Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
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Can you believe what’s happening? While Central Banks print trillions of new dollars, oil prices recently turned negative. It could be a Goldilocks environment for strong, well-capitalised miners like Barrick Gold (TSX:ABX).Even a modest rise in gold prices can have a tremendous impact on its bottom line — and oil is one of Barrick’s biggest expenses.Its profits could potentially...Read More
One of the few assets to have performed robustly during the coronavirus crisis is gold. The yellow metal has soared by 14% since the start of 2020 to be trading at over US$1,729 per ounce. There are signs that as the coronavirus fallout mounts, gold will rally higher. Some analysts are projecting that the precious metal could reach US$3,000 an ounce, as government stimulus weighs on fiat currencie...Read More
The Solwezi licences are located roughly 15 km from First Quantum Minerals' Kansanshi copper mine (pictured). Image: First Quantum Minerals. Rio Tinto (NYSE: RIO) has entered into an earn-in and joint venture agreement with Vancouver-based junior Midnight Sun Mining (TSXV: MMA), under which the Anglo-Australian miner can earn up to a 75% interest in the latter's Solwezi licenses.The Solwezi licen...Read More
The coronavirus market crash has not been as bad for some TSX stocks as it was on the broader markets. This top TSX stock has surged from close to $33 levels to its all-time high of $56, and that’s a staggering 70% surge in just about five weeks.Notably, the TSX Composite Index managed to gain just 5% in the same period. The top Canadian giant that outperformed broader markets by such a wide...Read More
After the Fukushima disaster, uranium was hammered below $20 per pound. It has been a long and brutal bear market. However, the tide might finally be turning. It recently hit a new four-year high. And Uranium Participation (TSX:U) offers a relatively safe way to profit from this opportunity.What makes uranium unique?As you probably know, uranium is used to fuel nuclear power plants.Utili...Read More
Plant site at Juanicipio. Image from MAG Silver. MAG Silver (TSX: MAG) announced on Monday it has arranged a non-brokered private placement with mining investor Eric Sprott, offering approximately 4.53 million common shares of the company at a price of C$13.25 ($9) per share for gross proceeds of C$60 million ($42m).Shares of MAG skyrocketed more than 17% during Monday's morning session to a six-...Read More
Porgera gold mine. (Image courtesy of Barrick Gold.) Zijin Mining, China's no.1 gold producer and second largest copper miner, has revised down its gold production guidance for 2020 after Papua New Guinea (PNG) refused to extend the mining lease for the Porgera mine it operates with Barrick Gold (TSX: ABX) (NYSE: GOLD). Zijin had forecast gold productionfor the year of 44 tonnes, rising to 42-47...Read More
(Image courtesy of the Minerals Council of Australia). The Australian Competition and Consumer Commission has given interim authorization to the Minerals Council of Australia, the Australian Aluminium Council and state resources bodies to jointly source safety equipment and spare parts for the operation of machinery and mining equipment.According to the Minerals Council, the decision implies that...Read More
Electric car. (Image by stux, Pixabay). Nano One Materials (TSX-V: NNO) announced that its high-performance lithium-ion battery cathode materials, which are produced at a low cost using proprietary technology, tested positively in solid-state batteries for electric vehicles.The largest single challenge for those working on solid-state batteries is being able to design a stable and commercially vi...Read More
Bob Moriarty ArchivesApr 27, 2020Every crisis needs a good name to be memorable. The events of September 11th, 2001 were a natural to be 911. But what do we call our current crisis to really reflect reality and be memorable at the same moment?It began as the Corona Virus. But should that be Corona Virus with a space or better put as Coronavirus? There seemed to be no consensus so the media and pub...Read More
The company previously set full-year mining services EBITDA guidance at $280-300 million.Read More
Share this articleVANCOUVER - Silvercorp Metals Inc. says it has struck a deal to buy Guyana Goldfields Inc. in a cash-and-shares transaction worth about $105 million.The two Canadian miners say the transaction will create a diversified company by combining Silvercorp's two underground silver mining operations in China with Guyana Goldfields' Aurora gold mining operation in Guyana.Guyana Goldf...Read More
With most of the country still under lockdown and COVID-19 still dominating all news, is it an appropriate time to expand the government's power to spy on its citizens?One federal judge in Maryland believes so.On Friday, U.S. District Judge Richard Bennett cleared a pilot program that would surveil Baltimore City residents using spy cameras attached to airplanes.Under the six-month pilot program u...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12April 27, 2020 The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future...Read More
COLORADO SPRINGS, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of one-third of a cent per common share for April 2020 payable on May 26, 2020 to shareholders of record as of May 11, 2020. Gold Resource Corporation is a gold and silver producer, developer and explorer with oper...Read More
Physical gold continued to catch a bid last week, trading above $1,760 an ounce, on a host of head-spinning economic news, from millions more Americans filing jobless claims to record money-printing to negative oil prices. The national average price for a gallon of gasoline fell further to $1.78 on Friday, down more than $1 a gallon from a year ago. But the lowest price in the country may belong...Read More