Shares in Africa-focused Gem Diamonds (LON:GEMD) jumped as much as 6.5% on Wednesday after the miner revealed it had dug up yet another big rock at its flagship Let??eng mine in Lesotho.The 169-carat, top white colour, Type IIa rock is seventh diamond of over 100 carats the company has recovered so far this year at the mine, the world's highest dollar per carat.The finding comes barely a day af...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
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
Ghana's Minister of Lands and Natural Resources, John Peter Amewu, announced that he has agreed to sign a Memorandum of Understanding with the Gold Fields workers that have been protesting over the possible layoff of 1,500 staff.The cutback is a consequence of Gold Fields' decision to hire a contractor to operate the Tarkwa mine, located in southwestern Ghana. The operation is the largest in the c...Read More
TORONTO - First Cobalt Corp. says it will take over US Cobalt Inc. in an all-share deal valued at $150 million as it looks to add to its supply of the industrial metal ahead of increased demand.The friendly deal, which requires approval by US Cobalt shareholders, comes as growing investments and demand in electric vehicles has spurred interest in key metals like cobalt, used in the vehicle's...Read More
I was born in a Quonset hut at the Fort Ord Army Hospital in Monterey, California, in 1968. The base has since been torn down and the land given over to the locals. People tell me it's nice, but I left six months later and haven't been back since.My father was in the Navy, and I spent my childhood living on and around naval bases. I used to say I could wake up blindfolded and tell you if I was in...Read More
Mar 15, 2018 Guest(s): Vince Lanci Gold prices appear to be struggling Thursday in part because the metal is seeing little compassion from the White House's new national economic advisor, Larry Kudlow.Kudlow came out saying that that he supports a strong U.S. dollar policy noting, "I would buy King Dollar and I would sell gold." "I'm not saying the dollar has to go up 30%, I'm just saying let t...Read More
JOHANNESBURG (miningweekly.com) – LSE-listed Gem Diamonds has recovered a 169 ct to white colour Type IIa diamond at its Letšeng mine, in Lesotho.This is the seventh diamond larger than 100 ct recover at the mine so far this year.AdvertisementTo watch Creamer Media's latest video reports, click here AdvertisementRead More
The comments above & below is an edited and abridged synopsis of an article by Alex DeluceGlobal debt has reached record heights without any signs of relief. While central bankers try to explain away the phenomenon of these out-of-control numbers, it's not much of a mystery. Immediate consumption with the promise of repayment sometime in the future has consequences. Global debt will likely never b...Read More
The comments above & below is an edited and abridged synopsis of an article by Mark O'ByrneOver 2.6 million women in the UK have been told they won't receive their pensions as expected. Those born in the 1950s have had their retirement ages increased from 60 to 65 years of age. Pensions crises are becoming the norm. As well as the women affected by the UK's Pensions Act, there are thousands of me...Read More
The comments above & below is an edited and abridged synopsis of an article by David HaggithThe smart money gets out of the stock market when it hits its all-time peak, and the dumb money helps the smart money out. It typically happens this way:At the end of a euphoric rally when the market is preparing to crash, everyone is opening trading accounts and chasing the tail of market action. Many thro...Read More
The comments above & below is an edited and abridged synopsis of an article by David StockmanThe markets are due for a pin to burst their gigantic bubble. Among the many sharp edges:The virtual certainly of a recession within the next two years, and a typical 30%-50% drop in earnings;The Fed pivoting to Quantitative Tightening (with other major central banks to follow), and the consequent massive...Read More
The comments above & below is an edited and abridged synopsis of an article by Arkadiisz SieronThere are basically four business cycles: expansion, peak, contraction and trough. The US economy has had a 9-year upswing; February 2018 marked the 102nd month of economic recovery for the third-longest expansion in post-war history.It was also the weakest expansion, now with rising interest rates and i...Read More
The comments above & below is an edited and abridged synopsis of an article by Frank ShostackPrior to 1933, the dollar referred to a unit of gold that had a weight of 23.22 grains. Since there are 480 grains in one ounce, this means that 'dollar' also stood for 0.048 ounce of gold. This meant that one ounce of gold referred to $20.67.The present floating exchange-rate system is a by-product of the...Read More
The comments above & below is from an article by RTThe National Bank of Hungary (MNB) has announced it is bringing home the country's 100,000 ounces (3 tons) of gold reserves from London.The decision to repatriate gold reserves, in total worth some 33 billion Hungarian forint (US$130 million), was also explained as being for safety reasons, in case of a potential geopolitical crisis.It is also i...Read More
Click Here to Listen to the InterviewHighlightsWolfStreet.com founder, Wolf Richter makes his show debut with cautionary comments on the US domestic economy.The national unemployment rate remains at 17 lows 4.1% and employers added 313,000 new jobs to the workforce last month.Wolf Richter counters with increasing credit card / auto-loan default rates, elevated consumer debt levels and lower auto s...Read More
Cryptocurrencies are growing rapidly as an asset class and bitcoin is the primary driver of that growth. Bitcoin has been compared to gold Continue...Read More
"The purchase, sale or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind."Continue...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Fund manager Adrian Day reviews recent developments at several gold and resource companies. Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE, US$9.87)is paying C$98 million for a 5% royalty on Victoria Gold Corp.'s (VIT:TSX.V) shovel-ready Eagle Gold Project in the Yukon, Canada; and buying another $50 million of stock in the company, taking its interest to 16%. Other nearby deposits are included in t...Read More