News: Trading centers quiet with Belgium shutting for August summer break. Polished prices declining as demand drops and inventory rises. US dealers resilient despite economic caution. Consumer confidence down in July amid inflation concerns and higher interest rates, Conference Board says. Fed raises rates 0.75%. Rough premiums cool after strong 1H. Cutters maintain low polished production. De Be...Read More
RAPAPORT... De Beers' revenue rose by almost a quarter in the first half of 2022, but the miner gave a more somber outlook for the rest of the year as polished demand has slowed. "We can only have strong rough sales if that's also coupled by what's going on on the polished side," De Beers chief financial officer Sarah Kuijlaars told Rapaport News on Thursday. "The polished position was very s...Read More
RAPAPORT... The Gemological Institute of America (GIA) has begun accepting submissions for a new service providing consumers with source verification for diamonds.Leading manufacturers sent the first polished diamonds to the GIA's Source Verification Service in early July, the institute said Wednesday. GIA-graded diamonds with confirmed origin information will be available to consumers when the in...Read More
RAPAPORT... Kering reported strong jewelry sales during the first half of 2022, led by a recovery in North America and Europe.The group's Boucheron and Pomellato jewelry houses delivered "very solid performances," outweighing weaker results from Qeelin, which was affected by the health situation in China in the second quarter, Kering reported Wednesday.Sales at Kering's "other houses" segment - wh...Read More
(IDEX Online) - A flamboyant pastor and his wife were robbed at gunpoint of $1m of jewelry as he delivered his Sunday sermon at a New York church.Police are investigating a complaint by Lamor Miller-Whitehead, who goes by the title bishop, at the Leaders of Tomorrow church, in Brooklyn.He says a raider brandishing a gun took off his bishop's ring and chain, his wedding ring, an chains he...Read More
(IDEX Online) - Lucara has announced the death of its founder and former chairman Lukas Lundin at the age of 64, after a two-year battle with brain cancer.He was the driving force behind the Canada-based Lundin Group of Companies, which employs 15,000 people globally in energy and mining.And in 2007 he established Lucara, the diamond mining company that owns the Karowe mine in Botswana. It is know...Read More
(IDEX Online) - Fugitive diamond merchant Jatin Mehta, wanted in India over sophisticated $1bn fraud, has found living an "expensive lifestyle" in Britain and has had his assets frozen by a court there.He is alleged to have been behind a scam to defraud a gold bullion and jewelry manufacturer and a diamond company in India, using a complex web of companies in the UAE, Britain, Singapore and I...Read More
"Unfortunately, our earnings were affected by significant provisional pricing adjustments given the late-quarter decline in base metal prices," the company's president and CEO Peter Rockandel said.The company has also revised down its 2022 production guidance, while lifting its cash cost forecasts.Lundin's total copper production guidance now stands at 250,000-274,000 tonnes, down from the previou...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade. U.S. equity index futures moved lower following first release of the second quarter real GDP report. Consensus was an increase of 0.3% versus a drop of 1.6% in the first quarter. Actual was a drop of 0.9%.Ford gained $0.84 to $14.03 after reporting higher than consensus second quarter r...Read More
Canada's lithium supply response is expected to post strong growth through 2031 and outperform the U.S., a new analysis by Fitch Solutions Country Risk & Industry Research suggests.Canada's current solid project pipeline, prospective investments into petroleum brine production techniques in Alberta, and a fast-growing battery and electric vehicle (EV) manufacturing base in Quebec and Ontario provi...Read More
ATAC Resources (TSXV: ATC; OTC: ATADF) has updated the resource at its Osiris deposit, part of its 100%-owned Rackla gold property in central Yukon, incorporating 7,800 metres of drilling in 20 additional holes completed since the previous 2018 resource.A significant portion (43%) of the 2018 inferred resource has been converted to the indicated category, which now totals 732,000 oz. gold at an av...Read More
Equinox Gold (TSX: EQX), which is developing the Greenstone project in Ontario in partnership with Orion Mine Finance Group (60/40), said the overall project is now 35% complete, and the mine is on schedule to pour its first gold in the first half of 2024. The $1.2-billion project also remains on budget, with over half its total capital costs already contracted to date.Validity of the project's...Read More
I have a theory that mining executives are eating too much salad. Beatrix Potter warned us in 1909 that eating lettuce is soporific (in her Tale of the Flopsy Bunnies). Whatever the cause, mining companies seem to be sleepwalking into a catastrophic shortage of skills.The revered children's author was a remarkable lady. A keen natural scientist, Potter had a particular interest in archaeology, ent...Read More
Miners Ultra Argentina SRL and China's Zangge Mining have committed US$290 million in investments to explore and develop lithium deposits in northwest Argentina, as well as to build a plant, the minister of industry Daniel Scioli announced.Zangge Mining will initially invest US$40 million in the exploration and development of the Laguna Verde lithium project in the province of Catamarca.A further...Read More
The mining entrepreneur died in Geneva at the age of 64, following a two-year battle with brain cancer.Read full newsRead More
https://www.juniorstockreview.com/premiumTwitter Handle - @junior_stock https://twitter.com/Junior_StockFPX Nickel Corp. (FPX:TSXV) - https://fpxnickel.com/D...Read full newsRead More
FPX Nickel (TSXV: FPX; OTC: FPOCF) has received additional results from an ongoing three-phase metallurgical test program to support the continued development of the [...]Read full newsRead More
Freegold Ventures Limited (Freegold) (TSX: FVL) (OTCQX: FGOVF) is pleased to announce results from an additional twelve holes ( 7,668m ) as part of the ongoing drill program designed to expand, upgrade and increase the overall resource grade at the Golden Summit Project (Read full newsRead More
Last week, the Biden administration sent another $400 million in defense aid to Ukraine. It was the 15th such package and brought the total level of humanitarian and military aid to $7 billion since the war began in February.The package included heavy artillery, including howitzers and High Mobility Artillery Rocket Systems (HIMARS), which have been crucial to slowing Russia's progress in the eas...Read More
The miner, which originally joined the ASX in 2004, has gained approvals to delist on August 31. Local investors have one month to get their affairs in order.Read More