The iron ore price (62% Fe CFR China) stood at US$86.42 on Monday morning, up 10.3% from its low of US$78.33 on February 3.RBC said steel inventories were now 42% higher than they had been historically at this time of year."With blast furnaces unable to effectively curtail production, and with what appears to be a slower restart to economic activity than we perhaps thought a couple of weeks ago, t...Read More
Hinda Gharbi and Jennifer Nason will join the board from March 1, while Ngaire Woods CBE will join on September 1.Gharbi, who has dual Australian-Tunisian nationality, is executive vice president of reservoir and infrastructure at Schlumberger.Adelaide-born Nason is a global chair at JP Morgan, based in New York.Dual New Zealand and British citizen Woods, a professor of global economic governance...Read More
A modest improvement in results for miners within the Responsible Mining Index for 2020 has been tarnished by an underlying impression of ‘sustainability washing', according to the Suisse-based Responsible Mining Foundation.The index, which covers 38 major mining groups and 28% of the world's production across 45 countries, takes an evidence-based approached to reviewing economic, environmen...Read More
Share this articleVANCOUVER - Tensions over Indigenous rights, climate change and resource development that have escalated recently with the rail blockades helped push Teck Resources Ltd. to shelve its massive oilsands project, company CEO Don Lindsay said Monday."Literally over the past few days, it has become increasingly clear that there is no constructive path forward," he said, speaking...Read More
Share this articleVANCOUVER - Shares in Teck Resources Ltd. are trading down four per cent after the company said it had withdrawn its application for a massive oilsands mining project citing uncertainty over climate policies.The Vancouver-based company said it will take a $1.13-billion writedown on the Frontier project in Alberta, which was expected to create thousands of jobs but was also pr...Read More
This is a continuation of an article we published on Friday. To read the first part, click here. But here is a very brief summary:Both optimistic and pessimistic hype is rampant in investment markets and mainstream media. And if you're not careful, buying into this hype can cost you dearly.Last week, we defined market hype as the intentional and aggressive promotion of a stock or sector with exagg...Read More
By: Gary SavageGeneral market updates on today's big down-move. This video update includes: $ES, $AAPL, $COMPRead More
- Dave KranzlerAnd it's not just gold. The Fed is already hinting that more money printing is coming. Powell suggested at his semi-annual Congressional testimony that QE would be used in the next recession. A couple other Fed officials this week confirmed that the FOMC is preparing to crank up the printing press even more than it has been running since mid-September.But why does the Fed fe...Read More
David HaggithWho says there is no recession anywhere in sight? It depends on where you are looking. In short, manufacturing remains in recession; corporate profits remain in recession; freight remains deep in recession; Carmageddon remains in recession; and the Retail Apocalypse remains a recession for brick-and-mortar stores, while employment the last holdout is now also turning d...Read More
StrengthsThe best performing metal this week was palladium, up 11.52 percent as precious metals had a stellar week. Gold hit a seven-year high this week, holding above $1,600 an ounce to the highest since February 2013 largely on coronavirus fears. The metal also rose on speculation that the Federal Reserve will ease monetary policy before year-end. Gold remained strong even as the U.S. dollar a...Read More
Clive MaundIf you are wondering why gold is starting to accelerate away to the upside, you need look no farther than the following amazing chart forwarded to me by reader Larry Fike, which Larry has kindly given me permission to reproduce in this update...Click on chart to popup a larger, clearer version.Chart courtesy of Larry FikeThe chart speaks for itself and requires little additional comme...Read More
Now that we are hearing stories about the viral threat of superspreaders, of deepening economic paralysis around the world, and how it could take 18 months to produce a vaccine, investors' show of bravado in recent weeks seems to have melted away. Shares got hit across-the-board on Thursday and Friday, and if investors know what's good for them they'll pound the bejeezus out of them this week. A...Read More
Gold April reached a high of $1684.10 early morning (at New Zealand open). Silver march reached at high of $1879.50. Copper march fell to a low of $256.50. Crude oil fell to a low of $51.66. Early morning high (just after New Zealand open) can be fake or just stop loss hitting price moves. No doubt the trend for gold and silver is bullish. BUT still they have to break and trade over early mornin...Read More
The following article was published in 2015 on this site.....note that the cycle performed as a cycle had forecast (and we hoped). It certainly was deadly accurate wasn't it? That cycle never said just to "load up" and "watch the gold stocks rocket up" to everyone's benefit and fortune. Rather it was a sign to carefully accumulate metals stocks that were well researched and to "dollar cost average...Read More
This new finding of SilverCrest Metals and its potential to improve the upcoming project feasibility study are described in a ROTH Capital Partners report. In a Feb. 18 research note, ROTH Capital Partners analyst Jake Sekelsky reported that SilverCrest Metals Inc. (SIL:TSX.V; SILV:NYSE.American) discovered an expanse of new high-grade mineralization at its Las Chispas project in Mexico, which it...Read More
Black Tusk Resources will further analyze and conduct ground follow-up of the findings. In a news release, Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) announced that results from a magnetometer survey of its McKenzie East gold project in Quebec showed highly detailed magnetic features.The survey revealed "a complex pattern relating to the geological setting," the release noted. H...Read More
With this development, the project moves back to the core of Eldorado Gold's portfolio. Eldorado Gold Corp. (ELD:TSX; EGO:NYSE) announced in a news release that optimization and testing extended the mine life of its Kisladag project in Turkey to 15 years, through 2034.This development, which follows long-cycle heap leach testing and swapping out the tertiary crushing circuit for a high-pressure g...Read More
In this interview with Maurice Jackson of Proven and Probable, Millrock Resources' CEO describes the company's prospects in Alaska's Goodpaster gold district and how a new joint venture improves the value proposition.Maurice Jackson: Today we will focus on a premier project generator that is conducting quite an intriguing exploration program in the prolific Tintina Gold Province of Alaska. Joining...Read More
Sector expert Michael Ballanger charts the latest changes in the markets and prognosticates on when and why silver prices should make a move. One of my good friends from the 1980s and 1990s was the late Ian McAvity, a superb technical analyst, a founder of Central Fund of Canada, a Bay Street Mover and, most importantly, a humble and thoroughly enjoyable man. He was the first newsletter writer th...Read More
Silver is still in consolidation mode since early September, but it appears ready to rally over a sustained period of time.On the chart there appears to have formed some fractals. The current one has also broken out at the black line recently (just after point C).As expected, price survived the test of the 50-day moving average, and is looking really bullish. If the comparison remains valid, then...Read More