I was in Hawaii that day - the day the ballistic missile threat scared the living daylights out of every single person on the islands.My first thought was what have I done?How could I have brought my kids to Hawaii when I knew it was possible a crazy man could drop a nuke on one of the beautiful islands?My second thought was whether we needed to be more worried about our building coming down or th...Read More
Headline EPS grew 55% but basic EPS fell 40%.Production increased 5% and ore grades improved.The dividend yield is over 3%.Harmony has one of the strongest balance sheets in the gold mining industry.Harmony Gold (HMY) experienced a good first half with increased gold production and better ore grades. This South African miner is a great way for the American investor to buy into a company with a nic...Read More
Paulson owned 4.36 million shares in bullion-backed ETFBridgewater Associates added to its stake in SPDR GoldBillionaire hedge-fund manager John Paulson maintained his holding last quarter in SPDR Gold Shares, before prices of the metal capped the biggest annual gain in seven years.John PaulsonPhotographer: Rick Maiman/BloombergAs of Dec. 31, New York-based Paulson & Co. kept his sta...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellA lawsuit between Engold Mines Ltd. and its former president, featuring allegations of wrongful dismissal and fraud, looks to be headed for a full trial in the Supreme Court of British Columbia. On Tuesday, Feb. 13, a judge determined that parts of th...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Wednesday was a positive 84-67-139. The TSX Venture Exchange gained 14 points to 836 while polished diamond prices fell a full percentage point. Matt Manson's Stornoway Diamond Corp. (SWY) closed...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for March delivery gained $1.41 to $60.60 on the New York Merc, while Brent for April gained $1.64 to $64.36 (all figures in this para U.S.). Western Canadian Select traded at a discount of $26.45 to WTI...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange gained 14.99 points to 836.17 Wednesday. Marc Sontrop has listed his second capital pool shell, Aim2 Ventures Inc. (AIMV), with a $500,000 initial public offering at 10 cents. Today it rose nine cents to 19 cen...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold gained $20.90 to $1,350.20 on Wednesday. The TSX Venture Exchange added 14.99 points to 836.17 while the TSX Gold Index jumped 8.20 points to 191.58. Iamgold Corp. (IMG) led Canadian gold miners higher, adding 61 cen...Read More
The latest news and price moves to start the Asian day on Friday February 16.Base metals prices on the London Metal Exchange were broadly higher at the close on Thursday February 15, with only aluminium falling. Read more in our live futures report.Here are how LME prices looked at Thursday's close:Copper concentrate treatment and refining charges dropped marginally in the first half of Febru...Read More
A bipartisan letter from US Congress members Paul Cook and Albio Sires says the future of American investment in Guatemala is being threatened by corruption and impunity prevalent in the country. In the letter, Cook and Sires advise the Guatemalan government and President Jimmy Morales to take immediate action to fix the problem. They outline the consequences of what could follow with these unreso...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
It is difficult not to write about the political developments in southern Africa at a time when South Africa is embroiled in a titanic struggle to rid itself of the Zuma factor. Over the next few months, there will be more clarity about the political direction the country will take. All indications are, however, that a government without Zuma will be more business friendly, and that a Department o...Read More
The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is still within striking dis...Read More
It is difficult not to write about the political developments in southern Africa at a time when South Africa is embroiled in a titanic struggle to rid itself of the Zuma factor. Over the next few months, there will be more clarity about the political direction the country will take. All indications are, however, that a government without Zuma will be more business friendly, and that a Department o...Read More
The largest challenge facing the mining industry globally is the disconnect between investors’ timeframes and the timeframe to discover and develop mining projects, says exploration and development company NexGen Energy, the winner of nonprofit organisation the Prospectors & Developers Association of Canada’s (PDAC’s) Bill Dennis Award. “Long-term capital management is...Read More
Paladin Energy Ltd (ASX:PDN), the world's 8th largest uranium company, is back trading on the ASX today.The company regains its crown as the largest pure-play uranium producer trading on the ASX. Its reinstatement to official quotation follows the successful completion of a recapitalisation.READ: Paladin Energy to recommence trading on the ASX tomorrowPaladin currently sells uranium concentra...Read More
The three-month aluminium price rallied 2% to a two-week high on the London Metal Exchange at the close on Friday February 16, with spreads moving into a significant backwardation.The latest rally comes as news breaks that the US Department of Commerce has advised President Trump on tariffs on aluminium and steel. Secretary Ross has recommended three possible tariffs to President Trump: A tariff o...Read More
US Secretary of Commerce Wilbur Ross has recommended a series of import tariffs, in addition to existing duties in place, after compiling a report on the industry. - One tariff proposed includes at least 7.7% on all aluminium exports from all countries. - A second tariff proposed includes 23.6% on all products from China,...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsZinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months, with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs this week. A widening contango in forward price spreads on the LME is contributing to bullish...Read More
The week before the Dow/SPX quickly plunged 10%, the Fed had reduced its SOMA account (the SOMA account is its "QE" account) by $21 billion. Just as quickly as the stock market dropped, it has sharply recovered more than half of its losses from the previous week. As it turns out, the Fed added $11 billion back to its SOMA account. That's an $11 billion injection of cash directly into the banking...Read More