FirstMajestic Silver Corp. (NYSE: AG;TSX: FR) says it has set another “aggressive”exploration budget for 2018, with an estimated 183,000 meters of planneddrilling across six producing mines and the Plomosas silver project. This comesafter the company completed over 156,500 meters of drilling on 807 holes, a newcompany record, during 2017. First Majestic reports a new discovery at Ermit...Read More
Base and precious metals miner Hudbay Minerals (TSX, NYSE:HBM) has agreed to buy a series of mining properties in southern Peru near its Constancia copper mine, which will see the Canadian company expanding its footprint in the country, the world's second largest producer of the red metal.The Toronto-based miner has now the option to buy a 100% interest in the Caballito (formerly Katanga) and Mar...Read More
Base and precious metals miner Hudbay Minerals (TSX, NYSE:HBM) has agreed to buy a series of mining properties in southern Peru near its Constancia copper mine, which will see the Canadian company expanding its footprint in the country, the world's second largest producer of the red metal.The Toronto-based miner has now the option to buy a 100% interest in the Caballito (formerly Katanga) and Mar...Read More
LJUBLJANA, Jan 9 (Reuters) - Slovenia plans to reduce its public debt to a little more than 70 percent of gross domestic product this year, the Ministry of Finance told Reuters on Tuesday.The government wants to cut debt to 32.5 billion euros($38.78 billion), or 71.7 percent of GDP. Last year, debt fell to 75.2 percent of GDP from 78.5 percent in 2016, according to the October finance ministry est...Read More
U.S. stock futures are signaling a positive start, after all three major market indexes nabbed record highs on Monday. With little in the way of economic data for traders to digest, Wall Street is eyeing a rally in Japan and the latest corporate news. Retail stocks will likely remain in focus, with Target (TGT) the latest retailer to unveil its holiday sales numbers. The tech sector will also be f...Read More
* Microsoft halts some AMD chip Meltdown patches after PCs freeze* Target joins retailers that recorded strong holiday sales* Oil hits highest since May 2015 above $68 on tighter market* Futures up: Dow 60 pts, S&P 3.5 pts, Nasdaq 0.19 pts (Adds comment, details on companies, updates prices)By Sruthi ShankarJan 9 (Reuters) - The S&P 500 and the Dow were on track for a record open on Tuesda...Read More
* Tens of thousands of workers stage strikes on Tuesday* Further walkouts planned for Wednesday* IG Metall demands 6 pct higher pay, right to shorter hours* Labour leader says dispute may escalate over working hours (Adds number of workers on strike, companies affected, changes dateline)By Maria SheahanFRANKFURT, Jan 9 (Reuters) - German industrial workers widened industrial action on Tuesday, wit...Read More
By Natalia Zinets and AlessandraPrenticeKIEV, Jan 9 (Reuters) - A Dutch court has issued a provisional order to freeze the Netherlands-based companies of the flagship business group owned by Ukraine's richest man in connection with a long-running $820 million lawsuit.Systems Capital Management (SCM) is owned by Rinat Akhmetov, who has amassed a multi-billion dollar fortune through his conglomerate...Read More
MOSCOW, Jan 9 (Reuters) - Russia's Finance Ministry said on Tuesday it would offer 40 billion roubles ($701.2 million) worth of OFZ treasury bonds at two auctions on Wednesday.The ministry said it would offer 20 billion roubles of OFZs maturing in 2021 and 20 billion roubles of OFZs maturing in 2028 .($1 = 57.0420 roubles) (Reporting by Yelena Orekhova; Writing by Jack Stubbs; Editing by Vladimir...Read More
We've been recounting some of our top stock picks of 2017, last week looking back on our winning short position on Chipotle (CMG). On the long side, our traders also nailed a massive move in industrial stock Trinity Industries Inc (NYSE:TRN), which closed the year up nearly 35%. Here's a closer look at why we were bullish on TRN stock in 2017 and how its strong performance unfolded. What initially...Read More
(Adds detail from report)By Andrea HopkinsOTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.December's decline bucked a strong year for homebuilding, with total urban starts up 6.2 percent from 2016 as...Read More
Gold’s technical picture remainsconstructive even though a bounce in the U.S. dollar has pressured the preciousmetal lately, says Lukman Otunuga, research analyst at FXTM. “Gold found itself underpressure during Tuesday’s trading, amid renewed market expectations of higherU.S. interest rates this year,” the analyst says. Otunuga later adds: “Althoughgold may witness f...Read More
After years of pessimism, in 2017 I wrote an article about why I thought there were a few reasons to be positive about the mining industry (find it here), and I was really pleased with the reception it had, and conversations I had following on from it! So, to follow on from that, I wanted to take a look ahead at 2018, and the technologies I think are really disrupting the industry at the moment.Th...Read More
Mr. Jean Martineau reports DYNACOR ANNOUNCES DEBT-FREE STATUS AFTER EARLY REPAYMENT OF LONG-TERM CREDIT FACILITY Dynacor Gold Mines Inc. is now debt free. The final payments, on its long-term senior secured credit facilities, amounting to $1.9-million, were done in the last week of December, 2017. (All amounts refer to U.S. dollars.) During the last five months of 2017, Dynacor has made aggregate...Read More
Mr. Jean Martineau reports DYNACOR ANNOUNCES DEBT-FREE STATUS AFTER EARLY REPAYMENT OF LONG-TERM CREDIT FACILITY Dynacor Gold Mines Inc. is now debt free. The final payments, on its long-term senior secured credit facilities, amounting to $1.9-million, were done in the last week of December, 2017. (All amounts refer to U.S. dollars.) During the last five months of 2017, Dynacor has made aggregate...Read More
Watching the mortgage market over the last few years has been like watching paint dry but things are about to get interesting...new customers coming to market, interest rate changes and massive overhauls in technology are all reasons why investors are now watching closely. Peter Brodnicki of the Mortagage Advice Bureau (LON:MAB1) tells Proactive why intermediaries...or brokers...are now perfectly...Read More
(Kitco News) - Gold and silver, after a few attempts, were both unable to break up through their respective resistance levels of $1,322 and $17.22. The break-down of the euro/dollar trade through the 1.20 level initiated some profit taking in both metals yesterday. The 30-year U.S. bond broke above the 2% level yesterday, adding further pressure to the metals complex. The metals have remained resi...Read More
(Kitco News) - Gold and silver, after afew attempts, were both unable to break upthrough their respective resistance levels of $1,322 and $17.22. The break-downof the euro/dollar trade through the 1.20 level initiated some profit taking inboth metals yesterday. The 30-year U.S. bond broke above the 2% level yesterday, adding further pressure to the metals complex.The metals have remained resilient...Read More
OTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.The seasonally adjusted annual rate of starts declined to216,980 in December from November's downwardly revised 251,675. Economists had expected a declin...Read More
* Yen rises after Bank of Japan trims JGB purchases* Crude oil futures rise to highest since May 2015* Samsung's guidance disappoints, weighing on tech sector* Nikkei probes highest levels since November 1991* Europe helps world stocks extend flying start to year* Graphic: World FX rates in 2018 By Marc JonesLONDON, Jan 9 (Reuters) - A tweak to the Bank of Japan's bond-buying programme shunted the...Read More