Despite the recent rally in stock markets since the crash back in March, the global economy is still in poor shape. Many are still unemployed, and businesses are still operating at reduced capacity.This makes it almost guaranteed that we will see economic output far below capacity for some time.The stock market has largely been unattached to economics lately. With almost all negative news seemingl...Read More
Gold hit an all-time high today for the first time since 2011. That is big news, albeit more for what it signals than the actual event. For a long time now, gold bugs have argued that gold would rise sharply in response to money printing from the American Federal Reserve. This event is now a reality due to unprecedented money printing.What is amazing is the lack of coverage of this event. I did a...Read More
Last September, I’d discussed why the spot price of gold could hit $2,000 in 2020. At the time, I’d pointed to economic and geopolitical factors that were bullish for the yellow metal. Gold looked good coming into this year, but no one could have predicted the incredible events that have shaken the world in 2020. Are fears of a second market crash and a global recession pushing gold to...Read More
Hammerdown project. Image from Maritime Resources. Infill drilling at Maritime Resources' Hammerdown gold project in Newfoundland and Labrador has intersected high gold and silver grades within the footprint of the Hammerdown open pit outlined in this year's preliminary economic assessment (PEA).Drill highlights include 2.5 metres of 22.66 g/t gold and 24.86 g/t silver starting at 39.5 metres,...Read More
The price of gold just topped US$1,900 and is on track to carve out a new record high. Bitcoin, meanwhile, has doubled off the March low.Momentum investors want to know if gold or the digital currency is the better way to go today. Let’s take a look at the current situation to see why this might be a good time to get out of Bitcoin and shift funds to gold stocks.Gold vs. BitcoinIn 2017, Bitc...Read More
One of the hottest assets the last week has been silver, and it appears that there’s no slowing down. Silver stocks have followed suit of many gold stocks, up to 52-week highs just in the last week.Since the start of the coronavirus pandemic, it’s been clear that precious metals would be an excellent investment. Not only would investors be seeking a safe haven, but with so much monetar...Read More
Hovermap scanner Credit: Emesent Emesent, a global technology company, and Deswik, a software developer, have signed a memorandum of understanding to integrate their respective solutions to provide a more comprehensive mine data capture and analysis offering.The two companies would work together to allow mining companies to incorporate high-quality data captured in inaccessible locations into th...Read More
The pandemic has hit many companies. Several companies trading on the TSX are expected to report a decline in revenue and profit for 2020. We see a lot of volatility in the stock market due to uncertainty about earnings. But there are a few companies that are expected to remain profitable throughout the pandemic.Here are two quality, profitable stocks that can act as a defence against market volat...Read More
Bathopele mine in South Africa (Image: Anglo American Platinum) Anglo American Platinum (Amplats) posted a 7% fall in half-year profit on lower output due to shutdowns caused by covid-19.The company reported headline earnings per share of 26.27 rand, compared to 28.15 rand in H1 2019.Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 6% to 13.1 billion rand ($800 millio...Read More
Golden Bull Mountain Ridge Park. Photo by Anna Frodesiak, Wikimedia Commons. As the gold price breaks through $1,900 per oz., Refinitiv has released its review of the gold sector in the second quarter, providing insight into where the demand is coming from - and where it's actually falling.The review shows that as uncertainty around the covid-19 pandemic has boosted investor demand for gold in so...Read More
The main pit at Golden Star Resources' Wassa gold mine in southwestern Ghana's Ashanti gold belt. Credit: Golden Star Resources. Golden Star Resources has announced it will sell its 90% stake in the Bogoso-Prestea gold mine in southwestern Ghana to Future Global Resources for $55 million and contingent payments of up to another $40 million.The mine is about 40 km from Golden Star's Wassa gold...Read More
Strap in. Things are about to get wild for gold.The price of gold opened this morning, smashing through all-time price records, topping over $1,940 an ounce.Source: Barchart.comBut the party is just getting started.And on Wednesday at 2 p.m., gold may face its biggest moment in four decades.Gold's Crisis MomentGold is facing a crisis moment. And I mean that in the most literal way possible.Most of...Read More
Gold continued its upward climb today and made history by touching record prices as worries over the coronavirus pandemic and intensifying U.S.-China tensions weighed on investor sentiment.Spot gold surged 2% to US$1,940.96 per oz. by 11:15 a.m. EDT. Earlier in the day, the spot price set an all-time high by trading at US$1,945.10 per ounce, topping the previous high set in September 2011.Gold fut...Read More
A wave of new mines in the pipeline on Chile's Maricunga gold belt are advancing towards construction just as the price of the precious metal hits its highest level in almost a decade.Gold Fields (NYSE: GFI), Kinross Gold (TSX: K; NYSE: KGC), Rio2 (TSXV: RIO; US-OTC: RIOFF) and Kingsgate Consolidated (ASX: KNC) of Australia are all pushing projects that could enter production by the middle of the...Read More
As the gold price breaks through US$1,900 per oz., Refinitiv has released its review of the gold sector in the second quarter, providing insight into where the demand is coming from - and where it's falling.The review shows that as uncertainty around the Covid-19 pandemic has boosted investor demand for gold in some regions, the rising price has made the yellow metal more expensive in local curren...Read More
Golden Star Resources (TSX: GSC; NYSE-AM: GSS) has announced it will sell its 90% stake in the Bogoso-Prestea gold mine in southwestern Ghana to Future Global Resources for US$55 million and contingent payments of up to another US$40 million.The mine is 40 km from Golden Star's Wassa gold mine, and the sale will allow the company to accelerate the growth and development of its Wassa's resource bas...Read More
Iamgold (TSX IMG; NYSE: IAG) has resumed operations at its Rosebel gold mine in Suriname, which was shut down in June after union leaders asked their members to put down their tools in response to workers testing positive for the coronavirus.The Toronto-based miner said operations resumed on July 24 after it received confirmation and advice from the country's Covid-19 outbreak management team that...Read More
Lynas (ASX: LYC) has signed a contract with the U.S. Department of Defense to start design work for a heavy rare earth element (HREE) separation facility in Texas.The facility would process heavy rare earths from the company's Mt. Weld mine in Western Australia.In April, the Pentagon awarded Lynas and privately held MP Materials funding for rare earths separation facilities in Texas and California...Read More
Teranga Gold (TSX: TGZ; US-OTC: TGCDF) has released a prefeasibility study for its Sabodala-Massawa complex in Senegal that shows the project is a "top tier mine" asset, the company says.The Toronto-based miner bought Massawa from Barrick Gold (TSX: ABX; NYSE: GOLD) in December 2019. After completing the US$380 million-acquisition earlier this year, Teranga began integrating the asset with its fla...Read More
On Tesla's second quarter conference call last week, Elon Musk entreated the industry to: "Please mine more nickel - Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way."Musk's comments couldn't have come at a better time for Mark Selby, president and CEO of Canada Nickel (TSXV: CNC), which owns 100% of the Crawford...Read More