Barrick Gold (ABX), the lowest cost senior gold producer, is currently trading at levels which are simply too cheap to pass up. From an investment risk-to-reward standpoint Barrick has rarely been so attractive – Barrick’s enterprise value is back to 2009 levels when the gold price was more than $300 lower: Click to enlarge ABX… Continue Reading
It looks like the rumours have proved to be correct as China’s Minmetals announces a first round bid for Glencore-Xstrata’s (GLEN:LN) Peruvian Las Bamabas copper mine. Prior to the mega-merger being finalized between Glencore and Xstrata last year, the Chinese antitrust authorities demanded the sale of Glencore’s $5.2 billion Las Bambas mine in order to reduce the power… Continue Reading
We’ve discussed the negative correlation between precious metals and the stock market. It has now been in place for over two years. Since September 2, 2011, the HUI Gold Bugs Index is down 64% while the S&P 500 has gained 43%. Silver has lost 48% while Gold has shed 28%. It’s not exactly groundbreaking analysis… Continue Reading
THE CALANDRA REPORT: Subscribe Concordia Resource Corp. – one of Canada’s most puzzling metals equities – is gaining a DRC Congo nickel, copper and cobalt property and another, copper and gold, in Australia. Concordia (CCN in Canada) explains that pending shareholder approval it also shall distribute shares of a new Argentina-focused explorer to shareholders. That’s… Continue Reading
After reviewing most of the corporate presentations from last week’s Denver Gold Forum, some repetitive themes arose: 1.) Focus on returns: Almost unanimously, the producers claim to be focusing on high-quality operations only and have already, or will look to, dramatically reduce capital spending as well as divest assets that do not meet the margin… Continue Reading
Ari Sussman’s Continental Gold (CNL:TSX) released assay results from 28 drill holes and underground sampling from the Yaragua and San Agustin vein systems at the company’s ‘best-in-class’ Buritica gold project in Colombia (news release). Overall, the results continue to show exceptional grades and growing widths. All of the 27 underground holes at Yaragua were successful at… Continue Reading
Bob Quartermain’s Pretium Resources (PVG:TSX) has begun processing the 10,000-tonne bulk sample from the Valley of the Kings material at the company’s Brucejack project (news release). The material has been sent to a custom mill in Montana where it will be processed at a rate of 220tpd which will produce gold-silver gravity and flotation concentrates… Continue Reading
The Lac des Iles graphite mine in Quebec is the larger of two Canadian graphite producers, and owned by Imerys S.A., a multi-billion dollar French multinational company which specialises in the production and processing of industrial minerals. Imerys has been around for nearly 140 years. The Lac des Iles graphite mine, which is ran by… Continue Reading
“History does not repeat itself but it does rhyme.” Mark Twain (or somebody else) For resource speculators, “deals” abound as a result of the great junior mining shakedown of 2008-2013. And therein lies the danger: deals abound but value is elusive. Most junior mining stocks are priced for the end of the world and for… Continue Reading
Yesterday’s $50 puke in gold futures to kick off the month of October may have laid the final foundation for a massive multi-month bottom in gold. The $1276 level in December gold futures is not only important support from the summer, but it also happens to be a key Fibonacci retracement level: Click to enlarge… Continue Reading
International Minerals (IMZ:TSX) has agreed to be bought by Peruvian miner, Hochschild Mining (HOC:LN) for CAD$2.46 per share. On top of the cash component, International Minerals shareholders will also receive one common share of Spinco which will hold IMZ’s current portfolio of Nevada assets including the Goldfield and Converse properties. Spinco will also keep the… Continue Reading
Mason Graphite (LLG:TSXV) has updated the market with regards to progress at their Lac Gueret graphite project in northeastern Quebec in a news release out this morning. Lac Gueret has had extensive development work done to date including a PEA earlier this year which envisioned a low capital intensity, high-grade, long-life asset. The company also completed initial… Continue Reading
Brian Edgar and Tim Barry’s Silver Bull Resources (SVB:TSX) released a Preliminary Economic Assessment (PEA) for its Sierra Mojada silver-zinc project in Coahuila, Mexico. Sierra Mojada is one of the largest undeveloped silver projects in Mexico, with an indicated resource of over 160 million ounces of silver at an average grade of 70 grams per tonne using a… Continue Reading
Midas Gold (MAX:TSX) released assays from recent drilling at their Hanger Flats deposit at the Golden Meadows project in Idaho. The company is completing resource definition drilling at Golden Meadows in order to complete an updated economic study. The highlight of the release today was hole MGI-13-361 which intersected an impressive 100.6m of 3.09g/t gold… Continue Reading
Lundin Group company, NGEx Resources (NGQ:TSX), released an updated resource estimate for their Josemaria copper-gold project located in San Juan province, Argentina. According to the company, the Lundin Family Trust controls 19.9% of NGQ’s shares. NGEx is the 60% operator of the project with JOGMEC (Japan Oil, Gas and Metals National Corporation) holding the other… Continue Reading
