Digging Deep

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

China Snared in "Middle-income Trap"

February 18, 2019 / dailyreckoning.com

A large number of China analysts are concluding that growth in China is slower than the official government reports. In fact, growth is even worse than the pessimists imagine.The statistics on Chinese GDP growth for the fourth quarter of 2018 and the full-year have been widely reported. Quarterly growth was 6.4% (annualized), the lowest ever reported. Full-year growth for 2018 was 6.6%, the lowest...Read More

Multiple Risks Are Converging at Once

February 15, 2019 / dailyreckoning.com

Since the end of QE and the "taper" in October 2014, the Fed has been trying to "normalize" their balance sheet and interest rates. The balance sheet needed to be reduced from $4.5 trillion to about $2.5 trillion through "quantitative tightening" or QT, which is tantamount to burning money.Interest rates needed to be raised to around 4% in stages of 0.25%. The purpose of QT and rate hikes was so t...Read More

METALS MORNING VIEW 19/02:Most metals prices consolidate, copper challenging resistance again

February 20, 2019 / www.metalbulletin.com

The three-month base metals prices traded on the London Metal Exchange were mixed and little changed on the morning of Tuesday February 19.Zinc led the decline with a 0.3% drop to $2,635 per tonne from $2,643.50 per tonne at Monday's close, followed by nickel that was down by 0.2% at $12,440 per tonne from $12,465 per tonne, while aluminium was up by 0.2% at $1,858 per tonne from $1,854 per tonne....Read More

More Evidence of Coming Recession

February 15, 2019 / dailyreckoning.com

The stock market took a wobble yesterday.The Dow Jones slipped 104 points, the S&P seven.The Nasdaq worked a slight gain… but the bears won the day's combat by majority decision.The averages roared back today. But what accounts for yesterday's loss?The American consumer evidently caught a flu last quarter.November-December retail sales suffered the largest monthly drop since September 20...Read More

One Step Closer to Ruin

February 14, 2019 / dailyreckoning.com

"Blessed are the young, for they shall inherit the national debt."- Herbert HooverToday we pause to acknowledge a sad mile marker… another waypoint on the road to the poorhouse...This week - for the first time in its 244 years - total United States debt exceeds $22 trillion.The last $2 trillion has piled on since Mr. Trump donned the imperial purple.The United States required 205 years to ri...Read More

Prize Mining Reports Results From Phase 1 Drilling Program at the Manto Negro Project, Coahuila State, Mexico Including 1.29 Percent Copper Over 6 Metres And 3.23 Percent Copper Over 1.05 Metres and Provides a Corporate and Regulatory Update

February 19, 2019 / prizemining.com

Vancouver, British Columbia (February 19, 2019) - PRIZE MINING CORPORATION ("Prize" or the "Company") (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) wishes to provide an update on the results and success of the company's Phase 1 diamond drilling program at the Manto Negro Copper Project in Coahuila State, Mexico. The Company is also pleased to provide a corporate and regulatory update relating t...Read More

RJK Exploration Drilling Results And 2019 Exploration Plans For Rolling Pond Property

February 15, 2019 / www.rjkexplorations.com

Kirkland Lake, Ontario - February 15, 2019 - RJK Explorations Ltd. (“RJK” or the “Company“) (TSXV: RJX.A) has received assay results from the incomplete drill hole that was terminated during the 2018 drill program on its Rolling Pond gold Property located in Central Newfoundland. As reported in a Press Release dated December 24, 2018, the drilling had been terminated a...Read More

The United States' aluminium tariff wall is crumbling

February 19, 2019 / www.mining.com

It is almost a year since the United States imposed duties on imports of aluminium and steel on national security grounds.If the aim of the so-called "Section 232" tariffs was to lift domestic production, President Donald Trump's administration can claim a degree of success.U.S. output of primary aluminium has started rising sharply thanks to restarts of idled capacity, although not all of them ha...Read More

New policy needed to advance space resources industry

February 19, 2019 / www.minesnewsroom.com

Space mining - the extraction and use of resources from the moon, asteroids and more - once sat firmly in the realm of science fiction. Now, the first missions to harvest water from the permanently shadowed regions of the moon could be only a decade away. Earlier this month, a pair of Colorado congressmen introduced legislation to study the creation of a NASA-led Space Resources Institute that...Read More

First Mining hits higher gold recoveries at Springpole

February 19, 2019 / www.northernminer.com

First Mining Gold (TSX: FF; US-OTC: FFMGF) says positive interim metallurgical test results for its Springpole gold project, located 110 km northeast of Red Lake, Ont., could increase the project's gold recovery 13.2% to 90.6% and silver recovery 11.9% to 95.1%.M3 Engineering and Technology and ALS Metallurgy completed the flotation testwork on material from Springpole. They then performed separat...Read More

OceanaGold reports $124M profit for 2018

February 19, 2019 / www.northernminer.com

OceanaGold (TSX: OGC; ASX: OGC) reported annual revenue in 2018 of US$773 million and net profit before unrealized gains or losses on undesignated hedges of US$124 million.Earnings before interest, tax, depreciation and amortization (EBIDTA) came in at US$364 million.The company generated about US$121 million in free cash flow and US$346 million in operating cash flow.At the end of the year, Ocea...Read More

South Africa's AngloGold looks to streamline assets, Argentine mine up for sale

February 19, 2019 / www.mining.com

* AngloGold reports earnings rise* Looks to sell interest in Cerro Vanguardia* Approves Quebradona project feasibility study (Recasts with asset sale, adds CEO comments)South Africa's AngloGold Ashanti said on Tuesday it was putting its interests in an Argentine mine up for sale as it looks to focus on operations with a longer shelf life and ability to deliver higher returns.AngloGold Chief Execut...Read More

South African parliament approves long-delayed carbon tax bill

February 19, 2019 / www.mining.com

South Africa's parliament approved on Tuesday a long-delayed carbon tax bill as it seeks to reduce harmful carbon emissions in Africa's most industrialised and polluting country.Big energy users including Sibanye-Stillwater and ArcelorMittal's local unit have opposed plans by South Africa to enact carbon tax laws in 2019, arguing the levies are unaffordable and should be scrapped or delayed."Clima...Read More

Dry bulk market prospects worsen after Brazil dam disaster-shipper Golden Ocean

February 19, 2019 / www.mining.com

The prospects of dry bulk shippers carrying iron ore from mines to smelters have worsened due to the accident at Vale's Brumadinho dam in Brazil, Golden Ocean said on Tuesday as it presented forecast-beating quarterly earnings.The dam in the town of Brumadinho, which contained tailings, the mud-like byproducts of iron ore mining, burst on Jan. 25, killing at least 166 people and with almost 200 mo...Read More