"You can't run from them, you can't cheat them, you can't sway them with excuses. If you owe them money and you don't want to crumble yourself, you pay it back." -- Tywin LannisterThe head of the Federal Reserve, Jerome Powell, was on 60 Minutes on Sunday. He was interviewed by the always solid Scott Pelley. After the usual blather about washing hands and opening the economy, there was this gem:...Read More
Tianqi Lithium, China's top producer of the battery metal, says its controlling investor has put a sixth of its holding up for sale.The move, the Shenzhen-listed lithium miner said on May 18, seeks to raise much-needed cash to pay back debt the company racked up in an ambitious expansion overseas during the past two years.Chengdu Tianqi Industry Group, which holds a 36.04% stake in Tianqi Lithium,...Read More
This episode features the Q&A portion of Cameco's Q1 conference call that took place on May 1, 2020. Cameco president and CEO Tim Gitzel and vice-president and chief financial officer Grant Isaac discuss the impact of the coronavirus on uranium prices, as well as the difficulty the company has in obtaining an accurate uranium spot price, M&A and its ongoing tax dispute with the Canadian Revenue Ag...Read More
With restrictions on mining due to the coronavirus pandemic starting to ease, Newmont (TSX: NGT; NYSE: NEM) is back on track with all but one of its mines - Musselwhite in northern Ontario - slated to resume full operations in the coming weeks.Five of the gold miner's operations had been suspended because of coronavirus restrictions - four in March, including Yanacocha in Peru, Cerro Negro in Arge...Read More
Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereThe distribution centre had been closed on March 24 as Vale said at the time it was unable to secure the minimum resources to safely operate the terminal amid the COVID-1...Read More
El-Raghy said he had "all the confidence" in Jim Rutherford, who was named as his intended successor in December, to guide the company to greater success.Read More
While the television and movie streaming wars enter a new phase with a fight over subscription dollars, a whole new type of streaming war is firing up that will dwarf what we've seen so far.Investors made a fortune off of the first one. Netflix IPO investors have pulled in up to 37,000%. Buying at lows in the early 2000s could push that figure to over 70,000%.Even someone who bought Netflix shares...Read More
Stocks were on a tear in April, almost clawing back everything they lost in March.Much of that rally has been pinned on the hopes that lockdowns would be over and the coronavirus would be sorted in short order.But the more we hear from medical experts and more fundamentally, from the rising numbers ofRead full newsRead More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. After some impressive weeks where it outperformed both US markets and precious metals, the Index endured a strong pullback of 45.1 points or 5% to 840.14 last week.MACD plunged 8.9 points to -7.3. RSI slid 10.39 points or 19% to 45.4.Support is at 820 (lower Bollinger) and 809. Resistance...Read More
By: Ira EpsteinGold above the monthly Bollinger band, it only stays above this band only 5% of the time. The weekly gold chart, this is the best gold price close we have had in years! Up $42 1/2 for the week..Read More
Strengths? The best performing precious metal was silver, up 7.30 percent. Gold had a strong week and held above $1,700 an ounce. Bullion rose the most in a week on Wednesday after Fed Chairman Jerome Powell said that the U.S. economy is facing unprecedented downside risks that could do lasting damage. Powell pushed legislators to take more action to support the economy. The poss...Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More
JAKARTA - As Indonesia ramps up its mining sector to feed the world's hunger for zero-emission vehicles, it is faced with a problem: what to do with all the waste. Now, companies building the nation's first factories to produce the elements that power electric vehicles are seeking permission to dump billions of tons of potentially [...]Read full newsRead More
Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report mine construction activities at its PureGold Red Lake Mine in Ontario are on schedule for first gold pour before the end of the year.Work to date has proven we have a clear and precise understanding of theRead full newsRead More
The number of confirmed cases globally has grown to more than 4.7 million and there have been almost 315,000 deaths, according to Johns Hopkins University.US president Donald Trump criticised China yesterday for its "tiny" contribution to bodies including the World Health Organisation.The spot gold price shot above US$1,750 an ounce earlier and was worth almost $1,746/oz at the time of writing.Mea...Read More
(Image courtesy of Rio Tinto.) The mining industry is deeply impactedby the covid-19 pandemic, and the situation continues to evolve as the virusspreads throughout the globe. In its latest report on the coronavirus impact on the iron ore market, Fitch Solutions has revised down most of its 2020 mining and metals production and consumption forecasts and warns it will keep adjusting estimates in t...Read More
Sagebrush at the South zone, Red Hill property. Credit: NuLegacy Gold. NuLegacy Gold (TSXV: NUG) has arranged a non-brokered private placement of up to 75 million units at a price of C$0.075 per unit to raise gross proceeds of C$5.62 million.Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant exercisable for one common s...Read More
Image courtesy of Silvercorp MetalsSilvercorp Metals (TSX: SVM) and Guyana Goldfields (TSX: GUY) have agreed to amend the terms of their merger arrangement, which would see Silvercorp making a significantly higher offer than the previously announced C$105 million deal.The parties came to a new agreement following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party t...Read More
Image from BHP. BHP Petroleum has formed an alliance with Ense??a por Mexico (EPM) and the Ministry of Education of the state government of Tamaulipas (SET), aimed at improving education for the children in Tamaulipas by providing high-quality training to local teachers.In addition to providing quality education, the alliance aims to share innovative practices and academic strategies, as well as...Read More
Eric Sprott is renowned for his investments in the Canadian gold junior market. File Image. Discovery Metals (TSXV: DSV) on Monday arranged a non-brokered private placement to raise up to C$25 million through the issuance of up to 45.5 million units at a price of C$0.55 per unit. Each unit comprises one common share of Discovery Metals and one half of one common share purchase warrant, with each...Read More