It took only 10 seconds to implode two 500-foot cooling towers that belonged to the Brayton Point Power Station in Somerset, Massachusetts.The concrete structures demolished last Saturday were the last remains of the last coal-fired plant in the northeastern US state. Originally built in 1953, the facility provided electricity to millions in both Massachusetts and Rhode Island for five decades unt...Read More
Eskay Creek, formerly the world's highest-grade gold mine, may be headed for a re-start due to very promising exploration work completed by Skeena Resources (TSX.V: SKE).Eskay Creek was operated by Barrick Gold until shutting down in 2008 due to a combination of high operating costs and a low gold price. Skeena picked up the option to explore the closed mine and has been working diligently on the...Read More
Gold has failed to gain traction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leaving traders increasingly bearish. Gold investment demand has flagged dramatically with lofty stock markets spewing great euphoria. That's given gold-futures speculators the run of the market, where they have sold aggressively including extreme shorting. But tha...Read More
Growing uncertainty has increased the attractiveness of gold as a hedge against a market downturn. While this sees some investors bolstering their exposure to bullion or gold exchange-traded funds like the SPDR Gold Shares, one of the best ways to gain exposure is to invest in gold miners with high-quality assets. The standout intermediate gold miner is Kirkland Lake Gold (TSX:KL)(NYSE:KL), which...Read More
Haywood Securities has initiated coverage of Minera Alamos (TSXV: MAI) with a buy rating and 12-month target price of C$0.40 per share-a 281% return from the junior's current share price of C$0.11."Minera Alamos holds two development projects in its project portfolio that can be quickly ramped up to production, with the potential to produce ~ 100,000 ounces of gold over the next few years," mining...Read More
The Fukushima incident still looms large over the nuclear power industry, with uranium prices still nowhere near what they could be. But that could be about to change, with the general sentiment towards nuclear energy enjoying something of a renaissance.Indeed, with Bill Gates, along with other high-profile commentators, chiming in to promote nuclear power as a critical, low-cost energy source ami...Read More
Vancouver-based Rockridge Resources reports drilling high-grade, near-surface copper mineralization at the Knife Lake property 50 km northwest of Sandy Bay. Rockridge has an option with Eagle Plains Resources to acquire 100% interest in the historic property.Drill hole KF19001 intersected net textured to fracture controlled sulphide mineralization between 7.5 to 40.6 metres, returning 33.1 metres...Read More
Toronto-based Anaconda Mining is conducting an infill drilling program at its Argyle gold deposit located about 4.5 km from its Pine Cove mill and tailings facility at the Point Rousse project. Chief executive Kevin Bullock noted in a release that the grade and thickness continuity has been confirmed near the surface.Highlights from the eastern part of the Argyle infill program:Hole AE-19-122: 76...Read More
If you haven't heard me by now, listen up...You need to buy yourself some pot stocks. Just do it. Please.If you've been reading Outsider Club regularly, I really hope that you already have. I couldn't have been more blunt about it over the past half-decade.Before everyone and their mother was crowing about marijuana, CBD, hemp, and every pot derivative under the sun, I was doing research and recom...Read More
Sandvik AB has acquired privately owned Newtrax, a supplier of technology in wireless connectivity to monitor and provide insights on underground operations, including people, machines and the environment."By including Newtrax into the Sandvik family we further strengthen our leading position in areas related to automation and digitalization," said Henrik Ager, president of Sandvik Mining and Rock...Read More
Apr 30, 2019 Guest(s): Mike McGlone The equities, commodities, and precious metals spaces all look like they are trading above their historic averages, which may signal a revision downwards to the mean, this according to Mike McGlone, senior commodity strategist at Bloomberg Intelligence. "The key mean that really matters in the S&P 500 is the mean that started with the Fed rate hike which...Read More
First Quantum Minerals of Vancouver has offered an update on progress at the Cobre Panama copper mine as it made 25 tonnes of copper during the first quarter of this year. The project is on track to deliver between 140,000 and 175,000 tonnes in 2019. About 80% of total output will occur in the second half of the year, as the mill ramps up to its annual capacity of 72 million tonnes by the end of t...Read More
Eskay Creek, formerly the world's highest-grade gold mine, may be headed for a re-start due to very promising exploration work completed by Skeena Resources (TSX.V: SKE).Eskay Creek was operated by Barrick Gold until shutting down in 2008 due to a combination of high operating costs and a low gold price. Skeena picked up the option to explore the closed mine and has been working diligently on the...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks ended mixed as the S&P 500 set a record close and the Nasdaq slumped on a revenue miss from Alphabet. Merck (MRK - Get Report) posted stronger-than-expected first-quarter earnings and the stock rose 2.5%. McDonald's (MCD - Get Report) missed Wall Street's first-quarter earnings expectations but reported impr...Read More
Gold has failed to gain traction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leaving traders increasingly bearish. Gold investment demand has flagged dramatically with lofty stock markets spewing great euphoria. That's given gold-futures speculators the run of the market, where they have sold aggressively including extreme shorting. But tha...Read More
Weekly Reports |Apr 30 2019President Trump may not need all of the 90 days he has to make a decision on section 232 but there is no guarantee of a timeframe.-Uncertainty still reigns-Japan to close reactors-India to build new onesBy Greg PeelUranium market watchers are undoubtedly tired of section 232 but unfortunately uncertainty still hangs like a spectre over the market. The bottom line, after...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 30.Please click...Read More
The London Metal Exchange cash/three-month aluminium contract fell $30.50 to trade below its psychological $1,800-per-tonne price level at $1,779.50 per tonne by close of play on April 30.This is the lowest price level recorded for the LME three-month aluminium contract since January 13, 2017, when it was trading at $1,792 per tonne.The aluminium three-month contract ignored a significant 34% inve...Read More
Aluminium producer Rusal's sales of aluminium value-added products (VAP) were down 22.2% year on year in the first quarter of 2019 amid US sanctions and high premiums, it announced on April 30.Sales of value-added product, such as billet, foundry and slabs, reached 256,000 tonnes in the first quarter of 2019, compared with 333,000 tonnes in the fourth quarter of 2018. First-quarter sales were down...Read More
(Updates with closing prices)By Peter HobsonLONDON, April 30 (Reuters) - Copper prices rose on Tuesdayas investors bet that top consumer China would respond to weakfactory data by implementing fresh stimulus measures.Zinc also gained more than 1 percent as surging premiums forcash metal on the London Metal Exchange (LME) pointed to ashortage of nearby supply.Benchmark LME copper on the LME closed...Read More