MELBOURNE/LONDON, Oct 11 (Reuters) - Australia-listed tungsten producer Wolf Minerals said on Thursday that it could not meet its short-term working capital needs after failing to reach a deal with its financial backers, and as a result its British unit would cease to trade.The ASX-listed miner has appointed Australia-based Ferrier Hodgson as a voluntary administrator, it said in a filing on Thurs...Read More
Shorts have piled on the cannabis stockTilray Inc (NASDAQ:TLRY) is 2.2% lower in electronic trading, after Eight Capital downgraded the cannabis stock to "neutral" from "buy," expressing concern over the company's valuation. While the brokerage firm did boost its price target to $70 from $32, this still stands at a sharp discount to last night's close at $136.80.The cannabis stock craze has tak...Read More
The CPI for September was softer than expectedThere'sbeen notable movement in U.S. stock futures this morning, with a surprising consumer price index (CPI) pulling futures off theirlows. The closely watched inflation gauge came in weaker than expected for September, momentarily calming investor nerves about rising interest rates. While the Dow Jones Industrial Average (DJIA) is still set to open l...Read More
NEW YORK (Reuters) - Rising costs for companies are worrying investors already concerned about a step down in U.S. corporate profit growth next year as Wall Street’s focus turns away from 2018’s tax-fueled earnings boost. *Investors are on edge after a recent sharp pullback in U.S. equities, including the biggest daily drop in the Dow and S&P 500 since Feb. 8 on Wednesday. A spike...Read More
KERIO VALLEY, Kenya, Oct 11 (Thomson Reuters Foundation) - Nathaniel Tumo was astounded when an excavator arrived at his farm in western Kenya four years ago and started digging for minerals, almost bringing down his house."They started blasting a few metres away and the stones fell on my house," said Tumo, 62, his breath laboured from living alongside the open pit, with its dust, noise and fallin...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
"CEO of the beverage giant behind #Corona: #Cannabis is one of the 'most significant' growth opportunities of the next decade https://t.co/s37heTAnlC via @"Read full newsRead More
Prophecy Development Corp. (TSX: PCY, Frankfurt:1P2N) announces that Gerald Panneton is the company’s newchief executive officer and president. Panneton, a geologist who was thefounder, president and CEO of Detour Gold Corp. from its incorporationin 2006 until late 2013, succeeds John Lee, who will remainchairman of the Prophecy board of directors. Prophecy...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Goldextended early gains after Labor Department data Thursday showed that initialweekly U.S. jobless claims rose by 7,000 to a seasonally adjusted 214,000in the week to Saturday. Consensusexpectations compiled by various news organizations had called for initialclaims to be around 205,000 to 207,000. The govern...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold extended early gains after Labor Department data Thursday showed that initial weekly U.S. jobless claims rose by 7,000 to a seasonally adjusted 214,000 in the week to Saturday. Consensus expectations compiled by various news organizations had called for initial claims to be around 205,000 to 207,000. The g...Read More
(Kitco News) - Gold prices rose to daily highs and were firmly above the key $1,200 level following September’s inflation data, which fell short of market expectations. The U.S. Consumer Price Index rose 0.1% in September after advancing 0.2% in August, the U.S. Labor Department said on Thursday. Consensus forecasts were calling for a rise of 0.2%. In an immediate reaction to the data, gold...Read More
Equities got clobbered on Wednesday and this morning we are seeing some follow-through to the downside. Gold and silver rallied on Wednesday but not as much as you would have thought based on the trashing of equities. However, both are joining the Jeffersons this morning and are “moving on up.” As we have written many times, we don’t look at gold as a safe-haven play; we look at...Read More
(Kitco News) - Gold finds its legs after the crush in global equity markets yesterday. The rising yields with the uncertainty of the trade war with China became too much for equity investors and the herd headed for the exits. The scenario suggests that it was a safe haven play, but generally when equities collapse the first move for gold is lower, as investors raise cash to meet margin calls. This...Read More
Equities got clobbered onWednesday and this morning we are seeing some follow-through to the downside.Gold and silver rallied on Wednesday but not as much as you would have thoughtbased on the trashing of equities. However, both are joining the Jeffersonsthis morning and are “moving on up.”As we have written many times, wedon’t look at gold as a safe-haven play; we look at it as...Read More
(Kitco News) - Gold pricesare solidly higher and back above $1,200.00 in early U.S. trading Thursday, onsafe-haven demand amid steep sell-offs in world stock markets that have spookedtraders and investors around the globe. A very tame U.S. inflation report isalso boosting the metals markets. And a lower U.S. dollar index today is alsoworking in favor of the precious metals bulls. December gold fu...Read More
(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) late Wednesday reported thatproduction of both gold and copper rose in the third quarter from the secondand also reiterated its output guidance for 2018.The world’s largest gold-mining company, which last month agreedto purchase Randgold Resources Ltd. in an all-stock deal, listedJuly-September output of 1.15 million ounces of gold and sales...Read More
While gold and the related exchange traded funds are struggling this year, some investors remain fond of the yellow metal and some ETF issuers are rewarding that faith with lower expenses. Upstart ETF issuer GraniteShares announced a new, reduced annual expense ratio for the GraniteShares Gold Trust BAR, -0.38% BAR debuted in August with an annual fee of 0.20 percent, or $20 on a $10,000 investmen...Read More
(Updates with closing prices)By Peter HobsonLONDON, Oct 11 (Reuters) - Industrial metals prices fell onThursday, caught by a global stock market sell-off, with leadhitting its lowest in more than two years, but the market hadmostly recovered by the close of trading.Benchmark LME lead sank to its lowest sinceSeptember 2016 at $1,876 but ended the session 4.7 percenthigher at $1,999 per tonne. Alumi...Read More
Gold producers show gainsRead full newsRead More
A Canadian company focused on develop mining technologies and robotics for the resource sector is partnering with Moon Express, the first American private space exploration firm to have been granted government permission to travel beyond Earth's orbit, on future opportunities in outer space.Northern Ontario-based Deltion Innovations will help Florida-based Moon Express collect, process, store a...Read More