Happy Thursday, Zingers! Welcome back to our weekly mining industry treasure trove. Today, Equinox Gold solidifies its ownership of the Greenstone Gold Mine, copper prices are approaching a 2-year high and more.

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PRICE CHECK

Precious Metals:

• Gold: 2,334.46 (+0.79%)

• Silver: 27.38 (+0.70%)

• Platinum: 917.81 (+0.72%)

• Palladium: 988.57 (-1.48%)

Industrial Metals:

• Copper: 9,654.68 (+0.58%)

• Iron Ore: 109.23 (+0.43%)

• Nickel: 18,985.00 (+0.88%)

• Aluminum: 2,554.21 (+0.81%)

Energy Materials:

• Coal: 118.50 (-1.25%)

• Uranium: 88.00 (-1.59%)

Intraday prices as of 2:00 pm EST 04/25/2024.

ZINGERS

American Battery Technology (NASDAQ:ABAT) updated its initial assessment for the Tonopah Flats Lithium Project (TFLP).

Steel Dynamics (NASDAQ:STLD) reported first-quarter results, with net sales of $4.7 billion and net income of $584 million.

Gold Royalty Corp (AMEX:GROY) entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund that allows both parties to co-invest in precious metals royalties and streams.

Coeur Mining Inc (NYSE:CDE) released its 2023 ESG Report, emphasizing its progress in environmental, social and governance efforts aligned with shareholder value.

Equinox Gold (AMEX:EQX) has solidified its ownership of the Greenstone Gold Mine in Ontario, Canada, by acquiring the remaining 40% stake from Orion Mine Finance for $995 million.

TOP STORY

Copper Prices Approach 2-Year Highs

Briefly: Copper prices hit near two-year highs as Trafigura predicts an additional 10 million metric tons of demand.

What Happened: Copper prices have significantly risen, reaching near two-year highs of $10,000 per metric ton.

Why It’s Happening; This surge in demand comes from various sectors, including electric vehicles, power infrastructure, artificial intelligence, and automation.

What Next: Leading commodity trader Trafigura expects 10 million metric tons of additional copper consumption over the next decade. But not everyone is convinced that prices will maintain these highs.

Quoted: Gu Yan, director of copper at Citic Metal Co., issued a warning at an industry conference in Hangzhou. “Demand from fabricators is very weak after the recent rally.”

Click here to read more.

UPGRADES AND DOWNGRADES

MAG Silver (AMEX:MAG) - Date: 04/25/2024, Industry: Metals, Analyst Firm: HC Wainwright & Co., Ratings: Maintains Buy, Target: $17

Gatos Silver (NYSE:GATO) - Date: 04/23/2024, Industry: Metals, Analyst Firm: Canaccord Genuity, Ratings: Upgrades to Buy, Target: $12.50

Ur-Energy (AMEX:URG) - Date: 04/25/2024, Industry: Uranium, Analyst Firm: HC Wainwright & Co., Ratings: Maintains Buy, Target: $3.40

INSIDER TRADES

Notable Purchases

Lion Copper and Gold (OTCQB:LCGMF) - Purchase Date: 04/21/2024, Insider: Tony Alford (Director), Value: $29.07K, Delta Own: +0.48%

Sunoco (NYSE:SUN) - Purchase Date: 04/16/2024, Insider: David Skidmore (Director), Value: $78.14K, Delta Own: +11.44%

Notable Sales

Riley Exploration Permian (AMEX:REPX) - Sell Date: 04/07/2024, Insider: Bryan Lawrence, Value: $17.86M, Delta Own: -54.59%

Perpetua Resources (NASDAQ:PPTA) - Sell-Options Date: 04/11/2024, Insider: Alan Haslam, Value: $118.07K, Delta Own: N/A

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