Energy and airline stocks have been some of the hardest-hit sectors amid the recent market rout. Utilities and telecom stocks largely tracked the broader markets. But one segment that went through the roof and notably outperformed TSX stocks at large is the gold miners.TSX gold miner stocks have stayed notably strong so far this year, even during the COVID-19 crash in March. While rallying physica...Read More
Image from Modular Mining. Modular Mining announced on Wednesday it has launched its Modular Mining Public Application Programming Interface (API). The API is designed for integration and increased openness amongthird-party technologies and Modular Mining's IntelliMine portfolio,including the DISPATCH fleet management and ProVision machineguidance systems.Through the Public API infrastructure,...Read More
Jacobina gold mine is s located in the east central section of Bahia state of Northern Brazil. (Image courtesy of Yamana Gold) Yamana Gold (TSX: YRI; NYSE: AUY) said on Wednesday that the Phase 2 expansion of its Jacobina mine in Brazil could lead to significant increases in production and cash flow generation, reaffirming the mine as a "low-cost and long-life asset."The Phase 2 expansion project...Read More
Detour Lake mine, a large-scale open pit mine in northeastern Ontario. (Image courtesy of Detour Gold) Kirkland Lake Gold (TSX:KL, NYSE:KL) announced on Wednesday results for the first quarter of 2020 with strong year-over-year growth in net earnings and record levels of gold sales.The company reported production of 330,864 ounces, a 43% increase from 231,879 ounces in Q1 2029 and 18% higher than...Read More
At Torex Gold's El Limon Guajes mine in Mexico. Image from Torex. A "wild swing" in the Mexican peso weighed on Torex Gold's (TSE: TXG) first quarter, despite solid production of 108,537 ounces of gold at the company's El Limon Guajes mining complex in Guerrero state.In a release, Torex president and CEO Fred Stanford noted that accounting changes in the treatment of stockpiled ore and the depre...Read More
File image. Gold slipped further on Wednesday as economies across the world try to return to normalcy after a long period of lockdown, drawing investors towards riskier assets - even as the number of covid-19 cases continues to spike.A stronger US dollar and expectations that gold supply will grow once bullion refineries resume operations also exerted downward pressure on the precious metal's pri...Read More
China returns from the Labour Day break today, while US president Donald Trump tweeted it was "exciting to see our country starting to open up again!"The S&P 500 closed up 0.9%, the FTSE 100 rose 1.66% and commodity prices closed higher on the London Metal Exchange, where copper was up more than 0.6%.Among the mining majors, diversified Rio Tinto (LSE: RIO) and copper major Freeport-McMoRan (N...Read More
In a note published on Wednesday, Gavin Thompson, vice chair of Asia-Pacific at Wood Mackenzie, said China's exports, which accounted for 17% of the country's GDP in 2019, were being hit hard by theRead More
Share this articleTORONTO - Barrick Gold Corp. has withdrawn production guidance for its Porgera gold mine in Papua New Guinea after suspending operations amid a dispute with the national government over an extension of its expired mining permit.The company now expects its 2020 overall gold production to be between 4.6 and 5.0 million ounces, about 200,000 ounces lower than its previous estimate...Read More
Share this articleTORONTO - Barrick Gold Corp. says it earned US$400 million in its first quarter, up from US$111 million in the same quarter a year earlier.The gold miner, which keeps its books in U.S. dollars, says the profit amounted to 22 cents per share compared with six cents per share in the first quarter of 2019.On an adjusted basis, Barrick says it earned US$285 million or 16 cents per s...Read More
Check out this headline ...According to Duke professor Campbell Harvey, a coronavirus vaccine will end the U.S. downturn and the positive yield curve is an upbeat sign.Now I'm not an economics expert. And my knowledge of economics is significantly inferior to that of Professor Harvey, but I just don't see it.Even if we do get a vaccine by the end of the year, how does that make up for the increa...Read More
"Gordon Moore called it better than anyone else, and he's going to make you very, very rich."Normally, the gruff voice behind such a statement would float over to me from the desk next to me.But, things aren't too normal these days, and Christian DeHaemer's excited tone was carried over from his home office via webcam.And whenever my pre-COVID cubicle cellmate here at the office starts off like th...Read More
Brixton Metals (TSXV: BBB; US-OTC: BBBXF) has announced bonanza-grade silver assays from its wholly-owned Langis silver-cobalt project, 500 km north of Toronto in the Cobalt Camp area of eastern Ontario.Highlights included drill hole 20-83, which intersected 5 metres grading 1,293.34 grams silver per tonne from 11 metres downhole. The hole also contained a 2-metre core of 3,205 grams silver per to...Read More
Russia is questioning a U.S.-proposed global legal framework for mining on the Moon, saying the document would have to be examined thoroughly to make sure it complies with international laws before it is officially proposed.The draft agreement, called the Artemis Accords, would be the latest effort to attract allies to the U.S. National Space Agency's (NASA) plan to place humans and space stations...Read More
Rio Tinto's (NYSE: RIO; LSE: RIO) top investors are set to face off at the company's upcoming annual meeting, with only some of them in favour of pushing the miner to extend the range of its targets to reduce greenhouse gas emissions.The world's second-largest mining company recently committed to spend US$1 billion over the next five years to reduce its carbon footprint and have "net zero" emissio...Read More
GoldMining (TSX: GOLD; US-OTC: GLDLF) has released a pit-constrained maiden resource estimate for the Yarumalito project, 75 km southwest of Medellin, Colombia, with total inferred resources of 66.3 million tonnes grading 0.7 gram gold-equivalent per tonne for a total of 1.5 million gold-equivalent ounces.Notably, this statement includes 9.1 million tonnes at 0.66 gram gold-equivalent per tonne of...Read More
Publisher's Note: I had the honor once again of getting access to former U.S. Energy Secretary Spencer Abraham. This comes in the wake of the Nuclear Fuel Working Group's report to President Trump that included, among many other things, direct purchases from U.S. uranium producers to create a National Uranium Reserve. Currently, the U.S. produces zero uranium. So today, right now, is the ground fl...Read More
By: Ira EpsteinGold's action is not bad! You can see the short-term daily chart show the downtrend in the short-term, to break out of the pattern, gold would need to get over $1737:Read More
There will be a sell off if gold and silver fall today. Crude oil is bullish. There will be renewed short term hot money in crude oil (long positions) if crude oil rises till Thursday. Gold is somehow managing to float over $1700. Corrections up to $1650 will be a part of the bullish trend. Short term bearish trend will be there only if gold falls below $1650. Day traders and jobbers need to rem...Read More
The company also reported that is on track to meet its full-year production guidance of between 80,000 ounces and 85,000 ounces of gold.Read full newsRead More