News & Features

P.M. Kitco Roundup: Gold Lower, Hits 4-Wk Low, on Long Liquidation, Tech. Selling Ahead Of FOMC Result

By Jim Wyckoff

Comex gold futures prices ended the U.S. day session with solid losses Tuesday, pressured by technical selling, including pre-placed sell stop orders being triggered. Weak-handed long liquidation was also featured ahead of results from a very important U.S. central bank meeting. Comex August gold last traded down $16.70 at $1,366.40 an ounce. Spot gold was last quoted down $17.60 at $1,367.50. July Comex silver last traded down $0.113 at $21.645 an ounce. Read more

Silver is important weapon against ‘superbugs’—Silver Institute

By Dorothy Kosich

Recent advances in biotechnology have brought a renewed focus on silver’s centuries old history as an important medical weapon.

In a news release issued Wednesday, the Silver Institute observed that the medical use of silver has helped reduce the Read more

Orbite strikes deal to sell alumina to Glencore Republish

By Peter Koven

Emerging alumina company Orbite Aluminae Inc. has secured a top-notch customer for its product. Now it hopes that same customer will provide much-needed capital for its proposed processing plant in Quebec.

Montreal-based Orbite announced on Tuesday that commodity giant Glencore Xstrata PLC agreed to buy 100% of its alumina production from the Quebec plant for an initial period of 10 years. Read more

TSX Mine Financing Alerts: Who’s Got the Money?

The following companies have filed press releases pertaining to a financing on the TSX and Venture exchanges for mining and exploration activities.

Brokers, analysts and investors can use this information to help evaluate whether a company has the funds to continue the business of making mines to feed the mills that create the metals for myriad uses in today’s growing world.

NEW: RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR. Go to www.shareknow.net now to begin evaluating prospective investments!

 

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
June 18, 2013	Sego Resources Inc	SGZ	$130,000.	Closed
June 18, 2013	Teras Resources Inc	TRA	$760,000.	Closed
June 18, 2013	Kaminak Gold Corp	KAM	$4,987,500.	Amendment
June 18, 2013	Tawsho Mining Inc	TAW	$300,000.	Proposed
June 18, 2013	Fort St James Nickel Corp	FTJ	$100,000.	Proposed
June 18, 2013	Typhoon Exploration Inc	TYP	$500,000.	Closed

UPDATE: Gold Extends Early Losses to Trade Solidly Lower, at 4-Week Low; Stops Hit

By Jim Wyckoff

Comex gold futures prices have added to early losses to trade solidly lower in late-morning dealings Tuesday. Prices dropped to a fresh four-week low as pre-placed sell stop orders were triggered on the way south, to exacerbate the selling pressure. Weak-handed long liquidation ahead of the FOMC meeting results Wednesday and technically Read more

Sibanthracite Plans to List 25% Stake in Coal Miner’s London IPO

By Yuliya Fedorinova

Sibanthracite Plc, a producer of coal in southwestern Siberia, plans to list a stake as large as 25 percent in London in what would be the first Russian initial public offering in the U.K. this year.

The selling shareholder is the GLG Emerging Markets Growth Fund, Novosibirsk-based Sibanthracite said in a statement today. A fifth of the offered shares, sold as global depositary receipts, will be reserved for investors in the fund, it said. Read more

Base metals likely to remain volatile and move sideways this Summer – Standard Bank

By Dorothy Kosich

The base metals market has largely come to terms with China’s slower growth outlook as the base metal complex is now stabilizing “and range trading heading into the summer following several months of downwards trending prices,” Standard Bank recently noted.

Commodities strategist Leon Westgate already downgraded Standard Bank’s annual forecasts last month, Read more

Gold, Silver Drift Lower, Gold Market “Has Seen Paradigm Shift in Investor Attitudes” Since April

London Gold Market Report

from Ben Traynor

BullionVault

Tuesday 18 June 2013, 07:00 EDT

Gold, Silver Drift Lower, Gold Market “Has Seen Paradigm Shift in Investor Attitudes” Since April Read more

P.M. Kitco Roundup:Gold Ends Weaker; Volatility Collapse Suggests Bigger Daily Price Move Coming

By Jim Wyckoff

Comex gold futures prices ended the U.S. day session modestly lower Monday. The entire market place is subdued to start the trading week, as a much-anticipated U.S. Federal Reserve meeting starts on Tuesday. Comex August gold last traded down $4.90 at $1,382.80 an ounce. Spot gold was last quoted down $8.00 at $1,384.00. July Comex silver last traded down $0.209 at $21.745 an ounce. Read more

Vale Lifts Output as Ore-Price Drop Hits Mines: Corporate Brazil

By Juan Pablo Spinetto

Vale SA, the world’s largest iron-ore producer, aims to increase production to record levels in an attempt to win back market share while higher-cost competitors are hurt by falling prices, said Executive Director for Ferrous and Strategy Jose Carlos Martins.

The Rio de Janeiro-based company can produce as much as 350 million metric tons next year, 40 million tons more than this year, Martins said in a June 14 interview. Read more

China’s looming low-grade coal ban boon for Australia, SA coal

By Shivom Seth

Given the pressure from domestic producers and the chronic pollution across the nation, China is considering clamps on low grade coal imports. While this is expected to radically transform the global scene, the import ban is set to cause volatility in thermal coal prices, even as it boosts domestic benchmark prices. Read more

Minmetals eyes Rio’s Iron Ore of Canada

By Chuin-Wei Yap

TSX Mine Financing Alerts: Who’s Got the Money?

The following companies have filed press releases pertaining to a financing on the TSX and Venture exchanges for mining and exploration activities.

Brokers, analysts and investors can use this information to help evaluate whether a company has the funds to continue the business of making mines to feed the mills that create the metals for myriad uses in today’s growing world.

NEW: RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR. Go to www.shareknow.net now to begin evaluating prospective investments!

 

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
June 17, 2013	Wolverine Minerals Inc	WLV	$350,000.	Closed
June 17, 2013	Diamcor Mining Inc	DMI	$1,984,730.	Closed
June 17, 2013	Brixton Metals Corp	BBB	$569,600.	Closed
June 17, 2013	Geologix Explorations Inc	GIX	$1,000,000.	Proposed
June 17, 2013	Richmont Mines Inc	RIC	$50,875,000.	Closed
June 17, 2013	Liberty Mines Inc	LBE	$500,000.	Closed
June 17, 2013	Hunter Bay Minerals plc	HBY	$500,000.	Proposed
June 17, 2013	Newmac Resources Inc	NER	$15,000.	Proposed
June 17, 2013	Metalcorp Ltd	MTC	$40,000.	Closed
June 17, 2013	Goldeye Explorations Ltd	GGY	$610,000.	Proposed
June 17, 2013	Durango Resources Inc	DGO	$150,000.	Proposed

Gold drops as traders await Fed meeting

By William L. Watts and Carla Mozee

Gold futures fell Monday, with analysts anticipating choppy price action as traders position themselves ahead of a Federal Reserve policy meeting later this week that will be closely watched for clues to the central bank’s next monetary-policy step.

Gold for August delivery GCQ3 -0.30% fell $5.90, or 0.4%, to $1,381.70 an ounce on the New York Mercantile Exchange. Read more

Royal Nickel Seeks Funding for Quebec Project Ahead of Permits

By Liezel Hill

Royal Nickel Corp. (RNX), the developer of the Dumont nickel mine in Quebec, aims to arrange funding for the $1.2 billion project before it receives permits next year, the company’s chief executive officer said.

The mine may produce 73 million pounds of nickel a year once Dumont starts output in 2016, before expanding to an annual average of 113 million pounds after five years, Read more

Palladium holds up better than expected in LBMA poll

By Nicholas Larkin

Best-performing precious metal palladium is holding up better than most analysts anticipated in the annual London Bullion Market Association survey while gold, silver and platinum have surprised every forecaster.

Palladium’s low of $646.95 an ounce so far this year is still higher than 17 of 20 forecasts made in the survey published by the LBMA in January. Prices are up 3.8 percent this year at $730.67 in London, Read more

Rio pulls back from diamond asset sale

By Mitchell Bingemann

FOMC “The Big Driver for Precious metals this Week”, Wall Street Betting Against Silver Price

London Gold Market Report

from Ben Traynor

BullionVault

Monday 17 June 2013, 07:30 EDT

FOMC “The Big Driver for Precious metals this Week”, Wall Street Betting Against Silver Price Read more

TSX Mine Financing Alerts: Who’s Got the Money?

The following companies have filed press releases pertaining to a financing on the TSX and Venture exchanges for mining and exploration activities.

Brokers, analysts and investors can use this information to help evaluate whether a company has the funds to continue the business of making mines to feed the mills that create the metals for myriad uses in today’s growing world.

NEW: RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR. Go to www.shareknow.net now to begin evaluating prospective investments!

 

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
June 14, 2013	True North Gems Inc	TGX	$2,441,964.	Closed
June 14, 2013	Savary Gold Corp	SCA	$1,000,020.	Closed
June 14, 2013	Noble Mineral Exploration Inc	NOB	$7,081.	Closed
June 14, 2013	Finlay Minerals Ltd	FYL	$203,740.	Closed
June 14, 2013	Great Quest Metals Ltd	GQ	$907,999.	Closed
June 14, 2013	Metanor Resources Inc	MTO	$1,891,515.	Closed
June 14, 2013	Falco Pacific Resource Group Inc	FPC	$1,700,000.	Closed
June 14, 2013	Lucky Strike Resources Ltd	LKY	$300,000.	Closed
June 14, 2013	Karnalyte Resources Inc	KRN	$305,670,000.	Proposed
June 14, 2013	Ecuador Gold & Copper Corp	EGX	$1,036,221.	Proposed
June 14, 2013	Goldex Resources Corp	GDX	$500,000.	Closed
June 14, 2013	Victory Nickel Inc	NI	$2,712,000.	Proposed

Gold Survey: Higher Prices Expected In Gold Next Week – Survey Participants

By Debbie Carlson

Gold values could rise next week, at least within the current price range, said a majority of participants in the Kitco News Weekly Gold Survey.

In the Kitco News Gold Survey, out of 36 participants, 23 responded this week. Of those 23 participants, 15 see prices up, while six see prices down Read more

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