An Australian man has unearthed a three pound gold nugget with a metal detector while walking aroundContinue...Read More
Toronto-based Wallbridge Mining Company must be pleased with the recent drill results at its Fenelon gold project, 75 km northwest of Matagami. Several new holes have cut wide zones of mineralization with intervals of visible gold extending Area 51 by 250 metres to the northwest.The results indicate the presence of stockwork-style gold mineralization with focused high grade veins and shear zones o...Read More
The import price for steel billet in the United Arab Emirates has widened upward in new deals over the past week, but the price of rebar has decreased, sources told Fastmarkets on Tuesday May 21.Domestic rebarLocal demand was weak in the country because of the Islamic holy month of Ramadan, which started earlier in May, and the expectation that prices could fall further.The observance of Ramadan i...Read More
ATAC Resources of Vancouver is starting the first phase of exploration at its Rau project, at the western edge of the Rackla gold property 55 km northeast of Keno City. The current program will follow up on high grade gold-copper-silver results from last year.Phase one at Rau includes ground based induced polarization (IP) and magnetic surveys over a 12 km2 area including the Bobcat target and the...Read More
Vancouver-based Osprey Gold Development is planning to drill three of its five historic gold properties in Nova Scotia. The company can acquire a 100% interest in all five of the properties.The Goldenville project in Guysborough County is Osprey's most advanced project and the province's largest historic gold producer. The project hosts inferred resources of 2.8 million tonnes at 3.20 g/t gold or...Read More
China's domestic rebar prices moved up on Tuesday May 21 following futures gains, but demand was far from strong. Domestic Eastern China (Shanghai): 4,040-4,080 yuan ($584-590) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,950-4,000 yuan per tonne, narrowed up 10 yuan per tonneRebar futures increased steadily during the course of the day, leading to bullish sentiment am...Read More
Fresnillo said on Tuesday the current year would be more challenging than 2018 as a number of industry variables were "working against" the precious metals miner.The company, which posted a 15 percent drop in first-quarter silver production last month, said it was "disappointed" not to meet its long-term silver output target and that it was taking action to address this "in a number of ways".Fresn...Read More
Scientists at Northwestern University have experimentally replicated a medieval gold purification method employed by West Africans in the 10th and 11th centuries.The researchers followed a technique initially described in a 2014 paper by archaeologist Sam Nixon, in consultation with Thilo Rehren, a specialist on ancient materials and technologies. Their description of the method was based on a ser...Read More
Canada's Pure Gold Mining (TSX-V: PGM) has begun trading on the main market of the London Stock Exchange under the ticker PUR, in a move aimed at lifting the company's international profile ahead of its transition to producer from developer.The Vancouver-based miner, which is advancing a high-grade gold project in Ontario, believes a dual listing will give it access to a much broader pool of inte...Read More
Under the leadership of a new CEO, this miner expects to start producing gold in 2020. Kerr's Copperstone projectLocated in the fault- and gold-riddled desert lands between Phoenix and Death Valley, Kerr Mines Inc.'s (KER:TSX; KERMF:OTC; 7AZ1:FRA) Copperstone Mine is gearing up to recommence production in 2020, stated newly appointed CEO Giulio T. Bonifacio. Because it is blessed with existing in...Read More
Fastmarkets MB is proposing to discontinue the stainless steel 304 Europe raw materials index. Fastmarkets is seeking feedback on its proposal to discontinue the EU domestic stainless steel 304 Europe raw materials index.This index, which aims to represent the costs of the raw materials needed to produce grade-304 stainless steel, is updated weekly on a $ per tonne basis. The consultation per...Read More
The recent downtrend in Chinese domestic ferro-silicon prices continued in the week ended Friday May 17 amid an abundance of the material, while sentiment remained bearish due to weak demand from the country's steel and magnesium markets. Chinese market extends losses amid ample supply. Sluggish demand compounds weakness in China. European market steady, further cements price floor. US market flat...Read More
Stainless steel mills and ferro-chrome smelters in China are likely to curtail their production in June, should domestic stainless steel and ferro-chrome prices continue to weaken amid lingering poor demand and prevailing bearish sentiment, sources told Fastmarkets. Some Chinese stainless steel mills, which are already suffering losses, may have to curtail part of their production next month if do...Read More
Tech stocks enjoyed a big rebound today The Dow enjoyed a reboundtoday, with the index ending on a roughly 200-point gain, sparked in large part by the U.S.'s decision to temporarily ease restrictions on China's Huawei. The tech-rich Nasdaq finished higher as well, as the Huawei news helped boost chip stocks. Elsewhere, blue-chip concern Boeing (BA) helped boost the Dow amid reports that a bird st...Read More
IWM outperforms in June, but QQQ is flawless in July over the last decadeAmong the major U.S. equity-based exchange-traded funds (ETFs), 2019 has largely been a battle for dominance between small-caps and tech. In January, small-caps jumped out to a big lead, as the iShares Russell 2000 ETF (IWM) began racking up outsized gains relative to the benchmark SPDR S&P 500 ETF (SPY). That small-cap domin...Read More
The FDA approved Sesen's request to move manufacturing for its bladder cancer drugU.S. markets are moving higher today, tech recovering from yesterday's sell-off. Three pharmaceutical namesalso making notable moves this afternoon are Array Biopharma Inc (NASDAQ:ARRY), Sesen Bio Inc (NASDAQ:SESN), and Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR). Below, we will dive into what is moving the shares...Read More
The firm took a 12% stake in the companyUSA Technologies, Inc. (NASDAQ:USAT) stock is trading up 13% at $6.67, after hedge fund Hudson Executive Capital reported a 12% stake in the vending services provider, calling it an "attractive investment." In response, USAT options volume is soaring.By the numbers, more than 1,600 calls have traded, well above the daily average, and puts are crossing at 13...Read More
KR stock is set to snap its longest losing streak since DecemberBernstein upgraded Kroger Co (NYSE:KR) to "outperform" from "market perform," and boosted its price target to $33 -- a more than 37% premium to last night's close. The brokerage firm said Wall Street is not pricing in "KR's capacity to survive the short term and positioning for the long term," and it considers the grocery chain "a ser...Read More
Thelast few trading days in gold were quite interesting, but overall gold has beena quite boring market in the last couple of months. Gold’s volatility indexdropped to new lows as the current back and forth movement is just a small partof the same kind of movement on a broader scale. It’s more of the same. Andwhen gold’svolatility gets very low, interesting things tend to happen...Read More
Calls have been popular on the cannabis name in recent weeksCall volume is running hot on Aurora Cannabis Inc (NYSE:ACB) this afternoon, as the weed stock trades up 2.2% at $8.68 -- aiming for its first win in three sessions. At last check, nearly 29,000 ACB call options were on the tape, 1.5 times what's typically seen at this point and 11 times the number of puts traded. Most active by a mile is...Read More