Daily Market Wrap – Mon 24 Apr, 2017

By Cory Don’t trust the gap up in the US markets today The US markets gaped up today and the VIX made a big gap down. I am not buying into this move today. Some quick comments on the USD, gold and silver is also included in this market wrap. After looking at the silver chart I was a little surprised at my outlook considering how it has been struggling recently. Download audio file (2017_04_24-Market-Wrap.mp3) …read more Source:: The Korelin Economics Report The post Daily Market Wrap – Mon 24 Apr, 2017 appeared first on Junior Mining Analyst. … Continue reading

Newmont lifts gold production by 9%

By analyst By Frik Els World number two gold producer Newmont Mining (NYSE: NEM) announced first quarter 2017 results on Monday that show adjusted net income of $133 million or $0.25 per diluted share and a 20% jump in year on year earnings to $566 million. The Denver-based company increased net operating cash flow from continuing operations to $379 million and free cash flow to $199 million, up $322 million from the prior year quarter helping the company reduce net debt to $1.7 billion, ending the quarter with $2.9 billion cash on hand. The Subika Underground mine will produce 1.8 million ounces of gold over an 11-year mine life, and access ore grades that are three times higher than Newmont’s surface mines Attributable production expanded by 9% to 1.23 million ounces. Production from Merian and Long Canyon more than offset geotechnical issues at Carlin according to the company while exceptional … Continue reading

Rate Hike Fever: “Everybody is Getting Tarred and Feathered”

By Greg Guenthner This post Rate Hike Fever: “Everybody is Getting Tarred and Feathered” appeared first on Daily Reckoning. There’s nothing worse than getting stuck holding a lame stock. But you don’t have to deal with the emotional pain caused by the meltdown of one of your investments. If you learn the two simple market secrets I’m about to reveal today, you can protect your brokerage account from big losses. I’ll also show you how use these tips to spot a failing investment before you buy shares. Listen, I know how easy it is to get caught up in the story of an exciting company. In fact, nearly every person who has invested a dollar in the stock market has bet on an intriguing story. There are plenty of compelling businesses out there. However, we all know that most of these stories don’t pan out. Don’t feel bad. We’ve all … Continue reading

You’d Have to Be Drunk to Own This Beer Stock

By Alexander Green After a round of golf about 20 years ago, a friend invited me to taste a draft beer he’d just discovered. It was Samuel Adams Boston Lager. I took a sip and looked at him with a grin. “That may be the best beer I ever tasted,” I said. (This, of course, was long before the nation had 5,300 craft breweries turning out a slew of delicious, innovative brews.) I told my buddy I had just one question: “Is the company that makes this publicly traded?” Indeed, it was. I bought 2,000 shares of Boston Beer (NYSE: SAM) at the market open the next morning. It was a good move. In the years that followed, my shares doubled, doubled again, and doubled many, many more times. But this might be the last stock I’d buy today. In fact, if you’re looking for potential short candidates, you might … Continue reading

Galantas Gold plummets as it halts Irish mine expansion on terrorism fears

By analyst By Cecilia Jamasmie Shares in Galantas Gold (TSX, LON:GAL) collapsed in London Monday after the Canadian miner announced it had halted expansion work at its Omagh gold mine as the Police Service of Northern Ireland (PSNI) said it was unable to guarantee it the necessary “anti-terrorism cover” for its blasting operations. The Toronto-based company, which had has begun underground development at Omagh last month, was going to create 130 new jobs due to the expansion, but it now says it was reviewing potential redundancies with recently hired mine staff, and any new recruitment or ongoing investment had been “deferred”. The Police Service of Northern Ireland told the miner it cannot grant it daily anti-terrorism cover for its blasting operations at the Omagh gold mine. The stock plummeted on the news and it was down almost 33% to 4.65p at 1:41PM GMT, while it was trading 20% lower in … Continue reading

Nearly 100 Days In, Is Trump Any Closer to Fiscal Reform?

click to enlarge I believe this response is way overdone. BCA geopolitical strategist This week I will be in Washington, D.C., attending Evercore ISI’s Energy Policy & Geopolitics Conference, where I will be visiting senior staff from the White House infrastructure team and House Energy and Commerce Committee. I will also be meeting with John Fagan, head of the Treasury Department’s Markets Room, and Robin Dunnigan, the Bureau of Energy Resource’s Deputy Assistant Secretary for Energy Diplomacy. Among the topics of discussion will include energy independence, legal and policy issues impacting the energy sector, tax reform and geopolitical risks in Syria, Russia and Iran. I want to extend my gratitude for this opportunity to Evercore ISI chairman Ed Hyman, who was ranked as the top economist by Institutional Investor magazine for 35 straight years, from 1980 to 2014. I’ll have much to share with our investment team when I return. … Continue reading

Despite difficulties, Randgold set to expand Tongon past 4 years

By analyst By Andrew Topf London-listed Randgold Resources (LON:RSS) isn’t letting labour unrest including a recent illegal sit-in by workers ruin its prospects for its Tongon gold mine in Côte d’Ivoire (Ivory Coast). The Africa-focused gold producer said on Sunday it has confirmed “multiple opportunities for extending the life of the operation beyond the current four-year horizon,” according to CEO Mark Bristow, who spoke to reporters at the minesite. Bristow said near-mine targets “with high resource potential” are the primary focus of the exploration program at Tongon. The company ended 2016 with a gold production record for the fourth quarter, and says Tongon is on track to achieve its production guidance of 285,000 ounces for 2017. “The past year has again been a difficult one as Côte d’Ivoire met further challenges in its nation-building process. These included a wave of strikes and protest actions which impacted negatively on civil society, … Continue reading

Mount Polley permitted to pipe treated wastewater into Quesnel Lake

By analyst By Andrew Topf Nearly three years after a tailings dam at Mount Polley copper-gold mine in British Columbia breached, mine owner Imperial Metals (TSX:III) has been granted a water discharge permit from the B.C. government that will allow the company to flow treated mine wastewater into Quesnel Lake. CBC News reported last week that the BC Liberal government, which faces an election on May 9, approved the long-term wastewater management plan on April 7th. The issue of a water discharge permit has turned out to be a critical factor in not only the cause of the tailings dam breach, but the amount of damage it caused to the watershed. Under the Ministry of the Environment plan, wastewater will be collected in ditches that will drain into ponds, allowing the solids to settle. Water will then be treated before being piped into Quesnel Lake at a depth of 45 … Continue reading

Siberian gold mine collapse kills two

By analyst By Andrew Topf Two gold miners are dead and one is in critical condition after an underground gold mine near the Siberian city of Chelyabinsk partially collapsed. Citing an industry watchdog and a report from Russian news agency TASS, state-owned RT said the incident occurred at the 700-metre level. More than 160 miners were evacuated at the Tsentralnaya mine known as “Central”, located about 1,800 kilometres from Moscow. The injured worker, who was trapped beneath rubble, is currently being treated in emergency care having suffered two broken legs and numerous wounds. According to RT, “[a]n emergency response team [was sent] to the scene to find out the cause of the collapse, and an investigation commission has been set up to look into the incident.” EBL News, a Youtube aggregation service, said a criminal case has been opened to examine a reported possible violation of labour protection rules. RT … Continue reading