As U.S. markets re-open after the holiday, the world's "queen of assets" continues her glorious ascent to higher prices. Please click here now. Double-click to enlarge this magnificent short term gold chart.The rise above $1332 ushers in my new short-term target: $1355!Please click here now. Gold is well on its way to becoming a mainstream asset like stocks and bonds.The reason for that is the "...Read More
Katanga Mining (TSX: KAT; US-OTC: KATFF) lost $116 million in 2018's fourth quarter to end the year with $13.4 million in gross profit, a result of temporary cobalt sale suspensions, higher reagent costs at its Luilu metallurgical plant and increased mine infrastructure and support costs.The company says its fourth quarter loss was partly offset by higher copper sales in the quarter.The company re...Read More
Montreal-based Osisko Metals has released the maiden resource estimate for its Key Anacon and Gilmour South deposits, collectively the Eastern Bathurst Mining Camp (EBMC) project. The properties are located south of Bathurst.With a 5.5% zinc equivalent cut-off, indicated resources in the Key Anacon Main and Titan zones total 2.0 million tonnes grading 5.77% zinc, 2.38% lead, 0.22% copper, and 68.9...Read More
Canadian miner Hudbay Minerals (TSE: HBM) has plans to double the annual gold output from the Lalor gold-copper-zinc mine 13 km west of Snow Lake, Manitoba. As part of the plan the New Britannia mill will be refurbished at a cost of $95 million raising Lalor gold output to 140,000 oz. per year.The Lalor mine will then be joining the ranks of primary gold producers as one of the lowest sustaining...Read More
The US Army Corps of Engineers has released the Draft Environmental Impact Statement (DEIS), as required under the National Environmental Policy Act, for Northern Dynasty's (TSX: NDM; NYSE : NAK) Alaska Pebble project, one of the richest copper-gold deposits ever discovered.The DEIS is an important milestone and positive development for Vancouver-based Northern Dynasty, its subsidiary Pebble Limit...Read More
On Wednesday, hopes that an escalation of the trade war between the US and China can been avoided (or at least postponed) sparked a massive rally in mining stocks - already buoyed by climbing metals prices.US President Donald Trump said yesterday he may not increase tariffs on Chinese products on March 1, as talks about the trading relationship between the world's two largest economies continue in...Read More
Glencore on Wednesday said it would "vigorously contest" a $680 million tax demand from the British authorities linked to transfer pricing.The Swiss-based mining and trading company has offices in London and is London-listed. The British tax authorities issued formal transfer pricing, permanent establishment and diverted profits tax assessments for the 2008 - 2017 tax years, amounting to $680 mill...Read More
Glencore Plc reported its weakest trading profit in five years and missed analysts' earnings estimates, even as the mining giant promised to increase its rewards to shareholders after a tough year.The disappointing performance in the trading unit is a blow for Glencore, which has always said its traders can make money in any kind of market. The company touts the unit as a differentiator from other...Read More
Miner AngloGold Ashanti can resume a soil study halted by a municipal council ban on mining activities, the environmental authority in Colombia's Antioquia province said.The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area.In a decision dated Feb. 18, Corantioquia said it was lifting the stoppage on AngloGo...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM), is expanding its footprint in Ecuador by signing an agreement with Cornerstone Capital Resources (TSX-V:CGP), a Canadian junior with several assets in the country, including a 15% stake in SolGold's Cascabel copper-gold project.Under the deal, a subsidiary of Newcrest will have the option to earn up to a 75% interest in two early-st...Read More
A report published by Fitch Solutions states that due to the prevalence of off-grid remote mineral deposits in Sub-Saharan Africa and the fact that traditional grid-power tends to be unreliable in those mines, mining companies operating in the region should invest in renewable energy.According to the market research firm, off-grid mines could benefit from reducing their dependency on diesel while...Read More
Miner and commodities trader Glencore (LON:GLEN), one of the world's top coal exporters, has yielded to investor pressure to embrace a "low-carbon economy" by announcing it will cap production of the fossil fuel to align its business strategy with the goals of the Paris climate agreement.The unexpected move will also see the Swiss miner setting new targets for cutting emissions from both its activ...Read More
Canada's Barrick Gold (TSX:ABX) (NYSE:GOLD) and Tanzania have arrived at a plan to settle disputes between the miner's 63.9%-owned Acacia Mining (LON:ACA) and the country's government, which includes a $300 million payment to resolve tax claims in the East African nation.Among the proposals put forward, Barrick offered to create a local operating company in Tanzania and share economic benefits fro...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftEastern promise for PolarXSPONSOREDpolarxCobalt leader talks about new era for project, IdahoSPONSOREDecobalt solutionsGolden Mile positioned for successSPONSOREDgolden mile resourcesOne of the great fallacies about those of us who work in The City is that we have any idea what in the hell w...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftEastern promise for PolarXSPONSOREDpolarxCobalt leader talks about new era for project, IdahoSPONSOREDecobalt solutionsGolden Mile positioned for successSPONSOREDgolden mile resourcesDuring the previous cycle, many of these presentations were indistinguishable in format and, indeed, only sub...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesPrivate equity firm Waterton Global Resource Management, which owns 12% of Hudbay, said Tuesday it had published an investor presentation that laid out what it believed was the right strategic pathRead More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesThe company was revitalised last year when a leadership shakeup saw Colin Bird take the helm as chairman and the appointment of Laurence Read as CEO. Bird has created a strong following over a 40-year career, which includes the sale of Zambian copper-nickel explorer Kiwara plc to First Quantum for US$260 million a decade ago. Read has a l...Read More
The decision will in effect limit supply from 2022-23, although CEO Ivan Glasenberg said a price impact would likely come from the decision."I believe it will put pressure on the price," he said during the 2018 results presentation.The cap will be around 150 million tonnes a year. Despite an 8% higher year-on-year adjusted EBITDA of US$15.8 billion, the company's profits fell 41% compared to...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesThe regulator found 18 irregularities related to Caserones with 11 deemed "severe".Read More
Roughly one year ago and prior to that we observed that the gold stocks could be following the recovery template from what we deemed a "mega bear market."We define that as a bear market that is over two and a half years in time and over 80% in price. It cuts both ways.The gold stocks from 2011 to January 2016 had declined more than 80% and for more than four years. It was a textbook mega bear mark...Read More