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Gold stocks correcting through time not price
3 Apr 2016 - Gold Stocks enjoyed a fabulous, near vertical rebound into March yet were in extreme overbought territory. We and many others called for a correction. In recent weeks those other voices have worried excessively about the alleged bearish construction of the CoT. Although Gold and Silver have essentially consolidated with a little weakness, the gold stocks have continued to hold above even initial support. Over the past month they have corrected through time rather than price.

April Fools in March
2 Apr 2016 - It may be almost impossible to underestimate the gullibility of professional Fed watchers. At least Lucy van Pelt needed to place an actual football on the ground to fool poor Charlie Brown. But in today's high stakes game of Federal Reserve mind reading, the Fed doesn't even have to make a halfway convincing bluff to make the markets look foolish.
Just two weeks ago, the release of the Fed's March policy statement and the subsequent press conference by Chairwoman Janet Yellen should have made it abundantly clear that the Central Bank policy had retreated substantially from the territory it had previously staked out for itself. In December it had anticipated four rate hikes in 2016, but suddenly those had been pared down to two. Based on the conclusion that the era of easy money had been extended for at least a few more innings, the dollar sold off and stocks and commodities rallied.

Zimbabwe orders diamond miners to halt operations
23 Feb 2016 - Zimbabwe’s Minister of Mines has ordered all diamond producers operating in the diamond-rich Marange area to halt mining effectively immediately, after the government didn’t renew their licenses.

The firms are meant to leave behind equipment and vacate their premises and a newly created state-owned company, Zimbabwe Consolidated Diamond Co., is expected to take over, The Independent reports.

AngloGold Ashanti digs itself out of debt
23 Feb 2016 - South Africa’s AngloGold Ashanti (NYSE:AU) (JSE:ANG), the world’s third-largest producer of the metal, returned to profit in the fourth quarter thanks to a combination of cost cutting measures and improved bullion prices.

The company, however, did not manage to avert posting a net loss for 2015, which widened to $70m versus a $39m loss a year earlier. Revenues were $4.17bn from $5.11bn in 2014.

Rio told to start buying copper mines rather than build them
15 Feb 2016 - Rio Tinto Group should focus on buying floundering rivals to secure copper mines instead of building new ones, according to Sanford C. Bernstein Ltd.

“The decision should be a no-brainer,” Paul Gait, an analyst at Bernstein in London, said in a note Friday. “Building a new ton of supply costs significantly more than buying an existing one.”

Brazilian court blocks assets of Vale and BHP worth $120 million
15 Feb 2016 - A judge in Brazil's state of Minas Gerais has frozen close to $120 million worth of assets belonging to mining giants BHP Billiton (ASX:BHP) and Vale (NYSE:VALE) to cover "material and moral damages, individual and collective" caused by the bursting of a dam at their jointly owned mine in November.

Friday's ruling affects mainly the Vale-BHP joint venture Samarco, which operated the iron ore mine where the dam breach occurred, Noticias de Mineracao reports (in Portuguese).

Pummeled by oil bets, Freeport and Teck get some crude reward
14 Feb 2016 - Teck Resources Ltd. and Freeport-McMoRan Inc. led a mining stock rally on Friday as surging oil prices provided relief for their foray into energy before prices tumbled.

Shares in Freeport surged 13 percent to $5.52 at 1:34 p.m. in New York, while Teck, Canada’s biggest diversified miner, jumped 20 percent to C$6.19 in Toronto. They were the best performers in the Bloomberg Americas Mining Index.

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