Sponsored by Cytophage Technologies

Copper's Digital Age Impact

In this interview at the Red Cloud Fall Mining Showcase 2024, Malcolm Dorsey, President, CEO and Director of Torr Metals Inc. (TSX-V: TMET), provides insights into the gold and copper markets and his company’s exploration strategy.

Dorsey begins by discussing the current state of the gold and copper markets, touching on price trends and demand factors that influence their exploration focus. He then explains Torr Metals’ strategy of targeting early-stage copper and gold opportunities. The company’s focus is on two main projects, the Latham Copper-Gold Porphyry project in British Columbia and the Filion Gold project in Northern Ontario.

You can read more on the matter here.

What’s going on?

• Copper’s Role in the New Digital Age and Emerging Technologies | Torr Metals with Malcom Dorsey (theDeepDive)

• Bank of Canada nears decision on oversized rate cut (Globe)

• Elon Musk's election promise of $1 million daily giveaway sparks call for probe (Reuters)

• Cabral Gold Projects $49.3 Million NPV as Cuiú Cuiú Gold Mine Nears Production (theDeepDive)

• Canada to Require Firms Hiring ‘High-Wage’ Foreign Workers to Pay More (BNN)

• Venezuela Arrests Former Oil Minister in Latest State Purge (Bloomberg)

• AI Data Centers Are Driving New Demand for Nuclear Energy | ATHA Energy with Troy Boisjoli (theDeepDive)

• Hugh Hefner’s Son Offers to Buy Playboy Brand for $100 Million (WSJ)

• Britain faces warnings of a tech exodus over tax plans ahead of high-stakes budget (CNBC)

• Serabi Gold Hits Record 9,489 Ounces in Q3 2024 (theDeepDive)

• Pentagon chief visits Ukraine in show of support ahead of US election (Reuters)

• Chick-fil-A is releasing its own entertainment app, with family-friendly shows and podcasts (CNBC)

What’s the latest?

• Microsoft: Microsoft will launch autonomous AI agents for businesses through Copilot Studio in public preview next month, expanding beyond its private preview phase. The company also plans to introduce 10 new agents in its Dynamics 365 apps for sales, finance, and service. McKinsey demonstrated that these AI agents could reduce lead times by up to 90%. Microsoft also signed a five-year deal with the U.K. government to provide AI tools across public sector organizations.

• Trump: The Exonerated Five, previously known as the Central Park Five, are suing Donald Trump for defamation. The lawsuit, filed after Trump falsely claimed they pled guilty to murder during a debate, seeks over $75,000 in damages. The men, wrongfully convicted in 1989 and exonerated in 2002, had previously settled with New York City for $41 million.

• Crude Oil: U.S. crude oil futures rose over 2% on Monday, recovering some losses from last week’s 8% decline. West Texas Intermediate crude rose to $70.82 per barrel, while Brent reached $74.50 per barrel. The increase followed China’s benchmark lending rate cut, and Saudi Aramco’s CEO expressed optimism about China’s demand. Despite this, Morgan Stanley predicts a 2025 surplus of 1.3 million barrels per day due to softened Chinese demand and increased supply from OPEC and the U.S.

• BoC: The Bank of Canada is expected to cut interest rates by half a percentage point, following a drop in the inflation rate to 1.6%. This would be its fourth rate cut this year, bringing the policy rate to 3.25% by December. Economists point to a slowing economy, a high unemployment rate (6.5% in September), and a weaker housing market as key reasons for the rate adjustments.

• Wage Hike: Canada is tightening its temporary foreign worker program, requiring businesses to pay high-wage foreign workers at least 20% above the provincial median wage, up from the current median rate. This change, affecting up to 34,000 workers, aims to manage population growth and reduce pressure on housing and services. The unemployment rate is 6.5%, with youth unemployment at 13.5%. In Ontario, the wage floor will rise from C$28.39 to C$34.07 per hour.

NexGold Mining’s gold resource

The stock market and stuff

• Meta releases AI model that can check other AI models' work (Reuters)

• Big Banks are Calling for $3000 Gold | First Nordic Metals with Taj Singh (theDeepDive)

• 10-year Treasury yield rises above 4.11% as investors monitor Fed speeches (CNBC)

• Disney to Name Bob Iger’s Successor in Early 2026 (WSJ)

In the juniors

• Excelsior Mining Secures Final Permit for Johnson Camp Mine Restart (theDeepDive)

• Rua Gold Sweetens Deal to A$22 Million For Siren Gold’s Reefton Assets (theDeepDive)

• Ascot Resources’ $40 Million Gamble to Revive Gold Mines and Resume Production in 2025 (theDeepDive)

• PyroGenesis Signs $27 Million Contract for 20MW Plasma Torch, Bolstering Backlog to Record Levels (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.