CAPITAL MARKETS

Gold lower, Orocobre rises

The gold price has continued to weaken into the second half of 2018, trading below US$1,250 an ounce on the spot market earlier at a new low for this year as trade tensions continue.

Staff reporter
Orocobre gains on news

Orocobre gains on news

However base metals including copper and nickel closed slightly higher on Friday, as did iron ore.

Despite positive leads from northern hemisphere markets on Friday, the benchmark S&P/ASX200 was in negative territory this afternoon.

Lithium miner Orocobre (ASX: ORE; TSX: ORL) was the top market riser on the index in afternoon trade, up more than 5.3% in a newsy day.

It announced production for the June quarter was the second highest ever achieved, 28% higher than the previous quarter, and would likely equate to lower unit costs.

It also unveiled a six-fold resource increase for the Cauchari lithium joint venture in Argentina which will be the basis for a preliminary economic assessment this quarter.

Despite gold price woes, Canadian explorer GT Gold (TSXV: GTT) closed up 15.58% on Friday to C89c, after last week starting drilling at its high-grade Saddle discovery in British Columbia's Golden Triangle.

Meanwhile money managers say trade jitters are prompting them to look for ways to protect profits in the event equity markets take a dive after years of growth, Reuters reported.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.