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Precious Metals Weekly Round-Up: Gold Climbs as US Dollar Slumps

Both gold and silver made gains early Friday morning (September 21) after the US dollar tumbled in response to a variety of ongoing geopolitical concerns.

As of 9:26 a.m. EST, the yellow metal was trading at US$ 1,192.10 per ounce after hitting a one-week high in the previous session. As for the white metal, it was trading at US$ 14.15 per ounce as of 19:29 a.m. EST.

Both gold and silver rose when the US dollar dipped on the back of calmed fears surrounding a Sino-US trade war, the looming threat of a potential interest hike during the Federal Reserve meeting next week and ongoing US and Chinese tariffs on reciprocal imports.

“America is killing itself with these trade tariffs. [They] actually hit America far harder than [they] hit China. The idea that the dollar is all mighty and going to continue to rise is not true,” said Alasdair Macleod, head of research at GoldMoney.com.

“Gold traders are sitting on short positions (but) if the dollar comes down another notch or two, shorts in gold will start to panic. When gold starts moving, it [could] start moving very sharply [higher],” he added.

As for silver, Christopher Lewis of FXEmpire stated, “[r]emember, the US dollar has a major part to play in the way the silver markets behave. Right now, there are a lot of concerns around the world, so that of course has people dumping precious metals over the longer-term.”

He added, “I think that will be one of the reason you should be paying attention to buying physical silver as it’s a great longer-term investment.”

For their part, platinum and palladium were up for the week but dipped during the Friday morning session. On Thursday (September 20), platinum reached its highest price since August 10 when it traded at US$ 835.20 per ounce, while palladium found prices not seen since April 19 when it traded at US$ 1,054 per ounce.

As of 9:44 a.m. platinum was trading at US$ 824 per ounce, while palladium landed at US$ 982 per ounce.

Precious metals top news stories

Our top precious metals stories this week featured Tahoe Resources (TSX:THO,NYSE:TAHO) being forced to lay off 169 employees at its flagship silver mine Escobal, Zimbabwe miner Metallon evaluating Zimbabwe’s current economic climate and looking at paying its mining equipment suppliers in gold and Sibanye-Stillwater (NYSE:SBGL,JSE:SGL) remaining committed to the acquisition of platinum miner Lonmin (LSE:LMI) despite a variety of conditions placed on the deal by a competition watchdog,

1. Tahoe Lays Off More Employees at Guatemalan Silver Mine

Tahoe Resources (TSX:THO,NYSE:TAHO) was forced to lay off 169 employees at Escobal, its flagship silver mine.

The move follows the early September news that Guatemala’s Constitutional Court has upheld the suspension of licenses at the mine.

With the new round of layoffs at Minera San Rafael, Tahoe’s local unit, the total number of employees currently out of work is 872. Layoffs began after the suspension was implemented. “The uncertainty in which the [Constitutional Court] has maintained the case compels us to adapt,” Andres Davila, a spokesperson for the mine, said in a statement.

2. Top Zimbabwe Miner May Pay Suppliers in Gold

Metallon evaluated Zimbabwe’s current economic climate and has begun looking at paying its mining equipment suppliers in gold.

Zimbabwe abandoned its currency in 2009 because of hyperinflation, and now faces a cash shortage.

Metallon, the country’s largest gold miner, requires US$ 400 million to buy new machinery and upgrade existing equipment as it moves to increase its production.

CEO Mzi Khumalo noted that the move would allow the company to sidestep the country’s cash quandary and continue with plans to expand.

“We can then enter agreements with banks, various financiers on the basis of gold-backed transactions,” Khumalo stated. He added, “[suppliers] will get their payment in gold.”

3. Sibanye-Lonmin Merger Still on Despite Competition Watchdog Conditions

Sibanye-Stillwater (NYSE:SBGL,JSE:SGL) reported that it remains committed to the acquisition of platinum miner Lonmin (LSE:LMI) despite a variety of conditions placed on the deal by a competition watchdog.

On Monday (September 17), the South African Competition Commission approved the all-share transaction on the basis that it will not prevent or lessen competition in the platinum-group metals (PGMs) markets.

It also made the decision to place conditions on the deal, stating that it raises public interest concerns.

Both companies have accepted the terms, with Neal Froneman, CEO of Sibanye-Stillwater, stating, “[t]he positive recommendation by the commission to the tribunal is pleasing and on terms which we believe are fair, reasonable and in the best interest of all stakeholders.”

Also in the news

Bloomberg reported that billionaire John Paulson has formed a coalition with 15 other founding members aimed at curbing years of what his hedge fund has called value destruction in the gold sector.

The coalition is aptly titled the Shareholders Gold Council and it is stated that the idea came about from Paulson & Co. during the Denver Gold Forum last September.

“Since last year, the gold price has crept lower and shareholder returns have been poor,” Marcelo Kim, a partner at Paulson, noted.

“Interest in the sector has continued to languish, and you have seen capital leave the space and notable fund closures,” he added.

The Shareholders’ Gold Council will be headed by Christian Godin, a former senior vice president at Montrusco Bolton Investments and the group intends to ensure the management and boards of mining companies are aligned with shareholder interests.

Also making news was the World Gold Council’s report that central banks have added 193.3 tonnes of gold to their reserves in the first six months of this year, totalling in an 8 percent increase compared with the 178.6 tonnes of gold bought this time last year, making it the strongest first half for central bank gold buying since 2015.

The council stated that gold remains an important component of central banks’ foreign exchange reserves.

“We believe some emerging market central banks could be adding gold to maintain a certain allocation level as overall reserves grow. Recent gold purchases may reflect higher overall foreign exchange reserve balances,” said the WGC.

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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Nexa Resources S.A. Announces US$30 Million Share Buyback Program

Nexa Resources S.A. (“Nexa Resources” or the “Company”) announces today that its Board of Directors (the “Board”) has approved a share buyback program, under which the Company, directly or indirectly through its subsidiaries, may repurchase, from time to time, up to US$ 30 million (equivalent to ~CAD$ 38.8 million as of September 19, 2018) of its outstanding common shares, which is an amount equivalent to a return of approximately US$ 0.225 per share (equivalent to ~CAD$ 0.29 as of September 19, 2018), over the 12-month period beginning on November 6, 2018 and ending on November 6, 2019.

Under the share buyback program, the Company may repurchase shares for cash in accordance with all applicable securities laws and regulations and within the limits of the authorization approved in the general meeting of shareholders of the Company held on September 13, 2018. The share buyback program will be carried out on the New York Stock Exchange.

The Board believes that the share buyback program constitutes an additional instrument for capital allocation, reflects its confidence in the fundamentals and long-term outlook of the Company and provides additional flexibility to manage capital and shareholders return. Any share repurchases will not change or interfere with the Company’s intention to maintain its distributions according to the Company’s current dividend policy and strategy.

“The repurchase of shares was approved by 99.99% of our shareholders represented at our general meeting, and we believe it reflects the desire of our shareholders for additional value distribution. The planned share repurchases represent a yield of 1.9% on the September 19, 2018 closing price of NEXA’s common shares on the New York Stock Exchange of US$ 11.80 per share. We see it as an additional instrument to remunerate our shareholders without impacting our growth strategy” said Tito Martins, Chief Executive Officer of Nexa Resources.

The timing and amount of repurchases under the share buyback program will depend on a variety of factors, including the Company’s business plan, financial performance and market conditions. There cannot be any assurance as to how many shares, if any, will ultimately be repurchased under the share buyback program.

About Nexa’s Compliance with GDPR:

Nexa is adapting to the new General Data Protection Regulation (GDPR) in the European Union. Please check our Privacy Notice on the link below: https://ir.nexaresources.com/privacy-policy

About Nexa

Nexa is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. The Company owns and operates five long-life underground mines, three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil. Two of the Company’s mines, Cerro Lindo in Peru and Vazante in Brazil, are among the 10 largest zinc mines in the world and combined with the Company’s other mining operations, place the Company among the top five producers of mined zinc globally in 2017, according to Wood Mackenzie.

Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Nexa to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include (but are not limited to) estimates, forecasts, and statements as to management’s expectations with respect to the business and operations of the Company and mining production and its projects.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in the cost of energy or supplies.

We assume no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov).

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Are We Experiencing a Ripple Rally? Price Indicates Yes

XRP price

The Ripple price has taken multiple hits over the past six months. Most people agree with that. At the end of June, the XRP price was roughly $ 0.54. In two months, it dropped to $ 0.29.

But now that’s over; we’re in the midst of a Ripple rally. Or, so it appears.

After bullish news for XRP surfaced this week, the price has skyrocketed, with the altcoin currently up more than 10%. And what was that news? Well, let’s just say it involves the launch of xRapid.

Possible xRapid Launch Sends XRP Price Higher …

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Chinese Top Lithium Producer Ganfeng Jumps on Tesla Deal

Shares of Chinese top lithium producer Ganfeng Lithium (SHE:002460) jumped more than 10 percent on Friday (September 21) after the miner signed a supply deal with electric car maker Tesla (NASDAQ:TSLA).

Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020, but the deal could be extended by three years.

“The agreement will help Ganfeng build a healthy long-term relationship with Tesla,” the company said, “which will help improve the company’s profitability, and benefit its long-term development.”

Lithium in 2018

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According to Benchmark Mineral Intelligence, US-based Tesla is estimated to produce at least 26 Gwh of batteries between January 2018 and March 2019 — using around 20,000 tonnes of lithium hydroxide.

But once the company reaches its Nevada gigafactory target of 35 Ghw, it may need as much as 28,000 tonnes of lithium hydroxide, the London-based firm forecasts.

Aside from its Nevada gigafactory, which is operated by Panasonic (TYO:6752), Tesla also plans to open a US$ 2-billion plant in Shanghai, with an annual capacity of 500,000 cars.

The Ganfeng-Tesla deal is another sign that electric car makers continue to look for ways to secure supply for the expected increase in electric car sales. In fact, US-based Tesla had already signed a lithium deal with Australia’s Kidman Resources (ASX:KDR) last May.

Meanwhile, earlier this month, Ganfeng agreed a deal with battery maker LG Chem (KRX:051910) to almost double its supply of battery materials from 2019 to 2025.

Ganfeng has now locked in the sector’s two biggest supply pacts, Simon Moores, managing director of Benchmark Mineral Intelligence, told Bloomberg. “These deals are dwarfing the size of the entire lithium hydroxide market from only a couple of years ago,” Moores added.

As of 1 p.m. EST on Friday, shares of Ganfeng Lithium were trading at CNY 32.02.

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

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

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Why the Next Market Crash Will Not Take Gold Down

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63174.html
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Cannacord Genuity Initiates Coverage of Khiron Life Sciences

Cannacord Genuity, an independent full-services financial services firm, has commenced coverage of Khiron Life Sciences Corp. (TSXV:KHRN), giving it a ‘speculative’ buy rating. Khiron is a vertically-integrated medical cannabis company fully licensed to conduct its core operations in Colombia and, according to Cannacord, is “cultivating a first-mover-advantage” in the most advanced regulatory environment in Latin America.

Cannacord’s coverage outlined by analyst Kimberly Hedlin, and was quoted in part in a recent article on the Globe and Mail, which reviewed input from industry analysts. Hedlin set the target price at $ 3 per share.

“Following a recent wave of medical cannabis legalizations in Latin America, we believe the market is on the cusp of exponential growth,” said Ms. Hedlin. “In our view, Khiron Life Sciences is positioned to secure a sizeable market share given its first-mover advantage, low-cost operations, robust medical platform and strong management team. We believe the stock provides an attractive entry point with rare exposure to LATAM medical cannabis.”

“Our target reflects an [enterprise value] of $ 210-million and a 2020 estimated EV-to-EBITDA multiple of 9.2 times,” said the analyst. “We believe this is reasonable in light of recent transactions in the region (which averaged $ 250-million) and current Canadian trading multiples of 16.5 times. The key risks to our target include Colombian cannabis pricing, receipt of commercial quotas, patient conversion rates and closing of the ILANS acquisition. We believe a ‘Speculative’ classification is appropriate given Khiron’s pre-revenue status.”

To access the full article, click here.

Click here to connect with Khiron Life Sciences Corp. (TSXV:KHRN) for an Investor Presentation.

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Ripple (XRP) Temporarily Passes Ethereum (ETH) but ETH Reclaims #2 Spot

Ripple (XRP)

Ripple (XRP) just passed Ethereum (ETH) this morning to take the second-largest cryptocurrency spot. Except, a few hours later Ethereum enthusiasts shot back and Ethereum re-gained its #2 spot.

Ripple (XRP) Comeback

XRP is among the group of worst performing cryptocurrencies this year, but it seems to be making a comeback. In the summer, it was down more than 90 percent from its high in January.

XRP and Ripple are often confused, and people intertwine them. Ripple Labs is a fintech company that focuses specifically on global payments and hold the majority of XRP. …

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How Can New Companies Succeed in the Overcrowded Online Gambling Market?

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63175.html
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The Flowr Corporation / The Needle Capital Corp. Announce Completed Of Qualifying Transaction

The Flowr Corporation (“Flowr” or the “Company”) and The Needle Capital Corp. (“Needle”) are pleased to announce the completion of the previously-announced qualifying transaction under the policies of the TSX Venture Exchange (the “TSXV”).

Pursuant to a business combination agreement entered into between Needle, Flowr and 2652253 Ontario Inc. (“Subco”) as of August 27, 2018, as amended, Needle and Flowr completed a transaction that resulted in a reverse takeover of Needle by the shareholders of Flowr (the “Transaction”) to ultimately form the resulting issuer (the “Resulting Issuer”). The Transaction also provides for the exchange, into common shares of the Resulting Issuer (the “Resulting Issuer Shares”), of the subscription receipts issued in connection with Flowr’s previously-announced $ 35,900,104 non-brokered private placement and brokered private placement co-led by Clarus Securities Inc. and Eight Capital on behalf of a syndicate of agents (the “Financing”).

Flowr and Needle received conditional approval for the Transaction from the TSXV on September 12, 2018 and the Resulting Issuer Shares are expected to commence trading on the TSXV under the symbol “FLWR” on September 26, 2018.

“Management and the Board of Directors are extremely pleased with the successful completion of our recent Financing, and we look forward to having Flowr trading on the TSXV,” said Founder and President Tom Flow.  “We have been harvesting at our Kelowna facility since April, and recently received our sales license from Health Canada. Over the next few months we look forward to introducing our products to both the medical community and the upcoming adult-use market while continuing to ramp up production in Kelowna. With the team we’ve assembled and the facility we’re building, we feel poised to become a premier player in the cannabis space.”

CEO Vinay Tolia added: “Our mission is to provide the highest quality cannabis in the world. Tom Flow has been a leader in this industry since it began and there’s no one equal at constructing and operating cultivation facilities. My partners and I founded this company with Tom and along with him we are the largest shareholders because we believe in this company’s future.”

The Transaction

Immediately prior to the completion of the Transaction, Needle filed articles of amendment to: (a) change its name from “The Needle Capital Corp.” to “The Flowr Corporation”; and (b) consolidate its share capital on the basis of one post-consolidation share for each 13 pre-consolidation shares.

The Transaction was structured as a three-cornered amalgamation pursuant to which Flowr amalgamated with Subco to form an amalgamated entity, named The Flowr Group Inc.  In addition to the Needle common shares, options and agent’s warrants currently outstanding, the Transaction involved the issuance of 85,692,095 Resulting Issuer Shares (including the Resulting Issuer Shares issued in connection with the Financing).  In addition, the Resulting Issuer issued Resulting Issuer stock options and Resulting Issuer broker warrants, in exchange for the outstanding Flowr stock options; and broker warrants, respectively.

As previously announced, Flowr completed the Financing for 13,807,734 subscription receipts and gross proceeds of $ 35,900,104.  In connection with the completion of the Transaction, each subscription receipt issued pursuant to the Financing was automatically exchanged for one Resulting Issuer Share in the capital of the Resulting Issuer.

Following the completion of the Transaction, there are 86,245,945 Resulting Issuer Shares outstanding in the capital of the Resulting Issuer.

Upon closing of the Transaction, the members of Needle’s board resigned and were replaced with the members of the Flowr board of directors, being Tom Flow, Steve Klein, David Miller, Lyle Oberg, Rishi Shah and David Towill. In addition, all officers of Needle resigned at Closing, and the following officers were appointed: (i) Vinay Tolia as Chief Executive Officer; (ii) Tom Flow as President; (iii) Alex Dann as Chief Financial Officer; (iv) David Ralston as Chief Operating Officer; and (v) David Miller as Corporate Secretary.

The Transaction remains subject to the final approval of the TSX Venture Exchange.

About The Flowr Corporation

Flowr, through its subsidiaries, is a vertically-integrated Canadian cannabis company focused on the natural science of cannabis. With head offices in Markham, ON and production in Kelowna, B.C., Flowr builds and operates large-scale, GMP compliant cultivation facilities utilizing their own patented growing systems. Flowr’s investment in research and development ensures that its master growers are able to supply patients with consistent, high-quality medicinal cannabis. With a sense of craftsmanship and a spirit of innovation, Flowr is also well positioned with a line of premium quality cannabis products for the upcoming adult-use market.

Website: flowr.ca

Further Information

For further information regarding the Transaction, please refer to the filing statement of Needle and The Flowr Corporation dated as of September 17, 2018, available on SEDAR at www.sedar.com.  Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities Flowr should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the closing of the Transaction, the commencement of trading and the parties’ ability to receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Transaction will be completed on the terms described above. Flowr assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Neither the 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 press release.

Jim Walsh The Flowr Corporation +1-607-275-7141 jwalsh@flowr.ca  Bruce Dunbar The Flowr Corporation +1-917-756-4065 bdunbar@flowr.ca  Vinay Tolia, CEO The Flowr Corporation +1-905-940-3993 x1501 vinay@flowr.ca

Click here to connect with The Flowr Corporation for an Investor Presentation.

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China Is Building the World’s Largest Innovation Economy

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63176.html
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Northern Sphere Mining Corp. Announces Closing of Private Placement and Debt Conversion

Northern Sphere Mining Corp. (CSE:NSM) (OTC Pink:NSMCF) (“Northern Sphere” or the “Company”) is pleased to announce the closing of the first tranche of its previously announced private placement. The Company issued 1,800,000 units of the Company (“Units”) at a price of $ 0.08 per Unit for aggregate gross proceeds of $ 144,000. Each Unit is comprised of one common share (“Common Share”) of the Company and one Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of three years following the date of closing at an exercise price of $ 0.12 per Warrant Share, subject to adjustments in certain events.

Common Shares and Warrants issued pursuant to the private placement and Warrant Shares issuable upon the due exercise of the Warrants are subject to a four-month hold period from the date of closing. The net proceeds from the private placement will be used towards ongoing development of mining assets and for general working capital.

Northern Sphere also announced that it has closed a debt conversion of approximately $ 334,000 owing to certain creditors of the Company. The debt conversion consisted of the issuance of 4,171,151 Common Shares of the Company at a conversion price of $ 0.08 per share. Common Shares issued on the conversion of outstanding debt, will also be subject to a four-month hold period from the date of closing.

About Northern Sphere Mining Corp.

Northern Sphere is dedicated to growth through the acquisition and development of mining assets with an emphasis on gold, silver and copper. In efforts to expedite and optimize mineral targeting on its assets, the Company is employing cutting-edge exploration technologies to generate robust mining projects. Headquartered in Toronto, Ontario, Northern Sphere has a strong project pipeline of properties with a focus on gold, silver and other metal production in pro-mining jurisdictions.

Cautionary Statements

This press release contains forward-looking statements which reflect Northern Sphere’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Northern Sphere disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.

For further information, please contact:

A. John Carter
Chief Executive Officer
Northern Sphere Mining Corp.
Tel: 905-302-3843

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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The Petro Coin Will Be Used for Global Trade in Venezuela Come October

Petro Coin

Venezuela’s president, Nicolas Maduro, just made a bold statement regarding his oil-backed cryptocurrency, the Petro Coin.

The Petro Coin

Maduro appeared on the national VTV channel today and delivered a speech about his country’s latest economic issues. According to VTV’s official website, Maduro said:

“The Petro enters the street, as a currency of exchange, purchase and convertible currencies for the world.”

However, the Venezuelan president didn’t specify the areas where the Petro will be used. Maduro also didn’t name any countries willing to accept the Petro Coin.

This oil-backed cryptocurrency …

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Dow Broke Out and Made a New All-time High! What’s Next

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63178.html
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Noram Confirms Terms of Transaction With Alba Minerals

Noram Ventures Inc.’s (TSXV:NRM) (OTCBB:NRVTF:US) Green Energy Inc. has entered into a property purchase agreement, effective date of May 28, 2018, with Alba Minerals Ltd., pursuant to which the company proposes to acquire the 25-per-cent minority interest held by Alba in a series of mineral claims located in Clayton Valley of Nevada.

In consideration for the interest, the Company will issue to Alba 3,800,000 common shares and will complete a one- time cash payment of $ 400,000. In addition, Alba will receive a right of first refusal to participate in future financings conducted by the Company to maintain its ownership interest. No finders’ fees or commissions are payable in connection with the transaction.

Completion of the transaction with Alba remains subject to the approval of the TSX Venture Exchange (the “Exchange”). The Company and Alba share a common director, and as a result are deemed to be non -arms length parties under the policies of the Exchange. As a result, the Exchange may impose additional conditions on any approval, including a requirement to provide a valuation of the interest being acquired and to obtain shareholder approval for the transaction. There can be no guarantee that approval of the Exchange will be obtained, or that the transaction will proceed in a timely fashion.

The Company will provide additional information regarding the transaction as soon as it becomes available.

About Noram Ventures Inc.

Noram Ventures Inc. (TSX – Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium deposits and becoming a low – cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects. Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.

We seek Safe Harbor.

Click here to connect with Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) for an Investor Presentation. 

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Bitcoin Price: BTC is Bullish, are Altcoins the Reason?

Bitcoin Price

Bitcoin price is on a bull-run right now. In fact, the entire crypto market seems to be making a bullish turn as sharp gains can also be seen across a number of altcoins.

At the time of writing, Bitcoin is up 4.6% on the 24-hour basis and is currently trading at $ 6,733 according to coinmarketcap.com

Earlier in the day, Bitcoin price hit its 16-day high of $ 6,745, but it could easily hit that high again by the looks of things.

Bitcoin Price Recovery

Bitcoin is recovering from a five-week low of $ 6,100 …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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Elliott Wave Analysis of the SP-500 (SPX)

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article63179.html
The Market Oracle – Financial Markets Analysis and Forecasts – CLICK TO READ ARTICLE

Base Metals Weekly Round-Up: Zinc, Money, Water Make the News

Another week, another round of tariffs in what is becoming part of regular programming for 2018.

The number this time: US$ 200 billion on Chinese goods with the threat being that US President Donald Trump is willing to tax all imports from the east Asian behemoth.

Pundits and businesspeople are now recommending watchers get comfortable, as the co-founder of Alibaba warned the world get used to trade war tit-for-tat between the US and China for the next 20 years.

The ructions are having continued effects on base metals prices, with the commodities markets hammered by the brawling economies.

Despite all base metals being down overall, this week brought relief with copper enjoying a reprieve, edging above US$ 6,000 a tonne for the first time this month on Wednesday (September 19), though it’s still well down in Q3 so far — having started July at US$ 6,594.5. By Thursday (September 20) copper was still above US$ 6,000 a tonne.

Fellow base metal zinc, which was discussed in more detail this week (see below), spent the whole week on the up as well, starting at US$ 2,285 on Monday (September 17) and racking up constant gains every day to Thursday when it reached US$ 2,434 a tonne for a total increase of 6.5 percent.

The most resilient base metal for 2018, nickel also posted gains over the week, starting at US$ 12,230 and reaching US$ 12,525 a tonne by Thursday.

1. Zinc Supply Crunch Hides in Shadow of Trade War

As China and the US battle it out in a trade war, base metals prices continue to languish on global markets.

But in the case of zinc – the hardest hit of the base metals, smothered prices hide a recipe for a price increase according to Cormarck Securities mining analyst Stefan Ioannou, who spoke with INN this week.

Ioannou said that when it comes to the zinc story and what is affecting the metal’s price besides the trade war, it is really all on the supply side of the equation.

“It’s really a lack of supply thats stands to really bolster prices here in the near to medium term,” he said.

“What we’ve seen in the last number of years is a number of large mines shut down. And they’ve shut down not because they’ve had problems, but just because they’ve run their course and depleted reserves,” Ioannou continued.

“So the writing’s on the wall here: we’re losing supply and there’s no new supply coming in to replace it. That’s really setting up for a supply crunch,” he said.

2. Done Deal: CITIC Becomes Ivanhoe Mines’ Largest Shareholder

Canada’s Ivanhoe Mines (TSX:IVN) and China’s CITIC (HKEX:0267) finally tied the knot on Wednesday, formalizing the latter’s strategic investment in Robert Friedland’s company in a closing ceremony.

All the t’s have been crossed and all the i’s dotted, bringing to a close the three-month process first announced in June.

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

The funds— along with another C$ 78 million from Zijin Mining (HKEX:2899) from an anti-dilution move—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.

3. Centerra Gold Divines More Water for Mount Milligan

This week, Centerra Gold (TSX:CG) secured short-term water supply for its Mount Milligan copper-gold mine in drought-stricken BC, averting a reduction in production for the very near future.

The company said that negotiations with regulators during Q3 “resulted in earlier than anticipated approval of certain short-term water sources,” allowing Centerra to tap into groundwater wells within the mines tailings storage for the duration of its life.

Through the talks the company has also been able to extend the amount of time it can use water from Philip Lake nearby — but only for an extra two weeks.

The company had warned back in August that production at the central-BC mine was at risk, but it did not indicated any fall in output in its most recent release, saying that the mine had been operating at capacity while negotiations were ongoing.

In other base metals news

Philippine president Rodrigo Duterte delivered his monthly reminder to miners that he wasn’t their biggest fan on Monday, again wheeling out his preference for shutting down mining in the Asia-Pacific country altogether after a series of deadly landslides claimed the lives of at least 24 people in a mining area. As the world’s second-largest nickel miner, the threat may make miners cringe (again), although Duterte – known for colorful opinions – makes the threat every few weeks.

Fresh from a shiny announcement that works would soon be commencing on the mammoth Udokan copper project in Russia, owner Baikal Mining (which is owned by Alisher Usmanov) was revealed by Reuters to be in talks with Russian banks to raise US$ 1.25 billion for the project, which is Russia’s largest untapped copper deposit with 26.7 million tonnes of copper in reserve.

Speaking of copper, MMG Limited (HKEX:1208) announced that as a result of wall instability at its Las Bambas mine in Peru, it would be trimming its copper production forecast at the mine for 2018 by 30,000 tonnes, from 400,000-430,000 down to 375,000-395,000 tonnes.

Staying with copper still, the Mongolian Copper Corporation can chalk up another moral victory, with a Mongolian court declaring that Ulaanbaatar broke the law in its quest to nationalise the Erdenet copper mine – one of the largest in Asia. The company has been fighting to hold on to its 49 percent share for over a year now as the government keeps coming back for extra cracks at the lucrative operation.

In zinc,Nyrstar (EBR:NYR) announced this week that ‘adverse market conditions’ (read: trade war) meant its Q3 earnings would be taking a hit thanks to precipitous zinc prices in 2018.

Moving among the base metals, Brazilian miner Vale (NYSE:VALE) revealed at a conference in China that it was considering expanding the capacity of its S11D project in order to better supply its customers in China.

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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