The Monday Market Minute U.S. Treasury Secretary Steve Mnuchin says US-China trade war "on hold"Asia stocks rally as China says it didn't "fold" and that U.S. is prepared to talkU.S. Dollar hits fresh five month high as market optimism returns Oil prices extend gains as Venezuelan elections prompt sanction/supply threatDow Jones set for 200-plus point gain, could test 25,000 by session clos...Read More
The latest news and price moves to start the Asian day on Tuesday May 22.Base metals on the London Metal Exchange were predominantly higher at the close of trading on Monday May 21, with zinc and lead breaking through recent support and resisting the US dollar's six-month high. Read more in our live futures report.Here are how prices looked at the close of trading:Jiangxi Copper, China's larg...Read More
Eldorado Gold is deeply undervalued. It trades just for about one quarter of its book value.The reason for this valuation are continuous problems that have dogged the company in recent years.However, the situation seems to be improving, and the stock represents an opportunity for value investors.I wrote about Eldorado Gold (NYSE:EGO) before, as I found the company to be undervalued. Since then, th...Read More
The latest news and price moves to start the Asian day on Tuesday May 22.Base metals on the London Metal Exchange were predominantly higher at the close of trading on Monday May 21, with zinc and lead breaking through recent support and resisting the US dollar's six-month high. Read more in our live futures report.Here are how prices looked at the close of trading:Jiangxi Copper, China's larg...Read More
The major gold miners' stocks are still largely grinding sideways, mired in a bearish sentiment wasteland. Traders tend to assume low stock prices must be righteous, reflecting weak fundamentals rather than poor psychology. But once a quarter earnings seasons' bright fundamental sunlight parts the obscuring fogs of popular sentiment. The gold miners' just-reported Q1'18 results prove they rema...Read More
Gold is back below US$1,300 per ounce, and investors are wondering if the downward trend is going to continue through the end of 2018.Let's take a look at the current situation to see if this is a good time to own Barrick Gold Corp. (TSX:ABX)(NYSE:ABX) or any of the other miners.Gold volatilityGold peaked around US$1,900 per ounce back in September 2011. It then went into an extended downturn, bot...Read More
From the start of 2017, Katanga Mining Ltd. (TSX:KAT) stock has appreciated as much as 15 times when it hit a peak of ~$2.50 per share! The company has the potential to become Africa's largest copper producer and the world's largest cobalt producer.Cobalt is what investors are interested in, as it is an essential element for batteries in electric cars. And there's a long runway for the conversion...Read More
The major gold miners' stocks are still largely grinding sideways, mired in a bearish sentiment wasteland. Traders tend to assume low stock prices must be righteous, reflecting weak fundamentals rather than poor psychology. But once a quarter earnings seasons' bright fundamental sunlight parts the obscuring fogs of popular sentiment. The gold miners' just-reported Q1'18 results prove they rema...Read More
Weekly Reports |May 22 2018The spot uranium price jumped 5% last week to mark the biggest weekly move in six months.-Uranium spot price jumps 5%-US government sales suspension to be extended-Japan targets one fifth nuclear powerBy Greg PeelA total of 1.2mlbs U3O8 changed hands in the uranium spot market last week, industry consultant TradeTech reports, shaking the market out of its recent doldrums...Read More
Chugoku Electric Power Company has today requested permission from local governments to apply for pre-startup inspections of unit 3 at the Shimane nuclear power plant in Japan's Shimane prefecture. Construction of the 1373 MWe advanced boiling water reactor (ABWR) is nearing completion.Shimane 3 (Image: Hitachi-GE)Construction of Shimane 3 started in December 2005 and the unit had been scheduled t...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 22.Please click...Read More
Someone or some entity - likely a hedge fund - bought 4500 September $35-strike puts on XHB on Thursday last week when XHB was trading just above $39. That's a $225,000 speculative bet that the XHB drops more than 15% by mid-September.This morning Toll Brothers stock plunged over 7% this morning after reporting its FY Q2 earnings, missing the Wall Street brain trust consensus estimates on both rev...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comMay 22, 2018Gold continues to act superbly for eager buyers in this time of seasonal softness. Against a background of static mine supply, Chinese demand is strengthening slightly and Indian demand is moderately soft. The price action reflects these key fundamentals perfectly. Pleaseclick...Read More
The US Supreme Court is to consider whether federal law pre-empts Virginia's ban on uranium mining after finding in favour of a petition by Virginia Uranium, Inc against an earlier appeal court ruling. The court is expected to consider the question later this year.The latest round of court cases has centred on the contention by Virginia Uranium that the ban is based on concerns about radiation fr...Read More
The London Metal Exchange has confirmed that its "temporary conditional suspension" of Rusal-warranted metal will remain in place, Metal Bulletin has learned.The LME first announced the suspension on April 10 following the US' decision to sanction Oleg Deripaska and UC Rusal. The bourse specified that Rusal-warranted metal will remain under suspension unless deemed acceptable, highlighting that pr...Read More
Base metals on the London Metal Exchange were mixed at the close of trading on Tuesday May 22, with lead, copper and nickel prices rallying higher amid struggling performances elsewhere in the complex. Edging 2.6% higher, lead's three-month is leading the complex's gains, breaking above the resistance level at $2,400 per tonne.The metal is finding support from the open arbitrage between the LME an...Read More
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market. Chinese export prices soften on thin trading European vanadium prices remain under pressure amid profit-taking US FeV market grinds to a halt, prices flatThe Chinese vanadium expor...Read More
Two gold nuggets recovered from Pacton Gold's Arrow Project in the Pilbara region of Western Australia. Source: Pacton Gold Inc.Pacton Gold Inc. [PAC-TSXV; PACXF-OTC] shares rallied sharply Tuesday May 22 after the company said it has become the third largest land holder in Australia's Pilbara Gold Rush. The company said it has significantly expanded its gold-bearing conglomerate portfolio.Investo...Read More
Nighthawk Gold's exploration camp for its Colomac Project in the Northwest Territories. Source: Nighthawk Gold Corp.Nighthawk Gold Corp. [NHK-TSXV; MINZF-OTC] on Tuesday May 22 announced results from ongoing preliminary testwork its 100%-owned Colomac gold project in the Northwest Territories.Nighthawk Gold is taking a fresh look at Colomac amid speculation that former operator Royal Oak Mines may...Read More