Earlier this week, precious metals markets got a surprising Buffettbounce. Legendary investor Warren Buffett isn’t often associated with gold– at least not in a positive way. In the past Buffett has made derisivecomments about the monetary metal. He once quipped that gold “has no utility.” A perpetual optimist on the U.S. economy, Buffett by nature doesn’tlike the mes...Read More
Be prepared for a very busy month of September-in terms of both price and activity... by Craig Hemke via Sprott Money NewsAs the "delivery month" of September nears for COMEX silver, let's take a look at where we stand and review again what it all means.This is a topic we've covered often thus far in 2020. Here at Sprott Money alone, I've written multiple articles detailing the breakdown of confi...Read More
Why has the physical turnover in COMEX silver been so extraordinarily large and persistent for all these years and not in any other commodity?by Ted Butler of Butler Research via Silver SeekFor those who have come to be convinced of the silver price manipulation, as well as those who remain unconvinced, I ask you to put aside all thoughts about derivatives trading, concentrated short positions and...Read More
RAPAPORT... Petra Diamonds will charge Indian customers an additional 2% to cover a new e-commerce tax that might apply to the miner's rough sales.India introduced the equalization levy on April 1, taxing all overseas e-commerce operators' sales of goods and services in the country. Petra is still trying to establish whether the tax affects its sales to Indian clients through its online biddi...Read More
RAPAPORT... India's Gem & Jewellery Export Promotion Council (GJEPC) has again urged members to avoid taking on unsellable diamond inventory, arguing that the industry's recent improvement has been only partial.While polished demand is increasing and some categories are in short supply, a full recovery faces obstacles, the council said in a statement Tuesday."A good part of the inventory...Read More
RAPAPORT... Sarine Technologies will trace Alrosa's rough diamonds from the mine through each point of their journey using technology already in play in the manufacturing sector."[The system] enables tracking diamonds originating from Alrosa, however traded and polished by multiple midstream entities," Sarine said last week. "It leverages Sarine's extensive installed base of technological solution...Read More
RAPAPORT... Technology provider Everledger has teamed up with the Gemological Institute of America (GIA) to verify diamond grading reports on e-commerce site JD.com, China's largest retailer.Everledger will synchronize the GIA's grading information to JD's existing anti-counterfeiting platform, giving consumers independently verified grading reports, the three organizations said in a joint st...Read More
(IDEX Online) - India's voluntary suspensions of rough imports have helped stabilize diamond prices, says Colin Shah, newly-appointed chairman of the GJEPC."Commodities across the world, including oil, have fallen but diamond prices have been stable," he said."This was the result of a conscious decision taken by the Indian diamond companies to cut down rough imports so that businesses c...Read More
(IDEX Online) - Talks to renew a 10-year agreement between De Beers and the Botswana government have been delayed by COVID-19 travel restrictions.They jointly operate the Debswana Diamond Company, which controls all diamond mining in Botswana, on a 50/50 basis, and which supplies around a quarter of the world's rough from its Damtshaa, Jwaneng, Letlhakane and Orapa mines.The government says n...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesA 2019 investigation by Codelco concluded it had been overcharged for 14 years between 2005 and 2018.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesGlencore owns 73.1%, First Quantum Minerals 16.9% and ZCCM-IH, Zambia's mining investment arm, 10% of the operation, which was shuttered briefly earlier this year.Mines minister Richard Musukwa told Reuters ZCCM-IH was seeking a larger stake "with a view to holding a controlling stake in Mopani".Artemis all set thanks to unique app...Read More
Workday (WDAY), a NASDAQ 100 stock moved above $200.00 and $202.00 extending an intermediate uptrend. Microsoft (MSFT), a Dow Jones Industrial Average stock moved above $217.12 to an all-time high extending an intermediate uptrend.U.S. Crude Oil ETN (USO) moved above $31.02 extending an intermediate uptrend. Pre-opening Comments for Wednesday August 26thU.S. equity index futures were higher t...Read More
QUESTION: In regards to your last post about Bitcoin and your comment that there may be a “threat regarding gold”, as well. What kind of threat do you think? If you own precious metals as a store of value and assume at some point you may need to use it to pay for things, they may have to get turned into dollars (or an alternative digital currency being forced) in order to buy product...Read More
Days after closing the acquisition of the Blackwater gold project in central British Columbia from producer New Gold (TSX: NGD; NYSE-AM: NGD), Artemis Gold (TSXV: ARTG) has released the results of a revised prefeasibility study on the asset.The latest study suggests a 23-year open pit operation, with a staged development. The first, five-year phase would be at a throughput of 5 million tonnes per...Read More
The first phase of drilling at Palladium One Mining's (TSXV: PDM; US-OTC: NKORF) wholly owned Lantinen Koillismaa (LK) project in north-central Finland has returned long mineralized intervals, starting at shallow depths. The latest results are from the Murtolampi zone, 2.5 km north of the Kaukua deposit at LK.Drill highlights from the nine holes reported include 87 metres of 1.43 grams per tonne p...Read More
Golden Minerals (TSX: AUMN; NYSE: AUMN) has released a second set of assays results from its Rodeo gold-silver project, 80 km west of its Velardena project in Mexico's Durango state.Highlights include 25 metres grading 6.66 grams gold per tonne and 13.9 grams silver per tonne starting at a depth of 8 metres in drill hole 20-012.Other notable assays include 21 metres grading 2.85 grams gold and 10....Read More
Skeena Resources (TSX: SKE; US-OTC: SKREF) plans to drill a combined 89,000 metres of exploration and infill drilling before the end of the year at its Eskay Creek gold-silver project in British Columbia's Golden Triangle and has completed 46 holes covering 24,000 metres since it restarted the drill program in July."In September we intend to add two more drill rigs, which will bring our rig count...Read More
South Africa's mines ministry has approved the sale of AngloGold Ashanti's (NYSE: AU; JSE: ANG) last remaining assets in the country to Harmony Gold (NYSE: HMY), on condition that it does not delist from the Johannesburg Stock Exchange.AngloGold announced the US$300 million sale earlier this year. The portfolio included Mponeng, the world's deepest gold mine and the company's last underground oper...Read More
RAPAPORT... India's major trade body has again urged members to avoid taking on unsellable diamond inventory, arguing that the industry's recent improvement has been only partial.While polished demand is increasing and some categories are in short supply, a full recovery faces obstacles, the Gem & Jewellery Export Promotion Council (GJEPC) said in a statement Tuesday."A good part of the i...Read More
Aug 28, 2020 Guest(s): Peter Hug Global Trading Director, Kitco Metals Despite Thursday's precious metal sell-off, conditions have not changed for gold and silver, said Peter Hug, division head for precious metals at Kitco.Speaking to Kitco News on Thursday, Hug said conditions are positive for gold due to the amount of fiscal support provided by banks."The macro picture has not changed. [Every]...Read More