Three of the four exploration metrics measured by S&P Global Market Intelligence's Pipeline Activity Index (PAI) — drilling activity, initial resources and positive project milestones — decreased in August, as PAI, fell to 84 from 93 in July. They were only partially offset by an increase in significant base metals financings, which was largely driven by Chinese investment of USD$511 million in Ivanhoe Mines. Meanwhile, the decline in the total number of projects reporting drilling results were entirely driven by a fall in gold drilling.
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