Recent News

Sibanye-Stillwater turns off dividend tap after annual loss

February 22, 2018 / www.mining.com

JOHANNESBURG, Feb 22 (Reuters) - Precious metals producer Sibanye-Stillwater cut off the dividend stream that has made it an investor darling after reporting an attributable loss for 2017 on Thursday.Sibanye's share price fell 13 percent, underscoring disappointment among investors who have grown accustomed to hefty dividends from the Gold Fields spin-off."It's the cash flow. There is no cash to p...Read More

U.S. Treasury to sell $118 bln in bills

February 22, 2018 / www.kitco.com

WASHINGTON, Feb 22 (Reuters) - For details of the U.S. Treasury's auctions of 13-week, 26-week and 52-week bills next week, see:13-week bills 26-week bills 52-week bills (Washington economics newsroom) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; h...Read More

Walkabout, Koza Altin unit team up for Northern Irish gold hunt

February 22, 2018 / www.kitco.com

LONDON, Feb 22 (Reuters) - Australia's Walkabout Resources has entered a joint venture with Koza Ltd, a British subsidiary of Turkish miner Koza Altin , to explore for gold and other metals at Slieve Gallion in Northern Ireland.Koza Altin's founder Akin Ipek set up Koza Ltd and fled Turkey after relations between the government and followers of U.S.-based Islamic cleric Fethullah Gulen soured. Muc...Read More

Kaz Minerals sets higher output targets for 2018 as profits jump

February 22, 2018 / www.mining.com

LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More

Kaz Minerals sets higher output targets for 2018 as profits jump

February 22, 2018 / www.mining.com

LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More

RPT-Mexico price shocks could slow downward path of inflation-minutes

February 22, 2018 / www.kitco.com

(Repeats to attach to corrected alerts, no change to content)MEXICO CITY, Feb 22 (Reuters) - Most of Mexico's central bank board are concerned that recent shocks to consumer prices could slow a projected drop in annual inflation back to policymakers' 3 percent target, minutes from the last decision showed on Thursday.Banco de Mexico's governing board unanimously voted to hike the key rate by 25 b...Read More

Kaz Minerals sets higher output targets for 2018 as profits jump

February 22, 2018 / www.mining.com

LONDON, Feb 22 (Reuters) - Kazakhstan-focused Kaz Minerals on Thursday reported a jump in 2017 sales and production as its main mines ramped up and said it expected its 2018 output to rise as much as 16 percent.The London-listed miner, which mainly mines copper and gold, said 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) excluding special items rose to $503 million f...Read More

Intesa Sanpaolo to refinance 11 bln euros in bonds this year-CFO

February 22, 2018 / www.kitco.com

MILAN, Feb 22 (Reuters) - Intesa Sanpaolo is planning to refinance in full 11 billion euros ($14 billion) in wholesale bonds coming to maturity in 2018, the chief financial officer of Italy's biggest retail bank said on Thursday.Stefano Del Punta told Reuters in a phone interview the bank did not have large refinancing needs this year, as it was still relying on cheap funding provided by the Europ...Read More

US copper stocks sprint to record high, reflecting transport costs, weak demand

February 22, 2018 / www.mining.com

LONDON, Feb 22 (Reuters) - Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources say.Trading sources added that stocks in these two locations are likely to keep rising until prices are high enough to offset costs of transporting the copp...Read More

EU presidency seeks to ease new rules on foreign banks

February 22, 2018 / www.kitco.com

* Proposed changes likely to mollify U.S. banks* The new rules could affect UK banks after Brexit* Amendments would remove some banks from scope of rules By Huw Jones and Francesco GuarascioLONDON/BRUSSELS, Feb 22 (Reuters) - The European Union has been urged by its presidency to ease proposed new regulations on foreign banks within the block to bring them in line with U.S. requirements, EU docum...Read More

CANADA STOCKS-TSX little changed as investors weigh earnings reports

February 22, 2018 / www.kitco.com

Feb 22 (Reuters) - Canada's main stock index was little changed on Thursday as investors took in a raft of corporate earnings and as resource-related shares benefited from a rise in commodity prices.* At 10:15 a.m. ET (15:15 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 20.68 points, or 0.13 percent, at 15,544.69.* Magna International Inc provided one of the biggest boosts...Read More

UPDATE 1-U.S. commercial paper supply records biggest weekly drop since July

February 22, 2018 / www.kitco.com

(Recasts lead, adds background)NEW YORK, Feb 22 (Reuters) - The amount of U.S. commercial paper outstanding recorded its steepest one-week decline in seven months this week, suggesting a further drop in short-term corporate borrowing activity, Federal Reserve data showed on Thursday.Companies sell these short-term debt to money market mutual funds and other investors to raise cash to finance their...Read More

Parity Group Plc: The 'best-kept secret' in recruitment and consultancy

February 22, 2018 / www.proactiveinvestors.co.uk

Alan Rommel, chief executive of Parity Group Plc (LON:PTY), tells Proactive their aim is to become a leading provider of digital services to their clients through two complimentary businesses.''The first of those is a consultancy business which focuses on larger deliverables ... higher margins, higher value, longer-term contracts ... increasingly focused on the data markets and data analytics''.''...Read More

UPDATE 1-Novatek seeks Saudi Aramco as partner in Arctic LNG-2

February 22, 2018 / www.kitco.com

(Adds detail)MOSCOW, Feb 22 (Reuters) - Novatek is interested in Saudi Aramco joining the Arctic LNG-2 plant as a partner, the Russian gas producer's head Leonid Mikhelson said on Thursday, highlighting growing ties between Russia and Saudi Arabia. Both countries have been instrumental in implementing a global pact on cutting oil production by almost 1.8 million barrels per day.Novatek and its pa...Read More

OceanaGold Posts Record Quarterly, Annual Profit

February 22, 2018 / www.kitco.com

OceanaGoldCorp. (TSX, ASX: OGC) reports a record net profit for both the fourth quarterand full-year 2017, helped by record revenues. The full-year profit was $172million, or 28 cents a share, up from $136 million, or 22 cents, in 2016. Theincrease was 26% despite a non-cash impairment of $18 million taken in thesecond quarter, OceanaGold says. Record annual revenue was $724 million, 15%higher tha...Read More

Clovis Oncology Stock Boosted By Promising Regulatory Update

February 22, 2018 / www.schaeffersresearch.com

Clovis Oncology Inc (NASDAQ:CLVS) stock is up 7.4% to trade at $59 this morning, after the company received a positive trend vote from a European Union (EU) committee for its ovarian cancer drug marketing application. In response, RBC upgraded CLVS stock to "outperform" from "sector perform," while cutting its price target to $72 from $80. The analyst in coverage is calling for a positive outcome...Read More

A Critical Test Of Support For Gold

February 22, 2018 / seekingalpha.com

Gold and gold ETF now testing critical near-term benchmark price.Failure to hold above this level would break the immediate-term trend.Fear factor still high, so don't give up on the metal yet. Spot gold closed lower on Wednesday after its biggest daily slide in 10 weeks the previous day. Gold struggled to rise in the face of a higher U.S. dollar index and ignored weakness in U.S. equities for...Read More

US STOCKS-Tech, industrial shares drive Wall St higher

February 22, 2018 / www.kitco.com

* U.S. weekly jobless claims fall more than expected* Bond yields ease from Wednesday's peak* Futures pick up after Bullard's comment on rates* Indexes up: Dow 0.87 pct, S&P 0.77 pct, Nasdaq 0.7 pct (Updates to open)By Sruthi ShankarFeb 22 (Reuters) - Wall Street's main indexes rose on Thursday, led by gains in technology and industrial shares as investors looked past fears of more interest ra...Read More

New tax pushes Dubai inflation up moderately in January

February 22, 2018 / www.kitco.com

By Andrew TorchiaDUBAI, Feb 22 (Reuters) - Dubai consumer inflation rose only moderately in January when the United Arab Emirates introduced a 5 percent value-added tax, as authorities look to balance a need to increase state revenues with continued economic growth.Last month's imposition of VAT on the UAE's low-tax economy, designed to strengthen state finances in the face of low oil prices, was...Read More

Croatia to offer 1.3 bln HRK at T-bill auction again

February 22, 2018 / www.kitco.com

ZAGREB, Feb 22 (Reuters) - Croatia will offer 1.3 billion kuna ($215.35 million) worth of treasury bills at an auction next week, the same amount itoffered this week, the Finance Ministry said on Thursday.On Feb. 27 the ministry will offer one-year paper, which has been regularly on offer in recent auctions. Occasionally the ministry also offers bills of three-month and six-month maturities as wel...Read More

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