Monday, September 17, 2018

Trump imposes tariffs on $200-billion worth of Chinese goods

Trump said on Monday he will impose 10% U.S. tariffs on $200 billion worth of Chinese imports. He warned that if China takes retaliatory action, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.” Collection of tariffs will start September 24. The rate will increase to 25% by the end of 2018.

Guyana Goldfields Inc - GUY.t

Guyana Goldfields Inc - GUY.t flagship is the Aurora Gold Project in Guyana which achieved first gold production in 2015.

2018 guidance is 175,000 – 185,000 ounces of gold at a cash cost of US$535-$585 per ounce (excluding royalty) with AISC of US$945-$995.

On September 6, 2018 the company released News

Guyana Goldfields Inc. has closed the sale of its 6.1-per-cent interest in SolGold PLC, the majority owner and operator of the Cascabel porphyry copper-gold project in Ecuador, for gross proceeds of approximately $35-million (U.S.). The company intends to use the proceeds from the sale for debt reduction and general corporate purposes.

Sunday, September 16, 2018

Gold-Silver Ratio highest in 27 years

The Gold-Silver Ratio has been thought of as a reliable technical ‘buy’ indicator for silver, whenever the ratio climbs above 80. The ratio represents the number of silver ounces it takes to buy a single ounce of gold. The gold-to-silver ratio has moved above 85. One needs to go back to 1991 for the last time it was higher than it is now.

In ancient times, the ratio was set at 12 to 1. In 1792, the ratio was fixed by law in the US at 15:1. The current ratio is high historically, 60% above the 20-year average.
Conventional wisdom suggests silver is undervalued relative to gold. The all time high for the gold-to-silver ratio occurred in February 1991, at the height of an economic recession. The current gold-to-silver spike is happening absent any major crisis, and as major stock indices hit new all-time highs. Experts are suggesting we may be approaching a correction in the US stock markets.

Saturday, September 8, 2018

Bombardier CS-300 engine trouble for Swiss International Airlines

A Swiss International Airlines Bombardier CSeries CS-300 from Stockholm to Zurich had been enroute and was in initial descent when the crew declared they needed to shut the left hand engine down due to low oil pressure. The same incident happened to AirBaltic on 5th August. Swiss International Air Lines was the launch customer for the CS-300.

Friday, September 7, 2018

Pretivm Resources Inc. - PVG.t

Pretivm Resources Inc. - PVG.t is advancing the flagship Brucejack project located 65 kilometers north of Stewart in northern British Columbia.

A feasibility study (*) has outlined Proven and Probable mineral reserves in the Valley of the Kings of 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams per tonne gold - * these numbers are being questioned)

On September 6, 2018 a short report from Viceroy Research was released.
On August 9, 2018 the co reported Numbers

Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report financial and operating results for the second quarter and first half of 2018.

Second Quarter 2018 Summary
  • Production of 111,340 ounces of gold.
  • Revenue of $146.5 million on 115,309 ounces of gold sold.
  • Total cost of sales $86.4 million or $749 per ounce of gold sold1.
  • AISC1 of $648 per ounce of gold sold.
  • Net earnings of $31.1 million ($0.17 per share).
  • Adjusted earnings1 of $47.0 million ($0.26 per share).
  • Cash and cash equivalents of $142.5 million as at June 30, 2018.
  • Achieved first half 2018 guidance with a total of 187,029 ounces of gold produced at an AISC of $783 per ounce of gold sold.

Wednesday, September 5, 2018

Nevsun Resources Ltd. - NSU.t

Nevsun Resources Ltd. - NSU.t operates the flagship Bisha Mine in Eritrea, East Africa. The Bisha deposit is a large, high-grade volcanogenic massive sulphide (VMS) producing Gold, Silver, Copper and Zinc.

Total reserves are about 22mt giving an expected mine life into 2025.

On September 5, 2018 the company released News

Nevsun Resources Ltd. and Zijin Mining Group Co. Ltd. have entered into a definitive agreement pursuant to which Zijin will make a takeover bid to acquire all of the issued and outstanding shares of Nevsun for $6 per share in cash. The offer is valued at $1.86-billion ($1.41-billion (U.S.)). The cash consideration of $6 per share represents a premium of 57 per cent over Nevsun's unaffected closing price of $3.82 on May 7, 2018, the day Lundin Mining Corp. first publicly announced its intention to acquire Nevsun.
On July 16, 2018 the company released News

Lundin Mining Corp. intends to make a formal offer to acquire all of the issued and outstanding common shares of Nevsun Resources Ltd. for cash consideration of $4.75 (Canadian) per share. The offer price represents a significant premium of 82 per cent to the closing price of $2.61 (Canadian) on Feb. 6, 2018, the date of the first offer to Nevsun related to Lundin's interest in acquiring Timok. This is a 33-per-cent premium to the closing price of $3.58 (Canadian) per share on the Toronto Stock Exchange as of April 30, 2018, the date of Lundin Mining's previously announced prior proposal to Nevsun, and a 40-per-cent premium to the volume weighted average trading price of $3.35 (Canadian) per share on the TSX over the 20 trading days ended April 30, 2018. The offer price values Nevsun at an equity value of approximately $1.4-billion (Canadian) ($1.1-billion USD).