Sunday, May 28, 2017

Barrick Gold hit by Tanzania ban on mineral concentrate

Canada’s Barrick Gold (TSX, NYSE:ABX), the world’s top bullion producer, has warned that up to 6% of it expected output for 2017 may be severely hit by a ban on mineral concentrate exports affecting its subsidiary Acacia Mining (LON:ACA), in Tanzania. The Toronto-based miner, which holds a 63.9% stake in Acacia, noted that if the subsidiary needed to revise its forecast for the current year, then Barrick would evaluate any necessary adjustments to its own 2017 outlook. Acacia, which spun off from Barrick in 2010, accounts for roughly 10% of the Canadian miner’s 2017 gold production guidance of 5.3-5.6 million ounces. Comments come on the heels of a report published Wednesday that claims Acacia has been under-reporting the amount of metal in its shipments to evade taxes.
The probe's results also led to President John Magufuli firing his mining minister and shutting the board of the mineral audit agency, which he accused of failing to supervise exports properly. Acacia, Tanzania’s largest miner was spun off from Barrick in 2010. The miner has three major gold mines in the country, which also produce copper.

Saturday, May 27, 2017

Alacer Gold Corp. - ASR.t

Alacer Gold Corp. - ASR.t flagship is the 80%-owned Çöpler Gold Mine in Turkey which commenced commercial gold production in April 2011.

During 2017, Çöpler is forecast to produce 160,000 to 180,000 ounces at Total Cash Costs of $500 to $550 per ounce.




On May 2, 2017 the company released Numbers

(“Alacer” or the “Corporation”) [TSX: ASR and ASX: AQG] announced today that it has filed its 2017 first quarter operating and financial results and related management’s discussion and analysis (“MD&A”). The corresponding financial statements and MD&A are available on www.AlacerGold.com and on www.SEDAR.com. All currencies referenced herein are denominated in USD unless otherwise stated.

Rod Antal, Alacer’s President and Chief Executive Officer, stated, “Çöpler produced 33,000 ounces this quarter in line with our 2017 guidance. Receipt of the pasture permit in early April allowed us to start mining the highergrade West Pit and re-confirms our 2017 production guidance of 160,000 to 180,000 ounces. With the pasture permit in hand, we expect to produce between 35-40% of our total production in the first half of the year.










http://canadastockjournal.blogspot.com/2016/03/alacer-gold-corp-asrt.html

Friday, May 26, 2017

Top Silver Producers

Silver futures prices moved to $17.38 an ounce as the metal continues to claw back territory lost earlier this month.

Silver is now up 8% since hitting its 2017 low on May 9th. Only around 30% of annual supply comes from primary silver mines while more than 30% is produced at lead/zinc mines operations and a further 20% from copper mines. Only 6 of the top 20 producers are primary silver miners.

Last year 885.8 million ounces were mined.

Wednesday, May 24, 2017

Top Private Jewel Collections at Auction


A 32.08-carat Burmese ruby and diamond ring by Chaumet sold for $4.62m. The ring came up for auction again in 2012 and made $6,736,750.
Jewels of Luz Milo Patiño, Countess du Boisrouvray – $31.2m. The collection included rubies, diamonds, pearls, emeralds and sapphires of the finest cuts and quality, as well as her other inherited family possessions, ranging from pre-Columbian gold artifacts to antique furniture, silver, Faberge carved animals, tableware and artwork.
The jewels sold in 1989, making an auction record at the time.

“The Gulf Pearl Parure”, a natural pearl and diamond parure by Harry Winston sold for $4,189,165
The Royal House Sale – $31.3m. A collection of the finest jewelry and watches totaling 317 lots were sold in 2006 from an anonymous royal house, including a selection of natural pearls and diamonds pieces created by the world’s major jewelers.
The collection of Mrs. Lily Safra: $37.9m. A Brazilian philanthropist who amassed a fortune through 4 marriages hosted an auction of 70 pieces from her personal jewelry collection for charity in May 2012. Highlights included a ruby Camellia brooch by JAR, which sold for $4.3m and a tourmaline and diamond flower brooch by JAR, which brought $ 1.2m.

32.08 carat cushion-shaped Burmese ruby, 34.05 carat rectangular-cut diamond, 31.21 carat rectangular-cut Burmese sapphire by Boucheron.

Cartier Paris, 1949. Platinum, white gold; Single-cut diamonds; two pear-shaped yellow diamonds, one 152.35-carat Kashmir sapphire cabochon.
The Jewels of the Duchess of Windsor – $50.3 million. The sale of the jewels of the Duchess of Windsor in 1987 at Sotheby’s set numerous auction records. An international celebrity and fashion icon, the Duchess had famously lured King Edward of England away from his throne in favor of marrying her. Through their 35-year marriage, the Duke showered his wife with custom made jewels from the world’s major jewelry houses.
Elizabeth Taylor amassed a collection of jewels unlike anything the world had ever seen. The collection sold at Christies in New York in late 2011 for $137,235,575. The jewelry included spectacular pieces by Bvlgari, David Webb, Cartier, Van Cleef & Arpels and many pieces by JAR.

The headliner was La Peregrina, a 16th century pear necklace which sold for $11,842,500.

Elizabeth Taylor (February 27, 1932 – March 23, 2011) was married eight times to seven husbands. When asked why she married so often, she replied, "I don't know, honey. It sure beats the hell out of me," but then added, "I was taught by my parents that if you fall in love, if you want to have a love affair, you get married. I guess I'm very old-fashioned."

The Elizabeth Taylor Diamond is a 33.19-carat Asscher-cut D color potentially flawless diamond set on a ring that Taylor wore nearly everyday.

It sold for $8.8 million, well above its $2.5 million to $3.5 million estimate.
The BVLGARI Emerald Suite, a suite of emerald and diamond jewelry brought a total of $24,799,000. It was acquired between 1962 and 1967.
The BVLGARI Sapphire Sautoir, set with a sugarloaf cabochon sapphire of 52.72 carats sold for $5,906,500.

This bold Art Deco style sautoir was a gift from Richard Burton for Elizabeth Taylor’s 40th birthday in 1972.
The Taj Mahal Diamond, on a gold and ruby chain, by Cartier realized $8,818,500, setting a world auction record for an Indian jewel.

Inscribed with the name Nur Jahan, the wife of the Mughal Emperor Shah Jahangir, this heart-shaped diamond is believed to have been a gift from the ruler to his son, who became the great emperor Shah Jahan (1592-1666).
The Cartier Ruby Suite, a suite of ruby and diamond jewelry realized a total of $5,403,500.

Comprising a necklace, bracelet and earrings, Elizabeth Taylor’s husband, the film producer Mike Todd, presented her with a trio of Cartier boxes in August 1957.
The Richard Burton Ruby and Diamond Ring, of 8.24 carats, by Van Cleef & Arpels, was a gift from Richard Burton, Christmas 1968.

This ring achieved $4,226,500 setting a record for a ruby per carat ($512,925).

The Night of the Iguana Brooch, by Tiffany & Co. sold for $1,202,500.