LONDON - Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said.Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee to identify strategic alternatives including joint ventures and a...Read More
Getty ImagesA worker installs parts in a Mercedes-Benz C-Class frame as they move down the production line at a factory in Alabama. The numbers: Industrial production rose 0.6% in November, the strongest gain in three months, the Federal Reserve reported Friday, on the back of strong mining and utility output. The increase in November output was above Wall Street expectations of a 0.4% increase....Read More
It's been a whirlwind week for the shipping expertIt's been a volatile week for XPO Logistics Inc (NYSE:XPO), which plunged nearly 10% on Wednesday after the company cut its 2019 adjusted EBITDA forecast, and dropped more than 26% yesterday -- hitting a two-year low of $41.05 along the way -- in the wake of a "strong sell" rating and scathing note from Spruce Capital. Today, XPO stock is up 5.8% a...Read More
Chinese battery maker GEM Co. has halted buying cobalt from Glencore Plc after prices fell below the agreed level under a three-year contract signed earlier this year, according to a person familiar with the matter.Cobalt prices have dropped more than 25 percent since a peak in April amid growing concerns that too much supply has been brought online in response to surging prices. Last week Glencor...Read More
REGN is on track for its third straight weekly winThe shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) are up 0.9% to trade at $381.87, after Goldman Sachs upgraded its rating on the stock to "buy" from "neutral," adding it to its Conviction Buy list in the process. The covering analyst is bullish on the company's pipeline of products. The upbeat price action today could help Regeneron stock...Read More
Ontario's Government for the People is supporting innovation in Sault Ste. Marie, which will lead to modernization in the manufacturing industry and create nine full-time jobs.Today, Ross Romano, Parliamentary Assistant to the Minister of Energy, Northern Development and Mines, announced the Sault Ste. Marie Innovation Centre (SSMIC) is receiving $713,590 to create a team of information technology...Read More
Some options traders are betting on a huge TLRY declineWeed stock Tilray Inc (NASDAQ:TLRY) has been relatively quiet recently, at least compared to the noise it created back in September when it traded in a 150-point range in a single session, eventually topping out at an even $300. Since then, the shares have been sliding lower, yesterday notching their lowest close since August. It's been over t...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Vancouver, BC - Peekaboo Beans Inc (CSE:BEAN | OTCQB:PBBSF) (the "Company" or "Peekaboo Beans"), is pleased to announce that it intends to complete a non-brokered private placement of up to 5,000,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of up to approximately $500,000 (the "Private Placement"). The Company intends to use the proceeds from the Private Place...Read More
Core retail sales in the U.S. soared in November, but data from Beijing was soberingFear is spiking this morning, as a dismal batch of economic data out of China sparks concerns over the impact of trade tensions on the global economy. This is offsetting news Beijing agreed to suspend auto tariffs for 90 days beginning Jan. 1, as well as a much stronger-than-expected 0.9% surge in core U.S. retail...Read More
iStockphotoRow of quaint A-Frame homes in a Pacific Northwestern suburban neighborhood. Rates for home loans tumbled for a third week, offering a glimmer of hope for would-be buyers. The 30-year fixed-rate mortgage averaged 4.63% in the Dec. 13 week, down 12 basis points and touching its lowest since September, mortgage liquidity provider Freddie Mac said Thursday. The 15-year fixed-rate mortg...Read More
U.S. production of lithium is set to increase 1,300% in the next 2 years.Who wouldn't be happy with 614% gains in a very short amount of time?Well that's what one lithium mining stock did in just under 12 months. But only Australians could reap the rewards of that slam-dunk.Until now that is. The very same "secret sauce" that led to that stock's meteoric rise is now being implemented here in Ameri...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), the world's top bullion producer by volume, is acquiring 12,600,000 common shares of fellow junior miner Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects on South America's North Atlantic coast.The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Q...Read More
Fred Imbert | Sam Meredith | Yen Nee LeePublished 18 Hours AgoUpdated2 Hours AgoCNBC.com show chapters Markets slump on fears of a global slowdown — Four experts on what to watch next 5 Hours Ago |03:17 Stocks fell sharply on Friday after weaker-than-expected data in China and Europe exacerbated concerns of a global economic slowdown.The Dow Jones Industrial Average fell...Read More
Published 20 Hours AgoUpdated6 Hours AgoReuters Gold fell to its lowest in more than a week on Friday and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust U.S. economic data ahead of a U.S. Federal Reserve meeting next week.Spot gold eased 0.3 percent to $1,238.86 per ounce as of 11:14 a.m. EST (1614 GMT). Earlier in the session, prices hit thei...Read More
Australian miner and infrastructure supplier Mineral Resources (ASX: MIN) signed Friday a binding deal to sell a stake in its Wodgina Lithium Project and form a joint venture with US-based battery metals giant Albemarle for $1.15 billion.The agreement gives Albemarle a 50% interest in all mineral rights within the Wodgina tenements, other than iron-ore, which Mineral Resources will retain, and Tan...Read More
Shares in Africa-focused Firestone Diamonds (LON:FDI) shot up more than 14% on Friday after the company announced it had recovered a 46-carat white diamond at its 75%-owned Liqhobong diamond mine in Lesotho.The gem-quality stone was recovered undamaged, the miner said, and will be sold at the next tender in January.Firestone, one of the four African diamond producers part a potential four-way me...Read More