AMS has three other contracts in Burkina Faso - at Sanbrado, Siou and Yaramoko - and it will continue to operate those contracts. The company had 19 of its workers killed and another 26 wounded when a convoy they were travelling in from Boungou came under attack. AMS has demobilised its workforce from Boungou via helicopter. According to Perenti it is doing "everything possible to e...Read More
Rick Perry wrapped up his final day as head of the Energy Department yesterday thanking his family, the American people, and the Trump administration for allowing him to serve the agency.Perry wrote in a tweet on Sunday, "Today I bid farewell to the Department of @ENERGY. It has been the honor and privilege of a lifetime to serve in the @realDonaldTrump Administration as your Secretary. Thank you...Read More
Aspiring precious metals developer Velocity Minerals (TSXV: VLC) recently tabled engineering study results and the latest drill assays from its 70%-owned Rozino gold deposit in southeastern Bulgaria.Rozino, the most advanced of Velocity's four Bulgarian gold projects, is advancing to the prefeasibility study (PFS) level.A 2018 preliminary economic assessment (PEA) modelled an open-pit operation wi...Read More
In the latest megadeal sweeping the gold sector, Zijin Mining Group is buying Continental Gold (TSX: CNL; US-OTC: CGOOF) for $1.4 billion in cash.The Chinese gold miner is on an acquisition spree. In early November, it said it would buy copper-gold assets in Serbia from Freeport McMoRan (NYSE: FCX) for up to US$390 million, and it bought Nevsun Resources for US$1.86 billion just over a year ago.Th...Read More
SilverCrest Metals (TSX: SIL; NYSE-AM: SILV) has found a high-grade zone outside the resource area at its Las Chispas project in Sonora, Mexico, 220 km northeast of Hermosillo.The discovery hole - 19-118 - returned 9 metres grading 44.3 grams gold per tonne and 4,551.3 grams silver per tonne for 7,873 equivalent grams silver tonne, starting from 304 metres downhole.Another hole, 19-123, cut 6 met...Read More
The S&P/TSX Composite Index rose 0.5% to close at 17,040.20. The S&P/TSX Global Mining Index gained 0.46% to 77, and the S&P/TSX Global Base Metals Index rose 0.34% to 102.58. The S&P/TSX Global Gold Index increased 1.12% to 243.66 and spot gold moved 0.2% higher, or US$2.90 per oz., to US$1,464 per ounce.Shares of Endeavour Mining jumped $1.42, or 5.93%, to $25.37 apiece. The company announced...Read More
The S&P/TSX Venture Composite Index gained 0.34% to 531.81. Spot gold finished at US$1,464 per oz., up 0.2%.Shares of New Pacific Metals jumped 36 ?, or 8.37%, to $4.66. The company recently announced interim financial results for the three months ended Sep. 30. Net income attributable to equity holders of the company was $1.29 million, or 1 ? per share, compared to a net loss of $752,583 or 1 ?...Read More
The Dow Jones Industrial Average rose 0.63% to 28,051.41 and the S&P 500 Index gained 0.99% to 3,140.90. Spot gold closed the trading week at US$1,464, up 0.2%.Nutrien shares gained US85 ? to US$47.72 on news that the company is increasing the number of common shares it may repurchase in a buyback program starting Dec. 2. The maximum number of shares to be repurchased increased to 42.16 million, r...Read More
The past month has provided a glimpse into the future.We got a 25 basis point rate cut from the Fed on October 30, 2019, the third such cut since late July.It's my opinion that the market - never satisfied with historically low interest rates or the complete about face from the Fed - will force the Fed into another rate cut sooner rather than later.When it happens isn't as important as why it will...Read More
Share this articleTORONTO - Centerra Gold Inc. says two workers are missing after a "significant rock movement" at its Kumtor mine in the Kyrgyz Republic.The company says the incident happened at the Lysii waste rock dump and that two employees working in the area did not report to the emergency gathering area.Toronto-based Centerra says it has halted open pit mining operations and the mine plan i...Read More
Share this articleTORONTO - A Chinese mining company has signed a friendly deal to buy Continental Gold Inc. for $1.4 billion.Zijin Mining Group Co. Ltd. has agreed to pay $5.50 per share in cash for the Toronto-based company which is developing the Buritica gold project in Colombia.Continental shares closed at $4.87 on the Toronto Stock Exchange on Friday.The Buritica project is expected to prod...Read More
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Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN extended its powerful ascent last week after just a slight pause the week prior. The Index shot up 15.99 points to carve out a brand new 2019-high at 1172.23 for a 1.4% gain.RSI rose 6.61 points to 79.89. MACD added 0.02 to 0.29. What's noteworthy is that our short-term moment...Read More