Mr. Ivan Bebek reportsAURYN EXPANDS SOMBRERO DISTRICTAuryn Resources Inc. has staked a substantial land position in the Andahuaylas-Yauri belt in southern Peru. This area hosts significant large-scale porphyry and skarn deposits such as the Las Bambas, Tintaya, Antapaccay, Cotabambas, Los Chancas and Constancia deposits, as well as Auryn's undrilled Sombrero project. Approximately 60,000 hectares...Read More
Mr. Ivan Bebek reportsAURYN EXPANDS SOMBRERO DISTRICTAuryn Resources Inc. has staked a substantial land position in the Andahuaylas-Yauri belt in southern Peru. This area hosts significant large-scale porphyry and skarn deposits such as the Las Bambas, Tintaya, Antapaccay, Cotabambas, Los Chancas and Constancia deposits, as well as Auryn's undrilled Sombrero project. Approximately 60,000 hectares...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Initialweekly U.S. jobless claims fell by 24,000 to a seasonally adjusted 209,000in the week to Saturday, the Labor Department reported. This was the lowestlevel since December 1969.Consensusforecasts compiled by various news organizations had called for initial claimsto be around 230,000. The government revise...Read More
(Kitco News) - Gold and silver prices areslightly higher in early U.S. trading Thursday, as the precious metals aretrying to stabilize after selling off most of this week. Gold prices hit afour-week low on Wednesday. June Comex gold futures were last up $1.60 an ounceat $1,324.40. May Comex silver was last up $0.008 at $16.51 an ounce. Worldstock markets were mostly firmer overnight. U.S. stock in...Read More
LONDON (Reuters) - Oil rose on Thursday, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.Brent crude oil futures LCOc1 were last up 60 cents at $74.60 a barrel at 0930 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 43 cents at $68.48 per barrel.The oil price has risen by 15 percent in the last four weeks than...Read More
Canada's GoldCorp (TSX:G, NYSE:GG) is investing $3.7 million to acquire a 14% interest in a newly formed gold exploration company born Thursday from the merger of Matamec, Canada Strategic Metals and Sphinx Resources.The new explorer, named Quebec Precious Metals Corp. (QPM), will focus on the James Bay area, bordering the provinces of Quebec and Ontario, where it will own three projects until now...Read More
LONDON (Reuters) - Royal Dutch Shell reported on Thursday a 42 percent rise in first-quarter profit to its highest in more than three years on stronger oil prices and production, but its shares fell as the oil major’s cash flow missed forecasts.Expectations are high for Shell to continue generating strong profits and cash flow after the Anglo-Dutch company beat larger rival Exxon Mobil on bo...Read More
MILAN (Reuters) - Fiat Chrysler Automobiles (FCA) (FCHA.MI) reduced its debts by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year.Chief Executive Sergio Marchionne expects to cancel all debt during 2018 - possibly by the end of June - and generate around 4 billion euros ($5 billion) in net cash by the end of the year.Marchionne ha...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
ROME (Reuters) - Italy’s caretaker government on Thursday passed its latest multi-year economic plan, forecasting 1.5 percent growth this year, the same rate as in 2017 and confirming its previous projection made in September.Speaking after a Cabinet meeting, Economy Minister Pier Carlo Padoan said the government’s forecast was “prudent”.In 2019, gross domestic product is s...Read More
DETROIT (Reuters) - Ford Motor Co (F.N) on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers.The No. 2 U.S. automaker said it now plans to cut $25.5 billion in costs by 2022, up from $14 billion in cuts it announced last...Read More
(Kitco News) - TheEuropean Central Bank’s Governing Council Thursday left interest ratesunchanged.Therates on the main refinancing operations and the interest rates on the marginallending facility and the deposit facility will remain at 0.00%, 0.25% and minus0.40%, respectively.“TheGoverning Council expects the key ECB interest rates to remain at their presentlevels for an extended per...Read More
April 26 (Reuters) - Australia's biggest gold miner Newcrest Mining Ltd on Thursday cut its full year production forecast, while reporting a fall in third-quarter production.Newcrest now expects production of 2.25-2.35 million ounces of gold for the full-year ending June 30, down from 2.4 million to 2.7 million ounces expected earlier. It also downgraded guidance for its flagship Cadia mine which...Read More
As the U.S. dollar is breakingout to the upside, gold failed to hold the higher support level established acouple of weeks ago at $1,330. The dollar breakout should add pressure todollar-denominated commodities, especially the metals.Gold has struggled for months andthe new-found strength in the dollar is not going to be helpful for the priceof gold. The current price action in gold indicates that...Read More
As the U.S. dollar is breaking out to the upside, gold failed to hold the higher support level established a couple of weeks ago at $1,330. The dollar breakout should add pressure to dollar-denominated commodities, especially the metals. Gold has struggled for months and the new-found strength in the dollar is not going to be helpful for the price of gold. The current price action in gold indicate...Read More
OceanaGold Corp. (TSX/ASX: OGC) reports a higher first-quarterprofit as gold prices rose. The company lists net income of $44.5 million, or 7cents per share, that was up from $36 million, or 6 cents, in the same quartera year ago. The average realized gold price was $1,340 an ounce.“Operationally, gold production was generally in line with our expectations,despite a severe cold weather event...Read More
OceanaGold Corp. (TSX/ASX: OGC) reports a higher first-quarter profit as gold prices rose. The company lists net income of $44.5 million, or 7 cents per share, that was up from $36 million, or 6 cents, in the same quarter a year ago. The average realized gold price was $1,340 an ounce. “Operationally, gold production was generally in line with our expectations, despite a severe cold weather...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 115 G/T AU OVER 8.4 METRES AT LYNXOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and around...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 115 G/T AU OVER 8.4 METRES AT LYNXOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and around...Read More