At least 15 mining firms in South Africa have received notices of strikes to be held next week in support of colleagues at Sibanye-Stillwater who on strike over wages and job cuts, Minerals Council South Africa said on Friday.The Association of Mineworkers and Construction Union (AMCU) has been on strike at Sibanye's bullion operations since mid-November and plans to extend the strike to its plati...Read More
It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and an Australian court saying mines must factor in climate change.Throw in an executive at a major Indian coal-fired power generator saying his company won't build any new plants as coal can't compete with renewables, and...Read More
An indigenous community in Peru has blocked Chinese miner MMG Ltd from using a road to transport copper from its massive Las Bambas mine to a port for shipment for the past 10 days, a lawyer representing the community said Friday.The community of Nueva Fuerabamba says the government illegally turned the road, which runs through its farmland, into a national highway, and wants to reach a deal with...Read More
The world's gold miners have spent years avoiding each others' gazes like nervous teenagers. Now all of a sudden they're acting like the thrill has gone.It hasn't even been two months since Barrick Gold Corp. and Randgold Resources Ltd. announced that their merger was "consummated," and already Executive Chairman John Thornton appears to be checking out an old flame. Like most odd couples, they co...Read More
Regional exploration last year on its Indin Lake property, 200 km north of Yellowknife in the Northwest Territories turned up high-grade gold in grab samples taken in three different areas including 174.50 grams gold per tonne at Fishhook, the southernmost project on its 899-sq-km land package, Nighthawk Gold (TSX: NHK; US-OTC: MIMZF) reports.Fishhook consists of several historical gold showings s...Read More
Canada's Pan American Silver (TSX:PAA) (NASDAQ:PAAS) announced Friday that it has completed the $1.07-billion buyout of Tahoe Resources by acquiring all of the issued and outstanding shares of the precious metals miner.Pan American expects to produce between 26.5 million ounces and 27.5 million ounces of silver this year, with gold output in the range of 162,500 ounces to 172,500 ounces.Based on t...Read More
Canada's Barrick Gold (TSX:ABX)(NYSE:GOLD), the world's second-largest gold producer, may eclipse its recent and perhaps overly-analyzed merger with Randgold Resources by buying rival gold major Newmont (NYSE:NEM) in a $19 billion all-share deal.Commenting on media speculation, the Canadian miner confirmed it had reviewed the opportunity to merge with the US miner in an all-share zero premium tran...Read More
* China, Hong-Kong markets quiet* Yen-denominated gold hits over 1-year peak* India discounts narrow to $1 from $6 earlier this week* India's gold marketPhysical gold demand in Japan slackened this week as prices rallied, while a market correction towards the latter half of the week lured some buyers back in India and Singapore.In Japan, the metal was sold at a discount of about 75 cents to the gl...Read More
Rescuers have retrieved another 13 bodies from a disused South African coal mine following a gas blast there around two weeks ago, police said on Friday, raising the confirmed death toll to 18.More than 20 people were trapped underground in early February when a gas pipe exploded after they entered the mine to steal copper wire that supplies power for lighting and ventilation.Rescuers had to abort...Read More
Do you want a portfolio of dividend stocks that pay you steady income every quarter on top of your gains in the market?It’s something a lot of investors aspire to. But with most dividend stocks trading at 20-30 times earnings, it’s hard to find a cheap buy among the “blue chips.” Sure, you can find some solid 3% yielders out there with the potential for future dividend grow...Read More
Lithium miners have set their eyes on Portugal, a country that doesn't scream "mining" like other jurisdictions, but which already is Europe's biggest producer of the commodity, thanks to the surge in popularity of electric vehicles (EVs).One of those companies is Savannah Resources, currently advancing its Mina do Barroso project in the north of the country, arguably one of the most advanced lith...Read More
Tesla continues to head south since hitting its post-earnings high of $321. It's down nearly $100 from the $380 post "funding secured" tweet all-time high close on August 7th. The stock has diverged negatively from the SPX since mid-January. By all accounts the order-rate and delivery rate of Tesla's 3 models is dropping quickly. While there may be a brief boost in sales from Model 3 deliveries...Read More
Gold futures settled higher Friday as the dollar weakened, with bullion booking its second straight weekly gain, a day after the metal's largest one-day drop since August. Gold for April delivery on Comex GCJ9, +0.22% gained $5, or 0.4%, to end at $1,332.80 an ounce, while March silver SIH9, +0.53% picked up 11.3 cents, or 0.7%, to finish at $15.914 an ounce. Gold booked a 0.8% weekly rise, while...Read More
Gold prices dropped back from a 10-month high on Thursday, suffering from their largest one-day decline since August. Analysts attributed the steep loss to minutes from the Fed's January meeting released a day earlier, which sounded less dovish than investors had expected, as well as a stronger dollar and rising bond yields. Prices for the metal also sank on the back of technical trading pressure....Read More
At the 2019 Vancouver Resource Investment Conference, we learned from Dr. Richard Spencer, President and Director of Aurania Resources Ltd. (TSXV: ARU, OTCQB: AUIAF, Frankfurt: 20Q) that Aurania is a junior exploration company with a focus on precious metals and copper. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of th...Read More
In his February 22nd Howe Street broadcast, Bob Hoye from ChartsandMarkets.com reveals that based on his firm's historical pattern recognition metrics, major stock markets are registering a sequential sell signal.Excitement in markets could signal a top is nearMeanwhile, gold stocks may be in the early stages of what could be a cyclical bull market.In light of the major sell-off markets experienc...Read More
Dr. Quinton Hennigh, chairman and president of Novo Resources, sits down with Maurice Jackson of Proven and Probable to discuss how the road to production looks.Maurice Jackson: Joining us for a conversation today is Dr. Quinton Hennigh, the president and chairman of Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX), which is focused on "A New Paradigm in Gold Exploration and Investing." Dr. Hennigh,...Read More
An iA Securities report provided some key data points to know about this company. In a Feb. 20 research note, iA Securities analyst George Topping reported that HudBay Minerals Inc.'s (HBM:TSX; HBM:NYSE) Q4/18 was a beat and 2019 guidance is in line. The company's Q4/18 cash flow was $0.40 per share versus consensus' $0.31 estimate. EBITDA came in at $122.8 million, higher than the Street's $107...Read More
A ROTH Capital Partners report discussed this and two other asset-related highlights. In a Feb. 20 research note, ROTH Capital Partners analyst Jake Sekelsky reported that interim recovery test results at First Mining Gold Corp.'s (FF:TSX) cornerstone asset, the Springpole gold project, are "encouraging."Notably, flotation tests yielded recoveries of 90.6% gold and 95.1% silver, which exceed the...Read More
A BMO Capital Markets report reviewed the numbers and how they stack up to others' forecasts. In a Feb. 19 research note, analyst Andrew Kaip reported that BMO Capital Markets increased its target price on Sandstorm Gold Ltd. (SSL:TSX; SAND:NYSE.MKT) to US$6 per share from US$4.75 "to incorporate the more positive 2019 outlook." The company's stock, rated Market Perform, is currently trading belo...Read More