Resource Big News Roundup: Avrupa Minerals Retains 100% of Alvito Project; First Cobalt Assessing Restart of Canadian Refinery; IDM Mining Granted Provincial Environmental Assessment Certificate for the Red Mountain Gold Project

By Danielle Adams

gold outlook free report

This week, the S&P/TSX Composite index (INDEXTSI:OSPTX) continued its trend from last week and steadily dropped. On Friday, the index rose due to gains in healthcare. The S&P/TSX Venture Composite Index (INDEXTSI:JX), meanwhile, continued its trend from last week and steadily dropped, but recovered slightly towards the end of the week.

In case you missed it, here is this week’s resource big news roundup:

Base:

Critical:

Diamond:

Energy:

Precious:

To see our previous Resource Investing Big News Roundups, please click here.


Is it a good time to buy gold stocks?

Learn to profit from gold’s low price this year!

Give me my free report!

The post Resource Big News Roundup: Avrupa Minerals Retains 100% of Alvito Project; First Cobalt Assessing Restart of Canadian Refinery; IDM Mining Granted Provincial Environmental Assessment Certificate for the Red Mountain Gold Project appeared first on Investing News Network.

…read more

From:: Investing News Network

Gold revitalized as equity sell-off spurs second weekly advance

By Bloomberg News

(Bloomberg) — Gold may have finally snapped out of its inertia.

Prices largely held the biggest gain since June 2016, when the U.K. voted to exit the European Union, after a slump in global equity markets stoked demand for the metal as a store of value. Bullion received another shot in the arm during Thursday’s surge after data showing weaker-than-expected U.S. inflation raised speculation that the Federal Reserve may slow the pace of interest rate increases.

Gold, which hit a 10-week-high of $1,226.42 an ounce on Thursday, had held near $1,200 since late August as traders weighed geopolitical risks that could boost the metal’s allure as a haven against rising interest rates that curb its appeal. On Friday, prices dropped but gold still poised for a second weekly advance. Most Asian and European stocks recovered after the biggest sell-off in global equities since February, as U.S. stock futures extended gains and Treasury yields ticked higher.

“Gold bulls were unstoppable on Thursday as global risk aversion sent investors sprinting to safe-haven assets,” said Lukman Otunuga, research analyst at brokerage FXTM. “Although gold prices are noticeably weaker this morning, bulls remain in the driving seat above the $1,213 level. While the technical outlook points to further upside, fundamentals are still in the bear’s favor.”

A gauge of gold-mining equities tracked by Bloomberg Intelligence also had the biggest increase since 2016 on Thursday. On Friday, Randgold Resources Ltd. gained 4 percent, Newcrest Mining Ltd., Australia’s largest producer, rose 3.3 percent and Zijin Mining Group Co. climbed 5.5 percent in Hong Kong.

Other precious metals Silver +0.2% Platinum steady, set for 4th weekly advance in last 5 weeks Palladium +0.9% to $1,089/oz, near highest since January, when record set

(By Ranjeetha Pakiam and Rupert Rowling)

The post Gold revitalized as equity sell-off spurs second weekly advance appeared first on MINING.com.

…read more

From:: Mining.com

US Transportation Index Suggests Bottom May Be Forming

October 11, 2018 Chris Vermeulen Our research team, at www.TheTechnicalTraders.com, is alerting our members that the Transportation Index has reached its first level of support near 10,500 and this level may be the start of an extended bottoming formation.  If you have been following our research posts, you already know that we predicted this recent downside price swing over 3 weeks ago with our Adaptive Learning Predictive Modeling systems.  You will also understand that our modeling systems suggest this move may not end till early November (somewhere between November 8~12).  Keeping this in mind, we are now alerting you to be prepared for the following. This Weekly US Transportation Index chart highlights what we believe will become support for the US stock markets.  The 10,500 level, highlighted by the GREEN horizontal line, is a key support level that goes all the way back to late 2017 and early 2018.  This level will … Continue reading

Commodities and the Dollar

October 10, 2018 A unique setup has occurred in the UUP (Invesco DB US Dollar Index) that resembles an Engulfing Bearish type of pattern (even though it is not technically an Engulfing Bearish pattern).  Technically, an Engulfing Bearish pattern should consist of a green candle followed by a larger red candle whereas the red candle’s body (the open to close range) completely engulfs the previous candle’s body.  In the instance we are highlighting in this article, a unique variation of what we’ll call a “Completely Filled Engulfing Bearish” pattern is setting up. This is when two red candles setup in an Engulfing Bearish type of formation – omitting the requirement that the first candle be green.  Japanese Candlesticks help us to identify the psychology of the market price in relation to our other specialized tools.  We believe this formation is important because both of the red candlesticks that make up … Continue reading

RNC Minerals Recovers 90-kilogram Specimen Slab from Beta Hunt

By Olivia Da Silva

gold outlook free report

Fresh off a major discovery, RNC Minerals (TSX:RNX) has recovered the first specimen slab from the Father’s Day vein at its Beta Hunt mine in Western Australia.

Weighing in at 90 kilograms, the slab is estimated to contain 1,000 ounces of gold.

Cut in the field, the slab shows visible gold and quartz structures; going forward, the slab will be cut into smaller specimen slabs to highlight coarse gold and other mineral features. Once all the slabs have been cut, final weights and gold content will be determined for each.


Is it a good time to buy gold stocks?

Learn to profit from gold’s low price this year!

Give me my free report!

Mining operations to remove a second large specimen slab from the Father’s Day vein are still ongoing, with the expectation that additional high-grade coarse gold will be extracted over the next week.

“We expect that these spectacular specimen slabs will be highly sought after by mineral specimen collectors. With a minimum of 30-35,000 ounces expected from the Father’s Day vein area, the company will be in a substantial net cash position to fully fund its upcoming activities,” RNC President and CEO Mark Selby said in a statement.

RNC Minerals discovered the Father’s Day vein last month, unearthing over 9,000 ounces of gold from a space the size of a living room. The find was later boosted to 24,000 ounces of gold worth $38 million.

While the company had previously put Beta Hunt up for sale in March, later selecting a preferred bidder in July, the major September news made RNC reconsider its options for the mine.

“The for sale sign is off the lawn,” Selby previously told the Investing News Network. “We think it has the potential to be a very large, long-life gold asset and a great addition to the Kambalda-Kalgoorlie area.”

Image courtesy of RNC Minerals.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.


Is it a good time to buy gold stocks?

Learn to profit from gold’s low price this year!

Give me my free report!

The post RNC Minerals Recovers 90-kilogram Specimen Slab from Beta Hunt appeared first on Investing News Network.

…read more

From:: Investing News Network

World’s top copper producer faces lengthy smelter halt at major mine

By Cecilia Jamasmie

Chile’s state miner Codelco, the world’s No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.

CChile’s Codelco is in the midst of upgrading its smelter at Chuquicamata, its second largest operation by size.

Unions expect production at the facility to be suspended for at least 60 days, while the company said some processes are likely to be affected for as many as 80 days, starting Dec. 13. That day, Bloomberg reports, is when the new rules will begin to be enforced.

Century-old Chuquicamata is running out of profitable ore and has to switch to a modern underground operation. The new mine, this time underground, will need 1,700 fewer workers, the company has said, partly because conveyor belts will replace trucks.

Codelco, which hands over all of its profits to the state, holds vast copper deposits, accounting for 10% of the world’s known proven and probable reserves and about 11% of the global annual copper output with 1.8 million metric tonnes of production.

Last year, Chuquicamata produced 330,900 tonnes of copper, out of Codelco’s total of 1.734 million tonnes and the miner contributed nearly $3 billion to Chile’s coffers.

The post World’s top copper producer faces lengthy smelter halt at major mine appeared first on MINING.com.

…read more

From:: Infomine

Great Panther Silver Reports Third Quarter 2018 Production Results and Provides Corporate Update

By Ashley Cowell

Great Panther Silver (TSX:GPR; NYSE:GPL) (“Great Panther”; the “Company”) announces production results for the third quarter (“Q3”) 2018 from its two wholly-owned Mexican silver mining operations: the Guanajuato Mine Complex (“GMC”), which includes the San Ignacio Mine, and the Topia Mine in Durango.

Nine Months ended September 30, 2018 (Compared to the Nine Months ended September 30, 2017)

  • Silver production decreased 3% to 1,419,712 silver ounces (“Ag oz”)
  • Gold production decreased 3% to 16,060 gold ounces (“Au oz”)
  • Lead and zinc production increased 75% and 41%, respectively
  • Consolidated metal production increased 11% to 3,219,182 silver equivalent ounces (“Ag eq oz”)(1)
  • Ore processed increased 4% to 284,985 tonnes

Third Quarter 2018 Production Highlights (Compared to Third Quarter 2017)

  • Silver production decreased 16% to 448,840 Ag oz
  • Gold production decreased 19% to 4,737 Au oz
  • Lead and zinc production increased 29% and 14%, respectively
  • Consolidated metal production decreased 5% to 1,023,128 Ag eq oz(1)
  • Ore processed decreased 1% to 92,920 tonnes
(1) Ag eq oz for 2018 presented in the press release are calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc respectively. Comparative Ag eq oz for 2017 are calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.00676 for the price/ounce of silver to price/pound of lead and zinc respectively. The changes reflect changes in the prices of gold, lead and zinc in relation to the price of silver in 2018 relative to 2017. Prior disclosure of 2018 Ag eq oz production results were computed on different ratios. Please refer to notes in the applicable disclosures.

“We remain on track to meet our production guidance for 2018 with good year-to-date production performance, despite a decline in silver and gold production for Q3 compared to Q3 of last year”, stated James Bannantine, President & CEO. “Given the sustained low metal price environment, we adjusted our mine plan in the third quarter to exercise the flexibility between our mines and plant to reduce mining of higher cost stopes at the Guanajuato Mine. This was a factor accounting for the relative decline in silver and gold production in the third quarter, along with lower grades and recoveries at the GMC and a particularly strong quarter of production for Q3 of 2017. We also initiated other cost reduction measures at our Mexican operations to address the low metal prices. Our focus over the coming months will be on completing the acquisition of Beadell Resources Limited, as well as continuing to progress the Bulk Sample Program at our Coricancha Mine in Peru and advance to a production decision in early 2019.”

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

Guanajuato Mine Complex

In Q3 2018, production at the GMC included silver production of 448,840 oz and gold production of 4,737 oz, which represent a 16% and 19% decrease, respectively, compared to the same quarter in the previous year. During Q3 2018, we took steps to reduce mining of higher cost areas of the Guanajuato Mine. This was partly offset by an increase in ore feed from the San Ignacio Mine. Although San Ignacio has a lower overall mining cost, metal production was also affected by lower grades reflecting variability in the mineralization. The increase in Ag eq oz production reflects the change in the relative Au to Ag price as reflected in the Au:Ag ratio used to compute Ag eq oz.

The San Ignacio mine accounted for 76% of the total ore processed at the GMC in Q3 2018, compared to 58% in Q3 2017.

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

Topia Mine

In Q3 2018, silver and gold production from the Topia Mine declined 2% and 14%, respectively, compared to the same quarter in the previous year. Lead and zinc production increased 29% and 14% compared to the same quarter in the previous year, which contributed to the 15% increase in metal production in the quarter. The rise in metal production is attributed to higher tonnage processed coupled with higher lead and zinc grades.

The increase in ore processed is the result of a combination of mining areas with wider veins, as well as higher mill availability due to improved operational efficiencies.

The production tonnage in Q3 2018 saw lower silver and gold grades compared to the same quarter in the prior year. However, the decrease in silver and gold grades was more than offset by the increased lead and zinc grades.

(1) Silver equivalent ounces for 2018 were calculated using an 80:1 Au:Ag ratio, and ratios of 1:0.0636 and 1:0.0818 for the price/ounce of silver to price/pound of lead and zinc, respectively. The ratios are reflective of average metal prices for 2018.
(2) Silver equivalent ounces for 2017 were calculated using a 70:1 Au:Ag ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively, and are reflective of average metal prices for 2017.

OUTLOOK

Cash cost and AISC for Q3 2018 will be higher than full year …read more

From:: Investing News Network

Chris Kimble from Kimble Charting Solutions – Fri 12 Oct, 2018

By Cory댊

Many Charts Showing The Metals At Key Inflection Points

Chris Kimble, Founder of Kimble Charting Solutions joins me to outline a number of ratios (charts below) that are at key inflection points. There is no guarantee that these trends change at the current time but the bounces we have seen in PMs and the stocks are encouraging.

Download audio file (2018-10-12-Chris-Kimble.mp3)

Click here to visit Chris’s site – Kimble Charting Solutions.

SPY:HUI

USD

XAU:SPY

…read more

From:: The Korelin Economic Report

Canada’s Rusoro Mining reaches $1.3B deal with Venezuela

By Cecilia Jamasmie

Canadian junior Rusoro Mining (TSX-V: RML), which in March scored a major victory in its international arbitration complaint against Venezuela, has accepted the almost $1.3 billion offered by the country’s government as settlement for the seizure of the company’s gold projects.

The deal gives Venezuela Rusoro’s mining data and forces it to fully release the arbitral award issued in favour of the miner in August 2016.

Settlement creates partnership that could lead to restarting production at Rusoro’s former mines in the South American country.

It also creates a partnership between the parties that will assess the current status of Rusoro’s former gold projects and consider options of restarting production at two mines. A decision of the future of those assets will be made by the end of January, the company said.

The dispute between Rusoro and the South American nation goes back to 2011, when former president Hugo Chávez nationalized the gold industry and seized the company’s 95%-owned Choco 10 mine as well as its 50%-owned Isidora mine.

The Vancouver-based company attempted a series of negotiations with Chávez’s left-wing government but after they all failed, its legal team took the matter to the International Center for the Settlement of Investment Disputes Expropriation (ICSID).

That Tribunal upheld Rusoro’s claims that Venezuela had breached its obligations under the Canada-Venezuela Bilateral Investment Treaty. It also order the country’s government, in addition to pay compensation for damages, to contribute $3.3 million towards Rusoro’s costs in the arbitration.

The post Canada’s Rusoro Mining reaches $1.3B deal with Venezuela appeared first on MINING.com.

…read more

From:: Mining.com

BTU Mobilizes Crews to Dixie Halo Property Contiguous to Great Bear’s Dixie Project, Red Lake District, Canada

By Ashley Cowell

™

BTU Metals Corp. (TSXV:BTU)(“BTU” or the “Company”) announces that crews have mobilized for a site visit on the Company’s Dixie Halo property, which adjoins the northern and eastern boundaries of Great Bear Resources Corp.’s (TSXV:GBR) Dixie Project located in the Red Lake District of Ontario. Great Bear recently reported the SLZ discovery in drill hole DSL-004, at only 75 metres (m) of vertical depth, returning 1.75 m of 101.05 grams per tonne gold (“g/t gold”) within a vein zone of 10.35 m of 18.23 g/t gold (see PR dated Sept. 27, 2018). The new discovery has generated an online staking rush in the area with the Company’s Dixie Halo viewed as the closest to, and one of the most strategically located property positions in this emerging gold camp. In addition, Great Bear has recently raised over $10 million with funds focused towards exploration of the Dixie Lake project.

The site visit is led by both the Company’s VP of Exploration, Don McKinnon, as well as independent director Doug Hunter (P.Geo).

One priority target is located on the southern portion of the Dixie Halo property, where previous work by Laurentian Goldfields (now Pure Gold Corp.) outlined a significant Mobile Metal Ion (MMI) geochemical gold anomaly approximately 500 by 700 meters in area. MMI™ measures metal ions that travel upward from mineralization to unconsolidated surface materials such soil, till, sand and so on. These mobile metal ions are released from mineralized material and travel upward toward the surface. MMI It is especially well suited for terrain with extensive overburden cover such as the Dixie Lake area, and this geochemical procedure is widely applied for buried Archean gold mineralization.

The technical contents of this news release were approved by Douglas Hunter, PGeo, a qualified person as defined by the National Instrument 43-101. The properties have not been the subject of an NI 43-101 technical report.

About BTU Metals Corp

BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and the Shakespeare Gold project in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.ON BEHALF OF THE BOARD

“Paul Wood”

Paul Wood, CEO, Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

Click here to connect with BTU Metals Corp. (TSXV:BTU) for an Investor Presentation.

The post BTU Mobilizes Crews to Dixie Halo Property Contiguous to Great Bear’s Dixie Project, Red Lake District, Canada appeared first on Investing News Network.

…read more

From:: Investing News Network