Freeport-McMoRan Inc, the world's largest publicly traded copper producer, posted a lower-than-expected quarterly profit on Thursday due to slipping production and prices for the red metal, sending shares down more than 9 percent.The results come amid a more than $15 billion project to expand Indonesia's Grasberg copper and gold mine from an open pit to an underground operation, a complex and time...Read More
Granada Gold Mine is encouraged by the results of a new two stage gravity concentration from its Granada gold project near Rouyn-Noranda. Mineralized material that had only 1.01 g/t gold was successfully upgraded to 67.99 g/t.The pre-concentration study was conducted at the pilot plant of Canada Cobalt Works in Gowanda, Ont.The test was done on a 120-kg sample of low-grade material from the mine's...Read More
South Africa's Sibanye-Stillwater on Thursday revised its offer for Lonmin, with new terms that gave a valuation for the struggling platinum miner that was about 60 million pounds ($77 million) less than originally proposed.Lonmin said Sibanye was offering an additional 0.033 Sibanye shares per Lonmin share in a deal to create the world's No.2 platinum producer. Sibanye had initially said in Decem...Read More
Lucara Diamond Corp has unearthed the largest uncut diamond in recent history in its Karowe mine in Botswana, the Canadian company said on Thursday, beating its own record discovery from November 2015 that it struggled to sell for nearly two years.The 1,758-carat diamond is larger than a tennis ball and weighs close to 352 grams (12.42 ounces), it said in a statement. The stone is second in size o...Read More
Despite unfavourable market conditions, the mining industry is staging a comeback thanks to highly publicized multi-billion mergers and acquisitions targeting mostly the gold sector.The aggregate valuation of all miners listed on the Toronto Stock Exchange (TSX) declined by 12.7% in 2018, to $253.9 billion, compared with a 10.8% decrease in the market capitalization of the entire TSX market, says...Read More
Newmont Goldcorp, the world's biggest gold miner, reported a higher-than-expected first-quarter profit on Thursday, as a boost in gold production and lower costs countered lagging gold prices.At a time when easy-to-find gold reserves are dwindling, Newmont shored up its production pipeline through the $10 billion acquisition of Goldcorp Inc, which closed last week.Newmont Goldcorp did not provide...Read More
Canada's mining industry started the year off on the right foot, with major deals including the Barrick-Randgold merger and Newmont's acquisition of Goldcorp, setting the tone for the sector.As a result, Ernst & Young's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies - rose 5% fin the January-Mar...Read More
Two decades ago, governments and utilities around the world began offering above-market rates and contracts to fuel the rise of clean energy, helping wind and solar become some of the cheapest power sources.Now, these pacts are under attack.In Canada, Ontario Premier Doug Ford killed hundreds of contracts for planned wind and solar farms. Spain pulled back subsidies, yanking the rug from projects...Read More
UrbanGold Minerals (TSXV: UGM) announced this week that it is about to start a helicopter-borne geophysical survey on its 100%-owned StarGold property, located in Quebec, eastern Canada.In a press release, UrbanGold explained that the 809-line-kilometre electromagnetic survey is designed to cover the entire property, and it is aimed at identifying the potential source of a large angular boulder fr...Read More
Toronto-based Wesdome Gold Mines continues to intersect high grades as drilling goes on at the Kiena mine complex in Val d'Or. Drills are testing the Kiena Deep A zone, with excellent results not yet reflected in a resource estimate.Ongoing drilling is expanding the Kiena Deep A zone both up and down plunge. Here are some highlights:Hole 6404: 18.2 g/t gold over 11.0 metres core length (18.2 g/t g...Read More
Two upbeat repots into mining stocks in Canada put the sector firmly on investors’ radar this week, even as the gold price floundered. First quarter production figures added to the mining news flow, although these were not necessarily supportive for individual share prices. PwC’s Canada Mining paper pointed to a solid start to 2019 for mining stocks, which have already recovered most...Read More
With Canada's economy stalling and the possibility the country may soon enter another recession, it is only natural for investors to seek out a safe haven for their hard-earned capital. Typically, gold is one of the favourite investments, as it is acyclical and acts as a great place to store capital during times of fear and panic.Gold also protects investors from inflation, which is a risk during...Read More
From oil and gas to metals and healthcare, there are some solid choices for a long-term investor looking to stack shares in dividend-paying companies on TSX index. These are some of the most defensive areas of investment, operating in sectors that are likely to outrun even a deep and widespread market downturn. Let's take a look at some representative stocks.Enbridge (TSX:ENB)(NYSE:ENB)This ubiqui...Read More
India is currently holding its Lower House general elections and Fitch's Solutions' Country Risk team expects Prime Minister Narendra Modi's National Democratic Alliance, led by the Bharatiya Janata Party (BJP), to win the most number of seats, but fall short of a simple majority in the Lower House.Under this scenario, Fitch forecasts in its latest industry trend analysis, India's mining sector wo...Read More
As cannabis becomes more of a mainstream investment, should stocks like Canopy Growth (TSX:WEED)(NYSE:CGC) join outperforming tech in a capital gains portfolio? Let's review the stats for the TSX index's breakout marijuana stock and compare them against some of the tech growth stocks it most closely resembles, plus one mining stock that makes a feasible tech proxyCanopy Growth could be the front-l...Read More
Investors dumped Nickel and cobalt miner Sherritt International's (TSE: S) shares on Friday, after the company released first quarter earnings.Sherritt reported record first quarter nickel and cobalt production at its Cuban JV. In Q1 2019 nickel production was 4,397 tonnes, up 54% from last year, while finished cobalt was 426 tonnes, up 27%. The combined nickel and cobalt total for Q1 2019 mar...Read More
Perhaps I'm officially "of a certain age" where I can't help but scoff at this, but corporate America just went bonkers with their marketing budgets.Gearing up going into Friday there was a barrage of marijuana- and CBD-related advertising, and this is probably just the start.At the center of this is the long-established but under-the-radar "4/20", which has been an unofficial day for marijuana sm...Read More
ZEN Graphene Solutions (TSXV: ZEN) reported this week that it is collaborating with Constance Lake First Nation to incorporate traditional knowledge into the environmental baseline studies for its Albany graphite project near Thunder Bay, Ontario.In a press release, ZEN said that the studies are already underway and, together with social baseline assessments, they will be an important input into...Read More
Apr 26, 2019 Guest(s): George Gero Gold has been trending with the dollar in recent trading sessions, signaling a decoupling of the yellow metal's traditional negative correlation on the U.S. dollar, said George Gero, managing director of RBC Wealth Management. Gero said that this trend reversal may be caused by strong demand for gold outside the U.S., especially in countries that needed gold t...Read More
Delrey Metals (CSE: DLRY) announced that it has mobilized a team of exploration geologists and samplers to its wholly-owned Star, Porcher and Blackie properties located near Prince Rupert, British Columbia.In a press release, Delrey said the crew will be ground-truthing several kilometre-scale, high amplitude magnetic anomalies highlighted by the recently completed high-resolution geophysical surv...Read More