Mid-tier precious metals producer Americas Gold and Silver (TSX:USA,NYSEAMERICAN:USAS) continues to grow its North American footprint with its intended acquisition of privately owned Crescent Silver.
The two companies inked a US$65 million binding purchase agreement on Thursday (November 13). It includes the past-producing, fully permitted Crescent mine in the Idaho Silver Valley.
Known as “the silver capital of the world,” the region is well known for its immense production of silver, lead and zinc, as well as significant amounts of copper and antimony.
Within this prolific mining district, the Crescent mine is sandwiched between the historic Sunshine and Bunker Hill mines and is just 9 miles from Americas’ Galena complex, an active silver, lead and copper operation.
“The mineralized material at Crescent is the same silver-copper-antimony tetrahedrite material currently processed at Galena,” notes the company’s press release.
The deal comes just one week after the US Geological Survey officially added silver to its list of critical minerals in recognition of the metal’s growing importance to American economic and national security.
Substantial infrastructure is already in place at Crescent, which has a historic 2015 preliminary economic assessment demonstrating the potential to produce 1.4 million to 1.6 million ounces of silver annually.
“Crescent has the potential to be fast tracked into our growing production profile alongside Galena, allowing us to leverage our strong operations team located in the Silver Valley,” said Americas Chair and CEO Paul Andre Huet.
Management believes the company can begin adding feed from Crescent to the Galena mill and generating cashflow from these activities as early as mid-2026. Americas’ team sees plenty of upside on the Crescent property as less than 5 percent of the landholding has been explored, with only two veins delineated for production. In 2026, the company plans to launch a US$3.5 million drill program to test multiple targets both at surface and underground.
The Crescent acquisition includes US$20 million in cash alongside approximately 11.1 million common shares of an equity position in Americas valued at approximately US$45 million.
To cover the cost of the purchase, Americas initially announced it would be conducting a concurrent US$65 million bought-deal private placement via an agreement with Canaccord Genuity and BMO Capital Markets.
Shortly after that news, the company said it was increasing that private placement to US$115 million on strong investor interest. Eric Sprott, Americas’ largest shareholder, will participate in the financing.
“The addition of the Crescent Mine, while potentially improving the project profile of the Company, provides additional synergies only available through rational consolidation and is a transaction that leverages the strength of Paul’s strong operating team in the Silver Valley,” said Sprott, a well-known financier in the mining industry.
Earlier in the week, Americas Gold & Silver published its financial and operational results for Q3. Its consolidated silver production was up 98 percent year-on-year and 11 percent quarter-on-quarter, while its consolidated revenue, including by-product revenue, jumped by 37 percent compared to the same quarter last year to US$30.6 million.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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As its record-setting year continues, gold is on its way to posting its strongest annual performance since 1979, up an impressive 58 percent year-to-date as of Wednesday (November 12).
The yellow metal once again broke past US$4,200 per ounce this week, moving closer to its all-time high of US$4,379.13, reached on October 17. Silver is up 80 percent year-to-date and also on track for its best year ever.
The silver spot price rose on Thursday (November 13) morning to just a few cents shy of its record price of US$54.47 per ounce. Silver futures hit a new record high of US$54.415 per ounce in early morning trading.
Gold rallied this week even amid news that the longest US government shutdown in history was coming to an end — typically the sort of development that would lessen demand for safe-haven assets. Yet continued labor market weakness in the US is priming expectations of further Federal Reserve interest rate cuts in December.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, explained that gold is gaining on investor sentiment.
What does it mean to say that gold is acting like a meme stock? Basically, it implies that the gold market is displaying unusual trading dynamics with investment demand at times seemingly more momentum-driven than data-driven.
Gold and silver’s surge may be reflective of the good precious metals vibes investors are now feeling. Social media is buzzing with posts like “GOLD to $5,000!” and trending hashtags like #GoldRush2025 and #SilverSqueeze2.
Gold exchange-traded funds in particular are very popular with retail investors. Sherwood News reported on Tuesday (November 11) that daily call volumes for the SPDR Gold Trust (ARCA:GLD), which is backed by physical gold, had outstripped 1 million by 1:10 p.m. EST, ‘roughly triple their 334,000 average over the last 10 full sessions.’
While the speed and size of the price gains in gold and silver point to a highly sentiment-driven acceleration, this momentum doesn’t discount the strong fundamentals for gold and silver.
Yes, we’re likely to see price pullbacks, but the overall upward momentum is still supported by macro forces such as economic uncertainty, Fed independence concerns, geopolitical risks and in the case of silver, supply worries.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) (‘ Copper Quest ‘ or the ‘ Company ‘) is pleased to announce that it has entered into an arms-length Option to Purchase Agreement (the ‘ Agreement ‘) dated November 7th, 2025 with 0847114 B.C. Ltd. (‘ Privco ‘), a British Columbia Incorporated company that holds 100% ownership, title, and interest in the Alpine Gold Property (the ‘ Property ‘), located in the West Kootenay region of British Columbia (the ‘ Acquisition ‘).
Highlights of the Alpine Gold Property
- 2018 NI43-101 Inferred Resource of 268,000 tonnes estimated using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au that represents an inferred resource of 142,000 oz of gold (McCuaig & Giroux, 2018).
- Substantial opportunity to grow the maiden Alpine resource to the east-west and to depth with only about 300m of the roughly 2km long vein system explored to date by underground mine workings and drilling.
- Estimated 24,000 tonnes Run of Mine mineralized stockpile on surface presenting a possible near term cash flow opportunity.
- 1,650 meters of clean and dry underground workings accessing sampled and mineable zones.
- At least 4 additional relatively unexplored vein systems on the Property (Black Prince, Cold Blow, Gold Crown & past-producing King Solomon), all hosting historic high-grade gold values.
- Road accessible 4,611.49-hectare Property including 15 Crown Grants (1 with surface rights) and 19 staked mineral claims with all-season operation potential (Figure 1).
- Additions of Mr. Allan Matovich to the Board of Directors. Mr. Ted Muraro and Mr. John Mirko as Technical Advisors on closing. They have a combined mining and exploration experience of 150+ years in the industry.
The 4,611.49-hectare Property is approximately 20 kilometers northeast of the City of Nelson (Figure 1) and hosts the former operating underground mine with a recorded production of approximately 16,810 tonnes of mineralized vein material (Table 1). This material contained 356,360 grams of gold, 222,054 grams of silver, 49,329 kilograms of lead and 17,167 kilograms of zinc. The other 4 significant vein systems on the property will also be explored including the Black Prince and Cold Blow quartz veins approximately 3km to the northeast of the Alpine mine, the Gold Crown vein system 600m southeast, and the past-producing King Solomon vein workings 1.8km to the south. Further information about the Alpine Gold property will be forthcoming in the upcoming weeks.
Brian Thurston, President & CEO of Copper Quest, commented : ‘ With Gold prices at all-time highs, The Alpine Gold property creates a tremendous opportunity to create near term value. I look forward to closing the transaction and welcoming Mr. Matovich, Mr. Muraro and Mr. Mirko to the team.’
Figure 1: Location Claim Map
Appointment of Mr. Allan Matovich as Director
Copper Quest is also pleased to announce that upon closing of the acquisition, Mr. Allan Matovich will join the Company’s Board of Directors. Mr. Matovich is the principal owner of the Alpine Gold Property.
Mr. Matovich has 60+ years of mining and exploration experience in Canada and the United States. He first started with Cominco in Trail BC working in the smelter operation. Mr. Matovich then started Matovich Mining Industries where they supplied considerable tonnages of siliceous flux materials, lead and zinc concentrates to Cominco for over 20 years. Mr. Matovich then opened up a mining operation in 1997 in Northern British Columbia to supply barite for drilling fluids in the oil and gas industry. This mining operation is still in production today. Mr. Matovich also opened up a barite operation in Washington State that is going into production. He also worked with Halliburton, Baker Hughes, and Newmont and was very successful. In 2000, Mr. Matovich purchased the Alpine Gold Mine and since then has spent a considerable amount of time proving up the project.
Mr. Matovich commented ‘ I am very pleased to bring the Alpine Gold Property to Copper Quest and join as a director. The company has a fantastic portfolio of critical mineral projects advancing and the Alpine Gold Project gives a potential near term cash flow opportunity along with upside to grow the current resource with drilling. I look forward to working with the Copper Quest team to help create value for all stakeholders involved.’
Table 1 – Production History – Minfile (082FNW127) for Alpine Mine for gold (Au) and silver (Ag)
| YEAR | Tonnes | Tonnes | Au Grams | Ag Grams | Est Grade |
Est Grade |
| Mined | Milled | Recovered | Recovered | Au (g/t) | Ag (g/t) | |
| 1988 | 200 | 90 | 198 | 591 | 2.20 | 6.57 |
| *1948 | – | – | 16,889 | 11,384 | 25.32 | 17.07 |
| *1947 | – | – | 2,768 | 1,866 | 15.38 | 10.37 |
| *1946 | – | – | 11,042 | 5,785 | 18.59 | 9.74 |
| *1942 | – | – | 56,079 | 34,182 | 824.69 | 502.68 |
| 1941 | 11,517 | 11,517 | 219,350 | 130,011 | 18.26 | 11.29 |
| 1940 | 3,992 | 3,992 | 57,852 | 35,333 | 14.49 | 8.85 |
| 1939 | 3 | 0 | 62 | 62 | ||
| 1938 | 35 | 0 | 1,120 | 902 | ||
| 1915 | 4 | 0 | 1,938 | |||
| *ore milled not reported | ||||||
Appointment of Mr. Ted Muraro as Technical Advisor to the Board
Mr. Muraro will be appointed as Technical Advisor to the board on closing of the transaction. Mr. Theodore (Ted) W. Muraro has accumulated over six decades of experience in mineral exploration, including 35 years with Cominco where he advanced through Exploration to serve as the companies Chief Geologist and Internal Consulting Geologist. Early in his career, Mr. Muraro gained underground experience at Keno Hill, HB Mine, Sullivan, and Western Mines. His tenure at Cominco was marked by direct involvement in the discovery and subsequent successful development of the Westmin Mine at Buttle Lake, the Polaris Mine on Little Cornwallis Island in the high Arctic, and Snip Mine on the Iskut River. Following his service at Cominco, Mr. Muraro assumed the role of Vice President, Exploration at Romanex and International Barytex Resources, contributing his expertise to international gold projects.
Mr. Muraro, who was awarded the Spud Huestis award in 2021 for his outstanding contributions to the industry and excellence in exploration, worked as an independent consultant (T.W. Muraro Consulting 1993-2016) on base metal and gold exploration projects around the world until his retirement in 2016. In these later years, he served on several boards as Director and/or Advisor, most recently with Imperial Metals. Mr. Muraro’s working relationship with Al Matovich started in the Rossland Mining Camp and shifted to the Alpine Property in the late 80’s.
Appointment of Mr. John Mirko as Technical Advisor to the Board.
Mr. Mirko will be appointed as Technical Advisor to the board on closing of the transaction. Mr. Mirko has over 40 years’ experience in the mining industry, past President and Founder of Canam Alpine Ventures Ltd. (recently sold to Vizsla Resources Ltd.), currently President and Founder of Canam Mining Corp. and Rokmaster Resources Corporation.
From 1986 to 2010 Mr. Mirko the founder, President-CEO and Director of 4 public mining-exploration companies and a founder and Director of 3 others. He has been self-employed in the sector since 1972 as a prospector, contractor and consultant involved in exploration, development and mine construction of various projects in 12 counties, and commercial production of mineral concentrates and metal products from 5 of the projects.
In 2008, Mr. Mirko was a recipient of the ‘E. A. Scholtz Medal for Excellence in Mine Development’ from the Association for Mineral Exploration of British Columbia, and in 2009, the Mining Association of British Columbia’s ‘Mining and Sustainability Award’ for the MAX Mine.
Mr. Mirko is currently a member in good standing of the Society of Economic Geologists, Inc., the Canadian Institute of Mining, Metallurgy and Petroleum, the Prospectors and Developers Association of Canada and AME BC.
Transaction Details
The Agreement provides for the purchase of all the minerals claims and crown grants held by the Privco that make up the Alpine Gold Property. At closing Copper Quest will issue 14,177,517 Copper Quest common shares to Privco at a deemed price of $0.175c per share. The Shares will have a 24-month escrow agreement from closing date.
Additionally, Copper Quest will reimburse $225,000 towards the 2025 expenditures of the Property that was completed earlier this year and a 2 percent NSR will be granted to Privco on closing of the Acquisition with half being able to be bought back for CAD$1-million.
Closing is subject to a 45-day due diligence period, exchange approval and other customary closing conditions. Closing may occur prior to the 45-day due diligence period. A finder’s fee is payable in common shares in connection with the transaction.
Qualified Person
Brian Thurston, P.Geo., the Company’s President, CEO and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects , has reviewed and approved the technical information in this news release.
Gold: Global Demand & Supply
Global demand for gold remains strong, supported by persistent geopolitical uncertainty, inflationary pressures, and ongoing central bank purchases. At the same time, supply growth is limited, with declining reserves at mature mines, few large-scale discoveries, and rising development costs. This tightening supply backdrop highlights the strategic value of advancing new gold projects in secure, mining-friendly jurisdictions. Copper Quest is aligned with these global trends, positioning Alpine to contribute to the next generation of significant gold discoveries.
Stock Options
The Company has granted stock options to Directors, Management, and Consultants of the Company to acquire an aggregate of 2,600,000 common shares in the capital of the Company, pursuant to the Company’s Equity Incentive Plan. The stock options are each convertible into a common share of the Company at an exercise price of $0. 20 until November 13, 2030.
About Copper Quest Exploration Inc.
Copper Quest ( CSE: CQX; OTCQB: IMIMF; FRA: 3MX ) is focused on building shareholder value through strategic acquisitions and the exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises five critical mineral projects that span over 40,000+ hectares in great mining jurisdictions.
Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property, Copper Quest has a 100% interest in the 5,389-hectare Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700-hectare porphyry copper-molybdenum RIP Project, also in the Bulkley Porphyry Belt.
Copper Quest has a 100% interest in the Nekash Copper-Gold Project, a porphyry exploration opportunity located in Lemhi County, Idaho, along the prolific Idaho-Montana porphyry copper belt that hosts world-class systems such as Butte and CUMO. The project is fully road-accessible via maintained U.S. highways and forest service roads and currently consists of 70 unpatented federal lode claims covering 585 hectares.
Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.
Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. For more information on Copper Quest, please visit the Company’s website at Copper Quest .
On behalf of the Board of Copper Quest Exploration Inc.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Investor Relations
info@copper.quest
Forward Looking Information
This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘ forward-looking statements ‘) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’, and similar expressions, or statements that events, conditions, or results ‘will’, ‘may’, ‘could’, or ‘should’ occur or be achieved. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3309c0ba-17fd-4a57-b498-e8a3c49534fc
News Provided by GlobeNewswire via QuoteMedia
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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.
How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.
While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.
From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.
New 52-Week Highs Finally Picking Up
If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.
As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.
Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.
The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.
Trend Check: GoNoGo Still “Go”
The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.
Active Bullish Patterns
We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.
Failed Bearish Patterns
In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.
The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.
We’ll continue to monitor these formations as they develop because, at some point, that will change.
Regardless of how the gold price is doing, the top gold-mining companies are always making moves.
Right now, gold is in the limelight — stimulated by increasing global inflation, geopolitical turmoil and economic uncertainty, the gold price is repeatedly setting new highs in 2025, and broke through the US$4,400 per ounce mark in October.
Rising safe-haven demand for gold alongside concerns over gold mine supply have pushed the metal to record highs in recent years. and market watchers are eyeing world’s top gold-mining companies to see how they respond to market dynamics.
While the future of the economy remains uncertain, the rising gold price has been a boon to gold-mining companies as it improves their margins after several years of high inflation increasing the costs associated with mining operations.
According to US Geological Survey data, gold production came in at 3,300 metric tons in 2024. China, Australia and Russia were the top three gold-producing countries last year.
But what were the top gold-mining companies by production in 2024?
Read on to find out which companies produced the most gold this past year.
1. Newmont (TSX:NGT,NYSE:NEM)
Production: 213.03 metric tons
Newmont is the world’s top gold-mining company. In 2024, the company reported production of 192.96 metric tons of gold.
Newmont has a diverse portfolio of assets, with significant operations in North and South America, Australia and Africa.
Its portfolio includes a 38.5 percent interest in Nevada Gold Mines in Nevada, US, through a joint venture with majority owner Barrick Mining (TSX:ABX,NYSE:B).
In 2024, the Nevada Gold Mines complex produced 2.68 million ounces (83.48 metric tons) of gold. Newmont’s attributable share is 1.03 million ounces, or 32.14 metric tons.
The company’s next largest operation is its wholly owned Ahafo South Complex in Ghana. It consists of three mines, the Subika and Awonsu open pits, and the Subika underground mine. Last year, the asset produced 798,000 ounces (24.28 metric tons) of gold for Newmont. The company’s Ahafo North open pit mine achieved commercial production in late 2025 and is expected to average 275,000 and 325,000 ounces of gold per year.
In January 2025, Newmont sold its Porcupine Complex in Ontario, Canada, to Discovery Silver for total consideration of US$425 million. In 2024, the mine produced 270,000 ounces (8 metric tons) of gold. The sale is part of Newmont’s larger divestiture of US$4.3 billion in non-core assets.
2. Barrick Mining (TSX:ABX,NYSE:B)
Production: 121.65 metric tons
Barrick Mining produced 121.65 metric tons of attributable gold in 2024, landing it as the second highest gold producer in the world. Like Newmont, Barrick is a global producer and owns assets on nearly every continent.
Barrick’s largest operation is its 61.5 percent stake in Nevada Gold Mines alongside Newmont. The gold complex accounted for 1.65 million ounces, or 51.34 metric tons, of Barrick’s gold production in 2024.
The company’s second-largest producing asset is its 80 percent owned Loulo-Gounkoto gold complex in Mali, which produced 578,400 ounces of gold in 2024 for Barrick.
While much of Barrick’s production has remained steady over the past several years, disagreements with the Malian government, run by a military junta since a 2021 coup, has brought uncertainty to its operations there.
In 2024, the government accused Barrick of failing to pay its taxes amid changes to royalty rights and mining licenses. It arrested four workers there and issued an arrest warrant for then-CEO Mark Bristow.
In June 2025, the Mali government placed the mine under provisional administration, as a resolution of the dispute failed to materialize.
3. Agnico Eagle Mines (TSX:AEM,NYSE:AEM)
Production: 108.41 metric tons
In 2024, Agnico Eagle produced 108.41 metric tons of gold, taking third place among the world’s biggest gold producers. It wholly owns its portfolio of 11 mines, with seven in Canada, two in Mexico and one in each of Australia and Finland.
The company’s Detour Lake and Canadian Malartic mines in Canada are some of the world’s biggest gold mines.
In 2024, its Detour Lake operation, in Ontario near the Québec border, produced 671,950 ounces (20.9 metric tons) of gold. Just behind was the Canadian Malartic Complex in Québec, which produced 655,654 ounces (20.4 metric tons) in 2024.
Gold production at Canadian Malartic peaked at 715,000 ounces (22 metric tons) in 2021 The mine is a combination of open pit and underground mines; however, the main open pit was depleted in 2023, and the mine is expected to transition to fully underground operations by 2029.
4. Navoi Mining and Metallurgy Company
Production: 96.42 metric tons
In 2024, Navoi Mining and Metallurgy Company produced 96.42 metric tons of gold. NMMC is the largest mining company operating in Uzbekistan, with 12 mines. The company has been in operation since the 1960s, when the country was still part of the Soviet Union.
NMMC’s primary asset is the Muruntau mine, which produced an estimated 2.68 million ounces of gold in 2024. Muruntau is the world’s largest open pit mine and the second highest gold producing mine in the world. It has been in production since 1969.
The company is working on modernizing its operations and considering a potential public listing.
5. Polyus (LSE:PLZL,MCX:PLZL)
Production: 93.36 metric tons
Polyus produced 93.37 metric tons of gold in 2024. The gold company is the largest gold producer in Russia from five wholly owned operations in the country.
Polyus holds significant proven and probable gold reserves of 101 million ounces, or 3,141 metric tons.
Its largest asset is the Olimpiada mine in Eastern Siberia. In 2024, the mine produced 1.48 million ounces (46.93 metric tons) of gold, putting it among the top gold operations in the world. Its second biggest mine is Blagodatnoye, also in Siberia, which produced 500,300 ounces (15.56 metric tons) of gold in 2024.
6. AngloGold Ashanti (NYSE:AU,ASX:AGG)
Production: 82.35 metric tons
AngloGold Ashanti produced 82.74 metric tons of attributable gold in 2024, putting it among the top Africa-based gold mining companies.
The company has a portfolio of nine mining assets spread across seven countries in Africa, South America and Australia, as well as numerous exploration projects around the world.
AngloGold’s largest wholly owned operation is the Geita mine in Northwest Tanzania. The property consists of multiple open-pit and underground operations, which produced 483,000 ounces (15 metric tons) of gold in 2024.
The company also owns a 45 percent interest in the Kibali mine located in the Democratic Republic of Congo. The mine is the largest gold operation in Africa, producing 686,000 ounces (21.34 metric tons) in 2024, with 308,700 ounces (9.6 metric tons) attributable to AngloGold. The remaining ownership in the mine is held by Barrick Mining at 45 percent and the DRC government at 10 percent.
7. Kinross Gold (TSX:K,NYSE:KGC)
Production: 66.19 metric tons
Kinross Gold ranked seventh on our list of top gold producers with 66.17 metric tons of attributable gold equivalent production in 2024. Kinross maintains considerable and steady output from a portfolio of six assets across Canada, the US, Brazil, Chile and Mauritania.
Kinross has full ownership over all its operating assets, with the exception of its 70 percent owned Manh Choh mine in Alaska, US. The company began processing ore from Manh Choh at its Fort Knox operations through the Peak Gold joint venture in 2024.
The biggest contributor to Kinross’s output is its Tasiast mine in Western Mauritania, which produced 622,394 ounces (19.36 metric tons) of gold in 2024. Tasiast is currently an open-pit operation, and the company has been working to explore the underground potential of the mine at several key targets.
Among Kinross’ other assets, Paracatu stands out with its 528,574 ounces (16.44 metric tons) of gold production in 2024, making it the third largest gold mine in Brazil.
8. Gold Fields (NYSE:GFI)
Production: 64.21 metric tons
Gold Fields was the eighth biggest gold company in 2024, producing 61.75 metric tons of the yellow metal. The company is a globally diversified gold producer with nine mining operations across Australia, Chile, Peru, Ghana and South Africa. The company also owns the Windfall gold project in Canada.
Gold Fields’ most significant gold operation is the Tarkwa mine in Southern Ghana, one of the largest gold mines in West Africa. Gold Fields holds a 90 percent interest in the mine, with the remaining 10 percent owned by the Government of Ghana.
The mine consists of four open pits. In 2024, the operation produced 537,000 ounces (16.7 metric tons) for Gold Fields.
Its next largest asset is its wholly owned St Ives complex in the Eastern Goldfields region of Western Australia. The operation, which commenced production in the 1980s, currently consists of two open pits and two underground mines. It delivered 331,000 ounces (10.3 metric tons) of gold in 2024.
9. Zijin Mining Group (OTC Pink:ZIJMF)
Production: 62.21 metric tons
In 2024, Zijin Mining Group produced 62.21 metric tons of attributable gold from its mines across Asia, Africa, Australia and South America. Although the company is not exclusively a gold producer, its substantial portfolio of assets has helped it become China’s leading gold company.
Its most significant contributor to gold production came from its Norton complex near Kalgoorlie, Western Australia. The asset is a conglomeration of several different mines and delivered 263,000 ounces (8.18 metric tons) of gold in 2024.
Zijin’s next largest gold operation is Buriticá, an underground gold mine located near Medellín, Colombia, of which it holds 69.28 percent ownership. In 2022, the mine underwent an expansion that included upgrades to its mining equipment, improving the overall processing capacity. In 2024, the mine produced 322,000 ounces (10.02 metric tons) of gold, with 223,000 ounces (6.94 metric tons) attributable to Zijin.
10. Harmony Gold Mining Company (NYSE:HMY,JSE:HAR)
Production: 47.51 metric tons
In 2024, Harmony Gold Mining Company produced 47.51 metric tons of gold, making it the world’s 10th largest gold mining company.
The majority of the company’s large portfolio of wholly owned operations are located in South Africa, and it also operates the Hidden Valley mine in Papua New Guinea.
Harmony Gold’s top operation is the Mponeng mine in Northern South Africa. The underground mine is among the deepest in the world, where gold is retrieved from depths of approximately 4 kilometers. In the calendar year 2024, Mponeng produced 320,993 ounces (9.98 metric tons) of gold.
Harmony also owns the Moab Khotsong mine in Northern South Africa, an underground mine consisting of three vertical shaft systems. It started production in 2003, making it one of South Africa’s younger deep-level underground mines. In 2024, the mine contributed 202,742 ounces (6.31 metric tons) to Harmony’s total output.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Chris Marcus, founder of Arcadia Economics, shares his thoughts on silver and gold.
While it’s impossible to know exactly how precious metals prices will move in the short term, he’s confident they will maintain an upward trajectory in the long term.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management and founder of Schiff Gold, shares his outlook on gold and silver prices.
He also discusses Bitcoin and emerging markets.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Investor Insight
With strategic, US-based assets, Trigg Minerals is well-positioned to become a cornerstone supplier of antimony and tungsten into the United States and allied markets. With a sharpened focus on critical minerals in Tier-1 jurisdictions, Trigg is executing a strategy that aligns with urgent national security and energy transition needs.
Overview
Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging leader in the global critical minerals space, focused exclusively on the development of antimony and tungsten assets in the US – both metals designated as critical minerals by the United States, Canada, Australia and the European Union for its role in national defense, energy transition technologies, and advanced industrial applications.
Global supply of both antimony and tungsten is highly concentrated, with more than 80 percent controlled by China and Russia. Export restrictions, sanctions and the depletion of strategic stockpiles have created acute shortages, driving demand for alternative, conflict-free sources. This geopolitical backdrop creates a once-in-a-generation opportunity for new suppliers to anchor Western supply chains.
Trigg’s strategy is firmly focused on developing critical minerals projects in Tier-1 US jurisdictions, where stable regulatory frameworks, established infrastructure and strong government support provide a competitive advantage.
The company’s flagship Antimony Canyon project in Utah is one of the largest undeveloped antimony systems in the country, now secured through patented mining claims that streamline the pathway to production. Complementing this is the Tennessee Mountain tungsten project in Nevada, a historic tungsten district with confirmed high-grade mineralisation, and the newly acquired Central Idaho antimony project, which offers district-scale potential in a historically productive region.
By advancing this portfolio, Trigg aims to establish itself as a vertically integrated supplier, from mine development through to downstream smelting and refined metal production. With strong shareholder support, active engagement with US government and defence stakeholders, and membership in international industry associations, Trigg Minerals is positioned to play a leading role in rebuilding secure Western supply of antimony and tungsten.
Company Highlights
- ASX-listed explorer advancing critical mineral projects in the United States, with a focus on antimony and tungsten.
- Antimony Canyon Project (Utah) – flagship project with patented claims, high grades and a streamlined pathway to development.
- Tennessee Mountain Project (Nevada) – historic tungsten district with confirmed high-grade mineralisation.
- Central Idaho Antimony Project – district-scale landholding with grades up to 17.6 percent antimony.
- Optionality in Australia, including Wild Cattle Creek, one of the world’s highest-grade undeveloped antimony resources.
- Strong financial position and strategic investment support, including backing from Tribeca Investment Partners.
- Proposal to rebrand as American Antimony and Tungsten at the November 2025 AGM to reflect US focus.
Key Project
Antimony Canyon Project
Antimony Canyon, located in Utah, is Trigg’s flagship project and one of the largest undeveloped antimony systems in the United States. Historically mined during the 20th century but never subject to modern exploration, the district hosts multiple high-grade stibnite deposits. In 2025, Trigg consolidated control through the acquisition of 20 patented claims, giving the company full ownership of both surface and mineral rights. This control materially de-risks permitting by allowing the project to proceed under Utah’s streamlined Mined Land Reclamation Act, avoiding lengthy federal processes.
An exploration target of 6.1 to 6.9 million tonnes (Mt) at 1.4 to 2.3 per cent antimony, containing between 86,000 and 158,000 tonnes of antimony metal, has been established on these claims. Sampling programs have confirmed exceptional grades, including channel results up to 33.2 percent antimony. With no active US antimony production, Antimony Canyon offers a unique opportunity to establish domestic supply, with Trigg advancing studies for a pilot-scale mining operation and downstream smelting in partnership with Metso, leveraging Ausmelt technology for the production of refined antimony metal.
Tennessee Mountain Tungsten Project
In August 2025, Trigg expanded into tungsten through the acquisition of the Tennessee Mountain project in Nevada, another Tier-1 US jurisdiction. This historic mining district hosts the Garnet Mine and widespread skarn-hosted tungsten mineralisation. Historical trenching and drilling reported thick intersections of mineralised zones, including 24.9 metres at 0.65 percent tungsten trioxide and 10.67 metres at 0.98 percent tungsten trioxide. A non-JORC historical estimate of 0.71 Mt, grading 0.3 to 0.5 percent tungsten trioxide, underscores the scale and potential of the system. With tungsten also recognised as a critical mineral for defence and clean energy technologies, Tennessee Mountain provides diversification and growth within Trigg’s US portfolio.
Central Idaho Antimony Project
In September 2025, Trigg acquired the Central Idaho antimony project, located within the historically productive Swanholm Mining District. Early fieldwork has already confirmed very high-grade mineralisation, including assays up to 17.6 percent antimony from surface samples, with associated gold values. The project covers a district-scale landholding in an area geologically analogous to Perpetua Resources’ Stibnite gold project, which has received substantial US federal support. With minimal historic disturbance and no legacy tailings, the project offers a clean environmental baseline and a potentially straightforward permitting pathway.
Australian Projects
While Trigg’s near-term focus is firmly in the US, the company maintains optionality through its Australian portfolio. The Wild Cattle Creek deposit in New South Wales contains a JORC 2012 resource of 1.52 Mt at 1.97 percent antimony, representing ~30,000 tonnes of contained metal and ranking as one of the world’s highest-grade undeveloped antimony deposits. Additional Australian projects, including Taylors Arm, Spartan and Nundle, as well as the Drummond gold project in Queensland, provide longer-term exploration upside.
Management Team
Timothy Morrison – Executive Chairman
Tim Morrison is a highly experienced executive in the Australian resource and capital markets sector. With a background in law and investment banking, Morrison has held senior roles in both private and public resource companies, including those focused on critical minerals, base metals, and energy. His leadership at Trigg is defined by a clear strategic focus: unlock value from the Wild Cattle Creek deposit and position the company as a cornerstone in the global antimony supply chain. Morrison brings extensive experience in stakeholder engagement, project financing, and government relations, having previously led funding rounds, IPOs, and major project negotiations across multiple jurisdictions. His vision for Trigg is underpinned by a disciplined growth strategy and sovereign supply positioning.
Jonathan King – Chief Geologist
Jonathan King is a seasoned geologist with over 20 years of experience in mineral exploration and resource development. He has worked across a broad range of commodities including antimony, gold, copper, and rare earths, and has been instrumental in leading exploration teams across Australia, Southeast Asia and Africa. At Trigg, King is responsible for designing and executing the company’s exploration programs, including the upcoming high-impact drill campaign at Wild Cattle Creek. His technical leadership ensures that resource expansion is driven by rigorous geoscientific methodology, with a focus on unlocking district-scale potential across the broader Achilles project area.
Andre Booyzen – Non-executive Director
Andre Booyzen is an experienced mine operator and leader and has 25+ years of experience in operational, senior and executive roles, and is a specialist in antimony mining. He brings extensive experience in mine development, operational strategy, and off-take agreements. Booyzen previously served vice-president of Mandalay Resources (TSX:MND,OTCQB:MNDJF), where he had full strategic and operational control including product sales, off takes and funding negotiations at the Costerfield gold-antimony mine in Victoria, currently Australia’s only producer of antimony concentrate. Booyzen also served on the board of the Minerals Council of Australia (Victoria) for more than five years and was chairman for three of those.
Chris Gregory – Non-executive Director
Chris Gregory is a highly accomplished global mining executive and geologist with over 30 years of experience. He has an extensive leadership track record in discovery, development, mine operation and strategic growth across a wide range of commodities and jurisdictions. Gregory’s career included 22 years with Rio Tinto, where he led the discovery and evaluation of Sepon gold/copper deposit in Laos. He was vice-president, exploration and geology at Mandalay Resources, where he was instrumental in the success of the Costerfield Antimony/Gold mine in Victoria for more than 10 years up to 2022.
Nicholas Katris – Non-executive Director and Company Secretary
Nicholas Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a chartered accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the board and executive management teams. His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Katris has worked across Australia, Africa, Brazil and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies. He currently serves as company secretary for Leeuwin Metals (ASX:LM1) and Perpetual Resources (ASX:PEC).
James Graf – Non-executive Director
James Graf has over 35 years of international capital markets, M&A and corporate management experience, including roles as CEO, CFO and/or board director of eight US-listed special purpose acquisition companies, and as a managing director at Deutsche Bank in Hong Kong and Merrill Lynch in Singapore. Graf currently serves as CEO and board director of Graf Global (NYSE:GRAF) and as interim CFO of NKGen Biotech (OTC:NKGN). He was previously a board director of Velodyne Lidar (Nasdaq:VLDR) and also founded an enterprise software company with operations in the US, Malaysia and Ukraine.
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(TheNewswire)
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia TheNewswire – November 13th, 2025 Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news release dated October 20, 2025 (the ‘ Initial News Release ‘), the Company has upsized and closed its previously announced non-brokered private placement of units of the Company (‘ Units ‘) at an issue price of $0.10 per Unit (the ‘Private Placement’ ). Due to strong investor demand, the Private Placement was increased from 12,500,000 Units to the issuance of 17,450,000 Units for gross proceeds of $1,745,000.
The Company also announced it has amended the terms of the warrants forming part of the Units (the ‘ Amendmen t’). As announced in the Initial News Release, each Unit was to consist of one common share of the Company (a ‘ Share ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘ Warrant ‘). Each Warrant was to entitle the holder to purchase one Share for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.175, subject to an acceleration expiry clause (the ‘ Acceleration Clause ‘), whereby if the Shares closed at or above $0.25 for ten (10) consecutive trading days on the Canadian Securities Exchange, the Company would have the right to accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants would expire on the 30 th calendar day after the date of such news release. As a result of the Amendment, each issued Unit now consists of one Share and one full Warrant, with each Warrant entitling the holder to purchase one Share for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.175, without the Acceleration Clause.
The Company intends to use the net proceeds from the Private Placement primarily for drilling at its Silver King project and for general corporate purposes. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary. The Company expects to accept additional subscriptions of Units in the coming days for an approximate amount of $125,000.
In connection with the closing of the Private Placement, the Company issued an aggregate of 919,960 finder’s warrants (the ‘Finder’s Warrants’ ) and paid finder’s commissions of $ 92,398 to certain qualified finders. Each Finder’s Warrant is exercisable for a period of twenty-four (24) months from the date of issuance to purchase one Share at a price of $0.10. In addition, the Company paid a cash fee of $15,000 to a financial advisor.
All securities issued or issuable in connection with the Private Placement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
Multilateral Instrument 61-101
The Company has issued an aggregate of 303,275 Units pursuant to the Private Placement to certain ‘related parties’ of the Company (the ‘ Interested Parties ‘), in each case constituting, to that extent, a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘ MI 61-101 ‘). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Parties in the Private Placement in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Private Placement nor the securities issued in connection therewith, in so far as the Private Placement involves the Interested Parties, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the Private Placement and the participation therein by the Interested Parties therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.
About Prismo Metals Inc.
Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper project in Arizona (Hot Breccia).
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Prismo Metals Inc.
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Gordon Aldcorn, President gordon.aldcorn@prismometals.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the intended use of any proceeds raised under the Private Placement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and those risks set out in the Company’s public disclosure record on SEDAR+ ( www.sedarplus.com ) under the Company’s issuer profile .
Although management of the Company has attem pted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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