Anjin employees still waiting for termination benefits

A report published today by Zimbabwean newspaper News Day reveals that 127 former Anjin Investments employees owed some $407,442 in termination benefits won’t receive payments anytime soon. According to the paper, their application was removed from the roll at the High Court pending Anjin’s Constitutional Court challenge against the State. The workers’ contracts were terminated […]

Diamond ring bought for £10 now worth thousands

Jessica Wyndham, head of Sotheby’s London jewelry department, revealed to the BBC that a 26.27-carat cushion-shaped white diamond from the 19th Century is expected to be auctioned by the house for over 300,000 euros, but it was originally bought for £10. The diamond is encrusted in a ring that a woman bought at West Middlesex […]

Drilling begins on property adjacent to 125,000-oz Kyrgyzstan gold mine

Kenadyr Mining (TSXV: KEN) has started drilling the South Zone of its Borubai concession in the Kyrgyz Republic, hoping to capitalize on the property’s close proximity to a gold mine that in 2015 was opened by one of China’s largest gold producers. Vancouver-based Kenadyr said last week that initial drilling is designed to intersect an area which was previously […]

Kinross sells White Gold District properties for approx. C$60 million

Map of White Gold Corp’s properties in the Yukon, courtesy of the company. Kinross Gold (TSX:K,NYSE:KGC) has unloaded five of its properties in the Yukon White Gold District to newly formed company White Gold Corp (TSXV:WGO) in a cash and share deal worth around C$60 million. The origins of the arrangement go back to December […]

Top 10 financings in April

April saw 121 financings close in the Canadian financial markets for C$522.7 million including 55 financings for gold totalling $207.3 million, some 40% of the April total. The top 10 gold financings totalled $167.5 million representing 81% of the total indicating that bulk of funds raised for gold projects are concentrated in a relatively small […]

The end of reflation? Implications for gold

In the previous editions of the Market Overview, we wrote about the reflation trade. We analyzed the important signals of the uptick in economic activity and inflation all over the world, arguing that the upcoming reflation does not look encouraging for the gold bulls. However, we now see signs that reflation is weakening. What happened […]

Gold juniors’ Q1’17 fundamentals

The junior gold miners’ stocks suffered a serious thrashing between mid-April and early May. Relentless heavy selling blasted many back down near deep mid-December lows, leaving sentiment in tatters. But traders distracted by weak technicals need to keep their eyes on the fundamental ball. The gold juniors just finished their Q1 earnings season, which was […]

The Silver To Gold Ratio, As Undervalued As At Anytime In History

First off, I want to thank the two dozen-plus people who sent well-wishing emails as I fight through my illness, now in its second week.  The oupouring of support is touching, with everything from specific cure suggestions, to simply hoping I “get well soon.”  To that end, I’m happy to say the worst has passed […]

Congo to re-evaluate new mining code next week

Democratic Republic of Congo’s legislators are set to review next week a long-delayed revision to the mining code, which is said to be crucial for the country, as the nation needs the higher revenues a revised legislation would generate. The country’s government abandoned plans to change the mining code in February last year, on fears […]

Heart-shaped diamond breaks record

The largest D flawless heart-shaped diamond was sold on Wednesday in Geneva for $14.9 million. The gem, which is called La Légende and was created by Boehmer et Bassenge, broke a world record in its category. According to auction house Christie’s, the 92-carat diamond forms the centerpiece of a necklace of cultured pearls. It was […]

Venezuelan NGO asks government to kill Mining Arch decree

An NGO based in the southern Bolívar state is calling the Venezuelan government to kill the 2016 decree that creates the Mining Arch of the Orinoco River National Development Strategic Zone. This is a 111,843 Sq.Km concession area for mining gold, diamond, iron, copper, bauxite, coltan, among other resources, that has caught the attention of […]

Northern Dynasty announces Pebble Project advisory committee

Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (“Northern Dynasty” or the “Company”) reports that its wholly-owned subsidiary, Alaska-based Pebble Limited Partnership (“Pebble Partnership” or “PLP”) announced today it has received commitments from five prominent Alaskan and national figures to serve as founding members of an Advisory Committee formed to provide independent, external advice […]

Canada’s Trevali picks up Glencore zinc mines in Africa

Trevali Mining’s (TSX:TV) shareholders approved Thursday a planned acquisition of Glencore’s two African zinc mines, in a transaction that makes of the Canadian miner one of the few multi-asset, low-cost global zinc producers. The acquisition of about 80% of Rosh Pinah mine in Namibia and a 90% stake in in the Perkoa mine in Burkina […]

Is Trump Finished? Hosted By: Financial Survival Network What’s Happening Wednesdays with Andrew Hoffman: Today’s must read article, “Made in America – The Perfect Precious Metals Storm“ Trump/Comey scandal – The end of America as we’ve known it, and the commencement of crisis Trump-flation dead, time for PMs to shine Monetary revolution History’s most overdue financial crisis. […]

First Quantum to kick off massive $5.48bn copper mine in Panama in just months

Canada’s First Quantum Minerals (TSE:FM) is just a few months away from commissioning its massive $5.48 billion copper project in Panama, one of the largest of very few new red metal mines to begin production by the end of the decade. The company, which gained control over the Cobre Panama project in 2013 with the acquisition of rival […]

Tinka Resources: Ayawilca could grow into a world-class zinc asset

Ayawilca Project, Drilling Location 1. Introduction When a zinc junior manages to hit 63.9m @ 5.6% Zn and 51.9m @ 10.1% Zn in the very first stepout drill hole of a new exploration program, you know they could be on to something very special. Until then, the markets were largely unaware of Tinka Resources Ltd. […]

Australian-Barrick partnership eyes substantial gold upside in Guyana

An Australian company which has teamed up with the largest gold company in the world to exploit a corner of Latin America’s untapped mineral riches, says the bulk of Guyana’s gold production has only “just scratched the surface”. Addressing the opening day today of the sixth Paydirt Latin America Downunder conference in Perth, Alicanto Minerals […]