Via Energy and Gold.com: In the last two weeks gold futures speculators have liquidated a total of 66,897 gold futures contracts which equates to a notional amount of nearly $8 billion: To put this recent gold liquidation into perspective it is the largest 2-week liquidation in gold futures since the April 2013 gold crash: The… Continue Reading
Gold Rises After Fed Tempers Interest Rate Forecast Playing down expectations of an interest rate rise in the short-term, the Federal Reserve’s speech was reflective of a negative week in economic data in the U.S., translating to a depreciating dollar and rebound in precious metals prices. Major economic indicators including housing starts, industrial production and… Continue Reading
By Henry Bonner (hbonner@sprottglobal.com) Read online > 2015 is well underway and starting to look at lot like 2014. Commodity markets remain weak with uranium, copper, gold and oil prices still near their lows.1 Rick Rule, Chairman of Sprott US Holdings, sat down with me recently to discuss the resource and precious metals markets. Rick,… Continue Reading
The mining exploration business is very risky, with about 3 out of a 1000 good looking prospects becoming mines. That’s why some smart small exploration companies follow the “prospect generator” business model of generating ideas and finding more established partners to pay for the drilling. This shares the upside, but more importantly, gives the prospect generator… Continue Reading
Last month, we met Canadian Mining Hall of Famer Bob Dickinson and Amarc Resources President and CEO Diane Nicolson in Vancouver to learn about Amarc’s emerging IKE copper porphyry district discovery in BC. The veteran mine builder Dickinson had recently lent $1 million to Amarc and was very enthusiastic for its prospects of finding Canada’s… Continue Reading
Here are my top news releases for this morning. Mart Resources (MMT:TSX) -Mart is out with positive news this morning that the government of Nigeria has approved the completion of the OML 18 transaction. Mart is a member of a consortium of companies that will acquire 45% of the OML lease with the Nigerian National Petroleum Corp owning… Continue Reading
Via Energy and Gold.com: The small cap Russell 2000 Index has exhibited relative strength for several weeks and seemingly makes another all-time high with each new day. Even as the S&P and Dow suffered some notable down days the Russell managed to remain well bid and has spent the last four days of this week making fresh… Continue Reading
Legendary investor, Warren Buffett says “if a business does well, the stock eventually follows.” It is on this theme that mining executive Peter Breese has built his career. This career which has encompassed over three decades includes the $6.8 billion and $1 billion sales of LionOre Mining and Mantra Resources, respectively. The Zimbabwe native got… Continue Reading
One of the only publicly traded Canadian companies giving investors exposure to Bitcoin has had some acquisition news out this morning. Newnote Financial (NEU:CSE) has acquired the Canadian based Bitcoin exchange Cointrader.net, as well as the CoinZero point-of-sale system, and ABMs in London and Tokyo for $1.5-million in cash and stock. This latest bitcoin news… Continue Reading
Silver Wheaton (SLW:TSX) the world’s largest precious metals streaming company with a market cap of ~$10 billion is out with Q4 and annual results yesterday evening. I am a big fan of the streaming business and believe it should be a part of every resource investors portfolio. I just got off the live conference call this morning… Continue Reading
Via Energy and Gold.com: Eurozone equity allocations have not been this high since 2006 which happened to coincide with a major peak in relative performance of EU equities vs. the world: Meanwhile, the German DAX Composite Index hasn’t been this far above its 50-day simple moving average ever! Not even the 2000 dot-com bubble… Continue Reading
Gold prices ended the day up 2.14% to $1172 after the Fed statement was released and a press conference was held with Fed chair Janet Yellen. The bottom line for investors is that the Fed is close to raising interest rates but remains cautious with no specific date yet and lower forecasts for year end.… Continue Reading
Via Energy and Gold.com: I have not kept it a secret that I have been looking for a marginal new low in WTI crude to wash out weak handed longs followed by a violent upside reversal. Today this scenario happened in a most unexpected way following another huge crude inventory build report from the EIA. Crude… Continue Reading
I’ve given up right before the finish line. It’s not as bad as people say really. It even has a nice ring to it. French. “I’m a self-saboteur”. Maybe I’m a spy. Like, right when you are about to make a lot of money, or finish a book, or get a job, or whatever, you… Continue Reading
A look at some of the headlines this morning that caught my eye and some more details on each. Dynacor Gold Mines (DNG:TSX) – Dynacor Gold has received the final construction permit for a new gold processing plant in Peru. The new plant will have processing capacity of 300 tpd but will be designed so it… Continue Reading
