SOUTH AFRICA - The strike by National Union of Mineworkers (NUM) members that began on Nov. 2 continues at the South Deep gold mine. About 150 to 200 union members blockaded the entrances to the mine.The job action began when owner Gold Fields announced its plan to retrench staff on Aug. 14. The plan was to cut 1,560 employee and contractor jobs at the mine. By the company's reckoning, the proje...Read More
(Kitco News) - From all the precious and base metals, gold has the most to gain if equities see further losses, said Bloomberg Intelligence (BI), which is not ruling out the $1,400 an ounce level for gold.“Gold has the most upside if equities continue to decline, particularly if U.S. stocks give back more vs. the world. In this scenario, the dollar should decline and metals and broad commodi...Read More
Less than a month after Northern Vertex Mining Corp. signed a US$8.5 million silver stream financing with Maverix Metals, the company has reached a deal with existing shareholder Greenstone Resources for an unsecured working capital facility of up to US$10 million.The mine is expected to produce an average of over 50,000 gold-equivalent ounces a year over the first four years of a ten-year mine li...Read More
Michael Sheetz| @thesheetztweetz Published 10 Hours AgoUpdated9 Hours AgoCNBC.com show chapters ISM non-manufacturing index at 62.5 vs. 59.5 estimate 10 Hours Ago |00:41 U.S. services expanded in October more than anticipated as economic growth remained hot, according to a report Monday.The ISM non-manufacturing index registered 60.3 percent in October, above the 59.3 expected...Read More
Regional, Rook ISASKATCHEWAN - Vancouver-based NexGen Energy, Wood Group and Rosco Postle Associates have completed the pre-feasibility study for NexGen's Rook I project in the Athabasca Basin. New numbers include a 64% increase in average annual after tax cash flow and a 43% increase in indicated resources compared to the 2017 preliminary economic assessment.The PFS looks at mining the Arrow uran...Read More
Mr. Vishal Gupta reports CALIFORNIA GOLD ANNOUNCES NEW HIGH-GRADE ASSAYS FROM QUEEN SPECIMEN ZONE - INTERSECTS 27.64 G/T AU ACROSS 1.2M, INCLUDED WITHIN 10.64 G/T OVER 3.4M AND 3.27 G/T AU ACROSS 10.1MCalifornia Gold Mining Inc. has released new assay results from the continuing resource drilling program at the Queen Specimen zone at its flagship Fremont property in Mariposa county, California. As...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD REPORTS CONTINUED EXPLORATION SUCCESS IN NORTHERN TERRITORY, NEW MINERALIZATION IDENTIFIED AT UNION REEFSKirkland Lake Gold Ltd. has had further exploration success at Union Reefs (UR) and the continued development advance into the Lantern deposit at Cosmo mine. UR is the location of the company's processing plant in the Northern Territory.Mining at the...Read More
Nov 05, 2018 Guest(s): Jeffrey Christian Managing Partner, CPM Group Investors should pay attention to the latest uptick in central banks' gold purchases, as these institutions have historically bought gold on the dips, said Jeffrey Christian, managing partner of CPM Group. "Central banks are more price sensitive than private investors, so they'll buy on the dips whereas a lot of private investo...Read More
SWEDEN - ABB recently expanded its ABB Ability System 800xA Power Control Library (formerly MIDAS Library) software to include more options to communicate with and control electrical devices throughout the power infrastructure for mining and mineral processing operations. The digital solution now supports the PLC (programmable logical controller) connect functionality to extend power automation be...Read More
SWEDEN - ABB recently expanded its ABB Ability System 800xA Power Control Library (formerly MIDAS Library) software to include more options to communicate with and control electrical devices throughout the power infrastructure for mining and mineral processing operations. The digital solution now supports the PLC (programmable logical controller) connect functionality to extend power automation be...Read More
Mr. Darrell Rader reportsMINAURUM DISCOVERS 3 KM-LONG VEIN AT ALAMOS RETURNING UP TO 1995 G/T SILVER AND 2.46% COPPER; PROVIDES DRILLING UPDATEMinaurum Gold Inc. has discovered two new vein zones, the San Jose and the Santa Rosa, through its continuing district-scale reconnaissance program. San Jose returned assays ranging from anomalous up to 1,995 grams per tonne silver, 2.46 per cent copper and...Read More
Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP.: INDONESIA EAST JABUNG PSC UPDATEThe quarry permit that was required in order to commence construction of Pan Orient Energy Corp.'s Anggun-1X exploration well access road has been approved and road construction has commenced. The operator now estimates the Anggun-1X exploration well will commence drilling sometime between March 15 and May 15, 2019.T...Read More
(Kitco News) - Gold and silver prices aremodestly lower in early-afternoon U.S. trading Monday, in a choppy, two-sidedtrading session. Both the bulls and the bears are cautious ahead of what willlikely be a very active trading week. December gold futures were last down$1.90 an ounce at $1,231.40. December Comex silver was last down $0.121 at$14.635 an ounce. Focusis on Tuesday's U.S. mid-term ele...Read More
Photo by Piotr Swat/Shutterstock.com(Kitco News)- Nearly 100% of Barrick Gold Corporation shareholders (NYSE: ABX, TSX: ABX) voted infavor of a merger with Randgold Resources, clearing one more hurdle that pavesway for the creation of the world’s biggest gold producer.In a press release Monday, following a special shareholder vote,the company said that 99.8% or more than 683 million votes ca...Read More
(Kitco News) - The “proverbial perfect storm” of underperformance in the natural resource sector peaked in the third quarter, with the market now looking historically attractive, according to investment management firm VanEck.“Whether it be the concerns around … trade-war-induced slowdown in global growth and associated metals weakness …, [or] presumed dilutive acqu...Read More
(Kitco News)- While the world continues toreact to the election of Brazilian populist president Jair Bolsonaro, somegovernment officials don’t expect this to have much impact on the nation’s planto develop its national resource.In an exclusive interview withKitco News ahead of the October runoff election, Pedro Bruno Barros De Souza,secretary of public policy coordination, said that th...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 ended higher on Monday after closing Friday with a weekly gain of 2.4%, the index's biggest weekly increase since March.Verizon Communications Inc. (VZ) rose 0.9% after saying it would split its operations into three separate units as it moves into the 5-G arena.Amazon.com Inc. (AMZN) was dow...Read More
(Kitco News) - Large speculators rebuilt theirbearish positioning in gold futures during the most recent reporting week fordata compiled by the Commodity Futures Trading Commission, yet this may havebeen a temporary phenomenon, with prices since rising again amid a fall in the U.S. dollar, analysts said.During the week-long period toOct. 30 covered by the CFTC’s report, Comex December gold f...Read More
(Kitco News)- Gold has bounced in a $20 range since the end of October.Discounting the drop on Oct. 31, which webelieve was fund selling to grab some profits for client-statement purposes to offset losses in the equity space, goldhas remained in a very tight range. Good economic numbers on Friday helped tostrengthen the dollar, but gold remained resilient into the weekend. Thetechnical picture rem...Read More
Source: Michael J. Ballanger for Streetwise Reports 11/02/2018Precious metals expert Michael Ballanger discusses recent moves in the stock market, as well as with precious metals equities.The best news I could ever impart upon the world of gold and silver owners would be that the Great Intervention Bull Market of 2009-2018 in common stocks has ended and that the world is going to gravitate bac...Read More