The world's mines will produce 3,368 tonnes of gold this year, down 4.6% from 2019 and the lowest in 5 years, but high bullion prices will help to push up output by 8.8% to a record 3,664 tonnes in 2021, consultancy Metals Focus said on Wednesday.Read full newsRead More
The world's mines will produce 3,368 tonnes of gold this year, down 4.6% from 2019 and the lowest in 5 years, but high bullion prices will help to push up output by 8.8% to a record 3,664 tonnes in 2021, consultancy Metals Focus said on Wednesday.Read full newsRead More
Like a lot of other outdoor pursuits that allow practitioners to socially distance,prospecting has taken off during the pandemic.Read full newsRead More
Some experts believe we may have hitRead full newsRead More
There were similar gains yesterday for gold miners spreading their wings on new bourses.Australian gold major Newcrest Mining closed up 2.3% on its second day of trade in Toronto (TSX: NCM).Likewise, Canada-based producer Yamana Gold closed up 2.1% on its second day of trade in London (LSE: AUY).Elsewhere, Zimbabwe is reportedly drumming up interest for its new stock exchange, the Victoria Falls S...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD) is moving ahead with plans to extend the life of its Hemlo gold mine in Ontario by transitioning the operation from open-pit mining to purely underground mining as a modernized 'tier two' asset.Mining of the Williams pit is expected to wind down at the end of the month. Barrick has a transition plan in place to transfer most of the pit employees to Barminco, the...Read More
Despite a more tempered performance from precious metals during the third quarter of 2020, gold and silver prices still demonstrated gains and outperformed the initial expectations of analysts at Haywood Research.During the quarter, gold prices averaged US$1,911 per oz., which was above the firm's forecasted gold price of US$1,800 per oz. and 11% higher than the second-quarter average of US$1,714...Read More
Kirkland Lake Gold (TSX:KL; NYSE: KL) reported third-quarter gold production of 339,584 oz., a 3% increase over the 329,770 oz. generated in the prior quarter. The Detour Lake and Fosterville mines led this output, producing 140,067 oz. gold and 161,489 oz. gold in the period, respectively.With 331,811 oz. of gold sales, at an average realized price of US$1,907 per oz., the producer closed out the...Read More
September saw high volatility across the markets for all asset classes. The stock market fell from record highs with gold correcting since reaching a record high in early August. The same trend followed silver followed although both precious metals picked up steam on the downside in September when faced with the potential for risk-off conditions in markets. Lower gold prices and silver prices are...Read More
Warren Buffett is likely the biggest role model for people when it comes to stock market investing. The Oracle of Omaha has become a billionaire through his success over a decades-long incredible career as a professional investor. To be the best, many would suggest investing like the best.Warren Buffett is famous for investing primarily in U.S. stocks. However, he has dabbled in a few companies ou...Read More
Warren Buffett has faced his fair share of critics this year after having mostly sat on his hands during the 2020 market crash. The man threw in the towel on the airlines at a loss, ditched his favourite bank stocks, and scooped up shares of top-tier gold miner Barrick Gold (TSX:ABX)(NYSE:GOLD) and grocers. Indeed, it seems as though Warren Buffett is erring on the side of caution amid this unprec...Read More
The company said quarterly gold revenue increased 57% to US$487 million and the cash flow generation allowed the company to become debt-free after fully repaying its revolving credit facility (RCF)Read More
Speaking on a webinar on Wednesday afternoon, WoodMac's global head of metals Simon Morris said while huge stimulus packages had buoyed the market following the COVID-19 pandemic, the pattern wasRead More
Share this articleTORONTO - TMAC Resources Inc. says the federal cabinet has ordered a national security review of the proposed sale of the Canadian gold miner to a Chinese company.Shandong Gold Mining Co. Ltd. announced a deal in May to buy TMAC, owner of the Hope Bay mining project in Nunavut, for $230 million.The friendly deal has received Chinese regulatory approvals and TMAC shareholders vote...Read More
Share this articleTORONTO - Barrick Gold Corp. says it produced 1.16 million ounces of gold and 103 million pounds of copper in the third quarter based on preliminary results.The production came as the company says preliminary third-quarter sales totalled 1.25 million ounces of gold and 116 million pounds of copper.The average market price for gold in the third quarter was US$1,909 per ounce, whil...Read More
Making money in biotech is pretty easy.It mostly boils down to following clinical trial data and monitoring buy and sell volumes that align with the release of those data.In other words, if a biotech company is getting ready to release data or announce the launch of a new trial and you see that stock start to pick up steam before that happens, you know something good is about to happen.Of course,...Read More
Months after shareholders of TMAC Resources (TSX: TMR) approved a takeover of the company by China's Shandong Gold Mining, the federal government has ordered a national security review of the transaction.The US$149-million, $1.75-per-share deal was announced in May, with more than 97% of shareholders voting in favour in June. The plan was also approved by the Ontario Superior Court of Justice in J...Read More
The board of directors of Argonaut Gold (TSX: AR) has approved construction of the company's wholly owned Magino gold project in Ontario, 40 km northeast of Wawa.With a two-year construction period anticipated for Magino starting in January 2021, Argonaut expects to pour first gold at the operation in 2023. Before the mine build can begin, the company needs to first file a closure plan and post an...Read More
The Covid-19 pandemic has choked off revenue for diamond producers and funding for diamond juniors for much of the year. But with the diamond trade slowly starting to reopen and buyers and sellers adjusting to life under the pandemic, some companies outside of the big two - De Beers and Alrosa - have proven to be resilient. Here's a look at seven small diamond producers and explorers that are sold...Read More
The U.S. dollar, as measured by an index tracking it versus six major currencies including the Euro, Yen and Canadian dollar, is down almost 10% from the highs in March to mid-October. The weakness is at least in part a response to record economic stimulus by the U.S. in the form of cash payments and also suppressed interest rates - the former reflected in the Federal Reserve's balance sheet, whic...Read More