Australia's Fortescue Metals Group cut its price guidance for iron ore sales for the year to end-June 2018, citing subdued construction activity in China, some ongoing steel production restrictions and global trade worries.Fortescue amended its guidance to around 65 per cent of the average benchmark Platts 62 CFR index, due to a slower than anticipated recovery in contractual realisations.It said...Read More
Canada-based Gungnir Resources (TSX-V: GUG) announced that authorities have approved a permit application to start drilling on its Knaften gold project, located in the Vasterbotten district of northern Sweden.According to the miner's website, Knaften covers Au in boulders and outcrop, as well as drill-indicated Au mineralization along a developing 10+ km long geochemical-magnetics trend in the Kna...Read More
Silver producer Hecla Mining (NYSE: HL) is taking Montana environmental regulators to court for labelling the company and its top executive as "bad actors," while giving them 30 days to iron out a complaint that accuses them of violating the state's mine clean-up laws.The Montana Department of Environmental (DEQ) notice to the company, which could require it to pay up to $30 million, focuses on s...Read More
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said Canadian-based mining company Kinross Gold agreed to pay $950,000 to settle civil charges that it failed to ensure its payments in Africa were not being used to bribe government officials.The SEC said in a statement Monday the company did little to verify payments to politically connected consultants and vendors - often made i...Read More
Canada's Lundin Gold (TSX:LUG) has closed a $400-million financing that will help it complete the construction of its flagship Fruta del Norte gold project in Ecuador, expected to begin production in late 2019.The Vancouver-based company, which last month secured a $250-million investment from Newcrest Mining, which is part of the total announced today, said the Australian miner now owned 27.1%...Read More
Newcrest Mining, Australia's largest independent gold miner, said it will recommence mining operations at its flagship Cadia mine which was closed following damages to a tailings dam wall.Mining operations will restart at Cadia East, in accordance with predefined test and response program, the company said in a statement."Mining will initially be from Panel Cave 1 and then progressively recommence...Read More
KATOWICE, Poland, March 26 (Reuters) - Poland's biggest mining firm, state-run PGG, expects its coal output to rise slightly this year from around 30 million tonnes in 2017, the company's Chief Executive Tomasz Rogala said on Monday."I think we will produce more than 30 million tonnes. This could be 30.6-30.7 million," Rogala told reporters.PGG, which accounts for about half of the amount of therm...Read More
Geneva-based IndustriALL, a global union federation that says it represents more than 50 million workers in 140 countries, joined forces with Building and Wood Workers' International to file a complaint against BHP Billiton (NYSE:BHP) and Vale (NYSE:VALE) under the Organisation for Economic Co-operation and Development's Guidelines for Multinational Enterprises. In a press release, the signatories...Read More
Scientists from Imperial College London and UCL used a synthetic diamond grown in a nitrogen-rich atmosphere to create a new maser that operates continuously.A maser (microwave amplification by stimulated emission of radiation) is the older, microwave frequency sibling of the laser. It was invented in 1954 and has traditionally been used in deep space communication and radio astronomy.However, ear...Read More
Shares in Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) received a fresh boost on Monday, after it said it had found "strongly mineralized" extensions at its 85%-owned Cascabel copper-gold project, 180 km north of the country's capital Quito.The discoveries, the Australian miner said, are predicted to significantly increase Cascabel's high-grade resource tonnage. The project, located on th...Read More
The Oreninc Index fell in the week ending March 23rd, 2018 to 26.70 from an updated 52.33 a week ago as financings once again dried to a trickle.The week was full of news that was generally positive for gold led by the US Federal Reserve's latest monetary policy decision that confirmed the long-expected interest rate increase, but more importantly, the Fed indicated that it will only make three ra...Read More
The recent one-day 12% drop in First Quantum Minerals Limited (TSX:FM) stock on March 20 after announcing a serious dispute with Zambian tax authorities has some stark resemblance to the predicament of Barrick Gold Corp.'s (TSX:ABX)(NYSE:ABX) subsidiary, Acacia Mining Inc., in Tanzania last year, and investors may have something to learn from these isolated events.First Quantum was slapped with...Read More
Mr. Darin Wagner reportsBALMORAL RELEASES INITIAL RESOURCE ESTIMATE FOR MARTINIERE GOLD SYSTEM, DETOUR GOLD TREND PROJECT, QUEBEC Balmoral Resources Ltd. has provided the initial resource estimate for the near-surface portion of the Martiniere gold system on the company's wholly owned Martiniere property in Quebec.The initial resource estimate confirms the continuity of the gold mineralization wit...Read More
Gold prices are beginning to enter zones that have seen significant resistance for a few years now. Naturally, gold bugs are optimistic that this time, the price will push through and start climbing up to US$1,400 and beyond.One unique stock that will give you exposure to both gold and silver is Wheaton Precious Metals Corp. (TSX:WPM)(NYSE:WPM). For those that don't know, Wheaton is the new name f...Read More
A new survey, conducted by Fabrizio, Lee & Associates - the lead campaign pollster for President Donald Trump - shows that 77% of 2018 voters nationwide have a favorable opinion of legalizing medical marijuana.Others have shown similar but slightly less enthusiastic support for recreational marijuana, as well.And regardless of support, fully three-quarters of the country believe the sale and use o...Read More
Mr. Nav Dhaliwal reportsBONTERRA ANNOUNCES VICE PRESIDENT OPERATIONS AND PROVIDES UPDATE ON WINTER DRILL PROGRAM AND METALLURGICAL STUDIES Bonterra Resources Inc. has appointed Peter A. Ball as vice-president of operations and is providing an update of the continuing winter drill program and metallurgical studies."I am pleased to have Peter formally join the Bonterra team, as he has been a board...Read More
(Kitco News) - Gold might be sharing some of its magic allure with the struggling sister metal, silver, said the head of commodity strategy at Saxo Bank, adding that there is a growing demand for safe investment options that are cheaper than gold.If gold manages to break above its resistance at $1375 an ounce, silver can benefit, said Ole Hansen in a note on Tuesday.“The current rally may he...Read More
Mar 27, 2018 Guest(s): Robert Kiyosaki Holding real gold is the best way to have steady income, says Robert Kiyosaki, best-selling author of "Rich Dad Poor Dad" and his latest book "Why The Rich Are Getting Richer. "Kiyosaki has been a self-proclaimed gold bug since 1972, and in his latest interview with Kitco News, he explained his journey with the yellow metal, from his first foray into gold...Read More
Mr. Darin Wagner reportsBALMORAL RELEASES INITIAL RESOURCE ESTIMATE FOR MARTINIERE GOLD SYSTEM, DETOUR GOLD TREND PROJECT, QUEBEC Balmoral Resources Ltd. has provided the initial resource estimate for the near-surface portion of the Martiniere gold system on the company's wholly owned Martiniere property in Quebec.The initial resource estimate confirms the continuity of the gold mineralization wit...Read More
(Kitco News)- Investors are breathing a sigh of relief after Monday’sacross-the-board 2% rally in equity markets, but one Canadian bank warned thattechnical indicators don’t support higher prices in the long term.“Distribution forces appear more dominant as global equitiesare showing negative reversals below technical support levels on heaviervolume,” Sid Mokharti, technica...Read More