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
Agnico-Eagle Mines’ CEO and Vice Chairman, Sean Boyd, presented his outlook on the gold market on Thursday following his company’s latest earnings release. The Canadian-based gold miner reported earnings per share of $0.47, which beat the consensus estimate among research analysts. Boyd attributed a considerable portion of the company’s earnings growth to the rising price [...]
In the spirit of the “Ben Bernank” and “Hayek vs. Keynes” videos that poked fun at U.S. government policies in Washington, D.C., one on the debt ceiling has arrived: Raise the Debt Ceiling Rap http://www.youtube.com/watch?v=EoS52fVtVQM Lyrics are below: Raise da debt ceiling! Raise da debt ceiling! Raise da debt ceiling! Raise da debt ceiling! 14 [...]
Precious metals turned lower in late morning trading on Thursday, while the broader equity indices recovered a portion of yesterday’s large sell-off. Gold futures dropped from $1,615 to as low as $1,606.40 per ounce, while silver fell from $40.20 to $39.41 per ounce, as investors sold precious metals following a better than expected report on [...]
GOLD STOCKS NEWS – Gold stocks slid Thursday as the Market Vectors Gold Miners ETF (GDX) dropped $0.63, or 1.1%, to $57.85 per share. Weakness in gold stocks and the GDX was fueled by a 2.0% decline in shares of Barrick Gold (ABX), the largest component of the gold stocks ETF. Barrick, the world’s largest [...]
Spanish Mountain Gold (SPA.TSXV) announced additional results of the in-fill drilling program within the Main and North Zones of its Spanish Mountain Gold Project in central British Columbia, Canada. The results represent approximately an additional 30% of the total planned drill holes that are designed to upgrade mineralization from the Inferred to Measured and Indicated [...]
GOLD PRICE NEWS – The gold price climbed $1.50 to $1,615 per ounce Thursday morning, boosting by ongoing concerns that U.S. policy makers will be not reach an agreement to raise the debt ceiling by the fast-approaching August 2 deadline. The price of gold is hovering just under its all-time high of $1,626 per ounce. [...]
Crocodile Gold (CRK.TSX) announced that the Rising Tide deposit has been added to the Company’s Mine Development Plan and is scheduled for production in 2012. The deposit is located immediately to the north of the Brocks Creek mine site in the Northern Territory of Australia and was previously mined by open pit for 12 months [...]
Earnings season for the gold producers began yesterday after the closing bell and the early results were mixed. Goldcorp (GG) reported earnings of $0.52, largely in-line with expectations. However, the company lowered its 2011 production guidance by 170,000 ounces to a new range of 2.5 to 2.55 million ounces after operational issues at its Penasquito [...]
Agnico-Eagle Mines (AEM) announced second quarter adjusted earnings of $0.47 per share, which beat analyst estimates of $0.43. AEM reported gold production of 239,328 ounces and announced a $70 million strategic investment in Canadian-based Rubicon Minerals (RBY). Goldcorp (GG) reported 2Q earnings of $0.52 per share against analyst estimates of $0.50. While revenues at Goldcorp [...]
Gold futures posted a new all-time high on Wednesday, but turned lower amid widespread liquidation in financial markets and strength in the U.S. dollar. COMEX gold futures, per the December contract, hit a record high of $1,631.20 this morning. In mid-day trading the yellow metal turned south, reaching an intra-day low of $1,611.00, before settling [...]
