El Salvador mining camp. (Image courtesy of Codelco via Flickr) Codelco has received an environmental permit for a $1 billion expansion of its Salvador mine, the state-controlled copper company said on Friday.The Rajo Inca project will increase production at Salvador to 90,000 metric tonnes per year of copper, up around 30% from current levels.Reserves at the underground operation at Salvador ar...Read More
The West Kenya project has received about $55 million in exploration investment. (Image courtesy of Shanta Gold | Twitter.) Shanta Gold (LSE: SHG) released on Friday its final results for 2019, reporting revenue of $112.8 million, up from $103.8 million in 2018.The miner's focus remained on its flagship asset, the New Luika gold mine, in Southwest Tanzania, throughout the year, it said. The compa...Read More
Excavators dig rare earth on a field of Jiangxi Copper Corp's Sichuan branch in Chengdu, Sichuan Province of China. (Image by 62|Shutterstock) The impact of the coronavirus has been felt on a range of markets as well as the macroeconomic performance of the Chinese economy during early 2020. The rare earths industry has not been exempted from these factors, as many Chinese processing facilities...Read More
Palladium (Shutterstock Image) The gold price plunge on Friday hammered other precious metals as well, with palladium marking its worst performance since the 2008 financial crisis, down more than 10%.With stocks in free fall, investors usually turn to gold as a haven of last resort. On Friday, things got so bad that they had to cash in on the metal to cover losses in other markets, spurring its...Read More
The Amulsar gold project is located in the mountainous south of Armenia. The area is home to several endangered animal species. (Image courtesy of Lydian International) Lydian International made further progress in the proposed restart of its controversial Amulsar gold project this week, as the Administrative Court of Armenia has ruled in favor of the company and invalidated eight out of ten fin...Read More
Forrest bought 22.1 million shares on market between last Friday and yesterday. FMG shares peaked at $12.Read More
"We remain cautious if not outright bearish in the very near-term, expecting copper to trade down to US$5300/t, nickel down to $12,000/t, and iron ore down to $70/t," it said.Read More
Share this articleVANCOUVER - February 28- GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) has announced it is preparing and planning to submit an application for Phase 2 diamond drilling at its Golden Promise Gold Property, located within the central Newfoundland gold belt. The drilling is planned for 2020 at the Jaclyn Zone, specifically the Jaclyn Main Zone (JMZ) and along projected strike east of the...Read More
Share this articleOTTAWA - A human-rights lawsuit against a Canadian mining company can be heard in British Columbia, even though it involves events in Africa, the Supreme Court of Canada says.The high court ruled Friday against B.C.-based Nevsun Resources (TSX:NSU), which had argued the claim should not proceed because a Canadian court could not decide the legality of acts by foreign sta...Read More
Today is Friday, February 28, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,585.85. It's down -3.60% from yesterday and up...Read More
AbraPlata (TSX-V: ABRA) is focused on the Diablillos silver-gold property, located in the mining friendly province of Salta, Argentina, that holds 140 million silver-equivalent ounces or 1.7 million gold-equivalent ounces in indicated resource, with significant expansion potential. This is a very large advanced-stage project, with a robust initial open pit PEA, completed in 2018, and an ongoing dr...Read More
Today is Friday, February 28, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of DMC Global (NASDAQ: BOOM), Canadian Natural Resources (NYSE: CNQ), and Ovintiv (NYSE: OVV).DMC Global (NASDAQ: BOOM)DMC Global (NASDAQ: BOOM) is a $531.16 million company today with a one-year return of -25.07%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-v...Read More
Every major media and financial outlet has been blaming this week's market sell-off on growing coronavirus fears.Too bad that's mostly BS.Let's take a look at some headlines from Monday:"Dow Industrials Close 1000 Points Lower as Coronavirus Cases Mount" - Wall Street Journal"U.S. Stocks Plunge as Coronavirus Crisis Spreads" - The New York Times"Coronavirus Is Cratering the Stock Market. Why It Ca...Read More
Junior Atac Resources (TSXV: ATC) has unveiled an updated preliminary economic assessment for its Tiger deposit in the Yukon, envisioning a smaller, higher grade operation with better economics compared to a previous PEA completed in 2016.The new PEA outlines an open pit operation with a life of seven years (including one year of construction) and average annual production of 45,000 oz. gold. Tot...Read More
El Pe????n mine in Chile. (Image courtesy of Yamana Gold). GoldSpot Discoveries (TSXV: SPOT) issued a statement commending Yamana Gold (TSX: YRI; NYSE: AUY) for using machine learning technology to improve exploration targeting and contribute to meaningful increases in mineral resource inventory at its El Pe????n mine in northern Chile.In late 2018, Yamana partnered with GoldSpot to complete an e...Read More
The company, which has a current market value of about A$138 million, acquired APE Mobile for A$5.5 million in cash and shares this week.Read More
Last month, Congressional Budget Office Director Phillip Swagel appeared before the House Budget Committee and issued a dire warning.Swagel is an economist who attended Princeton and then Harvard. He's worked for the Federal Reserve Board of Governors, the International Monetary Fund, and the White House under George W. Bush.So he's a guy who's worth listening to. Especially when he's ringing alar...Read More
TriStar Gold Inc. is pleased to announce additional results from the drilling campaign at its Castelo de Sonhos gold project.Read full newsRead More
By: Carolyn BorodenGold has potential upside to 1709.41 in the futures (GC) as long as two support areas hold. There's initial support at the recent low near 1626, and a wide cluster of support at symmetry projections between 1614.80 and 1621.30.As long as price holds above one of these two zones, we can begin to look at buy triggers. If price breaks beneath there, we'll back off until furth...Read More
Gold should start another wave of rise. Silver will now behave like a precious metals and not an industrial metal. Even USA is preparing for corona virus outbreak. Lack of demand from global tourism industry should result in crude oil prices sliding. Next week will be a big week for bulls and bears of gold. If economic data releases wins then gold prices will correct more. If corona virus wins t...Read More