Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc. Wednesday saw European equities pull back and those in the United States initially followed, but then US stocks ended Wednesday with ga...Read More
China's domestic and export prices for stainless steel increased over the past week amid a strong nickel market. The three-month nickel contract on the London Metal Exchange ended Wednesday July 8's official trading session at $13,465 per tonne, up by $845 per tonne from $12,620 per tonne on July 1. This is the highest price since January 23. DomesticStainless steel cold-rolled coil 2mm grade 304...Read More
While mining is best known for supplying the world with precious and base metals, technology metals - such as lithium, cobalt and transition metals - are needed for advanced applications, such as electric vehicle batteries, superalloys and within consumer electronics. Below, we provide an overview of eight juniors with exposure to these elements. Auxico ResourcesAuxico Resources (CNSX: AUAG) is a...Read More
A new multimillion-dollar agreement between Baffinland Iron Mines and the Qikiqtani Inuit Association (QIA) that includes a substantial royalty increase, Inuit oversight of environmental monitoring and direct community benefits may have set a new standard for Indigenous involvement in mining projects.The parties' Inuit Certainty Agreement (ICA) will see the QIA's royalties from Baffinland's Mary R...Read More
Offers prices for Japanese scrap to the key Vietnam import market have increased after the results of the July Kanto Tetsugen auction were announced on the morning of Thursday July 9.The monthly auction concluded at an average of ?23,574 ($219) per tonne on an fas basis. The first winning bid was at ?23,600 per tonne fas for 12,000 tonnes of H2 scrap, while the second winning bid was at ?23,542...Read More
Import prices for containerized ferrous scrap in Taiwan started a recovery in the middle of this week amid increased demand, breaking an almost three-week downward streak.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $230-235 per tonne on Thursday July 9, up by $2-5 per tonne from $228-230 per tonne from...Read More
Export prices for Japanese steel scrap are showing clear signs of increasing again amid low supply following weeks of declines, market sources told Fastmarkets.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan was ?22,500-23,000 ($209-214) per tonne on Wednesday July 8, down by ?500 per tonne week on week.Buying activity has been muted in recent weeks, with market par...Read More
Almost all TSX stocks have shown a sharp recovery from their record lows in March. Canadian broader markets have soared around 40% in the last three months, marking one of the epic recoveries of all time.However, there are some stocks that are still trading way below their fair values and could be readying for a solid upside. So, if you have some cash, consider these TSX stocks with attractive gro...Read More
Kirkland Lake Gold (TSX:KL)(NYSE:KL) is an incredible gold stock. Since mid-2015, shares have exploded higher by 3,164%. That’s 30 times your money in just five years.This January, I’d named Kirkland my favourite gold investment of 2020. Year to date, shares are roughly flat. That’s an incredible outcome considering we just experienced one of the most disruptive economic shocks i...Read More
The ????pler mine in eastern Turkey. Image by Alacer Gold. SSR Mining (TSX: SSRM) and Alacer Gold (TSX: ASR)(ASX: AQG) announced Friday the receipt of shareholder approvals for the previously announced at-market merger. In May, Vancouver-based SSR Mining agreed to a deal to acquire its Canadian counterpart in an all-stock, zero-premium deal valued at C$2.4 billion ($1.7 billion).The business co...Read More
Image by Esa Niemel?? from Pixabay. ESG investing has grown roots; communities are more regularly finding their voices; governments want greater assurances around responsible practices; and employees want to work for companies that live up to these higher standards.This remains a frontier for miners. The fourth industrial revolution has, however, provided new tools to aid this transition toward b...Read More
Yellowknife Women's Society's covid-19 isolation shelter. Image from Rio Tinto. Rio Tinto is partnering with the Yellowknife Women's Society in Canada's Northwest Territories to support their covid-19 isolation shelter with a C$150,000 contribution, the company announced this week. As part of Rio Tinto's worldwide community investment in covid-19 relief initiatives, this funding will provide accom...Read More
Olympias tailings area in rehabilitation. (Image courtesy of Eldorado Gold) Eldorado Gold (TSX:ELD)(NYSE:EGO) announced on Friday a Q2 2020 preliminary production of 137,782 ounces of gold, a 50% increase over Q2 2019. Gold production at Kisladag mine in western Turkey increased by 130% over Q2 2019, and 19% over Q1 2020. Increased production was due to higher grade and tonnes of stacked ore an...Read More
Drill core. Image by QMX Gold. Infill drilling at QMX Gold's Bonnefond deposit in Quebec has intersected near-surface, high-grade gold. The company has released six drillhole assays from the eastern half of this deposit, which targeted shear zones around a deeper intrusive unit.The drill highlights include 4 metres of 6.02 g/t gold starting at 131 metres and 4.5 metres of 21.29 g/t gold startin...Read More
Midwest Resource Finance Group, whose sole director and shareholder is AustSino executive chairman Chun Ming Ding, has agreed to subscribe for 7.7 billion shares in AustSino at 1.3c each.Read More
Sales of rough and polished diamonds amounted to US$31.3 million in June, down 22% on the May figure. The company's monthly sales totalled just over US$400 million in January."June sales were expectedly low, as we continue making every effort to maintain stability of the diamond industry and support our customers," said Alrosa's deputy CEO Evgeny Agureev.Alrosa has been offering flexible sales ter...Read More
Revolution's flagship Schedule Optimisation Tool is said to be the industry's only financial optimisation tool for underground mines that lets mine planners improve productivity and profitability by optimising the net present value of the mine schedule.SOT came out of research by the Mining Innovation, Rehabilitation and Applied Research Corporation, a not-for-profit company of Laurentian Universi...Read More
Anaconda Mining Inc. (TSX:ANX, OTCQX:ANXGF) a production, development, and exploration Company, with mining and milling operations, in the prolific Baie Verte Mining District of Newfoundland, which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands, including those adjacent to the past producing, high-...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort337,03069,67254,030118,424421,016509,484544,718Change from Prior Reporting Period 8,0887,4001621,7272,8569,97710,418Traders22766895559318181 Small Speculators LongShortOpen Interest 63,29228,058572,776 1,17173011,148 non reportable positionsChange from the previous reporting peri...Read More