The camp at Aton Resources' Abu Marawat gold property in Egypt, with an outcropping vein in the foreground. (Image courtesy of Aton Resources.) Canada's Aton Resources (TSX-V: AAN) became the first company in more than a decade to secure a gold mining licence in Egypt, which last year issued new regulations to ease foreign investment in the sector.The new rules eliminated the needfor miners to fo...Read More
The three-month price for lead on the London Metal Exchange was higher at the close of trading on Thursday February 13, nearing the $1,900 per tonne resistance level on a 1.7% uptick, while a positive close for LME copper saw it also approach nearby resistance.Lead's underlying price on the LME closed at $1,892 per tonne, climbing from an intraday low of $1,844.50 per tonne, while turnover was mod...Read More
The alumina index, fob Australia remained just above $280 per tonne so far this week amid quiet trading conditions. Fastmarkets calculated the daily benchmark at $281.69 per tonne on Thursday February 13, little changed from $281.61 per tonne the previous day. The index has hovered around $281 per tonne since February 7 and remains close to its highest level since November 7, when it was at $...Read More
The novel coronavirus (2019-nCoV) has not affected China Hongqiao Group's aluminium production, which is operating at its full running capacity of 5.86 million tonnes in Shandong province, the company confirmed to Fastmarkets."Our aluminium production was not impacted by the novel coronavirus. Now we are running at almost 5.86 million tonnes of aluminium and this is our full operating capacity in...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More
The alumina index, fob Australia remained just above $280 per tonne so far this week amid quiet trading conditions. Fastmarkets calculated the daily benchmark at $281.69 per tonne on Thursday February 13, little changed from $281.61 per tonne the previous day. The index has hovered around $281 per tonne since February 7 and remains close to its highest level since November 7, when it was at $...Read More
BDO noted that while the exodus of capital from junior mining to things like bitcoin and cannabis had eased, the investors had not necessarily returned to explorers.Read More
Revenue amounted to US$51.3 million in Q4, up from US$36.3 million, as the average price per carat rose by 21% to US$1,713. The Lesotho and Botswana-focused player also increased the number of carats sold by 17% to 29,945, including four stones of greater than 100 carats."Following pressure on the prices for the larger high-quality diamonds seen during 2019, signs of improvement were noted in Dece...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata") is pleased to announce that the Company has signed a multi-year supply agreement with a global Land Mobile Radio ("LMR") and software vendor (the "Vendor").The agreement outlines that Siyata Mobile will supply the Uniden (R) UV350 in-vehicle IoT device to the Vendor, for resale to its first responder...Read More
Vancouver, BC - FinCanna Capital Corp. (CSE:CALI) (OTCQB:FNNZF) (the "Company" or "FinCanna") a royalty company for the U.S. licensed cannabis industry is pleased to announce that it has signed a New Royalty Agreement ("Agreement") with Cultivation Technologies, Inc. ("CTI") of Coachella, CA a top-ranked and award winning cannabis extraction and manufacturer. Further to the Agreement, FinCanna h...Read More
The novel coronavirus (2019-nCoV) has not affected China Hongqiao Group's aluminium production, which is operating at its full running capacity of 5.86 million tonnes in Shandong province, the company confirmed to Fastmarkets."Our aluminium production was not impacted by the novel coronavirus. Now we are running at almost 5.86 million tonnes of aluminium and this is our full operating capacity in...Read More
It had said 7 tonnes of gold was lost annually as a result of illegal mining, crime, theft and security at the mines, in its Facts and Figures 2019 pocketbook released at Mining Indaba earlier this month. The council renewed its pleas for action, outlined in January, ahead of today's State of the Nation Address and the annual national budget speech scheduled for February 26. "The South A...Read More
Whilst it must be frustrating for Precious Metals sector investors to watch Tech stocks continuing to "shoot the moon" while PM stocks have mostly done nothing, the chart presented below suggests that this situation won't persist for much longer.The 7-month chart for GDX shows it probably completing the Handle of a sizeable Cup & Handle continuation pattern. GDX has stayed above the support leve...Read More
A summary of South32's earnings, alumina and aluminium production results for the first half of its 2020 financial year ended December 31, 2019. In brief: South32's underlying adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) declined by 48% to $678 million.Profits before tax have slumped 72% to $251 million from $908 million in first half of last year.Company reven...Read More
By Carolyn BorodenGold has a rather important decision zone in the 1580.30-1581.70 area. This zone is the high that gold futures (GC) reached on February 3 in a .618 Fibonacci retracement off its low, and it also constitutes a 100% projection of the prior rally swing. Note that on the first test of this key resistance gold has failed to clear the hurdle and has pulled back just over $16.00 s...Read More
By: Ira EpsteinGold market - best to watch the sideways action, watch out for the pot holes..Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More