To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year's December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices. At the time, it worked because everyone was desperate. Now, many O...Read More
South Africa's DRDGOLD Ltd (JSE, NYSE:DRD) will commission this Thursday the first phase of the Far West Gold Recoveries project (FWGR) in West Rand, one of the assets it exchanged with precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) early this year.The project is a large-scale, long-life surface tailings retreatment that will retreat material with a 35% higher gold content t...Read More
BRITISH COLUMBIA - The assay results are in from Spanish Mountain Gold's drilling program for the gold project of the same name 70 km northeast of Williams Lake. The selective program targeted the high grade, near surface First zone, and the results did not disappoint.Spanish Mountain says all six drill holes are indicative of additional higher grade mineralization at depths of less than 100 metre...Read More
KHARTOUM - Sudan will allow local private sector firms to export gold, Prime Minister Moataz Moussa said on Monday, relaxing the central bank's grip over exports of the metal as the government tries to shore up the country's struggling economy.The measure is part of efforts to stem smuggling of gold, one of the country's main sources of foreign currency."With the blessings of the president of the...Read More
Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, has chosen Japan's Sumitomo as partner to go ahead with a planned $4.8 billion expansion of the Quebrada Blanca copper mine in northern Chile.Sumitomo Metal Mining and Sumitomo Corporation will pay $1.2 billion to Teck for a 30% stake in the Quebrada Blanca Phase 2 project - $800 million earn-in contribution and...Read More
BRITISH COLUMBIA - Vancouver's Taseko Mining has made an all-share offer for Yellowhead Mining of Calgary that values the smaller company at $15.1 million. Taseko proposes to acquire all the issued and outstanding Yellowhead shares by issuing approximately 1.15 Taseko shares for each share of Yellowhead.Yellowhead is the owner of the Harper Creek copper-gold-silver project about 90 km from Kamloop...Read More
BELGRADE - Serbia's mining industry could expand to 5 percent of national output by 2023 if foreign investors keep commitments to plough millions of dollars into copper and lithium production, its mining minister said.The sector currently accounts for 1 percent of Serbia's gross domestic product. But since 2000, when a decade of isolation of the former Yugoslavia ended, more than 40 foreign compan...Read More
Pan American Silver (TSX:PAAS)(NASDAQ:PAAS) has been one of the better-performing precious metals miners. While most of the stocks of its peers have gone down 20% or more in the last year, its stock price has only declined about 11%.Let's explore the dynamics that drive Pan American Silver's performance.The businessPan American Silver is primarily a silver miner and is the second-largest of its ki...Read More
With the U.S. dollar weakening as expectations on the extent of interest rate hikes has moderated, we have seen gold prices rally again.In the last week, the price of gold has rallied almost 1.5%.In late 2011, gold prices peaked at close to $1,900 per ounce, then retreated steadily to levels of just over $1,000 per ounce at the end of 2015. Prices are currently at $1,230 per ounce.There are certai...Read More
Scooby Doo is an American hero.No, I'm not talking about the cartoon dog.I'm talking about the robot.You see, Scooby Doo was an iRobot PackBot.PackBots are 60-pound, treaded robots that are used for reconnaissance, surveillance, and bomb disposal. They have four cameras, an arm with a gripper, and flippers that vault them over obstacles.And Scooby Doo was one of the best.Through the course of his...Read More
NOVA SCOTIA - Vancouver-based Atlantic Gold Corp. has updated the results for its most recent resource extension drilling at its three gold projects near Halifax.At the Touquoy gold deposit, intersects were of good lengths and there were some very high grades for an open pit project. Assays included 6.25 g/t gold over 6 metres; 5.19 g/t over 5 metres; 1.65 g/t over 16 metres; 1.64 g/t over 9 metre...Read More
Victoria Gold Corp. (TSXV: VIT) has increased the tonnage, gold grade and ounces in the measured and indicated category at its Eagle deposit in the Yukon, where the Toronto-based company expects to start pouring gold in the second half of 2019.Once in production, the open-pit deposit will produce about 200,000 ounces of gold a year for more than a decade, according to a 2016 feasibility study, and...Read More
Dec 05, 2018 Guest(s): E.B. Tucker Director, Metalla Royalty & Streaming 2019 will see the start of a new bull cycle for gold and push the metal up to $1,500 an ounce, said E.B. Tucker, director of Metalla Royalty & Streaming. "To make big money in this market, you have to see the cycles. Nothing changes. We've had three big cycles in gold since 2000 and we're about to have another one," Tuc...Read More
Troilus Gold Corp. (TSX: TLG; US-OTC: CHXMF) has tripled its land position with the acquisition of 11,300 hectares to the northeast of its Troilus mine project in Quebec.Troilus is advancing its Troilus gold project immediately to the south, and has drilled more than 36,000 metres at the project this year.Last month the company updated the resource to 121.7 million measured and indicated tonnes gr...Read More
SUDBURY, Ont. - Yesterday Vale and Glencore announced that they are planning to create a joint feasibility study to explore and develop mineralization accessible from Glencore's Nickel Rim South mine.The study will include both economic and technical feasibility for using the infrastructure - shaft, underground development, surface facilities - of the Nickel Rim mine that is expected to exhaust it...Read More
QUEBEC - Mason Graphite of Montreal has updated the feasibility study for the Lac Gueret project by adding detailed economic information. Detailed engineering for the project near Baie Comeau is almost complete. Equipment has begun arriving at the site, and pre-construction work is underway.The company made no changes to the reserves, resources or project scope. Mason now puts the direct capex a...Read More
Happy hump day. The markets were closed today for a national day of mourning after former President George H.W. Bush passed away last Friday. However, that doesn't mean that Wall Street took a break. Here are some of the top stories from Wednesday, Dec. 5. No Longer the Apple of My Eye TheStreet's Annie Gaus breaks down Apple's recent (AAPL) volatility. Gaus re...Read More
After three unsuccessful attempts to go lower currency bears finally gathered enough strength to launch the attack earlier today. Thanks to their action, USD/JPY declined sharply, erasing many days of increases generated by the bulls. How low can the currency pair fall in the coming days?EUR/USD - Trading in the Triangle Earlier today, EUR/USD increased above the upper border of the blue consolida...Read More
Nickel premiums in Europe and Asia have fallen over the week ending Wednesday December 5, with the start of the seasonal end-of-year slowdowns, while the US market remained quiet. Nickel briquette premiums fell, with market participants liquidating stock before the end of the calendar year. Seasonal year-end pressure pushed nickel premiums lower in China. Premiums in the United States were unchang...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Wednesday December 5, with most of the three-month prices trading in narrow ranges while impervious to broad strength in the US dollar.Zinc's three-month price was the best performer over the afternoon, reaching an intraday high of $2,617.50 per tonne and closing at its highest price since November 16. Promp...Read More