Trading volume on the COMEX, however, remains extremely low...by Harvey Organ of Harvey Organ BlogMAY 12//GOLD UP $6.60 TO $1703.60//SILVER UP 5 CENTS TO $15.48//CORONAVIRUS UPDATE//OBAMAGATE REPLACES RUSSIAGATE AS OBAMA IS PLACED AT THE CENTRE OF THE SCANDAL//JIM SINCLAIR AND JOHN KIM..MUST VIEWS FOR TONIGHT//WAR OF WORDS ESCALATING BETWEEN CHINA AND THE USA//MANY SWAMP STORIES FOR YOU TONIGHT//G...Read More
NexGen Energy's Rook 1 project in Saskatchewan, Canada. Credit: NexGen Energy.NexGen Energy (TSX: NXE; NYSE: NXE) has signed a US$30 million financing agreement with Queen's Road Capital Investment (TSXV: QRC) and plans to use the funds to advance work at its flagship Arrow deposit, part of the company's Rook 1 project in Saskatchewan."Warren Gilman, chairman and chief executive officer of Queen's...Read More
RAPAPORT... Delgatto Diamond Finance Fund (DDFF) will provide presale financing for rough from BlueRock Diamonds' Kareevlei mine in South Africa to help boost liquidity until diamond prices recover.BlueRock will sell its monthly parcel of diamonds to DDFF at 70% of a stipulated value agreed by both parties, and pay 1.25% interest per month, BlueRock said Wednesday. The miner will then ha...Read More
RAPAPORT... Alrosa is in talks to sell a considerable volume of diamonds to Gokhran, Russia's precious metals and gems repository.The Yakutia municipality, which holds a stake in Alrosa, has proposed that Gokhran buy diamonds worth $1.7 billion from the mining company this year, Reuters and Russia-based Interfax news agency reported on Tuesday. A spokesperson for Alrosa confirmed the parties...Read More
RAPAPORT... Sotheby's will offer a selection of items from its New York Magnificent Jewels auction at a special online sale in June, after the coronavirus put the live event in jeopardy.Some pieces originally consigned for that sale, as well as for the New York Fine Jewels auction, are now set to go under the hammer from June 9 to 16. They will feature in the Important Jewels online auction t...Read More
RAPAPORT... Belgium's diamond trade fell to its lowest level on record in April as US orders dried up and the shutdown of the aviation industry made transporting goods almost impossible.Total diamond shipments in and out of Belgium slumped 89% year on year to $387.1 million as a collapse in trading in the first half of the month outweighed a slight revival in the second, according to the Antw...Read More
RAPAPORT... Christie's will auction a 28.86-carat diamond ring at its next Jewels Online sale, the largest D-color diamond ever offered online, the auction house said Wednesday.The emerald-cut, VVS1-clarity, type IIa stone is also the highest-priced lot ever offered for sale online at Christie's. The piece, which has a presale estimate of $1 million to $2 million, is set to go under the hamme...Read More
Lucapa Recovers 171-carat Diamond(IDEX Online) - Lucapa has recovered the fourth largest diamond since it started mining at Lulo, Angola, five years ago.The gem-quality white stone weighs 171-carat and is the 15th diamond over 100-carats from the mine.In February 2016, Lulo yielded an enormous 404.2-carat white diamond, the biggest ever recovered in Angola, and the biggest in the history of Austra...Read More
RAPAPORT... Rapaport is launching a new podcast dedicated to estate jewels as the sector gains popularity among consumers. Hosting the biweekly Jewelry Connoisseur Podcast is Editor in Chief Sonia Esther Soltani, with guests including estate dealers, historians, and best-selling authors. They will cover subjects ranging from eras such as Art Deco and Victorian to specific designers whose crea...Read More
(IDEX Online) - India's diamond industry is resuming limited production and is poised to clear an estimated $1bn inventory for export.Retailers have also begun a phased re-opening of a very small number of stores, with strict sanitizing rules. The current lockdown is in place until 17 May.A relaxation of rules by the regional government of Maharashtra state allows a limited return to wo...Read More
JOHANNESBURG (miningweekly.com) – Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report.The ICMM is an international organisation dedicated to a safe, fair and sustainable mining and metals industry and t...Read More
(IDEX Online) - Christie's is auctioning its most valuable ever lot online- a spectacular type IIa 28.86-carat diamond with a guide price of up to $2m.The incredibly rare, near-flawless, emerald-cut stone is VVS1 clarity, and the largest D-color stone Christie's has ever offered in an online-only sale.The auctioneers say increased online interest has encouraged them to offer more valuabl...Read More
Uncertainty about how the lifting of lockdowns will pan out, with some clusters of Covid-19 infections being seen in countries where lockdowns have been lifted, is unsettling markets this morning, Wednesday May 13. As such, base metals prices along with equity markets have started to pull-back, or at least their rebounds are on hold. * Business loans for long-term investments drop by 15% in Europe...Read More
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Seven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesEditor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic fre...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points in pre-opening trade. Index futures are responding to news that the Democrat controlled House of Representatives has proposed an additional stimulus bill valued at over $3 trillion.Index futures were virtually unchanged following release of the April Producer Price Index at 8:30 AM EDT. Consensus is that the...Read More
- Detailed gravity surveys never previously performed over the project area- Gravity report interpretation shows good correlation between previously mapped and interpreted structural zones- Several areas of potential system-related alteration, including possible signs of dolomitization, identified for field follow-upELKO, Nevada, May 13, 2020 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "...Read More
Canadian authorities may launch a national security review of the imminent merger between Endeavour Mining (TSX: EDV) and Semafo (TSX: SMF), which would create West Africa's top gold producer.The proposed deal would bring together six mines into one portfolio, with a combined production estimated at over 1 million ounces a year.In a financial update, Quebec-based Semafo said the director of invest...Read More
First Vanadium (TSXV: FVAN; US-OTC: FVANF) has completed a preliminary economic assessment (PEA) for its Carlin vanadium project in Elko County, 10 km south of the town of Carlin in north-central Nevada."Getting to the PEA level for Carlin was a significant milestone for us and is a key part of the process for unlocking the value of the project," Paul Cowley, the company's president and CEO, said...Read More
Gran Colombia Gold (TSX: GCM; US-OTC: TPRFF) has emerged as the latest suitor eyeing Guyana Goldfields (TSX: GUY; US-OTC: GUYFF) in a recently tabled three-way merger proposal that includes its 19%-owned Gold X Mining (TSX-V: GLDX; US-OTC: SSPFX) to create a new mid-tier, South America-focused gold producer with operations in Colombia and Guyana.Gran Colombia's offer of 0.142 of a share for each G...Read More