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

Some of the earliest adopters of the digital currency Bitcoin were criminals, who have found it invaluable in online marketplaces for contraband and as payment extorted through lucrative "ransomware" that holds personal data hostage. A new Bitcoin-inspired technology that some investors believe will be much more useful and powerful may be set to unlock a new wave of criminal innovation.T...Read More

This Saturday marks one full year since the US military began its still-undeclared war against Islamic State that the government officials openly acknowledge will last indefinitely. What do we have to show for it? So far, billions of dollars have been spent, thousands of bombs have been dropped, hundreds of civilians have been killed and Isis is no weaker than it was last August, when the airstrik...Read More

This Saturday marks one full year since the US military began its still-undeclared war against Islamic State that the government officials openly acknowledge will last indefinitely. What do we have to show for it? So far, billions of dollars have been spent, thousands of bombs have been dropped, hundreds of civilians have been killed and Isis is no weaker than it was last August, when the airstrik...Read More

Lex the police dog from central Illinois is far from top dog in drug-sniffing skills.That's the core finding of a potentially influential new ruling from the 7th U.S. Circuit Court of Appeals, which considered the question of how much police should rely on their K-9 partners to justify searches when a dog's own competence, as in Lex's case, is itself suspect.The opinion stems from an a...Read More

Lex the police dog from central Illinois is far from top dog in drug-sniffing skills.That's the core finding of a potentially influential new ruling from the 7th U.S. Circuit Court of Appeals, which considered the question of how much police should rely on their K-9 partners to justify searches when a dog's own competence, as in Lex's case, is itself suspect.The opinion stems from an a...Read More

Some time in the next year, Starbucks will likely become the world's largest restaurant company based on market value, eclipsing McDonald's $95 billion capitalization. The Golden Arches have been tarnished in recent years, but this impending milestone is testament largely to the success of Starbucks, whose shares have rallied 49% in the past 12 months.The Seattle-based chain, with a market...Read More

Some time in the next year, Starbucks will likely become the world's largest restaurant company based on market value, eclipsing McDonald's $95 billion capitalization. The Golden Arches have been tarnished in recent years, but this impending milestone is testament largely to the success of Starbucks, whose shares have rallied 49% in the past 12 months.The Seattle-based chain, with a market...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

The Federal Tiber leaves Milne Port. (Image courtesy of Baffinland Iron Mines Corporation)Baffinland Iron Mines Corporation said the first load of ore from its Nunavut-based Mary River mine, in the Canadian Arctic, is now on its way to Germany.Over 50,000 tonnes of ore left the Milne Inlet port on Saturday, said the company. Once the shipment gets to Europe, it will be made into steel.The miner's...Read More

CHRIS CHRISTIE: This is not theoretical to me. I went to the funerals. We lost friends of ours in the Trade Center that day. My own wife was two blocks from the Trade Center that day, at her office, having gone through it that morning.When you actually have to be responsible for doing this, you can do it, and we did it, for seven years in my office, respecting civil liberties and protecting the ho...Read More

CHRIS CHRISTIE: This is not theoretical to me. I went to the funerals. We lost friends of ours in the Trade Center that day. My own wife was two blocks from the Trade Center that day, at her office, having gone through it that morning.When you actually have to be responsible for doing this, you can do it, and we did it, for seven years in my office, respecting civil liberties and protecting the ho...Read More

History has shown that when a government wants to solidify its power, it has to turn its subjects into taxpayers. The Roman Empire demanded high tribute payments from every tribe it had newly conquered. And the United States developed from a commonwealth to a federal state when, in the 18th century, Treasury Secretary Alexander Hamilton achieved uniform duties and taxes for the entire union, initi...Read More

History has shown that when a government wants to solidify its power, it has to turn its subjects into taxpayers. The Roman Empire demanded high tribute payments from every tribe it had newly conquered. And the United States developed from a commonwealth to a federal state when, in the 18th century, Treasury Secretary Alexander Hamilton achieved uniform duties and taxes for the entire union, initi...Read More

Investors throughout China are waiting for the government to step in and buy more stocks so they can close out their positions, but many are losing hope.Yang Cheng, a farmer in the remote town of Panzhihua in southwest China, was one of many Chinese citizens who started buying up stocks after the government began promoting equity investment as part of a larger plan to expand the country's econ...Read More

Investors throughout China are waiting for the government to step in and buy more stocks so they can close out their positions, but many are losing hope.Yang Cheng, a farmer in the remote town of Panzhihua in southwest China, was one of many Chinese citizens who started buying up stocks after the government began promoting equity investment as part of a larger plan to expand the country's econ...Read More

When police officers shoot people under questionable circumstances, Dr. [William J.] Lewinski is often there to defend their actions. Among the most influential voices on the subject, he has testified in or consulted in nearly 200 cases over the last decade or so and has helped justify countless shootings around the country.His conclusions are consistent: The officer acted appropriately, even when...Read More