Bitcoin Goes Legit

By Brian Maher

This post Bitcoin Goes Legit appeared first on Daily Reckoning.

Dear Reader,

Bitcoin takes its next step to $50,000… $1 million… or 1 cent…

The Chicago Board Options Exchange (CBOE) opened bitcoin futures to trading this weekend.

The Chicago Mercantile Exchange (CME) plans to open its own bitcoin futures next Monday, Dec. 18.

Lest you are unaware of the subtle arts of finance, futures trading allows investors to wager on the future price of an asset.

Futures are agreements to buy and sell a certain product at a certain date — bitcoin in this case.

Many consider bitcoin’s acceptance on regulated exchanges an indication that bitcoin has passed beyond the shadowy fringe of crime, of terror, of vice… and into the mainstream light of day.

And so like a successful bank robber turning to respectable work, bitcoin drops the gun for the briefcase… exchanges the bandit’s mask for the businessman’s suit… and takes to life under Law.

Al Capone turns Al Hunt.

Greg Dwyer, head of business development at Bitcoin Mercantile Exchange:

Bitcoin now trades, pretty much, on unregulated markets. The fact that it’s going to start trading on [regulated exchanges] brings an air of legitimacy to the space because it’s going to bring in mainstream and professional investors and have them be more comfortable participating in the futures market, which is more regulated…

This is a big endorsement for the digital currency trading space. We could see more flows come into it and also, not only that, but futures help dampen and reduce the volatility of the price. So this could help stabilize bitcoin as an asset class.

Adds financial reporter Lucinda Shen, in Fortune:

With the CBOE, CME, Cantor Fitzgerald and other well-worn Wall Street names saying they plan to get in on the game, bitcoin believers are more convinced than ever that the cryptocurrency is here to stay…

Even more demand for bitcoin futures could also serve to push up bitcoin prices, as it would be a sign that some more established investors may be growing bullish in bitcoin.

How did bitcoin futures fare in their inaugural session?

They surged as much as 26%.

Traffic was so thick it caused delays and outages.

Heavy volume triggered two temporary trading halts to settle the horses.

“It is rare that you see something more volatile than bitcoin,” exclaims Zennon Kapron, managing director of consulting firm Kapronasia, “but we found it: bitcoin futures.”

Bitcoin volatility without futures was a thing in itself.

It swung $6,000 in one day alone last week.

And with a futures market?

Will we be treated to delirious combats of bitcoin bulls and bitcoin bears… with violent swings of hundreds of dollars per day… even thousands?

CBOE bitcoin futures carry a 44% margin rate — the amount a trader has to set aside as collateral for potential losses.

That 44% is much higher than standard futures contracts.

Bitcoin is notoriously volatile, after all.

What has the initial speculation indicated for bitcoin’s future?

Higher prices — at least through March.

The CBOE currently lists three bitcoin futures, expiring in January, February and March.

Bitcoin futures contracts maturing in …read more

Source:: Daily Reckoning feed

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Zinc price dodges bullet

By analyst

By Frik Els

After an initial dip zinc prices rose on Tuesday after top producer of the metal Glencore held its output forecast steady for next year.

On the LME, zinc was exchanging hands for $3,170 a tonne on Tuesday up more than 1% from the previous close, bringing gains for 2017 to 23%.

The market was expecting more of an immediate supply increase

The metal has more than doubled since hitting multi-year lows in January 2016 which prompted Swiss-based Glencore to curtail production to shore up prices.

Glencore told investors Tuesday it would restart its Lady Loretta mine in the first half of 2018, but added that it expects zinc output to fall slightly to about 1.09 million tonnes from 1.1 million tonnes this year.

In 2019, Glencore sees its zinc output creeping up to 1.16 million tonnes.

“Based on their guidance numbers it does remain fairly constructive for zinc. The market was expecting more of an immediate supply increase,” said ING commodities strategist Warren Patterson.

However, he added that ING expects overall global zinc supply to increase next year with the addition of capacity coming online in Australia (MMG’s Dugald River project) and South Africa (Vedanta’s Gamsberg mine).

(Reuters contributed to this article)

The post Zinc price dodges bullet appeared first on MINING.com.

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Source:: Infomine

The post Zinc price dodges bullet appeared first on Junior Mining Analyst.

Shares in Katanga surge 50% on Congo mine restart

By analyst

By Frik Els

Shares in Toronto-listed Katanga Mining, added another 25% in value on Tuesday after announcing it has restarted its giant copper-cobalt operation in the Democratic Republic of the Congo.

On Monday trading in the company’s shares were briefly halted on the TSX after investors piled into the US$2 billion stock, but the rally continued on Tuesday with shares in Katanga now up 52.7% over two days.

Swiss mining and commodity trading giant Glencore which owns 86% of Katanga suspended mining at the central African mine in 2015 as copper slumped to six-year lows and cobalt prices languished at levels not seen in nearly two decades.

Glencore confirmed it was in talks with Tesla, Apple and Volkswagen on the supply of cobalt

After a major refurbishment Katanga’s cobalt production was forecast at 11,000 tonnes in 2018 before tripling the following year to 34,000 tonnes and maintaining those levels in 2019.

Annual global production is pegged at some 110,000 tonnes. Cobalt is almost entirely the by-product of copper and nickel mining and the bulk is produced in the politically unstable DRC, raising concerns of supply.

Cobalt prices have gone ballistic in 2017 with the metal quoted on the LME vaulting past $75,000 a tonne, a 127% surge year to date.

Just over the last three weeks the price is up by more than 20%, but the jump in production from Katanga may cool the market for the raw material which has been the main beneficiary of the scramble for raw materials used in batteries.

Glencore says it expects to produce 63,000 tonnes of cobalt annually by 2020 and the world’s number four miner also confirmed it was in talks with Tesla, Apple and Volkswagen on the supply of cobalt.

Copper output at Katanga of 150,000 tonnes was expected next year and 300,000 tonnes per year starting in 2019, placing it in the top 20 of global copper mines in terms of production.

The post Shares in Katanga surge 50% on Congo mine restart appeared first on MINING.com.

…read more

Source:: Infomine

The post Shares in Katanga surge 50% on Congo mine restart appeared first on Junior Mining Analyst.

The Stock Market and the FOMC

By Pater Tenebrarum

An Astonishing Statistic

As the final FOMC announcement of the year approaches, we want to briefly return to the topic of how the meeting tends to affect the stock market from a statistical perspective. As long time readers may recall, the typical performance of the stock market in the trading days immediately ahead of FOMC announcements was quite remarkable in recent decades. We are referring to the Seaonax event study of the average (or seasonal) performance across a very large number of events, namely the past 160 monetary policy announcements and the 10 trading days surrounding them. It looks as follows:

We have highlighted the period of maximum profit over the past 20 years in dark gray, which is achieved over a holding period of 8 trading days and amounts to an average of 60 basis points. At first glance that may not look like much, but it actually works out to a 21.89 percent annualized gain, which exceeds the gain generated in the “rest of the time” by a vast margin. As the detailed returns in individual years at the bottom show, in some years particularly large gains were posted around FOMC meetings – these were as a rule associated with new cyclical bull markets just after the end of major bear markets. The largest losses were obviously primarily associated with bear market periods, but they are both much fewer in number than the gains and much smaller on average – click to enlarge.

It makes little difference if one extends the study to a 30 year time frame (or 240 events) – the return is almost the same, only the optimal holding period becomes 9 days instead of 8 trading days. The same holds if one compresses the study to 15 years or 120 events – the return and optimal holding period are equal to those of the 20 year study. If one compresses it further to just 10 years (or 79 events), the result actually gets better: the average return per event expands to 0.72%, boosting the annualized return to 27.10 percent.

Obviously, the smaller the sample size, the less statistical validity the result will have, but we have noticed that it often makes sense in seasonal studies to look at studies in shorter time frames as well. In fact, as long as a major market trend remains intact, “recency bias” will increasingly tend to hold sway.

When halving the number of events in the study, the result becomes even more impressive – obviously, this is mainly due to the strength of the post-GFC echo bubble – click to enlarge.

When the number of events included in the study is expanded to 700, or a 90-year time period, a significantly smaller average return of 0.38% is achieved (however, the median is higher at 0.50%, due to the proliferation of large gains in more recent decades). This is still an impressive 14.69 percent annualized, which beats the “rest of the time” gain handily as well.

Source:: Acting Man

The post The Stock Market and the FOMC appeared first on Junior Mining Analyst.

Junior Miner Looking Good for Commercial Production in 2018, Analysts Say

Source: Streetwise Reports 12/12/2017

A flagship Nevada project is showing results and the company anticipates commencing commercial production in the first quarter of 2018.

In a Dec. 11 press release, Rye Patch Gold Corp. (RPM:TSX.V; RPMGF:OTCQX) summarized the Florida Canyon mine’s production results for the month of November:

  • Placed 8,059 ounces of gold on the pad (23 percent above plan);
  • Produced 3,491 ounces of gold and 1,825 ounces of silver, 20 percent higher than October;
  • Mined 730,900 tons of ore (21 percent above plan);
  • Crushed 728,900 tons of ore (21 percent above plan);
  • Maintained a grade of 0.011 opt of gold including over liner material; and
  • Achieved a low strip ratio of 0.45 for the month (74 percent below plan).

“Production reaching 3,500 ounces represents a key milestone in the continuing upward production trend. At this point mining operations now begin to contribute positive cash flows to the Company,” stated William Howald, the company’s president and CEO. “Three of the four new 785 haulage trucks are working with the fourth to be operational in early December. Over liner material has been laid over an extent that maximizes leach cell size and allows for a primary leach cycle of 45 days before stacking the second lift. Overliner will be completed in late December. The positive trend is continuing in Q4.”

“The October and now November production results confirm the Florida Canyon mine is ramping up to commercial production in Q1 2018,” he added.

George Topping, analyst with iA Securities, stated in a Dec. 11 report that “three new haulage trucks have been added, with a fourth expected this month. Additionally, the overliner placement is expected to be completed shortly. Both of these events should increase efficiencies at the mine, allowing more ore to be stacked on the pad and uninterrupted leaching.”

“Rye Patch has a low EV (US$15/oz.) for a mine that just started production, and with a 200Koz p.a. capacity at the plant, at our increasing gold prices, Rye Patch should be a highly profitable mine once through the build-up period, with significant growth potential through bootstrapping Lincoln Hill and Wilco,” Topping concluded. Topping rates Rye Patch as a Buy with a target price of CA$0.70.

In a Nov. 29 report, Macquarie analyst Michael Gray highlighted that he sees “potential multi-million ounce potential, including high grade feeder structures at FCM, with over a fairly sizeable target footprint and potential +200m thicknesses as observed from the latest drill results and also previous drilling.” He points out that the Florida Canyon mine is “turning the corner in terms of several leading indicators (mining & crushing rates, head grade, fresh plastic pad availability).”

Gray concluded by reiterating Macquarie’s Outperform rating and C$0.50 target price on Rye Patch, noting “The sulphide drill results enhance the catalyst complexion; however, we remain focused on the ramp-up execution at Florida Canyon.”

Rye Patch shares are currently trading at around CA$0.23.

Read what other experts are saying about:

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Disclosure:
1) Melissa Farley compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Rye Patch Gold. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Additional disclosures about the sources cited in this article

( Companies Mentioned: RPM:TSX.V; RPMGF:OTCQX,
)

Guyana Shield Is Host to Multiple Gold Deposits

Guyana Goldstrike's Marudi Gold Project

Source: Streetwise Reports 12/12/2017

As two Guyana projects begin commercial gold production, a new mineral resource estimate is in the works for a third project.

The Republic of Guyana is an English-speaking, democratic, South American country tucked between Venezuela and Suriname. In 2016, Guyana produced 690,000 ounces of gold as two mines began commercial production: the Aurora deposit (Guyana Goldfields Inc. [GUY:TSX]) and the Karouni deposit (Troy Resources Ltd. [TRY:TSX; TRY:ASX]).

As Guyana opens its borders to international investment, Guyana Goldstrike Inc. (GYA: TSX.V; GYNAF:OTC; 1ZT:FSE) is updating its historical mineral resource estimate for Mazoa Hill Zone at the Marudi Gold Project.

Guyana Goldstrike announced on Nov. 21 that it has hired Global Mineral Resource Services to establish a new mineral resource estimate to be included in an NI 43-101 technical report. The company noted that there have already been 54 holes (9,666 meters) of diamond drilling completed on Mazoa Hill by previous owners, resulting in a historical mineral resource estimate.

Guyana Goldstrike stated that its immediate objective is to update the historical work with modern geological techniques, and to try to expand the resource through development of the current zones and through the discovery of new zones.

The entire Marudi Gold Project has three known gold-bearing areas: the alluvial areas, the saprorlite overburden, and the underlying hard rock. Project-wide, there has been 42,000 metres of diamond drilling (141 holes) resulting in a delineated historical mineral resource estimate, the company reported.

A 2016 NI 43-101 Technical Report on the Marudi Property states that “The central zone, which includes Mazoa Hill, Peace Creek and Marudi Mountain, is characterized by fine gold associated with massive iron formation.”

Metallurgical studies “conducted between 1982 and 1995 indicate the mineralized rock is responsive to conventional cyanidation and pre-concentration by flotation or gravity methods and potentially amenable to heap leaching,” the report noted.

“The project has a mining license in good standing, all-season road access, infrastructure in place, with an established mining camp serviced by employees, service buildings, and a full-time mining manager,” the company stated in the Nov. 21 news release.

Guyana Goldstrike warns that the historical estimates and mineral reserves are not accordance with National Instrument 43-101. However, “the Company does consider these historical estimates to be relevant as they may indicate the presence of gold mineralization and favourable geology.”

On Nov. 16, Guyana Goldstrike announced that it had commenced phase 1 exploration activities at Marudi.

It noted that the phase 1 objectives included:

  • Up to 12,000 metres of trenching
  • Extensive rock and soil sampling
  • Expansion of surface mineralization in known zone
  • Detailed geological mapping (lithologic, alteration, and structural)
  • Discovery of new mineralization and evaluation
  • Drill-target selection and definition

“The Company’s exploration strategy is to upgrade and expand the Project’s two known mineralized zones and to continue to explore for new areas of mineralization,” stated Locke Goldsmith, MSc., Chief Geologist and Exploration Manager for Guyana Goldstrike. “Marudi is greatly under-explored and possesses tremendous potential for additional discoveries.”

The current exploration focus represents less than 5% of the total land package. New areas of interest include: Kimberley Ridge, Marudi North (west and east extensions), Marudi Spur Ridge, Toucan North, Pancake Creek, Mariwa and Success Creek, the company stated.

According to a November 9 press release, “The proposed exploration program on the Property will be completed in multiple phases, as working capital and financing are made available to the Company. The Company may also elect to alter subsequent phases of the program, based on the results and success of earlier phases.”

“Political risk discount” refers to share price depreciation caused by the possibility of a local or national government shutting down a mining project.

The political discount in Guyana is rapidly shrinking. Guyana is open to foreign investment and ideas. For example, members of the Guyana Police Force are being trained by Canadian police to improve investigative protocols and techniques.

The Fraser Institute’s 2016 Annual Survey of Mining listed Guyana as the third best mining jurisdiction with regards to investment attractiveness in the Latin America and Caribbean Basin subgroup.

Guyana Goldstrike noted that a 2016 Independent Technical and Environmental Review of the Karouni project by Behre Dolbear Australia Pty Ltd. determined that “The Guiana Shield has over 100 million ounces of gold inventory and is world-recognized as a premier gold region.”

Read what other experts are saying about:

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Lukas Kane compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Guyana Goldstrike. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

( Companies Mentioned: GYA: TSX.V; GYNAF:OTC; 1ZT:FSE,
)

Argentina’s Don Nicolás gold-silver project goes into production

By analyst

By Valentina Ruiz Leotaud

As of today, Minera Don Nicolas starts production at its gold-silver project in the Macizo del Deseado, located in the southern Argentinian province of Santa Cruz.

Local firm Compañía Inversora de Minas (Ciminas) put down an initial investment of $250 million with the hope of transforming this project into a world-class mine. Reserves at the site’s two major deposits, Las Palomas and Martinetas, are said to be of 469,000 ounces of gold and 718,000 ounces of silver.

Besides having all the environmental permits in place, Ciminas is striving to build a workforce mostly comprised of workers from the surrounding towns of Fitz Roy and Jaramillo. The kickstart of operations is expected to create 210 direct jobs and 150 indirect jobs.

Don Nicolas is a conventional open pit, carbon-in-leach gold project that was bought by Ciminas back in 2014 from Latin American gold mining company Minera IRL Limited (AIM:MIRL)(BVLAC:MIRL)(TSX:IRL). Initial work at the site dates back to 2009.

The post Argentina’s Don Nicolás gold-silver project goes into production appeared first on MINING.com.

…read more

Source:: Infomine

The post Argentina’s Don Nicolás gold-silver project goes into production appeared first on Junior Mining Analyst.

KER Politics – Mon 11 Dec, 2017

By Big Al

This article submitted by Tim Howe asks a very important question about our feelings toward President Trump
Big Al says: “As I mentioned earlier to OOTB Jerry, it would appear that our side is starting to look a bit stronger”!
Why would we abandon Trump? He’s doing what he said he would

By Gary Abernathy

SUSAN WALSH AP

President Donald Trump at Andrews Air Force Base on Friday, heading for a campaign-style rally in Pensacola, Fla.

HILLSBORO, OHIO

A year removed from our newspaper’s endorsement of Donald Trump for president, the most frequent question I get in emails and letters are from Trump critics asking whether I regret the endorsement.

I find it an odd question. It’s reflective of a similar theme often directed at Trump supporters in columns from many of our nation’s leading op-ed writers, especially after a presidential tweet-storm or inflammatory comment or action. “Will President Trump’s supporters finally desert him?” they ask.

Through the years, it became an accepted tenant of American politics that promises made and personas adopted by presidential candidates to win votes would be abandoned or ignored in the Oval Office. By contrast, the argument could easily be made that few presidential-level politicians have been as indistinguishable as Trump, the candidate, from Trump, the president.

Trump has remained as constant as the northern star. Has Trump really behaved in some new manner that wasn’t on full display during the campaign? The outrageous tweets, the bluster, the self-aggrandizement, the insults — Trump the commander in chief is virtually identical to Trump the neophyte candidate.

But in addition to consistently exhibiting what many see as negative attributes, Trump has also tried to keep his biggest campaign promises on repealing Obamacare, securing the border and cutting taxes, and he stayed true to his word with his pick of Neil Gorsuch for the Supreme Court. Now, his declaration of U.S. recognition of Jerusalem as Israel’s capital fulfills another pledge. No one who backed Trump as a candidate, with all his flaws, has been given much reason to abandon him.

Liberals seem to think the tax bill and other administration priorities will wake Trump country to the phony populism of its champion, but Trump’s voters always understood that business was going to benefit from having such an avowedly pro-business president. Really, the only supporters who might have cause for disillusionment are those who argued, or hoped, that once he assumed the presidency Trump would “pivot,” becoming “more presidential.” But that would probably be the one act that would cost Trump his base.

Among all of candidate Trump’s missteps and outrages, the one that was thought to most assuredly guarantee his demise was the infamous “Access Hollywood” tape and the ensuing allegations of numerous women claiming Trump sexually assaulted them. Those instances are the most frequently enumerated in the correspondence I receive suggesting the need for endorsement regret.

But apparently lost on many is that, in the 1990s, the left won the argument that these stories don’t matter, and that people’s private lives and …read more

Source:: The Korelin Economics Report

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US Senate Chairman presses nuclear regulators on uranium exports by US firm owned by Russia

By analyst

By Valentina Ruiz Leotaud

The chairman of the Senate Environment and Public Works Committee, John Barrasso, sent a letter today to the Energy Secretary, Rick Perry, and the Nuclear Regulatory Commission Chairwoman, Kristine Svinicki, informing them that he is expanding a 2010 investigation into the Obama administration’s approval of the sale of Uranium One’s uranium recovery facilities to the Russian state-owned firm Atomredmetzoloto, or ARMZ.

Barrasso asked Perry and Svinicki to explain how a Russian-owned mining company was able to ship American uranium to Canada, and through the northern neighbour to Europe and Asia, using a third-party export license. His allegations are based on a series of stories published by The Hill stating that the NRC approved a permit so that Uranium One could use RSB Logistic Services’ export license to move uranium outside American borders after it was purchased by the ARMZ subsidiary of the Russian state-owned nuclear firm Rosatom in 2010.

The Senator said such new revelations collide with assurances he was given years ago by the Nuclear Regulatory Commission that the firm’s uranium would stay inside the United States. “On March 21, 2011, former NRC Chairman Greg Jaczko responded to my letter on behalf of then-President Obama stating: ‘At this time, neither Uranium One Inc. nor ARMZ holds a specific NRC export license. In order to export uranium from the United States, Uranium One, Inc. or ARMZ would need to apply for and obtain a specific NRC license authorizing the export of uranium for use in reactor fuel’,” he wrote in Monday’s letter.

The Senate Environment and Public Works Committee has oversight jurisdiction over the NRC. Now Barrasso wants both agencies to submit all documents related to communications between the Obama administration and Russia regarding the sale of the U.S uranium firm in Wyoming -his home state-, along with any correspondence related to lawful international agreements between the countries on civilian uses of uranium for nuclear power.

The senator will use a hearing on Wednesday on the Nuclear Regulatory Commission’s budget and priorities to discuss his letter.

According to The Hill, Republicans have long raised questions about the Obama administration’s approval of Russia’s Uranium One purchase, both because of national security concerns and revelations that Bill Clinton collected personal speech money and charitable donations from parties interested in the sale while the issue was pending at his wife Hillary Clinton’s State Department.

However, the newspaper also states that Clinton and Obama officials have countered those worries by saying there were no national security concerns cited by any of the 10 federal agencies that approved the deal and that none of Uranium One’s uranium was exported.

The post US Senate Chairman presses nuclear regulators on uranium exports by US firm owned by Russia appeared first on MINING.com.

…read more

Source:: Infomine

The post US Senate Chairman presses nuclear regulators on uranium exports by US firm owned by Russia appeared first on Junior Mining Analyst.

Canadian junior to acquire five lithium projects

By analyst

By Valentina Ruiz Leotaud

Uranium explorer Azincourt Energy (TSX-V:AAZ) announced it has signed a non-binding Letter of Intent with New Age Metals (TSX.V:NAM) to acquire up to 100% interest in five lithium exploration projects located in the Winnipeg River Pegmatite Field, Manitoba, a province in the Canadian prairies.

The agreement covers the Lithium One, Lithium Two, Lithman West, Lithman East and Lithman North projects. According to Azincourt, the 6,000-hectare land package included in this agreement represents the largest mineral claim holdings of projects for the lithium group or type of minerals in the Bird River Greenstone Belt, which contains the Winnipeg River Pegmatite Field.

“This, along with our uranium exposure, separates us from a range of junior exploration companies out there and augurs well for our future and investment strategy, particularly now that the uranium market has also started to show signs of life,” said the company’s Energy Chairman, Ian Stalker, in a press release.

The Winnipeg River Pegmatite Field is host to numerous lithium-rich pegmatites in addition to the Tanco Pegmatite, a highly fractionated lithium-cesium-tantalum type pegmatite that has been mined at the Tanco Mine since 1969 for spodumene, tantalum, cesium, rubidium, and beryllium ores.

In the media statement, Azincourt revealed that the Lithium Two, Lithium One, and Lithman West projects are drill ready.

Lithium Two Project in Manitoba, Canada. Photo by New Age Metals

The Lithium Two historical estimate from drilling in 1947 -prior to the implementation of National Instrument 43-101 standards- defined 545,000 tonnes of 1.4% Li2O, drilled to a depth of 60 meters.

For the Lithium One project, field work in 2016 sampled pegmatitic granites and pegmatites which returned values from 0.00 to 4.33% Li2O.

Finally, the Lithman West project is said to show historical rock and soil geochemical anomalies but such anomalies have not been drill tested.

Stalker explained that the company’s decision to expand its focus to include lithium and other materials is part of its strategy to get a foothold and exposure in such environment. “The lithium market is obviously very strong right now, and the near-term future for lithium demand remains extremely positive,” he said.

The post Canadian junior to acquire five lithium projects appeared first on MINING.com.

…read more

Source:: Infomine

The post Canadian junior to acquire five lithium projects appeared first on Junior Mining Analyst.