Nemaska Lithium (TSE: NMX) announced on Monday it has terminated a multi-year supply agreement with Livent Corporation that would cost the Quebec company up to $20m to settle.The deal with Livent, spun out of US lithium major FMC Corp last year, saw Nemaska provide up to 8,000 tonnes per year (28,000 tonnes in total during the term of the contract) of lithium carbonate starting in April this year....Read More
* Industry one of biggest consumers of power* Deeper power cuts risk production, jobs* Some eyeing own power generation* But say face red tapeBy Tanisha Heiberg and Zandi ShabalalaJOHANNESBURG/LONDON, Feb 18 (Reuters) - South African utility Eskom imposed the worst power cuts in several years on homes and businesses last week, conjuring up memories of the 2008 crisis when the grid nearly collapsed...Read More
(Bloomberg) - Liberian President George Weah declared Monday a day of national mourning after more than 40 people were killed in a mudslide at an alleged illegal mine in the north of the country.The national disaster management agency has been searching for survivors since the incident in Nimba County last weekend, but the region is inaccessible and getting the necessary equipment there is posing...Read More
Locals claim that pollution caused by bauxite mining has turned Malaysia's sea red. Photo by GERAM | CleanMalaysia.comKUALA LUMPUR, Feb 18 (Reuters) - The Malaysian government said it would not extend its moratorium on bauxite mining which ends on March 31 due to strong demand for the industry, state news agency Bernama reported on Monday, quoting the water, land and natural resources minister.Mal...Read More
Feb 18 (Reuters) - African miner Petra Diamonds named a new chief executive on Monday as it works to cut debt and generate free cash flow after first-half core earnings were hit by lower diamond prices.The news helped lift its shares more than 8 percent by 1010 GMT. The broader mining market was little changed.Analysts said appointing Richard Duffy, who has held finance posts in his 27 years in th...Read More
The world's two biggest gold miners both announced mega-mergers over the past 5 months or so. These huge deals briefly garnered some interest in the usually-forgotten gold-stock sector, and fleeting praise from Wall Street analysts. But gold-stock mega-mergers are bad news for gold-miner shareholders on all sides. They reveal the serious struggles of major gold miners, and really retard futu...Read More
Of all the stocks I have invested in over the years, Labrador Iron Ore Royalty (TSX:LIF) is one of the most painful to remember. This is one I held for years before committing the cardinal mistake of selling when the news is the gloomiest, just the time that I should have been buying.From 2013 to 2016, I held shares of this company. When I first heard of it, LIF was trading for around $30 a shar...Read More
With nearly two-thirds of its revenue coming from copper, Lundin Mining (TSX:LUN) could be poised to go on steroids over the next decade. At least that's the opinion of one Citigroup analyst."Prepare for a decade of Dr. Copper on steroids," noted a recent Citigroup report, which forecasted prices of US$8,000 per tonne in 2022, rising to $9,000 per tonne by 2028."We look beyond the potential tra...Read More
Gold miner Continental Gold (TSX:CNL) has been mired in controversy since three of its employees were murdered in September 2018, leading to media claims that management was derelict in caring for their well-being. This - along with an armed attack on two engineers near its flagship Buritica project, changes to financial projections, including projected operating costs and the need for an addition...Read More
Last summer I'd discussed the rise in interest for lithium producers, which was largely powered by the excitement for the coming electric vehicle boom. In a follow-up article in July, I'd discussed how the market could behave in the near term. With supply expected to flood the market, I'd warned investors that lithium prices had likely peaked in 2018 and were expected to fall in 2019.This meant th...Read More
Orocobre's (TSE: ORL) Salar de Olaroz in was the first brine lithium operation to go into production in more than 20 years when it was commissioned in 2014.But ramp up has been painfully slow at the Brisbane-based company's Argentina venture and on Tuesday, Orocobre had more bad news for investors who'd bet that the company could ride the lithium rally before it fizzled.Orocobre said heavy rains...Read More
In honor of Valentine's Day, when lovers all over the world are pledging to give one another their hearts, I wanted to spend some time discussing the heart.Not in that intangible, loving sense, but literally giving someone your heart...In December of 1967, South African surgeon Christiaan Barnard made medical history when he inserted the heart of a dead man into the living body of another.It was t...Read More
News out this week is that there is strong interest in cannabis among senior citizens.Upon reading this news, a very prominent investor and friend emailed me. (I won't say his name, but you would know who it is if I did.)His email read simply: Too late.What he means is that if the elderly are now hip to weed... it's too late to make any profits. Akin to Joe Kennedy and the shoeshine boy, or your m...Read More
Wolfden Resources, headquartered in Thunder Bay, Ont., has the results of diamond drilling at its 100% owned Orvan Brook property near Bathurst. The property is only 15 km from the active Caribou zinc-lead mine.A longitudinal section of the Orvan Brook deposit. (Image: Wolfden Resources)The company drilled 10 holes - four on the West lens and six on the East lens - for a total 0f 2,649 metres late...Read More
Toronto-based Nighthawk Gold Corp. continues to explore its Indin Lake gold property. Work done in 2018 included 2,153 grab and channel samples that led to the discovery of new high grade gold showings.Gold showings and targets at the Indin Lake gold property. (Image: Nighthawk Gold)The company also drilled the first ever holes at the Swamp target. This is a newly defined and laterally extensive g...Read More
The Mining Association of BC (MABC) is commending the provincial government for its Budget 2019 commitment of $20 million, over three years, in additional funding for the Ministry of Energy, Mines and Petroleum Resources.MABC has advocated for an adequately resourced system that functions with clarity, consistency and co-ordination. This advocacy was echoed in the recommendations from the Mining J...Read More
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, Ontario, 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...Read More
The world's two biggest gold miners both announced mega-mergers over the past 5 months or so. These huge deals briefly garnered some interest in the usually-forgotten gold-stock sector, and fleeting praise from Wall Street analysts. But gold-stock mega-mergers are bad news for gold-miner shareholders on all sides. They reveal the serious struggles of major gold miners, and really retard futu...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed higher Tuesday, coming off its eighth straight weekly gain. The Nasdaq edged higher - it has closed higher for six straight sessions.Walmart Inc. (WMT) rose 2.23% to $102.22, after the world's largest retailer posted adjusted earnings in its fourth quarter of $1.41 a share, beating analysts' f...Read More
Seasonal financial analyst Don Vialoux says his 'best buy' for the coming months is the base metals sector, and the easiest way to play the sector is through exchange-traded funds, he adds. He picks three global base metals ETFs and two copper ETFs, a metal he is especially bullish on.Copper inventory and prices are low. A US-China trade agreement could create a surge in demand for the 'red metal'...Read More