Whilst it must be frustrating for Precious Metals sector investors to watch Tech stocks continuing to "shoot the moon" while PM stocks have mostly done nothing, the chart presented below suggests that this situation won't persist for much longer.The 7-month chart for GDX shows it probably completing the Handle of a sizeable Cup & Handle continuation pattern. GDX has stayed above the support leve...Read More
A summary of South32's earnings, alumina and aluminium production results for the first half of its 2020 financial year ended December 31, 2019. In brief: South32's underlying adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) declined by 48% to $678 million.Profits before tax have slumped 72% to $251 million from $908 million in first half of last year.Company reven...Read More
By Carolyn BorodenGold has a rather important decision zone in the 1580.30-1581.70 area. This zone is the high that gold futures (GC) reached on February 3 in a .618 Fibonacci retracement off its low, and it also constitutes a 100% projection of the prior rally swing. Note that on the first test of this key resistance gold has failed to clear the hurdle and has pulled back just over $16.00 s...Read More
By: Ira EpsteinGold market - best to watch the sideways action, watch out for the pot holes..Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More
Share this articleVANCOUVER - Great Atlantic Resources Corp. [GR-TSXV] is pleased to announce that is has closed the second, third and final tranches of the non-brokered private placement previously announced on January 13, 2020 for gross proceeds of $790,000. The units of the financing are comprised of one common share at a price of $0.50 and a full share purchase warrant, which may be exercised...Read More
Chinese producer Ganfeng plans to increase its battery-grade lithium hydroxide prices by no more than 10% due to higher transportation fees and production costs resulting from the novel coronavirus (2019-nCoV) in China, it said on Thursday February 13.During the Lunar New Year holiday, Ganfeng halted production at most of its wholly-owned subsidiaries until February 3. Several of its subsidiaries...Read More
Today is Thursday, February 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 $1,576.95. It's down -1.19% from yesterday and...Read More
Today is Thursday, February 13, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of DMC Global (NASDAQ: BOOM), Calumet Specialty Products Partners LP (NASDAQ: CLMT), and Denbury Resources (NYSE: DNR).DMC Global (NASDAQ: BOOM)DMC Global (NASDAQ: BOOM) is a $568.99 million company today with a one-year return of 15.52%. Let's look at its price-to-earnings (P/...Read More
Timberline Resources Corporation (OTCQB: TLR; TSX-V: TBR) is advancing district-scale gold exploration and development projects in Nevada, where the Company controls mineral rights on over 43 square miles. We learned from Dr. Steven Osterberg, President and CEO of Timberline Resources, that they chose to focus on Nevada because it is a world-class mining and mining investment jurisdiction, with we...Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
In a recent article entitled, "The Race for Arctic Oil Is Heating Up," the first line reads:Despite climate concerns and environmentalist backlash against exploration for oil and gas in pristine sensitive regions of the Arctic, companies continue to explore for hydrocarbon resources in the Arctic Circle, in Russia and Norway in particular.Whenever something starts with, "Despite climate concerns a...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
EU domestic prices for hot-rolled coil have increased day on day despite lower import offer prices on similar material, sources told Fastmarkets on Thursday February 13.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?479.31 ($522.45) per tonne on Thursday February 13, up by ?,?3.10 per tonne day on day from ?,?476.21 per tonne on February 12.The index was...Read More
China's domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne, unchangedSellers in Shanghai were asking for 3,500-3,510 yua...Read More
Vancouver, February 12, 2020 - Due to a corporate action relating to Power Financial Corp (PWF), the following treatment will be applied to the INK Canadian Insider Index:Power Financial Corp (PWF) will be deleted from the Index on the effective date.Effective date: close of business February 13, 2020AltaGas Ltd. (ALA) will be added to the Index at the same weight as the deleted stock (PWF).Effec...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More