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Alecto Minerals strikes JV deal with Randgold for Mali project
9 Feb 2016 - Shares in Alecto Minerals (LON:ALO) soared Monday after it announced it had struck a joint venture deal with Randgold Resources (LON:RRS) over the former's Kossanto West Gold Project in Western Mali.

Once deal is completed, Randgold would fund all costs, including the completion of a pre-feasibility study.
The company said the joint-venture was part of its strategy to retain exposure to its African gold portfolio, while minimizing spend on exploration and development.

Something has changed in gold stocks
7 Feb 2016 - While good things are happening under the surface for Gold, its lack of a strong rebound in recent months argues that such a rebound is in the future but not imminent. Gold’s steady downtrend could resume in the next week or two.

As we know, the precious metals complex enjoyed another very strong week. Gains in the metals were somewhat muted in comparison to the gains in the miners. GDX and GDXJ surged nearly 16% and 11% respectively. Last week we said nothing has changed. This week figures to be the week something did change and definitely so for the miners.

Happy day for miners: shares up by levels not seen since 2008
7 Feb 2016 - Mining stocks were soaring Thursday following a disappointing report on US services sector growth released Wednesday and comments from a top Federal Reserve official suggesting concern over rising economic risks.

As the US dollar continued to sink, investors turned to assets considered more stable, such as gold and other metals, which boosted stocks across the mining sector.

One of the biggest winners was Anglo American (LON:AAL), which at one point rose as much as 25.2% to a session high of 342.70 pence, closing later 15% up.It was closely followed by Freeport-McMoran (NYSE:FCX), which was up more than 17% to $5.70 at lunchtime in New York.

Suncor cuts spending by 10% after posting $2bn loss on writedowns
7 Feb 2016 - Suncor Energy (TSX, NYSE:SU), Canada's largest oil and gas producer, will reduce spending by about 10% this year after it posted Wednesday a surprise loss for the fourth quarter of 2015 triggered by writedowns on the value of Canadian, Libyan and offshore assets.

The Calgary-based company’s lowered its capital spending plan to between $6 billion and $6.5 billion from a November estimate of $6.7 billion to $7.3 billion. The cut comes partially from deferring maintenance at its Firebag oil sands operations to 2017 from this year.

In addition to the collapse in oil prices, Suncor's bottom line was dragged down by almost $1.6 billion in impairment charges.

Suncor’s operating loss was $26-million, or 2 cents a share, versus operating earnings of $386-million, or 27 cents a share, in the year-ago period

Dev Randhawa: Fission CEO talks failed Denison merger, Chinese investment and uranium outlook 2016
2 Feb 2016 - Many investors may not realize it, but uranium was the only commodity that went up in price last year. The uranium price is a pure function of demand and the number of reactors in China is set to reach 38 by the end of this year. The cost of uranium is trivial compared to a reactor's other running costs, leaving plenty of room for upward movement in the spot price. With the bear market in uranium going on five years, there are very few quality uranium companies still around vying for your investment dollar.

This week, we talk to Dev Randhawa, Founder and CEO of Fission Uranium. Despite harsh market conditions, Dev’s team has created hundreds of millions of dollars of shareholder value through the discovery and development of Patterson Lake South. But the ride has not been without its ups and downs. In this interview, we discuss the failed merger between Denison and Fission Uranium, as well as the more recent investment by Chinese group, CGM Mining Company.

Despite De Beers and Rio's efforts, global diamond output to jump 1.3% this year
2 Feb 2016 - A concerted effort by De Beers and Rio Tinto (LSE: RIO) to limit global diamond supply is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond Corp (TSX: DDC) and Petra Diamonds (LSE: PDL).

Despite De Beers and Rio's efforts, 2016 global diamond production by-volume is forecast to be 137 million (M) carats, or +1.3% over 2015 estimates. However, the impact of strategic production cuts are more apparent on a value-produced basis, as curtailments at De Beers' high-value mines in particular, and lower diamond price offerings across the industry, reduce global diamond production by-value forecasts to $12.6 billion in 2016, or -10.0% relative to 2015 estimates.

U.S. coal for electricity plummets to 45-year low
2 Feb 2016 - The amount of coal used for electricity generation in the United States has sunk to a 45-year low. In 1970, the last year that the percentage of coal use compared to other energy inputs like natural gas, nuclear, wind and solar energy was this paltry, President Richard Nixon was in his second year of office, Blood, Sweat and Tears won the Grammy for Album of the Year, and Midnight Cowboy became the only X-rated film to win Best Picture at the Academy Awards.

According to the Energy Information Administration (EIA), coal-fired power plants produced just 29 percent of U.S. electricity in November, compared to 35 percent last July and 39 percent for all of 2014. “Coal generation is about as low as it’s ever been,” EIA analyst Glenn McGrath told Climate Central, in a story carried by Scientific American. “It’s never been that low for a particular month.”

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