Premier Gold Mines (PG) expands management team
Fortuna Silver Mines (FVI) expands presence in Mexico
Aurizon Mines’ (AZK) Board unanimously recommends rejecting Alamos offer
Claude Resources (CGR) expands gold resources and grade at Santoy Gap
Mines Management (MGN) reports “significant progress” in third quarter
Crocodile Gold (CRK) reports 35% production growth
Claude Resources (CRJ.TSX, AMEX: CGR) reported financial and operating results for 2011. The Canadian-based gold mining company generated $9.5 million in net profit, or C$0.06 per share. Cash flow from operations came in at C$22.2 million, or C$0.14 per share. Claude Resources ended the year with C$35.7 million in cash, cash equivalents, and short-term investments. [...]
Precious metals rallied on Friday as modest weakness in the U.S. dollar helped fuel broad-based strength in the commodities complex. Gold futures, per the June contract, settled higher on the COMEX by $17.00, or 1.0%, at $1,671.90 per ounce. For the week, the yellow metal advanced 0.6%, and stretched its quarterly and year-to-date gain to [...]
Earlier today, European officials announced that the European Financial Stability Facility (EFSF) has committed an additional €200 billion in funds to the European Stability Mechanism (ESM) – bringing the total availability to €500 billion. According to the official statement from euro zone finance ministers, “The stability and integrity of the Economic and Monetary Union have [...]
GOLD PRICE NEWS – The gold price held firm on Friday amid weakness in the U.S. dollar and after a mixed bag of data on the U.S. economy. The price of gold climbed to $1,671.34 earlier this morning, but subsequently pared its gains to trade up by just $1.61 at $1,662.60 per ounce. Silver initially [...]
Gold and silver futures recouped their earlier losses in afternoon trading on Thursday amid a broad-based rebound in financial markets. COMEX gold futures fell to as low as $1,646.70 per ounce this morning, but climbed back to $1,662.30 later in the day. Silver futures hit an intra-day low of $31.63 per ounce before bouncing back [...]
Ben Bernanke recently served a guest lecturer at George Washington University, where the Federal Reserve Chairman defended the central bank against various criticisms and argued for the role it played in helping to end the 2008 financial crisis. Bernanke also provided his own criticism, primarily at those who believe a gold standard could have prevented [...]
GOLD PRICE NEWS – The gold price dipped $5.06, or 0.3%, to $1,657.89 per ounce Thursday morning despite two worse than expected U.S. economic reports. The price of gold oscillated around $1,660 in overnight trading and later showed a muted reaction to data on weekly jobless claims and GDP. Silver dropped in concert with the [...]
Gold shares turned sharply lower alongside the yellow metal and broader financial markets on Wednesday amid widespread liquidation on Wall Street. In afternoon trading the Market Vectors Gold Miners ETF (GDX) fell $1.10, or 2.2%, to $48.81 per share – within a fraction of its 52-week low of $48.42 reached on March 20th. In doing [...]
Bill Gross, manager of the world’s largest bond fund at PIMCO, predicted that the Federal Reserve will implement additional monetary easing measures when the current “Operation Twist” program ends in June. In an interview with Bloomberg, Gross said that he sees the Ben Bernanke-led central bank launching a “twist on another twist going forward.” Specifically, [...]
Crocodile Gold (CRK.TSX) announced the acquisition of two gold mines in Australia from AuRico Gold. The two companies entered into a definitive agreement pursuant to which Crocodile Gold will acquire the Stawell and Fosterville mines located in Victoria State, Australia through the acquisition of all of the shares of Northgate Australian Ventures Corporation Pty Ltd [...]
