By Frank HolmesIn last week's Investor Alert, our investment team shared with you a report from Morgan Stanley that says bitcoin's price decline since December mimics the Nasdaq tech bubble in the late 1990s. This isn't earth-shattering news in and of itself. The main difference is that the bitcoin rout happened at 15 times the rate as the tech bubble.Morgan Stanley has some good news for bitcoi...Read More
Venezuela just introduced its own cryptocurrency. That's right... The country battling chronic food shortages, runaway inflation, and widespread Continue...Read More
Iron ore prices fell further on Wednesday March 28 despite a slight improvement in the Chinese steel market. Metal Bulletin's 62% Fe Iron Ore Index Today: $63.12 per tonne cfr Qingdao Daily change: down by $2.05 per tonne Month-to-date average: $70.47 per otnne Metal Bulletin's 58% Fe Premium Index Today: $52.34 per tonne cfr Qingdao Daily change:...Read More
"It's a big deal and a major win for American workers and American businesses."Continue...Read More
BKZ is less than 800m from the BKM copper project, which the company is currently carrying out a feasibility study on, but the earlier-stage asset is gaining investor attention for its variety of rich base and precious metal mineralisation.The latest infill results have, again, shown why investors would be interested.Broad intervals of high-grade massive sulphide mineralisation were intercepted in...Read More
Prices and trading activity in the iron ore market softened again on Wednesday March 28 despite some improvement in China's steel market.Key driversThe Chinese ferrous futures market was mixed during the day, with the most-traded steel contracts closing slightly higher than the preceding day's settlement prices, while the benchmark contracts for steelmaking raw materials all ended in negative terr...Read More
SHANGHAI, Mar 28 (SMM) – Nonferrous metals fell for the most part on Wednesday March 28 except for lead, which inched up slower than the previous day. Tin led losses with a drop over 1%, and copper, aluminium, zinc, and nickel edged down.Across the ferrous complex, coke fell nearly 4%, coking coal declined almost 2%, and iron ore dipped over 1%. Rebar and hot-rolled coil inched up.Copper: SH...Read More
Several storms swept through the area during the past two weeks, which has made access to the property and selected drill targets both difficult and dangerous.Read More
China's domestic rebar prices moved up further on Wednesday March 28 amid steady procurement rates.Domestic Eastern China (Shanghai): 3,460-3,540 yuan ($551-564) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,680-3,700 yuan per tonne, up 10-20 yuan per tonne Traders raised their offers following the sharp gains in the futures market in the first hour of trading in the morning. End-use...Read More
Other changes will see non-executive director and former Lundin Mining (CN:LUN) executive Neil O'Brien become non-executive chairman, filling a position that has been left vacant since July. Kuenzel, meanwhile, will become finance director.Struthers, also previously at Lundin Mining, was only named COO at the end of last year.Georgian said the changes followed an agreement between the company and...Read More
SHANGHAI, Mar 28 (SMM) – China’s gross domestic product (GDP) is likely to grow 6.8% in the first quarter of 2018 and 6.9% in the first half of the year, according to a forecast by the National Academy of Economic Strategy of the Chinese Academy of Social Sciences released on Tuesday March 27.The forecast also expects China to meet this year's annual GDP gr...Read More
RAPAPORT... Baselworld 2018, which ended Tuesday, saw a year-on-yeardecline from 1,300 exhibitors to approximately 650, and was shortened fromeight days to six. Considering that the world's largest watch and jewelry fairhosted 1,500 participants in 2016, this year's drop seems even more dramatic. Moredefections are expected next year as contracts with exhibitors expire. In a terse statement in No...Read More
(IDEX Online) - Botswana's Debswana Diamond Mining said output rose sharply last year - up 11 percent to a three year high - and it expects further growth this year as lower taxes in the United States leave consumers with more money to spend. De Beers Executive Vice-President, Diamond Trading, Paul Rowley, explained in an interview with Reuters that diamond sales had received a boost from a...Read More
RAPAPORT... Israel's Get Diamonds has signed an agreement to sell stones directly to the Chinese jewelry market, the company said this week. Get Diamonds, the e-commerce platform of the Israel Diamond Institute(IDI), will partner with Rock & Trade, an Israel-based company thatprovides a loose-diamond platform specifically for Chinese jewelers andsuppliers. Get Diamonds is a website that enable...Read More
SHANGHAI, Mar 28 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar rebounded overnight as concerns of a trade war eased. Month-end capital flows and a weakening euro also buoyed the index.Most base metals climbed up but with limited gains due to the rebound in the greenback. SHFE copper inched up, while zinc dipped. LME...Read More
(IDEX Online) - The CARAT+ show is planning a series of talks and seminars hosted by leading industry experts. This follows the recent announcement that GIA Executive Vice President and Chief Laboratory and Research Officer, Tom Moses, will speak at a GIA GemFest on May 7. Jonathan Chippindale, Co-Founder and Chief Executive of augmented retail solutions and software provider, Holiti...Read More
Metal Bulletin has gathered some of the major talking points from its 19th Asian Ferro-Alloys conference in Hong Kong on March 20-22. 1. Demand for steel and ferro-alloys will come from India, Russia, OBOR and Southeast Asia "From my point of view, market means population. China [has a population of] 1.4 billion people," Mark Shujun Ma, chairman and chief executive officer of metals technology and...Read More
The company announced today that it has signed a non-binding term sheet for a US$150 million stream facility with an "international financial institution of good standing", is in "advanced discussions" for debt financing of US$300-350 million and intends to raise the remainder of a US$775-825 million package through "private and/or public equity or debt offerings".Read More
RAPAPORT... Stornoway Diamond Corporation recorded a loss in 2017, as lower-than-expectedrough prices forced it to devalue its Renard mine. The miner reported a net loss of $88.8 million (CAD 114.6million), versus a profit of $15.2 million (CAD 19.6 million) in 2016,it said Monday. The loss was primarily driven by a $132.6 million (CAD 171million) "impairment charge" due to the Renard devaluation....Read More