Randgold Resources: Fast Track Mali Project
November 10, 2009 By Leave a Comment
Reports rising costs but a swing to profit in Q3
LONDON (Reuters) -
Gold miner Randgold Resources (RRS.L) swung into a profit in the third quarter as higher gold sales outweighed rising costs.
It also said on Tuesday it will fast-track its Gounkoto project in Mali and plans to complete a pre-feasibility study on the project, situated 25 kilometres south of the company's flagship Loulo complex, by the end of the first quarter of 2010.
The only pure gold producer in the FTSE 100 index said it moved into a profit of $13.6 million from a loss of $684,000 a year ago. [Read more...]
Allana Resources: Strategic Investment with China Minerals United Management Ltd.
November 9, 2009 By Leave a Comment
Allana Resources Inc. announce that the Company has completed its previously announced Strategic Investment with China Minerals United Management Ltd. (see News Release dated November 4, 2009) by way of private placement financing of Common Shares of the Corporation for gross proceeds of $2,000,000 million through the issuance of 8,000,000 Common Shares at a price of $0.25 per Common Share (the “Offering Price”). [Read more...]
More on this topic
(What's this?)
China’s Factories Improve
(Wall Street Daily, 2/1/12)
Scary: Why China is Buying Gold Like Mad
(Learn Mining News, 1/30/12)
Economist: China Stimulus Could Double in Three Years
(Money Morning, 2/25/09)
China’s Investment Alternatives: Why China Can’t Sell U.S. Treasuries
(Investment U, 2/13/09)
Gold Bullion vs. Mining Stocks
November 8, 2009 By Leave a Comment
Why Gold Bullion May Outperform Mining Stocks
“Bullion is likely to begin outperforming its producers”, the mining stocks, John Roque, managing director at WJB Capital Group, told Bloomberg. According to his technical analysis, “gold should do better than gold equities … it doesn’t mean the stocks won’t perform, but they will likely do less well relative to the metal.”
It’s been 14 months since mining stocks were last as expensive as they are now relative to physical gold. So, mining stocks may turn the performance lead back over to the bullion price. For four sessions in a row gold futures have risen, which the article attributes to the widely held belief that the Fed is going to be slow to raise interest rates. The Fed’s continued inaction is weakening the dollar and that tends to drive the price of gold higher in dollar terms. [Read more...]
Junior Mining Stocks
November 7, 2009 By Leave a Comment
Commentary on 10 Junior Miners: A Victor Gonçalves Interview
VANCOUVER, BC -
The Gold Report: Victor, you and many others were expecting a major pullback in the market and we had some pullback in late October. Is that what you anticipated?
Victor Gonçalves: It's roughly what I expected. It could have gone one of two ways, but technical indicators have been showing that we have one of those triple-top occurrences that cascade on the way down. Preceding that pullback was a broad based rally but it gave a false sense of hope, if you will, in the sense that it wasn't going to go any higher. The TSX, for example, which is mostly what I follow, hit about 11,700 several times and then went down. That's telling me is that we're looking at an interim market top, at least. Whether we're going to have another major crash again now is still in the air. I don't think we're going to have a major, let's say, 50% correction on this dip. I think we might have another shot at a rally before a major correction. And although I do think one is imminent and investors are taking some profits off the table, I haven't seen all the signs a full-up crash this time, and fall-to-winter typically sees seasonal strength. The economic gale-force headwind will be bit of a problem when we get into the seasonal weakness. [Read more...]
Junior Mining Stocks: “Stink Bids”
November 4, 2009 By Leave a Comment
Junior Mining Stock Market Orders, Stink Bids - What, Why and How...
I’m sure you have heard of this term, ‘stink bids’. They are but one way of insuring a low entry price in some of your favorite junior mining companies.
Whenever I hear the term I always think of Doug Casey, Casey Research which is where I recall learning about them years ago.
Many of the junior mining shares are thinly traded and they frequently have large spreads between the bid and ask price. This situation actually sets up the opportunity to place ‘stink bids’. [Read more...]
DRDGold seeks judicial management for troubled Blyvoor
February 8, 2012 By Leave a Comment
JSE- and Nasdaq-listed gold-miner DRDGold on Monday applied for a judicial management order for its underground Blyvooruitzicht gold mine, which, the company said, had been hit by strikes, the strong rand, seismic damage and higher electricity tariffs.
DRDGold CEO Niel Pretorius said the application was being made in order to prevent the Carletonville gold mine from plunging into liquidation.
Anglo appoints Hampton to board
February 8, 2012 By Leave a Comment
Diversified miner Anglo American has appointed Sir Philip Hampton as a nonexecutive director, with immediate effect.
Hampton has served as chairperson of The Royal Bank of Scotland Group since February 2009, and has recently stepped down as chairperson of food retailer J Sainsbury.
Junior Gold Miners ETF