Carube Copper (TSXV: CUC) announced this week that it acquired a 100% interest in 300 mineral claims covering the Stewart Brook gold project area in Guysborough County, Nova Scotia.The claims were acquired through staking directly from the government, cover 46 square kilometers and are located along strike of Atlantic Gold's Cochrane Hill deposit. Three historical gold districts are within 5 kilom...Read More
I read a critique on Litecoin recently. The basic premise was that Litecoin is just a testing ground or testnet for Bitcoin. The author seemed to insinuate that Litecoin had little value other than testing new technologies prior to Bitcoin implementing them and was not a valuable standalone cryptocurrency. Mike Novogratz also chimed in recently, calling Litecoin a "glorified testnet." Gold has an...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
Gold _ Silver Spot Gold shorts at 1301/03 stopped above 1305 to target 1308/09 then minor resistance at 1312/13. A break above 1314 is a buy signal initially targeting 1319/20.Good support at 1303/01 but below 1299 risks a slide to minor support at 1294/92. Important support at 1284/82. Longs need stops below 1279. Silver topped exactly at our selling opportunity at 1532/35 with stops above 1540....Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
It is the perceived value of the gold that drives its price.There is a "finite" amount of gold available at any given point in time.With a relatively static supply and growing demand, what are the main factors that drive the price of gold?By Scott Bauer At a Glance With more than 3,000 metric tons mined in 2018, gold prices are still moved by supply. How much depends on several other fac...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Mariya Gordeyeva | ReutersGold hit a near two-week high on Wednesday, supported by softer U.S. economic data and as the European Central Bank reinforced an accommodative monetary policy, with focus turning to the minutes from the U.S. Federal Reserve's March meeting.Spot gold was up 0.2 percent at $1,306.88 an ounce, its highest since March 28. U.S....Read More
Investing.com - Gold prices slipped on Wednesday in Asia even as stocks declined after the International Monetary Fund (IMF) downgraded its economic outlook and puts growth forecast at the lowest levels since 2009.Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,306.65 an ounce by 11:10 PM ET (03:10 GMT).Asian equities and other risk assets fell on...Read More
Carlo Alberto De Casa15 hours ago (Apr 10, 2019 9:27 AM GMT)But the bullion run-up has also been held back by the risk-on sentiment dominating markets and a greater investor appetite for risk, which has led to greater inflows of capital into the stock market and towards assets perceived as riskier, such as crude oil, which scored a substantial rally in the first quarter of 2019.So let’s exa...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory. Volumes were thin over the day's trading, with copper's 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically signifi...Read More
Recent developments suggest the outlook is good for silver, and the developments are both fundamental and technical in nature. Here are the details...by Clive Maund of Streetwise ReportsThere were several developments last week that taken together suggest that the short-term bearish scenario set out in the Gold and Silver Interim update about a week ago is not going to materialize and instead th...Read More
The Comex copper price inched lower in morning trading on Wednesday April 10 with a stronger dollar and lack of fresh data weighing on the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9235 per lb. "While we view copper's fundamentals as likely to tighten in the second half of the year, continued sellin...Read More
The queue for aluminium at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim has almost halved over the past month to 121 days as of the end of March. This is down from the 229-day queue registered at the end of February, according to LME data released on Wednesday April 10. The extended wait for deliveries originally built up due to mass cancelations of LME alum...Read More
Chile's Codelco, the world's biggest copper producer, is "perfectly well financed" for the next two years as it pushes forward with its largest-ever drive to revitalize its aging mines, Chairman Juan Benavides said on Wednesday.State-owned Codelco, which produces nearly one-tenth of the world's copper, is set to shell out $40 billion in 10 years to overhaul its century-old Chuquicamata and El Teni...Read More
A bipartisan group of senators introduced legislation Wednesday that would extend a lucrative tax credit for electric vehicles that could benefit companies like Tesla Inc. and General Motors Co.The chances of the Senate extending the electric vehicle tax credit, which President Donald Trump proposed rescinding in his most recent budget request, aren't great, according to analysts."Prospects aren't...Read More
Codelco and other copper mining giants are set to plow billions of dollars into the revitalization of Chile's mines, but that may not be enough to keep the country from losing ground to competitors elsewhere in the world.Demand for copper is widely expected to take off by the mid-2020s amid a boom in electric vehicle production, but Chile is saddled with mines facing crippling declines in ore grad...Read More
Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity.That bodes well for the likes of Chilean producer Codelco, Rio Tinto Plc and other major copper miners, who are investing billions of dol...Read More
Poland's KGHM, one of the world's biggest copper and silver producers, has no plan to sell its foreign assets but may freeze some in Canada or the United States if they require big investments, its chief executive said.State-run KGHM, which for many years had focused only on Poland, accessed Chilean, Canadian and U.S. metal deposits through its almost $3 billion purchase of Quadra FNX in 2012, the...Read More
Nearly 2,000 Zambian villagers have the right to sue mining company Vedanta in the English courts, London's Supreme Court said on Wednesday, raising the prospect other companies could face legal action in England related to their activities abroad.India-listed Vedanta, which delisted from London last year but maintains a legal base in Britain, appealed a lower-court ruling that a case in which vil...Read More
"The copper and silver mineralization is in sandstone and shale, and is especially concentrated where these rocks contain layers of carbon in the form of fossilized plant fragments"Aurania Resources (TSXV: ARU) reported finding high-grade copper and silver over an area measuring six kilometres by three kilometres in the Kirus target area of the Lost Cities - Cutucu project in southeastern Ecuador....Read More