Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, has chosen Japan's Sumitomo as partner to go ahead with a planned $4.8 billion expansion of the Quebrada Blanca copper mine in northern Chile.Sumitomo Metal Mining and Sumitomo Corporation will pay $1.2 billion to Teck for a 30% stake in the Quebrada Blanca Phase 2 project - $800 million earn-in contribution and...Read More
December 4, 2018 The double bottom is the world's most stressful chart pattern. It forms after a significant price decline. The first low in the pattern creates substantial panic and fear in most investors.The second low in the pattern is "softer", but no less dangerous to emotionally vulnerable investors. The volume is generally weak and the price action makes investors feel like they are in so...Read More
Gold has picked up a tailwind in recent trading and that has investors kicking the tires on some of the top stocks in the industry.Let's take a look at Barrick Gold (TSX:ABX) (NYSE:ABX) to see if it deserves to be in your portfolio.Gold marketAt the time of writing gold trades for US$1,239 per ounce. That's the best price since July and pundits are wondering if it could be the start of a rally bac...Read More
As with last Wednesday's investor excitement over suggestions of a looming pause in Fed tightening, the risk is the cheer over a trade-war ceasefire becomes a one-day wonder, Bloomberg noted.US and UK indices had closed higher yesterday while Asian markets were lower in afternoon trade today.Australia's metals and mining stocks on the benchmark S&P/ASX200 were down 0.86% overall but the gold s...Read More
Prime Minister Bruno Tshibala signed the decree, dated November 24, the wire service reported.The change had been flagged earlier this year, with cobalt royalties already increased from 2% to 3.5% under the country's new mining code which came into effect mid-year, despite strong opposition by mining companies including Glencore (LSE: GLEN). The global miner and commodities trader has indicat...Read More
The report, Keep it in the regions: Mining and resources industry support for businesses in regional economies, is the outcome of the Industry, Innovation, Science and Resources Committ...Read More
Premier Rachel Notley of Alberta.Facing a historically large discount, the Alberta government is moving ahead with a mandated reduction in its oil production in a bid to stabilize prices and protect jobs in the province.Beginning on January 1, 2019, Alberta will mandate an across the board reduction of 325,000 barrels per day, or roughly 8.7%.In announcing the measures on a nationwide television b...Read More
Exploration Manager, Bruce Smith, and Chief Geologist, Rodrigo Matias, during the discovery of Amalia. Source: Radius Gold Inc.Radius Gold Inc. [RDU-TSXV; RDUFF-OTC] on Tuesday December 4 announced results from an initial drill program at the Amalia gold-silver project in Chihuahua, Mexico, where Pan American Silver Corp. [PAAS-TSX, NASDAQ] has the option to earn up to a 75% interest.Radius said...Read More
The Quebrada Blanca copper mine in northern Chile. Source: Teck Resources Ltd.Teck Resources Ltd. [TECK.B-TSX; TECK-NYSE] said Tuesday December 4 that it has agreed to sell a 30% stake in its Quebrada Blanca copper mine expansion in northern Chile to Sumitomo of Japan for US$1.2 billion.As a result, Vancouver-based Teck has formally sanctioned the fully permitted US$4.7 billion project for develop...Read More
Share this articleVANCOUVER - Teck Resources Ltd. has sold a 30 per cent stake in its Quebrada Blanca Phase 2 project to Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. for US$1.2 billion.The Vancouver-based miner also says that its board has approved the project for full construction with first production expected in the second half of 2021.Quebrada Blanca Phase 2 is a massive undeveloped cop...Read More
In the book Hells Angels: A Strange and Terrible Saga by Hunter S. Thompson, he writes about finding the edge on a motorcycle. The edge is that ultimate point where you are pushing yourself and the bike to its limits, on the verge of crashing, but not.The Edge... There is no honest way to explain it because the only people who really know where it is are the ones who have gone over. The others-the...Read More
Inhalable "microbots" under development at Colorado School of Mines could be used to help treat cystic fibrosis, a chronic and progressive genetic disease that causes severe damage to the lungs and other organs.David Marr, professor of chemical and biological engineering, and Keith Neeves, associate professor of chemical and biological engineering, have been awarded $418,000 from the National Inst...Read More
Since the beginning of the Twentieth Century, a healthy mineral exploration industry has been the major driving force that has uncovered northern Manitoba's economic mineral deposits to the benefit of all Canadians.Multiple cities and communities were established in Manitoba due to these exploration and mining successes, including Flin Flon, Thompson, Snow Lake and Bissett.In the 1990s, the Manito...Read More
Spanish Mountain Gold (TSXV: SPA; US-OTC: SPAZF) is infill drilling its flagship Spanish Mountain gold project in British Columbia. The company is targeting near surface areas of the project's First Zone to upgrade from the inferred to the measured and indicated categories.Highlights from the program include 1.76 grams gold over 27 metres from 24 metres downhole and 0.82 gram gold over 67 metres f...Read More
The S&P/TSX Venture Composite Index fell 2% to 589.52. It has been on a slow but steady decline since the start of 2018.Shares of SilverCrest Metals rose 28 ? to $3.27. Recently, SSR Mining agreed to invest $31 million into the company, buying more than 8 million shares at $3.73 per share.Earlier in the month SilverCrest announced some of its best drill-hole intercepts to date at its Las Chispas s...Read More
Lithium-focused Wealth Minerals (TSXV: WML; US-OTC: WMLLF) says it will spin out a copper company, containing two copper exploration projects, that it plans to acquire in Chile.Wealth Copper will be spun out to shareholders of Wealth Minerals and eventually the new entity will list on the TSX Venture Exchange, the company says.Henk Van Alphen, Wealth Minerals' CEO, says the spin-out gives sharehol...Read More
Carube Copper (TSXV: CUC) has expanded the gold-in-soil anomaly at its Main Ridge gold project in Jamaica east to a 5.5 km total strike length.Though Carube has several copper and gold projects in Jamaica, the company says Main Ridge is one it can fast track through exploration. Carube is now carrying out detailed mapping and sampling at Main Ridge, including rock-chip samples, grab samples and ch...Read More
Canada's benchmark index rose 1.24% to end the trading week at 12,197.82. The S&P/TSX Global Mining Index fell 0.19% to 62.58 and the S&P/TSX Global Gold Index fell 1.4% to 164.34. The gold price fell 0.01% to US$1,222.10. Shares of Moneta Porcupine Mines rose 27% to 12 ?. The company recently modelled a geological interpretation for its Golden Highway gold project near Timmins, Ontario. The model...Read More
In its 2019 forecast, the Australian bank put the average price for the upcoming March quarter at below US$1,200 per ounce.This forecast means a drop from the current price of $1,231/oz can't be far off."[The] US-China trade war is a source of market anxiety and, therefore, potential support for gold and silver prices. But for now, buoyant US economic activity and the US Fed's ongoing rate-hike cy...Read More
A few weeks back, I explained to you that Europe and Japan were the poster kids of monetary irresponsibility and that no matter how loud the dollar bears scream, it's Europe and Japan that will blow up first.I also told you that "the December rate hike and the volatility a rising dollar will cause globally is the setup for an explosive 2019 as the Fed will blink and reverse course, leading to a se...Read More