Gold rally finally attracts investors back to mining stocks after months of outflows

According to LSEG Lipper data, funds investing in physical gold and gold derivatives attracted a net $17.8 billion in 2024, the highest in five years, while funds investing in gold miners lost a net $4.6 billion, the most in a decade. 

Gold mining Funds saw their first net monthly inflow in six months in March, attracting $555.3 million, the highest since November 2023, according to Lipper data.

The Gold ETF's have seen continued interest all around the world:

Global Inflows: Gold ETFs have seen significant inflows in 2025, with a total of

$3000 Gold

Gold’s outperformance continues unabated. It took some time, but we’re finally here!

It would be healthy to see it consolidate at these levels before racing further ahead—but a bull is hard to tame! 

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MasterMetals
@MasterMetals

Gold Miners waking up!

Nice day for the larger miners -- large cap no longer applies to these minnows... the biggest, $NEM & $AEM @ ±USD50BN each, are still worth less than what the mag 7 lose in a day... pic.twitter.com/1v3bDAVNfg

— MasterMetals (@MasterMetals) February 6, 2025

Break out spreading out among the Gold producers—even $SSRM. Can’t really say the same for $BTG… $AAUC.TO $AEM $LUG.TO $FVI.TO $FSM $EQX $MKO.V $CXB.TO $GMIN.TO $SKE.TO pic.twitter.com/M9ZMsbLdEn

— MasterMetals (@MasterMetals) February 5, 2025

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MasterMetals

@MasterMetals

$VGCX.TO: PWC details Victoria Gold’s assets & debts

Assets stood at C$824.75 Million, the majority consisting of property, plant & equipment of C$442.6 million and inventory (on the pad?!) of C$224.7 million. Cash, just C$24 Million.

Debts stand at at least C$300 million owed to 424 creditors.

89 Yukon-based companies are owed just under $42 million, representing 50.7% of the total unsecured debt.

#BHP’s Bid for #AngloAmerican is Laden with Potential Pitfalls & Challenges…

Buying $AAL.L means $BHP would gain access to 3 of world’s largest #Copper mines.

Merger would improve BHP’s exposure to copper by ~40%—and more significantly—give it 10% of global copper production.

This, however, is likely to lead to significant anti-trust/competition scrutiny in Peru and Chile—not to mention South Africa. 

#Copper: Higher, Harder, Longer

It's getting harder & more expensive to get #Copper out of the ground

Great report from Bloomberg on the difficulties facing the #Mining industry in meeting the growing need for more Copper.

After more than a century of commercial production at Chile's Chuquicamata reduced the amount of ore that can profitably be extracted from surface, two decades ago state-run Codelco began drawing up plans to build a modern underground mine at the site to tap the riches deep below. The company originally envisioned a $2 billion investment. By the time its board signed off on the project in 2014, the budget had risen to $4.2 billion. At the time of the 2019 ribbon-cutting, it had climbed to $5.5 billion. The latest estimate, including related infrastructure, is $7 billion, making it the biggest outlay Codelco's history.

Those obstacles can drain miners' enthusiasm for new projects. Goldman Sachs Group Inc. estimates the industry needs to spend