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Silver pick -
Abcourt ABI.V would be one to take a look at. They have been screaming higher on huge relative volume since around xmas. They released the below drill results a little over a month ago. Market cap is still only at about $17 million.
Abcourt Announces First Drilling Results on Abcourt-Barvue Property
http://finance.yahoo.com/news/Abcourt-Announces-First-ccn-4187660656.html?x=0&.v=1
MONT-ST-HILAIRE, QUEBEC, CANADA--(Marketwire - Dec. 7, 2010) -
Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX VENTURE:ABI - News; FRANKFURT:ABI - News; BERLIN:ABI - News; the "Company") announce that the Company has received the first assay results from its surface diamond drilling program on its Abcourt- Barvue silver-zinc property. The drilling was done on sections 5625 E to 5730 E at depths ranging from 150 to 200 meters from surface to improve the quality of the resources and to augment them. This is done to justify an increase in the size of the proposed mill from 650,000 tonnes to 1,000,000 tonnes annually and at the same time, to reduce the unit mining costs by treating a larger volume of ore annually. As indicated by the following results, this program is very successful, giving on the average of 7.7 ounces of silver and 2.09% zinc per tonne and it is continuing. This drilling program is part of our 2010 drilling program and is paid with funds raised in December 2009.
Assay results for the first six holes drilled on the Abcourt-Barvue silver-zinc property
HOLE FROM TO LENGHT Ag Zn No. Meters Meters Meters g/tonne % --------------------------------------------------------------------------AB10-01 165.00 167.50 2.50 60.12 1.17 --------------------------------------------------------------------------AB10-02 194.00 204.50 10.50 118.95 2.31 --------------------------------------------------------------------------AB10-03 169.00 172.00 3.00 61.77 2.84 --------------------------------------------------------------------------AB10-04 197.80 200.10 2.30 385.24 2.34 --------------------------------------------------------------------------AB10-05 222.10 225.00 2.90 66.48 1.51 --------------------------------------------------------------------------AB10-06 191.50 193.30 1.80 190.24 1.41 -------------------------------------------------------------------------- AVERAGE 3.83 130.69 2.09 --------------------------------------------------------------------------
130.69 grams of silver per tonne is equal to 3.81 ounces of silver per tonne.
True width is about 80% of core length.
All assays were done at Techni-Lab SGB Abitibi, an approved laboratory.
Holes AB10-01 to AB10-06 represents only about 1/3 of the 4,000-meter drilling program.
The Abcourt-Barvue property has 19.6 millions ounces of silver in ore reserves and resources of all categories and 288,000 tonnes of zinc.
About Abcourt Mines Inc.
The Company, Abcourt Mines Inc., is an exploration and development company with strategically located properties in Northwestern Quebec, Canada. The Elder mine with 43-101 gold resources, the Abcourt-Barvue project with 43-101 silver-zinc ore reserves and resources and the Aldermac property with historical copper-zinc resources are all former producers. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back in production (with the main focus currently being on the Elder project) and at the same time, it is working on other projects (Aldermac, Jonpol and Vendome), to increase its mineral resources inventory. A 43-101 resource calculation was recently done for the Elder mine. A positive 43-101 feasibility study was completed in 2007 on the Abcourt-Barvue project. In addition, mill equipment was purchased. To know more about Abcourt, please consult our web site www.abcourt.com and Sedar www.sedar.com under "Abcourt Mines Inc". A small location plan of the Elder and Tagami properties is shown on our web site. A small location plan and longitudinal projection of the Aldermac mineralized zones are also shown on our web site.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-loo king information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Abcourt Mines Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe ", "expect", "anticipate", "intend", "plan", "estim ate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's amended and restated annual information form dated November 26, 2010 and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
This press release was prepared by Mr. Renaud Hinse, a qualified person, president of Abcourt Mines Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Renaud HinseAbcourt Mines Inc.President and Chief Executive Officer819-768-2857 begin_of_the_skype_highlighting 819-768-2857 end_of_the_skype_highlighting / 450-446-5511 begin_of_the_skype_highlighting 450-446-5511 end_of_the_skype_highlighting819-768-5475 begin_of_the_skype_highlighting 819-768-5475 end_of_the_skype_highlighting / 450-446-3550 begin_of_the_skype_highlighting 450-446-3550 end_of_the_skype_highlighting (FAX)rhinse@abcourt.com
Some action here today... could be a wild ride next few weeks.
VGZ up 5.6% $2.64
Only $127 Million market cap
Doubles Estimated Proven and Probable Reserves to 4.1 Million Contained Gold Ounces
•Average annual production 240,000 ounces of gold per year
•14 year life
http://finance.yahoo.com/news/Vista-Gold-Corp-Announces-prnews-2540873284.html?x=0&.v=1
Seems like a low market cap for those numbers, but full feasibility study will not be done until late this year.
"In 2006 we invested approximately $2.0 million in the acquisition of Mt. Todd. Today, the estimated cash flow generated by the potential development of the project, net of all costs and investments is approximately $1.9 billion at current gold prices. As we advance the project through bankable feasibility and commence environmental permitting in this mining-friendly area, we expect this increase in project value to be better reflected in the Company's valuation."
Hedging/protective measures...
What do you use, if any?
You can always buy puts, but that is either impossible or illiquid in most junior miners.
You can buy something like VXX to protect against a general market decline, but it is an inherently worthless vehicle.
ZSL is the ProShares UltraShort Silver. Perhaps buy some of that to hedge/protect gains achieved in silver miners?
Thoughts?
CDY up another 12% $2.18
BIG volume last few days as well. Something is up it seems.
I don"t own it, but I follow TGB for copper.
Cardero CDY up 13.44% yesterday up another 4+% today.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/29/10) - Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU - News)(AMEX:CDY - News)(Frankfurt:CR5 - News) advises that, in view of the unusual market activity in its common stock, the NYSE Amex has contacted the Company in accordance with its usual practice. In this regard, the Company has stated that its policy is not to comment on unusual market activity.
About Cardero Resource Corp.
Cardero's focus through 2011 is to realise the considerable value it believes is locked in its remaining iron ore assets in the Marcona District of southern Peru, and in Minnesota, USA while continuing to progress its base and precious metal exploration projects in Argentina and Mexico, and aggressively seek out and potentially acquire new advanced stage projects. The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the NYSE-Amex (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
Wow:
VANCOUVER, Dec. 29 /PRNewswire/ - Luna Gold Corp. (TSXV-LGC) ("Luna Gold" or the "Company") announces that its Aurizona gold operation, located in Maranhao state, Brazil was the target of an armed robbery early on December 29th.
A group of armed robbers gained access to the site and escaped with approximately 1,500 ounces of gold. No employees were injured during the robbery. Luna Gold has purchased insurance to cover this type of loss with an internationally recognized insurance company and is in the process of filing a claim.
The robbery is currently under investigation by Maranhao State Police.
Luna Gold's President & CEO, John Blake comments, "The safety and welfare of our employees is our highest priority and we will ensure that those involved receive appropriate support and counseling. Theft in this manner is disturbing and regrettable. The company is co-operating with authorities and will update the market when information becomes available."
About Luna Gold Corp.
Luna Gold is a gold mining and exploration company engaged in the exploration and development of gold deposits and advanced stage gold exploration projects in Brazil. The Company is currently commissioning its Aurizona gold mine in Maranhão, Brazil.
Year end picks...
What's for your favorite pick for exactly one year?
Buy this week and sell a year from now before 2011 runs out.
Make that a gain of $18.6% to back above $1!
Up over 10% today! Looks like Dec. 21st may have marked the low as I speculated in that post.
JAG 2011 production target of 225,000 ounces
Market cap only $575 Million
Cash costs not as low yet but improving
TLR in shreds? It's been up 4-5% most of the day and outperforming every other gold stock on my screen.
Yesterday sucked, but mine delays happen. The profits from Butte will still be coming in, just delayed a few months. No big deal IMO.
CXZ +32% $2.32 on no news???
TLR already bouncing back from yesterday's drubbing, top gainer on my screen up 5.75% to $0.90
Timberline Drills 12.1 g/t Gold Over 17.7 Metres at Lookout Mountain
http://finance.yahoo.com/news/Timberline-Drills-121-gt-Gold-iw-3291526279.html?x=0&.v=1
PVG.TO Pretium
Does anyone have their cusip number?
Can't find it anywhere.
I don't think there is one, at least not yet.
Ya Quartermain is the man. I remember many were surprised when he resigned at SSRI - wondering what he would do next, now we know.
PVG.TO interesting...
40 million ounces of gold I hear
$500M market cap
2010-12-21 09:19 ET - News Release
Mr. Robert Quartermain reports
PRETIUM RESOURCES CLOSES INITIAL PUBLIC OFFERING AND THE ACQUISITION OF THE SNOWFIELD PROJECT AND BRUCEJACK PROJECT
Pretium Resources Inc. has closed its initial public offering of common shares and the acquisition of the Snowfield project and Brucejack project from Silver Standard Resources Inc.
Under the Offering, Pretium issued 44,170,000 common shares at a price of $6.00 per share for gross proceeds to Pretium of $265,020,000. The distribution of the common shares under the Offering was qualified by way of prospectus dated December 9, 2010 filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec. The underwriting syndicate for the Offering was led by CIBC, Citigroup Global Markets Canada Inc. and UBS Securities Canada Inc., and also includes BMO Capital Markets, Credit Suisse Securities (Canada), Inc., Dahlman Rose & Company, LLC, GMP Securities L.P. and Salman Partners Inc.
Pretium's common shares will commence trading on the Toronto Stock Exchange under the symbol "PVG" at the opening of trading today.
Pretium used $215,020,000 of the proceeds raised under the Offering to fund the cash portion of the acquisition of the Snowfield Project and the Brucejack Project from Silver Standard. The remaining net proceeds from the Offering will be used to fund the prefeasibility engineering studies and continuing exploration of the Snowfield Project, the Brucejack Project or the Combined Project (defined as the Snowfield Project and Brucejack Project together), to fund the acquisition and exploration of other gold and precious metal projects and for general corporate purposes.
Mr Quartermain, President and CEO of Pretium remarked, "We are very pleased to come to market with two significant gold projects: the Snowfield and Brucejack Projects in northern British Columbia. Our first priority will be to incorporate the 51,100 meters of diamond drilling completed in 2010 into the Combined Project resources, and have already started planning our 2011 exploration program to follow up on the high grade gold intercepts encountered in 2009 and 2010 in the Brucejack area. We believe 2011 will be a very exciting year for Pretium and its shareholders."
TLR -13% $0.89
On sale this morning on a rather minor mine delay.
Their entire market cap is almost as low now as what their driling revenues alone will be next year.
Ouch! Well at least now we can move on. Onward and upward from here.
CDY up 6% and pushing new 2 year highs on big volume.
Still think this will dip back down into the $3s? Been watching this one. It never trades. I guess that when shares become free trading even a little selling pressure can take it down quite a bit.
Most U stocks are hot today - URZ up 10%
But URG down 5%?
Who's got a better platinum play than PLG?
http://finance.yahoo.com/news/Platinum-Group-Metals-iw-1252962246.html?x=0&.v=1
Platinum Group Metals Approves $100 Million Construction Budget and Awards EPCM Contract-WBJV Project 1 Platinum Mine
VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA--(Marketwire - 12/15/10) - Platinum Group Metals Ltd. (TSX:PTM - News)(AMEX:PLG - News) ("Platinum Group" or the "Company") is pleased to announce that it has approved a budget for $100m for the construction of the WBJV Project 1 Platinum Mine. The budget has also been unanimously approved by the Board of Maseve Investments 11 Pty Ltd. "Maseve", the WBJV operating company where Platinum Group holds the right to increase its interest to 74% and Wesizwe Platinum (WEZ-JSE) holds a 26% interest.
Platinum Group Metals as manager of the WBJV Project 1 Platinum Mine, has appointed DRA Mining Pty Ltd. for Engineering, Procurement and Construction Management, ("EPCM") for the surface infrastructure and underground development planned at the WBJV Project 1 Platinum mine. This work has commenced. Project 1 is located near Rustenburg, South Africa and adjoins the Wesizwe Platinum Mine construction. Project 1 also adjoins the Styldrift mine construction and producing Bafokeng Rasimone Platinum Mine, both owned by Royal Bafokeng Platinum Ltd. (RBP - JSE).
R. Michael Jones, President of Platinum Group Metals Ltd., said, "We are pleased that both partners in the WBJV operating company have resolved to move ahead as planned. It is excellent to see such a strong project team, with a successful record working together in the past, being re-assembled so quickly for our WBJV Project 1. We are on track with our implementation plan."
The EPCM contract with DRA will provide approximately 30 full time professionals to oversee and plan the execution of the development of surface infrastructure, power delivery, water delivery, civil works and excavations and the development of underground tunnels to access ore over the next 18 months. DRA's scope of work will include engineering, design, construction management, administration and cost and schedule control. This work is now underway.
DRA is a global engineering firm that has managed more than 55 platinum mine developments and operations in South Africa. DRA will work closely with the Company's Project Manager and Owner's Representative Mr. Thys Uys. Platinum Group Metals and Mr. Uys have recently expanded the owners team to include a dedicated quantity surveyor for cost engineering services, contract and capital control administrators and a permitting consultant responsible for the Environmental Impact Assessment and Management Plan, all who have worked with Thys Uys before on large scale mining construction projects.
DRA has started work on the detailed project implementation for power and water so that as soon as detailed permits for excavations are in place they are able to start work on site. Allocations for construction power and water from existing infrastructure have been confirmed.
The budget developed for underground access has been generally consistent with the budget for such phases of work in the Updated Feasibility Study (October 2009, www.SEDAR.com). The underground mining contract for the sinking of declines will go out to tender in the weeks ahead and a more detailed review of implementation costs will be completed following the award of this contract.
Platinum Group Metals and Maseve have exercised their option to purchase the Sundown Ranch and facilities and have made the required final deposit under this agreement of ZAR117M (C$16.7M). The transfer of the hotel assets to Maseve will occur in the months ahead and the plan is for the hotel and facilities to continue as is as part of the community under a management contract with the current manager. In addition to covering the surface rights over the mining area, the Sundown Ranch will provide part of the housing needs for construction, site offices and facilities and importantly, can be part of a regional training effort for the community.
Platinum Group Metals also announces the appointment of Mr. Herbert Medopi as Manager of Permitting, Government and Stakeholder Relations. Mr. Medopi has a successful track record of ensuring that large scale projects follow a proper permitting process so that all stakeholders can have their views heard and projects can therefore develop in a responsible manner. Mr. Medopi and Mr. Uys have also worked well together in the past.
Milestones over the next 4 to 6 months;
-- Finalization and Department of Mineral Resources grant of the bulk sample permit for underground development and access-- Filing of the Full Mining Authorization Permit application following the grant of the underground development and access permit-- Commencement of Site establishment and excavations-- Award of the mining contract for underground development-- Appointment of the Lead Arranger for Project Finance -Full Mine Construction
Qualified Person
The Qualified Person for this News Release is R. Michael Jones P.Eng. He is non-independent and is the Company's CEO and a significant shareholder of the Company. He has relevant supervision experience in South Africa since 2002 and has experience with feasibility studies and the supervision of precious metals mine operations.
About Platinum Group Metals Ltd.
Platinum Group has an experienced mine building and operating team based in Vancouver, Canada and Johannesburg, South Africa. The Company has started on the construction of a large scale platinum mine in South Africa and is active in platinum exploration in South Africa in Canada.
The Company's main asset is a 74% interest in the Western Bushveld Joint Venture (WBJV) a 275,000 ounce per year mine to produce platinum, palladium, rhodium and gold with a 22 year mine plan. The WBJV is adjacent to 70% of the world's platinum production in South Africa. In addition to the WBJV Project, the Company has two active exploration joint ventures with JOGMEC, the Japanese state owned company. Platinum Group also owns significant mineral rights in the vicinity of North American Palladium Ltd.'s Lac des Iles Mine north of Thunder Bay, Ontario.
Platinum Group recently completed a $143.81 million equity financing to begin development of the WBJV. The Company has been supported by senior institutional shareholders and investment banks over its 10 year history and it is listed as PLG on the NYSE AMEX and PTM on the TSX in Toronto.
On behalf of the Board of Platinum Group Metals Ltd.
R. Michael Jones, President and Director
This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the timing of any debt/financing for Project 1, the potential to increase the Company's interest in certain of its projects and further exploration on the Company's properties. In addition, the results of the feasibility study may constitute forward-looking statements to the extent that they reflect estimates of mineralization, capital and operating expenses, metal prices and other factors. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in market conditions, the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's Form 40-F annual report, annual information form and other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.
The Toronto Stock Exchange and the New York Stock Exchange - NYSE AMEX have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
When they or IF they?
It's been 2.5 months since the engagement letter and not a single peep about it since.
SPM.TO - On 3x volume too. Perhaps a disguntled former employee selling out?
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2010) - Scorpio Mining Corporation (TSX:SPM - News; "Scorpio Mining") announced today that Roger Scammell is no longer an employee of Scorpio Mining and its subsidiaries and will no longer serve as President of Scorpio Mining.
ON BEHALF OF SCORPIO MINING CORPORATION
Parviz Farsangi, CEO & Director
There is? Looks like Agco no longer exists. Who are you referrring to?
Nice!
First Majestic to List on the New York Stock Exchange
http://finance.yahoo.com/news/First-Majestic-to-List-on-the-iw-808622793.html?x=0&.v=1
RBY - waiting for a buyout.
I think that plan stinks.
It amazes me that no one has gone out and copied GORO's business model.
My latest pick is Jaguar JAG.
GRS has been lackluster and there may be oppurtunity there but haven't looked into it deeply yet.
RBY has a huge market cap for a company that is still without an actual mining plan?
MTO.V
Simply trying to warn you that management has a poor track record of over promising and under delivering along with plenty of dilution on the side. Their past actions have a lot of bearing on how they will likely act going forward IMO.
Often times a stock acts like a dog because it is a dog. I understand the concept of trying to unlock hidden value, but all I see here is transparent failure.
Nothing against you at all cork. This board is for open discussion of pros and cons. MTO.V may indeed have some success from here on out, I just think there are better opportunities out there. Good luck.
Platinum - what is the best play?
SWC and PAL are mre palladium focused.
ANO is in South Africa
PLG looks good, but is only an explorer at this point.
What's you fave platinum play?
MTO.V
Looks to me like all the appreciation in the gold price from 1200 bucks to present has been diluted away with multiple private placements and loan restructuring.
I sold my position in them back in September for a small gain after 2 years of delays and dissapointments.
I hope they get it together someday, but my confidence in them is low.
Turned out to be a good move for me as I put the money into Golden Tag. It's more than doubled since then while MTO is down 15%.
Long ago he offered the $1M bet for $1650 gold by mid Jan. 2011. Nobody took the other side.
Both will remain strong, but volatile through March before a typical summer dip to work off what will be the most overbought condition to date.
ICI.TO jump (and MGH)-
Think I found your souce, from one of the email lists I'm on that I just got - its missing links and images:
Two China Gold Stocks Under $2
By Luke Burgess | Friday, December 10th, 2010
The Chinese saw the writing on the wall over a decade ago.
They realized the ultimate fate of the U.S. dollar and the fiat currency system.
So in 2003, the government of China began an aggressive campaign to secure resources of gold.
They began by increasing the country's gold reserves. Since that time, the People's Bank of China has added 21.2 million ounces to the country's gold holdings. China now has the fifth largest national gold reserve, with over 1,054 tonnes in reserves.
While boosting reserves, the Chinese government also began to deregulate the gold mining industry and invite foreign investment for the development of domestic resources. The measures were a runaway success; China is now the world's largest gold producer with output increasing 70% in the past decade.
Chinese government even began encouraging its 1.3 billion citizens to own gold. And today, the country has become the second-largest consumer of gold in the world.
The government's efforts to stimulate and expand the domestic gold market has been highly successful. Chinese citizens have embraced gold as true wealth in all economic seasons.
And now new concerns over the future of the U.S. dollar and domestic inflation has prompted the Chinese to recently begin acquiring gold on a epic scale.
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China's gold imports to jump 457% this year
The Shanghai Gold Exchange recently revealed China's gold imports jumped almost fivefold in the first 10 months of this year.
And even though China is the world's #1 producer, the country is expected to import 9.2 million ounces of gold this year as inflation concerns lifts investment demand.
Consumer prices in China rose 4.4% in October — the fastest pace in two years — and above the government's full-year target of 3.0%.
The People's Bank of China hiked up interest rates in October for the first time since 2007 and ordered banks last month to hold more money in reserve.
Albert Cheng, managing director of the World Gold Council's Far East department, said at a recent conference in Shanghai that China's gold investment demand may reach 150 tons this year — a 42.9% increase compared to 2009.
Chinese Gold Panda Bullion Coins
Gold demand growth in China will continue to be fundamentally supported by infrastructural development that's reaching break-neck speed in some parts of the nation.
This rapid development has created a large middle class with rising disposable income levels. And the Chinese people are well-known earnest savers...
The average savings rate in China is 30% to 40%. Compare this to the average 6% savings rate in the United States.
And with the Chinese now realizing gold is the only real universal store of value, investment demand in China is soaring.
China National Gold Group Corp. reported sales of gold bullion bars jumped 40% in the first half of the year. The state company said that over 70% of the bullion sold was mini-gold bars, which Chinese investors like to hold.
Meanwhile, China's central bank continues to stimulate the domestic gold market by recently allowing to import and export gold and allow overseas companies more access to trading.
In August, Deutsche Bank said China could surpass India as the world's biggest gold bullion consumer in 2011. Dozens of companies are already working to quickly develop new gold projects to supply the Chinese feeding frenzy for the yellow metal.
Here are two companies that are quickly developing gold projects in China...
Minco Gold Corp. (AMEX: MGH, TSX: MMM)
Share Price: $1.89
Market Cap: $92M
www.mincogold.com
Corporate Presentation
Minco Gold is a junior gold exploration company focused on the development of high-grade, advanced-stage gold projects in the Chinese provinces of Hunan, Gansu, Guangdong, and Inner Mongolia.
Minco's current primary focus is the Changkeng Gold Project, located approximately 45 kilometers southwest of Guangzhou, the fourth largest city in China with 13 million people and the capital city of Guangdong Province.
The project is fortunate to be situated close to well established water, power, and transportation infrastructure.
An independent resource estimate for the Changkeng gold project was calculated in 2009. Based on diamond drill data from a total of 127 drill holes and 13 surface trenches, a report estimated the Changkeng project to contain 623,100 ounces of indicated gold resources and 386,800 ounce of inferred resources.
Changkeng Project
Minco Gold has two other gold exploration projects in China — including the 100% owned Yejiaba property, part of the Longnan Project, located in Gansu Province.
The company recently announced the results from this year's exploration program consisting of geochemical, geophysical, and trenching programs that have been completed at the Yejiaba project.
The geochemical soil sampling highlighted numerous gold anomalies over an area of 700 meters long by 150 meters wide. The anomalies are open along strike to the east.
A trenching program was conducted to follow up the gold soil anomaly. Channel sampling from trenches returned high-grade gold values up to 5.58 grams per tonne (g/t) over 4.7 meters and 3.65 g/t over 4.3 meters.
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Inter-Citic Minerals Inc. (TSX: ICI)
Share Price: $1.68
Market Cap: $177M
www.inter-citic.com
Corporate Presentation
Inter-Citic Minerals is a Toronto-based gold exploration and development company that is rapidly advancing its 83%-owned Dachang Gold Project, a newly discovered high-grade gold deposit in Western China.
A recently published NI 43-101-compliant update estimates the Dachang Gold Project contains 1.88 million ounces of gold in the Measured and Indicated resource category, and 1.51 million ounces in the Inferred category.
Last year, a Preliminary Economic Assessment estimated total capital expenditures for the construction of a mine at Dachang would be just over $100 million. The assessment estimated production costs of about $400 an ounce with a total capital payback in under two years.
Overall, the Dachang gold deposit is modeled to produce 165,000 ounces of gold annually for nine years.
Drilling at Dachang Project
Inter-Citic is currently drilling 25,000 meters into several new gold exploration targets. This year's exploration program is geared to expand the company's resource base and firm up final production models. Meanwhile, Inter-Citic continues to advance the feasibility and permitting processes for the Dachang mine.
The company's success has already attracted the attention of major mining investment firms, including the Zijin Mining Group — China's largest gold producer with over 2.5 million ounces of annual output. With a market cap of over $20 billion, Zijin recently acquired 19.15% of Inter-Citic.
Other investors include two Hong Kong tycoon families, who own approximately 30% of the company.
The final act for fiat currencies?
As world governments pump more money into the global system, the value of fiat currencies is rapidly being extinguished.
Global gold investment demand last year exceeded jewelry consumption for the first time in three decades. And investors in China and around the world will continue to buy gold over inflation concerns and the depreciation fiat currencies.
This demand will be a major driver for world gold prices in 2011, and may lift the share prices of companies exploring and developing new resources in China.
Good Investing,
Luke Burgess
Editor, Wealth Daily
Investment Director, Hard Money Millionaire and Underground Profits
Comment on / Rate this Article
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Ron Paul Puts the Fed In the Crosshairs
Ron Paul on line 1 Mr. Chairman...
Zillow: Another $1.7 Trillion to the Downside in Housing
Sorry Charlie.....
Jon Stewart's Big Bank Theory
LOL...
Economic Releases for the week of Monday, December 13th, 2010:
Dec 14 - PPI
Dec 14 - Retail Sales
Dec 14 - Business Inventories
Dec 14 - FOMC Rate Decision
Dec 15 - CPI
Dec 15 - Crude Inventories
Dec 16 - Initial Claims
Dec 16 - Housing Starts
Dec 16 - Building Permits
Dec 16 - Philadelphia Fed
Dec 17 - Leading Indicators
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Second biggest loser on my screen- AXU
C'mon man!
Alexco Resource Corp. Announces CAD$30.8 Million Bought Deal Financing
http://finance.yahoo.com/news/Alexco-Resource-Corp-prnews-1838928853.html?x=0&.v=14
Another big mover today is SFF.V - Drills 449 Metres Grading 1.29 g/t Gold
Up 165% to $0.61!!!!!!!!!!!!!
Sadly I have no interest in either one.
My recent purchase JAG finally woke up today though, and what a week AXU has had!
It has now been over 2 months sine the Letter of Engagement with Legend Securities and no update whatsoever yet. Extremely frustrating!!!