After pre-marketing their latest venture, Denham Capital, which is one of the largest resource-focused private equity firms, announced the formation of Auctus Minerals, to focus on acquiring underperforming operations across Australia and applying operating efficiencies to them in order to turn a profit. The venture is being funded with US $130 million (initially) from Denham and will… Continue Reading
The Sunday Times of London reported overnight that Mick Davis’ X2 Resources has made a bid for some of Anglo American’s Chilean copper mines, their Brazilian nickel assets, and some of their coal operations. If successful, this would represent Davis’ first acquisition since he left as head of Xstrata after the merger with Glencore in 2013, and could… Continue Reading
Some thought provoking material we are reading this weekend…. TraderFeed – Does Greater Wealth Make Us Happier? BarentsObserver – Russia plays nuclear war-games in Barents Region All Star Charts – Thinking Out Loud Heading Into November Barron’s – Commodities: Buy When the World is Selling MarketWatch – Petrobras auditor demands deeper corruption probe
For those that haven’t had access to the internet or TV today, the West African country of Burkina Faso’s government has collapsed and is essentially in complete disarray. After a day of violent protests, the military seized power and effectively dissolved the country’s parliament. This is a surprise, coming out of one of the more… Continue Reading
Amid the doom and gloom of the resource markets, two small cap focused boutique investment firms have decided to combine their shops in an attempt to gain size and weather the storm. This morning, Toronto-based Mackie Research announced it would be acquiring the oil and gas boutique, Jennings Capital. Jennings was founded in Calgary by Rob… Continue Reading
“We are contrarian, value-oriented investors in private equity, credit and real estate,” is what Apollo Global says on its website. The firm which was founded by Leon Black in 1990 out of the ashes of investment bank Drexel Burnham Lambert is a pioneer in the private equity space. Today it manages over $150 billion globally… Continue Reading
Since Ghomeshi-gate broke last Friday, the media have been pumping out a myriad of takes on the scandalous story. Initially, many in the world of celebrity and politics (Elizabeth May – my Gawd what a shit-show that was) sided with Ghomeshi, or at least made the statement that his sexual proclivities should not impact his… Continue Reading
John Alfred Paulson is an American hedge fund manager and billionaire who heads Paulson & Co, a New York-based firm he founded 20 years ago. He manages nearly $25 billion in assets for global clients. In 2007 Paulson made his name and a large part of his personal fortune (now estimated at $13.5 billion) betting big… Continue Reading
Jian Ghomeshi, now infamous host of CBC’s popular radio show ‘Q’, is getting more attention than he likely ever dreamed of back when he did the weekly entertainment report on Canada Now. In case you haven’t heard, Ghomeshi was fired by the CBC last Friday, and the story that is unfolding is a real doozy.… Continue Reading
Haywood Commodity Price Revisions: Moderating for a New Paradigm This week, Haywood released a revised commodity price forecast. Changes to several commodity price decks are echoed in the negative performance of mining equities and commodity prices during the last quarter. Changes include the long-term gold price, which was lowered from $1,300 to $1,250 per ounce, silver… Continue Reading
The Lundins focus on Chile is continuing today, this time with more news from portfolio company, NGEx Resources (NGQ:TSX). “Chile’s biggest new copper-gold camp” is posted all over NGEx’s website and the company believes that they not only have large deposits (3 of them to be exact), but that they are sitting on an entire… Continue Reading
The Lundin name has been synonymous with large deals in the mining space (Lundin Mining and Fortress Minerals) as well as big new oil discoveries in Norway (Lundin Petroleum) over the past few weeks, however, today that trend was bucked with their African oil explorer (aptly named Africa Oil (AOI:TSX)) trading to new 52-week lows… Continue Reading
Nelson Bunker Hunt passed away this morning at the age of 88 after a battle with Alzheimers disease. Nelson and his brother W. Hebert Hunt are famous for trying to corner the silver market back in 1980. The Hunt brothers managed to drive the price of silver to a record high of $49.45 per ounce… Continue Reading
A relatively unknown European-focused gold developer called Euromax Resources (EOX:TSXV) has a market cap of just $26 million, but yesterday it secured a $175 million streaming deal with the world’s largest gold streamer, Royal Gold. That’s nearly 8x its current market cap. Euromax’s management is made up of most of the former European Goldfields executives who sold that… Continue Reading
With the marginal cost of gold production currently pegged right around $1250/ounce (Morgan Stanley Research) it is not surprising that this level has been quite ‘sticky’ lately, first serving as support and now as resistance: Click to enlarge After the $70 rally we witnessed in the last three weeks a consolidation between $1230 and $1250 is to… Continue Reading
