- Kevin Murphy, Principal Analyst and Head of Mine Economics at S&P Global Market Intelligence, spoke with Brieanna McCutcheon about the latest trends in precious metals from the floor at PDAC 2023
- According to Murphy, Canadian and Australian junior explorers are experiencing a resurgence thanks to better metals prices, their accommodative jurisdictions, and more favorable financing terms
- That said, he expects junior financings to be impacted by the slowing global economy as the year progresses
Kevin Murphy, Principal Analyst and Head of Mine Economics at S&P Global Market Intelligence, spoke with Brieanna McCutcheon about the latest trends in precious metals from the floor at PDAC 2023.
According to Murphy, Canadian and Australian junior explorers are experiencing a resurgence thanks to better metals prices, their accommodative jurisdictions, and more favorable financing terms after a flatter period between 2013 and 2015.
Canadian juniors are benefitting specifically from the ability to issue flow-through shares, which offer tax incentives for investors and support local industry spending.
While there has been considerable optimism surrounding a stellar 2021 and a respectable 2022, Murphy expects gold and silver exploration to slow through the second half of the year as financings decrease due to macro headwinds, including high inflation and hawkish monetary policy.
Silver is down by 17.08 per cent YoY trading at US$21.11 per ounce.
Gold is down by 7.11 per cent YoY trading at US$1,850.62 per ounce.