The embattled Nicolas Maduro regime halted plans to ship 20 tons of Venezuelan gold overseas as a growing international push to ring-fence the country's dwindling hard assets unnerved those handling the transaction, according to a person with direct knowledge of the matter.The gold bars, which are worth about $850 million, had been weighed and separated for transportation, but will not be sent out...Read More
Turkish producers of steel billet, rebar and wire rod continued to increase prices for foreign customers following the uptrend in imported scrap values - despite customers appearing unwilling to accept any rises.However, there was little demand from customers for the higher prices and no significant bookings have been heard over the past week, sources said on Thursday January 31.Export billet...Read More
Vancouver's Tudor Gold Corp has outlined what it calls "Goldstorm," a new zone at the Treaty Creek property in the Golden Triangle. Treaty Creek, in which Tudor has a 60% interest and is the operator, borders Seabridge Gold's KSM project to the southwest and Pretium Resources' Brucejack mine to the southeast.Drilling northeast of the Copper Belle zone, Tudor originally thought that the zone was an...Read More
In a move sure to unleash fury from the Trump administration, the European Union has announced it has set up a transactions channel with Iran to bypassContinue...Read More
Precious metals refiner Asahi has won an auction for the assets of bankrupt Miami-based refiner Republic Metals Corporation (RMC), outbidding its Swiss rival Valcambi, three sources familiar with the matter said on Friday.RMC was one North America's largest precious metals refineries before it filed for bankruptcy in November.Asahi won the auction in a New York bankruptcy court on Thursday with a...Read More
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* Chinese premiums rise to $10-$12 an ounce* No import duty cut in India's budget* Weak currency keeps demand subdued in Hong Kong* Japan offers discount for first time in 20 weeksDemand for physical gold gathered pace in top consumer China ahead of the Lunar New Year holiday, while activity was muted in India as jewellers held off on purchases in anticipation of the country's budget presentation...Read More
Sokoman Iron (TSXV: SIC) announced that it now owns a 100% interest in the Moosehead gold property, located in central Newfoundland, Canada.In a press release, Sokoman said, as required in the option agreement it signed with Altius Resources (TSX: ALS), the company invested $500,000 in exploration expenditures as an operator within the first year of the closing of the deal.Core from one of the hol...Read More
China's rebar prices were unchanged on Friday February 1 with both the domestic and export markets at a virtual standstill due to next week's Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,710-3,750 yuan ($553-559) per tonne, unchangedNorthern China (Beijing): 3,700-3,740 yuan per tonne, unchangedVery few sellers were still offering materials during the day, and only transactions i...Read More
MAX Resource (TSXV: MXR) announced this week that, following sampling work at five conglomerate trial pits on its Choc?? project, free gold was observed in the test concentrates obtained from each of the hard rock pits.In a press release, MAX said that initial results suggest potential gold continuity throughout a surface area of approximately eight square kilometers, open in all directions.The Va...Read More
Teck Resources, (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, announced late on Thursday it expected fourth-quarter profits to be significantly below estimates, due to the low price of Canadian oil at the end of 2018, issues at its operations in Trail, B.C., and a decline in commodity prices.The Vancouver-based mining giant said all those factors combined, plus inventory v...Read More
Visible Gold, headquartered in Rouyn-Noranda, Que., has agreed to purchase the remaining 40% interest in the Cadillac East gold project from Cadillac West Explorations, a subsidiary of Liberty Gold Corp. Visible Gold will then be the 100% owner of the project.The purchase is a share-only deal. Visible Gold will issue 750,000 common shares with a deemed value of $0.06 each to Cadillac West. The Cad...Read More
The arrangement allows for additional investigation of this polymetallic property's prospectivity. Casa Minerals Inc. (CASA:TSX.V; CASXF:OTCMKTS; 0CM:FSE) announced in a news release it signed an option agreement to allow a private company to explore Casa's 100%-owned Keaper polymetallic project in British Columbia in exchange for an earned interest in it. The project is located about 20 km north...Read More
Future exploration will build on geological and geochemical survey work already performed on the property. Technical analyst John Newell of Fieldhouse Capital charts the company. Doubleview Capital Corp. (DBV:TSX.V; DBLVF:OTCBB; 1D4:FSE) announced in a news release it entered into an option agreement regarding its Red Spring project in British Columbia with a private company recently acquired by...Read More
Despite the fact that European steel mills published significantly lower alloy surcharges to come into effect on Friday February 1, prices have remained unchanged, Fastmarkets has heard.Transaction prices for grade-304 cold-rolled (CR) stainless steel sheets remained at ?,?2,000-2,040 ($2,295-2,341) per tonne delivered on the day.Whether the lower surcharges will be reflected in transaction prices...Read More
More economic data out of China released on Friday shows the Chinese economy is slowing Continue...Read More
China's crude stainless steel output rose 3.6% to a new high in 2018, according to data released by the China Stainless Steel Council.The country produced 26.71 million tonnes of crude stainless steel last year, up 940,000 tonnes from 25.77 million tonnes a year earlier, according to the statistics released late on Thursday January 31. Of the total, 48% or 12.82 million tonnes consisted of 300-ser...Read More
The Dow and Nasdaq notched their best weekly win streaks since 2017The Dow and its index peers gave back most or all of their early gains from this morning's nonfarm payrolls report, though the blue-chip index and the Nasdaq extended their weekly win streaks to six -- the best for each since late 2017. On top of the strong jobs data and a solid manufacturing report, traders also digested a downbea...Read More
How you can transform lagging indicators into leading indicators.Despite the strong January kick-start to 2019, many investors are still apprehensive of what's to come, especially considering some of the latest market-moving events -- think Fed policy announcements, U.S.-China trade negotiations, and earnings season, to start.While it's certainly no crystal ball, becoming familiar with the various...Read More
FAANG earnings were in the spotlight this weekTo say it was a busy week on Wall Street would be an understatement. Earnings season was in full swing, with a slew of high-profile FAANG and blue-chip stocks reacting to earnings. On top of that, traders digested more dovish talk from the Fed, just before a blowout January jobs report. At last check, the major market indexes are set to end the week hi...Read More