Gold imports in India for the month of January surged 72% from a year earlier. It saidContinue...Read More
Pot stocks were blazing today after getting smoked last year.Big action in platinum may be the start of bigger action in precious metals.Oil prices make new post-covid highs.Signs point to a possible peak in MicroStrategy's stock.Jerome Powell encourages the government to get into a deeper hole.Puerto Rico would be one of the biggest losers of the minimum wage.Virtue signaling is harming the poor...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 11 that are worth another look.Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday. The project aims to increase col...Read More
David H. Smith, senior analyst for The Morgan Report, reviews Bob Moriarty's new book, "What Became of the Crow?: The Inside Story of the Greatest Gold Discovery in History," a real-life "epic geological detective thriller." Bob Moriarty's newest book, partially titled "What Became of the Crow," is likely to be his Magnum Opus and if it isn't, it should be! Like a great symphony that starts out s...Read More
Troilus Gold's latest results from the Southwest zone are discussed in a Stifel GMP report. In a Feb. 9 research report, Stifel analyst Ian Parkinson reported that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) is continuing to "focus on ounces that count" at its Troilus project. "TLG is out this morning with accretive drilling results from the Southwest Zone, a low risk open pit growth deposit first...Read More
The winter work Newrange Gold is doing at North Birch in Ontario and Pamlico in Nevada is summarized in a Noble Capital Markets report. In a Feb. 9 research note, Noble Capital Markets analyst Mark Reichman reported that Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) is advancing two projects, North Birch in Ontario and Pamlico in Nevada."With Newrange getting closer to understanding the potential so...Read More
Turkish steel billet prices have increased this week in line with rising imported scrap values, which also triggered demand especially for exports, market sources said on Thursday February 11.The country's steel mills resumed their deep-sea scrap bookings on Wednesday, raising prices by around $10 per tonne.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $...Read More
Cross River Ventures Corp. reported it added a critical structural corridor to its McVicar Gold Project in northwestern Ontario, forming a contiguous district scale property covering 11,946 hectares. In a news release, Cross River Ventures Corp. (CRVC:CSE; CSRVF:OTC; C6R:FWB) announced "further consolidation of its project holdings in northwestern Ontario through the acquisition of additional min...Read More
Irving Resources reported it encountered high grade vein intercepts in every hole drilled at the Omui Mine Site's Nanko target and is now initiating its 2021 drill program targeting Omu Sinter. In a news release, Vancouver-based mineral exploration company Irving Resources Inc. (IRV:CSE; IRVRF:OTCQX) reported that assay results from recent diamond drill work completed at the Nanko vein target dis...Read More
This deal takes Ely Gold Royalties' interest in the leased mining claims at Hog Ranch to 75.01% and its royalty there to 2.25%. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQX; I4U:FSE) announced in a news release that through its subsidiary Nevada Select Royalty Inc. it agreed to acquire from Platoro West another 25% interest in the Hog Ranch property in Nevada. This transaction will boost Ely's...Read More
New assays from the M-zone at Scottie Resources' Scottie project include 12.6 grams per ton gold and 4.43 grams per ton silver over 5.22 meters. In a news release, Scottie Resources Corp. (SCOT:TSX.V) announced results of three holes from its 2020 infill and expansionary drilling around the Scottie gold mine's M- zone.Last year's program "continues to deliver strong results that indicate that the...Read More
Demand for steel billet and rebar was still very poor in Egypt in the week to Thursday February 11 but producers were not giving discounts because of increasing prices for raw materials, sources have told Fastmarkets.Egyptian demand for long steel products has been weak since the country imposed a ban on construction in May 2020.The rules of the ban were eased in September 2020, but that did not h...Read More
After a frenzy of Reddit inducedactivity that captivated everyone, silver painfully gave back what it gained.What’s next for the white metal?As the precious metals’ version of moralhazard, silver tipped over the flowerpot, and left gold to clean up the mess.After silver’s short squeeze mania ended in tears on Feb. 2, the white metalgave back 97% of its squeeze -induced gains. Con...Read More
Stocks keep cooling off at their highs, and calling for acorrection still seems to be many a fool‘s errand. Does it mean all is fine inthe S&P 500 land? Largely, it still is. Such were my yesterday‘s words: (…) It‘s still strong the stock market bull, and standingin its way isn‘t really advisable. With the S&P 500 at new highs, and theanticipated slowdown in...Read More
The Volkswagen Group is developing an air taxi that will allow passengers to skip land-based gridlock and avoid public transport amid the ongoing Covid-19 pandemic."We're developing a drone that's ready to be licensed. That opens the possibility for us to participate in the future market of individual mobility that takes place in the air and not down on the streets," Volkswagen Group China chief e...Read More
Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday February 11.The project aims to increase cold-rolling and galvanizing capacity by 700,000 tonnes per year at ArcelorMittal's Vega do Sul un...Read More
A summary of ArcelorMittal's financial results for October-December 2020.In briefTotal steel shipments fell during the quarter compared with a year earlier due to global steel demand being lower than pre-Covid-19 levels despite a gradual improvement, ArcelorMittal said.The company's earnings increased as a result of a price recovery in Brazil; lower fixed costs and improved performance by its mill...Read More
The Volkswagen Group is developing an air taxi that will allow passengers to skip land-based gridlock and avoid public transport amid the ongoing Covid-19 pandemic."We're developing a drone that's ready to be licensed. That opens the possibility for us to participate in the future market of individual mobility that takes place in the air and not down on the streets," Volkswagen Group China chief e...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 11 that are worth another look.Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday. The project aims to increase col...Read More
Confirmed deals have driven hot-rolled coil prices in the United States over $59.50 per hundredweight ($1,190 per short ton), to an all-time high.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $59.63 per cwt ($1,192.60 per ton) on Thursday February 11, up by 0.98% from $59.05 per cwt the previous day and 0.68% higher than $59.23 per cwt one week ago.Inputs were...Read More