Friday, June 8, 2012

MINEWEB.COM'S TOP STORIES: Gold, silver miners to benefit from favorable prices over next 2 years-S&P

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TOP STORIES | Friday , 08 Jun 2012                                                     

Gold, silver miners to benefit from favorable prices over next 2 years-S&P

Standard & Poor's has assigned a "B" corporate credit rating for Allied Nevada with a stable outlook based on favorable outlook for metals prices and significant reserves.    Friday , 08 Jun 2012

Knee jerk gold plunge after Bernanke statement doesn't promise more QE

Fed chairman Ben Bernanke's statement Thursday was, in reality, a non-event, but the gold price dived anyway when he refrained from suggesting any likelihood of monetary easing ahead.    Thursday , 07 Jun 2012

Forest fires, power outages fail to derail Young-Davidson gold mine start-up

AuRico Gold says the Young-Davidson gold mine has already yielded 4,660 ounces of gold before the operation achieves commercial production in the third quarter of this year.    Friday , 08 Jun 2012

Uranium stock rerating ahead as supply/demand gap looms

With Japan set to restart reactors and Russia's Megatons to Megawatts program near its expiration date, Analyst Edward Sterck thinks uranium stocks could pick up momentum. Energy Report interview.    Friday , 08 Jun 2012

As India's richest ranks swell many head for gold

Rich Indians, whose numbers have soared in 2011, are keen to buy large quantities of gold, moving assets out of the financial system.    Thursday , 07 Jun 2012

Gold slumps and central bank double speak

Ben Traynor says there remains a significant chance we will yet see more Fed QE. But things may need to get quite a bit worse first.    Friday , 08 Jun 2012

Seafield shares jump, but dour day for Venture board

Most shares were in the dumps Thursday among juniors in Canada, though Seafield, with strong drilling results, was a notable exception.    Thursday , 07 Jun 2012

South African mining at a cross roads - Carroll

According to Anglo American CEO, Cynthia Carroll, South Africa's policy choices over the coming weeks will profoundly impact not just the mining industry but also the country as a whole.    Thursday , 07 Jun 2012

Santacruz Silver takes two crucial steps toward silver production in Mexico

Santacruz Silver took another couple key steps in its quest for silver producer status in early 2013.    Thursday , 07 Jun 2012

Glencore CEO defends bumper executive pay

This comes after some shareholders criticised proposed retention payments for Xstrata's top managers as excessive, stoking fears the backlash could threaten the all-share deal.    Friday , 08 Jun 2012

Peru opens inquiry against Newmont mine foe

Public prosecutors have opened an inquiry against Gregorio Santos, a leading opponent of Newmont's Conga mine, who apparently made comments demanding the removal of President Ollanta Humala from office.    Friday , 08 Jun 2012

Southern Copper seeks to overturn $2bn judgment

The judgment was awarded by Delaware's Supreme Court in October 2011 in a case brought by investors who accused Southern Copper of overpaying in the 2005 takeover of privately held Minera Mexico.    Friday , 08 Jun 2012

Australia stalls okay of $9.9b GVK coal project

Citing ecological concerns, the Australian government has halted the environmental clearance process for Indian company GVK's coal project, which is to generate 4,000 jobs at peak.    Thursday , 07 Jun 2012

Flinders loses appeal against $550m MMK deal injunction

The Australian miner said Friday a Russian court had dismissed an appeal by MMK against a decision blocking the Russian company's $550 million takeover bid.    Friday , 08 Jun 2012

Coeur d`Alene to buy back $100m worth of shares

Idaho-based gold/silver miner Coeur d`Alene Mines says the share repurchase program represents about 5.3 million, or nearly 6% of its outstanding shares.    Thursday , 07 Jun 2012

Europe steel body asks EU to monitor scrap imports

Steel body Eurofer has asked the EU's executive Commission to monitor countries which are restricting exports of scrap and other raw materials, saying such barriers are unfair.    Thursday , 07 Jun 2012

Aditya Birla earmarks $1.3bn for new plants

The $1.3 billion investments will be made over the next three years to set up new facilities and expanding the capacity of existing units in Karnataka.    Thursday , 07 Jun 2012

South Africa's April gold output down 12.8%

Statistics South Africa reports that gold output fell 12.8% in April while total mineral production was down 10.6% compared with the same month last year.    Thursday , 07 Jun 2012

Yesterday's top story: Soros back in gold buying mode, Gartman positive on gold and gold stocks

With a heavy hitter like George Soros back buying gold, and gold and gold stock positive comment from the strongly followed Dennis Gartman, the sector has been seeing some new life.    Thursday , 07 Jun 2012

PODCASTS / RADIO                                                     

Why gold isn't a safe harbour and why it could still go up - Gartman

The Gartman Letter author, Dennis Gartman, looks at why he doesn't see gold as a safe harbour and how he sees the global political mess unfolding over the next few months.

Current gold price action counter-intuitive - Embry

Sprott Asset Management's John Embry believes at current levels gold is offering the finest buying opportunity of the whole 12 year bull market.

Europe, Iran and other Black Swans - Ian McAvity

Ian McAvity looks at some of the major events taking place at the moment and what they might mean for gold, silver and the rest of the commodities complex.

Greek exit scenarios and what it means for gold - Grant Williams

The author of Things That Make You Go Hmmmm..., looks at whether or not an orderly exit is possible and what it all might mean for gold.

 

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ENGINE ROOM

Editorial

Europe

Lawrie Williams, London
Geoff Candy, Groningen

Americas

Dorothy Kosich, Reno
Kip Keen, Halifax, NS

Asia and Australasia

Shivom Seth, Mumbai
Ross Louthean, Perth
Kerry Stevenson, Sydney

Africa

Christy Filen, Johannesburg


Sales and Marketing
Jan Chadwick, International
Wendy Hora, Australasia

 

Production

Lindiwe Molekoa, Johannesburg

Editor in Chief

Alec Hogg, Johannesburg

 

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