Recent News

Uranium's Stealth Bull Market Garners Momentum / Commodities / Uranium

April 28, 2020 / marketoracle.co.uk

With the supply/demand balance moving in favor of miners, the outlook for uranium stocks is the brightest it has been in years, according to McAlinden Research Partners. SUMMARY: Uranium has been enjoying a stealth bull market due to the coronavirus outbreak. Temporary mine closures to slow the spread of the virus at production facilities have triggered an unexpected supply squeeze, sending the pr...Read More

Crash update next target 200 DMA

April 28, 2020 / news.goldseek.com

Gary Savage SPX rally heading for 3,000 area, a pullback and then a run for 3,200 area..Gary Savage https://blog.smartmoneytrackerpremium.com/Read More

Precious Metals Update Video: Gold Markets in a Consolidation Phase..

April 28, 2020 / news.goldseek.com

Ira EpsteinSettlement times come in at 1:30pm EST. Down day in energy, Oil ETF changes rules again, liquidating all front month-June contracts! Gold markets in a consolidation phase, Gold has a bear pattern but..Read More

Trader: Will The Big Move Lower In Silver Take Place Shortly, Or Immediately?

April 28, 2020 / www.silverdoctors.com

The implications are bearish for the following few weeks...by Przemyslaw Radomski via Sunshine ProfitsPractically everything that we wrote yesterday, remains up-to-date today. Consequently, we will quote some parts of the analysis, and we'll supplement them with additional discussion of the relative performance of various sectors, as we saw interesting details yesterday that further confirmed ou...Read More

Robert Buchbauer Takes Helm at Swarovski

April 28, 2020 / www.diamonds.net

RAPAPORT... Swarovski has appointed Robert Buchbauer CEO of the family-run business as part of a management reorganization.Buchbauer, who is the great-great grandson of company founder Daniel Swarovski, will retain his role as chairman of the executive board. The restructuring, which was implemented earlier this month, will streamline the crystal brand's various divisions under one entity, Sw...Read More

Dominion Asks for More Time to Repay Debts

April 28, 2020 / www.diamonds.net

RAPAPORT... Dominion Diamond Mines has requested an extension to the insolvency protection it was awarded last week, stating that it needs more time to restructure its finances or find new investment.The miner asked the Alberta Court of the Queen's Bench to delay its repayment deadline to June 1, according to a court filing Monday. The original order of protection gave the company - which own...Read More

Sarine Warns of Severe Earnings Impairment

April 28, 2020 / www.diamonds.net

RAPAPORT... Sarine Technologies expects the coronavirus pandemic to have a heavy impact on revenue in the second and third quarters amid shutdowns in its major markets. "We cannot yet forecast what our business results will be for the rest of [the second quarter] or the subsequent quarters of 2020," the maker of equipment used in diamond manufacturing said Sunday. "We are assuming that even f...Read More

Rough Market Faces Its Toughest Year Yet

April 28, 2020 / www.diamonds.net

RAPAPORT... As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium on rough buying. Ultimately, it helped the local trade realign inventory and gain market share while other manufacturing and trading center...Read More

Belgian Exports Slump as COVID-19 Hits US

April 28, 2020 / www.diamonds.net

RAPAPORT... Belgium's polished-diamond exports dropped 51% to $513.7 million in March, reflecting the impact of the coronavirus on global shipments.Exports to the US fell 47% to $152.9 million, according to data from the Antwerp World Diamond Centre, as the pandemic spread to North America. Shipments to the United Arab Emirates, Israel and Switzerland also fell. A 44% rise in exports to Hong...Read More

India's Cutting Sector Faces Decade-Low Sales

April 28, 2020 / www.diamonds.net

RAPAPORT... India's polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated Tuesday. This compares to approximately $19 billion in the fiscal year...Read More

Lucapa to raise about $5.25m

April 28, 2020 / www.miningweekly.com

ASX-listed Lucapa Diamond Company plans to undertake a nonrenounceable rights issue on a 1 for 5 basis with a free attaching options exercisable at $0.10 each and expiring two years from the date of issue.If fully subscribed, the intended rights issue will raise up to $5.25-million.AdvertisementThe funds will be used to advance the search for the primary kimberlite sources of the high-value Lulo m...Read More

Metals prices mixed but China's plan to subsidize inventory stockpiling likely to provide support

April 28, 2020 / www.metalbulletinresearch.com

Metals prices were consolidating during morning trading on Tuesday April 28 after the promising start to the week faded on Monday, but talk that Chinese provincial governments are offering to subsidize inventory accumulation could well turn out to be a supportive factor. The mixed performance this morning is widespread with Asian-Pacific and pre-market western equity indices on divergent paths, wh...Read More

COVID-19 impacts results, hedging brings benefit

April 28, 2020 / www.mining-journal.com

Artemis all set thanks to unique approachSPONSOREDartemis resourcesCopper production for the quarter increased 42.6% to 195,285 tonnes from 136,969t a year ago while gold production increased 39.4% to 68,788 ounces from 49,357oz.Read More

Freeport cuts copper sales outlook

April 28, 2020 / www.mining-journal.com

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here Consolidated copper sales were 0.7 billion pounds for the March quarter, with the 2020 estimate now put at 3.1Blb based on US$2.30/lb, down from January's 2020 esti...Read More

Ivanhoe hones focus on Kakula construction

April 28, 2020 / www.mining-journal.com

Artemis all set thanks to unique approachSPONSOREDartemis resourcesIvanhoe said this week underground development at Kakula had accelerated ahead of schedule, with 13.5km completed - 4.2km ahead of plan. The company said a new development record of 1.Read More

Tech Talk for Tuesday April 28th 2020

April 28, 2020 / www.timingthemarket.ca

U.S. equity index futures moved higher this morning. S&P 500 futures were up 37 points in pre-opening trade.Pfizer gained $0.77 to $39.10 after reporting higher than consensus first quarter earnings.Merck dropped $1.58 to $82.40 after lowering sales and earnings guidance for remainder of the year. UPS fell $3.58 to $99.00 after reporting lower than consensus first quarter revenues and earnings...Read More

First Quantum lowers 2020 guidance

April 28, 2020 / www.northernminer.com

With its Cobre Panama mine on care and maintenance since April 7, First Quantum Minerals (TSX: FM) has reduced its copper guidance for the year by 75,000 tonnes to 755,000-805,000 tonnes, with expected gold production falling by 30,000 oz. to 250-270,000 ounces. The forecast depends on officials allowing Cobre Panama to reopen by the end of May, with normal production levels being achieved in late...Read More

The Northern Miner Podcast - episode 184: Diamond troubles as the mining industry adjusts to COVID-19, ft Alisha Hiyate

April 28, 2020 / www.northernminer.com

This week's episode features Canadian Mining Journal editor-in-chief Alisha Hiyate, who discusses her experience at the Prospectors and Developers Association of Canada (PDAC) conference, as well as how the mining industry is adjusting to the COVID-19 pandemic. She also explains how the diamond industry is being negatively impacted by the breakdown in the supply chain, particularly in regard to th...Read More

US outlines strategy to support domestic nuclear energy sector

April 28, 2020 / www.northernminer.com

The U.S. Department of Energy recently released a roadmap for rebuilding the country's nuclear energy sector, including commitments to bolster domestic production of uranium, increase its enrichment as a fuel source and expand the export market for nuclear technologies.U.S. Secretary of Energy Dan Brouillette unveiled the strategy on April 23. The report: Strategy to Restore American Nuclear Energ...Read More

Extended lockdowns hit copper production

April 28, 2020 / www.northernminer.com

Peruvian copper mine Antamina, owned by BHP (NYSE: BHP; LSE: BHP) and Glencore (LSE: GLEN), has reported 210 positive cases of coronavirus and said the date to restart operations is still uncertain.One of the largest copper-zinc mines in the world, Antamina produced 101 million tonnes of copper in 2019.The announcement on April 27 comes after six workers at Fortuna Silver Mines' (NYSE: FSM) Cayllo...Read More

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