Share this articleVANCOUVER - SSR Mining Inc. says more than 300 workers will be affected by its decision to suspend operations at the Seabee gold mine in northern Saskatchewan until April 30 due to the threat of COVID-19.Spokesman Michael McDonald says the mine employs about 360 staff on two shifts and they will continue to be paid during the shutdown.About 20 people from each shift will remai...Read More
Share this articleVANCOUVER - Fortuna Silver Mines Inc. says its San Jose silver and gold mine in southwestern Mexico is resuming operations today.In a brief report late Wednesday, it said an illegal blockade of roads in the municipality of San Jose del Progreso that prevented access to the mine has ended.Earlier this week, the Canadian company said a group of people led by the former mayor of S...Read More
Share this articleTORONTO - Centerra Gold Inc. is suspending open pit mining at its Oksut project in Turkey in an effort to slow the spread of COVID-19.The suspension of work at the project starting March 31 is for an initial period of two weeks.However, the gold miner says operations at its Kumtor mine in the Kyrgyz Republic and its Mount Milligan operation near Prince George, B.C., continue fo...Read More
Today is Thursday, March 26, 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 $1,656.05. It's up 2.75% from yesterday and up 25....Read More
Today is Thursday, March 26, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Renewable Energy Group (NASDAQ: REGI), Suncor Energy (NYSE: SU), and W&T Offshore (NYSE: WTI).Renewable Energy Group (NASDAQ: REGI)Renewable Energy Group (NASDAQ: REGI) is a $781.29 million company today with a one-year return of -10.13%. Let's look at its price-to-earnings (P/...Read More
Not even the Fed can save us now.As much as the gatekeepers of monetary policy will try, nothing they can do can stop the bleeding.Since this pandemic reminded the world that political pandering is no substitute for actual preparedness, the Fed has desperately tried to stave off a market collapse with unlimited quantitative easing.There's been the revitalization of the Term Asset-Backed Securities...Read More
As the science continues to evolve around the transmission of the deadly coronavirus, the 23,000 people who attended the Prospectors & Developers' Association of Canada (PDAC) convention in Toronto on March 1-4 can only watch and wait.PDAC confirmed the first case of infection on March 11, stating that an attendee had tested positive for the virus after returning to his home in Sudbury. The conven...Read More
Barrick Gold (TSE: ABX; NYSE: GOLD) has unveiled a 10-year gold production plan in which it aims to maintain production levels of approximately 5 million oz. gold per year between 2020 and 2029. The plan is based on its current operating asset portfolio, sustaining projects in progress, and implementing exploration and mineral resource management initiatives. It does not include additional asset o...Read More
On a global scale, work is grinding to a halt and operations at mines are being temporarily suspended as majors and minors move to enact measures to protect against the spread of COVID-19.With governments from Africa to Latin America issuing lockdown orders, disruptions to operations and supply chains are affecting the outlook for industrial and precious metals. Most of the majors have now announc...Read More
The coronavirus pandemic "has morphed into a credit crisis and economic recession," Bank of America (B of A) outlined in its World at a Glance report released Thursday, noting that "the current sudden stop of the real economy on a global scale is unprecedented and the risk is that this crisis may end up even worse than the 2008-09 crisis," making "the market very challenging to forecast."B of A fo...Read More
DynaCERT (TSX: DYA), a Toronto-based company, has developed a technology called HydraGEN that could significantly reduce emissions by improving the performance and fuel efficiency of diesel engines used in mining machinery and equipment.The HydraGEN technology is about the size of a suitcase for use in trucks, with larger models for use in more significant mining machinery and equipment, and the c...Read More
The following is an edited report from the World Gold Council, release on March 19, 2020. For the full report visit www.gold.org.Like most asset classes, gold is being affected by the unprecedented economic and financial market conditions in play around the globe. We believe that recent volatility in the gold price has been driven by massive liquidations across all assets, and likely magnified by...Read More
Let's talk a little bit about what is "essential" to function in our society during times of unrest...My grandma always told me: "Jimmy, all you need in life is food, clothes, and shelter." That sounds awfully quaint these days, but it is capital-T True.Call me old-fashioned, but I would start the "essential" debate with hospitals, pharmacies, and grocery stores. But after living through a few w...Read More
Under the leadership of CEO and geologist Chris Taylor, Great Bear Resources Ltd. (TSX-V: GBR) has become one of the biggest ...Read More
The success of the EU industrial strategy and the European Green Deal will depend on the EU's ability to achieve climate neutrality whilst maintaining its competitiveness (including growth, jobs, and technological leadership). Nuclear energy can contribute to making this a reality.Read full newsRead More
In recent days the Fed has made it plain that it is prepared TO BUY ANYTHING AND EVERYTHING to prevent imminent total collapse, and you don't have to join many dots to see that this will extend to BUYING STOCKS, and it's not that hard for them - all they have to do is enter a few keystrokes, add a few 0s and it's sorted - and as Gregory Mammarino repeatedly points out, the more debt they iss...Read More
Why is there such a huge gap between spot price and future price in gold/silver?1. Mines are closed or closing. There will be no new supplies.2. Global lockdown is preventing physical gold and silver to be transferred from one nation to another. 3. Lack of alternate safe investment avenue and availability of free money to fund managers and large corporates has resulted in shor...Read More
"Many #gold companies are taking action in the face of #COVID19 - read our list to see what explorers and producers are doing. https://t.co/f5YZXGQoNW #mining #investing #coronavirus"Read full newsRead More
Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developmentsRead full newsRead More
(Kitco News) - Prices for platinum group metals are bouncing higher Tuesday as the physical market is expected to become a lot tighter as South Africa prepares to shut down its mines in its effort to slow the spread of the coronavirus.Read full newsRead More