Just when it looked like gold futures - which still, unfortunately, dictate the price of physical precious metals - were ready to turn bullish, last week's commitment Continue...Read More
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday.In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25...Read More
Tanzania's mining minister said on Monday Acacia Mining had been fined 5.6 billion Tanzanian shillings ($2.4 million) for alleged pollution at its North Mara mine.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.It was forced to cut output by a third after the government banned the export of mineral concentrates from its two other mines, Bulyanhulu a...Read More
The German federal government is planning to invest "billions of euros" to improve inland waterway transport in a move welcomed by German steel federation WV Stahl."It is a real step [forward] for the federal government to focus on strengthening inland waterway vessel transport," WV Stahl president Hans J? 1/4 rgen Kerkhoff said on Monday May 20, noting that around one-fifth of the transport volum...Read More
This is a follow-up campaign to last year's discovery of a high-grade copper-gold porphyry system there. GT Gold Corp. (GTT:TSX.V) announced in a news release the plan for its 2019 drill program's first phase at its flagship Tatogga project in British Columbia's Golden Triangle.The overall goal of this year's program is to advance Saddle North, a potentially large, high-grade copper-gold porphyry...Read More
The Canadian company will drill a previously identified Carlin-style target on the property. Ethos Gold Corp. (ECC:TSX.V; ETHOF:OTCQX) announced in a news release it entered an agreement to earn into Victory Metals Ltd.'s Iron Point vanadium project in Nevada in exchange for drilling there. Ethos also announced that Dr. Quinton Hennigh, an economic geologist with more than 25 years of exploration...Read More
Technical analyst Clive Maund charts silver and finds that it looks "considerably weaker than gold." Silver looks considerably weaker than gold, although that is normal at this stage in the cycle. It is still considered likely that it is forming a Double Bottom with its lows of late 2015, and if so then the support at those lows should hold. On silver's 1-year chart it still looks like it is mov...Read More
The company's Q1/19 numbers and the impact of its latest acquisition are discussed in a ROTH Capital Partners note. In a May 16 research note, analyst Jake Sekelsky reported that ROTH Capital Partners raised its target price on Great Panther Mining Ltd. (GPR:TSX; GPL:NYSE.American) to US$2.25 per share from US$1.80 (versus about US$0.70 today) after incorporating the Tucano mine acquisition and a...Read More
Technical analyst Clive Maund charts gold and explains why he believes gold will turn higher later in the summer. Gold and silver dropping back again late last week had investors in the precious metals sector feeling despondent, especially as their fears were magnified by at least one analyst calling for gold to drop to the low $900s or even lower, which is normal when prices sink, but our charts...Read More
European distributors of flat steel products reported a 4.5% year-on-year drop in shipment volumes in the first quarter of 2019, Eurometal said on Monday May 20."Shipments continued their negative trend of late last year and this was accompanied by rising stocks," the regional federation for steel, tube and metals distribution and trade said.European steelmakers such as Germany's ThyssenKrupp have...Read More
Turkish domestic scrap prices have gone down amid stronger supply and softer demand over the past week, sources said on Monday May 20.Three steel mills reduced their buy prices for local shipbreaking scrap to $292 per tonne, while a fourth cut its price to $290 per tonne delivered.As a result, Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking fell to $290-29...Read More
Aluminium's three-month price on the London Metal Exchange dropped by nearly 2% at the close of trading on Monday May 20, falling below its nearby $1,800 per tonne support level on the news that Norsk Hydro's Alunorte alumina refinery in Brazil has been allowed to resume full operations. Brazilian authorities ended the final production embargo on the facility earlier this afternoon and Alunor...Read More
Norsk Hydro's Alunorte alumina refinery will ramp up to full production capacity after the federal court in Belem, Brazil, ended the final production embargo on the facility under the criminal lawsuit on Monday May 20. The court removed a production embargo under a civil lawsuit on Wednesday May 15, as Fastmarkets reported last week. The refinery has been running at 50% capacity since March 2...Read More
The market for flat steel products in Russia's Central Federal District around Moscow was stable at the start of this week, with price movement depending on trends in the export market, sources told Fastmarkets on Monday May 20.Fastmarkets' weekly price assessment for Russia-origin 4mm hot-rolled (HR) sheet was unchanged on May 20 at 43,000-44,500 roubles ($664-687) per tonne cpt Moscow, including...Read More
Google was among the U.S. companies to cut ties with HuaweiThe Dow continued its journey lower today, as tech stocks sold off. Of note, several chipmakers took a beating, as Google parent Alphabet (GOOGL) and a handful of U.S. semiconductor makers cut ties with Huawei, following President Donald Trump's recent blacklist of the Chinese firm. This, as hopes for a trade deal between the U.S. and Chin...Read More
Here are five Fastmarkets MB stories you might have missed on Monday May 20 that are worth another look.Massive amounts of scrap metal are being held at Malaysian ports for unprecedented inspections and multiple copper cargoes still at sea are being diverted to other Asian countries at big discounts, sources told Fastmarkets. The German federal government is planning to invest "billions of eu...Read More
FCC Chair Pai threw support behind a Sprint-T-Mobile mergerSprint Corp (NYSE:S) is having a breakout session, with the telecom stock last seen trading up 22.2% at $7.53 -- fresh off a 19-month high of $7.90. Sparking the bull gap is news Federal Communications Commission (FCC) Chief Ajit Pai threw support behind a Sprint-T-Mobile (TMUS) merger, in part due to the telecommunications giants' plans t...Read More
One equity is set for its worst day ever on a Huawei-related downgradeTechnology and chip stocks are suffering a steep sell-off this afternoon, sending markets deep into the red. Three namesalso making noise today are electronics name Keysight Technologies Inc (NYSE:KEYS), car manufacturer Ford Motor Company (NYSE:F), and video game retailer GameStop Corp (NYSE:GME). Below, we will dive into what...Read More
Speculators have been betting bearishly ahead of the retailer's reportA slew of retailers are slated to report earnings this week, with department store Nordstrom, Inc. (NYSE:JWN) on deck to report after the close tomorrow. Ahead of the event, Barron's called JWN stock a "bargain," but it looks like recent options buyers are expecting more downside for the beat-up shares.Nordstrom stock was last s...Read More
“Modern Monetary Theory (MMT) is a heterodox macroeconomic framework that says monetarily sovereign countries like the U.S., U.K., Japan and Canada are not operationally constrained by revenues when it comes to federal government spending. In other words, such governments do not need taxes or borrowing for spending since they can print as much as they need and are the monopoly issuers of the...Read More