Alamos Gold of Toronto is drilling more high grade intersections at the producing Island Gold mine 85 km northeast of Wawa. The company is focusing its attention on the Eastern, Main and Western extensions with both surface and underground drilling.Hole MH18-03 was drilled in the 500-metre gap between inferred resources of the Eastern and Main extensions. It assayed 46.11 g/t gold (26.81 g/t cut)...Read More
Alamos Gold of Toronto is drilling more high grade intersections at the producing Island Gold mine 85 km northeast of Wawa. The company is focusing its attention on the Eastern, Main and Western extensions with both surface and underground drilling.Hole MH18-03 was drilled in the 500-metre gap between inferred resources of the Eastern and Main extensions. It assayed 46.11 g/t gold (26.81 g/t cut)...Read More
In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense...Read More
Aluminium tied up in financing deals and collateral for loans, shortages and inventory draws will sustain prices in the physical market even as funds expecting sluggish demand sell derivatives.Financing deals involve buying aluminium now and selling it forward for a higher price and profit after storage and interest costs have been deducted. These deals are often on a monthly basis and rolled over...Read More
Stamps.com has struggled since its February bear gapShipping giant Stamps.com Inc. (NASDAQ:STMP) is getting slammed in this morning's trading, with the shares already down 54.3% at $38.07, fresh off a four-year low of $36.88. This comes after the company lowered its full-year revenue forecast, which is offsetting first-quarter adjusted profit and revenue beats. Brokerage firm Craig-Hallum quickly...Read More
The media company reported first-quarter earnings and revenue that beat analysts' expectations Shares of entertainment giant Fox Corp (NASDAQ:FOXA) are up in early trading, after the firm announced a first-quarter earnings beat, as well as year-over-year revenue growth that came in higher than analysts' estimates. The media concern's earnings report marks its first as a standalone company, after T...Read More
Investment in mineral exploration in Mexico hit a 12-year low last year, due mainly to social conflicts that forced some companies to halt operations, according to a report published this week by the country's mining chamber, Camimex.Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017Foreign and local companies invested about $38...Read More
Investment in mineral exploration in Mexico hit a 12-year low last year, due mainly to social conflicts that forced some companies to halt operations, according to a report published this week by the country's mining chamber, Camimex.Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017Foreign and local companies invested about $38...Read More
INTC is staring at its fourth straight loss Intel Corporation (NASDAQ:INTC) had an analyst day to forget yesterday, after the chip name forecast modest profit growth over the next three years. The gloomy forecast comes less than two weeks after INTC gapped lower after the company cut its 2019 revenue forecast to $69 billion from $71 billion.This has been followed by a downgrade to "market perf...Read More
Berenberg is targeting a nearly 20% slide for one retailerWedbush downgraded Abercrombie & Fitch Co. (NYSE:ANF) to "underperform" from "neutral," saying the retail stock is priced to "perfection." The brokerage firm also said it expects "measured guidance" when the clothing retailer reports earnings ahead of the open on Wednesday, May 29, as "data shows a sharp increase in discounting as the drive...Read More
Brazilian petrochemical company Braskem SA is preparing alternatives in the event the company is forced to stop its mining activities in the northeastern state of Alagoas, its chief executive officer said on Thursday.A report by the country's Geological Service released on Wednesday blamed mining by Braskem in the city of Maceio for damages to local real estate.State prosecutors requested last mon...Read More
Albemarle said on Thursday it is moving forward on a project it claims will boost its Chilean lithium production by 30% without extracting more brine from the environmentally sensitive Salar de Atacama, the world's driest desert.The company, the world's largest producer of the raw material used to make electric vehicle batteries, has teased the industry for more than a year that it has production-...Read More
Most analysts are already bullish on HOME stockAt Home Group Inc (NYSE:HOME) received new coverage from Berenberg this morning, with the brokerage firm issuing a "buy" recommendation and $30 price target. HOME shares were last seen trading at $22.81 after gaining ground from their year-to-date low a month ago, helped by reports that the home furnishing company is exploring a possible sale. On a y...Read More
South African gold production shrank for an 18th straight month in March, extending the longest run of contractions since the financial crisis.Output of the precious metal dropped 18% from a year earlier compared with a 21% decline in February, Pretoria-based Statistics South Africa said in a statement Thursday. Production contracted for 29 months through January 2009.Key InsightsSouth Africa used...Read More
ArcelorMittal, the world's largest steelmaker, cut its forecast for demand in its main market Europe on Thursday after lower steel prices depressed earnings at the start of the year.The Luxembourg-based company, which makes about 6 percent of the world's steel, announced on Monday it was temporarily reducing European steel output by 3 million tonnes on an annualised basis due to weak demand and in...Read More
Acacia Mining Plc saw a surge in gold production in April thanks chiefly to a 54-percent rise in output from its disputed North Mara gold mine in Tanzania.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania and had cut output by a third after the government banned the export of mineral concentrates in 2017.Barrick's Chief Executive Mark Bristow on Wedne...Read More
Acacia Mining Plc saw a surge in gold production in April thanks chiefly to a 54-percent rise in output from its disputed North Mara gold mine in Tanzania.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania and had cut output by a third after the government banned the export of mineral concentrates in 2017.Barrick's Chief Executive Mark Bristow on Wedne...Read More
Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the United States partly caused by the trade dispute between China and the U.S., Chief Executive Jean-S?(C)bastien Jacques said on Thursday.Jacques said that demand for Rio Tinto's products had not been impacted by the dispute, which is threatening to escalate this week.Chinese Vice Premier Liu He is s...Read More
The S&P and Nasdaq are on track for a fourth straight loss Despite eking out a win yesterday, Dow Jones Industrial Average (DJI) futures are pointed lower, withtrade tensions reignited following President Donald Trump's comments at a Florida rally Wednesday evening. Specifically, he said China "broke the deal," and "they can't do that, so they'll be paying." This, as Chinese Vice Premier Liu He he...Read More
AngloGold Ashanti Ltd. plans to sell its last South African mine, marking the exit of Anglo American Plc and the companies it spawned from the industry that created Africa's biggest economy.Anglo's creation in 1917 by Ernest Oppenheimer and the subsequent development of what was for decades the world's biggest gold industry underpinned the development of South Africa into the continent's preeminen...Read More