From Alaska to Scotland, surging gold prices and economic doldrums are pushing miners to strike for yellow metal wealth.
Globe and Mail reported that Iamgold (TSX:IMG) is planning to expand its Suriname-based Rosebel gold mine.
Canada withdrawing from the Kyoto Protocol on the basis of supporting economic importance over environmental interest may be a strong investment opportunity for investors interested in junior gold exploration and development companies.
With gold prices climbing ever higher and a new regime in place, Haiti may finally be able to realize its gold potential, but risks still remain.
Debate over the potential of extensive gold reserves held by central banks to resolve the euro zone's economic problems have been pervasive in recent months just as fear of exposure to the sovereign debt crisis has grown. In fact, reports of the German central bank liquidating some of its gold reserves for the first time in almost a year have surfaced, selling 150,000 troy ounces in October.
Chris Ecclestone, Mining Strategist, explained the potential for gold mining companies, “the interesting thing is that Chinese enterprises in the past have roamed the world searching for base metals and products that they can take back to the mother land. In this case a purchase of a gold company in Brazil, it is definitely a mold breaker. It means that potentially all gold stocks within a certain size are fair game.”
CFTC data suggests that hedge funds are holding their biggest bet on higher prices since mid-September. Money managers raised their combined net-long position in US futures and options by 6.8 percent to 148,279 contracts in the week ended Nov. 1.
Gold followed the equities lower on Friday, as discord among the G20 leaders on boosting the IMF’s firepower to fight the Eurozone debt crisis led to investor apprehension.
Following the massive sell-off of gold in September, the price of the yellow metal has stabilized is headed for recovery after dropping from the record high of $1923.70 on September 6.
Once the gold reserve at a mine has been exhausted, the owner of the mine must rehabilitate the site. Rehabilitation refers to the process of returning mined land to its preexisting condition or a predetermined post-mining use.
Wednesday, December 28, 2011