(IDEX Online) - Alrosa blamed a Q1 plunge in profits of 87 per cent on revaluation of its foreign currency debt, and, to a lesser extent, COVID-19. The Russian state-owned miner reported a good start to the year and said prices were recovering, until the coronavirus pandemic in mid-February. Net profit for the first three months of 2020 were RUB 3.1bn ($45m), down from RUB 11.7bn ($170m) in Q4 201...Read More
(IDEX Online) - A $25,000 fund has been launched to help independent jewelers who have been victims of looting in the USA. The appeal is being jointly run by the trade associations Jewelers of America and Diamond Council of America. The Jewelers' Relief Fund has so far raised $13,350, boosted by a $10,000 donation from the De Beers Group jeweler Forevermark US. Jewlelry stores in Minneapolis...Read More
Polished month-to-month diamond prices for May showed a marked increase of 0.6 per cent, the most significant rise since December 2018. For almost two years there has been a general pattern of decrease rather than increase, with prices plunging in March, down 1.7 per cent. Prices recovered in April (down just 0.3 per cent) and now, according to figures for May, they are actually increasing.IDEX On...Read More
Hedge funds finally threw in the towel.Read full newsRead More
Pure Gold's mine in Red Lake is on track for its first pour this year.Read full newsRead More
Like much of the world, Argentina remains locked down, its citizens more or less homebound due to the global COVID-19 pandemic. Amid the torpor, Yamana Gold, a Canada-based mining company, has forged a new partnership around a gold mining project in the Patagonian province of Chubut. The move has led activists to accuse Yamana of [...]Read full newsRead More
TMAC is the third underperforming Canadian gold junior to be acquired in the past few months.Read full newsRead More
Gold and gold miner stocks have been notably strong this year amid the pandemic. Gold miner stocks are up almost 25%, while the TSX Index has lost more than 8% so far this year. The yellow metal prices have been rallying for the last few months, which has prominently driven these stocks higher.Top TSX stock: Kirkland Lake GoldKirkland Lake Gold (TSX:KL)(NYSE:KL), an $11 billion senior gold produce...Read More
Dixie Lake drilling in Ontario's Red Lake District - Image courtesy of Great Bear Resources. Drilling along the LP fault at Great Bear Resources' wholly-owned Dixie gold project in Red Lake Ontario continues to return long intervals of high-grade gold mineralization.The most recent release includes the results of hole BR-133, which intersected 25.2 metres of 15.5 g/t gold, and includes a higher...Read More
Publisher's Note: Oil is the cheapest it's been in years. That means it's time to start looking at it from a contrarian perspective. I've stayed away from oil for nearly eight years. I told you shale companies would go bankrupt. Over 200 oil companies have gone bankrupt since 2015. Oil prices went negative this year. It's time to start looking around for upside. You can start with this interview...Read More
Hammerdown project Credit: Maritime Maritime Resources has started an initial 10,000-metre diamond drill program at its 98-sq.-km Hammerdown gold project in Canada's Newfoundland and Labrador province. The program will focus on testing prospective areas for new gold discoveries, growing the existing resource inventory and optimizing the mine plan outlined in a preliminary economic assessment (P...Read More
The modern American caste system is rarely this exposed.While the markets hover 10% away from all-time highs, everything else is in a downward spiral.One in four American workers are collecting, or still simply trying to file for, unemployment.One in three renters didn't make a full payment last month. It will be worse this month. Plus eviction and mortgage protections soon expire and courts are o...Read More
Mikko Tepponen Credit: FLSmidth Mikko Tepponen is now FLSmidth's new chief digital officer (CDO) and will focus on accelerating the digital transformation of the business and its portfolio of digital offerings to optimize operations for customers in the mining industry.Tepponen has prior experience with transformation journeys for other industries and a track record of employing digital solutio...Read More
Metso My Plant Planner Credit: Metso. Metso has introduced a three-dimensional crushing and screening plant configurator for the mining and aggregate industries, which allows users to design more productive and efficient plants through real-time insights. The design and simulation tool, called My Plant Planner, is available on Metso's website and is free to use."We are really excited about My Pl...Read More
Ore-loaded train taken from Itabira Minas Gerais, Brazil. Stock image. Chinese iron ore futures surged on Monday, marking the biggest intraday percentage gain since July 2019, as supply concerns deepened after the country's second-biggest iron ore supplier Brazil shut down Vale's Itabira complex due to coronavirus concerns.A Brazilian judge ordered the closure of the Concei????o, Cau?? and Periqu...Read More
This past month has seen silver prices moving up from around $15 to $18 an ounce. This $3 or so dollar move has rallied some of the silver juniors and also some majors to new 52 week highs. Stocks like Impact Silver - IPT saw it's stock rally from 40 cents to the high 70 cent range. Almost a double. Silver One - SVE stock cracked the old 52 week high and made a new high. Majors like First Majestic...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
China is leading the world in a V-shaped recovery from the aftermath of the Covid-19 pandemic, with other countries slower to recover but showing signs of green shoots, according to the chief financial officer of Alcoa. William Oplinger told the 11th annual Deutsche Bank Global Industrials and Materials summit that China's industrial production, vehicle production, commercial starts and food and d...Read More
The three-month tin price on the London Metal Exchange was the standout performer at the close of trading on Monday June 8, keeping well supported throughout the afternoon amid falling exchange stocks, while aluminium futures breached $1,600 per tonne at the close for the first time since March 19.Tin's underlying price closed at $16,665 per tonne on Monday afternoon, up from an intraday low of $1...Read More
Jack ChanPosted Jun 8, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders.Speculation is at levels of previous tops.Speculation is dropping.Our ratio is on SELL signal.GLD has resistance at 170.$HUI...Read More