AngloGold Ashanti (JSE:ANG) (NYSE:AU) paid Renaissance Gold (TSX.V:REN) $300,000 to maintain its 100% earn-in option on the Silicon project in Nevada.AngloGold already kicked off a planned 17,000-metre, Phase 2 drill program on the property with one RC and one core rig.If Anglo completes the payments and exercises the purchase option, RenGold would retain a 1% net smelter return royalty on future...Read More
Turkish steel billet prices remained largely unchanged over the past week with market participants generally focused on rebar sales after the US halved its import tariffs, sources said on Thursday May 30.Suppliers in the Commonwealth of Independent States (CIS) were offering billet to Turkey at $440-450 per tonne cfr, but bids from Turkish customers were heard at $430...Read More
The situation and the gold major's proposal are discussed in a Haywood report. In a May 23 research note, Haywood analyst Kerry Smith reported that Barrick Gold Corp. (ABX:TSX; GOLD:NYSE) proposed to acquire the remaining 36.1% interest in Acacia, taking Barrick to 100% ownership, to end the two year-long dispute with the Tanzania government. "The successful resolution would be a positive catalys...Read More
The company's campaigns for its U.S. and Canadian assets are outlined in a ROTH Capital Partners report. In a May 24 research note, ROTH Capital Partners analyst Jake Sekelsky reported that McEwen Mining Inc. (MUX:TSX; MUX:NYSE ) achieved commercial production at Gold Bar in Nevada and announced drill results from its Timmins assets in Ontario. "We expect management to shift focus towards high-va...Read More
These initial results come after two years of preparatory geological work. Liberty Gold Corp. (LGD:TSX) announced in a news release that the first assays from its Black Pine property in Idaho hit significant widths of high-grade, oxide gold mineralization and extended it deeper and along strike into a gap in historical drilling."We are thrilled with the results from the first four holes," CEO Cal...Read More
With this addition, the company will have three Canadian projects in its portfolio. Nexus Gold Corp. (NXS:TXS.V; NXXGF:OTCQB) announced in a news release it agreed to acquire a series of mineral claims in central Newfoundland, commonly known as the Gummy Bear copper-gold project. For Gummy Bear, which consists of seven claims and 2,525 hectares of property, Nexus Gold will issue 4,000,000 common...Read More
Iranian billet producers increased their offers for July-rolling billet this week, in a move to test the market after successful sales to Asia last week and to benefit from price increases in the global market.Billet prices increased in the global market after the United States decision to halve import duties on steel products from Turkey. That move was expected to support demand for Tur...Read More
Monthly European alloy surcharges for stainless steel products will decrease for June after the price of nickel fell over 6% between April 20 and May 20, according to data published by Fastmarkets.The June surcharge for grade-304 cold-rolled stainless sheet is set to decrease to ?,?1,339-1,380 ($1,493-1,539) per tonne for June, a fall of ?,?70-71 per tonne from May surcharge levels, according to d...Read More
Chinese stainless-steel producer Tsingshan Holding Group plans to set-up a cold-rolling mill with an annual capacity of 600,000 tonnes per year in Busan, South Korea, and has submitted letters of intent to the city government and potential business partners, Chinese market sources told Fastmarkets.Domestic suppliers may raise concerns about Tsingshan's plans because South Korea currently consumes...Read More
Stocks backpedaled alongside 10-year bond yields, stirring recession fearsIt was a choppy session for U.S. stocks today, as the Dow erased early gains around midday to turn lower alongside the 10-year Treasury yield -- which is drawing closer to parity with its 2-year counterpart, and raising alarms about a possible yield curve inversion. This development, paired with rising tensions in the U.S.-C...Read More
The Gold Price began 2019 with a continuation of it's strong December 2018 rally towards resistance at $1300 that was soon overcome propelling the Gold price higher to next resistance at $1350 by Mid February. Since when entered into a shallow downtrend all the way to the recent low of $1269. Which is particularly disappointing given that many Gold bugs had pinned hopes on safe haven demand in the...Read More
By: Ira EpsteinRead More
Although I usually let my charts tell me where stocks are headed next, the 'technicals' are a tad sunnier than I at the moment. This is notwithstanding recent weakness that has caused new record highs that were within spitting distance just a few weeks ago to recede. A 3095 target that lay just 4.5% from early May's peak now sits 10.5% away. It's certainly do-able, but I doubt buyers have the mo...Read More
Credit Suisse is lacking hope toward Kraft HeinzTrade uncertainty has stocks hovering around breakeven, leaving marketsrelatively quiet at midday. Three stocks that are making noise today are measurement name Keysight Technologies Inc (NYSE:KEYS), Tommy Hilfiger parent PVH Corp (NYSE:PVH), and ketchup manufacturer Kraft Heinz Co (NASDAQ:KHC). Below, we will dive into what is moving the shares of...Read More
The social media stock is making a notable move higher todaySnap Inc (NYSE:SNAP) options volume is heavy today, as the shares of the Snapchat parent jump 1.6% to trade at $11.87 -- putting them within striking distance of their April 8 eight-month peak at $12.63. Most of the action has been at the hands of bullish speculators, as they target even more upside for the social media stock over the nex...Read More
Traders have been buying to open out-of-the-money June calls this weekU.S.-China trade tensions have sparked a sell-off in oil prices recently, with the front-month July-dated contract shedding roughly 13% since its April 23 close at $66.24 per barrel -- last seen at $57.53 per barrel. This weak price action has been seen in the VanEck Vectors Oil Services ETF (OIH), which is off more than 27% ove...Read More
In mid-May 2019 the leading cryptocurrency, Bitcoin(BTC), was trading around $5,600. At $4,000, a prominent technician predictedit was gearing up for a run to $6,500. Yet when it reached $5,700, herecommended selling because of a technical "non-confirmation." As if on cue, BTC began an epicupside run, easily slicing through his initial target! Following an $8,600print, the price cratered...Read More
China's retaliatory tariff hikes are set to take effect on June 1The U.S.-China trade war could remain in focus next week, with China's retaliatory tariffs on $60 billion in U.S. goods slated to take effect on Saturday, June 1. Meanwhile, next week's potentially market-moving events will also include May's highly anticipated nonfarm payrolls, as well as Apple's (AAPL) Worldwide Developers Conferen...Read More
UNIQUE OPPORTUNITY: First, we typically see stocks sell-off and as the old saying goes, “Sell in May and Go Away!” which is what has been happening. So what does this mean? It means we should start to see money flow into the safe-haven assets like the Utility sector, bonds, and most importantly precious metals. I anticipated this and our XLU utilities ETF taken with members has al...Read More
Speculators are targeting at-the-money weekly options that expire tomorrowRide-sharing service Uber Technologies Inc (NYSE:UBER) is set to unveil its first earnings report as a publicly traded company after tonight's close, and ahead of the event, the stock is relatively quiet -- last seen down 0.3% at $39.84. UBER's options pits, on the other hand, are buzzing, with volume running at a much quick...Read More