Nasdaq Commodities

FXEmpire.com - Futures Surge Amidst Reduced Production and Strong LNG Exports Natural gas futures posted a stellar performance last week, reaching their highest levels since February. This surge was driven by strong market sentiment suggesting a balancing market and mixed weekly

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17.Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange.The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings seen earlier in the year. It rose 0.3 percent month-on-month. In other economic news, the Conference Board released its leading economic index (LEI) on Friday. The think tank said the LEI decreased by 0.6 percent in April, which was a steeper decline than the 0.3 percent decrease seen in March. In its assessment of the health of the US economy, the organization said the data indicates a recession is no longer likely, but that challenges exist and will continue to weigh on the economy in 2024.In the resource sector, the Canadian and US governments announced on Thursday (May 16) that they will be making the first investments as part of the Canada-US Energy Transformation Task Force, whose aim is to support the development of critical minerals projects. Fortune Minerals (TSX:FT,OTCQB:FTMDF) will receive a C$7.5 million investment from the Canadian government to develop its NICO cobalt-gold-bismuth-copper project in the Northwest Territories, as well as an injection of US$6.4 million from the US government’s Defense Production Act Investments Office.The other company to receive funding is Lomiko Metals (TSXV:LMR,OTCQB:LMRMF), which is the top stock on the list below. Read on to learn details about the funding it received and about this week's other top gainers on the TSXV. 1. Lomiko Metals (TSXV:LMR) {"@context":"http://schema.org","@type":"Corporation","name":"Lomiko Metals","url":"http://www.lomiko.com","description":"A Domestic Producer To Supply North America’s Critical Metals","tickerSymbol":"TSXV:LMR","sameAs":["https://twitter.com/LomikoMetals"],"image":"https://investingnews.com/media-library/lomiko-metals.png?id=29444475&width=980","logo":"https://investingnews.com/media-library/lomiko-metals.png?id=29444475&width=210"} Press Releases Company Profile Weekly gain: 133.33 percent; market cap: C$10.02 million; current share price: C$0.035Lomiko Metals is an exploration and development company working to advance two battery materials projects in Québec, Canada, to production. Its La Loutre asset is a flake graphite project located in the Laurentides administrative region, 30 kilometers southwest of Montreal. A May 2023 technical report outlines an indicated resource of 64.7 million MT grading 4.59 percent graphitic carbon, with an inferred resource of 17.45 million MT grading 3.72 percent graphitic carbon.The company also holds a 49 percent stake in Critical Elements’ (TSXV:CRE,OTCQX:CRECF) Bourier lithium project, with the opportunity to earn an additional 21 percent. The site is located northeast of Duval, Québec, and consists of 203 mining claims over 102.6 square kilometers. The project is currently in the early phases of soil and surface sampling.Shares of Lomiko surged this past week following Thursday's news that it has received US$8.35 million in funding from the US Department of Defense as part of the Defense Production Act and the Inflation Reduction Act for energy security in North America. The company received an additional grant of C$4.9 million from the Critical Mineral Research, Development and Demonstration program administered by Natural Resources Canada. The money will be used for a pilot program to upgrade flake graphite from the La Loutre project into battery-grade anode material. Buy now , 2. Copper Fox Metals (TSXV:CUU) {"@context":"http://schema.org","@type":"Corporation","name":"Copper Fox Metals","url":"https://copperfoxmetals.com/","description":"Copper Exploration and Development in North America","tickerSymbol":"TSXV:CUU","sameAs":[],"image":"https://investingnews.com/media-library/tsxv-cuu.jpg?id=27865977&width=980","logo":"https://investingnews.com/media-library/tsxv-cuu.jpg?id=27865977&width=210"} Press Releases Company Profile Weekly gain: 126.19 percent; market cap: C$363.15 million; current share price: C$0.48Copper Fox Metals is an exploration and development company with assets located in the US and Canada. Copper Fox’s primary projects include the Schaft Creek joint venture, and its wholly owned Van Dyke and Eaglehead projects.The Van Dyke copper oxide property is located within the Globe-Miami copper district of Arizona. According to a December 2020 preliminary economic assessment, the brownfield project is projected to produce about 1.1 billion pounds of copper over a 17 year mine life. Initial capital costs are set at US$290.5 million. The Eaglehead copper porphyry project is near Dease Lake, BC, and hosts four open-ended porphyry deposits. An October 2023 resource estimate outlines an indicated resource of 345 million pounds of copper and 16.9 million pounds of molybdenum, as well as an inferred resource of 1.3 billion pounds of copper and 1 billion pounds of molybdenum.The company also operates and holds a 25 percent stake in the Schaft Creek copper porphyry joint venture near Eaglehead, with the remainder being held by Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK).Shares of Copper Fox saw substantial gains last week; however, in a press release on Tuesday (May 14), the company noted it was unaware of any material change that would account for the increased market activity. The jump did come alongside the surging price of copper. Buy now , 3. Desert Mountain Energy (TSXV:DME) {"@context":"http://schema.org","@type":"Corporation","name":"Desert Mountain Energy","url":"https://www.desertmountainenergy.com","description":"Desert Mountain Energy Corp is a forward-looking resource company actively engaged in the exploration and development of Helium and Rare Earth Gas properties in the U.S. Southwest.","tickerSymbol":"TSXV:DME","sameAs":[],"image":"https://investingnews.com/media-library/image.png?id=38312264&width=980","logo":"https://investingnews.com/media-library/image.png?id=38312264&width=210"} Company Profile Weekly gain: 61.54 percent; market cap: C$28.88 million; current share price: C$0.42Desert Mountain Energy is an exploration, development and production company focused on advancing helium, hydrogen and natural gas assets in New Mexico and Arizona, US.Its operations in West Pecos consist of the West Pecos gas field, which hosts 188 wells across 77,000 acres of oil and gas leases and has expansion potential of up to 100 additional wells. The site is also home to a helium processing facility that is capable of producing various grades of helium. The company is working to construct a 60,000 gallon accumulation tank that, when finished, will allow it to process natural gas, condensate and helium. Desert Mountain also owns the Holbrook helium project in Arizona’s Holbrook basin. It is comprised of over 1 million acres of helium prospects and is situated in a region that has historic production of 9.23 billion cubic feet of helium with grades between 8 and 10 percent.Shares of Desert Mountain saw gains this past week after it signed new terms for its strategic partnership with Beam Earth to commence hydrogen exploration in Arizona during Q4 of this year. Under the terms of the Thursday deal, Beam Earth will make a US$225,000 payment to Desert Mountain and will fund the drilling programs, pilot well and engineering for a white hydrogen/helium plant, as well as the planning for a green hydrogen plant in Arizona.Desert Mountain will retain ownership rights for its wells in New Mexico and Arizona, and will jointly share profits from new hydrogen and helium wells in Arizona. Buy now , 4. Surge Copper (TSXV:SURG) {"@context":"http://schema.org","@type":"Corporation","name":"Surge Copper Corp.","url":"https://www.surgecopper.com","description":"Surge Copper Corp is engaged in the acquisition, exploration, and development of mineral properties hosting copper, gold, silver, and molybdenum prospects. The firm owns Ootsa Property, located in central British Columbia.","tickerSymbol":"TSXV:SURG","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=29648259&width=980","logo":"https://investingnews.com/media-library/image.gif?id=29648259&width=210"} Company Profile Weekly gain: 57.14 percent; market cap: C$41.2 million; current share price: C$0.22Surge Copper is a copper exploration company working to advance its Berg and Ootsa projects in BC.In a June 2023 preliminary economic assessment for Berg, which hosts deposits with copper, molybdenum, silver and gold, the company reported a net present value of C$2.1 billion with an internal rate of return of 20 percent. The property has the potential for a 30 year mine life with total payable production of 5.8 billion pounds of copper equivalent. Meanwhile, the 72,710 hectare Ootsa property is host to three advanced-stage copper, gold, molybdenum and silver porphyry deposits. A June 2022 combined mineral resource estimate for the site’s Seel and Ox deposits outlines measured and indicated resources of 1.7 billion pounds of copper, 167 million pounds of molybdenum, 1.6 million ounces of gold and 29.5 million ounces of silver. The company did not report any news last week, but trended upward alongside surging copper prices. Buy now , 5. East Africa Metals (TSXV:EAM) {"@context":"http://schema.org","@type":"Corporation","name":"East Africa Metals Inc.","url":"http://www.eastafricametals.com","description":"East Africa Metals Inc is a mineral exploration company focused on the identification, acquisition, exploration, development, and/or sale of base and precious mineral resource properties in Ethiopia and Tanzania. The company's major mineral properties consist of two projects in Ethiopia, the Harvest Project and the Adyabo Project and one project in Tanzania, the Handeni Properties. Its geographical segments include Canada, Tanzania, and Ethiopia. It has one reportable segment being Exploration and Development of Mineral Properties.","tickerSymbol":"TSXV:EAM","sameAs":[]} Company Profile Weekly gain: 54.55 percent; market cap: C$31.56 million; current share price: C$0.17East Africa Metals is a gold exploration company focused on operations in Ethiopia. Its principal asset is the Adyabo property, in which the company holds a 30 percent net profit interest, with Tibet Huayu Mining (SHA:601020) owning the remaining 70 percent. The 195.2 square kilometer site hosts two mining licenses located in an area known for high-grade gold and copper mineralization. The company also owns a 70 percent share of the Harvest polymetallic project in the Tigray region of Ethiopia, as well as a 30 percent streaming interest in the Magambazi gold mine in the Tanga region of Tanzania. Shares of East Africa saw gains following an announcement on May 10 that Tibet Huayu will be moving forward with mine development activities for the Mato Bula and Da Tambuk mines at the Adyabo property, with construction of roadworks to begin before the end of May. Buy now , FAQs for TSXV stocks ​What is the difference between the TSX and TSXV? The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange. ​How many companies are listed on the TSXV? As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.Together the TSX and TSXV host around 40 percent of the world’s public mining companies. ​How much does it cost to list on the TSXV? There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance. These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports. ​How do you trade on the TSXV? Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours. Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on May 17, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.Article by Dean Belder; FAQs by Lauren Kelly.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.

FXEmpire.com - Natural gas surged to a new trend high of 2.64 on Friday and it continues to trade near the highs of the day, at the time of this writing. That put it up by 65.4% from the April 25 swing low (C). A bullish trend continuation signal was triggered on a rally above Th

FXEmpire.com - Natural Gas Natural Gas 170524 Daily Chart Natural gas tests new highs as the rally continues. Traders stay focused on the recent EIA report, which was somewhat bullish. It looks that short covering may be an important catalyst for the current rally.

FXEmpire.com - Gold Gold 170524 Daily Chart Gold is trying to settle above the $2400 level as traders focus on strong demand from central banks.

FXEmpire.com - Natural Gas Weekly Technical Analysis The weekly candlestick from the natural gas market is very bullish and has slammed into the $2.50 level. All things being equal, this is a market that I think continues to find buyers on dips. And I do think that we just escape

Gold and silver prices both made moves this week, with gold passing US$2,400 per ounce once again and silver finally breaking through the important US$30 per ounce mark. It's the first time the white metal has been there since 2013, and the milestone has sparked speculation about just how high it could go in this cycle.Momentum kicked in on Wednesday (May 15) after the release of the latest US consumer price index (CPI) data. It shows inflation rose 3.4 percent year-on-year in April, the first time it's cooled in 2024. On a monthly basis it was up 0.3 percent.The US Federal Reserve's target for inflation is 2 percent, and the first quarter's higher CPI readings have weighed on hopes for interest rate reductions. CME Group's (NASDAQ:CME) FedWatch tool now shows that most market participants don't expect the central bank to start cutting until its September meeting. On Thursday (May 16), several Fed officials emphasized separately that they want to see more evidence that inflation is cooling before rate cuts begin. The next Fed meeting is set to take place from June 11 to 12. Bullet briefing — Burry gets into gold, Biden bans Russian uranium Burry adds physical gold trust to portfolioMichael Burry of "The Big Short" fame made headlines this week when new regulatory filings showed that his firm added over 440,000 shares of the Sprott Physical Gold Trust (ARCA:PHYS) to its portfolio in Q1. The trust now makes up 7.37 percent of Scion Asset Management's holdings, and is its fifth largest component.We last spoke about Burry in November 2022, when he said on X, formerly Twitter, that he's long thought the time for gold would be when "crypto scandals merge into contagion." He didn't elaborate and ultimately deleted the tweet, but at the time market watchers saw it as a reference to the collapse of crypto trading platform FTX and related issues.While the gold price has been on the move this year, many of the experts I've been speaking with have emphasized that a gaining traction with a wider audience — as it seems to be doing — will help it really take off. Biden bans Russian uranium importsThe uranium sector has been quieter for the last few months, but it was back in focus this week as US President Joe Biden signed into law a bill banning imports of uranium products from Russia. The Prohibiting Russian Uranium Imports Act has been making its way toward the president since late last year, and was widely expected to pass. The ban is scheduled to go into effect on August 12, although waivers will be available for utilities until January 2028. Since it got the green light, Russian state-owned uranium supplier Tenex has sent out a force majeure notice and told its US customers they have 60 days to get waivers. The company's message went to American utilities including Constellation Energy (NASDAQ:CEG), Duke Energy (NYSE:DUK) and Dominion Energy (NYSE:D). Additionally, the US government has issued a notice saying that next month it will be asking American suppliers to bid on contracts for as much as US$3.4 billion worth of low-enriched uranium. Currently the country has only one commercial enrichment facility. It is located in New Mexico and owned by Urenco. Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.And don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

The gold price has hit record levels in 2024, leaving investors wondering just how high it can go. During a recent webinar presented by the Mining Network, host Simon Catt, asset management director at Arlington Group, was joined by a group of industry veterans who gave their thoughts on where gold and silver may be going.The group was comprised of Eric Sprott, founder of Sprott Securities and Sprott Asset Management; Franco-Nevada (TSX:FNV,NYSE:FNV) founder and Chair Emeritus Pierre Lassonde; Ned Naylor-Leyland, gold and silver fund manager at Jupiter Asset Management; Luke Gromen, founder of macroeconomic research firm Forest for the Trees; and Michael Oliver, founder and CEO of technical research firm Momentum Structural Analysis.Read on for an overview about what they said about the future of the yellow and white metals. Historic precedent for gold price gains 2023 saw the gold price trading between support and resistance as investors kept to the sidelines and favored the high yields and safety of the bond market and interest-bearing assets.This year, markets are on edge due a slew of factors, including a volatile macroeconomic situation, spiking sovereign debt, grinding conflicts in Eastern Europe and the Middle East and an upcoming election in the US that is all but guaranteed to create deeper divisions within the world’s largest economy.Oliver sees a situation starting to play out that is reminiscent of the gold bull markets that ran from 1979 to 1980 and 2010 to 2011. “I think we have the most interesting set of dynamics for this year that we’ve ever seen in markets compressed into a short-term period of time,” he said during the panel.Like today, these were periods of high volatility. The end of the 1970s brought staggering growth in inflation, and central banks responded with skyrocketing interest rates; meanwhile, 2010 saw interest rates fall to near 0 percent on the back of a recession caused by an imploding housing market in the US.In both cases, investors looked to hedge their portfolios with gold and drove the price to new highs. youtu.be GOLD: The Real Thing? Pierre Lassonde, Eric Sprott, Michael Oliver, Luke Gromen & Ned Naylor-LeylandWatch the full Gold: The Real Thing panel.What came after? Oliver said that both gold and silver prices saw huge gains. “During those times not only did gold and silver go vertical, but silver outpaced gold by double and triple," he noted.He believes a similar situation is setting up in 2024 with instability in the financial system, geopolitical uncertainty and a reverberating sense of nervousness in the markets.Lassonde also looked back to the 1970s, recalling an inflationary environment that bears similarities to today. He pointed to increasing US debt, with a US$2 trillion per year deficit and policies that are injecting more cash into the market. “They’re printing money, and when you’re printing money, you’re going to create inflation and it’s going to be very, very sticky,” he told listeners during the online event. De-dollarization boosting global gold demand Gromen intimated that America's high debt load is reducing confidence in the US dollar as a global reserve currency and causing a reduction in foreign holdings. Instead, central banks are moving to gold as a means to diversify.He pointed to China, which has been making bulk purchases of gold as a matter of national security as it attempts to limit its use of the US dollar and deals with a global distrust of the yuan for trading commodities like oil.“Yuan oil demand is turning gold back into an oil currency, and on an annual dollar production basis the oil market is 12 to 15 times the size of the physical gold market,” Gromen said.This sentiment was echoed by Lassonde when he spoke about the future of the greenback, noting that gold isn’t needed when the dollar performs its function as a reserve currency. “But when it doesn’t, that’s when gold usually shines,” he said.Lassonde also suggested that actions from the US have effectively weaponized the dollar.Against that backdrop, some countries, like those in the BRICS bloc, have become frustrated with the US and are pursuing their own system. Lassonde sees this manifesting in strong central bank buying of gold, noting that more than 1,200 metric tons were accumulated in 2023, representing over a third of the 3,400 metric tons produced.He also pointed to another entity in the over-the-counter market that has been driving the gold price, but said he doesn’t think it’s central banks. Simply calling it a "whale," Lassonde said he's seen moves in the market where calls have been bought at higher prices. “Is it Chinese interests that are doing this? I don’t know. Nobody knows. I’ve asked around, nobody knows, but it is a very interesting time in the gold space right now,” he said. Is silver due to follow gold higher? While there has been a lot of media attention surrounding gold as price records continue to be set, silver too has benefited, and may be poised for an even greater surge. As a monetary metal, silver is influenced by the same macroeconomic and geopolitical variables as gold, but it has an additional industrial component that is spiking demand.While Gromen still sees silver as a monetary metal for the masses, he doesn’t see it being useful to central banks that are looking to deleverage their debt. He said if that happened it would drive the price of the white metal in ways that would ultimately collapse the economy, likening it to oil and copper.“If you take oil up from US$80 a barrel to US$400, the global bond market is going to collapse, and the bottom half of the global population is going to starve. If you did so with corn, if you did so with wheat, if you did so with copper — same sort of dynamic. Those are very useful commodities,” Gromen said.While bullish on silver, Sprott believes the market is manipulated and the price is suppressed.“I look at what happened on the last day of March, and the price of silver looked like it wanted to go when it was being suppressed … I’m assuming that the guys who are short the 800 million ounces of silver on the COMEX didn’t want the price to explode for quarter end, which of course is very important to banking institutions. Needless to say, from that day on silver has basically gone straight up,” Sprott said. Silver surged above US$30 per ounce on May 17.Sprott said that according to the Silver Institute, demand for silver is outstripping supply by 200 million ounces. A considerable portion of that demand is silver destined for India, which purchased 76 million ounces in February, representing nearly all the production of silver for the month, and another 32 million ounces in March.In addition to Indian demand, Sprott spoke about how there is a push in China to invest in silver. “China has come out in advertisements on TV suggesting their citizens should buy silver rather than gold. Now, that is a rather dramatic thing when you’re thinking that 1.4 billion people over there are all buying silver when there is already a shortage,” he said.Naylor-Leyland also touched on the theme of silver market tightness during the webinar, saying the market imbalance is favoring a rise in price based solely on industrial demand for the white metal. He also suggested that a positive shift in investment could send the silver price soaring. “I think that the market at some point will have to understand that the silver is going to come from somewhere, and then I see that as the best, most obvious way that investors can benefit from a big rewriting of the mining equity space,” he said. How high can gold and silver prices go? Overall, the panelists see variables aligning to support a surge in prices for monetary metals.Lassonde believes one possible outcome is the ratio between gold and the Dow Jones Industrial Average (INDEXDJX:.DJI) becoming 1:1. Citing historical events to support this claim, he noted that it’s happened twice over the past 120 years. The first instance was after the Great Depression, when the Dow lost 90 percent of its value between 1929 and 1934, going from 380 points to 36, matching the price of gold at the time.The second was from 1979 to 1980. Lassonde explained that after it peaked at over 1,000 points in 1966, the Dow retreated to around 600 points by the mid-1970s. This came alongside the end of the gold standard in 1971, and the price of gold moved higher. By 1980, the Dow had recovered to 819 points and gold had soared to US$800 per ounce. “Do I believe it’s going to go back to 1:1? Maybe, but maybe at that point the Dow is not 37,000, it may be half of that. Okay, so if you say it goes back to 2:1 and the Dow stays where it is, that’s still close to US$19,000 gold. And if the Dow goes back down to 20,000 and it goes to 1:1, you’re still looking at US$20,000 gold,” he commented.Lassonde noted that the gap between the last two times for gold to reach parity with the Dow was 46 years, which he thinks would be a reasonable timeframe again — it could then occur in 2026 or 2027. On a more immediate timeline, he said the gold price could easily reach US$3,200 within the next 12 months.He's also predicting that the gold-silver ratio will go to 70:1, taking silver to US$40 over the next 18 months.Though Lassonde’s predictions may seem high, he wasn’t alone on the panel. Pointing to previous shifts from bear to bull markets, Oliver suggested a seven to eightfold price movement isn't out of line, which would lead to US$8,000 gold. He also suggested that silver could potentially rise to above US$200 in those circumstances. Gromen anticipates similar gains, calling for a near-term gold price of US$3,000. He thinks it will move quickly and will rise more significantly in the longer term, basing his call on the gold price as a percent of US foreign-held treasuries.From 1970 to 1989, the percentage was never less than 20 and averaged 40 percent; however, when the global economy was concerned about the US dollar in the late 1970s, it grew to 135 percent. Following the collapse of the Soviet Union, it declined to 5 percent and today it’s at 7 percent. Gromen said the low ratio, along with the debt crisis, suggests a three time price move to get to the historical low of 20 percent and six times to 40 percent.“US$7,500 on the low end, and in a real dollar crisis you could go 100 percent, right? So you’d have to go up 10 times, 15 times," he explained, adding that his base case is US$7,000 to US$10,000 at the end of the cycle.For his part, Naylor-Leyland opted not to provide a price prediction for gold, instead suggesting it is more about what happens with the US dollar and treasuries, and that gold is more useful when it comes to measuring the strength of local currencies. However, he did note that he could see pullbacks in the next 12 months.When it comes to silver, Naylor-Leyland said he sees a narrowing gap in the gold-silver ratio. He predicts it will drop below 70:1, allowing the silver price to climb above the US$30 level. ​Investor takeaway While gold price predictions of US$7,500, US$10,000 or even US$20,000 might seem like wild theories, it's important to recognize that they are coming from respected industry veterans.When asked for his opinion, Sprott said he could see them all playing out. However, he emphasized that investors can make money without gold making the incredible gains suggested by Lassonde, Oliver and Gromen.“For people to profit immensely from where we are, I mean if it just went to US$3,000 I’m sure the gold stocks would probably go up 100 percent. So that’s probably more what I’d like to leave on the table — that you don’t need to go to any of those levels to be a very successful investor in the precious metals area,” he said. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

In a bid to enhance the North American critical minerals supply chain, the Canadian and US governments announced a co-investment in two Canadian companies under the Canada-US Energy Transformation Task Force. “Canada is positioning itself as a global leader in the supply of responsibly sourced critical minerals for the green and digital economy,” said Jonathan Wilkinson, Canada's minister of energy and natural resources. “Through our work with the United States and other allies, we are developing secure critical minerals value chains that will power a prosperous and sustainable future," he added in a Thursday (May 16) press release. The countries' goal is to accelerate the development of crucial minerals essential for the defense, clean energy and high-tech industries, ensuring secure and sustainable supply for the continent.Fortune Minerals (TSX:FT,OTCQB:FTMDF) and Lomiko Metals (TSXV:LMR,OTCQB:LMRMF) are the recipients of the funds, with the latter set to receive up to C$7.5 million from the Canadian government, matched by an additional US$6.4 million from the US Department of Defense’s Defense Production Act Investments Office.The funds will help advance the NICO project, which is focused on cobalt, bismuth, copper and gold.Robin Goad, Fortune's president and CEO, expressed his appreciation for the grant, commenting in a release, “It has been difficult attracting investment funding for essential Critical Minerals projects in traditional capital markets. We are therefore grateful for the U.S. Defense Department’s timely and strategic financial support to enable Fortune Minerals to accelerate development of the NICO Project to provide additional domestic capacity and security of supply.”Located in the Northwest Territories and Alberta, the NICO project aims to become a reliable North American supplier of cobalt sulfate, which is crucial for the lithium-ion battery industry. The company also has plans for a hydrometallurgical refinery in Alberta to process mined concentrates into valuable metals and chemicals.Lomiko Metals will receive C$4.9 million from the Canadian government alongside US$8.4 million from the US. The funding will support pilot plant testing to convert flake graphite into battery-grade material, addressing the growing demand for high-quality graphite in the production of electric vehicles and energy storage solutions.The North American critical minerals supply chain is currently challenged by heavy reliance on foreign sources, particularly from politically unstable regions like the Democratic Republic of Congo, which is the top producer of cobalt by far, and countries with strong refining capacities, such as China. Developing domestic resources in Canada and the US is essential to reducing this dependency and ensuring stable future supply of these vital materials.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.

FXEmpire.com - Chinese Silver Demand Demand for silver in China is rising. Priced in US dollars, silver closed at $32.96 on May 17th (Shanghai exchange). Arbiters buy silver at or below $30.00 in the US and sell it at a premium to China. Just a reminder that there is far more fia

FXEmpire.com - Natural Gas Technical Analysis Natural gas has been on a tear as of late and we are most certainly overbought. That being said, you can’t short this market. It’s far too volatile. And of course, what most people do not realize is natural gas really isn’t that big o

FXEmpire.com - Natural Gas Futures Rise Amid Storage Decline and Production Cuts Natural gas futures surged higher on Friday, edging closer to the key 200-day moving average at $2.769. This upward movement is fueled by reduced storage levels, lower production, and anticipated dem

FXEmpire.com - Market Overview Oil prices remained relatively stable in Asian trade on Friday, poised for a mildly positive week. The softer dollar, shrinking U.S. inventorie

John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching. Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances. "We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more interest in the space," Feneck said.In terms of silver, he's encouraged to see it getting close to the crucial US$30 per ounce level after last year's rangebound trading. Moving forward, it's possible US$25 to US$26 may become support instead of resistance. Precious metals stocks on his radar at the moment include Newmont Mining (TSX:NGT,NYSE:NEM), Dakota Gold (NYSEAMERICAN:DC), Golden Cariboo Resources (CSE:GCC,OTC Pink:GCCFF), PTX Metals (CSE:PTX,OTCQB:PANXF), Guanajuato Silver Company (TSXV:GSVR,OTCQX:GSVRF) and Silver X Mining (TSXV:AGX,OTCQB:AGXPF).Copper prices have also rising in 2024, and Feneck is looking at small- and mid-cap companies that haven't moved yet. Among those are NevGold (TSXV:NAU,OTCQX:NAUFF) and Vortex Metals (TSXV:VMS,OTCQB:VMSSF). Moving over to uranium, Feneck remains bullish and is interested in juniors. He mentioned F3 Uranium (TSXV:FUU,OTCQB:FUUFF) and Standard Uranium (TSXV:STND,OTCQB:STTDF) as companies on his list. Watch the interview above for more from Feneck on the resource sector and the companies he's eyeing. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Interest in lithium continues to grow due to its role in the lithium-ion batteries that power electric vehicles (EVs). As a result, more and more attention is landing on the top lithium-producing countries. About 80 percent of the lithium produced globally goes toward battery production, but other industries also consume the metal. For example, 7 percent of lithium is used in ceramics and glass, while 4 percent goes to lubricating greases.According to the US Geological Survey, lithium use in batteries has increased in recent years due to the use of rechargeable batteries in portable electronic devices, as well as in electric tools, EVs and grid storage applications. Manufacturers commonly use lithium carbonate or lithium hydroxide in these batteries rather than lithium metal. Lithium-ion batteries also include other important battery metals, such as cobalt, graphite and nickel.As demand for lithium continues to rise, which countries will provide the lithium the world requires? The latest data from the US Geological Survey shows that the world’s top lithium-producing countries are doing their best to meet rising demand from energy storage and EVs — in fact, worldwide lithium production rose sharply from 2022 to 2023, coming in at 180,000 metric tons (MT) of lithium content last year (not including US production), compared to 146,000 MT in 2022. ​What are the top lithium-producing countries? Australia, Chile and China were the top three lithium countries in 2023, and Brazil and Zimbabwe rose significantly in the ranks. Read on for an overview of global lithium production by country. As the EV lithium-ion battery market continues to grow, it’s likely these countries will vie for larger roles in supplying the metal in the years to come. 1. Australia Mine production: 86,000 MTKicking off this lithium production by country list is Australia, which produced 86,000 MT of lithium last year, up from 74,700 MT the year before. Following that increase, it's likely the country's lithium production will see a decline in 2024 as demand for EVs has stalled in the current slowing economic climate, leading to much lower lithium prices. In fact, Australia's lithium miners have already begun to curb production rates. Who owns Australia's largest lithium mines? The Greenbushes lithium mine in Western Australia is operated by Talison Lithium, a subsidiary that is jointly owned by miners Albemarle (NYSE:ALB), Tianqi Lithium (OTC Pink:TQLCF,SZSE:002466) and IGO (ASX:IGO,OTC Pink:IPDGF). Greenbushes has been in operation for over a quarter of a century, making it the longest continuously running mining area in the state. Mount Marion, a joint venture between Mineral Resources (ASX:MIN,OTC Pink:MALRF) and Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460,HKEX:1772), is another key lithium mine in Australia. The mine is located in the Yilgarn Craton, southwest of Kalgoorlie.Australia also holds over 4.8 million MT of identified JORC-compliant lithium reserves, which puts it behind Chile. It is worth noting that most of the country’s lithium supply is exported to China as spodumene. 2. Chile Mine production: 44,000 MTLithium miners in Chile increased the nation's output from 38,000 MT of lithium in 2022 to 44,000 MT last year, making it the second top lithium producer in the world. Unlike Australia, where lithium is extracted from hard-rock mines, Chile’s lithium is found in lithium brine deposits.The Salar de Atacama salt flat in Chile generates roughly half the revenue for SQM (NYSE:SQM), a top lithium producer. The Salar de Atacama is also the home of another top lithium brine producer — US-based Albemarle. In April 2023, market participants and lithium miners were surprised by the Chilean government's plans to nationalize the lithium industry. While ultimately it wasn't a true nationalization, the country is moving to gain controlling stakes in lithium assets in the Salar de Atacama and Maricunga through its state-owned mining company Codelco.SQM has signed an arrangement with Codelco that will allow it to continue operations in the Salar de Atacama until 2060. The two companies will create a new entity for the operations, with Codelco owning 50 percent plus one share of the company. Albemarle recently agreed to a deal that will give it the option to raise its production quota by meeting certain conditions. In March 2024, Chile also opened over two dozen other salt flats for private investment. Freedom_wanted / ShutterstockLithium brine operations in Chile's Salar de Atacama. 3. China Mine production: 33,000 MTChina came third for lithium production in 2023, beating fourth place Argentina significantly. The Asian country saw its lithium supply grow to 33,000 MT last year from 22,600 MT the year prior.China is the largest consumer of lithium due to its electronics manufacturing and EV industries. It also produces more than two-thirds of the world’s lithium-ion batteries and controls most of the world’s lithium-processing facilities. China currently gets the majority of its lithium from Australia, but it is looking to expand its capacity.In January of this year, China announced the discovery of a massive million-metric-ton lithium deposit in the country's Sichuan Province. However, China's lithium production capacity is unlikely to increase much in 2024 as slowing EV demand in the country has in turn dampened demand for lithium. 4. Argentina Mine production: 9,600 MTLithium producer Argentina’s output ticked up by 3,010 MT from 2022, with the nation putting out 9,600 MT in 2023.It’s well known that Bolivia, Argentina and Chile make up the Lithium Triangle. Argentina’s Salar del Hombre Muerto district hosts significant lithium brines, and its reserves are enough for at least 75 years.At present, lithium mining in the country consists of two major brine operations currently in production and 10 projects that are in development. Analysts at consultancy firm Eurasia Group project that Argentina’s lithium production has the potential to grow approximately tenfold by 2027, as per CNBC.One of the largest lithium miners in Argentina is Arcadium Lithium (ASX:LTM,NYSE:ALTM), the result of the January 2024 merger of Livent and Allkem. The new entity is the third largest lithium producer in the world. 5. Brazil Mine production: 4,900 MTLithium production in Brazil has taken off in the last several years, catapulting it onto the list of the top lithium-producing countries. After achieving output of 400 MT or less from 2011 to 2018, the country’s production hit 2,400 MT in 2019. Brazil saw another significant jump last year, when its lithium output rose by 2,270 MT over 2022's 2,630 MT. Brazil's government plans to invest more than US$2.1 billion by 2030 into expanding the nation's lithium production capacity. At the state level, in 2023 the Minas Gerais government launched the Lithium Valley Brazil initiative, which is aimed at promoting investment in lithium mining. The program includes four publicly listed lithium companies with assets in the state's Jequitinhonha Valley: Sigma Lithium (TSXV:SGML,NASDAQ:SGML), Lithium Ionic (TSXV:LTH,OTCQX:LTHCF), Atlas Lithium (NASDAQ:ATLX) and Latin Resources (ASX:LRS,OTC Pink:LRSRF). 6. Zimbabwe Mine production: 3,400 MTZimbabwe's lithium output has grown exponentially in a short space of time. Just a few years ago, in 2021, the African nation's output came in at only 710 MT. As of 2023, that figure has grown by 378 percent to reach 3,400 MT of the battery metal. Total reserves in Zimbabwe stand at 310,000 MT, as per the US Geological Survey.In December 2022, Zimbabwe banned the export of raw lithium in an effort to build out the nation's capacity to process battery-grade lithium domestically. The ban excludes companies that are already developing mines or processing plants in Zimbabwe. Lithium concentrate is now on track to become Zimbabwe's third biggest mineral export, behind gold and platinum-group metals, reported Reuters in November 2023. Lithium-producing countries in Africa have attracted much attention from Chinese firms in recent years, especially Zimbabwe. Sinomine Resource Group (SZSE:002738), for example, bought a stake in Zimbabwe's emerging lithium industry with the purchase of the Bikita mine, the African nation's oldest lithium mine.Zimbabwe's other key lithium mines include Zhejiang Huayou Cobalt's (SHA:603799) Arcadia mine and state miner Kuvimba Mining House’s Sandawana mine. A few other advanced lithium projects reached the pilot plant production stage in 2022 and 2023: Premier African Minerals' (LSE:PREM) Zulu lithium-tantalum project; Chengxin Lithium's (SZSE:002240) Sabi Star lithium-tantalum mine; and Lonosphere Investment's open-pit mine in Mataga Mberengwa. Pilot plant stage production is not typically included in total global lithium supply estimates. 6. Canada Mine production: 3,400 MTCanada's lithium production for 2023 was on par with Zimbabwe's 3,400 MT. The North American nation substantially increased its production of the battery metal with a rise of more than 553 percent from the previous year. While Canada is home to a wealth of hard-rock spodumene deposits and lithium brine resources, much of it remains underdeveloped. In an effort to grow a strong North American lithium supply chain for the battery industry, the government has invested in a number of lithium projects, including C$27 million for E3 Lithium (TSXV:ETL,OTCWX:EEMMF), a lithium resource and technology company, and C$1.07 million to Prairie Lithium.Taking it further, in November 2023, the Canadian government launched the C$1.5 billion Critical Minerals Infrastructure Fund. The fund seeks to address gaps in the infrastructure required for the sustainable development of the nation’s critical minerals production, including battery metals like lithium.Canada's efforts were rewarded in early 2024, when BloombergNEF gave the nation the top spot in the fourth edition of its Global Lithium-ion Battery Supply Chain Ranking. 8. Portugal Mine production: 380 MTPortugal's lithium production dropped by two-thirds in 2022, coming in at 380 MT compared to 900 MT in the previous year. For 2023, the European nation's lithium output remained at 380 MT. The dramatic decline is attributed to public backlash against the environmental impact of lithium mining. Most of Portugal's lithium comes from the Gonçalo aplite-pegmatite field. Despite this lithium-producing country’s comparatively low output, Portugal’s lithium reserves stand at 60,000 MT. 9. United States Mine production: withheldIn the final place on this top lithium-producing countries list is the US, which has withheld production numbers to avoid disclosing proprietary company data. Its only output last year came from two operations: a Nevada-based brine operation, most likely in the Clayton Valley, which hosts Albemarle’s Silver Peak mine, and the brine-sourced waste tailings of Utah-based US Magnesium, the largest primary magnesium producer in North America.There are a handful of major lithium projects underway in the US, including Lithium Americas’ (TSX:LAC,NYSE:LAC) Thacker Pass lithium claystone project, Piedmont Lithium’s (ASX:PLL,NASDAQ:PLL) hard-rock lithium project and Standard Lithium’s (TSXV:SLI,OTCQX:STLHF) Arkansas Smackover lithium brine project. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas blasted through potential resistance at the 200-Day MA on Thursday to hit a new trend high of 2.575. Resistance then kicked in leading to an intraday pullback. That high completed a rising ABCD pattern where the CD leg was 200% of the advance in the AB

FXEmpire.com - Natural Gas Natural Gas 160524 Daily Chart Natural gas tests new highs as traders react to the EIA report, which indicated that working gas in storage increased by 70 Bcf from the previous week, compared to analyst consensus of +76 Bcf.

FXEmpire.com - Gold Gold 160524 Daily Chart Gold pulls back as traders takes some profits off the table near the key resistance level at $2390 – $2400.

Crescent Point Energy (TSX:CPG,NYSE:CPG) is set to acquire SilverBow Resources (NYSE:SBOW) in a deal valued at US$2.1 billion, positioning Crescent as the second largest operator in the Eagle Ford shale. Under a definitive agreement announced on Thursday (May 16), SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock they own, with an option to receive cash at a value of US$38 per share, subject to a cash consideration cap of US$400 million.John Goff, chairman of the board at Crescent, said the deal will place the business in a more favorable position. “This is a compelling transaction for shareholders of both companies, creating a premier growth through acquisition platform," he explained. “As Chairman and a major long-term shareholder, it has been exciting to watch this business execute on the strategy management laid out from the very beginning. This combination further positions Crescent as a leading growth business, and we look forward to welcoming the SilverBow team as we continue to build this company."The move aligns with Crescent's long-term strategy of growth through acquisition, focusing on deriving a balanced portfolio of high-quality and long-life assets leading to augmented cash flow. The merger is expected to yield annual synergies of US$65 million to US$100 million through cost savings and operational efficiencies.According to the company, these efficiencies will stem from immediate cost-of-capital savings and enhanced operating capabilities due to the complementary nature of the companies' assets.This acquisition follows the announcement that Crescent will be selling particular non-core assets in Saskatchewan to Saturn Oil & Gas (TSX:SOIL,OTCQX:OILSF) for C$600 million. During the first quarter of the year, Crescent Point also sold its Swan Hills and Turner Valley assets for C$140 million.The SilverBow purchase is designed to create a leading mid-cap exploration and production (E&P) company that is well positioned for sustainable value creation with the stability characteristic of larger operators.Post-merger, Crescent’s board will expand to 11 members, incorporating two SilverBow directors. Crescent will remain headquartered in Houston, with Goff being non-executive chairman and David Rockecharlie continuing as CEO.The acquisition is part of a broader trend of heightened M&A activity in the oil and gas industry. In 2023, E&P companies increased their spending on mergers and acquisitions to US$234 billion, the highest in real 2023 dollars since 2012. This surge marks a return to the previous trend of consolidation among US oil and gas companies, following a decline in transactions during the significant oil market volatility of 2020 and 2022.The M&A spending encompasses both corporate mergers and asset acquisitions. Notably, corporate M&A accounted for 82 percent of the total spending, driven by high-profile deals such as ExxonMobil’s (NYSE:XOM) acquisition of Pioneer Natural Resources for US$64.5 billion and Chevron’s (NYSE:CVX) US$60 billion acquisition of Hess. According to the US Energy Information Administration, these deals are the largest by value since Occidental Petroleum’s (NYSE:OXY) US$55 billion acquisition of Anadarko Petroleum in 2019.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Lucapa Diamond Company (ASX:LOM) has announced a strategic decision to divest its 70 percent stake in the Mothae mine in Lesotho as part of a broader plan to streamline its operations and focus on core assets. The Tuesday (May 15) decision comes after the release of the company's first quarter production and sales report at the end of April. In it, Lucapa outlines both achievements and challenges across its diamond operations.In Q1, the company’s Lulo mine in Angola sold 8,746 carats, generating US$9.4 million in revenue.While there were no exceptional diamond tenders during the quarter, a tender in early Q2 attracted US$10.5 million for three high-quality Lulo diamonds, significantly bolstering the company's financials. A cutting and polishing partnership added an additional US$0.2 million in margins for Lulo. Heavy rainfall and flooding in Angola was an obstacle at Lulo in Q1, and it forced the company to mine in lower-grade areas, leading to a 20 percent decrease in carats recovered compared to Q1 2023. Even so, the alluvial plant processed 171,000 cubic meters of material, an 11 percent increase year-on-year, thanks to stockpiled resources.Meanwhile, Mothae produced US$3.7 million in revenue in Q1 from the sale of 7,662 carats, plus US$0.2 million from polished diamond margins. Although the asset saw a 13 percent year-on-year increase in carats recovered and a 16 percent rise in tonnes processed, the lower frequency of high-value diamonds impacted overall revenue.The largest gem-quality stone recovered from Mothae was a 35 carat yellow diamond, but a 65 carat Type IIa diamond was found post-quarter. The company said at the time that it would be monitoring the mine closely.In Tuesday's release, Lucapa Chairman Stuart Brown explained the decision to divest from Mothae. “On review, it is clear the Company should streamline the portfolio to focus on our core assets in Africa and Australia. The Company’s collaboration with the Lesotho Government on the Mothae Diamond Mine has been rewarding and our management have worked exceptionally well to optimise the plant to recover large diamonds. We expect there will be significant interest from those within the diamond industry and on a wider scale," he said. Don't forget to follow us @INN_Australia for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.