IM January 2025 – Gold funds up 7% in 2024, total financings 12% lower YOY

From S&P Global

Funds raised by junior and intermediate companies dropped in December, falling 21% to $890 million. Despite an increase in transactions, fewer high-value gold and base/other metals financings weighed down the monthly totals. As a result, year-to-date financings fell 12% to $10.27 billion, the lowest since 2019. The number of transactions rose 24% to 346 — the highest since December 2022 — bringing the year-to-date total to 2,802, up 2% year over year. However, the number of significant financings — transactions valued at more than US$2 million — decreased by nine to 66 in December. There were four transactions valued at over US$50 million, unchanged from November.