Producing and then trading metal used to be the purview of just a few, with the supply chain more typically separated into silos and companies making occasional forays into different areas. But as the line between producer and trader has become increasingly blurred, the differentiator between companies is becoming the services they provide. As Christophe Allain, group portfolio director for non-fe...Read More
SHANGHAI, Jun 12 (SMM) – Nonferrous metals mostly traded weakly on Tuesday June 12. SHFE nickel led losses and closed 0.61% lower. Copper dipped 0.52%. Tin and aluminium inched down, while zinc and lead went up slightly. The ferrous complex rose across the board with coke leading the gains with a surge of nearly 4%. Coking coal jumped nearly 3%, rebar gained almost 2%, hot-rolled coil r...Read More
Seaborne coking coal prices were stable on Tuesday June 12, but trading activity in the second-tier segment is picking up, market sources said. A 40,000-tonne cargo of a second-tier product was heard to have been traded at around $182 per tonne fob Australia. Offers for premium hard coking coal remained above $200 per tonne cfr China, though there were no firm bids heard during the day. A cargo of...Read More
The price gap between different grades of iron ore continued to hold up on Tuesday June 12 amid modest gains for this segment of the steelmaking raw materials market during the day.Metal Bulletin 62% Fe Iron Ore Index: $67.23 per tonne cfr Qingdao, up by $0.48 per tonneMetal Bulletin 58% Fe Premium Index: $54.29 per tonne cfr Qingdao, up by $0.45 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88....Read More
Base metals on the London Metal Exchange were mostly a little higher during morning trading on Tuesday June 12, with aluminium, zinc and lead prices ticking higher while copper and tin prices drifted lower.Copper's three-month price slipped more than 0.4% lower over the morning, dipping below $7,200 per tonne - it had reached five-year highs at the end of last week. Unresolved labo...Read More
Marshall sent us his technical work today along with some commentary. He sees a raid coming to gold & silver. Here's the details...Marshall Swing of The Church of ActsI have been watching silver and gold for several days now searching for sell and short indicators.I get the feeling the Commercials have changed tactics a little in their dispersals of their tactics as their obvious preparations for...Read More
Peter KrauthWhile gold waits for a fresh catalyst to find direction, silver's already made a move.The price of silver is up 3.4% in the past week, while gold has trended sideways. The Fed's FOMC meeting this week is what silver investors are watching now.There are strong odds the Fed will announce a rate hike this week. The market is interpreting that as confidence in sustained economic strength a...Read More
The metallurgical study will be incorporated into the Springpole prefeasibility study, which is scheduled for completion some time in 2019.A secondary function of the M3 study will entail an attempt to improve gold recovery in the current whole-ore carbon-in-pulp (CIP) flowsheet, as suggested in the October 2017 preliminary economic assessment (PEA), and to optimise recoveries for the flotation fl...Read More
Toronto-based Wesdome, which has a 30-year pedigree as a Canadian gold producer, is working to develop and explore the 300E Zone that was first discovered in 2015. The 300 Zone is located 300m - 400m north of the main 8 Zone structure, which has provided the bulk of the Eagle River mine's production over the past 20 years. It comprises two areas - the 300W and 300E Zones - with the 300E area...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week because of the expected start of the Islamic Eid al-Fitr holiday, sources told Metal Bulletin on Tuesday June 12.Buyers preferred to postpone booking activity during the holy month of Ramadan, which started in mid-May. The holiday, marking the end of the holy month, will start toward the end of this week.Wo...Read More
SHANGHAI, Jun 12 (SMM) – Nonferrous metals mostly traded weakly on Tuesday June 12. SHFE nickel led losses and closed 0.61% lower. Copper dipped 0.52%. Tin and aluminium inched down, while zinc and lead went up slightly. The ferrous complex rose across the board with coke leading the gains with a surge of nearly 4%. Coking coal jumped nearly 3%, rebar gained almost 2%, hot-rolled coil r...Read More
The Vancouver-based company is offering up to 12.87 million common shares, comprising 4.54 million flow-through shares at C66c each, for total gross proceeds of up to C$3 million, and 8.33 million ordinary common shares at C48c apiece, for gross proceeds C$4 million.Foran in December signed a technical services agreement with Glencore Canada to provide technical services and expertise to advance t...Read More
The deal will see CITIC Metal become Ivanhoe's single largest shareholder, besting founder and executive chairman Robert Friedland's 17% Ivanhoe stake.Read More
By funding US$1.56 million on exploration over two years, Stratex can earn an initial 51% of the two projects from Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3), with at least $560,000 to be committed in the first year.The work plan for the first stage includes infill trenching at Bakassi to better define key gol...Read More
The results expand the current east-west footprint to 2.2km wide and 1.7km long (north-south). Delineation drilling to date confirmed a 50m-140m-thick lithium-rich tuff unit, that points to the deposit's significant scale.The Toronto-based company reported that it had mapped and sampled a massive footprint for the lithium-bearing deposit, and the thick intersections of lithium-rich tuff had consis...Read More
Seaborne coking coal prices were stable on Tuesday June 12, but trading activity in the second-tier segment is picking up, market sources said. A 40,000-tonne cargo of a second-tier product was heard to have been traded at around $182 per tonne fob Australia. Offers for premium hard coking coal remained above $200 per tonne cfr China, though there were no firm bids heard during the day. A cargo of...Read More
MOD said visible sulphides in intermittent veins were seen in a 90m interval from 360m downhole, with the hole being deepened and assaying still to be undertaken.Read More
SHANGHAI, Jun 12 (SMM) –Copper: Longs were keen to take profit and left after the previous surges in copper prices. Unionised workers at BHP’s Spence copper mine in northern Chile approved a new labour contract on Monday, which pushed some speculative longs to leave the market.With a widely expected hike in interest rates and as the US dollar stabilised, copper prices are likely t...Read More
Recent headline hits below the Martha pit included 5m grading 65.3g/t gold and 100g/t silver, with the company having a current exploration target of 3.5-5 million tonnes grading between 5-7g/t gold for 500,000oz to 700,000oz of gold.Read More