According to Q1 results, Kirkland Lake Gold is headed for a profitable 2019. The company said its cash position was up 25% to reach $83.9 million. Operating cash flow grew 95% to $174.4 million, and that resulted in record free cash flow of $93.1 million, an 85% jump from Q1 2018 and up 8% over Q4 2018.During the first quarter of this year, the company's revenue grew 54% to a record $304.9 million...Read More
Kinross Gold (TSX: K, NYSE: KGC) released its first quarter results on Tuesday, and the world's no. 4 gold miner reported strong quarterly performance and said it is on track to meet 2019 annual guidance.Kinross reported first quarter gold equivalent production of 606,031 ounces, which is in line to meet 2019 guidance, targeted at 2.5 million ounces.Production cost per ounce was $682, a win for Ki...Read More
Charlie Munger, Warren Buffett’s partner at Berkshire Hathaway, believes that investing is largely a game of patience.Munger and Buffett have displayed a talent for picking the right stocks, but sticking with them for decades is what’s provided a lot of their outperformance."If you took our top 15 decisions out, we'd have a pretty average record,” Munger said. “It wasn't hy...Read More
Shares of IAMGOLD (TSX: IMG) (NYSE: IAG) slumped more than 12% at market open on Tuesday following its Q1 results release, bringing its market capitalization down to $1.2 billion. The Toronto-based gold miner reported an adjusted net loss of $2.2 million, or roughly $0 per share, falling short of analysts' expectations of $0.01 per share.According to the company, it had a challenging first quarter...Read More
Canada Cobalt Works has signed a deal for the custom treatment of material from U.S. mines using its proprietary Re-2OX process.A non-binding memorandum of understanding has been signed between Canada Cobalt and Global Energy Metals of Vancouver. Global Energy has two cobalt-copper projects in Nevada. Material from the Lovelock mine and Treasure Box property will be treated to confirm recoveries a...Read More
May 07, 2019 Guest(s): Peter Grosskopf CEO, Sprott Macroeconomic forces should be providing tailwinds for gold, but unlike an apathetic market, Sprott's CEO, Peter Grosskopf, remains constructive the yellow metal, a contrarian move. "Nobody likes gold right now, and we're contrarian, and we think there's great investment opportunities across the spectrum in gold, even if it doesn't move. But at...Read More
Noront Resources of Toronto has chosen the Algoma Steel site in Sault Ste. Marie for its ferrochrome production facility.Four communities - Timmins, Sudbury, Thunder Bay, as well as the Sault - were considered beginning in February 2018. With the help of Hatch engineering firm, they were examined for their environmental and site suitability, capital costs, operating costs, and an assessment of com...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks ended down for a second straight session Tuesday as investors reacted to more market volatility amid heightened trade tensions between the U.S. and China. Shares of Boeing (BA - Get Report) declined after analysts at Barclays downgraded their rating on the aerospace giant to equal weight from overweight. Amer...Read More
Several weeks ago we wrote about the downside risk in the gold stocks.After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes.While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound.We plot...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 7.Please click...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
London Metal Exchange base metals prices failed to rally during the afternoon session on Tuesday May 7, with the furor surrounding fresh trade tension between the United States and China serving only to exacerbate bearish market sentiment. None fared worse than the LME three-month nickel price, which dipped to a low of $11,990 per tonne low on May 7, the first time the price has dropped below $12,...Read More
Weekly Reports |May 07 2019The uranium spot price ended April above the end-March price, but momentum faded as the month wore on.-April rally spot uranium fades-US production plunges-France to extend nuclear reduction timeframeBy Greg Peel20 transactions were concluded in the uranium spot market in April, industry consultant TradeTech reports, totalling 4.6mlbs U3O8 equivalent. Having been on the...Read More
Bob Moriarty ArchivesMay 7, 2019Very few people actually understand my role in the resource sector. Lots of people think I am just a guy who runs a mining website and writes about companies now and again. Actually behind the scenes I am far more active, and verbal than readers realize. You can talk to anyone who has ever worked with me and they will tell you that they may not agree with me but the...Read More
The National Association of Realtors (NAR - existing home sales reports) and the Census Bureau (new home sales reports) report monthly sales on a "seasonally adjusted annualized rate" basis (SAAR). Notwithstanding the reliability - or lack thereof - of the "seasonal adjustments," it would seem absurd to report monthly home sales on an annualized rate basis.To the extent the NAR and Census Bureau's...Read More
China imported around 901,767 tonnes of chrome ore and concentrates in March, a drop of 20.6% month on month and a fall of 41.9% year on year, according to official but unconfirmed data seen by Fastmarkets. Meanwhile, China's chrome ore imports from South Africa, the world's largest chrome ore producer, came to 660,503 tonnes in March, accounting for around 73.2% of total shipments despite recordi...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comMay 7, 2019 There has been an uptick in market risk over the past couple of weeks, and that’s being reflected in dollar-yen and dollar-gold. Please click here now.Double-click to enlarge this dollar versus yen chart. The 109.50 area on this chart is quite important for gold investo...Read More
China imported 2.7 million tonnes of manganese ore in March, up 21.9% from February and 42.6% higher year on year, according to official but unconfirmed data seen by Fastmarkets. The quick pick-up in shipments to China in March was a direct result of falling manganese ores prices in January which prompted Chinese buyers to secure cheap units. Fastmarkets' 37% manganese ore index dropped to...Read More
The US ferro-silicon price continued its precipitous fall last week amid pressure from the softer prices in global markets. Meanwhile, the European market found temporary stability amid shifting sentiment.US ferro-silicon market continues to weakenUS spot prices for ferro-silicon softened to 88-93 cents per lb on Thursday May 2, down by 2.7% from 92-94 cents per lb a week earlier, according to Fas...Read More
* Zinc hits two-month low on expectated higher supplies * Copper cancelled warrants near 27 percent * GRAPHIC-2019 asset returns: (Updates with closing prices)By Pratima DesaiLONDON, May 7 (Reuters) - Copper prices fell on Tuesdaytowards 2-1/2 month lows hit last week on worries about demandafter U.S. President Donald Trump said he would raise tariffs onChinese goods before U.S-China trade talks.B...Read More