Key data from the Wednesday May 30 pricing session in Shanghai.Key drivers:- Limited spot availability of Jinchuan cobalt, a major cobalt brand, in China supported domestic metal prices despite weakening local futures prices. - Offers and deals for Jinchuan cobalt were about 600,000-610,000 yuan per tonne (equivalent to approximately $36.54-37.15 per lb China VAT-free) midweek; meanwhile imported...Read More
May 31, 2018 (Investorideas.com Newswire) Andrew Kaip, a BMO Capital Markets analyst, provided the outlook for this Canadian, growth-focused gold producer and the rationale for the updated metrics.In a May 29 research report, analyst Andrew Kaip indicated that BMO Capital Markets upgraded Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) to Outperform from Market Perform and raised its target price on t...Read More
Turkish steel mills have continued their transactions in the deep-sea scrap markets for June deliveries, with prices going down slightly and a further decrease expected, sources said on Thursday May 31.A steel mill in the Izmir region booked a UK cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $331.50 per tonne cfr, late on May 29. This was the second cargo booked late on Tuesday.As a result...Read More
Formation of a RadicalKings never impressed him. And Roger Williams was exposed to Kings from early in his life.As a youth, he worked for Sir Edward Coke, who was a lawyer, judge, and held other similar political posts in 17th century England. Williams accompanied him daily into the chambers of Parliament and other Councils.Coke trailblazed many decent government policies for the time. One was tha...Read More
A dismal economic situation in Turkey is piling pressure on prices in ferrous scrap markets around the world, delegates said at the Bureau of International Recycling (BIR) international conference in Barcelona. Sentiment among delegates was mainly downbeat during the four-day event in Spain. Ferrous scrap exporters pointed to a strong US dollar compared to key importer currencies and traders compl...Read More
May 30, 2018, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V:NEE) (the "Company") announces that the Company's interim consolidated financial results for the third fiscal quarter 2018 ended March 31, 2018 have been filed on SEDAR. The full version of the Condensed Interim Consolidated Financial Statements and Management's Discussion & Analysis can be viewed on the Company's website at w...Read More
Nomi Prins previews her talk at the Mises event in Ft. Worth this weekend (Mises.org/Dallas), based on her new book 'Collusion: How Central Bankers Rigged the World' (Mises.org/Collusion)-a damning indictment of how the Federal Reserve bullied other central banks and bailed out Wall Street in the wake of the 2008 financial crisis.Nomi Prins is an American author, journalist, and Senior Fellow at D...Read More
So go Deutsche Bank so goes the world? Deutsche is kind of like a combination of Lehman and AIG. It was just bailed out 6 months ago and it's ready for another, larger one. The global banking system is a lot like the electrical grid, losing one tower can cause a complete blackout. Losing several major power plants can cause the nation to go dark. Are the central bankers smart enough to avoid this...Read More
Precious metals expert Michael Ballanger dissects his volatility trades. One week ago today, I made the following commentary:"Finally, I am officially revisiting the "volatility trade" (VIX: CBOE Volatililty Index) but unlike February where I used the UVXY (ProShares Trust Ultra VIX Short) as my proxy for the increase in volatility, I am using the TVIX (VelocityShares Daily 2X VIX ST ETN) because...Read More
By Frank HolmesSerious gold investors know that May has historically been a weak month for the price of the yellow metal. For the 10-year and 30-year periods, the month delivered negative returns. The general decline in enthusiasm comes before the late summer rally in anticipation of Diwali and the Indian wedding season, when gifts of gold are considered auspicious. In the past, the fifth month...Read More
"We can ignore reality, but we cannot ignore the consequences of ignoring reality..."Source: Thequotepedia.comGuest Post by Gary Christenson of Deviant InvestorThe western world has ignored economic realities for decades.It's not a Republican or Democratic problem. Banking, power, fiat currencies, dishonest money and transfers of wealth are the issues.The consequences of ignoring reality are...Read More
Bob Moriarty of 321 Gold finds parallels between "A Tale of Two Cities" and resource investing. I'm told that is the most famous opening line of any book in English literature. It comes from Charles Dickens' "A Tale of Two Cities."The paragraph continues: "...it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of...Read More
Comex copper prices inched up in the US morning on Thursday May 31, after falling to a three-week low on Wednesday. Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 0.5 cents to $3.074 per lb. "Metals ended mixed yesterday, with copper falling to a three-week low...Read More
A Vancouver-based miner diversifies by adding a Brazilian portfolio to its Mexican project. Leagold's Los Filos MineLeagold Mining Corp. (LMC:TSX.V; LMCNF:OTCQX) announced on May 24 that it has closed its acquisition of Brio Gold. This is a major milestone in the company's goal to become a mid-tier gold producer with a focus on Latin America.The Brio acquisition brings three operating mines, a ne...Read More
Saudi Arabia and Russia just destroyed the oil price rally, potentially putting an end to all the speculation about what the group might do next. But higher production doesn’t necessarily mean higher oil prices are entirely out of the question, and in fact, the oil market is still faced with a ton of uncertainty. Higher oil production from the OPEC/non-OPEC group would seem to close off the...Read More
China's manufacturing purchasing managers' index (PMI) for May surprised to the upside at 51.9, having been expected to remain at April's level of 51.4, though the positivity surrounding this release has yet to filter through to base metals prices on the London Metal Exchange. Three-month base metals prices on the LME were for the most part little changed during morning trading on Thursday May 31....Read More
Brian Szeto, an analyst with PI Financial, relayed this gold explorer/developer's first pass at assessing its lead asset. Gold barsIn a May 29 research note, PI Financial analyst Brian Szeto reported that Revival Gold Inc. (RVG:TSX.V) announced an NI-43-101 compliant, maiden resource estimate for its flagship Beartrack gold project in Idaho; the resource estimate far exceeded PI Financial's forec...Read More
Theeuro plunged, the USD Index soared and gold… just stayed put. There was nomeaningful action except for the big intraday volatility that ended in a rathersmall decline. Can one infer anything at all from the above combination offactors? Yes, if one knows where to look.Let’sstart by recalling what was the likely reason behind the recent strength in theprecious metals in the first pla...Read More
May 30, 2018, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V:NEE) (the "Company") announces that the Company's interim consolidated financial results for the third fiscal quarter 2018 ended March 31, 2018 have been filed on SEDAR. The full version of the Condensed Interim Consolidated Financial Statements and Management's Discussion & Analysis can be viewed on the Company's website at w...Read More