London Stock Exchange (LON:LSE) is expected to report a record increase in full year profits on Friday despite being without a permanent chief executive after Xavier Rolet was forced out by the chairman.Analysts forecast a 25% rise in earnings to ?955mln in 2017.However, the results are likely to be overshadowed by questions about the group's leadership following the departure of Rolet in No...Read More
Adam Waugh, chief executive of BlueRock Diamonds PLC (LON:BRD), tells Proactive they're expecting to ramp up production this year at the Kareevlei diamond mine in South Africa as they operate from the upgraded plant.Waugh estimates they can achieve an average grade of between 3.5 carats per hundred tonnes (cpht) and 4.5 cpht, indicating total production of between 9,500 and 12,500 carats.Last year...Read More
Chile's Chemical and Mining Society (SQM), one of the world's largest lithium producer, said global demand for the white metal, a key ingredient in the making of batteries that power electric vehicles, will continue to grow at rate of roughly 80% annually in the next five years.According to chief executive officer Patricio de Solminihac, the world will need at least 50,000 tonnes of lithium a yea...Read More
The numbers: Construction spending was virtually unchanged in January, but from an upwardly revised December baseline of $1.26 trillion annual rate, the Commerce Department said Thursday. What happened: Outlays on construction remain strong. Overall spending in 2017 was about 4% higher than in 2016, and touched an all-time high. January spending was led by the public sector, which increased...Read More
(Bloomberg) - Australian mining legend Lang Hancock's dream four decades ago of exporting coal from the country's remote Galilee Basin is becoming a nightmare for two Indian conglomerates.Adani Group bought into the Queensland basin in 2010, followed a year later by GVK Group, with plans to ship thermal coal by the middle of the decade. Deals to build ports and rails signaled early promise, but t...Read More
Vancouver, BC - Select Sands Corp. (TSX-V:SNS | OTCQX: SLSDF) (the "Company") is pleased to announce is pleased to announce that the Company has increased its line of credit ("LOC") with First Community Bank of Arkansas, USA from $2M USD to $5M USD. The Company plans to draw down on these funds, when necessary for growth and working capital requirements. No draws have been made to date.Zig...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
Ontario is helping Smooth Rock Falls open a new grocery store, after the community's only grocery store was destroyed by a fire in 2015. Through the Northern Ontario Heritage Fund Corporation (NOHFC), the province partnered with the Town of Smooth Rock Falls to purchase and renovate a building on Highway 11 in the community for use as a grocery store. This renovation project includes upgrades to...Read More
(Bloomberg View) - Although it's small and mostly poor, Guatemala sits on a heap of treasure. Last year, it ranked as the world's 15th-largest producer of silver, a nest egg that could yield economic growth and taxes and royalties, helping to hoist millions from misery.So why is the Escobal silver mine, one of the world's largest, idle? In 2014, when the Canadian-owned Tahoe Resources Inc. starte...Read More
Wall Street is cheering Salesforce.com, Inc.'s (NYSE:CRM) fourth-quarter results this morning, as the stock rallies to record highs. The cloud services provider posted quarterly profit and revenue that topped expectations, and its current-quarter top- and bottom-line forecasts were also better than expected. According to Thomson Reuters, this is the eighth straight quarter the tech company's beat...Read More
Shares of Novavax, Inc. (NASDAQ:NVAX) have jumped 16.1% to trade at $2.51 -- fresh off an annual high of $2.75 -- after the drugmaker reported positive early stage study results for its flu vaccine, NanoFlu, in patients 60 years or older. NVAX stock has now nearly doubled in value on a year-to-date basis, putting the pressure on stubborn analysts to upwardly revise their ratings.In fact, of the ei...Read More
Rates for home loans churned higher as investors braced for more interest rate increases and inflation quickened. The benchmark 30-year fixed-rate mortgage averaged 4.43% during the week ending March 1, according to Freddie Mac's weekly survey, out Thursday. That was up three basis points from the prior week and leaves rates nearly half-a-percentage point higher than the level at which they starte...Read More
Retail earnings have been in the spotlight this week, with Macy's (M) and Best Buy (BBY) among the companies scoring earnings wins. Today, we will look at Gap Inc (NYSE:GPS) and Nordstrom, Inc. (NYSE:JWN) stocks ahead of the retailers' earnings reports tonight, and how options traders are expecting much bigger-than-usual reactions this quarter. Gap Surrounded By Pre-Earnings SkepticismGap stock t...Read More
FAANG stocks have been making headlines this week, and today, all eyes are on streaming service Netflix, Inc. (NASDAQ:NFLX), which announced a partnership with U.K.-based pay-TV concern, Sky. As part of the deal, Sky -- which is the center of a fierce buyout battle between two media giants --will add NFLX to its subscription bundle for Sky European users. On the charts, NFLX has had a great year...Read More
Walmart Inc (NYSE:WMT) stock is trading lower after the retailer announced it will stop selling firearms and ammunition to persons under the age of 21. This comes just one day after a similar move from Dick's Sporting Goods (DKS), which ended the sale of its assault-style rifles and high-capacity magazines. WMT shares were last seen down 1.1% at $89.03. The equity scored a record high of $109.98...Read More
Mr. Cooper Quinn reportsDRILL ASSAY RESULTS FROM MITCHELL LAKE ZONE RETURN 9.26 G/T GOLD OVER 0.5 METRES AND A BROADER DISSEMINATED INTERCEPT OF 30.50 METRES GRADING 0.70 G/T GOLDOsprey Gold Development Ltd. has released assay results from three holes drilled on the western portion of the Goldenville property in the Mitchell Lake zone. The company's Goldenville property is located in Guysborough c...Read More
Mr. Cooper Quinn reportsDRILL ASSAY RESULTS FROM MITCHELL LAKE ZONE RETURN 9.26 G/T GOLD OVER 0.5 METRES AND A BROADER DISSEMINATED INTERCEPT OF 30.50 METRES GRADING 0.70 G/T GOLDOsprey Gold Development Ltd. has released assay results from three holes drilled on the western portion of the Goldenville property in the Mitchell Lake zone. The company's Goldenville property is located in Guysborough c...Read More
Gold's main driver, fear, is a double-sided coin.Gold's price can suffer during stock market declines, but not for long.Latest bout of global market jitters paves the way for next gold rally.It's widely known among gold investors that one of the metal's biggest drivers is safety-related demand among investors who worry about the outlook for equities or the economy. Indeed, we've witnessed...Read More
Futures on the Dow Jones Industrial Average (DJI) are trading below fair value this morning, signaling a third consecutive day of losses. Traders will turn their attention back to Fed Chair Jerome Powell, who will again be testifying before Congress. Ahead of this, Wall Street is weighing a surprising drop in weekly jobless claims, while personal incomes and wages rose in January, and consumer inf...Read More