Precious metals were slightly down in April amid ongoing geopolitical tensions, with gold down 1.2% and silver down 1.9%.
Mining equities declined alongside metals, with GDX down 3.8%, GDXJ down 3.1%, SILJ down 1.7%, while COPX was up 4.2% alongside copper, while the TSX was up 3.7% and the S&P 500 was up 10.7%.
Q1 earnings confirmed the new price environment as Newmont posted a record $3.1B in FCF, while M&A returned in scale with Agnico Eagle’s ~C$3.8B Finland consolidation and G Mining Ventures’ C$3.0B acquisition of G2 Goldfields.
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Canterra Minerals Corp - Mining Monthly: April Edition