News Archives

: Category: News Archives; Created: 11 August 2021; Hits: 407

Gold futures finished sharply higher Wednesday, marking the first back-to-back advance for the commodity in about a month and the sharpest daily rise in two weeks, after investors parsed a reading on U.S. inflation that mostly matched expectations. December gold added $21.60, or 1.2%, to settle at $1,753.30 an ounce, following a 0.3% gain on Tuesday.

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: Category: News Archives; Created: 11 August 2021; Hits: 466

August 11, 21 by John Jeffay

(IDEX Online) - A major underground expansion at the Karowe mine, in Botswana, is forecast to contribute $4bn in extra revenue, says Canadian miner Lucara.

The total cost of the project is $534m, fully financed by a $220m senior debt facilities package, $33m of equity financing and projected cash flows from current drill and blast open pit operation.

The underground project is expected to prolong the life of the mine until at least 2040. Open pit operations will cease.

In January the government of Botswana extended Lucara's mining license for another 25 years.

Lucara, known for its large and exceptional quality Type IIa diamonds, says the first ore is expected in 2026.

The company's CEO Eira Thomas said in a project update: "Lucara has made tremendous progress on the Karowe underground expansion project over the last eighteen months, despite the challenges imposed by the global pandemic.

"The project comes at a time when the outlook for the diamond market is stronger than it has been for many years representing an exciting growth opportunity for our shareholders and stakeholders in Botswana."

Pic shows Karowe mine at night, courtesy Lucara...

Read more from our friends at IDEX

: Category: News Archives; Created: 11 August 2021; Hits: 500

Gold and silver prices are taking it on the chin. They’re bucking seasonal trends. They haven’t been responding to catalysts that would normally push them higher. They’re one of the worst performing asset classes this quarter and year. So are we wrong? Is it time to pack it in? There are a myriad of ways to answer that, the biggest of which is Mike’s core reason why we’re not wrong about where they’re headed.

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: Category: News Archives; Created: 10 August 2021; Hits: 576

In the year 1202 in the town of Albi in southern France, the local market price for a measure of wheat was 34 grams of silver. Decades later in the year 1290, the price of wheat was exactly the same…

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: Category: News Archives; Created: 10 August 2021; Hits: 416

Late on Sunday night, $4 billion worth of gold was dumped onto the market during thinly traded hours. This caused the latest in a long line of ‘flash crashes’ for the gold and silver price. How is this allowed to happen, and where to from here? Join Mike Maloney and Adam Taggart to get their thoughts.

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Diamond News Archives

Gold Futures Rise 1.2% To Mark First Back-to-Back Gain of August: MW

Karowe Underground Project will add $4bn to Lucara Revenue

This “Chartorial” Says You’re Not Wrong about Silver & Gold

Once Upon a Time… 1% Inflation Was a Major Emergency

Gold & Silver Smashed - Where To From Here?