No Respite: Metal/Oil Prices Tumble Further This week’s market headlines were dominated by the dramatic fall in oil prices after the OPEC refrained from lowering production limits of crude oil. Already under pressure, WTI crude fell to US$66 (down 14%) per barrel after Friday market close. Precious and base metal prices followed a similar… Continue Reading
Here's today's insane move in oil. pic.twitter.com/U2UCxyuae5 — Joseph Weisenthal (@TheStalwart) November 28, 2014 As an especially concentrated natural resources investor, the recent 30+% drop in oil prices has caused a huge hit in my paper wealth. Fortunately, if I manage my expenses I can survive a nuclear winter in oil. Still, it’s been an… Continue Reading
1. The yield curve has significantly flattened during 2014 with the spread between 2-year Treasury Notes and 10-year Notes falling from 264 basis points in January to 169 basis points today: Falling yields at the long end (10-year and 30-year) and rising yields at the short end (2-year and 5-year notes) are undeniable signs of… Continue Reading
Today North America kicks off the Christmas season with the annual Black Friday sale. Many stores are offering discounts of up to 70%; no wonder this is the biggest shopping day of the year. The stock market is also having a “sale” with many resource names discounted 30-70% over the past couple months. You can… Continue Reading
Desert Star Resources (DSR.V) and Providence Resources (PV.V) have announced that they have agreed to merge. The amalgamated company will focus on copper and gold projects in the south western United States. The newly merged company with have ~$2.3* million in cash with the majority coming from Providence, who reported $1.56 million cash on the balance sheet… Continue Reading
In a recent Ernst & Young study measuring business risks faced by mining companies, capital dilemmas, social license to operate, resource nationalism, and infrastructure access all ranked in the top ten. Integra Gold (ICG:TSXV), a junior Canadian gold developer, recently completed an innovative and transformative acquisition that has removed all of the above risks from… Continue Reading
Lydian International (LYD.T) has received an important mining right approval for the Amulsar gold project, located in Southern Armenia. The permit allows the company to develop the project in line with the parameters from the feasibility study. The government of Armenia is very supportive of the project as it will provide jobs and growth for the… Continue Reading
1. The crude oil chart is not encouraging at all; bounces have been shallow and the decline since the summer has been orderly: 2. US crude oil production (mostly from shale oil) continues to explode higher while crude oil imports are in a clear downtrend: 3. OPEC left production quotas unchanged this morning in… Continue Reading
Quebec is one of the most prolific gold mining jurisdictions in the world. It is home to Canada’s largest gold mine, the Canadian Malarctic mine. It is also home to a plethora of promising junior explorers and developers all of which hope to find the next gold mine. One of these companies has been quietly growing an impressive deposit in… Continue Reading
Balmoral Resources (BAR.T) is out with some more impressive assay results from the the Grasset Ni-Cu-PGE discovery in Quebec. The highest grade hole to date was intercepted with hole GR-14-57 returning 57.88 metres of 1.85% nickel, 0.21% copper,0.40 g/t platinum, and .97 g.t palladium. Balmoral holds a large land position in the area and believes the… Continue Reading
After a very rough couple of months for the miners, November has treated the sector quite well with a 24% rally from the early November low: Despite the fact that GDX has rallied 24% in the past 3 weeks the easy part is over. A snapback rally from a capitulation sell-off is par for the… Continue Reading
When Apple CEO Tim Cook sits around the Thanksgiving dinner table on Thursday and some lame relative asks what he’s thankful for this year, he won’t have to dig too deep to come up with an answer. Already the world’s largest company by market capitalization, Apple stock traded as high as $119.75 today, giving the… Continue Reading
Nolan Watson, CPA, CFA, is one of the most astute CEOs in mining under 40. In 2005, he became the first employee of Silver Wheaton after it was spun out of Ian Telfer’s Goldcorp. Watson was appointed CFO shortly thereafter and the company quickly became the world’s largest silver producer. Watson left Silver Wheaton in 2008 to co-found Sandstorm Gold (TSE:SSL),… Continue Reading
African Gold Group (AGG.V) released an updated PEA on the Kobada gold project in Mali, West Africa this morning. The project is a small mine that will produce 44,000 ounces per year for a mine life of 15 years. The economics are robust with a 62% IRR (before tax) using a gold price of $1250 per… Continue Reading
Since hearing of the passing of the mighty Pat Quinn yesterday media tributes have poured in from all over the continent. In Vancouver especially there are heavy hearts, as most of us here considered the ex Coach and Manager of the Canucks one of our own. Vancouver writer Gary Mason penned a tribute to Pat… Continue Reading
