The South African government will soon debate whether to split up state power firm Eskom to make it financially viable, Public Enterprises Minister Pravin Gordhan said on Tuesday.Eskom is vital to the health of Africa's most industrialised economy as it supplies more than 90 percent of its power, but it is drowning in debt after a decade of steep financial decline."Should Eskom be unbundled into g...Read More
Nucor Corp handily beat fourth-quarter profit estimates, boosted by hefty tariffs on imported steel, and the company forecast first-quarter 2019 earnings to be stronger despite a fall in sheet prices and margins.Shares of the No.1 U.S. steel producer rose about 3 percent to $60.1 in morning trading on Tuesday, adding to the 14 percent gain so far this year. We posted record earnings per share and...Read More
Samarco Mineracao SA, the Brazilian mining venture that caused an environmental catastrophe in 2015, disclosed that it has been is in advanced debt restructuring talks just days after it's co-owner Vale SA suffered a similar dam rupture that has killed at least 65 people.The distressed joint venture owned by Vale and BHP Group Ltd. had reached a preliminary deal with creditors to restructure its d...Read More
Mongolia is working with overseas investigators to look into claims of corruption at its giant Oyu Tolgoi copper mine, the country's anti-graft body said on Tuesday, after the re-arrest of a former minister suspected of "abuse of power".Bayartsogt Sangajav was first arrested last April and released in June in a probe into 2009 negotiations over the development of the mine, then owned by Canada's I...Read More
Canada's M2 Cobalt Corporation said on Tuesday that its initial drilling indicates that there may be more cobalt in Uganda than previously thought."We are excited so far that in this short time we got really promising results in three target areas," Jennifer Hinton, the firm's director for East Africa operations, told Reuters.Any discoveries would add much-needed diversity in the supply of cobalt,...Read More
After publication of the INK Morning Report this morning, IMV (IMV) released an update on its DPX-Survivac Program following a routine meeting with the FDA.In the release the company reports:the FDA acknowledged the potential for accelerated approvals in advanced ovarian cancer based on objective response rate (ORR) according to RECIST 1.1 criteria with reported median duration of response (DOR)....Read More
Germany's TUEV SUED on Tuesday said two of its employees have been arrested in Brazil as authorities begin a criminal investigation in the wake of a devastating dam rupture in Brazil which has left over 300 people dead.Prosecutors in Brazil arrested three employees of Brazilian miner Vale SA and two contractors tasked with attesting to the safety of the Corrego do Feijao dam. TUEV SUED confirmed i...Read More
The world's largest miner, BHP, (ASX:BHP) is considering whether to appeal an Australian Federal Court's decision related to income derived from its Singapore-based marketing unit, which has left the company with an A$82 million ($59m) tax bill.In November, BHP won the case with the Australian Taxation Office (ATO) in an administrative court, but the Federal Court heard an appeal from the tax aut...Read More
Ontario-based Aura Resources (TSXV: AUU) announced it has entered into a definitive agreement with Vancouver-based Minaurum Gold (TSXV: MGG) and its Mexican subsidiary to acquire an interest in the East Taviche property located in Oaxaca, southeastern Mexico.To acquire an initial 80% interest in the project, Minaurum has to issue 100,000 common shares, reimburse all Taviche project concession fees...Read More
Precious gemstones miner Gemfields has chosen to pay ?5.8 million (about $7.8m) to community members residing near its Montepuez ruby mine in Mozambique, in a "no admission of liability" move that settles a claim of human rights abuses brought against it by locals.Leigh Day, the London-based law firm representing a group of 273 Mozambicans, argued last year that security forces employed by the...Read More
Game of Thrones loses one of its Dark Hedges trees and all that glitters is not gold.Read full newsRead More
Vancouver, BC - Quadron Cannatech Corporation (CSE:QCC) (the "Company" or "Quadron"), is pleased to announce that it has completed the sale of a BOSS CO2 Extraction System ("BOSS") to Ten-10 Ventures Inc. in Kelowna, British Columbia, Canada ("Ten-10").Ten-10 is an applicant under the Cannabis Act and its principals have years of cultivation experience under medical production rules, and global...Read More
"The economic and financial condition of the U.S. and global economy is similar to that of 2008, although I think now it's a lot worse than it was back then...the 'gravity' of true fundamentals has finally gotten ahold of stocks..."Fundamentals ultimately drive value. In terms of the fundamentals, financial assets - stocks, bonds, real estate - are extremely overvalued. The precious metals sec...Read More
Over the last two years, Uranium Energy (NYSE-AM: UEC) has taken advantage of the downturn in uranium markets and acquired uranium projects in the Powder River basin of Wyoming, Canada's Athabasca basin and Paraguay. "When prices are falling you can pull your horns in and sit on your hands, but we've been very active," says Scott Melbye, UEC's vice-president corporate development.At the same time...Read More
Canada's federal government has approved the environmental assessment of Argonaut Gold 's (TSX: AR) Magino project in Ontario.The open-pit project must still receive provincial government approval for the EA and other key authorizations including a construction permit and mine closure plan.A December 2017 feasibility study estimated the open-pit project would produce about 116,000 ounces of gold o...Read More
Goldcorp (TSX: G; NYSE: GG) expects to produce more silver, zinc, lead and gold equivalent ounces in 2019 compared to 2018.The company, which is currently merging with Newmont (NYSE: NEM), produced 630,000 oz. gold in 2018's fourth quarter at $850 per oz. gold all in sustaining costs (AISC). In 2018, it produced 2.29 million oz. gold, and expects to produce a similar amount of gold in 2019.The com...Read More
The gold miners' stocks have slumped in January, tilting sentiment back to bearish. This sector's strong December upward momentum was checked by gold's own upleg stalling out. Gold investment demand growth slowed on the blistering stock-market rally. But uplegs always flow and ebb, and this young gold-stock upleg merely paused. The gold miners' gains will likely resume soon, rekindling bul...Read More
The last year was a harrowing time for investors in one-time investor darling Great Panther Silver Ltd. (TSX:GPR)(NYSEMKT:GPL). The intermediate silver miner saw its market value collapse dramatically in mid-2018, seeing it down by a whopping 41% over the last year compared to around 13% for silver. While considerable doubts exist about Great Panther's ability to improve its performance in the cur...Read More
Silver's stagnant outlook and poor performance since mid-2018, which eventually saw the white metal fall below US$14 per ounce, has weighed heavily on silver miners. Global X Silver Miners ETF, which provides broad exposure to the 10 largest primary silver miners, has lost 17% over the last year, while many individual miners have suffered even greater losses. These include Maya Gold and Silver (T...Read More
Vast's 2019 plans were thrown into disarray this month when Mercuria Energy Trading pulled a long-awaited US$5.5 million prepayment financing.Read More