Gold stocks have to do more to confirm they are in a new bull market.Sure, they've surged above key moving average resistance and breadth has improved.However, the gold stocks have not yet broken the pattern of lower highs and breadth, while improved, is not at bull market levels yet. Let's review where things currently stand.In recent weeks GDX and GDXJ surged above the critical 400-day moving av...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesThe Vancouver-based company reported an adjusted December quarter loss of C$8.5 million or 4c, which came in short of analyst forecasts calling for earnings of 1c on revenues of $112.35 million.Read More
Dundee Precious Metals offered a look at the fourth quarter and positive full year financials for 2018. The company recorded revenue of $377.1 million and adjusted net earnings of $29.0 million. The all-in sustaining cost per ounce of gold produced was $659. (All monetary figures are U.S. dollars.)For the full year, metal production totaled 201,095 oz. of gold and 36.7 million lb. of copper. The...Read More
First Cobalt (TXSV: FCC; US-OTC: FTSSF) has extended copper-cobalt mineralization along strike at both its Waite zone and No Name zone, part of its Iron Creek cobalt project in Idaho.The company is reporting four holes it drilled west of the project's current resource in 2018. The holes extend the Waite zone 120 metres west along strike and the No Name zone 60 metres west along strike. The compan...Read More
* Japan's Mitsubishi Materials Corp cut its sales estimate of copper cathode at its Indonesia copper smelting unit, PT Smelting, by 32,000 tonnes from its November forecast to 237,000 tonnes for the year ending March 31, a spokesman said on Wednesday. Sales were 263,000 tonnes a year earlier.* The longer-than-expected maintenance late last year and slower ramp-up after the maintenance caused a red...Read More
Peru's environmental agency, El Organismo de Evaluaci??n y Fiscalizaci??n Ambiental, (OEFA) has ruled out that a "greenish solution" found in a river near Southern Copper Corp's Cuajone mine was the product of a tailings spill.In a statement late Tuesday, OEFA noted it was still supervising operations at the mine, which is located in an area hit by heavy rains over the past week.Southern Copper...Read More
Canada's Barrick Gold TSX:ABX)(NYSE:GOLD), which completed its $5.4 billion merger with Africa-focused Randgold Resources at the start of the year, reported Wednesday a loss for its fourth quarter, due partly to issues at two mines in South America.The world's top gold producer by volume, which keeps its books in U.S. dollars, lost $1.2 billion, or $1.02 per share, for the quarter ended Dec. 31 co...Read More
Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, posted Wednesday quarterly profits below estimates, due mainly to weak prices for heavy crude and base metals.The Vancouver-based miner, the world's second-biggest exporter of steel-making coal, recorded negative pricing adjustments, charges related to a write-down in inventory and an operating loss at its Fort Hi...Read More
Lucara sells large diamonds for US$32.5mPrecious stones"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftEastern promise for PolarXSPONSOREDpolarxCobalt leader talks about new era for project, IdahoSPONSOREDecobalt solutionsThe buyers of mining products—smelters and other downstream consumers—similarly want to ensure that they f...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesShuar Arutam president Vicente Tsakim expressed concern about the forced eviction of community members from the project area and demanded the government take action.Read More
A new report by McKinsey forecasts a rapid switch from gas guzzlers to electric vehicles on the world's roads will be boosted by the plummeting costs of owning a battery powered vehicle.The consulting firm's 2019 Global Energy Perspective report foresees a two-thirds drop in the cost of EV battery packs by 2030. The tipping point at which EVs will be cheaper to own than internal combustion engine-...Read More
Osisko Metals of Montreal is pleased with the assays from six recent drill holes at the Titan zone on its wholly owned Key Anacon zinc-lead-copper project located 20 km south of the city of Bathurst.Hole KAT-18-11 intersected 10.0 metres of massive sulphides grading 6.69% zinc, 2.46% lead, 0.54% copper and 58.79 g/t silver within a wider zone of mineralization (38.0 metres grading 5.06% zinc, 1.6...Read More
The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its Mining Act, which were said to be aimed at letting a new company extract the island's riches.The modifications would have jeopardized land rights currently held by Australia's Bougainville Copper Ltd. (BCL), which used to run Panguna, one of the world's biggest open-pit copper operations, shut down by...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesThe company is also searching for a 64-year-old employee who went missing on Friday after a mudslide, which was described in a translated statement as "an avalanche of proportions never before seen".On Sunday, Southern Copper said there had only been sludge, due to the intense rainfall, not a tailings dam failure in the area.Alderan unloc...Read More
The production record was driven by increased production from the BHP operated Escondida mine that increased its production 34% to a record 1.2Mt.Meanwhile, state copper company Codelco produced 1.7Mt, its lowest output since 2014.Chile is the world's largest producer of copper and increased its market share to 27.7% of global production in 2018 from 26.7% in 2017.The production of copper concentr...Read More
SNC said it was in a dispute with a client over a mining project in Latin America, and while the company did not name the client, it is widely believed to be Codelco where SNC obtained engineering,Read More
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Southern Copper Corp said on Monday that it earned $293.2 million in net profit the fourth quarter, compared to a $287.5 million loss it posted in the same period a year earlier.The company, controlled by Grupo Mexico, said its copper production rose 4 percent in the fourth quarter from the same period in 2017. It added that a 112 percent rise in net income in all of 2018 was due mainly to higher...Read More
Mexican miner and transport company Grupo Mexico on Monday reported a net fourth quarter profit of $74.7 million, down by 32 percent compared to the year earlier period.The company reported $2.567 billion in revenues for the fourth quarter, down slightly from a year earlier.(By Lizbeth Diaz; Editing by Delphine Schrank)Read More
Peru's environmental agency OEFA is investigating what looks like a tailings spill from Southern Copper's Cuajone mine into a river as the area where the operation is located has been inundated by heavy rains in the past four days.The authority detected a "flow of a greenish solution" into the nearby Torata River in the waste deposit area of the operation, located in the Moquegua region approximat...Read More