In this week's edition of Canadian Insider Insights, we make the bearish case for stocks this summer based on insider sentiment. Meanwhile, get the take on the markets from a former Trump insider in our broadcast of the week. Finally, we highlight recent CEO buying in the oil patch. You can read our weekly newsletter here without registration.Read More
Osisko Mining Inc. (OSK:TSX) has announced the discovery of a new gold-bearing zone at its Windfall Lake project located in the Abitibi greenstone belt of James Bay, Qu?(C)bec. The new zone is about 350 metres north of the main zone.Four of the nine holes drilled at the new discovery contained visible gold. Notable drill results include 393 g/t gold over 2.2 metres, 31 g/t gold over 6.1 metres and...Read More
Morocco's leading mining firm Managem said on Tuesday it had retrieved the gold cargo that was seized by Sudanese authorities earlier this month.Sudanese Rapid Support Forces seized 241 kg of gold from a plane that landed in Khartoum on May 8 in an investigation into possible smuggling.The cargo is part of a regular deliveries and the company has completed all the administrative formalities in acc...Read More
Tanzania will no longer allow Acacia Mining Plc to manage its mines in the country and will only work with the company's parent, Barrick Gold Corp., to resolve the two-year impasse that has stymied operations, a government spokesman said."We will no longer work with Acacia," Hassan Abbasi said Tuesday by phone. "Under no circumstances can Acacia be a party to the agreements, or have any role in th...Read More
China is seeking to lower domestic coal prices to aid power producers, and has proposed that miners bring the benchmark grade to below 600 yuan ($87) a ton, according to people with knowledge of the matter.The National Development & Reform Commission made the proposal to coal producers after six major utilities sought the government's help to reduce their raw material costs in order to deliver a c...Read More
An owner of Uganda's only tungsten mine is suing the International Tin Association for defamation, saying the certifier wrongly accused it of trading in conflict minerals, court documents seen by Reuters show.The association's International Tin Supply Chain Initiative (ITSCI) programme, used by companies such as Apple, was introduced after the 2008 financial crisis to certify minerals in response...Read More
Mosaic Company's unit said on Tuesday it resumed mining operations at its Catalao mine in Brazil, following suspension of production in April.The unit, Mosaic Fertilizantes, had stopped production at its Tapira and Catalao phosphate mines after failing to obtain a deadline extension for providing stability certification for three of its tailings dams.Mining regulations in Brazil have been affected...Read More
Tanzania intends to collect 470.9 billion shillings ($205.5 million) from minerals in 2019-20, compared with a projected income of 310.6 billion shillings in the fiscal year ending June 30.The East African nation plans to boost production and exports, open new mineral trading centers, curb smuggling and ensure closer supervision of the industry, Mining Minister Doto Biteko told lawmakers Monday. B...Read More
Nasdaq Commodities will introduce a new trading system for its members where price quotes will be provided on request, the exchange said in a statement on Tuesday.Called Request for Quote Trading System or RFQ, the system will go live from June 10, subject to successful testing and regulatory approval."The new RFQ Trading System will introduce a new way of conducting trading on a private and exclu...Read More
Brazil mining giant Vale (NYSE: VALE) said Tuesday the risk of a new dam break as a consequence of an unstable embankment at its nearby Gongo Soco open pit, in the southeastern state of Minas Gerais, had decreased.The miner and emergency services had warned that a section of the now defunct mine had an estimated 10% to 15% chance of disintegrating. If that happened, Vale had said, it would ruptu...Read More
Portofino Resources (TSXV:POR) made public this week initial sampling results from its Yergo lithium brine project, located at the Aparejos salar in the province of Catamarca, northwestern Argentina.In a press release, Portofino said that the exploration program consisted of surface and near-surface brine sampling and geological mapping. "Hand augers were utilized to obtain the brine samples from...Read More
The government of New South Wales in southeastern Australia issued a communiqu?(C) stating that the state's Independent Planning Commission found that Hume Coal needs to address certain environmental and social issues before receiving approval for the construction of an underground mine.In detail, the subsidiary of South Korea's Posco is seeking planning approval to build and operate a large under...Read More
It's nice to see the Sixty North Gold Mining Ltd. (CNSX:SXTY) share price up 20% in a week. But that's small comfort...Read full newsRead More
Shareholders of both precious metals miner Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) and struggling rival Lonmin (LON:LMI) approved on Tuesday the planned merger of the companies, effectively creating the world's largest platinum producer and the second-biggest palladium miner.Sibanye-Stillwater said that 87% of its shareholders backed the all-share offer, which it revised down in April, valuing t...Read More
Canada's Barrick Gold (TSX:ABX)(NYSE:GOLD), the world's second largest producer of the precious metal, said it was considering a $1 billion expansion of its Pueblo Viejo mine in the Dominican Republic in a 60-40 joint venture with Newmont Goldcorp (NYSE: NEM)(TSX: NGT).Having recommitted Barrick to its Latin American portfolio earlier this year, president and CEO Mark Bristow said the company...Read More
After leaving behind a distinguished early athletics background, notably as a successful coach, Dewhurst has built a four-decades business career, about half of which has been lived outside his nativeRead More
Hudbay Minerals (TSX:HBM)(NYSE:HBM) stock had been on a tear. From November to April, shares doubled in value.After reporting earnings on May 6, however, the stock plunged around 30%.What happened to the market’s optimism for Hudbay stock? Did the dip lead to a great buying opportunity? Let’s find out.Understand the riseBefore we pivot to the latest quarterly results that tanked the st...Read More
Gold has come off the boil, despite fears of a trade war between the U.S. and China emerging. The yellow metal has fallen by roughly 5% since hitting a one-year high of over US$1,343 an ounce to be trading at US$1,278 per ounce. This has caused gold-mining stocks to soften, creating an opportunity for investors to acquire quality junior miners with considerable potential upside.High-quality, large...Read More
Nutrien (TSX:NTR)(NYSE:NTR) just raised its dividend for the second time in the past six months, and investors are wondering if this is a signal to buy the stock.Investor bonusNutrien increased the dividend at the beginning of the year from US$0.40 per share to US$0.43, supported by strong 2018 results and a positive outlook for 2019. The board just raised the payout again to US$0.45 per share, re...Read More
A short but tumultuous trade spat appeared to conclude in May as Canada lifted its retaliatory tariffs on the United States. The U.S. followed suit, lifting its penalties on steel and aluminum from Canada and Mexico. Both countries said that they would not accept a deal that called for fixed quotas, though the U.S. reserves the right to request consultations before imposing duties at the same rate...Read More