This precious metals firm continues its exploration efforts at its South Pacific island asset. Lion One's Tuvatu Gold ProjectLion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) started drilling at its Tuvatu project in Fiji, it announced in a news release. The drill campaign will "test shallow dipping lodes in the HT Corridor, a mineralized zone crosscutting the principal vein system of the Tuvatu res...Read More
Consistent with the firm's strategy, this new asset is at or near a producing mine with a quality operator. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release it agreed to acquire for CA$750,000, from a private person, all of the rights and interests to a 1% net smelter return (NSR) royalty on Coeur Mining's Lincoln Hill property. The transaction is expected to close on...Read More
Gregory Beischer, president and CEO of Millrock Resources, speaks with Maurice Jackson of Proven and Probable about the strategic investment his company just received. Maurice Jackson: Joining us today is Gregory Beischer, the president, CEO, and a director of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQX), a premier project generator. Mr. Beischer, welcome to the show. Gregory B.: Thanks very...Read More
As always, most analysts focus not on what they really should. After March FOMC meeting, everyone was talking about the more dovish dot-plot. But the Fed also announced that it will end the unwinding of its balance sheet in September. As these changes are revolutionary and may entail potentially huge consequences for the precious markets, we invite you to read our today’s article about the n...Read More
I am not sure how much more I can add to what has been said over the last two weeks in the metals complex.At this point in time, it is quite clear that the metals are testing support.As specifically noted about silver, the 14.60 support region is what I want to see holding as support here.While I can accept a spike and reversal of that level, a sustained break of that level opens the door to a 13...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 176,691139,29659,299154,403211,799390,393410,394 Change from Prior Reporting Period -6,52212,3568558,701-12,3333,034878 Traders 17490775752267184 Small Speculators LongShortOpen Interest 49,65529,654440,048 -3,567-1,411-533 non reportable positionsChange...Read More
Gold has failed to gain traction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leaving traders increasingly bearish. Gold investment demand has flagged dramatically with lofty stock markets spewing great euphoria. That's given gold-futures speculators the run of the market, where they have sold aggressively including extreme shortin...Read More
By: Avi GilburtI am not sure how much more I can add to what has been said over the last two weeks in the metals complex.At this point in time, it is quite clear that the metals are testing support. As specifically noted about silver, the 14.60 support region is what I want to see holding as support here. While I can accept a spike and reversal of that level, a sustained break of that level...Read More
It's like a breath of fresh air when the futures actually finish lower on the day. Granted, the S&P slippage on Thursday amounted to only a few measly points. Would it be churlish to hope it's the start of something really nasty? Bulls should be hoping for nothing less, since the broad averages, especially the Nasdaq, are desperately in need of a rest. Nitro-fueled by FAANG stocks, the Naz ha...Read More
By: Ira EpsteinSpecial Video in lieu of the daily metals update: Swinglines:Read More
US GDP numbers is overhyped today. Traders will take positions for next week's FOMC meet and host of US jobs numbers. There will be an Easter impact on US jobs. Global economy has a feel good situation. Once again it will be a technical trade today. Central bank buying has failed to lift gold. I am against going long in crude oil unless it breaks and trades over $67.20 till Mid May. Remain on th...Read More
Private equity firm Orion Mine Finance has entered into an agreement to sell 90-million of the shares of Canadian miner Stornoway Diamond Corp that it held for investment purposes.Orion will sell the shares at C$0.04 a share, netting C$3.6-million.AdvertisementAfter the transaction, Orion, through entities managed by the firm, will own 22 083 596 of Stornoway shares and $20.5-million of...Read More
The Karowe mine, in Botswana, has produced the world’s second-largest uncut diamond, Canadian company Lucara Diamond Corp announced on Thursday, sending the miner’s share price up 11% to C$1.68 a share.At 1 758 ct, the diamond is second in size only to the 3 106 ct diamond that was mined at Cullinan, South Africa, in the early 1900s.AdvertisementThe latest Karowe find is now...Read More
The government of Macau, a Special Administrative Region (SAR) of China, which was ruled by Portugal from 1557 to 1999 (442 years) and which retains strong ties with the Lusophone world, hopes that joining the Kimberley Process will strengthen its trade relations with Angola. “There are companies in Angola which have now shown interest in doing business in Macau, following the application to...Read More
Eastern promise for PolarXSPONSOREDpolarxWith construction of the Pumpkin Hollow underground mine proceeding on schedule and within budget to kick-start a copper mining revival in the Yerrington Valley by the December quarter, Nevada CopperRead More
Eastern promise for PolarXSPONSOREDpolarxThe Phoenix, Arizona-based miner reported adjusted net earnings of US$67 million or 5c per share, compared to non-GAAP earnings of $679 million or 46c per share a year earlier. Analysts had on average called for earnings of 7c per share.Net income in the March period totaled $31 million or 2c per share, down from $692 million or 48c in the same period a yea...Read More
Generally London Metal Exchange prices have been weak in recent days and the strong dollar has been a factor in that, but dip-buying appears to be providing support in morning trading on Friday April 26. Base metals Base metals prices on the LME were for the most part firmer across the board this morning, with copper, nickel, zinc and lead prices up by either side of 0.6%, while aluminiu...Read More
Following is a link:http://www.equityclock.com/2019/04/25/stock-market-outlook-for-april-26-2019/Note seasonality chart on Durable Goods OrdersObservationTechnicals on China deteriorated. Shanghai Composite broke below its 20 day moving average, short term momentum indicators turned lower and strength relative to the S&P 500 Index turned negative. Related North American equities (Materials, En...Read More
In January 2018, two significant market events occurred nearly simultaneously. Major U.S. stock market indexes peaked and volatility indexes extended one of their longest streaks of low volatility in history. Investors were happy, complacency ruled the day and all was right with the world.Then markets were turned upside down in a matter of days. Major stock market indexes fell over 11%, a technica...Read More
The first-quarter GDP number was released this morning. And at 3.2%, it came in far above estimates. Consensus was about 2.3%. It was also the highest Q1 GDP print since 2015.But there's probably less here than meets the eye.About half the GDP gain came from a surge in inventories and a sharp reduction in the trade deficit, neither of which is sustainable. They are likely one-time boosts.The econo...Read More