About 20.5 million US jobs were lost in April, the steepest plunge in payrolls since the Great Depression, Reuters reported - although the figure was smaller than analysts' expectations of 22 million jobs lost.Further reports including retails sales data are due out this week.Gold has returned to hover around the US$1,700 an ounce mark on the spot market, about $1,704/oz earlier.Anglo American (LS...Read More
There’s no denying that it’s a frothy market and metals investing is still dogged by uncertainty. But there are growth opportunities to be had despite many commodities still being undervalued. Some of them have huge upside potential.But which ones belong in your stock portfolio? Four metals. Four exemplary stocks. Let’s explore the options for investors seeking upside today in so...Read More
The yellow metal has been a proven winner in the market turmoil this year. While TSX stocks at large corrected 30% in just 20 trading days, gold and allied assets stayed notably stronger amid the pandemic crash. Some of the hardest-hit sectors, like aviation and hospitality, are still down about 50%, despite the recent bounce back. However, TSX gold miner stocks have surged almost 60% so far this...Read More
The coronavirus has hit the world in a way nobody could have ever expected. Economies have been shut down, throwing millions of people put out of work and forcing governments to act quickly to try to minimize the impact. One TSX industry that will see a big impact from this is gold stocks.There isn’t much that a lot of these governments can do. Plus, it’s unprecedented that so many peo...Read More
Cigar Lake underground uranium mine, Saskatchewan, Canada. Source: Cameco.com Cameco has announced that it is resuming production at the uranium hexafluoride (UF6) plant within its Port Hope conversion facility and its Blind River refinery in Ontario. The two operations are planned to restart the week of May 18 and ramp-up to full production by the week of May 25.On April 8, the company announce...Read More
Nordberg HP900 cone crusher Credit: Metso Metso has introduced the Nordberg HP900 series cone crusher for the aggregate and mining markets.The HP900 is designed to bring operators increased performance at reduced capital costs and is an upgrade to the well-known HP800 cone crusher that has more than 175 installations with approximately 80% of the parts compatible between the two models. HP900 co...Read More
Image from Team 1305. On April 3, Vale (NYSE: VALE) launched a covid-19 challenge in Canada to help generate innovative solutions during the pandemic by offering financial support of up to C$1 million. Nearly 1,800 solutions were submitted globally and over 300 came from Canada."The participation on this initiative was incredible, exceeding my expectations and is a great example of how open inn...Read More
Aurora gold mine, Guyana. (Image courtesy of Guyana Goldfields) Gran Colombia Gold (TSE: GCM) has announced that it has signed a definitive agreement for a business combination with Gold X Mining. The company has also submitted a proposal to acquire Guyana Goldfields in an all-share deal, which, on April 27, announced a $105-million cash-and-stock sale to China-focused Silvercorp Metals.The...Read More
Dixie Lake drilling in Ontario's Red Lake District - Image courtesy of Great Bear Resources. Great Bear Resources (TSX: GBR) announced on Monday that it has intersected the deepest and highest-grade interval to date on its flagship Dixie gold Project in the Red Lake district of Ontario.The company said that drilling intersected deep extensions of the Dixie Limb around 740 metres below surface and...Read More
Capitan is in a district near a town called Penoles where the Jesus Maria, San Raphael and Capitan mines were previously operated, although the plan is not to restart the former mines.Read More
The diversified miner made the response among a series of answers to shareholder questions which were posed in writing this year, due to the COVID-19 restrictions on its annual general meeting last week. Anglo American said its thermal coal operations in South Africa constituted a "strong and attractive" business but the company had been reducing its thermal coal production footprint f...Read More
The raising comes with an underwritten institutional placement with JP Morgan, Merrill Lynch and Macquarie for $600 million, with the new shares amounting to 18.6% of issued shares. A further $75 million would be sought in the form of a non-underwritten share purchase plan. If demand is high, Incitec may expand the SPP. The placement is priced at $2 per share, around a 10% dis...Read More
Share this articleVANCOUER, B.C. - SSR Mining Inc. and Alacer Gold Corp. have signed a deal to merge operations.Under the all-stock deal, Alacer shareholders will receive 0.3246 SSR Mining shares for each Alacer share held. The exchange ratio implies a value of $8.19 per Alacer share, based on closing prices Friday.The combined company will continue as SSR Mining and be headquartered in Denver. SS...Read More
Elon Musk had a baby last week. And he named it X ?+ A-12...I feel like those words should be the opening to a story about Elon Musk inventing a new type of rocket engine or 200-mph passenger submarine. But, no. Elon Musk and his girlfriend, singer Grimes, had a literal baby and named it X ?+ A-12.As you can imagine, the unusual name sparked a flurry of online discussion and debate with social med...Read More
Executives at SSR Mining (TSX: SSRM; NASDAQ: SSRM) and Alacer Gold (TSX: ARR; ASX: AQG) started talking about a possible merger of the two companies in November 2019, and completed all of the site visits required and much of the due diligence to make a decision on a transaction before COVID-19-related travel restrictions put an end to international travel.The business combination the two companies...Read More
Is the Hardrock gold project, 275 km northeast of Thunder Bay in northern Ontario, a shovel-ready gem or a promising project in need of further technical work?Joint-venture partners Premier Gold Mines (TSX: PG; US-OTC: PIRGF) and Centerra Gold (TSX: CG) have painted two very different pictures of the development-stage project in a legal dispute that began late last year.In a statement of claim fil...Read More
Ecuador-focused SolGold (TSX: SOLG; LSE: SOLG) has secured up to US$150 million from streaming company Franco-Nevada (TSX: FNV; NYSE: FNV), which it will use to develop its Alpala copper-gold project.The Australian exploration company said the net smelter returns (NSR) agreement is for an initial US$100 million. Franco-Nevada, which provides companies with upfront cash in exchange for future produ...Read More
Production of so-called battery metals, such as graphite, lithium and cobalt, will have to increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies, the World Bank said on Monday.According to the global lender, over 3 billion tonnes of minerals and metals will be needed to deploy wind, solar and geothermal power, as well as energy storage required for transitioning...Read More
The Blind River refinery produces uranium trioxide which feeds into the hexafluoride conversion plant.Cameco said the "appropriate conditions" were currently in place to resume normal operations."The provinces and communities where we operate are certainly not out of the woods when it comes to this global pandemic, and we must remain vigilant in how we manage our activities during these challengin...Read More
I've been urging you for months to get positioned ahead of the herd and I've speculated that 2020 would see a surge in M&A, quality exploration, and the beginning of a new discovery cycle.The result of declining reserves, too many companies, and a gold bull market, that I believe will prove to be a historic one, has set off an influx of capital in the resource sector that will change the landscape...Read More