Nov 29 (Reuters) - Lonmin Plc, which is being bought by Sibanye-Stillwater, reported its first annual operating profit in four years as cost cuts by the platinum miner paid off.Lonmin also said on Thursday it expects Sibanye's deal to close early next year, but cautioned that some uncertainty still exists over its completion, which is subject to certain conditions.Lonmin shares rose as much as 9.3...Read More
Australian rare earths miner Lynas Corp (ASX: LYC) plans a short-term production shut down in December at its Lynas Advanced Materials Plant (LAMP) in Malaysia, once its annual production quota is met ahead of time at the end of November, Roskill reported today.Reaching the annual production limit is due to the Lynas NEXT program, which increased neodymium and praseodymium (NdPr) production from 5...Read More
* Japan's Mitsubishi Materials on Thursday said that its Indonesia copper smelting unit, PT Smelting, has declared force majeure on deliveries of products to some customers as maintenance at its plant in the country had been extended.* The smelter on Oct. 31 went into maintenance that was scheduled for about 30 days, but that has been extended due to a lack of oxygen supply from a neighboring oxyg...Read More
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
Vancouver-based SilverCrest Metals (TSXV: SIL) today announced that SSR Mining has agreed to purchase 8,220,645 common shares of the Company at a price of $3.73 per share for a total investment of $30.6 million in a non-brokered private placement financing.SSR will own 9.9% of the outstanding common shares of SilverCrest on a non-diluted basis. The private placement is expected to close on or ab...Read More
Superior Gold (TSXV: SGI; US-OTC: SUPGF) recently announced results from a phase two reverse circulation drill program at its Hermes South gold project in Western Australia. The company is trying to expand the existing resource at Hermes South and determine if it could become another open pit mine.Highlights from the program include 3 grams gold over 16 metres from 137 metres downhole, 4.4 grams...Read More
I continue to receive questions regarding the direction of the market, to which I can only reply "I don't know." I certainly have thoughts about the factors affecting metals markets, but am not under the illusion that I KNOW where the market is headed.What I do know is that my money is best invested, in tranches, in the best companies in the sector. The best companies are led by the best managemen...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD INCREASES FOSTERVILLE MINE'S 2018 PRODUCTION OUTLOOK TO OVER 330,000 OUNCESKirkland Lake Gold Ltd.'s Fosterville mine is on track for record quarterly production in the fourth quarter of 2018, with full-year 2018 production now expected to exceed 330,000 ounces versus current guidance of 300,000 to 310,000 ounces. Fosterville's strong fourth quarter 201...Read More
November 30, 2018GOLD:Short Term Update:What a day! This is incredible! We called it with our wave counts, and now it's really happening as the Fed may have just blinked!Within wave .iii. we are now working on our first impulsive sequence, as shown on our "Daily Gold Chart".Within that first impulsive sequence we believe that we are working on a subdividing wave $iii$. Within wave $iii$, wav...Read More
The stocks of Franco-Nevada (TSX:FNV)(NYSE:FNV) and Wheaton Precious Metals (TSX:WPM)(NYSE:WPM) both experienced lows on September 11. However, Franco-Nevada stock has fared much better by appreciating about 16% while Wheaton Precious Metals stock is only trading about 2% higher since then.The two companies are in a similar line of business. Why is there a big difference in their recent price acti...Read More
There is growing conjecture that now is the time for investors to bolster their exposure to gold. The yellow metal has again rebounded, rising to just over US$1,220 per ounce as fears of a market correction and slower than expected economic growth coupled with rising geopolitical risk have spooked investors. While they typically think of senior miners like Barrick Gold Corp. and Goldcorp Inc. when...Read More
Mr. David Wolfin reportsAVINO ANNOUNCES FURTHER EXTENSION OF CONCENTRATES PREPAYMENT AGREEMENT WITH SAMSUNG C&TAvino Silver & Gold Mines Ltd.'s concentrates prepayment agreement with Samsung C&T U.K. Ltd., originally announced on July 9, 2015, as amended, has been further extended for repayment of the balance of the principal amount of $6,666,670 (U.S.) to Samsung over a two-year perio...Read More
Satellite image taken 1991 (left) and 2018 (January) show SQM and Albemarle solar evaporation ponds in Atacama, Chile. Source: Landsat 8 via United States Geological SurveyDiminishing fears of a flood of new supply from South America halts lithium price slide, but industry is shifting rapidly to hard rock miningOne of the most read articles on MINING.com in 2018 is headlined: This is the only char...Read More
2018 was a great year for tech stocks... until it wasn't.The Nasdaq 100 was up nearly 20% for the year. Now it is down 5%.The big-name stocks all climbed, then spectacularly imploded.Facebook share prices were dumped overnight in July and shares are down about 25% for the year.Apple is basically back to where it started the year. Same with Google.Amazon is still up over 30%, but that's a far cry f...Read More
Canadian savers are constantly searching for reliable stocks to add to their RRSP portfolios.For much of 2018, the market appeared expensive, but the recent correction is finally giving buy-and-hold investors an opportunity to pick up some top names on the TSX Index at attractive prices.Let's take a look at Suncor (TSX:SU) (NYSE:SU) and Nutrien (TSX:NTR) (NYSE:NTR) to see if one deserves to be on...Read More
Excelsior Mining (TSX: MIN) (OTCQX: EXMGF) has closed a $75 million project financing package with Triple Flag Mining Finance Bermuda for $65 million copper metal stream and $10 million private placement of common shares of Excelsior.With the financing, Excelsior will start construction activities at the Arizona Gunnison copper project before the end of the year, the company announced in a press r...Read More
Mr. Steve Fray reportsGOLDMONEY INC. INVESTEE MENE RAISES EQUITY & GOLD-SECURED NOTE FINANCINGGoldmoney Inc. investee company Mene Inc. has entered into agreements to raise $30-million in equity and gold-secured note financing from Canaccord Genuity Corp. and a private institutional investor, with potential for additional gross financings of over $100-million including potential warrant exerci...Read More
This year has been a very difficult time for silver investors and miners. The white metal has fallen by over 16% since the start of 2018 to be trading at around US$14.60 per ounce, and there are signs that a recovery is a long way off.Nonetheless, this shouldn't deter investors from acquiring primary silver miner Pan American Silver Corp. (TSX:PAAS)(NASDAQ:PAAS). Recent developments indicate that...Read More
Kirkland Lake Gold (TSX, NYSE:KL; ASX:KLA) announced that its Fosterville Mine is expected to break its own record quarterly production in the fourth quarter of 2018. Full-year production is now forecasted at 330,000 ounces. Previously reported guidance was established at 300,000-310,000 ounces.In a press release, Kirkland Lake Gold said Fosterville's strong Q4 2018 performance reflects higher tha...Read More
Despite its best efforts, the "most likely scenario" is that mining operations will cease in Flin Flon, Manitoba in 2021, an internal memo to employees at Hudbay Minerals (TSX: HBM; NYSE: HBM) reads.While the company has been successful over the last few years in extending the life of its 777 mine from 2019 to 2021, the memo noted, its efforts to find new sources of ore from 777, "did not turn out...Read More