Gold and silver prices both made moves this week, with gold passing US$2,400 per ounce once again and silver finally breaking through the important US$30 per ounce mark. It's the first time the white metal has been there since 2013, and the milestone has sparked speculation about just how high it could go in this cycle. Momentum kicked in on Wednesday (May 15) after the release of the latest US consumer price index (CPI) data. It shows inflation rose 3.4 percent year-on-year in April, the first time it's cooled in 2024. On a monthly basis it was up 0.3 percent. The US Federal Reserve's target ...
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The gold price has hit record levels in 2024, leaving investors wondering just how high it can go. During a recent webinar presented by the Mining Network, host Simon Catt, asset management director at Arlington Group, was joined by a group of industry veterans who gave their thoughts on where gold and silver may be going. The group was comprised of Eric Sprott, founder of Sprott Securities and Sprott Asset Management; Franco-Nevada (TSX:FNV,NYSE:FNV) founder and Chair Emeritus Pierre Lassonde; Ned Naylor-Leyland, gold and silver fund manager at Jupiter Asset Management; Luke Gromen, founder o...
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John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching. Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances. "We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more inter...
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Lancaster Resources (CSE:LCR,OTCQB:LANRF,FWB:6UF0) is gearing up to drill an exploration well at its Alkali Flat lithium brine project in New Mexico following the receipt of a technically complete letter from the New Mining and Minerals Division pertaining to its permit application. “Hopefully we can get started within the next 30 to 60 days,” said CEO Penny White. “Basically we'll be doing our exploratory well, which is really just a drill that will go down about 700 meters. And what we'll be able to do is explore that to really interesting targets that we've delineated through all of our exp...
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Crescent Point Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million. John Goff, chairman of the board at Crescent, said the deal will place the business i...
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Lucapa Diamond Company (ASX:LOM) has announced a strategic decision to divest its 70 percent stake in the Mothae mine in Lesotho as part of a broader plan to streamline its operations and focus on core assets. The Tuesday (May 15) decision comes after the release of the company's first quarter production and sales report at the end of April. In it, Lucapa outlines both achievements and challenges across its diamond operations. In Q1, the company’s Lulo mine in Angola sold 8,746 carats, generating US$9.4 million in revenue. While there were no exceptional diamond tenders during the quarter, a t...
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Google I/O 2024, Alphabet’s (NASDAQ:GOOGL) annual developer conference, was held on Tuesday (May 14) at the Shoreline Amphitheater in Mountain View, California. During the event, Google’s development team marked a new era in artificial intelligence (AI) by showcasing advances in Gemini, its AI assistant, along with other AI products and features across its portfolio. Read on to learn about five of the most important takeaways from the event. 1. Gemini advances keep comingI/O's keynote presentation centered on the advanced version of Gemini 1.5 Pro, which has a 1 million token context window. I...
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Tavi Costa, partner and portfolio manager at Crescat Capital, shared his thoughts on gold's recent price activity, outlining why he thinks the yellow metal will lead other commodities higher. He told the Investing News Network that silver and copper are set to benefit from its rise. "To me gold is sort of the first thing to really move, and the first box to check in terms of a secular market. But where you're really going to likely get those big returns is going to be on things that tend to move with gold. And as we see gold move, usually you tend to see other metals really leading the way to ...
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The US Bureau of Labor Statistics released its latest consumer price index (CPI) figures on Wednesday (May 15), showing that inflation cooled slightly in April, recording a year-over-year increase of 3.4 percent. That's down from March's 3.5 percent level and slightly closer to the US Federal Reserve's 2 percent target. On a monthly basis, inflation came in at 0.3 percent after stalling at 0.4 percent for the two previous months. At the start of the year, analysts believed inflation was cooling fast enough for the Fed to start making cuts as early as May; however, stagnating numbers later push...
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Anglo American (LSE:AAL,OTCQX:AAUKF) announced plans to divest its De Beers diamond business as it moves to restructure in the face of a takeover bid from rival miner BHP (ASX:BHP,LSE:BHP,NYSE:BHP). In a Tuesday (May 14) press release, the company said it wants to streamline its operations and focus on high-demand sectors such as copper, iron ore and crop nutrients, creating what it believes is a "future-enabling portfolio." The move comes after Anglo’s rejection of BHP’s US$38.8 billion bid in late April. If it had gone through, it would have been one of the resource industry's largest merger...
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