South Africa's NUM union says 1,722 jobs to go at Evander Gold Mine

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JOHANNESBURG, Feb 25 (Reuters) – South Africa’s National Union of Mineworkers (NUM) on Sunday said that Pan African Resources would cut 1,722 jobs at its Evander Gold Mine in the country’s Mpumalanga province. The NUM said the company, which has a total workforce of 1,812 people at the mine, informed the union that the job […]

Nickel-copper-cobalt find vaults Vancouver junior to top of TSX-V ranking

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Garibaldi Resources Corp. (TSX-V:GGI), a Vancouver-based explorer with projects in British Columbia and Mexico, topped the TSX Venture Exchange’s Top 50 rankings in 2017 with a 2,351% year-over-year gain in market value in 2017. More than 150,000,000 of Garabaldi’s shares were traded throughout the year, while its share prices appreciated 1,722% over the course of […]

How Tesla and Google jets could enrich a money-losing gold miner

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(Bloomberg) — Long-struggling Comstock Mining Inc. may finally have its mother lode. The penny stock gold miner — which hasn’t made an annual profit in 13 years as a public company — is selling a 98-acre patch of land next to the Silver Springs Airport outside Reno, Nevada. Located near Tesla Inc.’s gigafactory, the desert runway […]

Burkina Faso seeks new partner for $1 billion manganese project

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(Bloomberg) — Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1 billion project. Pan African Minerals, a unit of Timis Mining Corp., was told to stop production at the Tambao mine in 2015 following a change in leadership in […]

TheDailyGold Premium Update #558

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TheDailyGold Premium #558 was published late Saturday evening and emailed to subscribers. The 29-page update among other things updated our strong buy targets for a number of companies, covered two silver companies we don’t own yet but are very high on our watch list, and answered a subscriber question about one of our stocks becoming […]

The Inflation vs Deflation Debate Never Ends

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Robert Prechter of Elliott Wave International discusses inflation and deflation with GoldMoneys James Turk in this podcast. They also talk about GoldMoney, and the advantages of owning allocated. Source: jamesturkblog.blogspot.com

Galician MP denounces tailings pond breach

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Member of the European Parliament Lídia Senra filed a complaint before the European Commission denouncing the breach of a tailings pond in the Touro municipality, located in the Galicia autonomous community, northwestern Spain. The tailings pond was part of an old copper/gold mining complex operated by the Mining and Metallurgical Society of Peñarroya and Río […]

USD and Gold cycles

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Gold bull and bear markets In the previous part, we thoroughly analyzed the bull and bear trends in the U.S. dollar. But what about gold cycles? Let’s look at the chart below, which shows the long-term behavior of gold prices. Chart 1: Gold bull and bear cycles (from 1971 to 2018, London P.M. Fix, in […]

Gold oddly remains out of favor

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Gold is faring quite well today technically, though you sure wouldn’t know it from the rampant bearish sentiment.  Gold’s price is in a strong uptrend over a year old, high in both its current upleg and young bull market.  Gold isn’t far from breaking out to its best levels since September 2013, a really big […]

Endeavour on track to pour first gold from Ity mine next year

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Shares in Canada’s Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) got a boost Friday after the company announced it was on track to pour first gold at its Ity mine in Ivory Coast by mid-2019. The West Africa-focused firm said the $412-million construction project to upgrade Ity remained on-time and on-budget, adding that engineering, procurement and construction management (EPCM) […]

Deal wizard of South African gold mining is scaring investors

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(Bloomberg) — Investors might be running out of patience with Sibanye Gold Ltd.’s colorful chief executive, Neal Froneman. The South African miner’s stock plunged by a record 16 percent Thursday after the company warned it may consider selling assets, metals streams and — only as a last resort — new shares, if the recent strength in […]

Tahoe lost $18 million last quarter on Escobal mine reopening delays

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Tahoe Resources (TSX:THO)(NYSE:TAHO) lost $18 million, or 6 cents per share, in the fourth quarter of 2017 due to the ongoing shutdown of its flagship Escobal silver mine, in Guatemala. The Reno, Nevada-based company said adjusted loss was $17.7 million, which dramatically contrast with the $18.4 million profit logged a year ago. Net earnings for the […]

THE GODL HODL: How To Buy Gold With Bitcoin

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This article is going to show you exactly how to buy gold with bitcoin but first here’s why you might want to listen to me. I’m Hunter Riley III, author of the Amazon #1 best selling book on gold and silver called “Stack Silver Get Gold”. I’m from Chicago but currently based at the Vanderbilt […]

Dow Jones Tanks As Silver Market Price Bottoming

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Snippet:  During the last 90 minutes of trading on Wednesday, the Dow Jones Index tanked by 400 points. Supposedly, the steep selloff had something to do with the release of the Fed minutes. However, today, the market has reversed once again and is up by 200 points. Unfortunately for mainstream investors, it doesn’t matter what […]

Gold – A Commodity, Currency, or Pet Rock?

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It is common for financial pundits to categorize gold as just a commodity. It is not. Commodities generally have value only to the extent that they are effectively consumed either directly, or indirectly via various industrial processes. This is largely the case even with gold’s sister silver, which does tarnish and, in modern times, has […]

Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia

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Mining giant Rio Tinto (LON, ASX:RIO) will seek approval to build a power plant at its giant Oyu Tolgoi copper and gold mine in Mongolia and so comply with a 2009 investment agreement that calls for local suppliers to power the operation. The move, however, would add further costs to an ongoing $5.3 billion underground expansion of […]