A very rare trading session today for the gold sector: Click to enlarge It might not be a coincidence that today’s 3.14% rally in gold stocks coincided with the last day for tax loss selling in Canada – if history is any indication the gold miners could be in for a long overdue Santa relief rally… Continue Reading

The results from our gold poll are in and they are somewhat surprising: A vast plurality believed that gold would remain rangebound through the end of the year. Meanwhile, barely 1 in 4 poll respondents believed that there would be a bullish end to 2013 for gold. Given that the majority of CEO.CA readers are… Continue Reading

Dr. John-Mark Staude’s, prospect generator, Riverside Resources (RRI:TSXV) has announced they found a partner in Pembrook Mining (private) to option their Coatan gold project in Mexico.  Pembrook will have to pay Riverside $27,460 in cash and incur $1.8 million in expenditures on the project over the next four years to earn an initial 70% interest.  Then, to… Continue Reading

Tekoa from Bull Market Thinking interviews Sprott Asset Management founder Eric Sprott, who became a billionaire in the gold bull market, but has lost his step as the bullish outcome for precious metals and resources equities Sprott predicted has yet to materialize. Still, the interviewer asked a couple of great questions of the pioneer Sprott:… Continue Reading

The high-grade veins at Continental Gold’s (CNL:TSX) Buritica project in Colombia continue to grow as drilling expands the areas of known mineralization.  This morning, Ari Sussman (CEO) announced the latest batch of 17 drill holes from his project.  Four of the holes were successful in intersected veins sets that were 200m west of the current… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly Also: Sysorex Global, Inovio Pharma Solvista Gold corners Iamgold into a porphyry partnership at Caramanta in Colombia. Takeways: Breathing room for Solista’s Miller O’ Prey and Jeffrey Miller. Bob Allen’s Grupo de Bullet owns a hunk of Solvista (SVV in Canada). Solvista is one of our TCR 8 It… Continue Reading

Mark O’Dea’s West African gold development play, True Gold Mining (TGM:TSX) released a robust feasibility study for the Karma gold development project in Burkina Faso.  At $1,250 per ounce gold, the project provides an after-tax NPV(5%) of $180 million and a 43.1% IRR (TGM’s netted amount).  This provides for a payback of the initial $131.5… Continue Reading

Sound familiar?  That’s because Asanko Gold (AKG:TSX) and PMI Gold (PMV:TSX) attempted a merger in late 2012 that was mutually terminated in early 2013 after it became apparent they wouldn’t get the supermajority votes necessary to complete the transaction.  Now, after the largest price decline in gold in over a decade and the substantial derisking that… Continue Reading

The options market is currently pricing in a $39 absolute move in gold between now and the close of trading on December 31st. Given that gold has a tendency to make outsized moves during the final days of the year, this seems a bit cheap to us. After all, 3% isn’t much for a market… Continue Reading

Joseph Conway’s Primero Mining (P:TSX) announced this morning it has entered into a agreement to acquire Brigus Gold (BRD:TSX) in an all-share transaction.  Primero will use their stock, which has held its own this year, in an exchange ration of 0.175:1.  This values Brigus at approximately $220 million.  This bid represents a 43% premium to… Continue Reading

…..and going long gold mining shares (GDX).  This is what a bottom looks like, not necessarily today or tomorrow, but definitely within 1-2 months: GDX/GLD Daily (5 years) The volume expansion in the GDX during 2013 has been monumental; volume expansion amid waning selling pressure are two of the key characteristics of every major market… Continue Reading

As most other banks try to offload their commodity trading desks amid weak commodity prices, Wells Fargo is attempting to build a desk in London, according to reports. Janet Mirasol was hired last month from R.J. O’Brien to lead their OTC and listed derivatives team in New York.  Wells will look to add commodities traders… Continue Reading

Running out of financial flexibility, Bruce McLeod’s Mercator Minerals (ML:TSX) has agreed to a merger/takeover by Intergeo which is a subsidiary of ONEXIM Group(controlled by Russian oligarch, Mikhail Prokhorov worth an estimated $13 billion).  The deal will see Mercator’s assets get a much needed injection of capital.  Intergeo’s controlling shareholder Daselina (part of ONEXIM) will provide a… Continue Reading

IAMGOLD Corp. (IAG) suspended its dividend after the close today. This decision was many months in the making – anyone who looked through the company’s latest investor presentation would have quickly deduced that with gold waffling near $1250/ounce, IAG would be hard pressed to be able to continue paying a dividend due to its relatively… Continue Reading

Slowly but surely, consolidation of gold miners in West Africa is picking up again. While we are far from the days when chunks of land in Mauritania sold for more than US$7-billion, there have been two interesting deals announced in the past six weeks: B2Gold Corp.’s US$63-million offer for Volta Resources Inc., and Centamin PLC’s $39.3-million… Continue Reading