver prices in the future. Neumeyer shares insights on the company's performance, capital allocation strategy, and goals for the next five years, aiming to reach 50 million ounces of production.

Key points:
- Acquisition of Gatos Silver
- Increased silver equivalent production to 32 million ounces
- Views on silver market dynamics and potential price increases
- Share buyback program and capital allocation strategy
- Goal to become a 50 million-ounce producer

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

What makes a "smart deal" in the mining sector? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Matt Geiger, Managing Partner at MJG Capital, about investing in the junior mining space. On the sidelines of the 2025 Mines and Money Conference in Miami, Geiger shares his insights on the gold and copper cycles, noting we are still early in the metal cycle. He discusses factors driving metal prices, including central bank buying and the potential impacts of US policy under President Trump. Geiger also highlights potential M&A activity in the gold sector and what makes a smart deal.

Key points:
- Still early in the metal cycle
- Central bank buying is a primary catalyst for gold prices
- Trump's policies are a net positive for the mining space
- Potential for increased M&A activity in the gold sector
- Smart deals should have operational synergies

Special thanks to our sponsor, Goldshore Resources, for making this coverage possible. Visit https://goldshoreresources.com/ to learn more.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

How did Agnico Eagle achieve record production and industry-leading margins in 2024? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Ammar Al-Joundi, President & CEO of Agnico Eagle Mines, at the 2025 BMO Global Metals, Mining and Critical Minerals Conference. Al-Joundi discusses the company's outstanding performance in 2024, featuring record production and a 50% all-in-sustaining cost margin. He highlights Agnico Eagle's dedication to controlling costs and maximizing shareholder returns through dividends and share buybacks. Al-Joundi also explains the company's strategic acquisitions, such as O3 Mining, aimed at leveraging infrastructure and enhancing value per share, with a goal to attract generalist investors to the gold sector.

Key points:
- Record production in 2024
- Industry-leading margins
- Returning capital to shareholders
- Strategic acquisitions like O3 Mining
- Attracting generalist investors

Special thanks to our sponsor, First Majestic, for making this coverage possible. Visit https://www.firstmajestic.com/ to learn more. 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

How did Orla Mining achieve a 90% share price increase in one year? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Jason Simpson, President & CEO of Orla Mining at the 2025 BMO Global Metals, Mining & Critical Minerals Conference, to discuss Orla Mining's impressive performance and future strategies. Simpson highlights Orla's record production, debt payoff, and the acquisition of the Musselwhite mine. Discover how Orla Mining plans to leverage its financial strength and strategic acquisitions to grow to 500,000 ounces a year. Simpson also touches on broader trends in the gold sector, including M&A activity and shareholder returns.

Key points:
- Record 2024: High production, debt-free status.
- Musselwhite Mine Acquisition: Increases production by 140%.
- Growth Strategy: Aims for 500,000 ounces/year by 2027.
- Shareholder Value: Focus on buybacks and growth investments.
- Nevada Project: Permitting progress, production target 2027.

Special thanks to our sponsor, First Majestic, for making this coverage possible. Visit https://www.firstmajestic.com/ to learn more. 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.