Relief Rally in Gold Stocks

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By Jordan Roy-Byrne – December 16, 2017 In recent days the gold stocks (GDX, GDXJ) traded within 1% of our downside targets of GDX $21.00 and GDXJ $29.50. Last week we wrote: “the miners are getting oversold and a bounce could begin from those levels.” GDXJ troughed first last week… Source: gold-eagle.com

Mexican miners reach deal with Canadian company, go back to work

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Following a 40-day stoppage, employees of Minera Media Luna who work at El Limón-Guajes site in the Mexican state of Guerrero are going back to work. Minera Media Luna is Canada’s Torex Gold Resources (TSX:TXG) wholly-owned subsidiary in the Latin American country. It operates the El Limón-Guajes project, one of the richest open-pit gold deposits […]

CHART: High flying metals to fall back to earth in 2018

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Gold’s looks like it’s limping to the finish line with a $100 decline from it’s 2017 high hit three months ago, but bullion bulls would probably feel happy about a second year of near double digit gains (provided the last fortnight of 2017 has no surprises in store). Silver’s been a real disappointment this year with […]

Mining's Mr. Fix-It brings extinction of 100-Year-Old Lonmin

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(Bloomberg) — After years of near-death experiences, the story of Lonmin Plc is finally over. The company, one of Britain’s most prominent conglomerates of the 20th century, agreed to be bought by Sibanye Gold Ltd., a four-year-old miner run by Neal Froneman, who earned the nickname ‘Mr Fix-It’ for his turnaround successes in the 1990s. The […]

Asia Gold-Price dip props up demand, India buyers await lower prices

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BENGALURU/MUMBAI, Dec 15 (Reuters) – Gold demand in most Asian centres firmed this week, spurred on by a dip in prices although buyers in the world’s second-biggest consumer India held off buying in the hope of further falls. Spot gold touched $1,235.92 an ounce this week, its lowest level since July 20. “Very good demand […]

Poland's KGHM considers appeal against British Columbia mine rejection

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VANCOUVER/WARSAW, Dec 15 (Reuters) – Polish miner KGHM said on Friday it was considering its next step after British Columbia said it would not issue an environmental certificate for its Ajax copper and gold mine in the province’s interior. The proposed mine aims to produce 109 million pounds of copper a year and 99,000 ounces […]

British Columbia rejects KGHM's proposed Ajax mine

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VANCOUVER, Dec 14 (Reuters) – British Columbia on Thursday said it would not issue a provincial environmental certificate for the Ajax gold and copper mine in the province’s interior, saying the adverse effects of the controversial project would outweigh any benefit. Canada’s environment minister Catherine McKenna separately recommended against the project, saying it was likely […]

Finning signs $185m contract with Lundin

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Finning International Inc. (TSX:FTT) has inked a US$185 million contract with Canadian mining company Lundin Mining Corp. (TSX:LUN) to supply mining equipment for Lundin’s Candelaria copper-gold mine in Chile. Finning, headquartered in Vancouver, is the world’s largest distributor of Caterpillar Inc. (NYSE:CAT) heavy equipment and vehicles. Under the contract with Lundin, Finning will supply 70 […]

What to expect for gold in 2018

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Story by John Reade Investor attention may have been focused on US equity markets, technology stocks and crypto currencies this year, but gold has still had a decent 2017, delivering double-digit growth in the first 11 months alone. The strong performance is particularly noteworthy in a year when the US has been hiking rates and […]

Gold’s Upside Target

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By P. Radomski – December 14, 2017 In our Monday’s analysis, we emphasized that a lot changed from the short-term point of view, even though price changes in gold and silver were small. On Tuesday, we argued that closing our short position on Tuesday had been justified. Mining… Source: gold-eagle.com

Bitcoin frenzy poses no threat to bullion, Goldman Sachs says

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Video: why bitcoin could turn into digital gold The flurry of excitement over bitcoin and the lackluster performance of gold have begged the question: is the cryptocurrency taking demand from bullion? The answer is no, according to Goldman Sachs Group Inc. While bitcoin has shown much greater volatility and lower liquidity compared to gold, the […]

Gold fields Ghana to dismiss 1,500 staff as contractor hired

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(Bloomberg) — Gold Fields Ltd.’s unit in Ghana said it will dismiss 1,500 of its own staff as the company is hiring a contractor to operate its biggest mine in the West African nation. A contractor will take charge of the Tarkwa operations from early 2018 as the deposit’s remaining life span is too short to […]

Report investigates human rights abuse linked to Kinross Gold's Brazilian mine

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OTTAWA, RIO / December 11, 2017 – A report released today by Above Ground and Brazilian organization Justiça Global documents human rights abuse tied to a Canadian mine in Brazil. The project is operated by a subsidiary of Kinross Gold, a Canadian company financed by the government of Canada. The report comes amidst expectations that the Canadian government will soon […]

Robots will run mines within the next decade, Anglo says

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Some mines in the next decade will run without humans and instead rely on robots, virtual models and sensors, according to Anglo American Plc. Anglo is betting on technology, such as computerized drills with “chiseling ability as good as a human” to increase productivity, cut costs and reduce environmental impact, Tony O’Neill, technical director at […]

Gold fundamentals not bullish yet

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By Jordan Roy-Byrne CMT, MFTA Too many technical analysts dismiss fundamentals. True, technicals usually lead fundamentals but understanding the fundamental drivers (when it comes to Gold) can give you an edge. Gold and gold stocks have remained below their 2016 peaks even in the face of a very weak US Dollar because the fundamentals are […]