Image by Adam Fagen By Joe DeauxForget frankincense or myrrh - chaos in global markets makes gold the holiday asset hedge funds are getting behind.Money managers are the most bullish they've been on bullion in half a year amid a multitude of threats that could slow economic growth and deepen the plunge for equities.As financial anxieties heighten, investors have poured about $1.56 billion into exc...Read More
Gold broke above the $1250 supply level on Wednesday ahead of the Fed's interest rate rise this week but was then sold down on the Continue...Read More
B.C.'s mining industry is an essential part of the economic and social foundation of the province. A vibrant, competitive, growing industry provides benefits to British Columbians in all corners of the province.However, the rapid pace of change seen both in industry and in broader society requires bold and innovative solutions to ensure that the B.C. mining sector is fiscally competitive with juri...Read More
If a gold mine was a hockey team, the forwards would be production, piling up ounces like goals on a scoreboard. The costs per ounce are like defencemen: solid, predictable, hardworking but rarely getting the glory. While production numbers usually drive the share prices of mining companies, it's cost control that keeps the company in the game with positive earnings.Neglect to control your costs,...Read More
The Turkish scrap import market remained quiet at the beginning of the week, with the mills' bids still below offers, sources said on Monday December 24.European origin HMS 1&2 (80:20) has been offered at $290 per tonne cfr to Turkey, while the Baltic Sea suppliers were offering the same material at $295 per tonne.Yet, mills in Turkey were still bidding around $275-280 per tonne cfr for...Read More
Anglo American has raised the 2019 production guidance for its Minas Rio operations in Brazil to 18-20 million wet metric tonnes of iron ore.The production guidance has increased due to the regulatory approval related to the Step-3 license area, which allows the company more flexibility in its operations and access to higher...Read More
Sector expert Adrian Day examines the feasibility study for this company's Mexico-based project. In this bulletin, we look at the recently released feasibility study on Almaden Minerals Ltd.'s (AMM:TSX; AAU:NYSE) Ixtaca project. Separately, our somewhat aggressive sell limit for Nevsun Resources Ltd. (NSU:TSX; NSU:NYSE.MKT) has not been hit, so we will publish another bulletin specifically on thi...Read More
The Critical Investor profiles a prospect generator that has decided to explore its flagship project itself. Alvalade project1. IntroductionAs Avrupa Minerals Ltd. (AVU:TSX.V; AVPMF:OTC: 8AM:FSE) was experiencing delays in finalizing its option agreement on its Portuguese projects with a major copper producer, time was running out on one of its most important claims. A certain amount of explorati...Read More
A Raymond James report relayed how this royalty and streaming firm intends to use the proceeds. In a Dec. 19 research note, analyst Brian MacArthur reported that Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) received about CA$159.4 million, or US$118.5 million, from Pretium Resources Inc. (PVG:TSX; PVG:NYSE) from its repurchase of Osisko's interest in the Brucejack mine's gold-silver stream. Follo...Read More
Turkey produced 3.10 million tonnes of crude steel in November 2018, a 2.1% decrease compared with November 2017, according to the Turkish Steel Producers Association (T???oeD).In January-November 2018, crude steel production in the country was 34,429,000 tonnes, a 0.51% year-on-year rise compared with 34,256,000 tonnes produced in January-November 2017, T???oeD said last week.The country produced...Read More
The growth of demand has been the key factor influencing the positive trend in the global steel market in recent years, Fastmarkets research manager Alistair Ramsay said earlier this month at the 22nd Middle East Iron and Steel Conference in Dubai.Over the past decade global steel consumption increased by total of 35%, growing by around 3% annually. In 2018, global consumption is expected to rise...Read More
China's domestic rebar prices were mixed on Monday December 24, with prices in the east of the country down amid lower futures and billet prices, but those in the north flat Domestic Eastern China (Shanghai): 3,780-3,820 yuan ($547-553) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,620-3,650 yuan per tonne, unchangedBillet prices dropped over the past weekend due to weak...Read More
Trump again attacked the Fed on Twitter today as stock losses deepenedFresh off its worst week in 10 years, there was no Santa Claus rally for the Dow on Christmas Eve. The blue-chip indexbreached the 22,000 level for the first time since September 2017 during today's abbreviated, low-volume session, while the S&P narrowly avoided a close in bear-market territory. Amid fresh turmoil sparked by T...Read More
Tesla short sellers have been hitting the exits latelyThe shares of Tesla Inc (NASDAQ:TSLA) are down 2.6% in electronic trading today, after it was reported the company had cut the price of its Model 3 vehicle in China. This is the third time in the past two months Tesla has reduced the price of the vehicle. Tesla stock started December off strong in the wake of a big bull note. Last week, howev...Read More
The shares have shed roughly 35% in the fourth quarterThe shares of Guangzhou-based broadcasting name HUYA Inc (NYSE:HUYA) hit a record low of $14.44 on Dec. 7, after the arrest of a top Huawei exec sparked a sell-off in Chinese stocks. A short-lived bounce was quickly contained by the equity's descending 40-day moving average, and previous such signals have marked good selling opportunities on th...Read More
Vertex Pharmaceuticals revealed it has taken a stake in CRSPCrispr Therapeutics AG (NASDAQ:CRSP) is trading up 9.9% at $24.98 today, after it was revealed Friday evening that cystic fibrosis specialist Vertex Pharmaceuticals (VRTX) took a 10.1% stake in the gene editing company. On Friday, CRSP stock touched a nearly 52-week low of $22.22, as it's struggled mightily in the second half of the year....Read More
The FDA just approved of Acorda's new Parkinson's drug, INBRIJA Acorda Therapeutics (NASDAQ:ACOR) shares are up 5% at $13.59 today, lifted by Friday's late-breaking news that the Food and Drug Administration (FDA) approved its new Parkinson's drug. The inhalable treatment, INBRIJA, is expected out during the first quarter of 2019. Today's rally for ACOR is pulling it out of the gutter -- the stock...Read More
The shares have pulled back to a trendline that's previously marked attractive entry pointsThe shares of Etsy Inc (NASDAQ:ETSY) gapped nearly 24% higher the session after the e-tailer's blowout earnings report in early November, eventually topping out at a record high of $58.30 on Dec. 4. The security has since pulled back amid broad-market headwinds, but is now trading near a trendline with histo...Read More
Please note: US markets are closed tomorrow for Christmas. CloseGain/LossGold $1269.00+$13.50Silver$14.77+$0.15XAU70.55+2.74%HUI161.79+3.40%GDM586.16+2.58%JSE Gold1359.59+42.78USD96.49-0.54Euro114.21+0.58Yen90.68+0.66Oil$42.53-$3.0610-Year2.734%-0.049T-Bond145.40625+0.59375Dow21792.20-2.91%Nasdaq6192.92-2.21%S&P2351.10-2.71% The Metals: Gold gained nearly $10 in Asia before it halved its...Read More
MERRY CHRISTMASThe US government shut down (if any) should be bullish for gold once again. I repeat, other than economics all other factors are ripe for 2019 to be a "gold en" year. There is speculation that Trump may replace the Federal Reserve chief Jeremy Powell. The US dollar will lose its so called safe haven status if there is such a move. The euro and pound and even the Chinese have som...Read More