The government of Panama has rejected a last-minute proposal by First Quantum Minerals (TSX: FM) to amend its US$375 million a year royalty agreement, casting the operation of the Cobre Panama copper mine into doubt. Panama President Laurentino Cortizo plans to hold a Cabinet meeting and address the nation today on the government's next steps, according to Federico Alfaro Boyd, minister of comm...Read More
Australian miner Fortescue Metals Group (ASX: FMG) is investing a further $4 million (US$2.9 million) in Candente Copper (TSX: DNT), which will increase its stake in the Canadian junior from 19.4% to 25.4%.The world's fourth-largest iron ore producer will buy 22.2 million shares of Candente at 18 ? per share, a 26% premium to the five-day volume-weighted average price of the junior's shares.For...Read More
Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (Read full newsRead More
Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (Read full newsRead More
Dear Outsider,It's been one hell of a ride for the markets to close out the year.Volatility just doesn't want to let up.Good inflation numbers, bad inflation numbers...Stock futures up, down, and sideways.It makes you just want to throw up your hands and walk away.But don't forget that markets have come back strong each time the CPI numbers were released the last two months, so we'll make sure to...Read More
It was about 3,000 years ago, in what would become the city of Fushan in northeastern China, that the first-ever coal mine opened and produced coal.The Chinese used the coal for their energy needs, and thus began the Age of Coal.Indeed, Fushan was mining so much coal that the city's nickname would become "City of Coal." By around the third century B.C., it began burning coal for heat, while carve...Read More
Gold defied anotherhawkish Fed decision this week, consolidating high in its immediate wake. That was an impressive show of strength,after this extreme Fed tightening cycle hammered gold for a half-year or so. That strong performance reflects gold-futuresspeculators’ weakening resolve to keep shorting. With their long-side selling exhausted, they havemassive mean-reversion...Read More
Rio Tinto now fully owns Turquoise Hill, which has a 33% stake in Oyu Tolgoi. Turquoise Hill shares will cease trading. The deal was approved by Turquoise Hill shareholders in December 2022.Read More
Investors with an interest in iron ore know what that means because the Simandou project in Guinea has long threatened to destabilise the iron ore market and potentially crash the price of the steelRead More
Cypress Development advances Nevada lithium project towards productionSPONSOREDcypress development corpCanada's NexGen eyes large-scale uranium productionSPONSOREDnexgen energyUranium revival takes off as reality hits on energy, geopoliticsSPONSOREDPresident Laurentino Cortizo called an Extraordinary State Cabinet meeting after talks with First Quantum ended without an agreement being reached.Read More
"We are currently updating the project's 2010 feasibility and 2011 feasibility expansion studies.Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.U.S. Steel advanced $0.63 to $24.27 after raising guidance for fourth quarter revenues and earnings. Steel Dynamics added $0.28 to $102.20 after predicting an increase in hot rolled steel prices in 2023.Exact Science jumped $11.34 to $55.95 after its colorectal cancer treatment results w...Read More
Today is a high and solemn day - Bill of Rights Day. This, the Bill of Rights to the United States Constitution, we celebrate in today's reckoning.In 1941 President Franklin Delano Roosevelt designated Dec. 15 Bill of Rights Day. Thereupon he called upon...the officials of the government, and upon the people of the United States, to observe the day by displaying the flag of the United States on pu...Read More
Sam Bankman-Field of FTX, who seems to have stolen and otherwise misdirected billions from his own crypto scam, was invited to speak at a New York Times event called DealBook on Nov. 30. A seat in the audience cost $2,499. He had been booked for the gig long before because he was a darling of the left, having thrown around many millions to back Democrats in the midterms.He was also loved for runni...Read More
We note - with eyebrows rather raised - the curious arrest of Mr. Sam Bankman-Fried.Bahamian authorities collared and jugged the disgraced former FTX chief and aspiring Madoff on Monday.The collaring and jugging were executed at the request of the United States government.The business transpired hours before he was scheduled to (remotely) appear before the United States House Committee on Financia...Read More
"The world is not driven by greed. It's driven by envy."Here is the sage conclusion of Mr. Charles Munger, aged 98 years. Mr. Munger is of course the partner of Warren Buffett and legendary vice chairman of Berkshire Hathaway.What human vice ranks fourth among the seven lethal sins? That is correct - envy.Today we evaluate the acid emotion of envy. We further document how envy can wreck a man's we...Read More
North America's oldest silver miner, Hecla Mining (NYSE: HL), is set to consolidate its position as the continent's primary silver leader. It is working to increase U.S. output by 20% and to become the most prominent Canadian silver producer by year-end.The 130-year-old company's CEO, Phil Baker, told the recent Canadian Mining Symposium in London that the 1.2 billion oz. silver market is growing...Read More
Robex Resources (TSXV: RBX) was set to restart operations at its Nampala gold mine in Mali after a trespasser was killed on Thursday and work was halted temporarily, the company said. A crowd of artisanal miners intruded onto the open-pit site in the West African country's south and encountered security, the company said in a news release. One other person was injured in the incident, Robex said...Read More
For years, Brazil was overlooked as a favourable mining jurisdiction within South America. But what's recently become apparent is that times are changing. The countries that were once deemed as go-to options are now experiencing civil unrest and political instability. While these countries no longer attract the investment dollars they once did, Brazil is emerging as a mining destination of choice....Read More
EnCore Energy (TSXV: EU; OTCQB: ENCUF) has won a court challenge to its US$32 million Dewey-Burdock uranium project in South Dakota. The Oglala Sioux Tribe and watchdog group Aligning for Responsible Mining wanted a United States appeals court to review its decision in August approving the Nuclear Regulatory Commission's (NRC) licence for enCore to mine uranium at the project about 150 km south...Read More