We kick off this week’s gold report with news of a major new addition to the Laurion Mineral Exploration (TSXV:LME) team. The Toronto-based miner has appointed Sankarsan (Sean) Ghosal as Strategic Advisor, a move aimed at bolstering the Company’s governance, capital markets capabilities, and technical decision‑making as it advances the Ishkoday Gold-Polymetallic Project in Ontario.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$4,951.44, according to data from ADVFN, down from US$5,063.47 per ounce in our February 11th report, losing more ground after falling from a high of more than US$5,300 in late January. Many traders who bought earlier in the surge have been locking in profits, putting downward pressure on the price. Markets were shocked when Donald Trump nominated Kevin Warsh, who is viewed as relatively aggressive on monetary policy. This reduced expectations of near‑term intense rate cuts, which typically weakens gold. Also, a robust U.S. jobs report (130,000 new jobs vs. 70,000 expected) raised concerns that the Federal Reserve might delay rate cuts. Higher or steady interest rates tend to pressure gold because it doesn’t yield interest.
This week in gold
With gold slipping from recent highs and moving into a period of renewed downward pressure, there’s no better moment to reassess opportunities across the mining lifecycle—a task made easier by three standout developments that emerged over the past week:
On the exploration front, Lundin Gold Inc. (TSX:LUG) announced a $100 million exploration campaign for 2026 at its Fruta del Norte mine in Ecuador. The program includes ~133,000 metres of drilling across multiple concessions in the Zamora Chinchipe province. The goal is to extend mine life by increasing the 5.54 million oz reserve base and identifying new gold and copper‑gold deposits. The campaign uses 18 drilling rigs (7 underground, 11 surface).
On the resource development front, Agnico Eagle Mines Ltd. (TSX:AEM) reported record 2025 gold reserves, supporting stable annual production projections of 3.3–3.5 million ounces through 2028. This positions the company for sustained development and potential expansion across its portfolio.
Finally on the production front, i-80 Gold Corp. (TSX:IAU) has secured a development financing package of up to $500 million, comprised of a royalty sale for $250 million and a gold pre-payment facility for up to $250 million. The Financing Package marks a significant milestone in achieving the Company’s recapitalization plans.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 12,200+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 6,600+ views.
- Tudor Gold (TSXV:TUD) | 5,600+ views.
- B2Gold (TSX:BTO) | 5,300+ views.
- Freegold Ventures (TSX:FVL) | 4,100+ views.
- Monument Mining (TSXV:MMY) | 3,900+ views.
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