$AEM

Goldman Sachs reiterated a $5,400/oz gold forecast by 2027, citing strong central bank demand. Blue Jay Gold (JAY) reported 67% antimony concentrate at 94% recovery from its Steller project, with first products expected soon. Other gold-related stocks mentioned include NEM, AEM, RGLD, and ABX.

Metals Focus reports that 18 major gold miners are advancing on ESG targets, with mixed environmental performance in 2025. Combined Scope 1 and 2 emissions remained stable at 29.9M tonnes of CO2, but emissions intensity rose 7%. Energy use increased 4.8% to 334 PJ. Payments to governments rose 77% to $18.2B, with Barrick Mining contributing the most. Fatalities fell to 21, the lowest since the pandemic.

Gold miners' payments to governments rose 77% to $18.2B in 2025, according to Metals Focus, while local procurement hit a record $30.8B. Emissions intensity increased 7% despite some reductions in Scope 2 and 3 emissions. Safety improved with 21 fatalities, the lowest since the pandemic. Investors focus on ESG performance alongside financial metrics.

Diesel prices in Canada hit a record high of $2.75 per litre, up over $1 from last year, impacting farmers and mining companies. Agnico Eagle Mines (AEM) reports diesel costs 7% of its overall expenses, with further pressure expected in 2027. Rising costs may reduce farm profitability and increase food prices for consumers, according to farmers and analysts.

Canada has 15 gold projects with confirmed reserves, requiring $9.4B in capital, potentially generating $11B/year in revenue. These projects are awaiting permits, with some facing delays of up to 27 years. Gold is tariff-proof, entering the US duty-free, and Canada ranks fourth in global gold production.

Scout Discoveries Corp. announced a $25M private placement, including a $14.8M investment from Agnico Eagle Mines (AEM) for 14.9% ownership. Electrum Group will invest $10.2M, increasing its stake to 30%. Funds will support exploration at Cuddy Mountain, Speed Goat, and other projects. Agnico Eagle may earn up to 70% interest in Scout's Elk City and Muldoon projects through $60M and $30M exploration expenditures, respectively, over eight years.

JPMorgan identified seven top gold mining stocks, citing attractive valuations and strong cash positions. AngloGold, Fresnillo, Barrick, Aura, Genesis, Capricorn, and Zijin Gold were highlighted. AngloGold missed Q2 2026 earnings, while Fresnillo beat H1 2026 estimates. JPMorgan rates 16 stocks as overweight and six as neutral in the sector.

Luca Mining Corp. (LUCA.V) will acquire 100% of the El Barqueño property from Agnico Eagle Mines Ltd. (AEM) for $10M in shares, plus up to $50M in milestone payments. The deal, expected to close in Q4 2026, includes a 2% net smelter return for Agnico Eagle. El Barqueño has a historical resource estimate of 399,265 ounces of gold equivalent indicated and 650,046 ounces inferred. Pre-market, AEM is up 2.09% at $199.70, while LUCA.V is up 3.81% at CAD 1.0900.

U.S.-listed gold miners rose in premarket trading as bullion prices rebounded 1.4% to $4,324.39/oz. Newmont and Barrick Gold each gained 1.2%, while Harmony Gold and Gold Fields rose 3.7% and 2.3%. The dollar softened, and oil prices retreated, supporting gold's rebound after the Fed's rate hike and hawkish stance.

Luca Mining (LUCMF) agreed to acquire the 32,000-hectare El Barqueño project in Mexico from Agnico Eagle. The deal includes US$10M in shares at closing, up to US$30M in milestone payments, and a 2.0% NSR. Closing is expected in Q4 2026, subject to approvals. The project has historical mineral resources but lacks current NI 43-101 compliance.