China's domestic stainless steel prices fell in the week ended Wednesday November 4, with the market tracking weakness in nickel futures.The three-month nickel contract on the London Metal Exchange fell steadily over the past week and ended Wednesday's official trading session at $15,422 per tonne, down by $427 per tonne (2.7%) from $15,849 per tonne on October 28.The most-traded January stainless...Read More
Market participants in China are increasingly confident that Chinese authorities will revive steel scrap imports into the country in 2021 following the release of new domestic scrap classification standards.A draft of the new standards for ferrous and stainless scrap for China's domestic market was released late last month. Market participants expect these standards to be launched and implemented...Read More
It has been two weeks since South Africa's cabinet approved a chrome ore export tax to support its chrome sector, and Chinese buyers say they would have little option but to accept the higher costs. China is the world's largest chrome ore importer and would therefore bear the brunt once the export tax is carried through. But the East Asian country has no choice but to brace for the price rise beca...Read More
When Warren Buffett turned 90 on August 30, 2020, his net worth was US$82.6 billion. The chairman of Berkshire Hathaway, also known as the Oracle of Omaha, is one of the most successful investors of all time, if not the GOAT of investing. Investors want to have a slice of his brain to be as successful as the man.The famed American billionaire has been through several market crashes, such as the 19...Read More
Warren Buffett-led Berkshire Hathaway disclosed its stake in Canadian miner Barrick Gold (TSX:ABX)(NYSE:GOLD) in August. It’s turning out to be one of the best-performing stocks in the conglomerate’s investment portfolio.Barrick Gold reported its third-quarter earnings yesterday. Driven by higher gold production and higher prices, the miner’s adjusted earnings increased by a mass...Read More
Kinross Gold (TSX:K)(NYSE:KGC) stock spiked 8.4% on Thursday, thanks to its robust Q3 financial performance. The gold mining company’s revenues from metal sales jumped 29% year on year to US$1,131.3 million, reflecting higher average realized gold prices. The average realized gold price increased by 30% to US$1,908 per ounce in Q3 compared to US$1,476 per ounce in the year-ago quarter....Read More
The close US election race means the predicted "blue wave" following a Joe Biden victory may turn out to be more of a "blue ripple", says Jefferies, which is now expecting a "skinny" stimulus ofRead More
Emily King, founder of Prospector - a digital platform which uses AI to connect investors to mining companies - said the mining industry needed to communicate differently to attract individuals sheRead More
The price of gold sharply rallied yesterday, increasing more than 3.5% higher to over $1,950 an ounce - a six-week high for the yellow metal.Meanwhile, sister silver traded some 5% higher yesterday, selling now for over $25.50 an ounce.But yesterday's action in the precious metals market might be a bit short-lived.Precious metals rallied yesterday as the U.S. dollar fell and the pound sterling ros...Read More
The investment case for Nomad Royalty Company is made in a Velocity Trade Capital report. In a July 7 report, analyst Michael Siperco reported that Velocity Trade Capital initiated coverage on a new royalty entrant, Nomad Royalty Company Ltd. (NSR:TSX; NSRXF:OTCQX), with an Outperform rating and a CA$2.25 target price. In comparison, Nomad is trading at about CA$1.41 per share. "Nomad offers a pu...Read More
The currency markets have just announcedwhat is coming for silver. This was explained in my previousarticle.The USD/ZAR ratio has now broken down. Thissets silver up to finish the year with a very strong rally: Although silver has been strong since thepeak of the USD/ZAR ratio in April, this breakdown means that we are likely tosee an acceleration in price increases.This breakdown also means that...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRemote Pitram deployment puts miners in the driver's seat Amid Covid ClosuresSPONSOREDmicromine'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe company, which is advancing a pre-feasibility study on the project, said HPGR sh...Read More
Look beyond market approach to project valuations: van ZylLeadershipPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRemote Pitram deployment puts miners in the driver's seat Amid Covid ClosuresSPONSOREDmicromineThe close US election race means the predicted "blue wave" following a Joe Biden victory may turn out to...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The company, which secured the project in November 2019, said drilling outside the existing resource envelope had proven the mineralisation extended beyond the known deposit associated with the area'sRead More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Commenting in Newcrest's recently released September quarterly report, Biswas noted that Lihir was (again) to blame, but that there was now improved confidence in FY2021 production forecasts being metRead More
The Nikkei Average advanced 219.35 to 24,325.23 to a 24 month high. Globex Copper Miners (COPX) moved above $22.90 extending an intermediate uptrend.Lundin Mining (LUN.TO), a base metals producer moved above $8.55 extending an intermediate uptrend. Upcoming EventToday (November 6th) Jon Vialoux will present at the Money Show's Virtual Expo on the topic of "Using Seasonality to Invest During a Pand...Read More
Energy Fuels (TSX: EFR; NYSE: UUUU) has produced the first rare earth element (REE) carbonate concentrate on a pilot-scale at its wholly owned White Mesa mill in southeastern Utah, 508 km southeast of Salt Lake City.According to the company, it is the first REE concentrate produced from monazite sands in any significant quantity in North America in over 20 years. (Monazite is a naturally occurrin...Read More
Iamgold (TSX IMG; NYSE: IAG) has again lowered its production targets for the year, after suspending operations at its Westwood underground mine in southwestern Quebec following an earthquake.The Toronto-based miner now expects output to be in the range of 630,000-680,000 ounces.The company had revised its annual guidance down in March to 700,000 and 760,000 ounces. It further lowered it in May to...Read More
SilverCrest Metals (TSX: SIL; NYSE: SILV) has discovered a new high-grade zone at its wholly owned Las Chispas project in Mexico's Sonora state, 180 km northeast of Hermosillo.Named El Muerto, the new zone is the company's fourth discovery since the first quarter of 2019. Highlights include drill hole EM20-37, which intersected 2 metres grading 12.68 grams gold per tonne and 1,723.8 grams silver p...Read More
Kirkland Lake Gold's (TSX: Kl; NYSE: KL; ASX: KLA) acquisition of Detour Gold and its Detour Lake mine in Ontario earlier this year now accounts for more than 40% of the company's 2020 free cash flow."We are extremely pleased with the contribution already being made by Detour Lake mine, which generated US$231 million of free cash flow in the first eight months since the transaction," chief executi...Read More