And silver is still VERY SCARCE in the US!by Harvey Organ of Harvey Organ BlogJULY 28//GOLD CONTINUES TO GAIN: UP $13.25 TO $1948.85//SILVER DOWN 14 CENTS AS WE FINISH WITH COMEX EXPIRY//MINT SLOWS DOWN GOLD AND SILVER COIN SALES//CHINA VS USA//EUROPE VS USA//CORONAVIRUS UPDATE//SWAMP STORIES//GOLD: $: 1948.85 UP $13.25 The quote is London spot price (cash market)This is an all time highSi...Read More
RAPAPORT... The Diamond Club of Antwerp has reelected Thierry Polakiewicz as its president and named 13 other officers and board members.The club, founded in the 1890s, is one of the city's four bourses, and is primarily for traders of polished diamonds. It held its latest election earlier this month, confirming the following officers:President: Thierry PolakiewiczVice president: Philippe Bar...Read More
RAPAPORT... Kering reported weak jewelry sales during the first half of 2020 as a slowdown at its Europe-focused brands outweighed stronger figures in Asia.The group's Boucheron and Pomellato brands suffered from their exposure to the Western European market during Covid-19, Kering reported Monday. However, sales at Qeelin grew for the six months as demand recovered in mainland China when the...Read More
RAPAPORT... Weak rough demand and a devaluation of assets pushed Rio Tinto's diamond division further into the red in the first half of the year, the miner reported Wednesday.The unit recorded a net loss of $40 million for the six months ending June 30, compared with a loss of $5 million a year ago. Diamond sales fell 48% to $141 million for the period."The Covid-19 pandemic has significantly...Read More
RAPAPORT... Nine De Beers sightholders have committed to becoming carbon-neutral, aiming to align the manufacturing sector with environmental standards present elsewhere in the diamond industry.The participants will begin by assessing their current emissions, and will then develop a plan to reduce them in a sustainable way. They expressed their intentions in a virtual meeting Monday held by D...Read More
(IDEX Online) - The company behind Baselworld, the iconic but ill-fated trade show, has announced details of its successor - a new watch and jewelry event called HourUniverse.It will take place in Basel, Switzerland, in April 2021, timed to fit around other industry events, notably a rival event in Geneva by ex-Baselworld exhibitors Rolex and Patek Philippe.Organizers the MCH Group describe HourUn...Read More
(IDEX Online) - The Natural Color Diamond Association (NCDIA) has appointed ambassadors to promote what it describes as the rarest and most beautiful of all stones.They've been tasked with reinvigorating interest in a high-value market that has collapsed in recent months because of the COVID-19 pandemic.Alan Bronstein, president of the association, says a "United Nations" of ambassadors ...Read More
(IDEX Online) - Nine leading companies have announced their commitment to create a completely sustainable and responsible midstream diamond pipeline. They will develop "concrete road maps" to reduce their carbon emissions by reviewing all aspects of their businesses, including electricity sources, transport and distribution methods. The nine, all De Beers Sight Holders, agreed on the j...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThis compares with earnings of $87 million for the previous corresponding period.First Quantum said sales revenues for the quarter of about $1 billion was an increase of 8% from the comparable period of 2019, primarily driven by copper and gold sales from Cobre Panama and higher sales from Las Cruces, offset by lower realised coppe...Read More
Markets were for the most part consolidating this morning, Wednesday July 29, with base and precious metals prices mixed, albeit with the path of least resistance remaining to the upside.Traders are having to weigh up the continuing spread of the Covid-19 virus across the United States and pockets of second waves in other major economies and some disappointing economic news, against the prospects...Read More
Seagate Technologies (STX), a NASDAQ 100 stock moved below $45.93 and $45.50 setting an intermediate downtrend.Costar (CSGP), a NASDAQ 100 stock moved above $747.11 extending an intermediate uptrend.Pre-opening comments for Wednesday July 29thU.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.Investors are waiting for news on interest rat...Read More
88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.IronRidge shows its mettleSPONSOREDironridge resources Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesFar be it for me to ever feed fuel into a fire - and so this week I will refrain from commenting much about the gold...Read More
July 29, 2020 - Brixton Metals Corporation (TSXV: BBB) (the "Company" or "Brixton") provides an update on its Thorn Project exploration activities. Ongoing soil geochemical surveys and rock sampling has returned gold values up to 68.8 g/t Au from the West Outlaw target area where preparation for drilling has started.Due to strong investor demand Brixton is pleased to announce it has increased its...Read More
Copper Mountain Mining (TSX: CMMC) exceeded its revised operating plan for the second quarter of 2020, the Vancouver-based miner announced on Wednesday. The company operates three mines, one in British Columbia and two in Australia.Production for the three-month period reached 23.9 million lb. copper-equivalent, comprising of 18.1 million lb. copper, 7,499 oz. gold and 86,126 oz. silver.Revenues...Read More
Cameco (TSX: CCO; NYSE: CCJ) is planning to restart its Cigar Lake mine in northern Saskatchewan in early September, the Canadian uranium major announced.The restart of the mine, which has been placed on care and maintenance since March 23, will be dependent on several factors, the company said, including its ability to establish safe and stable operating protocols, as well as the availability of...Read More
Harte Gold's (TSX: HRT) Sugar Zone mine is back up and running, following a temporary shutdown at the end of March due to the Covid-19 pandemic.According to the company, longhole blasting and ore haulage rates underground are improving, and development and backfill activities are meeting or exceeding expectations. With a mill restart planned for August, Harte has built up a stockpile of feed for...Read More
With silver breaking out decisively to the upside, bears are running for cover.We had noted in our July 13th News Alert, “We are paying especially close attention to the bull vs. bear tug-of-war in the silver market around $19/oz. If the bulls yank prices decisively above that level on a strong close, short covering by capitulating bears could help drive a powerful breakout rally.”That...Read More
RAPAPORT... Kering reported weak jewelry sales during the first half of 2020 as a slowdown at its Europe-focused brands outweighed stronger figures in Asia.The group's Boucheron and Pomellato brands suffered from their exposure to the Western European market during Covid-19, Kering reported Monday. However, sales at Qeelin grew for the six months as demand recovered in mainland China when the...Read More
RAPAPORT... Weak rough demand and a devaluation of assets pushed Rio Tinto's diamond division further into the red in the first half of the year, the miner reported Wednesday.The unit recorded a net loss of $40 million for the six months ending June 30, compared with a loss of $5 million a year ago. Diamond sales fell 48% to $141 million for the period."The Covid-19 pandemic has significantly...Read More
Gold prices are now getting comfortable in their new record territory north of $1,950 per ounce.The flimsy foundation of global markets built on debt and low interest rates is getting battered by the winds of COVID-19.Already weak, with corporate earnings slowing since 2018, the abrupt halt in business and the jobless devastation that came with it has forced government and central banks to provide...Read More