McEwen Mining (MUX) was trading 3% lower on Thursday after the Toronto-based company announced suspension of a shareholder payout just a day before the record date.Chairman Rob McEwen, who owns 23% of the company worth $586 million in New York, said it decided on the freeze because of operating issues at the Black Fox mine in Ontario and with the startup of its Nevada project Gold Bar:"While viewe...Read More
Murchison Minerals (TSXV: MUR) announced this week that it is now the sole owner of the Haut Plateau du Manicouagan (HPM) nickel-copper-cobalt project in Qu?(C)bec, following its acquisition of Pure Nickel's (TSXV: NIC) 50% interest in the project.To be able to complete the transaction, Murchison had to make a $50,000 payment and issue 500,000 common shares of the company to Pure Nickel. The HPM p...Read More
Vancouver's Rathdowney Resources has named J.R.H. (Dick) Whittington its new president and CEO. During a career that spans more than 40 years, he has worked in Canada, Mexico, Panama, Papua New Guinea and Australia. He was president and CEO of Farallon Mining until its sale to Nyrstar in 2011 and later of Northern Vertex Mining. Rathdowney's main focus is its Olza zinc-lead-silver project located...Read More
OceanaGold Corp. has grown the indicated resource for its Martha underground project at its Waihi gold mine in New Zealand by 136% and inferred resources by 97%."Over the past two years, we have made prudent investments in extensively drilling out the mineralized structures beneath the Martha open pit," Mick Wilkes, OceanaGold's president and CEO, noted in a statement. "Since that time we have rep...Read More
Ivan Glasenberg, head of Glencore, will no longer be a member of the board of Russian oil major Rosneft, Rosneft board meeting minutes showed on Thursday.Glencore sold a 14.16 percent stake in Rosneft in May 2018, the company said, and now holds a stake of 0.57 percent.Rosneft listed 11 candidates for membership of the board on Thursday, all of whom were put forward by shareholders with over 2 per...Read More
China's Tianqi Lithium, the world's No.3 producer of the metal used in electric vehicle batteries, will appoint three members to the board of Chile's Chemical and Mining Society (SQM), as it recently acquired almost a quarter of the company.The Chengdu-based producer said the chosen executives will be "fair" and "responsible toward shareholders", adding their names will be announced in April.Tian...Read More
The Toronto conference of the Prosecutors and Developers Association of Canada (PDAC) gave investors and analysts a chance to discuss the M&A surge among major gold companies and its potential effect on the smaller gold stocks this week. Even though the initial $18bn hostile bid by Barrick for rival Newmont - which aims to create the world’s largest gold mining group - is not ne...Read More
The recent rally showed quite a bit of promise.Gold stocks surged past their long-term moving averages while breadth indicators surpassed all prior bear market peaks (excluding 2016). 71% of the HUI and 81% of GDXJ closed above the 200-day moving average.GDX and GDXJ looked to be on their way to $25 and $37, with Gold approaching $1360/oz and those breadth figures on the way to hitting 90%.However...Read More
Silver has drifted lower since the start of 2019, losing almost 3% as it followed gold lower, while the uncertainty gripping financial markets which propped up precious metals in late 2018 and into 2019 has subsided. Despite this weakness, many silver miners — as evidenced by the Global X Silver Miners ETF gaining 3% for the year to date — haven't fallen sharply in value. This can be a...Read More
Goldcorp, (TSX: G, NYSE: GG) Yamana Gold, (TSX:YRI; NYSE: AUY) and Glencore (LSE:GLEN; JSE:GLN) signed an integration agreement this week that stipulates the Agua Rica copper-gold project in Argentina will be developed and operated using the existing infrastructure and facilities at the Alumbrera mine."The integration of the Agua Rica project and the Alumbrera mine has significant merit given the...Read More
The numbers are in, and man, were a lot of people wrong.Lofty estimated sales are nothing new to the investing world, especially in high-growth, untested markets.However, the latest data from the Canadian government is forcing industry analysts to throw out all of their projections.A perk of the highly regulated marijuana industry in Canada is the highly accurate data that is being published about...Read More
South Africa's Petra Diamonds (LON:PDL) has found a 100.83 carat gem-quality diamond at its iconic Cullinan mine in South Africa.The D-colour, Type II diamond follows the recent recovery of a 6.12 carat Type II blue stone, also at Cullinan.The company has piled up debt after building a new plant and digging deeper at its flagship Cullinan diamond mine."The recoveries demonstrate the prevalence of...Read More
Mar 08, 2019 Guest(s): Alicia Woods CEO, Creator, Covergalls Inc. As the world celebrates International Women's Day, Friday, one executive in the mining industry said that women have made definitive progress in "small incremental moves" throughout the sector. One factor helping women feel more confident into the workforce is Covergalls, a form-fitting coveralls designed specifically for women, c...Read More
Brazil's new right-wing government, led by former army captain Jair Bolsonaro, is going ahead with announced changes to current mining regulations, which include a controversial plan to open up indigenous reserves to mining.Most of the country's original population lives in the Amazon rainforest, which has an ecosystem seen by many as having worldwide ecological importance. Speaking at an event in...Read More
Mar 08, 2019 Guest(s): Amir Adnani, CEO, UEC President Trump will be the defining factor for uranium, said Amir Adnani, CEO of UEC. "It really is true, sitting here where we are and leading up to a decision that Trump will make in the next potentially 90 days under the Section 232 investigation that the Department of Commerce in the U.S. has," Adnani told Kitco News on the sidelines of the PDAC...Read More
Etruscus Resources (CSE: ETR) and the Tahltan Central Government (TCG) signed this week a Communications Agreement regarding the Rock & Roll property, which is located in British Columbia's Golden Triangle and within Tahltan territory.The 5,309-hectare property, which has been explored since the late 1800s, is 100% owned by Etruscus. A 2018 NI 43-101 compliant inferred resource estimates the resou...Read More
The recent rally showed quite a bit of promise.Gold stocks surged past their long-term moving averages while breadth indicators surpassed all prior bear market peaks (excluding 2016). 71% of the HUI and 81% of GDXJ closed above the 200-day moving average.GDX and GDXJ looked to be on their way to $25 and $37, with Gold approaching $1360/oz and those breadth figures on the way to hitting 90%.However...Read More
Crystal Lake Mining's (TSXV: CLM; US-OTC: SIOCF) maiden drill program has uncovered a new copper discovery consisting of more than 20 mineralized zones at its 430 sq. km Newmont Lake project northwest of Eskay Creek in B.C.'s Golden Triangle.Last fall the company drilled 550 metres across four reverse circulation holes at the project's Burgundy Ridge target, hitting copper, gold and silver mineral...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average fell Friday for a fifth straight day Friday after the U.S. economy added far fewer jobs than expected in February.Costco Wholesale (COST) posted stronger-than-expected second-quarter earnings but missed Wall Street's revenue estimates. Shares climbed 5.1%.Marvell Technology Group (MRVL) issued...Read More
Aluminium foundry premiums in Europe and the United States remain under pressure this month due to continuing weak demand in the automotive industry. Foundry premiums in Germany fell 5% month on month and are down more than 16% from the start of 2019. In Germany, the premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment...Read More