After being speechless and in a mild state of shock for the past 5 hours I have some thoughts on today’s market action: Today’s FOMC announcement was a tacit admission by the Fed that the economy is not nearly as strong as it appears to be using certain widely lauded data points (consumer confidence, housing… Continue Reading

Newmont Mining (NEM:NYSE) announced this morning that it has signed a letter of intent to sell its Midas operations in Nevada to private equity firm, Waterton Global.  Midas has been a staple of Newmont’s Nevada operations as it is a high grade gold-silver and has been in production since 1999.  Many analysts already anticipated depletion and shut down of… Continue Reading

Endeavour Mining (EDV:TSX) has added some depth to its roster by bringing on Ian Cockerill, Miguel Rodriguez and Frank Giustra to its strategic advisory board.  The three new members will replace Jorje L. Gamarci and Dr. Antony Harwood.  The board now consists of seven members: Michael Beckett (Chairman), Ian Cockerill, Frank Giustra, Ian Henderson, Wayne… Continue Reading

This morning Dale Corman’s Western Copper and Gold (WRN:TSX) provided an update on the developments of their Casino project in the Yukon (see Dale Corman’s Western Copper and Gold Challenge: Developing a Low-Risk Casino). WRN has completed their 2013 field program which is the end of a six-year long engineering and baseline data collection program… Continue Reading

Developments in the potash cartel saga continues as rumours are confirmed that 21.75%-owner of OAO Uralkali, Russian tycoon, Suleiman Kerimov is trying to sell his stake in the company.  The value of the sale is estimated at around $3.5 billion.  This comes after Uralkali left the Belarusian Potash Co (BPC) cartel followed by the Belarusian’s… Continue Reading

Torex Gold (TXG:TSX) put out its highly anticipated maiden resource at its Media Luna target, south of the river at its Morelos gold project in Guerrero State, Mexico.  The company announced an initial inferred resource comprised of 39.9 million tonnes at 2.63g/t gold, 24.46g/t silver and 0.97% copper which equates to 5.84 million gold equivalent… Continue Reading

As we enter the week of September 16th, 2013 everything appears to be hinging on the FOMC announcement Wednesday at 2pm EST. Chairman Bernanke will hold a press conference at 2:30pm EST which will be heavily parsed, to say the least. For a Fed which has had a major communication problem in recent months, the… Continue Reading

If history repeats itself (which it has a habit of doing), then yes the bank is preparing to load up on gold.  This morning, Jeffrey Currie, the global head of commodities research for the bank said: “While we agree with the mid-cycle price somewhere around $1,200, we believe that at least near term it can overshoot… Continue Reading

A spectacular account of the ‘100-year financial crisis’ as told by the 74th United States Secretary of the Treasury, Henry Paulson.  The interview was done for the new Bloomberg documentary which will be on Netflix on Monday called ‘Hank: Five Years from the Brink’. Hank on the Unpopularity of TARP: “The way I read the… Continue Reading

Oceanic Iron Ore (FEO:TSXV), the small cap iron ore developer, has received the results of a shipping optimization study to determine whether the benefit justifies the costs of year round shipping from the Company’s Hopes Advance project located in the Canadian Arctic. The study includes direct shipping during summer months and transshipment during winter months.… Continue Reading

Sulliden Gold (SUE:TSX) has cleared the final hurdle at its Shahuindo gold and silver project in northern Peru by receiving an ‘okay’ for their Environmental Impact Assessment.  With this milestone complete, after an 18 month permitting process, the company expects to begin construction within 30-60 days (once final project finance package completed).  The construction will… Continue Reading

In April of this year, Mexico’s Economics Committee in the Chamber of Deputies approved a proposed new 5% mining royalty tax.  Over the weekend, the Executive Branch of the Mexican federal government presented its 2014 Tax Reform proposal which included new mining specific federal royalties.  These included a Special Mining Royalty which is a 7.5%… Continue Reading

Cameco Corp (CCO:TSX) provided an update on its Cigar Lake project located in northern Saskatchewan.  Cigar Lake is owned by Cameco (50% operator), AREVA (37.1%), Idemitsu Canada Resources (7.875%) and TEPCO Resources (5%).  Construction of the mine is currently at 97% however, while commissioning underground facilities, Cameco found more work that will delay jet boring… Continue Reading

The Fed is losing control of interest rates as the “belly” of the Treasury yield curve blew out this week, bringing the yield on the 10-year note briefly above 3%: Click to enlarge The Federal Reserve balance sheet now stands at $3.611 trillion, some $800 billion more than it was the last time long rates… Continue Reading

Micro-cap African explorer, Legend Gold (LGN:TSXV) has closed the acquisition of several exploration assets in Mali from Endeavour Mining (EDV:TSX) and has also acquired a private Canadian exploration company called Corado Resources which has assets in the Congo.  Legend recently rolled back their shares 6:1, giving them a total share count of 13.4 million and… Continue Reading