During the mid-1990s, while I was working at the Tick Hill gold mine south of Mount Isa, Australia ranked among the world’s leading gold producers.

Three decades later, at the recent Diggers and Dealers conference in Kalgoorlie, Western Australia, the Perth Mint showcased a half-tonne gold bar of exceptional purity (99.999%), valued at US$65 million — a fitting symbol of the importance of gold to Australia, where it accounts for roughly 12% of total exports.

In the Weekly Market Digest, US non-farm payrolls for July came in well below expectations, while lower energy prices eased inflation concerns. The combination increased the probability of a Federal Reserve rate cut in September. 

The prospect of lower rates supported precious metals and generated an outsized move in the equities leveraged to them. Industrial commodities also performed well, benefiting from a weaker US dollar, while the related equity benchmarks rallied sharply. 

The Exploration Insights portfolio also had a strong week, led by a US-based base metal producer that reported a significant interval of massive sulfides intersected by a nickel-copper producer and developer in the northern USA, a US-based gold developer advancing its permits, and an Australia-based advanced gold-antimony explorer that updated its exploration target.

In Stock Talk, I reviewed a portfolio update from a Top Pick cash-flowing royalty generator and a project update from an advanced copper explorer in Perú. Finally, a prospect generator’s major partner completes its first stage earn-in to its flagship project.