American Rare Earths has lifted the Cowboy State mine Mineral Resource Estimate within the Halleck Creek project in Wyoming to about 547.5 million tonnes at a 1,000 ppm TREO cut-off, following 18 additional channel samples and expanded geological mapping. Around 63.9 million tonnes have been upgraded from inferred to indicated, and 27 in-fill drill hole locations have been permitted by the Wyoming Department of Environmental Quality to support a forthcoming prefeasibility study and later technical work. The project also benefits from up to $7.1 million in state-backed, non-dilutive funding secured in 2024.

Gold prices edged lower on Monday, with spot gold at approximately $4,069 an ounce, down 0.3%, as expectations for a US interest rate cut in December diminished. US gold futures mirrored this trend, trading near $4,071 an ounce for a 0.5% loss, influenced by a stronger US dollar making bullion more expensive for non-dollar holders. The probability of a 25-basis-point rate cut has fallen to 45% from over 60% last week, as the Federal Reserve maintains a hawkish stance following the end of the US government's longest shutdown.

Gold Fields has significantly increased its investment in the Windfall gold project in Quebec, revising capital expenditure to C$1.7-C$1.9 billion from an initial C$790 million. The project is expected to produce an average of 306,000 ounces of gold annually, with an impressive Internal Rate of Return of 34% and All-in Sustaining Cost of $758 per ounce. Construction is set to begin in Q2 2025, with first production anticipated by late 2026, while a crucial impact-benefit agreement with local First Nations remains pending.