Several resource companies reported good news this past week, much of it long anticipated but welcome all the same. After the run-up in stock prices this month with the increase in the gold price and following the news, Global Analyst Adrian Day shares his recommendations. Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) sold its entire block in Osisko Mining, one of its numerous offspring, for $132 m...Read More
When we last looked at Freeport Resources Inc. and how it's positioning itself to meet the coming copper crunch, the company has just secured some CA$2 million in new financing. Now, it has put some of that capital to work, securing a major license renewal. Canada-based Freeport Resources Inc. (FRI:TSX.V;OTCQB:FEERF;FSE: 4XH) recently announced that it had successfully renewed its license for the...Read More
(IDEX Online) - A buyer who thought they'd bagged a bargain 12.15-carat Kashmir sapphire was devastated to learn it was a near-worthless synthetic.The unnamed customer bought the oval modified step cut gem, set in a white metal ring, while travelling in Indonesia, complete with a "reputable" lab report.But they sent it for a lab test at GSI Mumbai after taking it for alterations at local jewe...Read More
(IDEX Online) - India's polished diamonds exports fell again in November, as manufacturers cut back on rough purchases in line with a two-month voluntary ban. Total foreign sales continued their decline, from $1.67bn in September to $1.26bn in October and now down to $1.1bn in November. The figure is down 12 per cent on the previous month and 12 per cent down on November last ye...Read More
U.S. equity index futures were lower this morning. S&P 500 futures dropped 8 points at 8:30 AM EST.FedEx dropped $22.82 to $257.18 after reporting less than consensus second quarter results.Steelcase dropped $1.32 to $11.38 after the company offered lower than consensus fourth quarter revenue guidance.General Mills dropped $1.75 to $64.96 after the company lowered sales guidance. Lowe's droppe...Read More
Colleague Dave Gonigam recently wrote of a potential American "civil war."Is the Supreme Court of the state of Colorado out to kindle one?It has ruled 4-3 that Mr. Donald Trump is disqualified from running upon the Republican ticket in the state of Colorado.That is because the state's high court has deemed the fellow guilty of insurrection against the United States.They claim the 14th Amendmen...Read More
The market is tipping its hand.If you pay close attention, you'll begin to see the signs of a massive rotation in stocks - a phenomenon most investors will ignore until it's too late.But I do have some good news...If you catch these moves early, you have the chance to pull in impressive returns. As this rotation rally extends, I'm betting one sector could double up the S&P 500 during the first...Read More
Everyday Americans understand inflation perfectly. But the egghead economists and policymakers who govern their lives don't.That may be because inflation is one of the biggest concerns of those who live in the real world, and it may lead to a political earthquake next November in the presidential and congressional elections.Here's the reality and here's the political narrative: Reality is that pri...Read More
Barry Dawes of Martin Place Securities shares his view on why one gold stock may be an early Christmas present for investors. "New Zealand mining is back open for business," said Resources Minister Shane Jones December 14, 2023Dominant 1000km2 tenement package in Reefton Goldfield with 511koz at 3.4g/t. Reefton Goldfields endowment produced >2moz underground as well as >8moz alluvial Same high gra...Read More
(IDEX Online) - Japan, as one of the G7 nations, will join the ban on importing of non-industrial diamonds from Russia.But the move is more symbolic than anything, given that total imports amounted to under $400,000 in 2022.The Japanese government announced the diamond sanctions as part of new round of sanctions being implemented in view of what it described as "the current international sit...Read More
(IDEX Online) - Rolex has been fined $100m by France's Competition Authority for prohibiting the sale of its watches online.The Swiss company has long claimed that restrictions on its authorized retailers are necessary to prevent counterfeiting and parallel trade in its watches. But the Autorite de la Concurrence, France's antitrust agency, ruled that it restricted competition.It sa...Read More
(IDEX Online) - India is reported to be calling on the G7 to delay the introduction of sanctions on Russian diamonds, the first of which are due to take effect from 1 January 2024.It is particularly concerned about restrictions on diamonds that are cut and polished outside Russia - mostly in India - that will come into force on 1 March.It says they will prove impractical to implement in such a tig...Read More
(IDEX Online) - De Beers reported rough diamond sales of $130m of during its last sight of the year, as the polished market started to show some signs of recovery.The UK-based miner expressed cautious optimism that rough trading conditions were gradually improving.Average sales across all 10 cycles this year were $362m. So despite a 51 per cent increase from October's record low of $86m, Nove...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points at 8:35 AM EST.S&P 500 Index futures added 10 points following release of economic news at 8:30 AM EST. Consensus for the updated annualized U.S. third quarter real GDP was unchanged at 5.2%.Actual was a slip to 4.9%. Consensus for the December Philly Fed Index was -3.0 versus -5.9 in November. Actual was...Read More
Yesterday's issue drew a very heavy mail.We solicited your opinion concerning the Colorado Supreme Court's ruling to strike Mr. Trump from the Republican primary ballot.We thank you for your responses.In summary: The ruling wrung the gizzards of most readers.They believe the Colorado Supreme Court conducted itself... how do we style it... extrajudicially.Reader Jason M. talks for many when he says...Read More
Yesterday, I had a rousing conversation with Jim Rickards about the rise of Artificial Intelligence (AI).As you probably know by now, AI and its offshoot Generative Pre-Trained Transformers (GPT) are all the rage.There is one camp that whole-heartedly believes this technology will transform the world and be bigger than the invention of the internet.While Jim sees this potential (and as do I) he wa...Read More