Australia's Lucapa Diamond (ASX:LOM) said Monday it had achieved gross proceeds of $1.7 million (A$2.1 million) from selling 2,072 carats recovered at its prolific Lulo mine in Angola.The sale, the second this year, included a 1.9-carats vivid pink diamond and a 44-carats rock, the largest in the parcel.The figure obtained represents an average price per carat of $804, the company said, adding tha...Read More
Australia's Lucapa Diamond (ASX:LOM) said Monday it had achieved gross proceeds of $1.7 million (A$2.1 million) from selling 2,072 carats recovered at its prolific Lulo mine in Angola.The sale, the second this year, included a 1.9-carats vivid pink diamond and a 44-carats rock, the largest in the parcel.The figure obtained represents an average price per carat of $804, the company said, adding tha...Read More
Forget cryptocurrency - the next big "gold rush" isn't even on Earth.Read full newsRead More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index popped as high as 1290.99 before slicing through supports in the 1270s to close at 1259.08. The Index lost 21 points for a loss of 1.6%, as it recorded its first decline in three weeks.Support is now at 1251 and 1241. Resistance is at 1260 (which...Read More
By John Ing, President & CEOMaison Placements Canada IncIn January the stock market recorded all-time highs in its strongest start since 1987, as investors gave a "thumbs up" to the Trump growth agenda of massive tax cuts, infrastructure spending and a loosening of regulations. Business too gave a "thumbs up" for an economic recovery that was tentative for so long but finally is taking root....Read More
Gold prices could break above $1,400 an ounce for the first time since 2013 this year as an uncertain outlook for stocks, bonds and currencies tempts investors to use the precious metal as a safe haven, according to a Reuters survey of analysts. Key drivers: The recent stock market volatility, and U.S. President Donald Trump's congressional tax deal and proposed budget that signal ballooning debt...Read More
Rising inflation has put gold back on the radar for investors looking to protect themselves from emerging price pressures, but history suggests its reputation has been overstated.The experience of the last 50 years suggests gold performs better as a hedge against inflation shocks - like the spike caused by surging oil prices in the late 1970s and early 1980s - than the widely anticipated grind hig...Read More
Prices in the global steel billet market continued climbing in the week ended Friday March 2 as market factors supported the upward trend.One of the major factors was the surge in domestic billet prices in China after the week-long lunar new year holiday.Steady growth in import scrap prices in Turkey was another supportive factor for the global billet market.Metal Bulletin's daily index for Northe...Read More
Prices in the global steel billet market continued climbing in the week ended Friday March 2 as market factors supported the upward trend.One of the major factors was the surge in domestic billet prices in China after the week-long lunar new year holiday.Steady growth in import scrap prices in Turkey was another supportive factor for the global billet market.Metal Bulletin's daily index for Northe...Read More
Lead and zinc prices on the London Metal Exchange both closed lower on Monday March 5, reflecting recent stock increases. Zinc hit a two-month low of $3,273.50 per tonne today after a massive 78,950-tonne delivery into LME-listed warehouses in New Orleans. The metal was still $59 per tonne lower at $3,296 at the 5pm London close.The metal's cash/three-month spread briefly swung back into contango...Read More
The largest zinc delivery in nearly five years has swung zinc's London Metal Exchange cash/three-month spread into contango for the first time in 2018. Some 78,950 tonnes were delivered into LME-approved warehouses in New Orleans on Monday March 5 - the largest inflow since July 2013, increasing on-warrant stock levels by 94%. And it is not just the LME which has seen stocks rising; Shanghai Futur...Read More
Bob Moriarty ArchivesMar 05, 2018Napoleon said that he would rather have his generals be lucky rather than skillful under the theory that you can always beat skill but you can never beat luck. It sounds like a great theory to me.Prosper Gold (PGX-V) is headed by Peter Bernier who founded Richfield Ventures, drilled 14 holes, found gold in 13 and sold out in two years for $500 million after spendin...Read More
Hydro chief financial officer Eivind Kallevik has been appointed interim head of bauxite and alumina amid the company's disrupted operations and a force majeure at its Alunorte alumina refinery in Par??, Brazil. Kallevik held the position as head of finance for bauxite and alumina in Brazil for two years before becoming CFO in 2013. He also led the bauxite and alumina division for an interim perio...Read More
The Chinese ferro-silicon market dropped on Friday March 2, with one major tender signaling a slower return in demand from Chinese consumers after the recent national week-long holiday. Chinese steel tenders signal shift in demand Other consumer markets also dropped European market moves sideways, eyes March business US steady on reduced imports Chinese domestic ferro-silicon pr...Read More
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
Hydro chief financial officer Eivind Kallevik has been appointed interim head of bauxite and alumina amid the company's disrupted operations and a force majeure at its Alunorte alumina refinery in Par??, Brazil. Kallevik held the position as head of finance for bauxite and alumina in Brazil for two years before becoming CFO in 2013. He also led the bauxite and alumina division for an interim perio...Read More
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
Click to EnlargeThe property agreement allows LiCo to acquire a 100% interest in the mining rights for the Glencore Bucke property in Bucke Twp., 6 km east of Cobalt, Ontario.The purchase agreement includes a back-in provision, production royalty and an off-take agreement in favour of Glencore, which ranks as one of the world's largest producers of cobalt. Glencore Canada is a subsidiary of Glenco...Read More
The Atlantic alumina market will swing back to a premium over the Pacific as a result of a 50% cut to output, and subsequent force majeure announcement, from Hydro's Alunorte refinery in Brazil, according to market participants spoken to by Metal Bulletin. The tightness resultant from the cut to Hydro's production will be sufficient to see alumina trade at a premium in the Atlantic, while absolute...Read More
Chinese silicon metal export prices continued to edge up on Friday March 2 amid renewed buying interest from Japanese buyers last week. Metal Bulletin's Chinese grade 553 silicon metal export price moved up to $2,010-2,050 per tonne on Friday, up 0.2% from the previous week. Tightness on spot availability persisted and is expected to be a dominant theme for March as a result of the halt of op...Read More