The euro currency turned sharply lower in mid-day trading on Thursday amid reports that European policymakers will not be able to reach a decision on leveraging the European Financial Stability Fund (EFSF).
Earlier this week financial markets surged amid a report – which turned out to be erroneous - from The Guardian that euro zone officials agreed to expand the EFSF to €2 trillion.
The euro fell from over 1.38 against the U.S. dollar to as low as 1.3658 early this afternoon after the German ruling coalition announced that any plans to leverage the EFSF will not be reached at this weekend’s European Union summit.
U.S. equities followed the euro lower, with the Dow Jones Industrial Average (DJIA) turning an earlier 62.37 point rally into an 81.77 loss at 11,422.85. Gold futures extended their losses as well, with the COMEX December 2011 contract dropping $36.20 to $1,610.80 per ounce.
Crocodile Gold Hits More High-Grade at Crosscourse
Crocodile Gold’s management team believes the Crosscourse deposit is an excellent target on which to concentrate exploration efforts because of its proximity to the Union Reefs mill. It is anticipated that an underground mining center at Crosscourse can be defined and brought into production fairly quickly, supporting the Company's strategy to add low cost, high grade production to the near-term mine plan. Full Crocodile Gold News Release.
- 8.89 grams per tonne (g/t) gold over 12.3 meters (m).
- 4.51 g/t gold over 14.08m, including 16.2 g/t gold over 3.8m.
- 13.28 g/t gold over 3.65m.
- 14.83 g/t gold over 2.1m.