Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Although the financial media conflates the two, there is a difference between a rally and a bull market.Continue...Read More
Some of the mining world's top executives are starting to plan their departures, driving speculation about who will lead their companies into the next decade.The changing of the guard raises the prospect of a strategic shift, as the industry searches for ways to enthuse investors after a belt-tightening era characterized by asset sales and cost control.Here, based on conversations with executives...Read More
IAMGOLD Corporation (TSX: IMG) today announced that it has entered into a forward gold sale arrangement with financial institutions whereby the company will receive a prepayment amount of $170 million in exchange for delivering 150,000 ounces in 2022, with a gold floor price of $1,300 per ounce and a cap price of $1,500 per ounce.The prepaid gold arrangement is supported by a syndicate of banks i...Read More
China's domestic rebar prices softened on Tuesday January 15 amid sparse trading. Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($547-553) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,620-3,660 yuan per tonne, down 30 yuan per tonneRebar futures fell during the day after posting some gains a day earlier. This along with bad weather in several regions dampened demand from end...Read More
Skeena Resources of Vancouver recently completed a surface drilling program on its Eskay Creek property in the province's Golden Triangle.Phase one drilling at the 21A zone returned these highlights:Hole SK-18-033: 4.93 g/t gold, 134.59 g/t silver over 33.57 metres;Hole SK-18-034: 7.11 g/t gold, 54.21 g/t silver over 28.88 metres;Hole SK-18-036: 22.36 g/t gold, 646.92 g/t silver over 14.72 metr...Read More
Underground and surface drilling yields results for Toronto-based Wallbridge Mining Co. at its Fenelon gold project 75 km northwest of Matagami, Quebec. The results are high grade - up to 144.77 g/t gold over 6.1 metres - but the program also resulted in the discovery of a new visible gold zone at depth. Surface drilling has so far returned 4.70 g/t gold over 3.0 metresThe foregoing intersection...Read More
With the receipt of Type A water licences, Toronto-based TMAC Resources has completed the permitting of its Madrid (both north and south) and Boston gold deposits. The Minister of Intergovernmental and Northern Affairs approved the licences, as recommended by the Nunavut Water Board.The company spent last year ramping up production at its first mine on the Hope Bay property - Doris. This year wil...Read More
Gold output in South Africa, once the world's biggest producer of the metal, fell for a 14th straight month in November, the longest streak of declines since 2012.Production retreated 14 percent from a year earlier, Pretoria-based Statistics South Africa said in a statement on its website Tuesday.Key InsightsTotal mining output dropped 5.6 percent from a year earlier, the biggest decrease since Au...Read More
Lion One Metals (TSXV: LIO) announced that it has just bought the drilling assets of Geodrill, which is located on Fiji's main island.The purchase would allow Lion One to prepare for drilling at its 100%-owned Tuvatu gold project on Viti Levu, also in the Fiji Islands.In a press release, the North Vancouver miner said that the Geodrill asset package includes one surface diamond drill rig capable...Read More
Import prices for steel slab in Southeast Asia and East Asia softened over the past week due to limited demand amid a continued slowdown in finished flat steel sales. Additionally, trading activity remained sparse because of a mismatch in bids and offers.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $420-435 per tonne cfr on Monday January 14, widenin...Read More
Toronto-based Palamina Corp. (TSXV: PA) took one step forward regarding its 100%-owned Coasa gold project by submitting, this week, an Environmental Impact Declaration (DIA in Spanish) to the Peruvian Ministry of Energy and Mines. Such a declaration is the primary environmental permit required prior to drilling.The 17,200-hectare Coasa project is located in the Puno region of southeastern Peru and...Read More
Canadian precious metals producer McEwen Mining (TSX, NYSE: MUX) on Tuesday posted 2018 production results that exceeded expectations, with gold equivalent output climbing 15% from 152,329 ounces in 2017 to 175,561 ounces last year.Full-year production included 135,124 ounces of gold, up 23% when compared to the previous year, and 3.03 million ounces of silver, or 4.5% less than in 2017.Output at...Read More
Canada's IDM Mining (TSX-V:IDM), which is in the process of being absorbed by fellow miner Ascot Resources (TSX-V:AOT), can now start building its flagship Red Mountain gold and silver mine near Stewart, British Columbia, as it has received the federal government's environmental approval.Environment and Climate Change Minister Catherine McKenna said late on Monday that the proposed mine was not...Read More
UG2 chrome ore prices showed signs of improvement for the first time since October due to strengthening currencies in the week ended Friday January 11. UG2 prices tick up for the first time since OctoberChinese domestic ferro-chrome stalls, charge chrome inches lowerAlloy prices flat in Japan, South KoreaEuropean alloy prices under pressure UG2 chrome ore prices edged higher on Friday due to the...Read More
A CIBC report discussed the terms, pros, cons and specifics of this transaction in the large-cap gold mining space. In a Jan. 14, 2019 research note, CIBC analyst Anita Soni reported that Newmont Mining Corp. (NEM:NYSE) entered into a definitive agreement to acquire Goldcorp Inc. (G:TSX; GG:NYSE) for $10 billion. Closing of the deal is expected in Q2/19. Soni pointed out that on one hand, the acq...Read More
Echelon Wealth Partners reviewed the activity investors should expect from this Vancouver-based company in a 'pivotal' Q1/19. In a Jan. 8 research note, analyst Ryan Walker reported Echelon Wealth Partners again chose Pure Gold Mining Inc. (PGM:TSX.V) as a Top Pick for Q1/19, a "pivotal quarter for the company with several catalysts in the offing." Echelon's "positive view on the company's share...Read More
In China, the falling alloy market weighed on manganese ore prices, especially for lower-grade material, in the week ended Friday January 11, while the silico-manganese price in India increased. Price of 37% manganese ore, fob, falls by 35 cents per dmtuOre and alloy prices weaken in ChinaSilico-manganese price moves up in India, down in USAlloy prices in Europe unmoved78% FeMn market in US ticks...Read More
CloseGain/LossGold $1289.20-$2.40Silver$15.57-$0.06XAU69.37-2.50%HUI153.07-2.68%GDM576.85-1.64%JSE Gold1345.05-31.18USD95.93+0.33Euro114.12-0.58Yen92.36-0.05Oil$52.11+$1.6010-Year2.718%+0.011T-Bond145.3125-0.09375Dow24065.59+0.65%Nasdaq7023.83+1.71%S&P2610.30+1.07% The Metals: Gold dipped $4 to $1287.60 at about 5AM EST before it rose to as high as $1294.70 by midmorning...Read More
- Turbulent markets and Brexit mean it is essential to consider safer options like gold- You need to take some risk in a portfolio - cash, gold and planning are essential- To build a financial fortune & long-term wealth one must diversify assets & own gold- "Physical gold (bars & coins) can be bought from an online bullion dealer -the likes of Goldcore" writes Jeff Prestridge for This Is Money...Read More
Fears of a contagion effect of the Chinese slowdown is preventing industrial metals and crude oil from rising. Focus is more on Brexit globally. There is speculation that the UK might now leave the European Union. The Cable will zoom like a space rocket if there is clear information that the UK will not leave the European Union. A second referendum vote (if any) will be in favor of the UK not le...Read More