Canarc Resource reports an arrangement of a non-brokered private placement financing for up to CA$600,000. The private placement consists of up to 5,000,000 units priced at CA$0.12 each for gross proceeds of up to CA$600,000. Each unit consists of one common share and one half share purchase warrant. Each full warrant can be exercised to purchase an additional common [...]
MarketWatch reports gold fell for the first time as the dollar rises with a downward pressure on prices while the $700 billion rescue plan is in the hopes of passing. Gold surged more than $25 overnight, reaching $920.20, as “the bailout rejection triggered a run” in gold prices and “safe-haven demand continued to flow into the market,” said James Moore, [...]
Thomas Financial News reports the world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust jumped by around 30 tonnes on Monday which is the 2nd biggest in one day. Total holdings jumped to over 750 tonnes — about a third of global gold mine output — which appeared to be a new record high, and [...]
National Post reports Goldcorp’s Red Lake mine is expected to increase production starting in 2009. “We forecast an increase in gold production, from the 625Koz estimated for 2008, to a sustainable level of 800Koz/yr starting in 2009.” Mr. Curran maintained his “top pick” rating and $47 price target on Goldcorp stock, noting that cash costs at [...]
EXMIN Resources reports finalizing agreement with Canarc Resource for a joint venture option on a portion of its 45,000 hectare Batopilas project, Mexico. Canarc can acquire up to a 75% interest in a 791 hectare portion of EXMIN’s Huimayvo concession (hereafter termed the “Santiago Fraction”), which surrounds the 171 hectare Santiago Gold Project, by issuing 15,000 common shares (issued), [...]
Reuters reports gold has a bright outlook with industrial demand for the metal and renewed interest in gold futures by stock market fugitives says a director at AngloGold Ashanti, the world’s third-largest gold miner. “We are excited about the future because we think it has a place in the stability of the different currencies and there is a [...]
MarketWatch reports gold futures rise above $900 an ounce Monday on safe-haven buying while the $700 billion plan to rescue the U.S. financial markets. Meanwhile the U.S. dollar rose sharply against its major rivals, limiting gains in dollar-denominated gold prices. Gold for December delivery rose $14.50, or 1.6%, to $903 an ounce on the Comex division of [...]
Golden Oasis Exploration reports its results from a 6 hole RC drilling program totaling 3,250 feet at its Toiyabe property, Nevada. Two holes targeted expansion of the Courtney B Fault mineralization and the remaining holes targeted postulated northwest trending feeder faults in the Courtney West area. Drill holes T-801 and 802 intersected the first high-grade gold discovered [...]
Serengeti Resources reports that Newcrest Mining begins a 4 hole, 2,500 meter drill program on Serengeti’s Croy Bloom/Davie Creek, Quesnel, British Columbia. The Croy-Bloom property is located within two kilometers of a logging road spur from the Kemess Mine haul road in the Johansson Lake area of the northern Quesnel Trough. Prior work by Serengeti and others has [...]
By Dave Brown – Exclusive to Gold Investing News The latest victim of the credit crunch was Washington Mutual Inc., a large Seattle based consumer and small business banking company that was established in 1889, as the Federal Deposit Insurance Corp. seized its assets on Thursday, selling some of it to JPMorgan Chase & Co. The [...]
Tuesday, September 30, 2008