Mines Management (MGN) announces first quarter results
Extorre Gold Mines (XG) hits more high-grade gold at Cerro Moro
Spanish Mountain Gold (SPA) advances toward Feasibility Study
Crocodile Gold (CRK) reports first quarter results
Canaco Resources (CAN) delivers initial resource for Magambazi
Aurizon Mines (AZK) reports “excellent” results at Casa Berardi
Gold stocks climbed Thursday morning as the AMEX Gold Bugs Index (HUI) jumped 0.9%, to 591.13. The strength in gold stocks was fueled by another record-setting day for gold bullion, which reached a new all-time high of $1,536.30 per ounce. The S&P/TSX Global Gold Index, Canada’s leading composite of gold stocks, rose 0.5% to 405.87.
Klondex Mines (KDX.TSX) announced the official start of underground mining at its high-grade Fire Creek mine site in Northern Nevada. Yesterday afternoon Klondex completed the inaugural blast of its underground decline at the mouth of the Fire Creek portal. Fire Creek has shown strong indicators of continuity and high grades favorable to underground mining, as [...]
Sunridge Gold (SGC.TSXV) announced assay results for the remaining diamond drill holes from the Company’s Debarwa copper-gold-zinc volcanogenic massive sulphide (VMS) deposit located on the Asmara Project in Eritrea. The 7,000 meter drill program at Debarwa is now complete and was successful in better defining all zones of the Debarwa deposit as well as extending [...]
The gold price rose $4.64 to $1,531.79 Thursday morning as the weaker U.S. dollar helped propel the price of gold to a new all-time high. The rally in the gold price and sell-off in the dollar was fueled by yesterday’s Federal Reserve meeting, along with Fed Chairman Bernanke’s dovish commentary at the first-ever post-FOMC press conference.
Canaco Resources (CAN.TSXV) released an update on the 2011 exploration program at its Handeni Project in Tanzania, Africa. Thus far Canaco’s drilling has concentrated primarily on the gold discovery at Magambazi, where 41,000 meters of diamond drilling has been completed. An additional 29,000 meters of drilling is planned and expected to be completed by September [...]
The U.S. Dollar Index reached 73.05, its lowest level since July 2008, in overnight trading as investors used the Federal Reserve and Chairman Bernanke’s continued dovish stance at its FOMC meeting yesterday as a catalyst to sell the greenback. The weaker dollar helped boost precious metals, as gold futures reached another new record high, hitting [...]
Fed Chairman Ben Bernanke’s press conference was a bit of a snoozer, to say the least. The head of the U.S. central bank largely provided a regurgitation of the FOMC statement, in which the Fed reported that the economy is recovering at a moderate pace, inflation expectations and risks remain muted, QE2 will not end [...]
Gold futures rallied to another new all-time high of $1,524.20 per ounce following today’s Federal Reserve meeting. This morning, gold futures held onto modest gains near $1,510, but eclipsed their previous record high of $1,519.20 following the FOMC statement. In the Federal Reserve’s announcement, Chairman Bernanke and the Fed maintained their dovish stance on monetary [...]
The Fed released its Federal Open Market Committee (FOMC) statement at 12:30pm EST today, ahead of the normal 2:15pm time due to Chairman Bernanke’s first-ever post-FOMC press conference scheduled for 2:15pm. In the statement, Chairman Ben Bernanke and the Federal Reserve decided to complete the current $600 billion asset purchase program (QE2), and again stressed [...]
SILVER PRICE NEWS – Jim Rogers sees the silver price going substantially higher, but is concerned about the pace at which the price of silver has risen over the past year. In an interview with the Times of India, Rogers stated that “I own silver, but if it keeps going up, it could turn into [...]
