Gold-backed ETFs dropped in May — report

In a recent report, the World Gold Council revealed that holdings in global gold-backed exchange-traded funds (ETFs) fell in May by 2.2 tonnes to 2,421 tonnes, equivalent to $141 million in outflows, as consistent European fund growth was offset by...

/ June 9, 2019

US tariffs will send Mexico gold, silver abroad for processing

Donald Trump’s tariffs targeting Mexico risks backfiring on the U.S., at least in the global metals market. Miners of Mexican precious metals are unlikely to be hit significantly if Trump imposes levies on goods from its neighbor, which is the...

/ June 8, 2019

This 50-year chart shows just how undervalued commodities are

US stock markets just enjoyed their best week of the year on speculation that the Federal Reserve would once again ride to the rescue of equities and inflate asset prices by cutting rates. The S&P 500 index is sporting double...

/ June 8, 2019

Outback town that rivaled Manhattan’s prices now gathers dust

Of all the mining-town booms spawned by China’s insatiable appetite for minerals, few were as epic as that of Australia’s Port Hedland. In one of the most remote corners of the Earth, its real estate was more expensive than in...

/ June 8, 2019

Goldspot partners with Pacton on AI exploration at Red Lake

Goldspot Discoveries (TSXV: SPOT) announced Friday a signed service agreement with Pacton Gold (CVE: PAC) to use Goldspot’s A.I. and machine learning tools to evaluate and identify possible mineral and drill targets on Pacton’s Red Lake, Ontario property.  “We believe Red Lake’s ground is ripe for a technological revolution” — Goldspot CEO...

/ June 8, 2019

Bluerock Diamonds’ shares jump on record find

BlueRock Diamonds (LON: BRD) shares were up 15% on the London Stock Exchange Friday after the miner announced it had recovered its largest diamond to date, a 24.9 carat gem quality stone.   BlueRock owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa.  The...

/ June 8, 2019

Gold Surges Near Breakout

Gold surged sharply over this past week or so, nearing a major bull-market breakout!  Nearly everyone was surprised by this violent awakening, which erupted suddenly as gold languished around year-to-date lows.  If this dramatic rally has staying power, gold has...

/ June 8, 2019

Five BHP tailings dams could pose "extreme risk" to communities in event of collapse

The world’s biggest miner, BHP (NYSE: BHP), published risk assessment results on Friday that revealed five of its tailings dams that would be at “extreme risk” of damage to local environments and harm to nearby residents if they failed, the Financial Times reported.  ...

/ June 8, 2019

Gold: India flips to discount, premiums skid elsewhere as prices surge

MUMBAI/BENGALURU – Gold prices in India flipped into discounts this week as a rally in local prices dampened demand, while premiums in other major Asian hubs declined as a price surge prompted investors to sell back bullion. Global benchmark spot...

/ June 8, 2019

Major miners reveal tailings dam data, action plans following disasters

Global miners BHP Group, Anglo American Plc and Glencore Plc revealed details on tailings dams, months after ethical investors sought the information following a second deadly dam disaster in Brazil. BHP, which operates 67 tailings facilities, said on Friday it...

/ June 8, 2019

Toro Gold hires bank to explore sale as IPO plans shelved -sources

West Africa-focused junior gold miner Toro Gold has hired boutique investment bank Raymond James to explore putting itself up for sale after shelving plans to list its shares in London, two sources with knowledge of the matter said. But attracting...

/ June 7, 2019

Noront and Aroland First Nation to work together on nickel mine in Ontario

Noront Resources (TSX-V: NOT) signed a memorandum of understanding with the Aroland First Nation to advance the planning process for the development of the Eagle’s Nest nickel-copper-platinum-palladium deposit in the Ring of Fire, northern Ontario. In a media statement, both...

/ June 7, 2019