LONDON (Reuters) - Prudential (PRU.L) is to spin off its British and European business from its international operations, breaking up the 170-year-old insurer to refocus on faster-growing markets in the sector’s latest major shake-up.British insurers have been changing strategy to reduce exposure to capital-intensive products following the introduction of rigorous European solvency rules two...Read More
(Reuters) - Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.The company said it has also withdrawn its slate of independent director nominees for Qualcomm’s annual shareholder meeting.Broadcom, however, expects to continue with its plan to redomici...Read More
Yesterday we wrote that gold hashad trouble holding a rally and Tuesday proved our point. Although gold ralliedabout $6, the rally was weak and not convincing. If gold was strong, the rallyshould have been stronger, but all it really did was hover around the bottomend of the range.With all of the turmoil and theequities experiencing a turnaround Tuesday, I would have expected a betterrally out of...Read More
ULAANBAATAR (Reuters) - Anti-graft authorities in Mongolia are investigating a 2009 investment pact that kickstarted development at the Oyu Tolgoi copper-gold mine now run by Rio Tinto, which helped open Mongolia to foreign investors.Turquoise Hill Resources, the Rio-controlled unit that owns a 66-percent stake in the mine, said late on Tuesday it had received a request for financial information t...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
• Easing USD bearish pressure prompts some fresh selling. • Fading safe-haven demand adds to the downward pressure. Gold surrendered its early gains to $1330 area, or one-week tops, and has now retreated to the lower end of the daily trading range. A combination of factors, ranging from fading Fed rate hike expectations and the latest Whit...Read More
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold MiningCorp., reports a net loss of $8.9 million in the fourth quarter that wasnarrower than a $22.1 million loss in the year-ago period. The adjusted losswas $4.6 million, compared to $28.9 million. Gold production in theOctober-December period was 40,350 ounces, down 20% year-on-year. Forfull-year 2017, the net loss was $21...Read More
Brio Gold Inc. (TSX: BRIO), which has agreed to be bought by Leagold Mining Corp., reports a net loss of $8.9 million in the fourth quarter that was narrower than a $22.1 million loss in the year-ago period. The adjusted loss was $4.6 million, compared to $28.9 million. Gold production in the October-December period was 40,350 ounces, down 20% year-on-year. For full-year 2017, the net loss wa...Read More
Yesterday we wrote that gold has had trouble holding a rally and Tuesday proved our point. Although gold rallied about $6, the rally was weak and not convincing. If gold was strong, the rally should have been stronger, but all it really did was hover around the bottom end of the range. With all of the turmoil and the equities experiencing a turnaround Tuesday, I would have expected a better rally...Read More
Suncor Energy (TSX:SU), Canada's largest oil and gas producer by market capitalization, said Wednesday an eight-week maintenance project at its Syncrude facility will begin Thursday almost three weeks ahead than originally planned.The Calgary-based company said advancing the turnaround will allow Syncrude to deal with an unrelated issue, which has been limiting capacity on a line that feeds bitum...Read More
Mr. B. Matthew Hornor reportsMAPLE GOLD TARGETS NEW DISCOVERY WITH DIAMOND DRILLING NOW UNDERWAY AT THE NE SYENITE TARGETA drill rig has arrived and is now turning at the northeast syenite target, where Maple Gold Mines Ltd. plans to complete approximately 10 drill holes during the current campaign. The virtually untested northeast syenite target includes the same host rocks as much of the current...Read More
Mr. B. Matthew Hornor reportsMAPLE GOLD TARGETS NEW DISCOVERY WITH DIAMOND DRILLING NOW UNDERWAY AT THE NE SYENITE TARGETA drill rig has arrived and is now turning at the northeast syenite target, where Maple Gold Mines Ltd. plans to complete approximately 10 drill holes during the current campaign. The virtually untested northeast syenite target includes the same host rocks as much of the current...Read More
We are 50 days into 2018, and already it has been a turbulent year for stocks. The S&P 500 Index (SPX) was up over 7% within the first month of trading, but quickly reversed and found itself down on the year by nearly 4%. It has bounced back strong in March, sitting at a year-to-date gain of about 4% -- which has been the norm since 2010. Performance-wise, the S&P 500 has been no match for the Nas...Read More
Great Atlantic Purchases Portable Gold Mining PlantVancouver, British Columbia (FSCwire) - Great Atlantic Resources Corp. (the "Company" or "Great Atlantic") (GR: TSXV) is pleased to announce it has purchased a turnkey portable Gold mining plant from an independent third party for $99,000. Great AtlanticRead full newsRead More
Canada's First Cobalt Corp. (TSX-V:FCC) (ASX:FCC) is strengthening its position in the cobalt market by acquiring explorer US Cobalt and so create a pure-play North American-focused miner of the metal, a key component in computer chips, mobile phones and lithium-ion batteries that power electric vehicles (EVs).The blended company will have projects in Ontario and Idaho which, once in operations, c...Read More
Canada's First Cobalt Corp. (TSX-V:FCC) (ASX:FCC) is strengthening its position in the cobalt market by acquiring explorer US Cobalt and so create a pure-play North American-focused miner of the metal, a key component in computer chips, mobile phones and lithium-ion batteries that power electric vehicles (EVs).The blended company will have projects in Ontario and Idaho which, once in operations, c...Read More
Canada's First Cobalt Corp. (TSX-V:FCC) (ASX:FCC) is strengthening its position in the cobalt market by acquiring explorer US Cobalt and so create a pure-play North American-focused miner of the metal, a key component in computer chips, mobile phones and lithium-ion batteries that power electric vehicles (EVs).The blended company will have projects in Ontario and Idaho which, once in operations, c...Read More
Samsung C&T Corp., an affiliate of the world's biggest smartphone maker, is in talks for a multi-year deal to buy cobalt from a Congolese miner, joining Apple Inc. in the global rush to secure supplies of the metal at the heart of the electric-car boom.Read full newsRead More
The Attorney General of South Carolina has served a cease and desist order on Genesis Mining. In documents filed before its Securities Commissioner, it has declared cloud mining contracts to be securities, in a move that could have repercussions beyond the confines of the Palmetto State. Also read: 'Cryptomatoes' Using Excess Mining Heat to Grow Produce ...Read full newsRead More