The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More

The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

It's Corporate Governance 101: Company directors are supposed to respect the wishes of the shareholders they are duty bound to serve. And if the directors defy them, those shareholders are supposed to hold the directors accountable.That principle of board accountability will face an unusually stark test on Sept. 22, when Bank of America shareholders gather at company headquarters in Charlotte,...Read More

It's Corporate Governance 101: Company directors are supposed to respect the wishes of the shareholders they are duty bound to serve. And if the directors defy them, those shareholders are supposed to hold the directors accountable.That principle of board accountability will face an unusually stark test on Sept. 22, when Bank of America shareholders gather at company headquarters in Charlotte,...Read More

Fridays have been especially awful for buyers of lateWorries about the next Fed rate hike have already started! Or something. We get The Really Big News, rally a little, sell off a little, go to sleep, and then Wham. I'm old enough to remember when we declined hard because the dollar was too strong -- now we decline hard because it's too weak. Either that or it's not really related -- I totally l...Read More

Earlier this week, school resource officers at MacArthur High School were notified by the Irving ISD officials about a student in possession of a suspicious device. The student showed the device to a teacher, who was concerned that it was possibly the infrastructure for a bomb. School resource officers questioned the student about his intentions and the reasons why he brought the device to school....Read More

Earlier this week, school resource officers at MacArthur High School were notified by the Irving ISD officials about a student in possession of a suspicious device. The student showed the device to a teacher, who was concerned that it was possibly the infrastructure for a bomb. School resource officers questioned the student about his intentions and the reasons why he brought the device to school....Read More

In an investigation involving guns and drugs, the Justice Department obtained a court order this summer demanding that Apple turn over, in real time, text messages between suspects using iPhones.Apple's response: Its iMessage system was encrypted and the company could not comply.Government officials had warned for months that this type of standoff was inevitable as technology companies like Ap...Read More

In an investigation involving guns and drugs, the Justice Department obtained a court order this summer demanding that Apple turn over, in real time, text messages between suspects using iPhones.Apple's response: Its iMessage system was encrypted and the company could not comply.Government officials had warned for months that this type of standoff was inevitable as technology companies like Ap...Read More

Could [another 9/11] attack happen tomorrow? Of course. But once every 13 years would still be an anomalous event, not a systemic threat. Remember the talk as the rubble smoldered of hundreds, maybe thousands, of "sleeper cells" lurking out there, waiting to strike? Well, we now know there were none at the time, and apparently none were formed even after we have fought two wars and kille...Read More

Could [another 9/11] attack happen tomorrow? Of course. But once every 13 years would still be an anomalous event, not a systemic threat. Remember the talk as the rubble smoldered of hundreds, maybe thousands, of "sleeper cells" lurking out there, waiting to strike? Well, we now know there were none at the time, and apparently none were formed even after we have fought two wars and kille...Read More

The New York Police Department released surveillance video of the [James Blake] arrest on Friday, offering a minute-long glimpse of the manhandling of a biracial sports star by a white plainclothes officer that compelled officials to swiftly strip the officer of his gun and badge.Mr. Blake, 35, was leaning against a mirrored beam outside a hotel in Midtown Manhattan, his hands clasped as he waited...Read More

The New York Police Department released surveillance video of the [James Blake] arrest on Friday, offering a minute-long glimpse of the manhandling of a biracial sports star by a white plainclothes officer that compelled officials to swiftly strip the officer of his gun and badge.Mr. Blake, 35, was leaning against a mirrored beam outside a hotel in Midtown Manhattan, his hands clasped as he waited...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Asher Abid Khan sat in Istanbul's Ataturk Airport and considered his next move — forward to Syria and enlistment in the Islamic State, the militant group that had drawn him to the possibility of dying for Allah, or home to Texas and his bewildered family whose imploring messages were filling his voice mail.The 19-year-old pulled out his phone and dialed."I want to come home," K...Read More

Asher Abid Khan sat in Istanbul's Ataturk Airport and considered his next move — forward to Syria and enlistment in the Islamic State, the militant group that had drawn him to the possibility of dying for Allah, or home to Texas and his bewildered family whose imploring messages were filling his voice mail.The 19-year-old pulled out his phone and dialed."I want to come home," K...Read More

Two fatal developments are converging during this election in the United States. The decoupling of the super-rich from the rest of society is an accelerating trend in recent years. And also the consequences of a series of rulings by the Supreme Court in 2010 that enable politicians and support groups to accept unlimited donations. This confluence of events is undermining the development of the wor...Read More