RAPAPORT... Mountain Province has delayed its year-end results by a week due to the effects of the coronavirus, the Canadian diamond miner said Monday.The company and its auditors have been unable to complete the relevant work in time for the March 16 release date due to travel restrictions and self-isolation, it noted. The outbreak has not disrupted operations at its Gahcho Ku?(C) mine in th...Read More
RAPAPORT... The impact of the coronavirus on US retail supply chains may be larger than previously expected, as disruptions to transportation are likely to affect imports in March and April, the National Retail Federation (NRF) said.The NRF was already predicting a sharp drop in imports of goods from mainland China due to factory shutdowns and travel restrictions. However, as the virus spreads, sh...Read More
RAPAPORT... Diamond resources at Lucapa Diamond Company's Lulo alluvial mine in Angola are 25% higher than it originally estimated, according to an independent valuation.Lulo has 100,700 carats remaining in the mine, a December 2019 study by external consulting company Z Star Mineral Resource Consultants has found. That figure was reevaluated from a previous Lulo resource estimation conducted in D...Read More
(IDEX Online) - Pandora, the affordable jewelry retailer, today withdrew its financial guidance for 2020 saying it was "no longer meaningful" in light of the coronavirus pandemic.It also announced it had axed plans to buy back further shares.The Denmark-based company has 7,400 outlets and 28,000 employees, half of them manufacturing its goods in Thailand.Like-for-like sales in China had fallen bet...Read More
(IDEX Online) - GSI is to offer grading reports which identify enhancements to lab-grown diamondsIt says the move will increase consumer confidence by providing buyers with reliable information.The New York-based laboratory says that unlike other labs, it will disclose whether a diamond has undergone post-growth treatments or enhancements.Their reports include the same essential information a...Read More
(IDEX Online) - Estimated diamond reserves at the Lulo mine, in Angola, have been revised up by 25 per cent.Independent consultants have assessed in-situ resources as 100,700 carats, more than five times the 2019 output of around 19,000 carats.They also say the average dollar per carat value is 14 per cent higher than previously thought, up from $1,420 to $1,620.The Australia-based Lucapa Diamond...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSoap and avoiding unnecessary social contact have become mantras as there are now more than 145,369 cases confirmed and 5,429 deaths, but on the positive side of the ledger, 71,694 people haveRead More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSimich acquired another 50,300 shares for A$181,714 between Wednesday and Friday of last week, paying an average of $3.61 per share. Sandfire shares fell as low as $3.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resources"Since January the movement of goods and people within Mongolia have been restricted within and across its border and this has further escalated recently as the first case of COVID-19 has occurred in the country," said Rio."Work on the underground project continues, however, progress is being slowed as a result of these measures,"...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe index put February's average at 91.5, up 1.4 from January.However it was a smaller gain for February than in previous years, of 1.6 to 90.6 in February 2019 and a gain of 2.1 to 94.1 a year earlier.Artemis all set thanks to unique approachSPONSOREDartemis resourcesObservations included China's smelter activity continued to be s...Read More
The rout in the markets continued in early trading today, Monday March 16, with Asian equity indices down significantly and the pre-market Dow Jones Industrial Average Index (DJIA) futures already down by its 5% limit.Three-month base metals prices on the London Metal Exchange are down across the board by an average of 1.2%, in high volume of 11,892 lots, as at 6.43am London time. * Bank of Japan...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down the limit of 128.50 points. Index futures responded to rising coronavirus concerns in Europe and North America.Index futures moved lower despite strong action by the Federal Reserve yesterday. The Fed Fund Rate was slashed 1.00% to 0.00-0.25%.Consensus for March Empire State Manufacture Survey released at 8:30 AM EDT...Read More
QUESTION: You say that the reason why gold went up when the stock market crashed in 1929 is because gold was money back then. But what if you have it the other way around, and the reason why the USD was strong was because it was backed by gold back then? Now the USD is a fiat currency backed by nothing. Maybe the springboard bounce in prices will be in commodities?RRANSWER: Gold acts completely di...Read More
An induced polarization (IP) survey completed at Maple Gold's (TSXV: MGM) 355-sq.-km Douay gold project in Quebec has expanded the 531 Zone target area and identified a new and undrilled target over 600 metres of strike. In addition, one of two holes drilled to deepen a hole from 2019 intercepted a higher-grade narrow zone of mineralization, returning 3.5 metres of 5.96 grams gold per tonne.The s...Read More
Alamos Gold (TSX: AGI) has announced that it has entered into an agreement to acquire a 3% net smelter return (NSR) royalty on production from four claims at its Island Gold mine in Ontario for $75 million, reducing its company-wide cost guidance for this year by US$13 per ounce.The royalty, acquired from a private company, covered 71% of the current project reserves and a further 1.1 million oz....Read More
Lundin Mining (TSX: LUN) has put the brakes on zinc expansion activities at its Neves-Corvo operation in Portugal, joining the rising number of companies taking precautionary steps in the face of the global spread of the novel coronavirus."As the workforce for the project includes many contract employees who travel from other regions of Portugal and internationally, the risk is that the virus coul...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesMICROMINE STRENGTHENS DATA MANAGEMENT SOLUTION WITH Geobank 2020SPONSOREDmicromineOne possible answer to this unexpected development is as worrying as anything to do with the virus whic...Read More
Alliance Magnesium, a private Canadian company focused on producing primary magnesium from serpentine mine tailings and secondary magnesium to make value-added products, has received enough funding for its commercial demonstration plant in Quebec.The magnesium production facility will have a capacity of up to 18,000 tonnes per year and produce primary magnesium ingots from serpentine and secondary...Read More
Canada Nickel Company (TSXV: CNC) has announced initial results from a mineralogical assessment of its Crawford nickel-cobalt project, located 40 km north of Timmins, Ontario.The first phase of mineral processing work at the deposit was used to determine the proportion of nickel contained within the nickel sulphide minerals pentlandite and heazlewoodite, and the nickel-iron allow mineral awaruite....Read More
As Euro Manganese (TSXV: EMN) advances feasibility studies at its wholly owned Chvaletice manganese project about 90 km east of Prague in the Czech Republic, it has also been lining up potential customers for planned output from its demonstration plant, which is projected to come online in late 2020.So far, the company has queued up five prospective customers for about 55% of the planned demonstra...Read More