Are Gold And Silver Going To Follow A Rebound In Asian Stocks? – Audio

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63172.html
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Kontrol Energy Completes Acquisition of CEM Specialties Inc.

Kontrol Energy Corp. (CSE:KNR, FSE:1K8), (“Kontrol”, or the “Company”) announces that it has completed the acquisition of CEM Specialties Inc. (“CEMSI”), previously announced on March 28, 2018 when the Company entered into a Letter of Intent with CEMSI.  CEMSI is an established and leading integrator of turn-key emission monitoring equipment and solutions.

With more than 25 years of successful operating history, CEMSI provides the Canadian and US market with value added solutions for emissions and process monitoring applications.  For the fiscal year ending July 31, 2018 CEMSI generated revenues of $ 6 Million and EBITDA of approximately $ 1 Million.  A significant portion of CEMSI’s annual revenue is from multi-year recurring contracts and equipment sales.

“CEMSI is a leader and recognized brand in the emission monitoring and integration market,” says Paul Ghezzi, CEO of Kontrol Energy. “We are excited about the closing of this acquisition as it is a strong strategic fit with our existing emission business. Expanding our emission monitoring and solutions vertical in Canada and gaining a growing footprint in the USA is part of our overall strategic growth initiatives.”

According to the market research report Emission Monitoring Systems Market by System Type Global Forecast to 2025, the emission monitoring systems market is estimated to reach US $ 4.44 Billion by 2025 from US $ 2.39 Billion in 2018, at a CAGR of 9.3% between 2018 and 2025.

The aggregate purchase price for CEMSI is $ 3,350,000, of which the Company has paid $ 2,265,000 in cash on closing. There is a Vendor Take Back in amount of $ 502,500, representing 15% of the Purchase Price.  The Vendor Take Back shall accrue interest at a rate of six percent (6%) per annum. An additional $ 582,500 of the purchase price is subject to a 15-month holdback to accommodate post-closing purchase price adjustment and indemnity obligations of the Vendor. The Vendor has received 250,000 Common Share purchase Warrants.  Each Warrant is exercisable for one Common Share of the Company at a price of $ 0.75 per share for 3 years following the date of issue, subject to accelerated expiry in certain circumstances.

In conjunction with the acquisition, the Company has closed on a $ 2 Million secured loan with Pinnacle Diversified Private Income Limited Partnership, by its general partner Pinnacle Diversified Private Income GP Inc., and FirePower Capital. The loan has a term of 12 months. It is anticipated that the loan will be replaced by long-term senior secured debt and equity financing over the next 12 months. The lenders have received 750,000 Common Share purchase Warrants in aggregate. Each Warrant is exercisable for one Common Share of the Company at a price of $ 0.75 per share for 4 years following the date of issue, subject to accelerated expiry in certain circumstances.

“On a consolidated basis the acquisition will add approximately $ 6 Million to our year over year revenue growth,” continues Mr. Ghezzi. “Further, the acquisition will add to our earnings and operational cash flow generation starting in Q3 2018.  We have been able to achieve significant year over year revenue growth while maintaining less than 27 Million shares outstanding.  We are keenly focussed on continuing our strong growth trajectory and maximizing shareholder value.”

About Kontrol Energy

Kontrol Energy Corp. (CSE:KNR, FSE: 1K8) is a leader in energy efficiency through IOT, cloud and blockchain technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.

Kontrol Energy was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean’s.

Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com

About Pinnacle

The investment objectives of Pinnacle Private Diversified Private Income Limited Partnership are to invest in a diversified portfolio of private debt and/or equity securities of issuers involving investments and loans, consistent and reliable cash flows capable of supporting a monthly target cash distribution of 5.5% to 9.0% per annum, after fees and expenses, plus potential additional annual performance distributions. https://www.pinnaclefunds.ca

About FirePower Capital

FirePower Capital is the investment banking and private capital firm built for Canada’s entrepreneurs. Our team of 30+ deal professionals helps their mid-market businesses complete mission-critical transactions, by advising them or investing in their companies directly. http://www.firepowercapital.com

SOURCE Kontrol Energy Corp.

We invite all shareholders and stakeholders to join the Kontrol Energy Investor Group: https://www.8020connect.com/groups/kontrol-energy-corp-203

For further information: Paul Ghezzi, CEO, paul@kontrolenergy.com; Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to the integration of the CEMSI into Kontrol’s existing businesses and technology across Kontrol’s operating platform, Kontrol’s anticipated growth in scale and revenue, including anticipated proforma 2018 revenue and EBITDA run rate, and statements related to the expansion of emission monitoring and solutions across Canada and the USA, the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, other statements that express the expectations of management or estimates of future performance, the anticipated replacement of the $ 2 million with long term debt and equity  constitute “forward-looking statements”. The forward-looking statements in this press release are presented for the purposes of providing information about management’s current expectations and plans and such information may not be appropriate for other purposes. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that CEMSI will be successfully integrated into the Company and that its revenues and growth projections will be consistent and meet with the Company’s expectations, that the revenue and EBITDA run rate of CEMSI’s and the Company’s subsidiaries will be consistent with and meet the Company’s expectations, that performance milestones will be achieved, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, that the Company will succeed in completing its proposed financing, that all conditions precedent to the acquisition of CEMSI will be met within the required timeframes, and others.  However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, that CEMSI will not be successfully integrated or will not perform as expected, that the revenue and EBITDA run rate of CEMSI and the company’s subsidiaries will be less than expected, performance milestones will not be achieved, there being a lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies and emission monitoring solutions will not prove as effective as expected that customers and potential customers will not be as accepting of the Company’s (including CEMSI’s) product and service offering as expected.  Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable securities law.

Click here to connect with Kontrol Energy Corp. (CSE:KNR, FSE:1K8) for an Investor Presentation.

The post Kontrol Energy Completes Acquisition of CEM Specialties Inc. appeared first on Investing News Network.

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Crypto Daily News: Crypto Market Rebound and Coinbase Issues a Statement about Proprietary Trading

Crypto daily news

In today’s edition of Crypto Daily News, we’ll cover the details of the crypto market rebound and Coinbase’s official statement regarding the proprietary trading allegations.

Crypto Daily News: September 20th, 2018 Crypto Market Rebounds

The crypto market is rebounding this morning, after taking a sharp fall last week after rumors spread that Goldman Sachs (NYSE:GS) wasn’t focusing on a cryptocurrency trading desk. Later, GS confirmed that the news was “fake” and that the desk is, in fact, ready, but waiting for demand.

Currently, the crypto market is trading just above $ 200 billion. In the …

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Can Bitcoin’s True Value Be Zero?

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63173.html
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Tamarack Valley Energy, “Production Ahead of Forecast”

Tamarack Valley Energy (TSX:TVE) has announced that due to exceptional 2018 drilling results, current production is ahead of forecast. As a result, the company will provide its second guidance increase for 2018.

The company also announced that it will be added to the TSX Composite Index and its sub-indices effective September 24, 2018.

As quoted from the press release:

As a result of better than expected performance from its Alberta Viking drilling program thus far in 2018, production for the last four weeks has averaged over 25,000 boe/d based on field estimates. Tamarack expects third quarter 2018 production to average approximately 24,700 boe/d.

With the company’s continued out performance and operational success realized to date in 2018, Tamarack is pleased to increase production guidance for 2018 annual, 2018 exit and preliminary 2019 budget by 500 boe/d for each period with no corresponding change to the capital expenditure forecasts.  Annual production guidance for 2018 has been increased to 24,000 to 24,500 boe/d (64 to 66 percent liquids), up from 23,500 to 24,000 boe/d, while 2018 fourth quarter exit production guidance has been increased to 24,500 to 25,000 boe/d (65 to 67 percent liquids), up from 24,000 to 24,500 boe/d. Tamarack’s 2018 capital budget remains unchanged from previous guidance at C$ 223 to C$ 233 million (including C$ 28.4 million of capital accelerated from 2019 into 2018) and is expected to be fully funded from adjusted operating field netback. Approximately half of the C$ 28 million of accelerated capital will be directed to the Veteran waterflood. Tamarack plans to drill nine new injector wells and to install the associated pipe and facilities to ensure water injection can commence by early 2019. In keeping with Tamarack’s capital allocation strategy, all of the planned Veteran waterflood projects are expected to achieve a 1.5 year payout based on current strip prices.  The other half of the accelerated capital will be directed to initiate the Company’s Q1/19 drilling program in the fourth quarter, which includes de-risking lands located east of Veteran that were originally targeted for delineation in early 2019.

Annual average production volumes under its preliminary 2019 budget are increased to 25,500 to 26,500 boe/d (up from 25,000 to 26,000 boe/d) and assume a capital budget of C$ 222 million (originally C$ 250 million with C$ 28.4 million accelerated into 2018).

Click here to read the full announcement 

Learn to invest in the oil & gas industry

 

See our report for valuable information

 

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Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63166.html
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ExGen: Empire Drilling Program Intercepts Copper Sulfide Mineralization

ExGen Resources (TSXV:EXG) has released an update in respect of Phoenix Global Mining’s exploration and development activities at the Empire Mine project in Idaho, which is 20 percent owned by ExGen.

As highlighted in the press release:

  • Extensive evidence of copper sulphides found below the Empire mine and to the north-west, east and south.
  • Significant high-grade copper drill intersections to upgrade the inferred resources inside the current resource.
  • Stepout drilling outside the current resource intersects high grade copper sulphide mineralization.
  •  A new zone of mineralization to be called “Red Star” has been discovered 330 metres north-west of the current resource towards the old Horseshoe mine. The outcrop is 20 metres wide and contains heavy oxide/sulphide mineralization. Trench samples have been sent for assaying.
  • Five drill hole intercepts contain predominantly chalcopyrite and bornite copper sulphide mineralization.
  • Hole KX18-47 confirms the presence of higher-grade sulfide mineralization beneath the current resource.
  • Elevated zinc, gold and silver values are associated with the copper intersections. Grades of up to 8.82 percent zinc, 7.93 grams per tonne (g/t) gold, 256 g/t silver.
  • Assay results from a further 19 drill holes and 298 surface channel samples are pending and will be reported shortly.

Click here to read the full ExGen Resources (TSXV:EXG) press release.

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Here’s Why “Strong Jobs” Don’t Mean “Higher Stocks”

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Buy gold this very minute scream the headlines

Ideally ownership of gold and silver should be totally boring.

It should be akin to your homeowner’s insurance policy.

It helps you sleep at night.

Those who think Bitcoin is the new hard currency have had to contend with ongoing reports of exchange hacks and cryptocurrency thefts.

CNBC reports yet another one this morning.

How do you protect an asset that is outside of your control?

You can’t look at it, touch it or heft it like bullion.

Owning Bitcoin must be the opposite of being able to sleep at night.

Cryptocurrency theft reports are becoming as common as counterfeit coins from China.

Always take ownership of your bullion, whether it is 50 gold American Eagles or 1,000 silver Canadian Maple Leaves.

Arrange to store the bullion coins securely and then let them do their job of insurance in peace and quiet.

That is the nature of insurance.

Too often, bullion buyers want validation when they buy gold and silver.

They want to say to themselves, “Prices have risen, boy was I smart to buy.”

It’s insurance.

The only persons who should be validating your choice is your spouse and your father-in-law.

It is proof of your sense of responsibility.

It is proof of your ability to protect your family’s assets.

But no, we turn it into screaming stories about Weimar Germany set to happen again here next week.

It is now 10 years since the last financial crisis.

How did those Weimar stories of 2008, 2009, 2010 pan out?

How have they ever panned out?

But on they go.

There is something compelling about them.

We don’t daydream about our house burning down and how we will have been proved right to buy an insurance policy that protects against it.

Hey, the national debt is huge.

“It will all end badly,” say another brand of stories.

I have been reading these for 50 years.

The national debt was huge when I read my first one.

It is still huge.

These are exciting stories to be sure. They get the blood pumping.

But do they lead to good decisions on your part?

Besides the insurance function, I recommend gold coins should be collected.

I remember when I obtained my first $ 20 gold piece.

It was a BU 1924 Saint-Gaudens. It was beautiful. I was awestruck.

But that wasn’t my first gold coin.

I worked my way up.

The first gold coin I ever bought was a tiny Mexican 2 peso.

I had a paper route.

What I earned I could spend on coins.

But even when gold was $ 35 an ounce, the $ 10 a week I got from delivering papers could not get me all the coins I wanted.

Current melt value of the 2 peso is $ 57.26.

The gold weight is only 0.0476 ounce as reported by the Standard Catalog of World Coins.

Then I bought British sovereigns.

These have nearly a quarter ounce of gold in them.

I decided I most preferred the King George V portrait rather than that of Edward VII or Queen Victoria.

A half century later, I still feel that way.

My portrait preference makes no difference to the gold value.

But coin collecting made my interest in gold my own and no one else’s.

That’s the validation I wanted to feel.

It also helps me sleep at night – just like my homeowner’s insurance policy.

Gold and silver should be soothing, not a cause of high blood pressure.

For entertainment, watch a movie.

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.”

The post Buy gold this very minute scream the headlines appeared first on Numismatic News.

Buzz – Numismatic News

Cornerstone Metals to Become First Vanadium Corp

Cornerstone Metals Inc. (TSXV:CCC,OTCQX:CCCCF,FWB:1PY) has announced that it will be changing its name to “First Vanadium Corp.” effective September 25, 2018 to emphasize its focus on vanadium and on advancing the Carlin vanadium project.

According to Cornerstone, The Carlin vanadium deposit is considered one of the largest, highest grade primary vanadium deposits in North America.

As quoted from the press release:

The common shares of the company will commence trading under the new name on the TSX Venture Exchange with the new trading symbol “FVAN” at the opening of trading on September 25, 2018.

There is no change in the share capital of the company, and shareholders are not required to exchange their existing share certificates for new certificates. The company’s new CUSIP number is 33745F107 and its new ISIN number is CA33745F1071.

Vanadium’s Growing Importance for Steel Manufacturing and the Energy Sector

Vanadium is growing in importance for key industrial manufacturing sectors, most notably steel and renewable energy. Today, more than 85 percent of the world’s vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 10 percent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.

Vanadium prices for 98 percent  flake V2O5 have steadily risen from under US$ 3.00/lb less than 3 years ago, to its current price of US$ 19.30/lb.

Click here to read the full announcement 

What Do You Know About The Industrial Metals Market?

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Gold Price Seasonal Trend Analysis – Video

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63169.html
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Triumph Gold Commences Deep Penetrating Geophysical Surveys over the Blue-Sky, Revenue and Nucleus Area Targeting a Buried Causative Porphyry

Triumph Gold Corp. (TSXV:TIG, OTCQB:TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the September 15th start of a geophysical program on its road accessible, 100% owned, Freegold Mountain property. The geophysical program encompasses the entire length of a multi-element soil anomaly that surrounds the Blue Sky, Revenue and Nucleus areas (Figure 1). The program is being conducted by SJ Geophysics and will include resistivity (DC), induced polarization (IP), magnetotelluric (MT), and ground magnetic surveys. The configuration of the IP survey is designed to provide data to a depth of 700 metres and the MT survey extends the depth of investigation to approximately 1,200 metres. The DC, IP and MT surveys will cover approximately 30 line-kilometres, with three 7 km long lines running the length of the soil anomaly from NW to SE, and three approximately 3 km long lines running across the Blue Sky Zone in a N-S orientation (Figure 1). The survey is expected to be complete by October 5 and will require several weeks for further data processing before final results will be delivered to the company.

Follow Hyperlink to Figure 1.

Age dating by the Mineral Deposit Research Unit (UBC), Yukon Geological Survey and other researchers has demonstrated that the newly discovered high-grade, gold-rich mineralization in the Blue Sky Zone (e.g. 316 m of 1.79 g/t AuEq* in RVD18-19, PR18-09) and WAu breccia (e.g. 128m of 1.27 g/t AuEq* in RVD18-08, PR18-07), as well as epithermal gold mineralization in the Nucleus area, are at least 30 million years younger than their host rocks. Therefore, the intrusive bodies, which are the cause of the mineralization, have yet to be discovered. The geophysical surveys are designed to test for an underlying intrusion that was a driver for the widespread and intense hydrothermal systems responsible for the near-surface mineralization. The surveys extend across, and up to 500 metres beyond, the full length of the six kilometre soil anomaly that encompasses the Blue Sky Porphyry, WAu breccia, Revenue, Nucleus, and numerous other showings. The length of the survey lines (7 km), and the dipole spacing (200 or 300 m), are optimized to test beneath the known, at- or near-surface zones of mineralization, to relate them to an underlying and potentially well mineralized source.

Tony Barresi, Triumph Gold Corp’s Vice President of Exploration comments: “This year’s discovery of very high-grade gold-rich porphyry style mineralization in the Blue Sky Zone has reinforced our hypothesis that the entire 6 kilometre long Revenue-Nucleus area soil anomaly is underlain by a buried causative intrusion that is responsible for all of the near-surface mineralization. If the size and pervasiveness of mineralization near surface is any indication, there could be something exceptionally large and well mineralized at depth. These geophysical surveys will be first order exploration tools as we embark on an elephant hunt.”

Notes:

* Gold equivalent [AuEq], and copper equivalent [CuEq] are used for illustrative purposes, to express the combined value of gold, silver, molybdenum and copper as a percentage of gold or copper. No allowances have been made for recovery losses that would occur in a mining scenario. AuEq and CuEq are calculated on the basis of US$ 3.00 per pound of copper, US$ 16.00 per pound of molybdenum, US$ 1,250 per troy ounce of gold and US$ 16.00 per troy ounce of silver.

** Coordinates are given in North American Datum 83 (NAD83), Zone 8.

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com

On behalf of the Board of Directors

Signed “Paul Reynolds”
Paul Reynolds, President & CEO

For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com
Nancy Massicotte
IR Pro Communications Inc.
(604)-507-3377
nancy@irprocommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Click here to connect with Triumph Gold Corp. (TSXV:TIG, OTCQB:TIGCF) for an Investor Presentation.

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Cryptos in Green: Ripple (XRP) and Cardano (ADA) are Leading Today but Why?

cryptos in green

Ah! Cryptocurrency. Will you ever cease to amaze investors with your volatility? When it’s bad, it can be very, very bad. But when it’s good… well, it’s confusing! Sometimes there is no real reason to see cryptos in green.

Across the top ten today most coins are in the green. But why? There has been no major news or catalyst to spur on such bullish behavior.

In the top five, Ripple (XRP) and Cardano (ADA) are leading cryptos in green, currently sporting a 4.38% and 3.78% gain respectively. So let’s see why investors are …

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Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63168.html
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Done Deal: CITIC Becomes Ivanhoe Mines’ Largest Shareholder

CITIC’s (HKEX:0267) cash splash on Canadian miner Ivanhoe Mines (TSX:IVN) has been completed, with the two companies announcing closure to the three-month process on Wednesday (September 19).

CITIC is now Ivanhoe Mines’ largest shareholder, having paid C$ 723 million for 19.5 percent of the company, with founder and executive chairman Robert Friedland bumped to second place with 17-percent ownership.

“After a period of extensive due diligence and multiple site visits, we are delighted to welcome CITIC Metal Africa as our new, largest shareholder,” said Friedland.

He added that CITIC’s leadership would bring valuable experience to “greatly assist (Ivanhoe) as we advance our projects to production, creating value for Ivanhoe’s stakeholders in the Democratic Republic of Congo (DRC) and South Africa, and our international shareholders.”

The funds will go towards the company’s three major projects, which are its Kipushi zinc-copper project in the DRC, the Kamoa-Kakula copper project — also in the DRC — and the Platreef platinum-group metals project in South Africa.

Together with an additional C$ 78 million from Zijin Mining (HKEX:2899), which used anti-dilution rights to maintain its share in the Kamoa-Kakula project, Ivanhoe Mines now has cash equivalents of C$ 855 million with no significant debt.

Both companies paid C$ 3.68 per share.

“With today’s closing of the private-placement financings with CITIC and Zijin, we have enhanced our strategic cooperation partnership with two of China’s leading mining companies,” said Friedland.

“Ivanhoe Mines now is in the extremely advantageous position of having current cash resources of approximately US$ 657 million. We are confident in our capacity to successfully finance all three of our mine-development projects to production.”

As first reported in June, the Ivanhoe board will be expanded to 11 members, with Ivanhoe putting out a seperate release to mark the appointment of CITIC Metals president Sun Yufeng to the company’s board, where he will sit alongside Friedland as co-chairman.

Along with Yufeng, CITIC also nominated Tadeu Carneiro to join the board. Carneiro is a former CEO of Brazil-based Companhia Brasileira de Metalurgia e Mineração, a private niobium-mining company partially owned by CITIC since 2011.

On the Toronto Stock Exchange on Wednesday, Ivanhoe Mines closed up a modest 0.39 percent at C$ 2.56.

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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Gold-focused Metminco Dips Toes into Nickel

Australian explorer and miner Metminco (ASX:MNC) has announced plans to acquire the Jejovo nickel project in the Solomon Islands in a bid to tap into the lucrative and growing nickel market.

In a release on Wednesday (September 19), Metminco said it will buy private company Sunshine Metals in a scrip transaction to give it 80-percent ownership of Jejovo on Santa Isabel Island, as well as 80-percent ownership of the Tausere project — an early-stage bauxite project located on another island.

The balance of each project belongs to landowners.

For the projects, Metminco will pay Sunshine AU$ 1.5 million (minus a AU$ 50,000 non-refundable deposit) and 250 million shares valued at another AU$ 1.5 million to cover agreed debts.

The acquisition will be staged, with Metminco issuing another 250 million shares to Sunshine after it receives a JORC-compliant resource estimate for Jejovo of at least 125,000 tonnes of contained nickel metal at a 0.7 percent cut-off. A final 500 million shares will be issued after Metminco receives a mining license to proceed with the project.

Executive chairman of Metminco, Kevin Wilson, said that timing was key in the decision to acquire Jejovo, which is located on the coast and has direct shipping potential.

“The acquisition of the Jejevo nickel project, gives Metminco exposure to nickel at a time when rising battery manufacture is expected to accelerate demand for the metal. We will commence advancing Jejevo as soon as the acquisition completes.”

Metminco would be adding Jejevo to a portfolio of gold projects in Colombia, which it highlights as its focus, as well as three copper and polymetallic projects in Chile.

In order to proceed with Jejevo, Metminco must raise AU$ 3 million through equity capital raising and also successfully complete its due diligence.

To get to AU$ 3 million, Metminco said it would issue a private placement of 135 million shares at AU$ 0.4c to raise AU$ 540,000, and another AU$ 2,514,116 through a pro rata renounceable rights issue.

Jejevo is described by Metminco as having “attractive nickel grades” and a project that provides the company exposure to nickel prices “in a period when demand growth is expected to be driven by, in particular, the growing market for batteries to support increasing electric vehicle production.”

Previous owners of the project progressed it to an advanced stage, with 428 holes drilled by Sumitomo Metal Mining (TSE:5713) in the 70s.

“The nickel mineralization encountered in these holes are reported to have average grades ranging between 1.1 percent and 1.3 percent nickel over 5m to 7m in thickness,” said Metminco.

The company said that with its own analysis of Sumitomo’s data, it estimated Jejevo had an exploration target of approximately 10-15 million tonnes grading 1.1-1.3 percent nickel.

“Metminco intends to assess the existing data, and undertake any confirmatory studies with the aim of generating a JORC resource in 2019 to support economic studies on the deposit,” it said, adding that it would seek a mining license in the same year.

On Tuesday (September 18), nickel was valued at US$ 12,310 per tonne on the London Metal Exchange. While 2018 has seen the metal reach four-year highs — trading at US$ 15,754 in early June — nickel has seen a yearly low this month, down at US$ 12,200 a tonne on September 10, as trade war jitters ravage base metal values.

So far, nickel has proven the most resilient, losing only 2.9 percent of its value year-to-date — compared to zinc, which was down 32 percent year-to-date as of Monday September 17.

On the Australian Securities Exchange, Metminco was down 20 percent to AU$ 0.004 when share trading resumed for the company on Wednesday.

The company has also announced it would be delisting from the London Stock Exchange in October, citing high costs and low activity.

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.

The post Gold-focused Metminco Dips Toes into Nickel appeared first on Investing News Network.

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According to a crypto jacking report published by the Cyber Threat Alliance (CTA), crypto mining malware infections are up nearly 500% in 2018.

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