RAPAPORT... It could take up to three years for the luxury market to get back on track, as it relies heavily on consumer sentiment and travel, Richemont chairman Johann Rupert predicted."The luxury industry is dependent on customers' willingness to spend - the so-called 'feel-good factor' - and has benefited from increased international travel in recent years," Rupert said last week. "There w...Read More
(IDEX Online) - Diamond exports from India are gradually resuming, as officials in Mumbai introduce a lottery to allow 100 packages a day to leave the country. Traders chosen at random are allowed to despatch bulk orders, typically to buyers in USA or Dubai waiting for pre-COVID-19 orders to be fulfilled. The Brihanmumbai Municipal Corporation, which governs the Mumbai area, introduc...Read More
(IDEX Online) - Israel's diamond sector has lost $300m in profit to coronavirus, says Yoram Dvash, president of the country's Diamond Exchange. Trade has declined by 90 per cent, he told the news agency Reuters, and deals worth $1.5bn during March and April were wiped out by the pandemic. Israel is the world's fifth-biggest diamond-trading nation, with the sector accounting for nine...Read More
(IDEX Online) - Angola's diamond production will plunge by over three quarters this year, according to the state-run mining company Endiama.Output from the country's 12 mines totaled 9.2m carats in 2019, grossing $1.26bn, an increase of 10 per cent on the previous year, boosted in part by trading reforms.But COVID-19 continues to adversely affect the world's fourth-biggest diamond-p...Read More
PRIVATE BLOG - Gold & Its Role & the DowPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report mine construction activities at its PureGold Red Lake Mine in Ontario are on schedule for first gold pour before the end of the year.Work to date has proven we have a clear and precise understanding of theRead full newsRead More
Gold jumped more than 1% on Friday to levels last seen in 2012, as renewed U.S.-China trade tensions added to concerns about a deep economic slump due to the coronavirus pandemic.Read full newsRead More
"THE FLIPNPIK ECOSYSTEMA collaborative #socialmedia fueled by the participation of the community ??"?????#ComingSoon #FlipNPik #Geecko #Montreal #Retail #MomentumStockshttps://t.co/9t7NIWGfmu"Read full newsRead More
(Image courtesy of Rio Tinto.) The mining industry is deeply impactedby the covid-19 pandemic, and the situation continues to evolve as the virusspreads throughout the globe. In its latest report on the coronavirus impact on the iron ore market, Fitch Solutions has revised down most of its 2020 mining and metals production and consumption forecasts and warns it will keep adjusting estimates in t...Read More
Sagebrush at the South zone, Red Hill property. Credit: NuLegacy Gold. NuLegacy Gold (TSXV: NUG) has arranged a non-brokered private placement of up to 75 million units at a price of C$0.075 per unit to raise gross proceeds of C$5.62 million.Each unit consists of one common share of the company and one-half of one common share purchase warrant, with each whole warrant exercisable for one common s...Read More
Disney is now losing one billion dollars per month. This was the stock that all the old guard Wall Street bros loved a few months ago - when the plebes were still willing to part with their precious dollars to watch unoriginal and trite comic book rehashes. All Disney - that stalwart of stalwarts - has done is lose a third of its value since it peaked in early December last year. No one is goin...Read More
Image courtesy of Silvercorp MetalsSilvercorp Metals (TSX: SVM) and Guyana Goldfields (TSX: GUY) have agreed to amend the terms of their merger arrangement, which would see Silvercorp making a significantly higher offer than the previously announced C$105 million deal.The parties came to a new agreement following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party t...Read More
Image from BHP. BHP Petroleum has formed an alliance with Ense??a por Mexico (EPM) and the Ministry of Education of the state government of Tamaulipas (SET), aimed at improving education for the children in Tamaulipas by providing high-quality training to local teachers.In addition to providing quality education, the alliance aims to share innovative practices and academic strategies, as well as...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
Three-month base metals prices on the London Metal Exchange rallied at the close of trading on Monday May 18, with positive risk sentiment emerging from a continued easing of Covid-19 market concerns, while copper, nickel and zinc futures all breached nearby resistance levels.Copper's outright price on the LME closed at $5,317 per tonne on Monday afternoon, climbing by more than 2.6% from an intra...Read More
Bob Moriarty ArchivesMay 18, 2020I have been remiss in not doing much in the way of writing about resource opportunities for a couple of reasons. Obviously the Corona Virus issue has been at the forefront of most people’s attention. But also I was saying for years that a depression was coming and wise people would prepare in advance.About the virus. Every day it looks more and more like some...Read More
The pricing is at 1.5c per new share.Read More
The latest data for the global manganese ore market for the week ended May 18, 2020.Read More
Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More