The COVID-19 pandemic is wreaking havoc on the economy. Very few industries are able to weather the storm. Even gold stocks aren’t immune, which has investors perplexed. Despite significant volatility, however, the price of gold is flat over the past month. In comparison, the iShares S&P/TSX Global Gold Index ETF (TSX:XGD) has lost approximately 8% of its value. Although much better...Read More
How cheap is silver?Well, if you’re measuring it against gold, silver has never been this cheap. The gold/silver ratio recently exploded past 120. Theoretically, that means you could buy 120 ounces of silver for one ounce of gold. An average gold/silver ratio is about 70, and it has been as low as 15.120 is unheard of. This has never happened in all of human history.If silver prices rise, I...Read More
Image courtesy of Seabridge Gold Seabridge Gold (TSX: SEA)(NYSE: SA) posted a net loss of $11.6 million ($0.19 per share) in 2019 compared to a loss of $19.9 million ($0.34 per share) in the previous year, the company stated in its year-end financial release on Friday.During 2019, Seabridge invested $30 million in mineral interests, primarily at its KSM project, compared to $37 million in 2018. T...Read More
Open pit at Constancia. Photo by Hudbay Minerals. The collapse of the copper price and the containment measures taken for the coronavirus pandemic are posing a significant risk to global copper mine supply and project development, Nick Pickens, research director at Wood Mackenzie said in a note this week.Day-by-day, mining companies are announcing revised plans to comply with new restrictions. "F...Read More
Natalka gold mine (Image: Polyus.) Polyus announced that, in cooperation with the Far East Development Fund ("FEDF"), it will co-found a fund to finance activities aimed at preventing the spread of covid-19 in the Russian Far East. The size of the fund is expected to reach RUB 1 billion (about $12 million) reflecting donations from different parties.FEDF and Polyus will donate a total...Read More
Eric Sprott is renowned for his investments in the Canadian gold junior market. Image from archives. Orefinders Resources (TSXV: ORX) has closed the flow-through portion of its previously announced private placement for aggregate proceeds of approximately C$619,000. Upon closing, the company issued about 8.84 million units at a price of C$0.07 per unit, where each unit consists of one common shar...Read More
Image source: Caterpillar Inc. Caterpillar (NYSE: CAT) announced this week that the continued spread of covid-19 is starting to impact its supply chain. Caterpillar said it is continuing to run the majority of its US domestic operations and plans to continue operations in other parts of the world but is temporarily suspending operations at some facilities in affected areas. In February, Caterpill...Read More
First up, the slump in the Aussie dollar from last (calendar) year's average of US69c to below 60c has softened the blow of mineral commodity price falls (gold is a reserve asset and is doing its ownRead More
The company, which recently had to ensure the market it had no ticking debt time bomb lurking in its accounts, said the decision was made to maximise its liquidity in the uncertain age of COVID-19. The dividend pause was considered a prudent measure, and follows other companies in the mining contracting space including Perenti Global, Downer EDI, Lycopodium and Austin Engineering. ...Read More
Shares in the gold miner lost 15% Thursday after it deferred the payment of its interim dividend and withdrew full-year guidance due to the impacts of the outbreak.Read More
The demand for precious metals has hit fever pitch amid economic uncertainty and price volatility as millions around the world awaken the gold bug within.But there's one big problem: delivery.Social distancing, business closures, government lockdowns, and grounded airplanes are significantly disrupting gold's global supply routes. And it has resulted in long shipping delays, low inventories, canc...Read More
Trevali Mining (TSX: TV; US-OTC: TREVF) has temporarily suspended operations at its Caribou mine near Bathurst, New Brunswick.The company noted that the global zinc market has deteriorated and that the situation has been exacerbated by the outbreak of COVID-19.Market conditions, along with high concentrate treatment charges (TCs), make the mine uneconomic, the company said, adding that it is not o...Read More
Steppe Gold (TSX: STGO) is on track to produce 60,000 oz. gold this year at cash costs of US$500 per oz. from its heap leach mine in Mongolia, after starting ore processing on March 25.The junior has mined, crushed and stacked 533,000 tonnes of mineralized material at a grade of 2 grams gold per tonne on its leach pad at the mine, 660 km east of Ulaanbaatar.Steppe Gold is completing a feasibility...Read More
Gold-buyers have a problem...Supplies are drying up. For one thing, mining operations, like many other businesses, are closing due to the Coronavirus.You simply can't have all those people huddled together inside a mine in this day and age.So, South Africa said that it would shut down all but a few necessary mines for at least three weeks. Canadian mines in major jurisdictions like Northern Queb...Read More
Publisher's Note: We've been cranking out the content for you during this pandemic. Infection rates, deaths, markets... and governments' response to it are still changing in real time. All members of our paid services have been receiving briefs like these from our editors.I did one for you last week that you can find here. And because developments are happening so rapidly, I thought it best to sen...Read More
In this interview, professional mining investor David Erfle, the Junior Miner Junky, discusses the dramatic action in the general ...Read More
"Talisker Expands Land Position at Bralorne Gold Project and Appoints Vice President, Exploration and Resource Development https://t.co/once60NafT #Gold $TSK"Read full newsRead More
Keith Weiner, Monetary MetalsHeadline's gone wild today. For example, one public gold company CEO tweeted:"Today, some banks failed to deliver physical in the COMEX bar EFP. As a result, these banks suffered large losses...There remains a big shortage in physical in the COMEX denomination. So, rumors are, the COMEX will announce a force majeure..."Ignoring his sloppy understanding of the market...Read More
There is an old saying in Hindi "Jab tak hai sona roona kaabhi nahi roona". This is means that if you and your family own lots and lots physical gold (sona), they will never face any financial hardship in life. Forget the dash for cash. It is now the dash for physical gold. It is the dash for physical silver. You cannot buy gold. You can buy physical silver. Indians can buy silver July futures....Read More
BNN Bloomberg speaks to Peter Grosskopf, CEO of Sprott about gold mining M and A and why he thinks we're seeing the beginning of a wave of deal-making. He also thinks gold is on its way higher and investors should own gold right now.Read full newsRead More