Jordan Roy-Byrne, Founder of The Daily Gold joins me today to share his thoughts on the strategy of holding cash and deciding when to start buying. During tax loss selling there are a number of people who say it is a great time to start buying. However there are many factors to consider and right now holding cash is a preferable position to be in. We also dive into the silver chart.Jordan Roy-Byrn...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
Vancouver-based Goldcorp has poured the first gold at its Penasquito's Pyrite Leach project (PLP) in Zacatecas. Commissioning of the plant began in Q3 2018, and it is now treating existing tailings around the clock."PLP was a major investment decision for Goldcorp and one of the first that went through our Goldcorp investment framework." said David Garofalo, president and CEO of Goldcorp. "We ar...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
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