Gold production in Canada is expected to grow at a compound annual rate of 2.7% from 2019 to 2023. This, according to GlobalData, Mining Intelligence, Centre means this country's output will reach 7.6 million oz. four years from now.The centre said the growth is due to new mines - Agnico Eagle's Meliadine in Nunavut, Victoria Gold's Eagle in Yukon, and Endeavour Gold's Lamaque in Quebec. These pro...Read More
For as long as stock exchanges have existed, precious metals have been a benchmark for security. Now, as uncertainty mounts in the markets, and even the most stable of asset classes prove vulnerable to an increasingly fearful sentiment among investors, it would appear that gold and silver could yet again provide the safe haven that stockholders inevitably turn to.Though gold prices were wavering l...Read More
Denison Mines of Toronto is ready to begin the rigorous environmental impact assessment of its 90% owned Wheeler River in situ uranium project in the Athabasca Basin.Both the Canadian Nuclear Safety Commission and the Saskatchewan Ministry of Environment have accepted the Wheeler River provincial technical proposal and federal project description.Denison has also said that it has executed a number...Read More
Barrick Gold (TSX:ABX) (NYSE:GOLD) president and CEO Mark Bristow, along with the executive director of JV partner Zijin Mining Group, today met with Papua New Guinea's new prime minister James Marapa about extending the current special mining lease on the Porgera gold mine, which is set to expire on August 16, 2019. This marks the second time that Bristow has visited the country this year to reaf...Read More
Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More
When was the last time you heard someone complain about how much something costs?When was the last time you complained about how much something costs?If I had to guess, there are at least a few things you buy fairly frequently where you can cite a time they were far more affordable than they are today.It isn't your imagination, of course. Prices creep up all the time and a dollar, as they say, doe...Read More
Toronto-based Orefinders Resources is making plans to resample and compile 31,900 metres of historical drill core for its Knight gold project 70 km southwest of Kirkland Lake, in the Shining Tree district. The project includes several contiguous zones of mineralization which have now been consolidated into a single property by Orefinders.Orefinders is making a $500,000 non-brokered financing to su...Read More
Jun 03, 2019 Guest(s): Christopher Vecchio Senior Currency strategist, DailyFX.com Bitcoin's prices have been linked to emerging markets, including the Yuan, and it is unlikely the Chinese currency will move enough to cause investors to flood into bitcoin, this according to Christopher Vecchio, senior currency strategist of DailyFX.com. "Now, over the past month, the currency with the highest co...Read More
We have written for over a year about the historical importance of the shift in Federal Reserve policy. We've noted that over the past 65 years in 11 of 13 rate cut cycles the gold stocks have enjoyed tremendous gains. The historical data shows an average gain of over 170% and median gain of almost 150%.As of last Tuesday morning, the market showed an 84% chance of a rate cut by the Fed meeting in...Read More
Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More
Key data from the June 3 pricing session in London and Shanghai. Key drivers: Fastmarkets' daily fob Australia alumina index stabilized just above $360 per tonne amid recent steady buying interest from China, where buyers have been covering units required as...Read More
"U.S. Officials Meet in Secret Over Junk-Loan Frenzy as Recession Alarms Flash"U.S. Treasury Secretary Steven Mnuchin on Thursday led a secret meeting of top U.S. financial regulators on the risks to global markets from the recent surge in corporate borrowing..."No details were provided on the gist of the discussion, though according to the statement the panel heard an 'update from Craig Phillips,...Read More
The lead import arbitrage in China re-opened in May causing lead concentrate imports to rise and lead concentrate treatment charges (TCs) to tumble, while spot terms for zinc concentrates stabilized. Fastmarkets' TCs index for low-silver lead concentrates dropped to a 19-month low of $5-15 per tonne on a cif China basis on Friday May 31, from $15-35 per tonne at the end of April. Several deal...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Nasdaq Composite index, heavily weighted towards tech stocks, fell sharply Monday on reports Alphabet and Facebook are facing Federal probes of their business practices. Alphabet (GOOGL - Get Report) sank on reports of an anti-trust probe and an issue that caused traffic congestion across key parts of its network over the weekend....Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 3 that are worth another look.In copper, Chile's state-owned producer Codelco halted part of its operation at the El Teniente mine following an accident on Sunday June 2. Separately, Aurubis has entered into a long-term supply contract with Teck Resources to source concentrates over a 10-year period from the s...Read More
Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 se...Read More
By: Ira EpsteinGold came alive as the markets brought rates down. Gold still very much sideways on long-term view. It has been a long time!Read More
Key data from the June 3 pricing session in London and Shanghai. Key drivers: Fastmarkets' daily fob Australia alumina index stabilized just above $360 per tonne amid recent steady buying interest from China, where buyers have been covering units required as...Read More
The lead import arbitrage in China re-opened in May causing lead concentrate imports to rise and lead concentrate treatment charges (TCs) to tumble, while spot terms for zinc concentrates stabilized. Fastmarkets' TCs index for low-silver lead concentrates dropped to a 19-month low of $5-15 per tonne on a cif China basis on Friday May 31, from $15-35 per tonne at the end of April. Several deal...Read More
* GRAPHIC-2019 asset returns:* Manufacturing PMIs highlight problems ahead (Updates with official prices, ISM data and dollar impact)By Pratima DesaiLONDON, June 3 (Reuters) - Copper prices touched five-monthlows on Monday, pressured by the escalating trade disputebetween the United States and China and concerns over the damageto manufacturing activity and demand for industrial metals.Benchmark co...Read More