TMAC's Hope Bay mine. TMAC Resources has released key results from a prefeasibility study completed for its wholly owned Hope Bay property in Nunavut, which includes an operating mine.Last year, Hope Bay produced 139,510 oz. of gold; with release of its fourth quarter operating results in January, the company announced that it initiated a strategic review process to explore alternatives to max...Read More
SKF, a company which offers solutions for the bearing business, has released a compact and cost-effective vibration and temperature sensor, which monitors the condition of rotating parts on heavy machinery. Designed mainly for use as part of a SKF rotating equipment performance (REP) solution, the SKF Enlight Collect IMx-1 enables customers to reduce unplanned downtime as well as maintenance costs...Read More
Cerro del Gallo project. Image by Argonaut Gold. Canadian producers Argonaut Gold and Alio Gold have entered into an agreement for an all-share merger with Argonaut acquiring Alio to create a diversified intermediate company with output of over 235,000 gold-equivalent ounces annually.With a share exchange ratio of 0.67 Argonaut common shares for each Alio common share, Argonaut and Alio share...Read More
Here are five Fastmarkets stories you might have missed on Monday March 30 that are worth another look.Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's...Read More
The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's also created a problem. The one-two punch demand and supply shock that the virus has created is putting the mining sector under extreme pressure. With banks even more reluctant than before to provide capital to the mining sector amid the tumultuous global financial backdrop, corporates...Read More
The three-month aluminium price on the London Metal Exchange continued its decline at the close of trading on Monday March 30, settling at its lowest level since April 2016, while a steady uptick in lead saw its outright price close at a two-week high. Aluminium's underlying price on the LME closed at $1,530.50 per tonne on Monday afternoon, its lowest level in just under four years, while turnove...Read More
New and existing domestic and offshore institutional investors participated in the two-tranche placement of 694 million shares, which was conducted at 18c per share, a 23.Read More
The company said it was evaluating how to ensure supply of concentrate to its zinc smelters following the loss of volumes from Tara, Europe's largest zinc mine.Canadian bank BMO forecast Tara would produce about 135,000 tonnes of zinc in concentrate in 2020, representing 45% of Boliden's total zinc production this year.BMO said the 14-day shutdown would have "relatively limited impact on overall p...Read More
Zinc concentrate treatment charges (TCs) are dropping in China with smelters and traders scrambling to cover shortfalls in supply feed left by shuttered mines.Countries across South America have brought in stringent lockdown measures to combat the spread of the Covid-19 virus with top exporters Peru (2 million tonnes - 2019) and Bolivia (1.1 million tonnes - 2019) among the most restrictive to bus...Read More
A nationwide shutdown in South Africa means local manganese ore miners have not been able to produce nor ship material since midnight on Thursday March 26, causing liquidity to dry up for low-grade material over the latest pricing session, market sources told Fastmarkets. As a result, seaborne manganese ore prices in China were little changed in the week ended March 27. The whole market is now hol...Read More
Halifax, Nova Scotia- March 30, 2020 - Sona Nanotech Inc. (CSE: SONA), (OTC Pink: SNANF) (the "Company") entered into service and supply agreements with a contract manufacturing organization (CMO) in Europe for the manufacture of its Covid-19 virus-detecting, rapid-response test. The Company also entered into a letter of intent agreement with an international distributor representing the health au...Read More
MONTR??AL, March 30, 2020 /PRNewswire/ - Siyata Mobile Inc. (TSX-V:SIM / OTCQX:SYATF), based in Montr?(C)al, Canada, focused on push-to-talk over cellular communications, today announced that Arlen Hansen, Investor Relations, will present live at VirtualInvestorConferences.com on April 2nd.DATE: Thursday, April 2ndTIME: 11:30 AM ETLINK: https://tinyurl.com/April2TechVICThis will be a liv...Read More
Namibia's mining sector is centred around uranium, with the Rossing and Husab mines accounting for more than 10% of global supply.China-backed Rossing Uranium, previously controlled by Rio Tinto, said it would stop normal operations on Saturday "and enter a period of minimal mining operations", with critical maintenance work to continue.Other assets of significance include B2Gold's Otjikoto mine,...Read More
Here are five Fastmarkets stories you might have missed on Monday March 30 that are worth another look.Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's...Read More
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." Benjamin Franklin, writer, printer, political philosopher, politician, Freemason, postmaster, scientist, inventor, humorist, civic activist, statesman, diplomat, one of the Founding Fathers of the United States; 1706-1790 "These are the times that try men's souls." Thomas Pa...Read More
By Avi GilburtOn Thursday, we saw the worst jobless claims number in history (and by far). Yet, the S&P500 futures rallied over 200 points from their overnight lows. So, are we to believe that the "cause" of that rally was the jobless claims?I can assure you that if the market dropped 200 points there would be no question in your mind that the drop was certainly caused by the jobless claim's ann...Read More
Maersk Line, the world's biggest container shipping company, will be suspending its North Europe (AE2) and Mediterranean (AE20) services on the Asia-Europe network during the second quarter of 2020. "Due to market demand reductions in Europe caused by the Covid-19 pandemic, Maersk endeavors to balance our network to match reduced demand," the Danish carrier said in an advisory on Friday March...Read More
Spot availability of copper scrap is now being limited by a plummeting commodity price in March because suppliers have refused to destock at the price level."At this discounted price level, some copper scrap suppliers could suffer losses. The price of scrap cannot even cover the processing costs so suppliers have become reluctant to sell," a source with a major copper refinery in China said. High-...Read More
The lockdown in India has caused a variety of logistical issues resulting in imported scrap material becoming stranded at ports and leading to potentially large charges at a time when trading has come to a sudden halt, market sources have told Fastmarkets. On March 24, Indian Prime Minister Narendra Modi announced the country would begin a 21-day lockdown period effective from midnight until...Read More
Turkish deep-sea scrap import prices fell sharply for the third time in two weeks amid the Covid-19 pandemic, which has brought steel trade to a halt and led to closures or production cuts, sources said on Monday March 30.A steel mill in northern Turkey was heard booking a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 3,000 tonnes of bonus at an averag...Read More