welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at our top stories for the [Music] week it's been a quiet week for Gold after last week's US Federal Reserve excitement the yellow metal largely stained the course moving in a relatively narrow range elsewhere in the precious metal space the Palladium price fell below the Platinum price for the first time since April 2018 slipping as low as 8766 per ounce on February 8th


padium soared in 2022 to an all-time high but substitution from automakers which used both platinum and Palladium in catalytic converters is now Weighing on its price looking over to uranium this week all eyes were on camoo as the major producer released its financial and operating results for 2023 after Kazam prom cut its 2024 production guidance last week Market Watchers were Keen to get insight on kico's output for 2023 and its expectations for this year the company said it produced 17.6 million pounds of


uranium last year and has set its guidance at 22.4 million for 2024 it's worth noting that 2023 is 17 .6 million was lower than the company's revised September guidance of1 18.7 million cico originally planned to produce 20.3 million pounds for the year the company's results came with extensive uranium Market commentary from president and CEO Tim gitell who expressed continued optimism about the outlook for the industry he also shed light on kico's Contracting strategy and touted its acquisition of a 49% interest


in Westinghouse electric company which closed its past November company shares were nevertheless on the decline following the news as were other entities in the uranium space including the brought physical uranium trust as usual there's a lot going on in the uranium industry and next week I'll be speaking with Justin hun of uranium Insider to unpack recent developments if you have a question you'd like me to ask him please let me know in the comments before we wrap up I want to take a quick look at a piece of recent


copper news privately held Cobalt Metals whose backers include the likes of Bill Gates and Jeff Bezos said this week that it's found a massive copper deposit in Zambia Cobalt has over 60 projects across three continents and it's using artificial intelligence to try to gain an edge in exploration in simple terms the company's goal is to quantify and reduce exploration uncertainty to produce better results Cobalt has reportedly been drilling at its Zambian project for just over a year and


according to a Bloomberg article president Josh Goldman believes its shaping up to be extraordinary he compared the assets potential size and grade to those of kamoa Kula a copper complex in the Democratic Republic of Congo that's being developed by a joint venture that includes Ivan hle mines and China's sigin mining group while the copper price trended down in 2023 some experts believe the market is heading toward a uranium like Supply crunch as demand increases and miners face slow development timelines it'll be


interesting to see if Cobalt's famous backer can help bring the company's damb beam project to Market any quicker than usual that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time thank you for watching if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time


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