A bulk sampling and test mining exercise at Rubicon Minerals (TSX: RMX; US-OTC: RBYCF) Phoenix gold project has yielded positive reconciliation results that validate the 2018 mineral resource estimate as well as the new geological model and structural interpretation of the F2 deposit, the company says.Over the summer and fall, Rubicon extracted material from three test stopes in the upper areas...Read More
BRITISH COLUMBIA - Dunnedin Ventures of Vancouver is spreading its wings. Earlier this week, the company updated readers on its exploration program at the Kahuna kimberlite. Now the company announced that it has acquired a 100% interest in a copper-gold porphyry property near Princeton.Dunnedin acquired the new property from private vendor who will receive $100,00 and 1.8 million Dunnedin shares...Read More
UK-based Altus Strategies (AIM: ALS, TSX-V: ALTS) announced the discovery of what the company calls "the Simret silver prospect" at its 100%-owned Daro project, located in the Tigray Regional State of northern Ethiopia.In a media statement, the project generator said that Simret showed silver grades that include 944 g/t Ag and 540 g/t Ag, which were taken from rock chip sampling of quartz veins. L...Read More
Fastmarkets proposes to refine the specifications for three pig-iron price assessments in the United States and Brazil to reflect existing market conditions.Fastmarkets invites market participants to take part in a market consultation to refine the specifications of the three prices below. Fastmarkets has added the chemical compositions into the specifications to specify the phosphorous content of...Read More
Turkish billet prices have continued to fall this week, amid sluggish demand and a downturn in Asian steel prices, sources said on Thursday November 29.Suppliers in the CIS region have already reduced their billet offers to Turkey to $460-465 per tonne cfr, but demand in the country was very weak...Read More
Steel billet import prices in Egypt have fallen by $20-25 per tonne over the past week amid poor demand and reduced offer prices, although domestic rebar prices were unchanged, sources said on Thursday November 29.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-460 per tonne cfr on Thursday, down from $475-480 per tonne cfr last week.Billet producers in the Commo...Read More
This is of course just the first step in a long dance that will progress through:1)The end of rate increases sometime in early 20192)The beginning of rate cuts soon thereafterContinue...Read More
The mineralization at this explorer's project in British Columbia remains open in two directions. Golden Ridge Resources Ltd. (GLDN:TSX.V) announced in a news release that the remaining drill holes on its Hank project confirm a significant copper-gold porphyry discovery in the Williams zone. Several 2018 drill holes ended in mineralization, leaving the system open at depth and laterally.As for h...Read More
A mineral exploration company is making progress in the Americas with an experienced management team and prospective properties focused on discovery. Aztec Cervantes ProjectAztec Minerals Inc. (AZT:TSX.V; AZZTF:OTCQB), a Vancouver-based mineral exploration company focused on new discoveries in the Americas, is moving forward with two prospective projects. Aztec Minerals is a relatively newly list...Read More
China's domestic rebar prices moved up further on Thursday November 29 following higher billet prices. Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($549-553) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,530-3,560 yuan per tonne, up 40 yuan per tonneRe-rolling mills raised procurement rates for billet when prices were at 3,040-3,050 yuan per tonne in the past couple of days, w...Read More
European alloy surcharges for stainless steel products for December have decreased for the fifth consecutive month, pulled down by lower nickel prices in addition to weak market conditions amid competition with Asian imports.The December alloy surcharge for 2mm grade-304 cold-rolled (CR) stainless steel sheets - based on data published by producers Outokumpu, Aperam and Acerinox - is ?,?1,321-1,36...Read More
The European molybdenum-oxide market has climbed 20 cents in trading by mid-week, with deals and offer prices reported above $12 per lb and returning to a level unseen since the start of November.Some oxide trading, however, has been in South Korea where major steelmaker Posco settled a tender for around 100 tonnes of oxide last week at about $12-12.10 per lb. The company is due to settle another...Read More
China's ferrous futures retreated during the morning trading session on Thursday November 29 after a short-lived recovery a day earlier. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,594 yuan ($517) per tonne, down 62 yuan per tonneJanuary hot-rolled coil: 3,434 yuan per tonne, down 31 yuan per tonneDalian Commodity Exchange January iron ore: 474.50 yuan per t...Read More
CloseGain/LossGold $1223.90+$3.70Silver$14.30-$0.01XAU64.80-1.11%HUI146.40-1.00%GDM534.77-0.25%JSE Gold1124.07+16.97USD96.78-0.05Euro113.89+0.18Yen88.30+0.17Oil$51.45+$1.1610-Year3.029%-0.032T-Bond140.21875+0.28125Dow25338.84-0.11%Nasdaq7273.08-0.25%S&P2737.80-0.22% The Metals: Gold gained $8.70 to $1228.90 by late morning in New York before it drifted lower in afternoon...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
- Brexit no-deal would lead to "worst crash since 1930s"- Gold rose 0.6% in dollars and 1.2% in pounds today- UK economy could contract by 8%, house prices fall 30%, sterling fall 25% warns Bank of England- Sterling collapse would push Irish economy into recession- Carney's doomsday scenario sees the crippling of UK finances, the pound crashing and inflation soaring- BOE accused of "Project Fe...Read More
Gold and silver have just have formed a short term bottom after comments from the Federal Reserve chairman that interest rates are "just below" neutral range. This implies that the pace of interest rate hikes (after December) will be slower next year. This is just the catalyst needed for gold and silver bulls. The US dollar index should form a long term top over the next two weeks. Physical dema...Read More
Powell spoke yesterday. The gold market considered his remarks as dovish. And the market is always right, isn’t it?Just Below NeutralOn Wednesday, Powell delivered a speech “The Federal Reserve’s Framework for Monitoring Financial Stability” at The Economic Club of New York. The majority of analysts judged the speech as dovish. Why? The key reason was Powell’s view th...Read More
Oil prices reversed early losses on reports of Russian output cutsThe Dow traded in a range of more than 275 points on both sides of breakeven, before ultimately settling lower. The blue-chip barometer and its index peers kicked off the session in the red,amid reports thatWhite House advisor and China hawk Peter Navarro would be in attendance during the much-anticipated trade talks between Preside...Read More
The shares are headed for their fifth straight monthly winSubscribers to our Weekend Trader service recently doubled their money with the Walgreens Boots Alliance Inc (NASDAQ:WBA) January 2019 72.50-strike call. We'll take a closer look at what initially put WBA stock on our bullish radar, and how the winning options trade unfolded.When we entered the position on Monday, Oct. 29, the Dow stock had...Read More