Spanish Mountain Gold (SPA) launches Feasibility Study
Klondex Mines (KDX) reports “very encouraging” results at Fire Creek
Canaco Resources’ (CAN) gold discovery keeps growing
Claude Resources (CGR) expands gold mineralization at Santoy Gap
Crocodile Gold (CRK) reports completion of Luxor Group bid
Premier Gold Mines (PG) expands presence in Red Lake District
The gold price finished the month of June at $927.40 per ounce, declining $51.75, or 5.3% over the past 30 days. For the quarter, the gold price was down 0.5%, one of the few asset classes showing a loss over the past three months. The decline in the gold price in June pressured gold equities, [...]
The gold price declined $11.72 to $927 per ounce early in Tuesday’s trading session. Liquidation of long gold futures contracts continued as open interest fell. The immediate catalyst for the decline was the release of the S&P/Case Schiller home-price index, which declined at a slightly slower pace than forecast. The index fell 18.1 percent year [...]
The gold price oscillated in a narrow band for the third trading day in a row on Monday, closing at $937.90 per ounce, down $1.70. After trading above $980 per ounce earlier in June, the gold price has drifted lower following a slew of marginally positive data points on the economy, most notably a small [...]
Moto Goldmines’ (MGL.TSX) largest shareholder, Electrum Strategic Holdings LLC., has announced that they will not back the all-stock takeover proposal from Red Back Mining Inc (RBI.TSX). This takeover offer amounts to C$496 million for the purchase of Moto, a price which undervalues Moto according to Electrum CEO, William Natbony. He noted that Moto would contribute [...]
Gold producer, Claude Resources (CGR), reported new drilling results from its Madsen Project in Red Lake, Ontario. The company reported results from 5 holes and intercepted significant amounts of visible gold. Claude reported an intersection of 1.81 ounces per ton over four feet, located 450 feet down plunge. This confirms that the Madsen property does [...]
South-African based gold miner, Gold Fields (GFI), has released production guidance for the fourth quarter of 2009. The overall production forecast is 905,000 gold ounces with cash costs of approximately $525 per ounce. The company’s production estimate is about 4% higher than their third quarter production expectation of 871,000 gold ounces. Gold Fields had previously [...]
Golden Star Resources (GSS) has been informed by the Volta River Authority (VRA) that the company’s electricity rates at its gold mining operations in Ghana will lowered to approximately $0.08 per kWh. The VRA has made this interim rate retroactive to January 1, 2009. After facing a large increase to $0.18 per kWh from $0.10 [...]
International Tower Hill Mines (ITH.TSX) announced the results of its winter drill program that updated the gold resource at its Livengood project, located near Fairbanks, Alaska. The drill program, which consists of more than 189 holes, has increased the gold resource in the indicated category to 4 million ounces from a previous 3.41 million gold [...]
Base metals producer, Teck Resources (TCK/B.TSX), announced early Thursday morning that it was lowering production guidance for its Highland Valley mine in Canada. The 2009 estimate for copper production was reduced by 35 million pounds (12%) to 258 million pounds. The company’s 2010 copper production forecasts were also reduced by 115 million pounds (38%) to [...]
Canadian-based gold explorer Seabridge Gold (SA) announced that it has signed a letter of intent with BonTerra Resources (BTR.TSXV) to sell its interest in the Red Mountain property, located in British Columbia, Canada. The price paid by Bonterra will be C$7 million in cash plus a C$5 million convertible debenture. Seabridge CEO Rudi Fronk expects [...]
