The Central Fund of Canada (NYSE:CEF, TSX:CEF.A) is a $3 billion closed-end fund whose sole mandate is to invest in gold & silver bullion. As of yesterday’s market close the Central Fund had 61.1% of its assets in gold bullion and 38.4% of its assets in silver bullion: Click to enlarge CEF trades like a regular… Continue Reading
Detour Gold (DGC.TSX) reported a small loss of $800,000 after the bell today. Gold production for the quarter was 115,334 ounces meeting management expectations. Cash costs came in at $941 per ounce sold which is within the company’s guidance of between $900 and $975 for the year. The asset is one of the best in the gold space… Continue Reading
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
Mark Dow of the Behavioral Macro blog is out with a thoughtful post titled “Precious Metals. The Second Wave of the Bubble Unwind is Upon Us”. Dow has been bearish on gold for the past couple of years, and he makes several astute points in his post. Here is a key excerpt: “When I’m asked how… Continue Reading
Family owned and Chilean based copper company Antofagasta Pls. has initiated a takeover bid for joint venture partner Duluth Metals (DM.T) for 45 cents cash per share. The offer represents a 284% premium over the 20 day volume weighted average price (VWAP). Duluth was the majority owner of the massive Twin Metals project in Minnesota. The deal looks set… 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
Dilution is the single greatest enemy to junior mining investors. Pre-revenue stage juniors are always coming back to the market for more cash while they explore for and develop new mines, and if the share price hasn’t gone up, these financings can be dramatically dilutive to current shareholders’ positions. A little over 18 months ago a well… Continue Reading
Natural resources are an extremely risky and volatile segment of the markets. To increase your odds in this dangerous but sometimes spectacularly profitable space, you will want to rely on some expert help. Start with Lawrence Roulston, geologist and private equity investor, who has found 6 such 50 baggers in his 18 years of editing… Continue Reading
Are you a web developer who wants a competitive wage and the opportunity to solve real business problems? How about a chance to show your skills to an influential audience? Maybe even get access to equity in high growth businesses? CEO.ca is a conference for global investors founded in 2012. Investors love our content and… 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
Mining Equities / Precious Metals Fall Further As Fed Cuts Stimulus Program Contrasting economic policies in the U.S and Japan during the week coincided with the continued decline in mining equities and metal prices over the same period. The Federal Reserve in the U.S. announced a end to its stimulus program on Wednesday, while on… Continue Reading
It is not a coincidence that gold has seen a low of $1161 thus far in today’s large sell-off: Click to enlarge There is a great deal of Fibonacci confluence in the $1154-$1160 area (the 50% retracement of the entire 2003-2011 bull run and the 61.8% retracement of the 2008 low to the 2011 peak).… Continue Reading
The second largest IPO in the Canadian energy space this year was completed this week by Seven Generations Energy (TSX: VII). This IPO proves investors still have a strong appetite for energy stocks, even with energy prices sliding recently. $51.75 million shares were issued at $18 per share, raising a total of $932 million for… Continue Reading
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
There’s a new venture deal that just went public in Canada that we expect to receive significant attention. It’s being coined a “smart luxury” fashion play and is called Mezzi Holdings Inc. The promoter/CEO is Keir Reynolds, no stranger to CEO.ca readers. We share our experience with Keir in the following article, as he tells… Continue Reading
