The gold price has remained relatively stable at around US $1200 and $1400 an ounce since 2013, so why is the GDX Index, which measures the performance of the largest gold producers, currently down 70 per cent?Speaking at IMARC in Melbourne, Evolution Mining Executive Chair Jake Klein said the harsh truth for the industry is there hasn't been a sufficient return for investors."I started in the g...Read More
Northern Star Resources Executive Chairman Bill Beament has capped of a remarkable period of success for the company by being awarded the Mines and Money Legend in Mining at the International Mines and Resources Conference in Melbourne.Mr Beament joins industry luminaries such as Andrew Forrest, Robert Champion de Crespigny and Jake Klein in receiving the prestigious award, which recognises except...Read More
AMSTERDAM, Nov 1 (Reuters) - ArcelorMittal, the world's largest steelmaker, expects its financial results to improve in the coming months as global economic growth drives demand and U.S. tariffs lead to higher prices for the metal.Arcelor reported a 42 percent year-on-year increase in third-quarter core profit (EBITDA) to $2.73 billion, roughly in-line with analyst expectations, while sales rose 5...Read More
Panasonic Corp. is on the verge of turning a profit at the giant U.S. battery factory it operates with Tesla Inc., finally yielding returns for a Japanese company shelling out billions to make power cells for Elon Musk.Panasonic already makes money on batteries for the Model S and Model X, which it produces domestically, President Kazuhiro Tsuga said in an interview. It's now ramping up output at...Read More
Top global miner BHP on Thursday said it would buy back shares and pay a special dividend to return $10.4 billion to shareholders, sticking to a promise to hand back all of the proceeds from the sale of its U.S. shale business.Investors cheered the massive return and the split between a $5.2 billion off-market buyback and a $5.2 billion special dividend, sending BHP's Australian shares up as much...Read More
Japan's top aluminium rolling company UACJ Corp is removing Rusal from its suppliers list for next year due to uncertainty over U.S. sanction against the Russian aluminium producer, its president said on Thursday."Given uncertainty over (the U.S. sanctions against) Rusal, we are removing Rusal for now from the list of suppliers from which we plan to procure aluminium ingots next year," UACJ Presid...Read More
Spearmint Resources (CSE:SPMT) announced today that it has acquired the 'Hammernose' gold prospect consisting of 5,140 acres directly bordering the strategic alliance between Westhaven Resources and Sable Resource in the Spences Bridge gold belt, which is located in Southern British Columbia, Canada.According to Spearmint, Spences Bridge is a 200-kilometre-long by 30-kilometre-wide emerging low-su...Read More
JOHANNESBURG- Sibanye-Stillwater's third-quarter core profit fell 40 percent after a wave of fatal accidents hit its domestic gold mining operations this year, the South African miner said on Thursday, sending shares tumbling.South Africa has the world's deepest gold mines and an earth tremor at one of Sibanye-Stillwater's mines killed seven miners in one incident alone in May. In all, 24 of its w...Read More
Japanese trading house Sumitomo Corp. on Thursday lowered its forecast for nickel output at its Ambatovy project in Madagascar to slightly above 40,000 tonnes in the year to March 31, below its projection in May of 48,000 tonnes.Due to lower production amid bad weather and a slow ramp-up after a regular maintenance, Sumitomo now expects a loss of 13.6 billion yen ($120.47 million) from the Ambatov...Read More
From 1996 until 2010, Zone 87 at the Troilus mine in Quebec was responsible for the majority of the 2 million ounces of gold and 70,000 tonnes of copper that was produced at the open-pit mining operation.The Z87 pit ultimately ran 350 metres deep and had a strike length of about 900 metres.Now junior explorer Troilus Gold (TSXV: TLG) is trying to bring that zone and others on its property back i...Read More
Amid a lackluster gold market, Central banks' demand for gold remains robust, and overall consumer market demand is up 13%, a World Gold Council report on Q3 demand trends released today has revealed.The World Gold Council found that gold demand reached 964.3 tonnes in Q3, which was 6.2 tonnes higher year-over-year. Central bank buying reached a three year high in September, and emerging marke...Read More
Snapping up mining and mineral stocks can be a great route into investing for beginners - but with so much to choose from on the TSX index, picking a decently valued buy with enough relatively assured upside can be far from easy. One of the first things that newcomers tend to discover when they first start looking into how to invest in the stock market is that trading forums are packed with tips f...Read More
After nearly collapsing after a poorly conceived attempt at expansion, there are signs that dedicated palladium miner North American Palladium (TSX:PDL) is starting to unlock value for investors. For 2017 it recorded a record profit, and in early 2018 it launched a strategic review aimed at maximizing shareholder value. The latest results indicate that North American Palladium is delivering valu...Read More
October was a rough month for the TSX Index, and investors are now looking at the carnage and wondering which names might be setting up for a big recovery heading into 2019.Let's take a look at three market leaders that have taken a hit recently, but might be interesting picks for your TFSA portfolio today.Suncor Energy (TSX:SU)(NYSE:SU)Oil prices are moving in the opposite direction than most peo...Read More
Losing all of the 2018 gains was not a pleasant thing to face following Wednesday's close. Many traders (perhaps the dealer banks, as well) chose to treat the massive Wednesday sell-off as an opportunity to buy at a huge discount. Therefore, buyers outnumbered sellers on Thursday, slightly pushing the indexes back into the black for 2018.Friday trading started with another steep drop as we prepare...Read More
Yesterday's $22 gain was significant for a multitude of reasons. First, it was the most significant single-day gain since October 11, when gold traded from just under $1,200 ($1,198) and closed a respectable $30 higher, finally settling at approximately $1,227.80 per ounce. The significance of that gain was that gold pricing finally broke above multiple key levels of resistance. The first level go...Read More
Regulus Resources' (TSXV: REG) spin-out Aldebaran Resources (TSXV: ALDE) debuted on the Toronto Venture Exchange at $0.90 before tumbling to $0.59 in mid-afternoon trading.The company shares the same core management team as Regulus Resources and is focused on projects in Argentina.The recently formed junior explorer's primary focus will be the Altar copper-gold project, a large porphyry system i...Read More
(Kitco News) - Analysts are focusing on next week’s midterm elections in the U.S. and the Federal Reserve’s monetary policy meeting as gold tries to hold significant support above the $1,230 an ounce level.While the majority of analysts interviewed by Kitco remained bullish on gold price next week, many experts talked about uncertainty in the air due to Tuesday’s midterm election...Read More
Canada Cobalt Works (TSXV: CCW) (OTC: CCWOF) announced today that underground drilling on the first level of the northern Ontario Castle mine, specifically targeting cobalt for the first time at this historic silver producer, has returned high-grade cobalt, nickel and silver grades.Highlights: "These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Cast...Read More
A century after many of Chile's mines in the arid northern region were first opened, finding copper, or lithium, or gold or silver isn't as easy as it once was. The concentration of minerals in the earth decreases as the miners dig deeper, meaning companies need to process more ore to extract the same amount of metal - a messy and highly polluting process to begin with. To fuel that effort, they...Read More