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
While geopolitical concerns have been the prime driver for most commodity markets recently, iron ore has been a standout, trading largely on traditional fundamentals.Since the tailings dam disaster in January at one of top exporter Vale's mines in Brazil, iron ore has traded almost exactly as you would expect for a commodity that suddenly went from a situation of comfortable to constrained supply....Read More
Gold is finally seeing some bullish momentum as trade ructions escalate, fueling the biggest rally among the top miners in seven months.President Donald Trump's plan to impose a 5% tariff on all Mexican goods over illegal immigration rattled financial markets, boosting the haven appeal of the metal that has been weighed down by the strong dollar. China's threat to blacklist foreign firms it accuse...Read More
Foreign loans that use minerals as collateral may complicate Zimbabwe's future negotiations with foreign creditors to restructure its $8.8 billion debt, an International Monetary Fund official said on Monday.Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for miner...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
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
Jersey-based Royal Road Minerals (TSXV: RYR) announced the closing of the acquisition of Northern Colombia Holdings from Compa???-a Kedahda, an affiliate of AngloGold Ashanti (JSE: ANG) (NYSE: AU).In a press release, Royal Road explained that NC Holdings, through its subsidiaries, owns Exploraciones Northern Colombia, which holds or has rights to a title package comprised of mining concession agre...Read More
The silver miners' stocks have been pummeled in recent months, plunging near major secular lows in late May. Sentiment in this tiny sector is miserable, reflecting silver prices continuing to languish relative to gold. This has forced traditional silver miners to increasingly diversify into gold, which has far-superior economics. The major silver miners' ongoing shift from silver is apparent in th...Read More
Geomega Resources is improving its proprietary ISR technology as it moves closer to being Canada's first rare earth elements recycler and the only one outside China. The company operates a pilot plant and has made several optimizations recently.The plant can now recover over 95% of the reagents used, keeping operating costs down and the process environmentally sound. It can also handle more variab...Read More
Nuclear power is an underappreciated point man in America's energy collective.It's frequently overshadowed by coal (which has long been the key source of U.S. energy output) and renewable sources like solar and wind, which are said to be our future.But the truth is this: America can't run on either of these things alone.For decades, nuclear power has supplemented coal. And it will do the same for...Read More
Cannabis stocks as a group have come off a bit as the good buds are being separated from the sticks and seeds (move over wheat and chaff).Tilray (NASDAQ: TLRY), for example, is down from its peak at $300 last fall to $40 today.Other descents have not been as pronounced. And high-quality companies have held their ground relatively well. I'm thinking of names like Hexo (NYSE: HEXO).Some thoughts...F...Read More
The verdict is in, and it does not look good for miners in Argentina. In a unanimous decision on Tuesday, Argentina's Supreme Court rejected a challenge to an environmental law banning mining in glacial areas that was brought by Barrick Gold. The Canadian miner had attempted to subvert Argentina's controversial Glacier Protection Law prohibiting mining in glacier and permafros...Read More
Source: GlobalData Mining Intelligence CenterA new report by GlobalData shows the value of capital raising deals in the metals and mining sector increased from the final quarter last year to over $11 billion in Q1 2019, despite the number of agreements inked falling sharply.GlobalData said overall, the total volume of completed capital raising deals decreased from 378 in Q4 2018 to 273 in Q1 2019,...Read More
Jun 04, 2019 Guest(s): Clem Chambers CEO, ADVFN When it comes to recognition as "money" and a "store of value," bitcoin outcompetes gold on its practicality and versatility, said Clem Chambers, CEO of ADVFN and author of the bestseller "101 Ways to Pick Stock Market Winners." "I could not take enough gold out of the country for it to be useful to me if I had to leave the country; if I was a Sout...Read More
Global economic growth is forecast to ease to a weaker-than-expected 2.6% in 2019 before inching up to 2.7% in 2020, the World Bank says in its June 2019 Global Economic Prospects: Heightened Tensions, Subdued Investment. Global growth in 2019 has been downgraded 0.3 percentage point below previous forecasts, reflecting weaker-than-expected international trade and investment at the start of...Read More
The silver miners' stocks have been pummeled in recent months, plunging near major secular lows in late May. Sentiment in this tiny sector is miserable, reflecting silver prices continuing to languish relative to gold. This has forced traditional silver miners to increasingly diversify into gold, which has far-superior economics. The major silver miners' ongoing shift from silver is apparent in th...Read More
BDC Capital, the investment arm of Canada's only bank devoted exclusively to entrepreneurs, has pledged C$250 million to an industrial innovation venture fund. The funds will be invested in tech companies and entrepreneurs transforming core Canadian business - including mining.Capital will be invested in businesses at any stage of their life to help them drive marked improvements in productivity a...Read More
Weekly Reports |Jun 04 2019Buyers are paying more for uranium that does not come from sources facing possible US restriction but falling demand is still sending prices lower.-Uranium price discrepancy opens up-Trend remains down-IEA rails against premature reactor shutdownsBy Greg PeelAn interesting dynamic opened up in the month of May in uranium markets with regard the uncertainty surrounding th...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 4. Please click...Read More
The premiums offered on supplies of aluminium to Japan in the third quarter of 2019 have been heard at $115-120 per tonne cif main Japanese ports (MJP), about 12% above the second-quarter premium, due to tighter supply, Fastmarkets learned on Tuesday June 4.One major producer offered a premium over the London Metal Exchange cash price of $115 per tonne and another $120 per tonne for July-September...Read More