Seabridge Gold reported that its 2020 drill program identified a potentially large gold-copper porphyry system at its Iskut project located near Stewart, British Columbia. Seabridge IskutIn a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced that "this year's core drilling at its 100% owned Iskut project in Northwestern British Columbia found indications of higher grade copper mi...Read More
Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, look at the macroeconomic factors they believe will move gold higher. The gold market entered a period of increased volatility during the third quarter, usually a positive indicator for the metal. A growing number of investors and analysts recommended the accumulation of gold as it began to move out of the shadows and into the spotlight. G...Read More
Shares of SSR Mining traded 10% higher after the company reported Q3/20 earnings and stated that it was on track with its full-year guidance to produce 680-760 Koz gold equivalent in FY/20. SSR Mining Inc. (SSRM:NASDAQ) today announced third quarter operating and consolidated financial results for the period ended September 30, 2020.The company's President and CEO Rod Antal commented, "With the t...Read More
With four gold projects in Nevada, Fremont Gold looks to make a new gold discovery in the state. Nevada's Carlin Trend is a behemoth, having produced more than 84 million ounces of gold since the 1960s. To get an idea of what is still in the ground, the Carlin Complex, operated by Nevada Gold Mines, the Barrick Gold and Newmont joint venture, sports a resource of 30 million ounces gold in the Mea...Read More
Cyon Exploration's project, in "Elephant Country," near the huge Cortez mining complex, offers the potential of both placer and hard-rock mining. Nevada's Cortez Trend is home to mega deposits, such as the Barrick Gold-Newmont JV Pipeline-Cortez complex that is estimated to have 45 million ounces of gold. Newly renamed Cyon Exploration Ltd. (CYON:TSX.V) formerly True Grit Resources recently acqui...Read More
Peter Krauth looks into what Pfizer and BioNTech's COVID-19 vaccine efficacy announcement could mean for gold and silver. Believe it or not, the big deal for precious metals this week was not the U.S. election.It was news that Pfizer and BioNTech's COVID-19 vaccine was over 90% effective in preventing the virus, and would likely be among the first to receive FDA authorization.Monday was massively...Read More
It's been a tough year for the COMEX silver market, where there's been constant pressure on supply & deliveries, and now there's one bank that's...Andrew Maguire with Chris Marcus of Arcadia EconomicsIt's been a tough year for the COMEX silver market, where there's been constant pressure on supply and deliveries.But in this month's update, #AndrewMaguire of Kinesis Money reports that now there's o...Read More
It will be interesting to see what the sales will reach for the remainder of the year as the markets continue to be volatile with... by Steve St Angelo of SRSrocco ReportAnother week and another 1 million Silver Eagles were sold by the U.S. Mint. In the first ten days of November, sales of Silver Eagles are nearly six times higher than the total for November 2019. With premiums now down in th...Read More
Sentiment improving as US consumers gain confidence following Biden election win. China strong with robust Singles' Day sales. E-commerce driving growth as jewelers invest in multi-channel platforms and adjust to remote selling strategies. De Beers values 2019 diamond jewelry demand +0.7% at $79B; estimates 1H 2020 US sales -40%, China -45%, India -30%. Christie's Geneva sells $37M (89% by lot). S...Read More
RAPAPORT... The pandemic didn't stop Alibaba from recording sales growth this Singles' Day, with the Chinese e-commerce giant enjoying a sharp rise in activity on its platforms during the week and a half running up to the shopping bonanza.Gross merchandise volume rose 26% to CNY 498.2 billion ($74.1 billion) during an 11-day campaign between November 1 and 11 compared with the same period in...Read More
RAPAPORT... Petra Diamonds is investigating allegations that security guards at its Williamson deposit in Tanzania carried out deadly violence against local artisanal miners.At least seven deaths and 41 assaults have taken place at the Williamson mine since Petra acquired it in 2009, according to a report UK-based nonprofit RAID released Thursday. Some of the alleged victims had entered land...Read More
RAPAPORT... Alrosa expects to maintain production at its current low levels next year, aiming to reduce inventories that built up during the pandemic.The Russian miner is discussing a production plan of 28 million to 30 million carats for 2021, which the board will consider next month, it said Thursday. Alrosa ended the third quarter with 30.6 million carats in its safes, up 41% year on year,...Read More
(IDEX Online) - A human rights watchdog claims seven people have been killed and 41 injured by security staff at Petra Diamond's Williamson mine, in Tanzania.It alleges there has been a catalog of "killings and brutal assaults" involving local artisanal miners since Petra acquired the deposit from De Beers in 2009. The government of Tanzania holds a 25 per cent stake in the mine.The report by...Read More
RAPAPORT... E-commerce sales in the US rebounded this week following an initial dip in spending after the presidential election, according to Adobe Analytics.On November 8, consumers spent $2.5 billion online, an increase of 26% year on year, Adobe noted Wednesday. The following day, sales climbed 24% year on year to $2.4 billion, and soared 27% on November 10 to reach $2.5 billion.Those figures r...Read More
(IDEX Online) - The largest vivid purple-pink diamond ever to appear at auction has sold for a record $26.6m.The ultra-rare 14.83-carat, internally flawless, oval-cut The Spirit of the Rose (pictured) went to an anonymous phone bidder yesterday at Sotheby's Geneva.It was cut from a 27.85-carat clear pink rough stone unearthed at Alrosa's Ebelyakh deposit in the Republic of Sakha (Yakutia...Read More
RAPAPORT... Alrosa's Spirit of the Rose has achieved the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million at Sotheby's Geneva.The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type II stone, named for the famous Russian ballet, sold for $26.6 million, beating its low estimate of $23 million. The diamond, whic...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The company said this week's "holing" had opened up the first two high grade, drift-and-fill mining blocks, totalling 10.6 million tonnes at 6.78% copper near the centre of the deposit.The second set of connection drives was expected to hole by June 2021, opening up an additional high-grade and medium-grade min...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Nova said it would acquire the existing NSR on the copper-nickel-platinum group metals project for up to US$6 million in cash and shares.Nova also yesterday announced a "best efforts" C$10 million raising at $1.45 per share and said it was also looking to list in the US.Scoped for growth: Nevada Copper shi...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsShares in the company soared 2,750% from a March low to a 12-month high at C62c per share before retreating to 20c, which capitalises it at $13 milli...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in pre-opening trade.Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EST. Consensus for the October Consumer Price Index was an increase of 0.1% versus a gain of 0.2%. Actual was unchanged. Excluding food and energy, consensus for the October Consumer Price Index was...Read More