Today is Tuesday, March 24, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of HollyFrontier Corporation (NYSE: HFC), Bonanza Creek Energy (NYSE: BCEI), and MRC Global (NYSE: MRC).HollyFrontier Corporation (NYSE: HFC)HollyFrontier Corporation (NYSE: HFC) is a $3.129 billion company today with a one-year return of -63.13%. Let's look at its price-to-earning...Read More
Radius Gold (TSXV: RDU) has signed an option agreement to acquire a 100% interest in Plata Verde, a 3-sq.-km property north of its flagship Amalia gold-silver project in the state of Chihuahua, Mexico.Plata Verde is located on the site of a historic and undocumented underground mining operation from the 1800s that Radius Gold discovered in January 2020. The project is east of the historic Batopila...Read More
Barrick Gold (TSX:ABX)(NYSE:GOLD) stock got clobbered a good one on the “everything sell-off” suffered this month. Not only did equities tank, but bond funds and gold stocks were also ditched to the curb, as investors rushed to get into cash.Under a normal market environment, gold and bonds would pop on such a market meltdown. But we’re not in a “normal” market right...Read More
This market crash caused by the coronavirus pandemic is vastly distinct from other bear markets in history. It has hammered almost all the major financial markets globally with still no end in sight. It isn’t just the top TSX stocks that have been affected, but defensive ones like non-cyclical and gold were also weak during the last month. Gold miner stocks, which were looking notably strong...Read More
GoGold Resources' (TSX: GGD) most recent exploration results include near-surface, high-grade silver and gold intersections around historical underground workings from the Los Ricos South project in Mexico.The Main area returned 18.8 metres of 255 g/t silver-equivalent starting at 3 metres, 19.5 metres of 199 g/t silver-equivalent starting at 4.5 metres and 26.4 metres of 203 g/t silver-equivalen...Read More
Nicaragua colonial city. (Adobe Stock) Mako Mining has released the results of six holes drilled to test the Bayacun zone at the Las Conchitas area within the San Albino project in Nicaragua, which intercepted high-grade gold and silver mineralization at shallow depths.Highlights include 1.6 metres of 84.64 g/t gold and 80.2 g/t silver at 80 metres from surface as well as 3.9 metres of 25.78 g/t...Read More
The Perron-East gold prospects are situated in the direct vicinity of Amex's Perron property, pictured here. (Image courtesy of Amex Exploration). Drilling at Amex Exploration's Perron property in Quebec returned near-surface gold intercepts from the Gratien and Grey Cat zones in the western section of the 45-sq.-km project.Grey Cat intercepts include 39 metres of 1.22 g/t gold at a depth of 80...Read More
Chuquicamata mine. File image. On a global scale, work is grinding to a halt and operations at mines are being temporarily suspended as majors and minors move to enact measures to protect against the spread of covid-19. With governments from Africa to Latin America issuing lockdown orders, unprecedented disruptions to operations and supply chains are threatening the outlook for industrial and pre...Read More
Glacier Resource InnovationGroup (GRIG) and The Northern Miner have entered an agreement with CPM GroupLLC that will see CPM Group's precious metals, other metals, and commoditiesresearch reports available via The Northern Miner's online platform.The program will begin with CPM Group's annual Gold Yearbook, Silver Yearbook, and Platinum Group Metals Yearbook. These reports have been published an...Read More
The Yukon-focused company has signed an underwriting agreement with a syndicate led by Cormark Securities and Cantor Fitzgerald Canada to sell the shares.The company, which is awaiting a water permit for its Keno Hill project, has also given the underwriters an overallotment option for 30 days following closure that could take the total raised to $8.6 million.Alexco said it would use the proceeds...Read More
The lockdown starts at midnight Thursday, but businesses essential for the maintenance of power generation are exempt.South32 said it was working with government to determine the impact of the exemption on its South African Energy Coal and South African Aluminium divisions, given they play a role in Eskom's generation network.The company has started planning for its South African Manganese busines...Read More
"The underlying mining and cement industries remain sound but given the day-to-day development in markets around the world, we are currently unable to assess the extent of the impact," the company said."The activity level for the group at the beginning of 2020 was similar to 2019, and in addition we have booked three large mining orders with a combined value of around 2.4 billion Danish krone."We...Read More
The coronavirus, and the actions being taken by governments to stem its spread, can be found behind a remarkable split which has seen the South African government force the closure of its miningRead More
Are you looking at the oil sector the wrong way?I know it looks ugly from the outside.And I certainly wouldn't blame anyone for being cautious, especially when your eyes turn toward a chart of oil prices in 2020.I should warn you, it's about as bad as it gets:But just because the bears are in full control doesn't mean you can't turn low prices to your advantage. No matter how low oil goes from her...Read More
In November, Moody's Investors Service forecast G-20 economies in 2020 would grow by 2.6%, but now estimates real GDP will contract by 0.5%, followed by a pick-up to 3.2% in 2021.The ratings agency projects "cumulative contraction" over the first and second quarters of 2020 of 5.4% in Germany, 4.5% in Italy, 4.3% in the U.S., 3.9% in the U.K. and 3.5% in France."Although supportive fiscal and mone...Read More
Chile's copper miner Codelco may not regain its position as the world's top producer of the red metal this year, as delays in upgrades and expansion projects caused by measures to stop the spread of the coronavirus add to the impact of low prices and lack of funding.The miner, which hands all its revenue over to the state, was in the midst of implementing a US$40 billion, 10-year modernization of...Read More
The gold price rallied again in spectacular fashion on Tuesday, as panicked investors scrambled for hard assets on the back of COVID-19 closures of mines and refineries and unprecedented monetary action by the U.S. central bank.On the Comex market in New York, gold for delivery in April, the most active contract, closed the session at US$1,660 per oz., up US$93 compared to Monday's close. Earlier...Read More
Unlike many other mines in Canada and around the world that have been put on care and maintenance in the last week because of the global COVID-19 pandemic, De Beers' (51%-owned) and Mountain Province Diamonds' (TSX: MPVD; US-OTC: MPVD) (49%-owned) Gahcho Ku?(C) mine in the Northwest Territories is so far continuing to operate. However, Mountain Province has been forced to indefinitely postpone dia...Read More
Capitalism and the stock market are now broken.That's great news for you. Things are now happening in the market that haven't happened since World War II - or ever. And it's at moments of extreme dislocations like this when big money is made (and lost).Some of what we've been writing to you about for years is now playing out in front of your eyes. Trillions and trillions of dollars are now bein...Read More
Stewart Thomson, Graceland Updates 1. I said yesterday morning that amidst all the Corona War mayhem, a move over $1550 for gold would be incredibly positive.2. Please click here now. Double-click to enlarge this spectacular gold chart. $1550 is now support!3. Please click here now. In what is arguably the most horrific act in the history of the United States, and ce...Read More