Share this articleCALGARY - A veteran of Canada's ailing oilpatch is hoping a new product drawn from deep under Prairie grain fields will provide a natural resource boom for Western Canada.Marlon McDougall, 59, says he wasn't interested when first approached last year to join a junior exploration company.After 35 years in the oil and gas industry, he had grown frustrated by its multiplyin...Read More

Today is Monday, January 13, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of CVR Energy (NYSE: CVI), Murphy Oil Corporation (NYSE: MUR), and National Fuel Gas Company (NYSE: NFG).CVR Energy (NYSE: CVI)CVR Energy (NYSE: CVI) is a $4.061 billion company today with a one-year return of 8.81%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-val...Read More

Share this articleTORONTO - The financial and industrials sectors helped lift Canada's main stock index in late-morning trading, while U.S. stock markets also moved higher on the first day of trading of the year.The S&P/TSX composite index was up 13.16 points at 17,076.59.In New York, the Dow Jones industrial average was up 168.19 points at 28,706.63. The S&P 500 index was up 11.17 points at 3,241...Read More

Hot-rolled coil prices in the United States rose on Monday January 13, with buyers accepting a greater amount of the combined five price increases domestic mills have announced since October.Fastmarkets' daily hot-rolled coil index, fob mill US was calculated at $30.75 per hundredweight ($615 per short ton) on Monday, up by 1.2% from $30.38 per cwt on Friday January 10. Sources reported lead times...Read More

Share this articleVANCOUVER - Equinox Gold Corp. will acquire Leagold Mining Corp. in a friendly deal that will raise its annual production to about one million ounces of gold starting in 2021.It's offering 0.331 of an Equinox share per Leagold share.Based on Friday's closing stock prices, Equinox's offer is worth $2.70 per share - equal to Leagold's stock price, which gave it a market value of...Read More

Today is Monday, January 13, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,553.10. It's down -0.59% from yesterday and up...Read More

There is a major false belief about the oil industry that's held by most of the public and only serves to get you to buy crude over a longer period. That belief: Oil companies and organizations like OPEC want crude prices to be as high as possible.That's simply not true. And, over the weekend, Saudi Arabia's energy minister gave us some evidence of that.This morning, Reuters reported that Saudi Ar...Read More

Share this articleTORONTO - Barrick Gold Corp. and its Senegalese joint-venture partner have reached deal to sell their 90 per cent stake in the Massawa project in Senegal to Teranga Gold Corp. in an agreement worth up to US$430 million.Under the deal, Barrick and its partner will receive US$300 million in cash and roughly 20.7 million in Teranga shares valued at US$3.85 per share for a total of U...Read More

Northern European flat steel producers increased their official hot-rolled coil offer prices on Monday January 13 and transaction prices are also expected to rise, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe, was ?,?442.93 ($492.35) per tonne on Monday January 13, up from ?,?442.43 per tonne on January 10.Monday's index was calcul...Read More

Share this articleTORONTO - Endeavour Mining Corp. is offering to buy Centamin PLC in a stock-swap deal that values the gold miner at roughly $2.5 billion, based on stock values just prior to the announcement.Endeavour says it made the offer after several unsuccessful attempts to engage with the board of Centamin regarding a possible merger.Toronto-listed Endeavour, which has gold mines in Af...Read More

Share this articleTORONTO - Centerra Gold Inc. says two workers are missing after a "significant rock movement" at its Kumtor mine in the Kyrgyz Republic.The company says the incident happened at the Lysii waste rock dump and that two employees working in the area did not report to the emergency gathering area.Toronto-based Centerra says it has halted open pit mining operations and the mine plan i...Read More

China's domestic hot-rolled coil market remained subdued on Monday January 13, although a weakening dollar appeared to give some support to export prices.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($561-562) per tonne, narrowed by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600 yuan per tonne, down 20 yuan per tonneSources in both eastern and northern China said that trading...Read More

In our weekly Saturday Globe and Mail Who is Buying and Selling feature, we focused on insider buying at Cardinal Energy (CJ) which we first highlighted in our January 6th morning report. Three years ago, insiders were selling as Cardinal Energy traded above $9. The stock is now below $3, production is up, and the CEO is buying. Watch the INK Research video summary of our January 6th report for f...Read More

Share this articleTORONTO - A Chinese mining company has signed a friendly deal to buy Continental Gold Inc. for $1.4 billion.Zijin Mining Group Co. Ltd. has agreed to pay $5.50 per share in cash for the Toronto-based company which is developing the Buritica gold project in Colombia.Continental shares closed at $4.87 on the Toronto Stock Exchange on Friday.The Buritica project is expected to prod...Read More

Here are five Fastmarkets MB stories you might have missed on Monday January 13 that are worth another look.Sentiment in the global long steel market has become more positive "especially after the announcement that a trade deal between the [United States] and China will be signed," the International Rebar Producers & Exporters Association (Irepas) said last week.International auditing and advisory...Read More

Rising ferrous scrap costs have nudged special bar quality (SBQ) steel spot prices upward in the United States, while sentiment among market participants has been weak to start the year, Fastmarkets has learned. On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US rose to $35 pe...Read More

Sentiment in the global long steel market has become more positive "especially after the announcement that a trade deal between the [United States] and China will be signed," the International Rebar Producers & Exporters Association (Irepas) said last week."[But] we have to keep in mind the possibility that any trade deal may prove to be elusive," the association added in its January 2020 Short Ra...Read More

Turkish steel mills continued to hold back from deep-sea scrap purchases on Monday January 13, due to weak rebar markets and firm scrap prices, sources told Fastmarkets.Steelmakers in the country booked only one deep-sea cargo last week, when a steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus...Read More

Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More

Ferrous scrap prices in most global markets dipped on weaker demand during the week ended Friday January 10, but the Indian market remained strong.Turkish market dips on fewer trades United States prices unchanged Limited buying sees Vietnam prices drop Taiwan prices down on weaker demand Indian prices continue to increase TurkeyPrices for ferrous scrap into Turkey fell this week, with only o...Read More