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
The pricing is at 1.5c per new share.Read More
Gold prices jumped to a seven-year high this morning following bleak economic data last week and grim second-quarter U.S. GDP forecasts.At last look, gold was sitting at $1,755 an ounce, but rising concerns over global inflation have positioned the yellow metal for a breakout that could take prices screaming higher.Bank of America is already expecting $3,000 gold. Others are predicting prices to t...Read More
In April, Longview Power filed for bankruptcy. The company's main asset is its 700 megawatt (MW) coal-fired power plant in West Virginia, which produces enough electricity to continuously power more than 500,000 homes.The company said the decision was taken "as a result of substantially lessened demand for electricity due to long term power-pricing pressure caused by cheap natural gas, an unseason...Read More
The S&P/TSX Venture Composite Index rose 3.32% to 508.99 and gold continued to make gains, rising US$39.30 per oz., or 2.26%, to close at US$1,742.20 per ounce.Abitibi Royalties saw its share price jump $1.01 to $22.00 with news of an updated resource estimate for their New Alger royalty. The company has a 1% net smelter return (NSR) royalty at the property, which is owned by Renforth Resources. T...Read More
As decisions about reopening businesses continued to vary from state to state in the U.S., the Dow Jones Industrial Average fell 2.73% to 23,685.42, while the S&P 500 dropped 2.31% to 2863.70. Meanwhile, gold maintained its lustre amid the COVID-19 pandemic as it continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%.Franco-Nevada continued to gain market v...Read More
After starting the May 11-15 trading week with some gains, the S&P/TSX Composite Index closed down 2.24% to 14,638.90. Spot gold continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%, and the S&P/TSX Global Gold Index advanced 4.86% to 370.32. The S&P/TSX Global Base Metals Index fell 3.57% to 75.88, while the S&P/TSX Global Mining Index increased 2.84% to...Read More
Last week I told you that M&A for visibility and liquidity's sake was a precursor to what I see as the next great discovery cycle. One born out of necessity.Gold has now surged to record highs in most currencies and has been rising beautifully alongside the dollar. A bull market I can trust.Whether it's rising tensions with China, dwindling reserves that need to be replaced now or later at much hi...Read 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
Gold jumped more than 1% on Friday to levels last seen in 2012, as renewed U.S.-China trade tensions added to concerns about a deep economic slump due to the coronavirus pandemic.Read full newsRead More
"Lack of new major gold deposits': Discovery numbers dive in the last decade'from @KitcoNewsNOW @annagolubova @SPGMarketIntel datahttps://t.co/O51uNwSe1x"Read full newsRead More
Australia-based Tempus Resources (ASX: TMR) has raised A$4 million (US$2.6 million) in a private placement to fund exploration work at its Blackdome-Elizabeth project in B.C., Canada and at its Zamora project in Ecuador.Sprott Asset Management and an Asia-based specialist natural resources fund participated in the financing, which issued a total of 26.17 million common shares at a price A15.3 ? pe...Read More
Canadian gold mining stocks have been one of the few industries to benefit from the coronavirus pandemic. This is because gold is the only asset that has performed strongly since the pandemic hit in mid-March 2020. The yellow metal, which is viewed as the ultimate store of value, has gained 15% since the start of 2020. This sees gold trading at around a stunning US$1,745 an ounce.The precious yell...Read More
Reality is beginning to set in. We are midway through earnings season and investors are getting a glimpse of the economic pain ahead. In fact, we may be on the verge of another crash that will pave the way for a new bear market. If investors thought the first quarter was rough on financials, wait until next quarterly results start to roll in. There is no way to accurately predict how long the econ...Read More
It can be hard to cut through the headline blur of the pandemic. Genuinely useful pronouncements are getting lost in a welter of hot takes. The investment world is no different. Furthermore, Canadians may have been wrong-footed by a market rally built on hope and little else. The appetite for risk has been inching back. However, gold stocks are still a strong buy for the casual investor eyeing the...Read More
The municipal government took water samples from Neutla's wells to be independently analyzed. (Image courtesy of the Comonfort Municipality). The Mining, Metallurgical, Siderurgical and Similar Workers Union of the Mexican Republic, known as Los Mineros, denounced this weekend that Minera Adularia Exploraci??n, a mining company linked to New York-based The Electrum Group, has been polluting the N...Read More
Fruta del Norte mining complex. (Image courtesy of Lundin Gold). Ecuador's Committee for Emergency Operations greenlighted the resumption of activities for the mining sector, 60% of which remained paralyzed since March 25, 2020, due to the covid-19 pandemic.Despite the state of emergency being extended until mid-June, the Committee gave the go-ahead following the approval of a series of guideline...Read More
Sculpture of bull and bear on seesaw in front of Fross and Fross Wealth Management. (Image by Whoisjohngalt, Wikimedia Commons). The University of Sussex Business School released an analysis stating that widespread market turmoil caused by the covid-19 pandemic means regulators have so much on their plates right now that large-scale manipulation of the markets remains below their radar.In the vie...Read More
We learned from Tom Revy, Managing Director of BlackEarth Minerals (ASX: BEM), that they are focused on fast tracking the high-grade, near-surface Maniry Graphite Project, located in the southern region of Madagascar. We learned from Mr. Revy that their current resource is about 20 million tons of material, grading from 6% to 7% total graphitic carbon (TGC). The property remains open to further di...Read More
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2020) - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) CEO of Moneta Porcupine Mines, Gary O'Connor, talks about the company's gold exploration in the Timmins Gold Camp.If you cannot view the video above, please visit:https://www.b-tv.comRead full newsRead More