Kirkland Lake GoldLtd. (TSX, NYSE: KL; ASX: KLA) reports a jump in its third-quarter profit andupped output guidance for the full year. Third-quarter net earnings totaled$55.9 million, or 27 cents per share, compared to $43.7 million, or 21 cents,in the same period of 2017. Adjusted earnings for the July-September quarterwere $60.6 million, or 29 cents, up from $35.3 million, or 17 cents, a yearag...Read More
LONDON (Reuters) - Bitcoin was heading toward a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year’s bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying.By 1300 GMT, bitcoin BTC=BTSP was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it on Halloween 2017 fa...Read More
Mr. Blaine Monaghan reportsFREMONT IDENTIFIES POSSIBLE EXTENSION TO THE GOLD BAR MINE NEVADAFremont Gold Ltd. has identified several highly prospective drill targets at the company's Gold Bar project located in Eureka county, Nevada. A recently completed soil sampling program, based on a new structural interpretation, has identified coincident gold and mercury geochemical anomalies, and suggests t...Read More
WASHINGTON (Reuters) - U.S. national security adviser John Bolton said on Wednesday Washington wants to apply maximum pressure on Iran with sanctions on its crude exports, but does not want to harm countries that are friends and allies that depend on the oil.Bolton also said the Trump administration understands that a number of countries, some close geographically to Iran, and others “may no...Read More
Nickel premiums in China rose on Tuesday October 30, on an opening import arbitrage. The physical nickel markets in Europe and the United States were relatively quiet. Premiums rose in China with an open import arbitrage making business more profitable. The nickel markets in Europe were mostly flat despite a weak London Metal Exchange nickel price. US nickel premiums were unchanged, although consu...Read More
LONDON (Reuters) - OPEC has boosted oil production in October to the highest since 2016, a Reuters survey found, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to U.S. sanctions.The 15-member Organization of the Petroleum Exporting Countries has pumped 33.31 million barrels per day this month, the survey on Wednesday found, up 390,000 bpd...Read More
Base metals prices on the London Metal Exchange ended mostly lower Wednesday October 31, pressured by a fresh 2018 high in the US dollar index.The three-month nickel price was hardest hit, falling 2.5% over the afternoon to an intraday low of $11,500 per tonne. Both three-month copper and zinc fell below nearby support levels - copper fell below $6,000 per tonne for the first time since September...Read More
NEW YORK (Reuters) - Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.Strong earnings reports in the United States and Europe spurred a broad rally, despite data showing that China’s factory growth slowed to its lowest in...Read More
Bob Moriarty ArchivesOct 31, 2018I just got back from an interesting visit to Ireland. From 1975 to 1985 I was working flying small aircraft to new owners all over the world. Gander Newfoundland and Shannon Ireland were natural jumping off points for ferry pilots. The distance between the two via a great circle route is 1922 nautical miles. Give me five minutes and a glance at a wind chart and I c...Read More
The tin premium in Europe accelerated to a 21-month high on concerns surrounding Indonesian tin supply, while premiums in the United States and in Asia were immobile on sufficient supply. European premiums at 21-month high US contracts hint at climbing premiums Asia premiums steady on abundant stocks Indonesian supply crunch lifts European premiums In Europe, the premium for 99.9%...Read More
(Kitco News) - Gold andsilver prices are moderately lower in early U.S. trading Wednesday. Improvingtrader and investor risk appetite in the marketplace at mid-week is bearish forthe safe-haven metals. Also, a stronger U.S. dollar index that scored a newfor-the-move high overnight is weighing on the precious metals markets thisweek. December gold futures were last down $7.50 an ounce at $1,217.80....Read More
Key data from the Wednesday October 31 pricing session in Europe.Key driversTrades and assessments indicate the European ferro-titanium market continued the downtrend that began on September 12, when the market was assessed at $5.80-6.05 per kg. Ample supply of material, as well as traders looking to sell-off inventories before year-end were cited...Read More
WASHINGTON (Reuters) - U.S. private sector payrolls increased by the most in eight months in October, suggesting overall job growth accelerated this month after Hurricane Florence weighed on restaurant and retail employment in September.The strong jobs market is gradually putting upward pressure on compensation, with other data on Wednesday showing a solid increase in labor costs in the third quar...Read More
(Reuters) - U.S. stocks rose for a second day on Wednesday, as investors snapped up technology favorites and strong results for General Motors and a host of others lifted spirits at the end of a torrid month for global equities.Shares of Facebook Inc (FB.O) jumped 2.7 percent after the social media giant said margins would stop shrinking after 2019 as costs from scandals ease.The S&P communica...Read More
Spot copper concentrate treatment and refining charges (TCs/RCs) remained almost unchanged and at high levels toward the end of October, with a rapidly widening backwardation reducing the market liquidity.Fastmarkets' assessment of the TC/RC index dipped by $1.60 per tonne/0.16 cents per lb to $87.40 per tonne/8.74 cents per lb on October 31. The previous assessment of $89.00 per tonne/8.90 cents...Read More
(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) and Randgold ResourcesLtd. (Nasdaq: GOLD) are offering a Halloween goodie to shareholders - thecompanies Wednesday announced they are planning to increase dividend payments.In late September, the companies announced an all-stockmerger in which Barrick would acquire Randgold to create the largestgold-mining company in the world. The merger is subje...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold prices remained on thedefensive after the monthly ADP report Wednesday showed that U.S. firms created227,000 new private-sector jobs during October.Consensus estimates compiled by newsorganizations had called for around 178,000 to189,000 newprivate-sector jobs to be created. The September tally was revised to 2...Read More
NEW YORK (Reuters) - The dollar edged up to a fresh 16-month high against a basket of key currencies on Wednesday on the back of continued U.S. economic strength, putting the greenback on pace for a seventh straight month of gains.Against a basket of its rivals, the dollar, was up 0.13 percent at 97.12, its highest level since June 2017.“If you look at the G10 as well as some of the emerging...Read More
The refined zinc market is expected to be in a slight deficit next year despite improved mined zinc supply, a representative from the International Lead and Zinc Study Group said on Wednesday October 31.Refined zinc metal output will rise to 13.81 billion tonnes next year, up 3% from the expected output of 13.41 billion tonnes this year, the group's director of economics and environment Meng Jianb...Read More
WASHINGTON (Reuters) - The Pentagon has identified about 7,000 troops that could be deployed to the border with Mexico if needed, a U.S. official told Reuters on Wednesday.The official, speaking on condition of anonymity, said the number was an initial estimate and could change.“The total number of troops deployed will change each day as military forces flow into the operating area, but init...Read More