* Estimated mine value has fallen to $400 mln -sources* Sale prospects complicated by new mining code in DRC* ERG aims to reduce $6 bln debt burdenBy Clara Denina and Dasha AfanasievaLONDON, March 7 (Reuters) - Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400 m...Read More
• Struggles to gain traction, despite supportive factors. • Traders opt to take some profits off the table. • US ADP report eyed for some fresh trading impetus. Gold extended its steady retracement slide from 1-1/2 week lows and traded with a mild negative bias through the mid-European session. Reviving fears of a possible globa...Read More
(Kitco News)- One mining analyst said that hethinks the threat of a global trade war is overblown and investors shouldinstead look at all the good President Donald Trump has done for the mining sector,particularly for companies focused in the U.S.Mickey Fulp, creator of theMercenary Geologist newsletter, said in an interview with Kitco News on thesidelines of the 2018 Prospectors & Developers...Read More
(Kitco News) - One mining analyst said that he thinks the threat of a global trade war is overblown and investors should instead look at all the good President Donald Trump has done for the mining sector, particularly for companies focused in the U.S.Mickey Fulp, creator of the Mercenary Geologist newsletter, said in an interview with Kitco News on the sidelines of the 2018 Prospectors & Devel...Read More
BRUSSELS (Reuters) - The European Union on Wednesday offered Britain a free trade agreement for their post-Brexit relationship that fell well short of ambitions set out by Prime Minister Theresa May last week, notably for the key financial sector.A draft position of the remaining 27 EU members said the bloc was determined to foster a close partnership with Britain, but its depth would be limited b...Read More
Shares of light bulb producer Cree, Inc. (NASDAQ:CREE) have been strong since bottoming near $20 in August, touching a three-year high of $42.80 yesterday thanks to news the company's acquiring Infineon Technologies' radio frequency power business. This prompted a price-target hike to $37 from $30 at Cowen, which matches the consensus 12-month price target for CREE stock across Wall Street. Takin...Read More
Israeli billionaire Beny Steinmetz has been at the centre of an international investigation into alleged bribery to win mining rights in Guinea.(Image taken from Beny Steinmetz's website)* BSG Resources says operations will continue as normal* Says will "go the distance" with with its arbitration* Says it has done nothing wrongLONDON, March 7 (Reuters) - Mining company BSG Resources (BSGR) on Wed...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
WASHINGTON (Reuters) - President Donald Trump can choose from a pool of people to succeed the White House’s top economic adviser Gary Cohn, who is expected to leave soon, Press Secretary Sarah Sanders told Fox News Channel on Wednesday.“He’s got a number of people that he can choose from. But in the meantime, Gary will still be here as a voice for the next several weeks and we&rs...Read More
TOKYO (Reuters) - Japan's financial regulator will slap administrative punishment notices on several cryptocurrency exchanges this week and plans to force some to suspend their business, people with direct knowledge of the matter said on Wednesday.The Financial Services Agency may also order Coincheck Inc - the exchange targeted by hackers in a $530 million theft of digital money - to raise its st...Read More
Drugmakers Aptose Biosciences Inc (NASDAQ:APTO) and Esperion Therapeutics Inc (NASDAQ:ESPR) are both making headlines this morning, but for different reasons. We'll dig into APTO and ESPR stocks below. Aptose Biosciences Scores Deal With OHM OncologyAptose Biosciences stock is up 1.9% to trade at $3.24, after the company announced a global license deal with OHM Oncology to develop and commercializ...Read More
Getty ImagesPresident Trump is taking aim at cheap Chinese steel as part of a broad effort to reduce large U.S. trade deficits, but he's not finding much support for his proposed steel tariffs. The numbers: The U.S. trade deficit climbed 5% in January and hit a nearly 10-year high, continuing a steady rise since President Trump took over that could exacerbate already tense disputes between the a...Read More
(Reuters) - The Dow Jones Industrial Average opened 1 percent lower on Wednesday as the exit of free trade backer Gary Cohn triggered concerns that President Donald Trump may move ahead with his threat to impose hefty metal tariffs and ignite a global trade war.The Dow Jones Industrial Average .DJI fell 289.31 points, or 1.16 percent, to 24,594.81. The S&P 500 .SPX lost 23.65 points, or 0....Read More
* Canadian dollar at C$1.2914, or 77.44 U.S. cents* Bond prices higher across the yield curve* Canada's trade deficit narrows to C$1.91 billionBy Fergal SmithTORONTO, March 7 (Reuters) - The Canadian dollar weakenedagainst the greenback on Wednesday after the resignation of topU.S. economic adviser Gary Cohn added to worries of a trade war,but some losses were pared ahead of a Bank of Canada inte...Read More
The shares of Weight Watchers International, Inc. (NYSE:WTW) were in the red ahead of the bell, after spokesperson and high-profile investor Oprah Winfrey sold almost a quarter of her WTW stake. However, Winfrey's company, Harpo, said she will not sell more WTW shares this year, and the media mogul maintained that she is "deeply committed to Weight Watchers" and continues to "see a bright future f...Read More
Shares of Netflix, Inc. (NASDAQ:NFLX) are trading down 1.7% at $319.71 after Stifel downgraded the FAANG stock to "hold" from "buy." The brokerage firm also raised its price target to $325 from $283, saying it is still optimistic on the company's competitive advantage, but it believes the short-term share price has grown faster than fundamentals.Stifel's new NFLX price target is in line with last...Read More
LONDON (Reuters) - Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his top economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminum.The departure of Gary Cohn, seen as a bulwark against Trump’s economic nationalism, hit shares, oil and the dollar on Wednesday, as investo...Read More
Stock futures are signaling a sharp pullback following theresignation of White House economic advisor Gary Cohn. Cohn's departure has reignited fears of a trade war -- which have weighed on equities over the past week -- especially with European leaders warning of retaliatory tariffs. Turning to economic data, the ADP employment report for February revealed 235,000 new jobs in the private sector,...Read More
Mr. David Wolfin reportsCORAL GOLD PROVIDES OUTLOOK FOR 2018, INCLUDING BARRICK'S PLANS FOR ROBERTSON EXPLORATION Coral Gold Resources Ltd. has concluded a watershed year, highlighted by the sale of the company's Robertson property to Barrick in June, 2017. The agreement included a cash payment to Coral of $15.75-million (U.S.) (approximately $21.2-million(Canadian) based on the exchange rate at t...Read More