Guyana Goldfields Inc. (TSX: GUY) reports a net loss for the third quarterand downgraded its full-year production guidance, explaining that grades have not rebounded as quickly asanticipated in the fourth quarter. The net loss for thethird quarter was $2.2 million, or a penny per share, which officials says wasinfluenced by increased deferred tax expense and management restructuringcharges. In the...Read More
A typical example of massive copper (chalcopyrite) mineralization in a diamond drill core from the New Craigmont Project 14 km from Merritt, southern British Columbia. Source: Nicola Mining Inc.Nicola Mining Inc. [NIM-TSXV] said Tuesday October 30 that it has commenced an extensive reverse circulation drilling program on waste piles at its 100%-owned New Craigmont Project, which is located in the...Read More
WASHINGTON (Reuters) - U.S. consumer confidence rose to an 18-year high in October, driven largely a robust labor market, suggesting strong economic growth could persist in the near term.The Conference Board said its consumer confidence index increased to a reading of 137.9 this month, the highest reading since September 2000, from a downwardly revised 135.3 in September. Economists polled by Reut...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 30 with the country's steel mills staying out of the market due to the firm prices on offer, sources said.The mills have booked a number of cargoes over the past week, pushing prices upward.The latest deals put the price for HMS 1&2 (80:20) from the Baltic Sea region at $335 per tonne cfr.But...Read More
NEW YORK (Reuters) - The credit quality of U.S. states is improving, with revenue growth and spending moderation helping to halt a downward trend, according to a report to be released later on Tuesday.States’ revenue growth is higher than national economic growth in current dollars, the bi-annual report from global investment management firm Conning Inc found.The boost in credit quality to &...Read More
Outcrop washing at the Bell Zone on the Alces Lake REE property. Source: Appia Energy Corp. Appia Energy Corp. [API-CSE; APAAF-OTCQB; AOI-FSE] has released some impressive analytical results from surface channel samples collected from the Wilson Zone as part of a recently completed exploration program carried out at the Alces Lake property in northern Saskatchewan.Highlights include results from l...Read More
Turkish domestic scrap prices have increased over the past week due to tight supply and increasing costs for imported scrap, sources said on Tuesday October 30.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,830-1,940 ($329-348) per tonne delivered on Tuesday, narrowing upward from last week's TRY1,770-1,940 per tonne.Long steel mill ID?? increased...Read More
WASHINGTON (Reuters) - Every time President Donald Trump mentions the $110 billion arms deal he negotiated with Saudi Arabia last year, he quickly follows up, saying “It’s 500,000 jobs.”But if he means new U.S. defense jobs, an internal document seen by Reuters from Lockheed Martin (LMT.N) forecasts fewer than 1,000 positions would be created by the defense contractor, which coul...Read More
The Guyana Goldfields Aurora gold mine in northwest Guyana, South America. Source: Guyana Goldfields Inc.Guyana Goldfields Inc. [GUY-TSX; OTC-GUYFF] took a steep tumble Tuesday October 30 following a downward revision in its 2018 gold production guidance.In a press release that also contained the company's third quarter operational and financial results, the company said 2018 production guidance h...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Tim Termuende, President, third from right, takes reporters and brokers on an Eagle Plains property tour. Source Eagle Plains Resources Ltd.Eagle Plains Resources Ltd. [EPL-TSXV] and option partner Roughrider Exploration Ltd. [REL-TSXV] have completed 2018 exploration work on the Olson Project, located approximately 120 km east of La Ronge, Saskatchewan. Roughrider may earn up to an 80% interest i...Read More
Cantex drilling on the North Rackla Project, Yukon Territory. Source: Cantex Mine Development Corp.Cantex Mine Development Corp. [CD-TSXV; CTXDF-OTC] reported drill results from the Massive Sulphide Zone on its 100%-owned, 14,077-hectare, North Rackla claim block in the Yukon. Results have now been received for nine holes from this summer's diamond drill program. Final results are available fro...Read More
Comex copper prices tumbled to a mid-September low on October 30 morning in the US amid rising bearish sentiment in the equity market, a rising dollar and ongoing worries regarding the trade war between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange tumbled 5.70 cents to $2.6835 per lb. Earlier in intraday trading, the contract h...Read More
* Euro zone GDP weaker than expected in Q3, sentiment sours * Fears of more U.S. tariffs on Chinese goods help dollar * Yuan slides to decade low on economic slowdown fears * Graphic: World FX rates in 2018 (Adds quotes, details, updates prices)By Tommy WilkesLONDON, Oct 30 (Reuters) - The dollar hit a new 2 1/2-monthhigh on Tuesday, supported by worries about an escalation of theSino-U.S. trade w...Read More
LONDON (Reuters) - Oil prices fell more than 2 percent on Tuesday on signs of rising supply and concerns that global economic activity and fuel demand would be hit by a deepening U.S.-China trade dispute.Benchmark Brent crude oil LCOc1 fell by $2.25 a barrel to a low of $75.09 before recovering slightly to around $75.50, down $1.84, by 1345 GMT. U.S. light crude CLc1 was down $1.30 at $65.74.Both...Read More
* Dollar gains on report that U.S. preparing more Chinesetariffs * Holdings in SPDR Gold Trust rise to highest in 2 months * Gold on track to post biggest monthly gain since Jan * Silver eases to lowest in nearly three weeks (Updates prices)By Swati VermaBENGALURU, Oct 30 (Reuters) - Gold slipped on Tuesday as thedollar benefited from concerns about an escalating trade disputebetween the United St...Read More
Einstein called it the most powerful force in the universe and the eighth wonder of the world.Warren Buffett said it was the secret to wealth.It's also why vampires are stupid rich.I'm talking about compound interest. Perhaps you'd like to learn more about this powerful force and the secret to true wealth. Well, I'll tell you.First of all, there are two basic ways to calculate interest: simple and...Read More
BERLIN (Reuters) - German annual inflation picked up in October to reach its highest level in more than 6-1/2 years, data showed on Tuesday, supporting European Central Bank President Mario Draghi's case for gradually winding down his unprecedented monetary stimulus.German consumer prices, harmonized to make them comparable with inflation data from other European Union countries, rose by 2.4 perce...Read More
The Tuesday Market Minute Global stocks bounced higher Tuesday, with markets in Asia driven by fresh signals of intervention from authorities in China as investors continue to fret over a renewed escalation in the ongoing trade war between Washington and Beijing.European stocks book early gains on the back of a weaker euro and better-than-expected earnings from regional bluechips BP and Volkswag...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s administration took action on Monday to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property from U.S. semiconductor company Micron Technology Inc (MU.O).The Commerce Department said it had put Fujian Jinhua Integrated Circuit Co Ltd on a list of entities that cannot buy compone...Read More