What's holding back mining investment?

March 21, 2024
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Investor Insights

Unprecedented forest fire outbreak in Quebec forced shut downs at several mining operations in the province, noted Kitco correspondent Paul Harris.

On Friday Harris recorded Kitco Roundtable with mining audiences manager Michael McCrae and CEO and Co-founder of VRIFY, Steve de Jong.

Unseasonably warm weather resulted in over 150 active fires in Quebec. The plight of the province gained international attention when smoke from the fire enveloped New York City in a deep haze. Several miners, developers and juniors suspended operations due to operating hazards in Quebec.

Wesdome Gold Mines (TSX: WDO) announced yesterday that it temporarily suspended underground activities and surface exploration activities at the Kiena Mine in Val d’Or, Quebec.

Earlier in the month Hecla Mining (NYSE: HL) suspended operations at its Casa Berardi mine.

Steve de Jong joined the podcast to talk about his company's recent raise, $6 million in Series A funding co-led by RCF Jolimont Innovation and Beedie Capital, with participation from Tiny.

In its press release the company said the money will be spent on developing better communication tools.

“A strong critical mineral supply chain is essential for reaching our global energy transition targets, but without a significant shift in the way the mining sector communicates to investors, this is unlikely to happen,” said Steve de Jong said in a news release announcing the investment.

“The raise will help us redefine how deals are shared, understood, and secured.”

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