LONDON, May 24 (Reuters) - Mining firm Petra Diamonds said it aims to raise $178 million to help cut its debt burden, and warned it could run low on working capital and breach its debt covenants if shareholders do not back the proposed rights issue.Petra, which last month finalised an agreement with its lenders for a waiver of its December 2017 debt covenant and a resetting of debt agreements for...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Alibaba stock seems ripe for a short squeezeAlibaba Group Holding Ltd (NYSE:BABA) is up 0.5% to trade at $197.75, after Raymond James issued a price-target hike to $300 from $250 earlier this morning. The brokerage firm called the e-commerce giant its "top large cap pick," and expects BABA will be the "biggest winner" from more robust Chinese e-commerce growth. The $300 price target represents...Read More
LONDON (Reuters) - Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC could wind down an output deal that has been in place since the start of 2017 due to concerns about supplies from Venezuela and Iran.Benchmark Brent LCOc1 futures were down $1.02 at $78.78 a barrel by 1353 GMT, the largest one-day fall since May 8, while U.S. crude futur...Read More
SEOUL (Reuters) - U.S. President Donald Trump on Thursday called off a planned summit with North Korean leader Kim Jong Un, even after North Korea followed through on a pledge to blow up tunnels at its nuclear test site.Referring to a scheduled June 12 meeting with Kim in Singapore, Trump said in a letter to the North Korean leader: “Sadly, based on the tremendous anger and open hostility di...Read More
The retailer gave weak current-quarter and full-year guidance, thoughThe busy stretch of retail earnings continues today, with L Brands Inc (NYSE:LB) among the latest to unveil its quarterly results. Last night, the Columbus, Ohio-based company reported better-than-expected first-quarter profit of 17 cents per share and revenue of $2.6 billion, sending LB shares up 1.6% to trade at $34.61.However,...Read More
(Kitco News)- Geopolitical uncertainty isback in the marketplace, boosting gold prices higher Thursday, as PresidentDonald Trump cancels his much-anticipated historic meeting with North KoreanLeader Kim Jong Un.“Trump's scuttling of the summit with North Korea is notsurprising, but it still produces an uptick in geopolitical uncertainty, whichis bullish for safe-haven gold and silver,”...Read More
ST PETERSBURG, May 24 (Reuters) - Polyus, Russia's largest gold producer, said on Thursday 2018 production was likely to be at the upper end of its forecast range of 2.375-2.425 million troy ounces.Chief Executive Pavel Grachev said on the sidelines of the St Petersburg economic forum that 2018 capital expenditure would be slightly below an initially planned $850 million because Polyus was ramping...Read More
ST PETERSBURG, May 24 (Reuters) - Polyus, Russia's largest gold producer, said on Thursday 2018 production was likely to be at the upper end of its forecast range of 2.375-2.425 million troy ounces.Chief Executive Pavel Grachev said on the sidelines of the St Petersburg economic forum that 2018 capital expenditure would be slightly below an initially planned $850 million because Polyus was ramping...Read More
WASHINGTON (Reuters) - U.S. lawmakers, including some Democrats, will receive classified briefings from FBI and intelligence officials on Thursday on an FBI probe into Russian election meddling after President Donald Trump made unsubstantiated claims about an informant being used against him.Two Republican lawmakers, and no Democrats, were expected to attend the first meeting to review classified...Read More
Politics & PolicyThe Gamble: If Gold Won't Go Up, Push the Dollar DownDean Acheson thought Roosevelt's plan in 1933 was a "sham." Part three of "American Default." by Sebastian EdwardsMore stories by Sebastian EdwardsRead More
Politics & PolicyThe Gamble: If Gold Won't Go Up, Push the Dollar DownDean Acheson thought Roosevelt's plan in 1933 was a "sham." Part three of "American Default." by Sebastian EdwardsMore stories by Sebastian EdwardsRead More
(Kitco News) - Gold prices are solidly higher, have pushed above the key $1,300level, and are near their daily highs in late-morning trading Thursday. Thesafe-haven metal added to early gains on news that U.S. President Donald Trumphas called off his summit meeting with North Korean President Kim Jong Un. Trump reportedly wrote the North Korean leader a letterstating the meeting on nuclear arms re...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday called off his planned June 12 summit meeting with North Korean leader Kim Jong Un in a letter released by the White House.“I was very much looking forward to being there with you,” Trump said in the letter. “Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is...Read More
(Kitco News) - Gold prices are solidly higher, have pushed to the key $1,300 level,and near their daily highs in late-morning trading Thursday. The safe-havenmetal added to early gains on news that U.S. President Donald Trump has calledoff his summit meeting with North Korea's leader, Kim Jong Un. Trump reportedlywrote the North Korean leader a letter stating the meeting on nuclear armsreduction f...Read More
(Reuters) - U.S. stocks opened flat on Thursday, weighed down by declines in energy stocks as oil prices fell and worries over protectionist trade policies.The Dow Jones Industrial Average .DJI fell 9.45 points, or 0.04 percent, at the open to 24,877.36. The S&P 500 .SPX opened lower by 2.35 points, or 0.09 percent, at 2,730.94. The Nasdaq Composite .IXICdropped 3.97 points, or 0.05 perce...Read More
SANTIAGO, May 24 (Reuters) - Chilean miner SQM said on Thursday that it would invest $525 million to boost its lithium production capacity in Chile through 2021 as demand for the key ingredient in electric vehicle batteries continues to surge.SQM , one of the world's largest producers of lithium and fertilizers, said it would be ready to produce as many as 180,000 metric tonnes of lithium in Chile...Read More