Elena Nikulina

Drilling activity increases since March 2024, Ronnie Stoeferle notes

Drilling activity increases since March 2024, Ronnie Stoeferle notes
Mining financing down, drilling up

Junior and intermediate mining companies have seen a decline in financing compared to earlier highs, according to Ronnie Stoeferle. However, he notes that with gold, silver, copper, and GDXJ outperforming previous averages, recent capital raises are likely to be profitable.

Stoeferle highlights that drilling activity has been steadily rising since March 2024 as new capital is deployed into exploration efforts.

Earlier this month, Ronnie Stoeferle observed that the BofA Bull & Bear Indicator fell from 8.4 to 7.4, in line with sentiment shifts seen in 2023. He previously argued that gold's recent selloff was driven by global USD scarcity and a hawkish Federal Reserve. These recent signals have formed the backdrop for renewed exploration financing in the mining sector.

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