Market Overview - The trading day is nearing its end with stocks attempting to reach record highs, although some factors may hinder this progress [1][2] - The earnings season has been performing well so far, with more significant names set to report [2] - The Dow Jones Industrial Average increased by 146 points (0.3%), while the S&P 500 rose by 39 points (0.6%) [6] Company Earnings Intel - Intel reported an adjusted EPS of $0.23, beating the expected $0.12, with revenue up 3% year-over-year at $13.65 billion [10][11] - The forecast for Q4 revenue is projected between $12.8 billion and $13.8 billion, with a notable increase in data center and AI revenue, which reached $4.12 billion [12][19] - The company noted stronger-than-anticipated demand in the data center segment, particularly for server build-outs [13][20] - Intel's shares rose by 6% in after-hours trading following the earnings report [19][35] Ford - Ford anticipates an adjusted EBIT hit of $1.5 to $2 billion in 2025 due to a fire incident affecting aluminum production [23] - The company revised its full-year adjusted EBIT guidance down to $6 billion to $6.5 billion, missing analyst estimates [27] - Ford's shares fell by approximately 3.3% in after-hours trading, reflecting concerns over long-term strategy and EV build-out [24][27] Deckers - Deckers, the maker of Uggs and Hoka shoes, reported net sales of $0.43 billion, with full-year sales guidance of $5.35 billion, slightly below market expectations [30][31] Western Union - Western Union reported revenue growth of 1.03%, with adjusted EPS of $0.47, exceeding the estimate of $0.43, leading to a 4.4% increase in shares [33] Newmont Corporation - Newmont Corporation's adjusted EPS for Q3 was $0.71, with sales of $5.52 billion, surpassing estimates of $5.29 billion, resulting in a slight increase in shares [34]

Financial Performance - The company generated a record third-quarter free cash flow of $1.6 billion[13] - Cash from operations reached $2.3 billion[17] - Adjusted EBITDA was $3.3 billion[17] - The company retired $2.0 billion in debt, achieving a near-zero net debt position[13] Production and Costs - Attributable gold production from core managed operations was 1,054Koz, and from core non-managed operations was 367Koz, totaling 1,421Koz for the core portfolio[14] - The company improved 2025 cost and capital guidance due to disciplined cost reduction efforts[13] - The company expects 2025 gold production to be 5.6Moz[19] - The company expects Q4 2025 gold production to be 1.4Moz[19] Capital Allocation and Returns to Shareholders - The company returned $823 million to shareholders through regular dividends and share repurchases[13] - Shareholder returns include $179 million of shares repurchased in October 2025[11, 20, 24] - The company has $5.6 billion in cash and cash equivalents[17, 20] Divestiture Program - The company received net cash proceeds of nearly $640 million from asset and equity sales[13] - The company completed a divestiture program of approximately $2.6 billion[23] - The company streamlined its equity portfolio for approximately $900 million after-tax cash proceeds in 2025[23]

Newmont delivered stronger-than-expected quarterly earnings as the world’s largest gold miner contained costs at a time of surging precious metal prices https://t.co/CywoilAH8N ...

Core Viewpoint - Aris Mining Corporation is set to release its Q3 2025 financial results on October 29, 2025, followed by a conference call on October 30, 2025, to discuss these results [1][2]. Company Overview - Aris Mining was founded in September 2022 with a focus on becoming a leading gold mining company in Latin America, emphasizing production, cash flow generation, and transformational growth through asset expansions and exploration [4]. - The company operates two underground gold mines in Colombia, the Segovia Operations and the Marmato Complex, which produced a total of 210,955 ounces of gold in 2024 [5]. - Aris Mining aims to increase its annual production rate to over 500,000 ounces of gold, supported by the commissioning of a second mill at Segovia and the construction of the Bulk Mining Zone at Marmato [5]. Growth Strategy - The company is pursuing partnerships with Colombia's small-scale mining sector to promote safe and environmentally responsible operations that benefit local communities [6]. - Aris Mining is also focused on acquisitions and other growth opportunities to enhance value through scale and diversification [7]. Project Developments - The Soto Norte joint venture, in which Aris Mining holds a 51% stake, has completed a Preliminary Feasibility Study (PFS) confirming its potential as a high-quality, long-life project with strong economics [5]. - In Guyana, the company is advancing the Toroparu gold/copper project, with a new Preliminary Economic Assessment (PEA) currently underway [5].

Core Insights - Newmont reported increased revenue and profit in the third quarter, driven by the rising price of gold [1] Financial Performance - The company experienced higher revenue and profit compared to previous quarters, attributed to the soaring gold prices [1]

Core Viewpoint - Abcourt Mines Inc. reported significant financial results for the fourth quarter and year ended June 30, 2025, highlighting increased exploration expenditures and a notable improvement in working capital, while still facing a net loss for the year [1][2][7]. Financial Summary - Revenues for the year ended June 30, 2025, were $0, compared to $255,000 in 2024 [2]. - Administration expenses decreased slightly to $3,657,276 in 2025 from $3,762,272 in 2024 [2]. - Care and maintenance costs increased to $3,350,461 in 2025 from $2,702,092 in 2024 [2]. - Exploration expenses surged to $8,322,676 in 2025, up from $4,682,988 in 2024, reflecting significant work on the Sleeping Giant and Flordin properties [2][7]. - The net loss for the year was $14,421,015, compared to a loss of $11,585,571 in 2024 [2]. - Cash reserves improved to $2,578,587 in 2025 from $757,753 in 2024 [2]. - Total assets increased to $21,408,153 in 2025, up from $14,063,983 in 2024 [2]. - Non-current liabilities rose to $14,175,891 in 2025 from $12,261,315 in 2024 [2]. - Shareholders' equity improved to -$599,534 in 2025 from -$6,284,136 in 2024 [2]. - Working capital turned positive at $2,952,725 in 2025, compared to negative working capital of -$4,947,411 in 2024 [2][7]. Operational Highlights - The President and CEO noted that fiscal 2025 was significant for exploration achievements at the Sleeping Giant and Flordin properties, with plans to move into development mode following financing completed in July 2025 [3]. - Preparations for production at the Sleeping Giant property began in August 2025, indicating a shift towards operational development [3]. Company Overview - Abcourt Mines Inc. is a Canadian gold company focused on developing the Sleeping Giant mine and exploring other properties in northwestern Quebec [6]. - The company owns 100% of the Sleeping Giant mine and mill, as well as the Flordin exploration property [6].

Core Insights - The price of gold has experienced a significant increase of 57% since the beginning of 2025, despite a recent pullback [1][3] - Analysts maintain a bullish outlook on gold, citing ongoing structural demand from central banks and investors seeking safe-haven assets amid economic uncertainties [3][4] Price Movements - Gold experienced a notable decline of 6% in a single day, marking its largest one-day drop in 12 years and the biggest dollar decline ever [2] - Following this drop, gold prices fluctuated between approximately $4,030 and $4,160, after reaching nearly $4,400 earlier in the week [5] Market Dynamics - The recent pullback is viewed as a healthy correction after a prolonged rally, with expectations that demand for gold will continue to support prices [6][7] - Central banks and consumers are anticipated to remain active buyers during price dips, contributing to a longer-term bullish trend for gold [8] Investment Implications - The ongoing demand for gold is expected to benefit gold mining companies, which have seen substantial increases in their stock prices this year [7][9] - The Van Eck Gold Miners ETF has surged nearly 120% year-to-date, while shares of Newmont, the largest gold miner, have risen 140% [9]

Cruz Battery Metals Announces Private Placement to Fund Work Programs on its Nevada & Ontario ProjectsOctober 23, 2025 2:23 PM EDT | Source: Cruz Battery Metals Corp.Vancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTCID: BKTPF) (WKN: A40YSN) ("Cruz" or the "Company") wishes to announce a private placement to fund work programs on the Company's Nevada lithium projects and the gold/copper project in Ontario. Cruz's Solar Lithium Project i ...

Equinox Gold Conference Call Summary Company Overview - **Company Name**: Equinox Gold (NYSEAM: EQX) - **Industry**: Gold Mining - **Market Presence**: Significant trading volume on NYSE, averaging between 10 and 15 million shares daily [8][12] Key Points and Arguments - **Production Guidance**: Equinox Gold has reset its production guidance for 2025 to between 785,000 and 915,000 ounces of gold, excluding the new Valentine Gold Mine [12][19] - **Debt Position**: The company has approximately $1.7 billion to $1.8 billion in debt, with net debt around $1.3 billion. Transitioning from capital investment to cash harvesting and deleveraging [13][24] - **Valentine Gold Mine**: First gold production occurred a month ago, with expectations to produce between 15,000 and 30,000 ounces in Q4 2025. Long-term production potential is estimated at 175,000 to 200,000 ounces annually [19][22] - **Greenstone Asset**: Revised guidance for Greenstone is between 220,000 and 260,000 ounces, with production tracking towards the lower end of this range [20] - **Grade Improvement**: Average gold grade increased from 0.9 grams per ton in Q2 to 1.05 grams in Q3, with September reaching 1.3 grams per ton due to improved operating practices [21][29] - **Exploration Potential**: Significant exploration opportunities at Los Filos, which has over 15 million ounces of gold in reserves and resources. Current drilling is ongoing [28] Financial Outlook - **Cash Flow and Shareholder Returns**: Anticipated rapid deleveraging could lead to capital returns to shareholders within 12 to 18 months, potentially through dividends or buybacks [24] - **Exploration Budget**: Expected exploration spend of $80 million to $100 million in 2026, focusing on organic growth [25] - **Market Position**: Equinox Gold trades at a discount compared to peers, presenting an opportunity for valuation rerating as production increases and confidence builds [15][17] Additional Insights - **Management Changes**: New leadership team in place, including Darren Hall as CEO, aimed at improving operational performance and meeting production expectations [18] - **Market Conditions**: Positive outlook for gold producers in 2026, assuming stable gold prices, with potential for significant cash generation [32] - **Community Relations**: Ongoing negotiations with communities regarding land rights for Los Filos, with multi-decade agreements already established with two communities [28] This summary encapsulates the key aspects of Equinox Gold's conference call, highlighting the company's strategic direction, production capabilities, financial outlook, and exploration potential.

Gold Market Overview - The gold market is experiencing a rebound after facing back-to-back losses, marking the first negative week in ten weeks, indicating a shift in momentum [1] - A significant level for gold was around 4,000, which was tested recently, showcasing strong buying interest [2][3] Market Influences - Recent sanctions on Russian oil companies are contributing to a bullish outlook for gold, as these sanctions may drive money away from the dollar and into gold [4][5] - The concept of dollarization is gaining traction, with implications for gold as a tier one asset on balance sheets, supported by widening fiscal deficits [4][5] Mining Companies Insights - Companies like Newmont and Agnico Eagle are trading below their long-term forward price-to-earnings ratios, presenting potential investment opportunities [6] - Year-over-year earnings growth for Newmont is expected to be between 70-80%, with significant free cash flow anticipated [7] - Mining companies are experiencing stagnant input costs relative to revenue growth, which could lead to substantial capital returns to shareholders through buybacks or dividends [8]