On Monday, May 13, McEwen Mining reported that a fatal accident involving a contractor's employee occurred at the Gold Bar Mine in Nevada. The Company initiated an investigation into the accident, working with the contractor and the local authorities to determine the cause. The accident involved a haul truck that overturned while operating at the site, and the individual who was fatally injured...Read More
Canada is giving the country's mining association more than C$325,000 ($242K) to develop a program that would give miners the tools and knowledge needed to better plan for climate change in decision-making at all stages of an operation's life.The project - Climate Change Risk and Adaptation Best Practices for the Mining Sector - was announced Friday by Paul Lefebvre, Parliamentary Secretary t...Read More
The major gold miners' stocks are drifting sideways with gold, their early-year momentum sapped by the recent stock-market euphoria. But they are more important than ever for prudently diversifying portfolios, a rare sector that surges when stock markets weaken. Their just-reported Q1'19 results reveal how gold miners are faring as a sector, and their current fundamentals are way better than b...Read More
Michael Willoughby, head of Asia Pacific metals and mining investment banking at JPMorgan Chase & Co., is leaving to join British lender Standard Chartered Plc, people familiar with the matter said.Willoughby has been named co-head of metals and mining for the region at Standard Chartered and will be based in Singapore, the people said, asking not to be identified as the appointment isn't yet publ...Read More
South Africa's Competition Appeal Court said Friday that Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) planned takeover of Lonmin (LON:LMI) could go ahead, clearing the way for shareholders to vote on the transaction that would create the world's second-largest platinum producer.The transaction would create the world's second-largest platinum producerThe country's Competition Tribunal had approved t...Read More
Northern Superior Resources (TSXV: SUP) reported the discovery of eight gold-bearing structures and alteration zones at its Ti-pa-haa-kaa-ning (TPK) gold-silver-copper project in northwestern Ontario.In a press release, the miner said the discoveries represent a critical and important advance in defining bedrock-hosted high-grade gold mineralization, necessary to yield the unique world-class gold...Read More
Canadian bullion producer IAMGOLD Corp. (TSX IMG), (NYSE: IAG) said it wasn't aware of any material change that would account for a sharp price rise in its stock on Thursday and into early trading on Friday, following reports that the miner was exploring a possible sale of all or parts of its business.The Toronto-based firm, which doesn't usually comment on speculation and rumours, didn't openly...Read More
The reasons for the miss and possible paths forward were outlined in a ROTH Capital Partners report. In a May 9 research note, analyst Jake Sekelsky reported that ROTH Capital Partners reduced its target price on Hecla Mining Co. (HL:NYSE) to $3 per share from $4 after the company suspended operations at its Nevada operations. The stock was trading at around $1.51 per share on May 16.Management...Read More
The United States has lowered its tariffs on steel imports from Turkey to 25%, from the previous 50%, effective Friday May 17.The move reverses a decision by US President Donald Trump in August last year to impose higher tariffs on US imports of Turkish aluminium and steel amid an escalation in tensions between the two countries.Turkey exported 6 tonnes of hot-rolled coil under HS code 7208 to the...Read More
Reports of a standstill between the U.S. and China reversed the Dow's earlier gainsThe Dow's midday comeback didn't last long, as the index slipped back belowbreakeven by the end of the day. The index lost nearly 100 points, amid reportsthat trade negotiations between Washington and Beijing have come to a standstill. This follows a China representative's comments that the U.S. is exhibiting "bully...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Chip stocks also made headlines this weekGlobal trade tensions highlighted yet another week of big stock market moves. Specifically, Monday kicked the week off on a sour note, as China's retaliatory tariffs on U.S. imports pushed the Dow and Nasdaq to their worst days since January and December, respectively. However, stocks spent the rest of the week attempting to erase those losses, with traders...Read More
Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.The company will invest ?,?60 million ($67.33 million) over a two-year period to increase capacity at Riesa, it said on Wednesday May 15."The investment will strengthen the current producti...Read More
Evercore ISI is worried about Tesla's sales futureStocks have mended early losses on the back of bullish economic data, the Dow now pacing toward a close in positive territory. Three names making headlines today are electric car maker Tesla Inc (NASDAQ:TSLA), healthcare firm Soliton Inc (NASDAQ:SOLY), and pharmaceutical name Harrow Health Inc (NASDAQ:HROW). Below, we will dive into what is moving...Read More
The shares have been treading water atop their 320-day moving averageShares of cybersecurity concern Identiv Inc (NASDAQ:INVE) are higher this afternoon, after analysts at Imperial Capital initiated coverage with an "outperform" endorsement. In addition, the brokerage firm set an $8.75 price target -- representing about 75% upside from Thursday's close of $4.98, and territory INVE hasn't charted i...Read More
It may be time to buy calls on the media stockNews and publishing stock New York Times Co (NYSE:NYT) has been consolidating atop support in the $32 region since rallying to decade-plus highs in March. Specifically, the stock hit a 13-year high of $34.85 on March 18, but has since struggled to overcome this area. However, NYT just flashed a historically bullish signal, suggesting the media stock mi...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 226,361101,82578,759159,444296,627464,564477,211 Change from Prior Reporting Period 40,560-8,5655,69917,36658,19063,62555,324 Traders 18565775157267175 Small Speculators LongShortOpen Interest 53,43140,784517,995 4,33112,63267,956 non reportable positions...Read More
Bitcoin is on the move again, a venomous snake in the grass. You might expect to find a reasonable explanation for cryptocurrency's sudden, spectacular rise from the dead. Instead, you get only dim-witted speculation that institutional players are starting to warm to it again. Fidelity, for one, reportedly will be buying and selling bitcoin for institutional customers starting in a few weeks. Wh...Read More
By: Ira EpsteinGold can't get over the 18-week moving average. Concerning..Read More