Update 9:23AM PST: Nevsun is not aware of a bid for the Company Rumors are circulating this morning that the latest takeover in the mining space will be Nevsun Resources (NSU.T). Bloomberg is reporting that QKR Corp, a mining fund backed by Qatari investors, is set to make a $1 billion bid for Nevsun. QKR Corp… Continue Reading
When a businessman of the calibre of Brett Wilson grants CEO.ca an interview, we aren’t going to waste his time with softball questions. I think the ex-Dragon’s Den star, Nashville Predators co-owner and co-founder of FirstEnergy Capital, was a bit surprised with our directness. But as one of Canada’s most approachable titans, he generously obliged… Continue Reading
Visible Gold Mines (VGD.V) with its 167 Extension project in Northern Quebec is an interesting exploration play. The team on the project has been finding high grade mineralized boulders using the same method Virginia Mines used to discover Éléonore deposit, now in development nearby by Goldcorp. The 162 Extension project is composed of 955 mining claims… Continue Reading
From Wikipedia on the so called January effect: “The most common theory explaining this phenomenon is that individual investors, who are income tax-sensitive and who disproportionately hold small stocks, sell stocks for tax reasons at year end (such as to claim a capital loss) and reinvest after the first of the year.” In the modern… Continue Reading
A few weeks ago I alerted readers to Derek Jeter’s new website, theplayerstribune.com. The now retired baseball superstar created the site to enable professional athletes to have a vehicle to communicate directly with fans without a biased media filter. Since then contributors have included Danica Patrick, Kevin Love, and Brendan Shanahan, and their posts have… Continue Reading
After the Toronto Stock Exchange rang the closing bell today, Ivanhoe Mines (IVN.TSX) announced they were resuming development work on Platreef, their 75.7 million ounce (Indicated + Inferred) platinum-gold-nickel-copper project in South Africa. The company says it has sent out formal notifications to provincial authorities and landowners to return to work. They have begun moving the required plant and… Continue Reading
Gold Standard Ventures (GSV.V) has been busy consolidating and exploring land positions in the Carlin Trend in Nevada since becoming public in July 2010. The Carlin Trend is one of the most prolific places in the world for gold production and home to the large mines of Newmont and Barrick. The team at Gold Standard… Continue Reading
From Reuters: “Copper prices dipped on Tuesday, as disappointing property sector data from China raised concerns about the outlook for demand from the world’s top metals consumer.” Copper has been oscillating near the $3 mark for well over a month now and speculators (both large & small) have continued to pile on bearish bets: This… Continue Reading
With $36.4 billion in assets, Harvard University’s endowment fund is the largest in the world and has returned an average of over 12% annually over the past two decades. In a recent regulatory filing, the Massachusetts-based fund picked up new positions in a dozen Texas-based oil and gas companies in the third quarter amid steeply… Continue Reading
After market today, Continental Gold (CNL.TSX) delivered their first economic study ever completed on the ultra high-grade Buritica gold project in Colombia. Their maiden Preliminary Economic Assessment (PEA) delivered industry leading economics with an after-tax NPV (5%) of $1.08 billion and an IRR of 31.5% on initial capital of $390.3 million (based on $1,200/oz Au… Continue Reading
Today was an important day for the gold miners for a number of reasons: GDX broke above the downtrend which began in early September All the large one day rallies in the past few months have been immediately met with selling the following day, today’s action represents a change of character The miners were up… Continue Reading
Three years ago 48-year-old stockbroker John Nelson had had enough. It was 2:30 pm on a Friday, and his back, long a source of pain during his workdays and weekly rounds of golf was killing him. Researching an array of latex mattress brands helped John realize some of the pain could be alleviated by switching… Continue Reading
Osisko Gold Royalties (OR.T) and Virginia Mines (VGQ.T) have joined forces to create a leading intermediate gold royalty company. The combined market capitalization of ~$1.3 billion will rank the merged company fourth when it comes to precious metals royalty companies behind Franco Nevada, Silver Wheaton and Royal Gold. The newly merged company will hold royalties… Continue Reading
During the past 18 months we have seen a massive shift in holders of gold. The following 3 charts tell the story quite well: Click to enlarge Retail investors and portfolio managers have dumped more than 1,000 tonnes of gold from gold exchange traded funds during the last two years. Meanwhile central banks have purchased… Continue Reading
Last weekend we pointed out the importance of the week ahead for gold. After a tumultuous start to the week gold found its footing in a big way on Friday and closed the week in impressive fashion: Click to enlarge After posting a series of higher lows gold surged above previous support at $1180 on… Continue Reading
