SMIGGLE SLIME Review

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Newmont Completes US$69-million Northwest Exodus Expansion

Gold miner Newmont Mining (NYSE:NEM) has completed a US$ 69-million expansion at its Exodus operation, extending the mine life of its Carlin mining operation in Nevada by ten years, the company announced on Tuesday (July 17).

The expansion, which was the company’s second in the last month, was completed both ahead of schedule and within budget and will add between 50,000 ounces a year and 75,000 ounces a year of gold production. The expansion will also lower Carlin’s all-in sustaining costs by about US$ 25 per ounce in its first five years of operation.

“Northwest Exodus leverages fit-for-purpose technologies, existing infrastructure and higher-grade ore to lower costs, extend mine life and deliver an internal rate of return of more than 40 percent,” said Tom Palmer, EVP and COO.

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“As our newest expansion, Northwest Exodus demonstrates Newmont’s commitment to investing prudently in viable technologies that enhance safety and generate long-term value for our stakeholders,he added.

According to Newmont, the project was designed to support autonomous operations and is currently running two autonomous mobile loaders while pilot-testing autonomous drills to both access and recover ore.

“The operation is also fitted with reliable, high-bandwidth underground Wi-Fi to connect people, systems and equipment,” the company said in a press release.

“Over the last five years, Newmont has built eight new mines and expansions on four continents, including Akyem and the Phoenix Copper Leach in 2013, Merian and Long Canyon in 2016, Tanami in 2017, and Twin Underground in 2018,” the company added.

Newmont Mining also completed a value-accretive acquisition of Cripple Creek and Victor in 2015 and delivered a profitable expansion at the mine in 2016.

As of 11:10 a.m. EST on Wednesday (July 18), Newmont was trading at US$ 37.10.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.  

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Fed Chairman on Crypto: “Not Real Currencies; Lack Intrinsic Value”

Fed chairman on crypto

Yesterday, bulls charged the crypto market, which caused Bitcoin to add $ 9B to its market capitalization in less than thirty minutes. But the Fed chairman on crypto is swinging the opposite way.

Today, we’ve seen a few bears emerge from the forest. Specifically, the head of the Federal Reserve spoke on cryptocurrencies today, providing comments that indicate he is bearish on virtual currencies. 

Fed Chairman on Crypto: A Risky Investment 

On Wednesday, Jerome Powell, the head of the Federal Reserve, which is the US’s central banking system, spoke with members of Congress. During the …

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Stock Market Investor “Buy the Dip” Mentality is Still Strong, Which is Bullish for Stocks

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62728.html
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PUF Ventures Provides Update Regarding the Business of Natures Hemp Corp.

PUF Ventures Inc. (“PUF” or the “Company”) (CSE:PUF) (Frankfurt:PU3) (OTCPK:PUFXF), an advanced Access to Cannabis for Medical Purposes Regulations (“ACMPR”) license applicant, is pleased to provide an update on the business of its subsidiary Natures Hemp Corp. (“Natures Hemp”).

Natures Hemp, a biotechnology and consumer products company focused on unlocking the true value of the hemp for both B2B and B2C markets, and Cannvas MedTech Inc. (“Cannvas”), a leading business technology company within the cannabis space, are pleased to announce the signing of a letter of intent  (the “LOI”), to negotiate in good faith a data analytics agreement, for which Cannvas will provide industry insight and analytical modelling capabilities to Natures Hemp business models and Key Performance Indicators (KPIs).

“As we work to complete the plan of arrangement with Natures Hemp, it continues to make strides to become a leading biotechnology and consumer products company,” said Derek Ivany, President and CEO, of PUF Ventures. “It is currently working with the University of Manitoba to develop proprietary an organic hemp-based milk which contains no sugar and no cholesterol, is free of soy and gluten and is an abundant source of vital nutrients. The recent letter of intent between Natures Hemp and Cannvas could lead to an agreement and provide valuable market data and analytics to Natures Hemp as it looks to introduce new and exciting hemp-based products. I am very pleased that the two PUF spin-out companies are working together to create shareholder value.”

Under the terms of the LOI, Cannvas will develop specific parameters within its existing Cannvas Data framework to collect data and analytics from Natures Hemp and their strategic partnerships, and Natures Hemp is expected to gain access to a broad data set as they press forward in the hemp sector and becomes a stand-alone public company. It is expected that the LOI and a subsequent agreement will allow Natures Hemp to bring the right products to market at the right time and to the right individuals, and will maximize Natures Hemp customer conversion funnel.

Cannvas Data is the analytics branch of Cannvas MedTech. Its mission is to collect data from various credible sources to enhance user personal data algorithms for Cannvas.me. Cannvas Data is expected to leverage existing databases, site traffic and advanced technology for marketing purposes, and is expected to leverage its comprehensive solution for the global hemp community. Cannvas and Natures Hemp have agreed to a discovery period whereby the technological specifications of the connectivity will be setup by Cannvas Data. Cannvas and Natures Hemp will work together towards a definitive partnership agreement within the next 45 days.

About Natures Hemp Corp.

Natures Hemp is a biotechnology and consumer products company focused on unlocking the true value of hemp and developing a new generation of plant-based, nutrient rich cannabidiol (CBD) food, beverage and healthcare related products. It is establishing its own farms to produce high quality organic hemp plants and using a proprietary extraction technology to produce legal hemp fibers and CBD extract. It is also launching a premium brand of quality CBD products with an emphasis on health and wellness.  Currently. Natures Hemp is a subsidiary of PUF.  Pursuant to the previously announced plan of arrangement between Natures Hemp and PUF, if the plan of arrangement is approved by the shareholders of PUF and the court, it is expected that Natures Hemp will become a reporting issuer.

About Cannvas MedTech Inc.

Cannvas MedTech is a leading business technology company within the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.

About PUF Ventures Inc.

PUF Ventures Inc. is a growth oriented and diversified company focused on the international cannabis industry. It has ownership in several cannabis companies: AAA Heidelberg, Solaris Nutraceuticals Pty Ltd., and Natures Hemp Corp., and is actively pursuing other opportunities within the industry. PUF has an option to purchase 100% of AAA Heidelberg Inc., an advanced applicant for an ACMPR license. Solaris Nutraceuticals is building the largest medical cannabis greenhouse in the Southern Hemisphere. For more information please visit: www.puf.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Derek Ivany
President & CEO

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

SOURCE PUF Ventures

For further information: PUF Ventures Inc., E: ir@puf.ca, T: (800) 783-6056

Click here to connect with PUF Ventures Inc. (CSE:PUF) (Frankfurt:PU3) (OTCPK:PUFXF) for an Investor Presentation.

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Will the Fed’s Interest Rate Tightening Trigger Another Financial Crisis?

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62729.html
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Medallion Resources Announces $100,000 Private Placement

Medallion Resources Ltd. (TSXV:MDL; OTCPK:MLLOF; Frankfurt:MRDN) – (“Medallion” or the “Company”), pusuing smart production of magnet metals, today announces that it has arranged, with a single high net worth investor, a non-brokered private placement (the “Private Placement”) of 1,000,000 units (each a “Unit”) at a purchase price of $ 0.10 per Unit for gross proceeds of $ 100,000. The Private Placement is expected to close within a few days. Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one transferable Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one additional Common Share at an exercise price of $ 0.15 per Warrant for a period of 36 months following the closing of the Private Placement (the “Closing Date”).

The proceeds of the Private Placement will be used to further the metallurgical test program that Medallion has undertaken with the Saskatchewan Research Council; customer and monazite feedstock supply development work; jurisdiction and site analysis for the Company’s proposed rare-earth extraction plant; and working capital. The completion of the Private Placement is subject to the acceptance of the TSX-V.

All securities issued in connection with the Private Placement will be subject to a four-month hold period from the Closing Date, pursuant to applicable securities laws and the policies of the TSX-V. The securities issued in connection with the Private Placement have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale, or solicitation would be unlawful.

About Medallion Resources

Medallion Resources is developing an approach for low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. More about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact: Donald Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com

– END –

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Medallion management takes full responsibility for content and has prepared this news release. Some of the statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to the completion and the use of the proceeds of the Private Placement. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

Click here to connect with Medallion Resources Ltd. (TSXV:MDL; OTCPK:MLLOF; Frankfurt:MRDN) for an Investor Presentation.

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Crypto Bull Run: Wells Fargo and Bank of America Patents Push Market Upwards

crypto bull run

The cryptocurrency market is booming this morning after a slew of crypto-positive announcements have hit the media. Is a crypto bull run upon us?

Bitcoin (BTC) is eyeing the $ 7,500 mark, and Ethereum is just under $ 500. Stellar (XLM) and Cardano (ADA) are leading the market today as both coins are seeing over 20% price gains.

Mastercard, Bank of America, and Wells Fargo all announced this morning that they are pursuing new blockchain-related patents. This very well could be the reason why investors are buying into crypto this morning.

Wells Fargo Tokenization System …

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Cayton Bay Hoseasons Caravan Park Holiday Summer 2018 Review

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62723.html
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Silver dollar hoard slabbed by NGC

A hoard of 16,000 pristine Morgan silver dollars stored in a New York City bank vault since 1964 have been graded by the Numismatic Guaranty Corporation.

That fact alone is amazing.

But even more compelling is the fact collectors will soon have an opportunity to buy these silver dollars from major retailers.

“Every collector dreams about having the opportunity to examine unsearched and fully original bags of vintage coins,” said Mark Salzberg, NGC chairman and Grading Finalizer.

“This was an incredible thrill for me,” he added.

The hoard dates back to the U.S. Treasury release 54 years ago.

Sixteen bags of the coins went from the Treasury to a New York bank in 1964.

The unnamed heir to the coins called in Jeff Garrett, president of Mid-American Rare Coin Galleries and former president of the American Numismatic Association.

Garrett, his son Ben, and Salzburg made up a trio of experts to evaluate the hoard.

What they found were 16 1,000-coin solid-date canvas bags of uncirculated coins.

There was one bag of 1878-S dollars, two bags of 1880-S, one 1881-S, one 1883-O, one 1884-O, one 1885, two 1885-O, one 1886, four bags 1887, one bag 1888 and one bag 1889.

As might be expected, NGC found a number of amazing individual coins.

The firm reports:

• 28 1880-S Morgan dollars graded NGC MS-67

• Four 1885 Morgan dollars graded NGC MS-67

• Four 1885-O Morgan dollars graded NGC MS-67

• 82 1887 Morgan dollars graded NGC MS-67

• One 1884-O Morgan dollar graded NGC MS-66+ Star.

NGC said the New York Bank Hoard coins were encapsulated with a special NGC certification label.

The coins in this hoard will be listed separately in the online NGC Census, which identifies the NGC-certified population for each issue and grade.

If this information makes you an eager potential buyer, you shouldn’t have long to wait.

“Now that the hoard has been certified and pedigreed by NGC – and protected by NGC’s secure holder – the coins can be enjoyed by countless other collectors,” Jeff Garrett promised.

Get your checkbooks ready.

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017 . He is editor of the weekly newspaper “Numismatic News.”

 

Buzz – Numismatic News

AMSC Announces New Orders Valued at US$11 Million

AMSC (NASDAQ:AMSC), a global energy solutions provider serving wind and power grid industry leaders announced five new orders valued over US$ 11 million.

The company said that the new orders were for D-Var Statcom system with three of the orders serve the renewable connectivity sector and are expected to be used to connect wind power plants to the electric grid. Further, AMSC said that two of these orders are expected to be used for industrial power quality applications.

As quoted in the press release:

“The team continues to drive momentum in demand for our Grid products,” said Daniel P. McGahn, President and CEO, AMSC. “Our recent wins in the global renewable energy and industrial markets provide a solid foundation for what we believe will be another year of growth in our Grid business in fiscal 2018. I believe the momentum we have achieved in the D-VAR market is a result of the hard work and dedication of  individuals here at AMSC.”

Customers utilize AMSC’s D-VAR solutions to provide dynamic voltage control, power factor correction, and reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. The D-VAR system is designed to be able to detect and instantaneously compensate for voltage disturbances by dynamically injecting leading or lagging reactive power into the power grid.

These solutions are designed to augment the overall performance of wind farms and to enable developers to meet grid interconnection requirements. The system is a powerful, cost-effective way to provide continuous voltage regulation, improve voltage stability, meet interconnection requirements, and dynamically provide grid support where it is needed.

D-VAR reactive compensation systems are classified as Static Compensators, or “STATCOMs,” a member of the FACTS (Flexible AC-Transmission System) family of power electronic solutions for alternating current (AC) power grids.

Click here for the full text release.

Clean Tech Market Report – 2018

 

Find out how the clean energy market will be affected in 2018

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Trump or Putin – who is the Master in the Art of the Deal?

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Orvana Reveals Q3 2018 Production Results

Orvana Minerals Corp. (TSX:ORV) provided production results for its Spanish and Bolivian operations for the third quarter of fiscal 2018, featuring consolidated gold production of 26,761 ounces, an 8 percent increase in production compared to the previous quarter.

Highlights are as follows:

Q3 2018 Highlights

  • El Valle Mine (Spain):
    • Gold production  increased by 11 percent compared to Q2 2018;
    • Gold grade remained steady at 3.36 grams per tonne from previous quarter;
  • Don Mario Mine (Bolivia):
    • Completed first full quarter of production from Cerro Felix satellite deposit, achieving gold production of 9,916 ounces and gold recovery of 92.4 percent;
  • Consolidated Results:
    • Exceeded high end of FY 2018 copper production guidance; and
    • Continued increased gold production quarter-over-quarter during FY 2018

      Production Highlights – El Valle Mine

      • Gold production at El Valle underground operations was 16,845 ounces, an increase of 11 percent compared to 15,139 ounces of gold produced in Q2 2018;
      • Copper production was 1.6 million pounds, compared to 1.4 million pounds in Q2 2018, an increase of 15 percent;
      • Ore throughput in the mill was 169,958 dmt comprised of 39 percent oxide ore, an increase of 13 percent, compared to 150,966 dmt in Q2 2018;
      • Mechanical advance rates in the oxides mining zones increased by 24 percent compared to Q2 2018, yielding 1,919 meters of development in Q3 2018. The increased rates continue to position the mine to deliver the requisite oxide ore tonnage for the mill.


      Production Highlights – Don Mario Mine

      • Gold production at the Don Mario open pit operations, was 9,916 ounces, an increase of 3 percent compared to 9,649 ounces in Q2 2018. Ore production was impacted by low grades in the upper level of Cerro Felix.  Higher grades are expected as the lower pit areas are mined in the next quarter;
      • Gold grade of 1.90 grams per tonne was 3 percent higher than 1.84 grams per tonne in Q2 2018;
      • There was no copper production in Q3 2018 as the flotation circuit was shut down at the end of previous quarter.

Juan Gavidia, CEO, commented:

At El Valle, quarterly production continues to consistently increase as a result of our successful strategy of deploying a higher oxide ore mix process in the mill, supported by the ongoing ramp-up of mechanical advance. Gold production at Don Mario was impacted by low grades in the upper level of Cerro Felix, higher gold grades are expected as mining moves to the lower levels of the pit.

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Stellar (XLM) & Cardano (ADA) Lead the Crypto Market – Project Updates & Big Gains

Stellar(XLM) Cardano(ADA)

Stellar (XLM) & Cardano (ADA) – The total cryptocurrency market is booming this morning, as various crypto-positive news reports have given investors more confidence in the future of the cryptocurrency industry and market.

Source: CoinMarketCap

Wells Fargo and Bank of America announced this morning that both banks have applied for new blockchain and crypto related patents. Mastercard has even filed a new patent for consumer protection and payment transactions, using blockchain technology.

Due to all this crypto-positive news, mostly all coins in the top 100 are in the green, and …

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Stock Market Longer-Term Charts Show Incredible Potential

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Lundin Goes Solo: Makes New Move on Nevsun

Lundin Mining (TSX:LUN) has announced it plans to make another offer for Nevsun Resources (TSX:NSU). The C$ 4.75-per-share offer values Nevsun at C$ 1.4 billion.

The new offer, made on Monday (July 16), comes after a previous offer involving both Lundin and Euro Sun Mining (TSX:ESM) fell through.

The new offer is below the original, which valued Nevsun at C$ 1.5 billion. This time Lundin is going it alone, forgoing involvement with Euro Sun, which Nevsun had derided by calling the company an unattractive partner.

In its release, Lundin says it “intends to make a formal offer to acquire all of the issued and outstanding common shares of Nevsun,” but notes that no formal offer has yet been made.

Nevsun’s response on Tuesday (July 17) was again to pour cold water on any speculation or excitement over the offer, with the company advising shareholders to take no action.

Speaking at the Sprott Natural Resource Symposium in Vancouver, Nevsun CEO Peter Kukielski reflected on the attention. “It’s becoming very clear to me that when you’re a great little company like Nevsun is, everyone wants to own you.”

But in his company’s release it was all business. “This latest announcement from Lundin continues to ignore the fundamental value of Nevsun and its assets,” he said.

“Despite the progress we have made in enhancing Nevsun’s value, Lundin’s notional takeover offer represents only a 13 percent premium to Nevsun’s closing trading price of C$ 4.21 per share on the TSX on July 16, 2018, and only a 9.1 percent premium to the volume weighted average trading price of Nevsun’s shares over the 30 days ended July 16, 2018,” he added.

In Vancouver, Kukielski emphasized that Nevsun has substantially added value to its two assets in Serbia and Eritrea in the time since Lundin’s previous joint offer in May, making Nevsun far more attractive to buyers beyond Lundin.

The fall of the offer price from C$ 5 to C$ 4.75 was certainly not lost on Kukielski. “Lundin’s number is going in the wrong direction,” he quipped.

Lundin has a different take on premiums though, harking back to prices before and after the original discussions between the companies in early 2018.

“The Offer Price represents a significant premium of 82 percent to the closing price of C$ 2.61 on February 6, 2018, the date of the first offer to Nevsun related to our interest in acquiring Timok,” Lundin says in its release.

“This is a 33 percent premium to the closing price of C$ 3.58 per Share on the TSX as of April 30, 2018, the date of Lundin Mining’s previously announced prior proposal to Nevsun,” it also states.

Paul Conibear, CEO of Lundin, commented, “following our attempts to constructively engage Nevsun since early February 2018, after having made a series of proposals and observing significant recent changes in the political landscape related to Eritrea, we have determined that the best course now is to make an all cash offer directly to Nevsun shareholders.

He added, “[o]ur offer will represent the clearest path for Lundin Mining to acquire the Timok project and for Nevsun shareholders to realize on the value of their investment without dilution and financing risk.”

Conibear even seemed to go so far as to allude that Lundin’s first offer was behind Nevsun’s increase in value since. “We believe that the proposed Nevsun acquisition consideration is full and fair value and represents a significant premium to Nevsun’s unaffected share price prior to the announcement of our first proposal,” he explained.

Lundin said that it intends to make a formal offer “on or about July 27.”

Kukielski and Nevsun said that if such an offer eventuates, shareholders will have 105 days to respond. They added that “Nevsun reminds shareholders that Lundin has previously made highly conditional confidential non-binding offers to Nevsun but has never presented a binding offer to Nevsun or its shareholders.”

Nevsun was trading at C$ 4.79 on the TSX at the time of writing (11:30 a.m. PST), up 13.78 percent on its previous close. Lundin was up by 1.07 percent at C$ 7.56.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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New Stablecoin Stronghold Has IBM Support

Stablecoin

Fintech startup Stronghold has created a new stablecoin token dubbed the ‘Stronghold USD’ and it has received support from IBM. The token is launched on the Stellar network.

Stronghold is the first ever stablecoin to use the Stellar network and is reportedly backed by the US dollar at a 1:1 price ratio.

IBM and Stellar

IBM has been using the Stellar network since 2017 for cross-border payments and has now adopted the new stablecoin to enhance this process.

According to IBM’s senior vice president of global industries, platforms, and blockchain, Bridget van …

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A Better Yield Curve for Predicting the Stock Market is Bullish

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62726.html
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First Majestic Silver Sets Production Record in Q2

First Majestic Silver (TSX:FR,NYSE:AG) set a record in Q2, with total production from its seven operating silver mines reaching 5.1 million silver equivalent ounces, the company announced on Monday (July 16).

Total production for the period consisted of 2.8 million ounces of silver, 25,449 ounces of gold, 3.9 million pounds of lead and 1.4 million pounds of zinc.

The company has increased its 2018 annual silver production guidance from 10.6 to 11.8 million ounces to 12 to 13.2 million ounces, primarily due to the addition of the Mexico-based San Dimas silver-gold mine, which it acquired this past May.


During the quarter, the integration of the newly acquired San Dimas mine into our Mexican portfolio was our primary focus,” said Keith Neumeyer, president and CEO of First Majestic.

“The world-class San Dimas operation, which contributed only seven weeks of production in the second quarter, propelled the company to a new quarterly production record of 5.1 million silver equivalent ounces and has become our cornerstone asset,” he added.

Neumeyer continued,  “under the new streaming agreement, we are going back to mine numerous high-grade silver veins that were previously deemed uneconomic by the previous operator. In 2018, all-in sustaining costs at San Dimas are projected to be between US$ 6.99 to US$ 8.19 per ounce, making it our lowest cost and our largest producing mine.”

During Q2, First Majestic processed 851,349 tonnes of ore at its seven operating silver mines: San Dimas, Santa Elena, La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra. That represents a 5-percent increase compared to the previous quarter.

Consolidated silver grades averaged 127 g/t in comparison to the 111 g/t recovered in Q1. The company reported that the 14-percent increase in silver grades was mainly the result of the addition of seven weeks of production from San Dimas.   

Meanwhile, consolidated silver recoveries averaged 79 percent, up 6 percent from the previous quarter.

First Majestic’s underground development in the second quarter consisted of 17,838 meters, which was a 20-percent increase compared to the 14,914 meters completed in the last quarter.

Approximately 29 diamond drill rigs were active across all of the company’s properties during Q2. In total, 298 drill holes were completed for 73,899 meters on the seven producing assets, as well as the Plomosas silver project, resulting in a 65-percent increase in drilled meters compared to Q1.

Looking forward, the company said in the short term it will focus on reducing underground dilution and implementing mill automation processes, including the installation of high-intensity grinding technologies in order to increase efficiencies and reduce production costs.

Delivery and installation of the high-intensity grinding mills at Santa Elena and San Dimas are planned for October and November, respectively.

First Majestic expects further improvements in recoveries with the anticipated installation of microbubble flotation columns at La Parrilla during Q3 2018, followed by Del Toro in 2019.

Neumeyer also discussed the new roaster at La Encantada, stating, “[a]t La Encantada, the construction of the new roaster is in its final stages. Commissioning and start up procedures are expected to begin in late August before ramping up to commercial production by the end of the year. These are exciting times for the company, our employees and our stakeholders.”

As of 2:46 p.m. EST on Tuesday (July 17), First Majestic was trading at US$ 9.15.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.

The post First Majestic Silver Sets Production Record in Q2 appeared first on Investing News Network.

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