World's Biggest Gold Producer Establishes Presence In Yukon.
It’s official! The new Yukon gold rush is now in full force as Barrick Gold Corporation, the world’s biggest gold miner, enters the region, joining three other major gold producer. Monday, ATAC Resources (TSX.V: ATC) announced that Barrick will potentially invest up to $63.3 million for the development of ATAC’s Orion Project, which is part of its larger Rackla Gold Property. The deal includes an initial private placement of $8.3 million and a two staged exploration earn-in agreement to acquire 70% of project, valued at $55 million.
Operating Rate at Chinese Zinc Smelters Lower in March on Large Ones, SMM Survey.
The average operating rate at Chinese zinc smelters was 69.4% in March, down 0.4 percentage point from February, according to an SMM survey. SMM adjusted capacity of survey sample to 6.19 million ton per year. Profit at zinc smelters was steady in March since zinc prices stayed high, which incentivized their production.
SMM understands zinc concentrate TCs were traded around 5,350 yuan per ton (zinc content) in March, compared to 5,390 yuan in February. Meanwhile, some smelters recovered from maintenance, adding to output. The average rate at large smelters slid 3.6 percentage points to 77.6% in March. Despite slightly higher output at Zhuzhou Smelter Group and Yuguang Zinc Industry Co., Huludao Zinc Industry Co., Hechi Nanfang Nonferrous Metals Co and Shaanxi Dongling Industry & Trade Group undertook maintenance. Consequently, total output at large ones decreased nearly 14,000 tons in March on the month.
Oil eases from 5-week top, rising U.S. production weighs.
Crude oil eased from a five-week high on Tuesday as rising U.S. shale oil production offset concerns over geopolitical tensions in the Middle East and output cuts being made to support prices. U.S. crude inventories have touched record highs at both the U.S. storage hub of Cushing, Oklahoma, and in the U.S. Gulf Coast in recent weeks, according to U.S. government data. But the market had been pushed higher by tensions following a U.S. missile strike on Syria and a another shutdown at Libya's largest oilfield. Libya's Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April. outage added to a rally that started late last week after the United States fired missiles at a Syrian government air base.
Precious Levels
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2: 29100
RESIST 1: 28900
SUP 1: 28550
SUP 2: 28400
CS SILVER (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 42500
RESIST 1: 42000
SUP1: 41000
SUP2: 40700
Base Metal Levels
CS COPPER (APRIL) OVERVIEW:
TREND : BEARISH
RESIST 2:384
RESIST 1:380
SUP1:370
SUP2:367
CS NICKEL (APRIL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:675
RESIST 1:665
SUP1:640
SUP2:625
CS ZINC (APRIL) OVERVIEW:
TREND : BEARISH
RESIST 2:172.50
RESIST 1:171.00
SUP1:164.00
SUP2:162.00
CS LEAD (APRIL) OVERVIEW:
TREND : BEARISH
RESIST 2: 149.50
RESIST 1: 148.50
SUP1: 143.00
SUP2: 141.00
CS ALUMINIUM (APRIL) OVERVIEW:
TREND : BEARISH
RESIST 2: 127.00
RESIST 1: 125.50
SUP1: 122.50
SUP2: 121.50
Energy Levels
CS CRUDE OIL (APRIL) OVERVIEW:
TREND :BULLISH
RESIST 2:3550
RESIST 1:3500
SUP1:3380
SUP2:3340
CS NATURAL GAS (APRIL) OVERVIEW:
TREND : BULLISH
RESIST 2:218.00
RESIST 1:214.00
SUP1:204.00
SUP2:200.00
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