OZ will offer A$0.085 (US$0.066) cash and 0.009 of an OZ share for every Avanco share held, valuing Avanco at $0.17 per share, a whopping 120% premium to Avanco's closing price on Monday. Read More
(IDEX Online) - Firestone Diamonds plc posted a small decline on the year in its net loss to $7.8 million in the first half of its 2018 year ended 31 December 2017 from $8.8 million in the year-earlier period. Commercial production commenced at Liqhobong on 1 July 2017. The miner reported that the average price per carat in the period was $74. Revenue was $26 million. It recovered 37...Read More
JOHANNESBURG – A female employee was crushed to death when she fell onto a conveyer belt at De Beer's Venetia diamond mine in Limpopo, police said on Monday.Spokespeson Brigadier Motjafela Mojapelo said the incident happened on Sunday.Advertisement''The conveyer belt ultimately dragged her into a stone scrubber where her body was found trapped between the rocks with mul...Read More
SHANGHAI, Mar 27 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs concerns of a trade war eased, the US dollar index fell to a five-week low overnight and hovered around 89.Most base metals rebounded as bearish sentiments improved. SHFE zinc rose over 1%, while copper and nickel fell. After the slump last week and the sharp growth...Read More
VANCOUVER (miningweekly.com) – The Gahcho Kué diamond mine, in Canada’s Northwest Territories, has demonstrated strong cash flow generating capabilities over the operation’s first two commercially active financial quarters.Toronto-based miner Mountain Province Diamonds on Monday stressed that 2017 was a milestone year for the company, as it made a shift from development to...Read More
SHANGHAI, Mar 27 (SMM) –Copper: Copper prices fell at a slower pace overnight and are likely to inch up today as the US dollar softened and concerns of a trade war eased. LME copper is expected to trade at $6,610-6,670/mt today. The SHFE 1805 contract is seen trading at 48,800-49,300 yuan/mt with ample supply and sluggish demand. Spot discounts are seen at 210-140 yuan/mt.Aluminium: LME alum...Read More
Aluminium:...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published...Read More
SHANGHAI, Mar 27 (SMM) – Nonferrous metals saw mixed trading on Tuesday March 27. SHFE nickel and tin dipped while zinc gained 1.4%. SHFE aluminium and lead rose close to 1%, and copper inched up.Among ferrous metals, coke closed 0.7% lower. Rebar rose over 2%, hot-rolled coil gained 1.6%, iron ore and coking coal edged up about 1%.Copper: The SHFE 1805 contract mostly traded above moving av...Read More
SHANGHAI, Mar 27 (SMM) – Nonferrous metals saw mixed trading on Tuesday March 27. SHFE nickel and tin dipped while zinc gained 1.4%. SHFE aluminium and lead rose close to 1%, and copper inched up.Among ferrous metals, coke closed 0.7% lower. Rebar rose over 2%, hot-rolled coil gained 1.6%, iron ore and coking coal edged up about 1%.Copper: The SHFE 1805 contract mostly traded above moving av...Read More
Trade war worries continue to weigh...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
First, the claim that Mr Fifer is facing "criminal charges" is false. Panama's Social Security Administration, (Caja de Security Social, CSS) having conducted a review of PTQ's Social Security filings and of Mr Fifer, concluded he played no role in the problems that caused the Administration to review PTQ's filing. Mr Fifer is no longer a subject of any Social Security Administration review, in an...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Apple gained $0.93 to $173.70 prior to launch of new products later today. Red Hat added $10.26 to $163.35 after reporting higher than consensus fourth quarter earnings. Stifel Nicolaus and RBC Capital raised their target price on the stock.Newell Brands slipped $0.94 to $25.12 after Sun...Read More
The following is a summary of our recent FS Insider podcast, "ECRI Forecasting Global Economic Slowdown for 2018," which can be accessed on our site here on iTunes here.When we last spoke to Lakshman Achuthan, co-founder of the Economic Cycle Research Institute (ECRI), early 2017, he told us their long leading index had turned up, indicating a sustained global expansion was underway...Read More
SHANGHAI, Mar 27 (SMM) – The current high copper inventories at global exchanges are set to impose further pressure on the already weak prices, SMM believes.Copper inventory at LME saw an increase of 31,225 mt on Tuesday March 27, following a jump of 35,000 mt a day before. This has brought the stocks to the highest level since May 2017 at 383,975 mt. Cancelled warrants stood at 11.8% on Tue...Read More
Aluminium Aluminium has extended to a fresh three-month low...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus do...Read More
SHANGHAI, Mar 27 (SMM) – Nonferrous metals saw mixed trading on Tuesday March 27. SHFE nickel and tin dipped while zinc gained 1.4%. SHFE aluminium and lead rose close to 1%, and copper inched up.Among ferrous metals, coke closed 0.7% lower. Rebar rose over 2%, hot-rolled coil gained 1.6%, iron ore and coking coal edged up about 1%.Copper: The SHFE 1805 contract mostly traded above moving av...Read More
SHANGHAI, Mar 27 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 200 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Tuesday March 27, while Jinchuan traded at a premium at 400 yuan/mt, SMM learned.Jinchuan offered nickel plate at 97,300 yuan/mt.As nickel futures prices rose in the morning, traders made offers actively due to ample supply, while...Read More
Granite (NYSE: GVA) and Layne announced the former's bid on February 14 this year. Layne was trading around US$12.50 a share before the offer was tabled, and hit $16.53 on March 9. It has since drifted back to $14.57.The company had a market value this week of about US$290 million.Granite's offer price was at 8.2-times projected 2018 EBITDA and valued the target at $565 million including Layne's d...Read More
Intense selling pressure LME copper sold...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
SHANGHAI, Mar 27 (SMM) – Spot copper in the Shanghai market saw more active trading as SHFE copper rebounded to around 49,500 yuan/mt today. Spot prices stood at a smaller discount of 200-130 yuan/mt. High-quality copper traded at 49,230-49,340 yuan/mt and standard quality copper traded at 49,200-49,300 yuan/mt with adequate supply.With fewer supply sources, hydro-copper was also favour...Read More