Mining, Drilling and Discovery
The action, process or good fortune of discovery or discovering oil, gas or mining deposits. Disclaimer : this page is not intended for any specific nationality or jurisdiction. It is also not intended to solicit clients from any specific jurisdiction including the Republic of Mauritius inter alia.
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Blockchain technology is about to come full circle. The technical ideas that allow bitcoin, designed as a form of digital gold, to operate will soon be used by the UK's government-owned Royal Mint in a new gold-trading system. The 1,000-year-old Royal Mint is working with CME Group—the world's largest futures exchange operator—to put $1 billion worth of gold on a blockchai
"Blockchain technology is about to come full circle. The technical ideas that allow bitcoin, designed as a form of digital gold, to operate will soon be used by the UK’s government-owned Royal Mint in a new gold-trading system."
Gold futures settle lower Thursday, extending recent weakness after notching the ugliest monthly performance in over three years, as investors shun haven assets for riskier stocks and oil.
"Gold’s dip was limited, however, as stocks, oil, bond yields and the dollar bounced around after early-week climbs. But most analysts see little change to a fundamental picture that underpins dollar and interest-rate expectations, which are among the most influential factors for metals."
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"Gold has, as we all know, been a complete dog since the middle of 2011, having lost about 40% of its value. As 2016 began, it looked like gold was ready to reward the bulls again (just as equity bears were all-too-briefly rewarded), but in both cases, things fell to pieces. Looking at gold's front month below, it illustrates the metal's continued weakness since July of this year."
* China curbing gold imports in bid to limit yuan outflow-traders* China gold premium at $24/oz this week vs $30 last week* Despite wedding
"The import curbs may be part of China's efforts to limit outflows of the yuan after the currency's slide to its weakest in more than eight years, traders say. China allows only 15 banks to import gold, including three foreign lenders."
(RTTNews.com) - The Canadian stock market struggled at the open Friday, but has since climbed into positive territory. An unexpected increase in Canad
"The Canadian stock market struggled at the open Friday, but has since climbed into positive territory. An unexpected increase in Canadian employment is providing a boost to investor sentiment this morning."
Gold prices shuffled between gains and losses Friday, as investors weighed the latest U.S. employment report.
"Gold prices shuffled between gains and losses Friday, as investors weighed the latest U.S. employment report."
Gold prices recovered by Rs35 on fresh buying from jewellers and retailers, while silver gained by Rs80 per kg on mild demand from industrial units
" Breaking its three-day losing streak, gold price recovered modestly by Rs35 at the domestic bullion market in Mumbai on Friday on fresh buying from jewellers and retailers."
With the referendum in Italy set for Sunday, there is evidence that experienced investors are doing a bit of safe-haven hedging ahead of the bot.
"There is merit to consider buying gold or a gold miner today ahead of the Italian referendum. The risk/reward is asymmetrical in favor of buying. In plain English, if the referendum is a “no,” there is a $40-$80 upside potential, but the downside potential is $10-$20 if the referendum is a “yes.”
Gold prices climb Friday, paring their loss for the week as the U.S. dollar eases back in the wake of the monthly jobs report.
"Gold futures climbed Friday, paring their loss for the week and putting the metal on track to rise for the first time in four sessions as the U.S. dollar and Treasury yields eased back in the wake of the monthly jobs report."
Senex Energy Limited (ASX:SXY, Senex) today announced the commencement of its FY17 oil and gas drilling program in the Cooper Basin.The current drilling p
"The current drilling program will comprise a multi-well oil campaign including exploration, appraisal and development opportunities, and a high impact unconventional gas exploration well."
The Obama administration announced a ban on new oil and gas drilling in parts of the Arctic and Atlantic oceans throughout Trump's upcoming term.
"The Interior Department’s finalized oil and gas leasing plan for 2017-2022 was originally supposed to open up beaches from Virginia to North Carolina to new drilling, as well as the Chukchi and Beaufort Seas in the Arctic Ocean."
Environmentalists continued calls for President Barack Obama to permanently ban offshore drilling in the Arctic and Atlantic oceans, saying the administration didn't go far enough last month when it excluded drilling leases in those areas for 2017 to 2022.
"Franz Matzner, director of the Natural Resources Defense Council’s Beyond Oil Initiative, said he is optimistic that Obama isn’t finished taking last-minute actions on the environment."
Pioneer Resources Ltd (ASX:PIO) - Mavis Lake's prospectivity and potential has been validated through previous exploration results.
"Drill targets include Pegmatite 18, with high grade spodumene in outcrop, which also exhibits tightly stacked pegmatite lenses situated in a favourable structural regime - providing potential for larger pegmatite emplacements."
Shares in AIM-listed Prospex Oil and Gas skyrocketed today after the firm was given permission to drill a well onshore Poland. Essex-based Prospex said the Polish authorities’ decision meant it had passed the final hurdle and would drill the Boleslaw-1 well on the Kolo licence later this month. Its share went up by more than …
"Shares in AIM-listed Prospex Oil and Gas skyrocketed today after the firm was given permission to drill a well onshore Poland."
KS Orka is now rigging up the second drilling rig on site for the Sorik Marapi geothermal project in Indonesia.
"The KS Drilling rig is now being rigged up on pad E in Sorik Marapi Indonesia. Dati Parker are just about to finish their first well on pad A."
London- Brazil, South America’s strongest economy, had been experiencing great suffering over the last few years due to a shrinking …
"Even the national oil giant, Petrobras, a semi-public Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, had been undergoing investigations after charges of bringing oil money into politics."
U.S. shale producers might be the biggest winners of the OPEC deal, looking to add up to 800,000 bpd in commercially viable production in the near term as oil prices rise
"If anyone is cheering the news of an OPEC deal it is U.S. shale producers. The OPEC agreement sent oil prices shooting up this week, with WTI and Brent quickly surging above $50 per barrel."
National Offshore Petroleum Safety and Environmental Management Authority censors documents sought by Greenpeace
"Australia’s offshore oil regulator is censoring documents about BP’s plans to drill in the Great Australian Bight on the grounds that environmental campaigners could use the information to “oppose all drilling activities”
Nuclear waste is normally a major environmental headache, but it could soon be a source of clean energy. Scientists have developed a method of turning tha
Six years after resolving border disputes in the Barents Sea, a Russian minister said he scheduled a meeting in Oslo to discuss oil and gas work with Norway.
"A September 2010 treaty put an end to nearly four decades of border disputes in the Barents Sea between Russia and Norway. The area of dispute included about 12 percent of the total maritime acreage in the Barents Sea, a region rich in oil and gas reserves."
The U.S. Geological Survey recently announced an estimate of 20 billion barrels of undiscovered, recoverable oil in the Permian Basin, but what does this estimate really mean?
"The Permian Basin lies underneath western Texas and southeastern New Mexico. The geology of the Permian Basin is rich and complex, both horizontally and vertically. The Permian Basin has commercial accumulations of oil and gas in stacked layers, at depths ranging from 1,000 feet to more than 25,000 feet."
2017 could be a surprisingly exciting time for oil and gas developers, as investors begin to return to the oil and gas sector, with Japan leading the way
"Most of that PE money is earmarked for U.S. shale. But this week’s announcements from Indonesia state oil firm Pertamina, and Japanese government arm Jogmec, show that the spending spree may now be extending to global oil and gas assets."
Against the odds, OPEC provisionally reached an agreement on curbing oil production, setting the quota at 32.5 million barrels per day
"But there’s a catch. According to a ZeroHedge tweet, it looks like the OPEC deal would be conditional on a subsequent deal with non-OPEC producers in December to agree on a 600,000-bpd cut. If this is indeed the case, the oil production cut saga and drama will continue to drag on."
An agreement among OPEC members to reduce output by one percent was announced Wednesday morning.
"Details of the finalized agreement among OPEC producers currently remain thin, but a one percent reduction from 33.6 million barrels a day has been announced, according to The Wall Street Journal."
Oil prices continued to surge on Wednesday morning after OPEC released the details of the deal on which it agreed in the early morning
“The sentiment generally is optimistic and positive," Saudi Arabia’s Oil Minister Khalid al-Falih said before the final meeting on Wednesday. “Any production-restraint agreement has to be distributed in an equitable way. We are getting close.”