Bloom Lake Mine. Image by Champion Iron. Champion Iron (TSX: CIA) has announced it will gradually ramp up operations at the Bloom Lake mine in Quebec after the provincial government declared mining to be a "priority service."On March 24, Champion announced the ramp down of operations following restrictions imposed by Quebec, now lifted. "The company continues to work with the surrounding First N...Read More
Rio remains the industry leader in technology. Image from Rio Tinto. Mining companies' will be able to weather the year despite the covid-19 pandemic, owing to having vastly streamlined their operations, cut debt and expenditures, and increased production efficiencies, Fitch Solutions forecasts in its most recent report. Fitch anticipates most metal prices faring worse than in 2019 and the glo...Read More
PHIL Rear Eject Body Credit: Philippi-Hagenbuch Philippi-Hagenbuch, a global leader in off-highway truck customization, has announced production of its patented Rear Eject Body will begin in Brazil in the second quarter of this year. The company's line of Rear Eject Bodies offers an ideal solution for challenging hauling applications in construction, mine reclamation, and underground hauling sett...Read More
Tesla CEO Elon Musk at groundbreaking ceremony at the Tesla Shanghai Gigafactory in January 2019. Credit: Tesla. China on Thursday announced changes to purchase incentives for electric and hybrid cars, locally referred to as new energy vehicles (NEV), which earlier this month was extended for two years until the end of 2022. Under the modified policy, subsidies are reduced year-on-year through t...Read More
4/24/20Gold MinersOn a technical note, GDX, GDXJ, and SIL (silver miners), put in a bearish "doji" yesterday on the daily charts. The "wick" that you can clearly see, most times indicates we've hit a temporary top in the larger gold and silver miners. I don't expect much of a pullback, but if you're looking to buy into producers that you missed much cheaper, you may get a slight discount from here...Read More
No uptick required for short selling! It's total insanity..... Shorting with no uptick required...creating chaos and damaging marketsThis first paragraph is a letter we received from a professional investor and money manager for many decades. As follows:The question is and always has been are the stock markets primarily for the investing public or for the banks' and brokerage houses' pr...Read More
Bob Moriarty ArchivesApr 24, 2020I’ve been pretty quiet about mining shares lately as I try to get a handle on what the real story is on the Coronavirus. That doesn’t mean the companies have been quiet and indeed they have not been. The Coronavirus story looks more and more like a scam on the part of big Pharma with each passing day so I will be doing more writing on it.Three of our ad...Read More
New World's first drilling at the project was headlined by 5.5m grading 2.5% copper and 11.8% zinc, and 3.9m at 4.2% copper and 11.Read More
March quarter production was 91,911 tonnes of copper, down 24% quarter-on-quarter, and 52,957t of zinc.Copper production was impacted by a 28% drop in output at Las Bambas in Peru to 73,319t due to operational challenges and community blockades which temporarily restricted inbound and outbound logistics.The site faced additional disruptions to mining and production activities due to maintenance re...Read More
Share this articleBarrick Gold Corp. says it will pursue all legal avenues to prevent what it's calling the "nationalization without due process" of its Porgera gold mine in Papua New Guinea.Barrick, the operator, and Zijin Mining Group of China each own 47.5 per cent of the open pit and underground gold mine.In a news release, Barrick says it applied for an extension of its special mining lease...Read More
Today is Thursday, April 23, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,735.65. It's up 0.18% from yesterday and up 36....Read More
Ubique Minerals (CSE: UBQ, OTCMKTS: GRNBF) is a zinc exploration company, focused on further exploring and developing their Daniel's Harbour zinc properties, strategically situated in Newfoundland, Canada. We learned from Dr. Gerald Harper, Director and CEO of Ubique Minerals, that Daniel's Harbor is a past-producing, very high-grade zinc mine that produced eight million tons of premium zinc conce...Read More
Today is Thursday, April 23, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Baker Hughes (NYSE: BKR), QEP Resources (NYSE: QEP), and Green Plains Partners LP (NASDAQ: GPP).Baker Hughes (NYSE: BKR)Baker Hughes (NYSE: BKR) is a $13.98 billion company today with a one-year return of -51.17%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-...Read More
Gold bulls rejoice!Bank of America just increased its 18-month price target for gold to $3,000 an ounce in a report this week titled, "The Fed Can't Print Gold."Analysts at BOA were already calling for higher gold prices, forecasting a record $2,000 per ounce. But due to an extreme amount of stimulus from central banks around the world stemming from the COVID-19 response, BOA now predicts the gold...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort282,26332,69240,929116,808396,881440,000470,502Change from Prior Reporting Period -4,354-1,4247,591-31-3663,2065,801Traders19960705759287160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,15822,656493,158 -13-2,6083,193 non reportable positionsChange from the pre...Read More
By Mike Gleason The metals complex showed relative stability this week as the oil market suffered a historic meltdown. West Texas Intermediate Crude crashed 70% at one point this week on the continuous contract, bringing prices briefly below $7 per barrel. By Thursday, prices were trading between $14 and $18 per barrel. The volatility on the May futures contract was even more extreme. On Monda...Read More
The gold miners' stocks surged to a major bull-market breakout this week! Powering decisively above their years-old secular resistance is a hugely-important technical event. It proves this gold-stock bull is alive and well, greatly improves sentiment, and puts this high-flying sector on countless more traders' radars. New bull highs fuel self-feeding bullish psychology, as speculators and...Read More
By Hubert Moolman 24 April 2020 After a more than 50-year bear market in gold stocks, things are coming together to create virtually perfect conditions for gold stocks. Gold prices are at (or near) all-time highs in most currencies, and will likely continue to rise over the coming years. Commodity prices are at lows and still falling. Deflationary pressures are enormous and will likely persis...Read More
By Richard (Rick) MillsAs the coronavirus pandemic continues to infect populations, though in some countries it is slowing, talk has shifted to re-opening economies, and to manufacturing a vaccine that drug companies hope will not only work, but can be distributed at large enough doses to provide immunity to a wide swath of the world's population. In their daily media briefings, health official...Read More
By: Gary SavageEquity markets are going to keep rallying, $ES / SP500 upside targets, see where our intermediate-top will be:Gary SavageRead More