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Markets mixed ahead of US break

Posted by: Admin | Posted on: November 23rd, 2017 | 0 Comments

Both the SP/TSX Composite Index and the SP500 closed lower ahead of today’s Thanksgiving break in the US.

The latest minutes from the US Federal Reserve’s Federal Open Market Committee meeting have indicated the likelihood of a rate rise next month and the gold price rose as the US dollar weakened.

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Vic Gold sets the pace in Yukon

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It was a positive period for the majors, BHP (AU:BHP) was up 1.3%, Rio Tinto (LN:RIO) had closed up almost 1.7% and, in Toronto, Barrick Gold (CN:ABX) rose almost 1.6%.

One of the bigger movers in Australia today was St George Mining (AU:SGQ).

The explorer was up almost 49% on news it would escalate drilling to a 24/7 programme until Christmas at its Mt Alexander nickel-copper project in Western Australia, following recent “outstanding success”.

Meanwhile on the TSX Venture Exchange, Noble Metal Group (CN:NMG) rose 300% to C$0.02 (US$0.02) for no discernible reason, having last provided an update on its exploration efforts in August, when it said work had been hampered by fires, snow melts and mud slides.

Among commodities, iron ore reached its best close in two months at just over US$65 a tonne, copper reached $6,923/t and the beleaguered uranium spot price managed a slight gain of five cents to $20.20 per pound.

Article source: http://www.mining-journal.com/miningjournal/news/1309249/markets-mixed-ahead-us-break

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