As global financial markets began to melt down in response to the coronavirus pandemic, SilverCrest Metals (TSX: SIL; NYSE-A: SILV) inked a $75 million bought-deal financing on Mar. 11 that was underwritten by a banking syndicate led by National Bank Financial (and including Eight Capital and Scotia Capital).The deal was terminated seven days later.National Bank Financial said it was terminating i...Read More
In early January 2020, gold prices were steadily escalating on the heels of strong investor confidence fueled by some of the largest mining M&A transactions in recent history, including Newmont's merger with Goldcorp (US$10 billion), and Kirkland Lake Gold's acquisition of Detour Gold (US$3.8 billion).Over the past 12 months, gold prices had risen from US$1299 per oz. in January 2019 to US$1476 in...Read More
Amid the current economic environment, unsexy stocks really are the place to be over the next few years. Investors will begin to understand the dangers of investing in companies that find ways to juice short-term growth expectations by engaging in potentially destructive long-term actions. One example of this is overpaying for acquisitions.Here are three companies that are as “unsexy”...Read More
Marikana has 31.2 Moz of 4E PGM mineral reserves and 160.8 Moz of 4E PGM mineral resources. (Image courtesy of Sibanye-Stillwater). Sibanye-Stillwater (JSE: SGL) (NYSE: SBGL) refuted allegations spread out on social media, which stated that there was a confirmed case of COVID-19 at its Marikana platinum group metal mine in the North West province of South Africa.In a media statement, the company...Read More
Newmont Goldcorp's Yanacocha mine in Peru. (Image by Euyasik, Wikimedia Commons). Peru's National Association of Mining, Petroleum and Energy -known in Spanish by its initials SNMPE- announced that most of its 60 member companies have evacuated 75% of their personnel from mining sites.The measure followed the declaration of a state of emergency in the South American country amidst the COVID-19 pa...Read More
Chidliak project. (Image courtesy of De Beers Canada). Kimberlite rock samples recovered at De Beers Canada's Chidliak project in Nunavut unveiled the composition of the North Atlantic craton-an ancient part of Earth's continental crust that stretches from Scotland to Labrador.The samples were retrieved by Peregrine Diamonds, a junior exploration company that was acquired by De Beers in 2018, and...Read More
Given the market volatility from the spread of COVID-19, the outlook for precious metals remains uncertain. Nevertheless, gold exploration and mine development remain important drivers of mining activity. Here are eight companies with exposure to gold and precious metals.Bear Creek MiningBear Creek Mining's Corani silver-lead-zinc project in southern Peru. Credit: Bear Creek Mining.Bear Creek Mini...Read More
GDX stock is now very overbought on almost every metric. Traders should look to short VanEck Vectors Gold Miners ETF on any strength.Read full newsRead More
The jobs will be offered as six-month contracts and cover a range of skills needed by BHP operations in the short term.Read full newsRead More
You don’t have to be a professional stock analyst to see that right now, there’s an opportunity for investors with cash on hand to take advantage of the current market. A stock market correction is already underway for many companies out there, providing the opportunity to make significant gains if you’re looking to make some long-term investments.One area in particular has inves...Read More
I have been firmly in the recession camp for several years. This was a very long expansion, especially for Canadians. We essentially skated through the financial crisis with our banks and housing largely intact. This made Canadians very confident in the fact that we would continue to coast through life, no matter our debt levels or our irresponsible spending. With a recession likely on the way, th...Read More
For long-term investors seeking income, extremely low bond yields have pushed many investors toward high-quality, dividend-paying stocks. In this article, I’m going to discuss two dividend-paying stocks that are set up with a royalty structure. In addition, I will explain why this is beneficial for such investors.Alaris RoyaltyIn the resource sector, various producers have access to capital...Read More
We spoke with Ted Ellwood, President, CEO and Director of Peloton Minerals Corporation (CSE: PMC), during PDAC 2020. Peloton is a gold exploration company, scratching the surface of Carlin trend type prospects in Nevada. Peloton has a strong team that is ramping up an aggressive drill program on several projects. Look for lots of great news from Peloton this summer. Peloton also is exploring a pro...Read More
Privately held Nordgold has taken a 19.9% stake in Cardinal Resources (TSX: CDV; ASX: CDV), which is advancing its Namdini gold project in Ghana.The Russian gold miner, whose non-executive chairman is billionaire Alexey Mordashov, recently confirmed the acquisition of 98.44 million shares of the junior at A$0.44 per share, including 81.04 million shares purchased from a subsidiary of Gold Fields a...Read More
The Dow Jones Industrial Average fell 17.30% (4,011.64 points) to 19,173.98 and the S&P 500 dropped 14.98%(4,061.1 points) to 2,304.92 during the Mar. 16-20 trading week. Spot gold fell US$31.10 per oz. to finish at US$1,498.80 per oz., a 2.03% decrease.Sandstorm Gold rose US64 ? to US$4.52. The company announced that it has withdrawn its 2020 guidance due to the COVID-19 pandemic. "Although Sands...Read More
The S&P/TSX Composite Index plunged 13.59% (1,864.5 points) to finish the March 16-20 trading week at 11,851.80. The S&P/TSX Global Mining Index fell 3.42% to 57.12, while the S&P/TSX Global Base Metals Index dropped 16.56% to 57.98. Spot gold finished at US$1,498.80 per oz., a US$31.10 per oz. drop or 2.03%. The S&P/TSX Global Gold Index rose 5.53% to 213.38.Kirkland Lake Gold climbed $4.81 to...Read More
The S&P/TSX Venture Composite Index plummeted 8.84% (34.58 points) to finish the week at 356.54. Spot gold finished the week at US$1,498.80 per oz., down US$31.10 per oz., or 2.03%.Shares of Skeena Resources rose 14 ? to 75 ?. The company recently announced a $20 million financing. The non-brokered private placement consisted of 17.14 million flow-through shares at a price of $1.55 per share. The...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 317,40535,48950,438154,761456,470522,604542,397 Change from Prior Reporting Period -18,885-1,270-3,626-28,187-54,782-50,698-59,678 Traders 18073785254268172 Small Speculators LongShortOpen Interest 51,32131,528573,925 -8,847133-59,545 non reportable posit...Read More
There will be position squaring and rebuilding for next week. Copper, crude oil, nickel and other industrial metals can rise as result. If silver falls below $9.50 or trades below $9.50, then it will imply that the corona virus has made Asia (except China) as its home ground. Economic data releases are useless at this point of time. Bank of England has cut its key interest rates to 0.10% in a se...Read More
There's been almost no place to hide for equity investors, with only one of the composite's 230 members in positive territory from last month's peak: grocer Metro Inc.Read full newsRead More