In 2022, the budget for gold and also copper has increased the most compared to other metals. Even though battery metals such as lithium were and are strongly in focus with regard to the energy transition, gold remains the first target for global exploration budgets. The second half of 2022 suffered from inflation, geopolitical squabbles and recession fears. And so market capitalizations also fell and financing activities were impacted. Juniors were able to raise just over $12 billion in total. So little compared to 2021, when it was more than US$21 billion. As gold got off to a very good start in 2023, exploration budgets went right up. Costs also went up for mining companies, but as I said, well-financed still smaller gold companies with the right projects should do well in the current year. For example, Revival Gold – https://www.commodity-tv.com/play/revival-gold-pre-feasibility-study-coming-early-2023/ – with its Beartrack-Arnett gold project, located in Idaho. A pre-feasibility study should be completed by mid-year.

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