The price of stainless steel in Europe was stable in the week to Friday May 22, but mills are expected to announce significantly higher alloy surcharges for June next week after Outokumpu published higher figures on its website this week.Outokumpu, which traditionally is the first to announce new surcharges each month, said its June alloy surcharge for grade-304 flat products will be ?,?1,363 ($1,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The Covid-19 pandemic and the associated impacts on steel production, mining and manufacturing activity, end-use consumption, and trade and transportation continue to dominate ferro-alloy markets. US steel mills are operating at around 50% of capacity, with similarly low operating rates evident in Europe as well. Chinese ste...Read More
One of the oldest companies listed on the Toronto Stock Exchange, Moneta Porcupine Mines (TSX: ME; US-OTC: MPUCF), believes it has found a new zone of gold mineralization at its Golden Highway project, 100 km east of Timmins, Ontario.Drilling 1 km to the west of the project's South West deposit and 500 metres from the company's recent Westaway discovery intersected 4 metres grading 8.09 grams gold...Read More
Canada's Dominion Diamond Mines has unveiled a transaction that would allow it to exit court protection from creditors and access short-term operating funds, which would pave the way to eventually restart its idled Ekati mine in Canada's Northwest Territories.The company, which owns and operates the iconic Ekati diamond mine and also has a 40% interest in the nearby Diavik, said it had signed a le...Read More
Australian iron ore major Fortescue Metals Group (ASX: FMG) has invested $1.38 million (US$984,000) in Candente Copper (TSX: DNT), increasing its stake in the Canadian junior from 9.7% to 19.92%.Through wholly owned subsidiary Nascent Exploration, Fortescue has subscribed for 27.5 million shares at 5 ? apiece in Candente, which owns a series of copper assets in Peru. Those include Ca??ariaco Norte...Read More
The inter-merchant spot price for light iron scrap in the UK has been steady over past week and unchanged in May, supported by lower scrap arisings and material being delivered into yards amid a slowdown in heavy industry manufacturing, sources said.Market support looks likely in the near term as competition for scrap looks firmer among some major shredders for feed. While there is slower trade at...Read More
Infill drilling at QMX Gold's (TSXV: QMX) Bonnefond deposit, near Val d'Or, Que., continues to hit strong intercepts as the company prepares a resource update to be released this summer.The junior released assays from nine holes drilled in the eastern part of the deposit meant to test the extension of mineralized shears east of the Bonnefond intrusive, along 200 metres of strike.Hole 105A targeted...Read More
Traders dealing in containerized steel scrap are battling expensive freight rates, while holiday banking closures in Pakistan are causing additional concerns in the market.Container freight rates for scrap have continued to increase in recent months due to factors such as a renewed tightness of containers following bottlenecks at ports, together with shipping lines looking to recoup some of their...Read More
The rally in the gold price will not be enough to prevent 2020 turning into the worst year in 15 for global exploration spending.According to a new report by S&P Global Market Intelligence, outlays for exploration across the industry are set to drop from US$9.3 billion in 2019 to US$6.6 billion this year.Despite a gold price approaching seven-year highs above US$1,700 per oz., money spent on drill...Read More
Prices for heavy melting scrap (HMS) imports in Taiwan have risen only slowly over the past seven days and may have peaked, sources said in the week to Friday May 22.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan, was $230-232 per tonne cfr on Friday, unchanged from Thursday May 21 having widened at the h...Read More
Demand for ferrous scrap imports in Vietnam faded toward the latter part of this week after sellers raised their offers from Thursday May 21 onward.Bids for bulk cargoes of Japanese H2 scrap were at $245 per tonne cfr southern Vietnam this week, with offers at $250 per tonne cfr southern Vietnam at the start of the week.There was a transaction at $248 per tonne cfr southern Vietnam to a Vietnamese...Read More
"Lack of new major gold deposits': Discovery numbers dive in the last decade'from @KitcoNewsNOW @annagolubova @SPGMarketIntel datahttps://t.co/O51uNwSe1x"Read full newsRead More
May 20, 2020 (Baystreet.ca via COMTEX) --The spot price of gold has enjoyed significant momentum on the back of the COVID-19 pandemic. However, the yellow...Read full newsRead More
Vancouver, British Columbia--(Newsfile Corp. - May 20, 2020) - INCA ONE GOLD CORP. (TSXV: IO) (FSE: SU9.F) (SSEV: IOCL) (Read full newsRead More
Noble Mineral Exploration Inc. is pleased to announce the closingRead full newsRead More
Monterey Minerals Inc. is pleased to announce that it has signedRead full newsRead More
Retirement should be about comfort and peace of mind. Investors lining a Registered Retirement Savings Plan (RRSP) or other retirement fund should be looking at low-risk stocks to hold for the long term. But which names can offer defensive growth in the current market? Today, we will take a look at two TSX stocks that can go the distance, covering consumer staples and natural resources.The consume...Read More
Across the world, governments have unleashed an historic amount of cash to stem the tide of economic chaos. A flood of freshly printed currency could trigger an issue investors haven’t had to deal with for decades: inflation. Printing moneyAs commercial activity remains suspended and unemployment hits a record-high, governments have launched stimulus programs to support citizens. C...Read More
The recent market rally might have put the stock market crash at the back of investors’ minds.On closer examination, the TSX stock market crash earlier this year saw the TSX index trading about a third lower. Right now the market has only bounced back 27%, which is not even close to the previous high.Although the businesses in parts of Canada, like British Columbia and Alberta are progressiv...Read More
Resolution Minerals Ltd (ASX: RML) (formerly Northern Cobalt) has entered into a binding term sheet, with Millrock Resources Inc., to acquire, via joint venture earn-in, up to 80% of the 64 North Gold Project, located within the Tintina gold province, Alaska, which hosts more than 80Moz in gold, including the massive 45Moz Donlin Creek deposit. Divided into a pipeline of nine prospects, largely un...Read More