Gold is being amassed largely on the fears that the global currency system is flawed, and bears also believe American and Chinese economies are headed for another fall. However, there is a deep economic imbalance that is rapidly being righted that can result in a lot of prosperity for all.
PRECIOUS METAL Mining News
Mining has all the elements that make for a good movie: long odds, adventure, conflict, danger, amazing natural scenery, and heroes and villains.
Beaten up gold investor, John Paulson, is a significant Randgold investor who is getting pulled down by trouble in Mali.
Commentator Steve Peel declares that if the UK government sold all its gold at the bottom of the market, bullion must have reached a top if the country is buying again.
"The only thing that's got us up is oil," Frank McGhee, senior precious metals dealer with Integrated Brokerage Services in Chicago told The Wall Street Journal.
The Midas Letter Opportunity Fund, a new niche fund, focuses on early-stage micro-cap miners in the junior resource sector.
On Thursday, gold prices declined to $1,642.50 per ounce, while silver fell nearly 90 cents to settle at $31.35.
In an interview with Louis James, the inimitable Doug Casey throws cold water on those celebrating the economic recovery.
There is no doubt that copper mining is a big business in Arizona, supporting over 62,000 jobs and contributing about $7.5 billion to the state’s GDP. But for Arizona to retain its prominent position in the industry, and indeed for the United States to remain a significant producer of the metal, the way that state legislature and national regulations move forward on land and mining rights will be critical.
Gold’s been knocked down lately, but several enduring factors have conditioned the yellow metal for an inevitable comeback.
In its annual ranking of countries in terms of political risks for mining investment, the mineral industry advisory firm Behre Dolbear, has ranked Australia, Canada, Chile, Brazil and Mexico as the top five nations in which to locate mining projects.
India is hoping to bury the hatchet with its historical rival Pakistan, at least enough for both sides to benefit from a massive iron ore deposit in Afghanistan.
“Sentiment towards gold is as low as it has been for many years, possibly since the rally started. ... For virtually the first time this cycle, buying gold is a contrarian trade.”
Beijing launched the new spot price platform in January in a bid to shift the balance of power in price negotiations away from the big three.
La Mancha Resources Inc. (TSX: LMA, hereinafter "La Mancha" or the "Company") is pleased to announce that Proven and Probable gold reserves (the "reserves") at its Australian Frog's Leg mine have increased by 36% following the successful completion of a new upgraded mine plan that incorporates the significant resource increase announced in March 2011.
Gold's performance has eclipsed that of gold mining stocks this year, but gold equities now are likely to take the upper hand as the flow of cheap US cash slows and miners boast juicy margins and good growth prospects. Gold's status as a quasi-currency and safe haven has helped pushed the price of the metal up about 20 per cent since the start of the year to above $US1,520 an ounce, making it one of the top performing asset classes of 2011.
Eyeing potential for high-grade gold tonnage, Canada's Southern Arc reports on another swelling gold-silver mineralized vein in Indonesia. A zinger of a drilling result - wide with high-grade gold mineralization - propped up Southern Arc Minerals' theory that the Pelangan target on its West Lombok property in Indonesia may hold other bonanza-grade ore shoots.
With the gold price regularly hitting new heights, separate articles in the May issues of International Mining and Mining Magazine look at new and old technologies to maximise recovery from the ore. The articles can be found in International Mining, pps. 68-76 andMining Magazine, pps. 57-67.
Gekko Systems announced the opening of the company’s Assay Laboratory located in Ballarat. The assets were purchased by Gekko from Balmaine Gold Pty Ltd, a subsidiary of Castlemaine Goldfields Ltd (ASX: CGT). Originally established by […]
Dundee Precious Metals’ Chelopech mine has selected Gemcom InSite as its mine production management solution for its mining and processing operation. Chelopech is an underground gold, silver, and copper mining and processing operation located in Bulgaria.
Gekko has developed a bowl replacement system for all common batch centrifugal concentrators including the InLine Spinner and other gravity gold recovery devices. Read more
Finning International has announced that its Canadian division has been selected as the mining equipment supplier by Thompson Creek Metals Co for their Mt Milligan copper-gold project. Read more
Xstrata Copper announces the completion of construction of the magnetite base plant at Ernest Henry Mining (EHM), a key component of the AUD589 million (US$542 million) project to transform EHM into a major underground copper-gold […]
On Thursday, Fronteer Gold announced that all its outstanding shares will be acquired by Newmont Mining. Size of the deal is $2.3 billion. Read the full story
EnviroXtract Signs MOU to Acquire Precious Metals Processing Technology License and Announces Expansion
EnviroXtract, Inc. has signed a Memorandum of Understanding with Colten Energy, LLC to acquire a licence for a proprietary technology that will enable the company to extract gold, silver, and other precious metals from ore […]