Happy Friday, Zingers! Are your pickaxes ready? Today, we’re digging deep into how gold stocks outperformed bullion during gold bull runs over the past 20 years, why Anglo American rejected an all-share takeover bid, Universal Stainless’s Q1 earnings and more.

Before we do, did you miss us at PDAC 2024? Watch our exclusive interviews from Mining Into The Heart Of EV Innovation.

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PRICE CHECK

Precious Metals:

• Gold: 2,294.80 (-0.38%)

• Silver: 26.41 (-1.16%)

• Platinum: 956.79 (+0.24%)

• Palladium: 947.88 (+1.27%)

Industrial Metals:

• Copper: 9,869.61 (+2.36%)

• Iron Ore: 118.08 (+0.74%)

• Nickel: 19,210.62 (+4.39%)

• Aluminum: 2,537.35 (-1.46%)

Energy Materials:

• Coal: 107.90 (-0.09%)

• Uranium: 92.25 (+0.54%)

Intraday prices as of 12:00 pm EST 05/03/2024.

ZINGERS

IperionX (NASDAQ:IPX) and Vegas Fastener Manufacturing have partnered to develop and manufacture titanium alloy fasteners and precision components for critical sectors, including the U.S. Army Ground Vehicle Systems Center.

Universal Stainless (NASDAQ:USAP) sales reached $77.6 million in the first quarter, nearly matching the previous record and an 18% increase YoY.

Anglo American (OTCQX:AAUKF) rejected the $39-billion all-share takeover bid from BHP Group, calling it “highly unattractive” and undervalued.

Gatos Silver (NYSE:GATO) gave an update on its exploration at the Los Gatos district in Mexico, highlighting new mineral intercepts at the Cerro Los Gatos mine and appointing Chad Yuhasz as vice president.

Hycroft Mining Holding Corporation (NASDAQ:HYMC) will be added to the Solactive Global Silver Miners Total Returns Index starting May 1, 2024.

TOP STORY

Gold Stocks Outperformed Bullion During Bull Runs Over Past 20 Years

Briefly: Historical patterns have shown the tendency for gold mining stocks to significantly outperform bullion in bull markets over the past twenty years. With gold hovering near all-time highs, will this trend continue?

Who Could Benefit: Amid this financial fervor, gold exploration companies like Austin Gold (AMEX:AUST) could be positioned to reap significant benefits.

What It’s Predicting: The company is forecasting a wide range for gold prices this decade, but its upper bound is $35,000, largely based on the precious metal's historic relationship to the monetary base.

Why It’s Well-Positioned: Austin Gold has a high reward/risk position on the Lassonde Curve, which is central to the company's approach, guiding it through the exploration lifecycle and toward discovery.

What Is That? The Lassonde Curve was conceptualized by mining expert Pierre Lassonde and charts the growth phases of junior mining companies from their start to potential acquisition.

Why It Matters: In essence, the curve points out investment hotspots at discovery, post-feasibility and after construction before mines operate at full scale. This model aids in understanding junior miners’ development while offering insights into potential strategic and high-return investments.

Click here to read more.

UPGRADES AND DOWNGRADES

Caledonia Mining (AMEX:CMCL) - Date: 04/29/2024, Industry: Metals, Analyst Firm: Cantor Fitzgerald, Ratings: Upgrade to Speculative Buy, Target: $13.50

Vista Energy (NYSE:VIST) - Date: 05/01/2024, Industry: Energy, Analyst Firm: UBS, Ratings: Maintains Neutral, Target: $50

Southern Copper (NYSE:SCCO) - Date: 04/30/2024, Industry: Mining, Analyst Firm: Morgan Stanley, Ratings: Maintains Underweight, Target: $135

INSIDER TRADES

Notable Purchases

Rise Gold (OTCQX:RYES) - Purchase Date: 04/28/2024, Insider: Daniel Oliver Jr (Director), Value: $217.10K, Delta Own: +32.68%

Lion Copper and Gold (OTCQB:LCGMF) - Purchase Date: 04/28/2024, Insider: Tony Alford (Director), Value: $80.87.07K, Delta Own: +1.32%

Notable Sales

Southern Copper (NYSE:SCCO) - Sell Date: 04/29/2024, Insider: Miguel Luis, Value: $425.88M, Delta Own: -61.92%

Chevron (NYSE:CVX) - Sell-Options Date: 04/24/2024, Insider: Alana Knowles (VP & Controller), Value: $152.96M, Delta Own: N/A

Go Deeper: Learn where the insiders are buying and selling.