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
While the largest gold miner in the world, Barrick Gold (ABX), has not delivered the leverage to the gold price that investors have sought, the company is signaling better times ahead. Barrick Gold reported positive financial and operating results for the second quarter of 2009. The company had quarterly net income of $492 million, or [...]
Goldcorp (GG) released its financial and operating results for the second quarter of 2009. The company recorded adjusted net earnings of $99.2 million, or $0.14 per share, for the quarter. However, a non-cash foreign exchange loss led to a Q2 net loss of $231.6 million, or $0.32 per share. At the end of June 2009, [...]
One company that has certainly given investors leverage to the gold price is Canadian-based Agnico-Eagle Mines (AEM). While many gold miners’ stock prices have failed to keep up with the appreciation in the gold price, AEM shares have outperformed. Over the last four and one-half years, shares of Agnico-Eagle have risen 307% against a 113% [...]
Nevsun Resources (NSU) announced that the Government of Eritrea has provided strong written support for its Bisha project. This satisfies a significant condition contained in its $235 million debt financing package. The release thanks the government for its assistance and support. Nevsun also notes that other ‘various branches of government’ will continue being involved during [...]
The main catalyst for today’s rise in the gold price is the decline in the US dollar relative to foreign currencies. The dollar has dropped due to the better than expected weekly US jobless claims data, which has provided investors with a reason to buy emerging market currencies and sell the dollar, which commonly leads [...]
Premier Gold Mines (PG.TSX) released updated drilling results from its Hardrock Project in Northwestern Ontario. The company continues to define high-grade gold mineralization in multiple zones. In its EP Zone, the highlight of the recent drill results was the discovery of 17.16 grams per ton of gold across 9.5 meters at the South Limb and [...]
The gold price rose for the second day in a row, spiking up $19.00 to $953.40 per ounce at mid-day. After a downward bias for most of the week, the gold price recaptured its entire weekly decline, leaving it virtually unchanged for the week. Economic data was relatively positive over the course of this week, [...]
The gold price continued to move lower early Wednesday morning, bringing its two-day decline to $21.80. Fears of a counter-trend rally in the U.S. Dollar and tighter monetary policy out of China can be blamed for the 2.2% drop in the gold price. In addition to weakness in the gold price, the broader commodity space [...]
A widely-circulated Bloomberg story that ran yesterday and cited the currently high level of real interest rates has been prompting debate amongst market participants. The implications impact all areas of investment, but particularly the currency markets and the gold price. By using the 1.4% year over year decline in CPI versus a 3.7% 10-year Treasury [...]
Randgold Resources (GOLD) has stated its plans for an equity offering of 5,000,000 shares. This global offer is expected to raise $300 million for the company and comes on the heels of the company’s July 16th $488 million bid, along with AngloGold Ashanti (AU), for Moto Goldmines (MGL.TSX). Moto currently possesses a gold project that [...]
