American Bonanza (TSX: BZA) released the results of a Feasiblity Study today at their 100% owned Copperstone project in Arizona. Based on a gold price of $962/oz, the internal rate of return (IRR) is said to be 96.3%. The study sets the Proven Reserves at 255,000 ounces of gold and Probable Reserves at 1,178 ounces. [...]
As an emerging gold producer, San Gold (SGR:TSX-V) is steadily building its production portfolio through continued exploration success on its Rice Lake Project in mining friendly Manitoba. Since it acquired the past producing Rice Lake mine in 2004, the company has nearly tripled its audited gold resources from 550,000 ounces to over 1.6 million [...]
Gold and gold receivables held by euro zone central banks fell by 14 million euros to 240.8 billion euros in the week ending May 15. For full story, click here
The State Administration of Foreign Exchange announced that China’s gold reserves now equal 1054 tons, grabbing the market’s attention and showing that China is beginning to raise its gold reserve as its long-term strategy, not only as an important tool to hedge USD risk, but also to bolster RMB’s globalization with its increased gold reserve. [...]
Gold futures ended sharply higher on Friday after China disclosed that their gold reserves have surged sharply. This also raises the prospects of other central banks and funds to add to their existing reserves. For full story, click here
By Kishori Krishnan Exclusive To Gold Investing News The recent rally in American and Canadian equity markets is soon to give way to a gut-wrenching collapse that will push equities to shocking new lows, with gold prices reacting by rallying to new highs. After having correctly anticipated the timing and extent of the March 9th [...]
India hasn’t asked the International Monetary Fund to sell its gold reserves to raise money for funding poor nations, a senior finance ministry official said Thursday. For full story, click here
Gold explorer Centamin Egypt reported that the reserves estimate for its Sukari gold mine in Egypt had risen by 72 percent to 6.4 million ounces. Chief Executive Josef El-Raghy stated: The ongoing drilling program has been very encouraging, and the company is confident that this will result in further additions to the reserve and resource [...]
By Kishori Krishnan Exclusive To Gold Investing News With friends like these, who needs enemies? Silver and gold have a new best friend amongst their midst – Ben Bernanke. His pronouncement has engineered one of the last decade’s most dramatic turnarounds, with gold price leaping nearly 60 bucks and silver joining in the melee with a [...]
A Hong Kong-listed gold producer, Zhaojin Mining Industry Co, has announced its plans to spend 500 million yuan that is $73.09 million on acquisition of mining assets this year to boost its reserves, down from last year’s 780 million yuan. For full story, click here
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