U.S. markets rose moderately last week after investors digested mixed news on the work front. Markets initially retreated after employers added 223,000 jobs in December, more than analysts expected, which raised concerns the economy's strength would prompt the Federal Reserve to extend its program of interest rate hikes to control inflation. However, another report showing wage gains were slowing...Read More
The S&P/TSX Venture Composite Index gained 11.62 points or 2% over the Jan.2-6, 2023 trading session to end at 581.89.Electra Battery Materials closed the week as the top value gainer on the Venture Exchange, adding $1.22 to close at $3.47. Electra announced on Jan. 4 that it had amended an option agreement with Kuya Silver Corp. for its Ontario Cobalt camp assets. Under the terms of the agreement...Read More
Markets got off to a good start in 2023 with the S&P/TSX Composite Index rising 429.59 points or 2.2% to finish the holiday shortened Jan. 3-6 trading week at 19,814.51. The S&P/TSX Global Mining Index gained 7.5 points or 6.9% to 116.36 and the S&P/TSX Global Base Metals Index jumped 11.43 points or 6.3% to 192.08. The S&P/TSX Global Gold Index climbed 24.23 points or 8.7% to 302.02 and the gold...Read More
Northwestern Canada is a vast hub for mineral exploration and mining. Here's a glimpse of eight companies exploring for precious and base metals in British Columbia, Yukon and the Northwest Territories. Amarc Resources Amarc Resources (TSXV: AHR; US-OTC: AXREF), a Vancouver-based mineral exploration and development company, recently initiated a new drilling campaign at its DUKE deposit in centra...Read More
Gold, copper and silver producer Anglo Asian Mining (LSE: AAZ), has made a third investment in Canada's Libero Copper & Gold (TSXV: LBC), which focuses on finding copper assets in the Americas.The Azerbaijan-focussed miner acquired on Monday 2.6 million new Libero shares at 15 ? each, for a total consideration of $390,000.The investment maintains the company's share holding at 19.8% of Libero, and...Read More
Catch Alamos Gold chief executive officer John McCluskey in this video recount the "Cinderella story" of the formerly underrated Island gold mine in northern Ontario.Few paid attention to the mine in 2015 when it was owned by Richmont Mines and gold was at US$1,285 an ounce. But McCluskey saw the potential. Now with gold around US$1,800 an oz., he's getting ready with the ruby slipper of...Read More
Dear Outsider,I thought I'd treat myself to some Chipotle last night for dinner."Treat" is a strong word, as I generally have unpleasant experiences there - how can a multibillion-dollar corporation always be out of sour cream... and literally every other food item?We all remember what happened during the pandemic...But sometimes you just crave that Chipotle taste, which is why the stock's worth a...Read More
(IDEX Online) - A pair of $1m apartments owned by fugitive diamantaire Nirav Modi are to be auctioned.Modi, 51 is facing extradition from the UK back to India, where he is accused of a $1.85bn fraud against the Punjab National Bank (PNB).The Debts Recovery Tribunals will sell the two adjoining flats, on the 16th floor of the luxury Yoo Pune development, in Pune, in the western state of Mahar...Read More
(IDEX Online) - An estimated 20,000 diamond workers have lost their jobs in Surat, India, in the last month, as global demand slumps, according to a report in Economic Times.Most of the city's 4,000 manufacturing units are said to working at just 60 to 70 per cent capacity, according to Damji Mavani, the secretary of Surat Diamond Association (SDA).The city's 800,000 diamond workers are...Read More
(IDEX Online) - The elderly owner of a New York jewelry store is fighting for his life after he was savagely beaten in a $100,000 raid.Manny Cohen, 79, was attacked by two men who forced their way into Roxy Jewelry, in Prospect Lefferts Gardens, Brooklyn, as he was closing for the day.His son Shawn was worried when he didn't answer his phone and scrolled back through the surveillance footage....Read More
Cypress Development advances Nevada lithium project towards productionSPONSOREDcypress development corp4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingLaw 21,420, enacted in early 2022, amended the Mining Code and aims to increase the government take from mining concessions and surface...Read More
Look beyond market approach to project valuations: van ZylLeadershipCypress Development advances Nevada lithium project towards productionSPONSOREDcypress development corp4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingThe LME announced on January 5 that Huey Evans will not seek re-ele...Read More
The early repayment of its gold prepay facility to Newcrest Mining was the first step in debt reduction at the firm.Read More
"The severe cold temperatures of -35° Celsius (-31° Fahrenheit) immediately froze a number of essential systems in the mills, which delayed the restart of milling operations for several days,"Read More
Throughout the downtime, which resulted from the attack on its IT systems, the firm has been shipping copper concentrate to the Port of Vancouver from mine inventory and has maintained its plannedRead More
Cypress Development advances Nevada lithium project towards productionSPONSOREDcypress development corp4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streamingSubsequent to the grant of the extension in 2021, SEMARNAT suggested it had made a typographical error and that the correct term was tw...Read More
"Freeport is successfully ramping up underground mining in Indonesia - our base case assumes progress according to guidance - and growing volumes in 2023 that should support free cash flowRead More
Cypress Development advances Nevada lithium project towards productionSPONSOREDcypress development corp4 Emerging Trends Driven by the Global Mining BoomSPONSOREDproudfootMetalla poised to flourish amid royalty M&A frenzySPONSOREDmetalla royalty & streaming"International geopolitics has become an important factor affecting China's resource supply," the country's minister of natural resourc...Read More
Sun Summit Minerals (TSXV: SMN; US-OTC: SMREF) says 2023 could be a decisive year for the company's Buck gold/silver/zinc project in north-central British Columbia. A set of 3,000 metres of outstanding drill results will shed light on how large the emerging epithermal system is, and company president Sharyn Alexander says an initial resource could be ready before the year is out."With the results...Read More
Arctic Canadian Diamond, operator of the Ekati mine in the Northwest Territories, is on track to expand revenue by more than half as it aims to be the only miner using a remote underwater vehicle with a cutting drum. The Calgary-based unlisted company will likely record 2022 income of about $500 million, an increase of more than 60% from the previous year's 11 months of operations, because of h...Read More