Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
EMLL has released its consolidated financial results for the fiscal quarter ended June 30, 2011 and during this quarter, the Company achieved consolidated net revenues of $185,000 "We are very excited in this important milestone of becoming a revenue generating company and this result exemplifies the growing success of the business model that the management of El Maniel has implemented by focusing in the development of current and new resources in the gold business domain" according to Jamie Khoo, CEO of El Maniel International.
EMLL: I'm looking forward to a smashing week. Expecting news. GO EMLL!!
EMLL. EMLL'S $0.0007 held. Let's see a bounce back this week. Expecting news.
EMLL. EMLL'S $0.0007 held. Let's see a bounce back this week. Expecting news.
EMLL: El Maniel International, Inc Announces Accelerated Plans for Pilot
Operations
NEW YORK, Aug 8, 2011 (GlobeNewswire via COMTEX) -- El Maniel International Inc
(Pink Sheets:EMLL) announced today its accelerated plans for preliminary
operations in Papua New Guinea (PNG) "We are thrilled with the progress of our
venture in PNG and we are currently gearing up to commence alluvial gold mining
operations much earlier than previously planned and we are expecting to
initialize pilot operations in about 60 days or sooner" according to Jamie Khoo,
CEO of El Maniel International, Inc "We are planning for accelerated pilot
operations by putting together a two-channels sluice system to initiate alluvial
gold mining operations like the one shown in our August 2011 webcast until the
arrival of our alluvial gold mining equipments". The August 2011 webcast is
currently available via www.elmaniel.com
The two-channels sluice system for recovery of alluvial gold concentrate is a
long through where water flows to wash auriferous earth "Although this system
appears to be less sophisticated compared to the trommel wash plant, we believe
that it will be adequate for us to kick start as well as to produce in the
region of 300 ounces to 350 ounces of alluvial gold per month for the initial
months of preliminary operations and we will ramp up production accordingly when
we initialize mechanized alluvial mining operations upon arrival of our alluvial
mining equipments" stated Jamie Khoo "The initial pilot operations are expected
to generate additional top-line revenues in the region of $500,000 per month
which will also be reflected in our next fiscal quarter financials".
"In effort towards transparency, when our pilot mining operations are up and
running, we would like to invite our valued shareholders out to an open house to
give all investors a chance to witness the company's operations and gold
production as well as to meet the management of El Maniel International" added
Jamie Khoo. Stay tuned to www.elmaniel.com for more updates.
El Maniel International Inc is a publicly traded company currently focusing in
the gold business domain including but not limited to trading, prospecting,
developing and expanding the economic potential of its world class mining claims
and the company is committed in creating shareholder's value by ensuring
constant development of current and new resources in its global gold business
domain.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The statements contained in this release which are not historical facts
are forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those set forth in or
implied by forward-looking statements. These risks and uncertainties include the
Company's entry into new commercial businesses, the risk of obtaining financing,
recruiting and retaining qualified personnel, and other risks described in the
Company's Securities and Exchange Commission filings. The forward-looking
statements in this press release speak only as of the date hereof, and the
Company disclaims any obligation to provide updates, revisions or amendments to
any forward-looking statement to reflect changes in the Company's expectations
or future events.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: El Maniel International, Inc.
By Staff
CONTACT: CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
EMLL: El Maniel International, Inc Announces Accelerated Plans for Pilot
Operations
NEW YORK, Aug 8, 2011 (GlobeNewswire via COMTEX) -- El Maniel International Inc
(Pink Sheets:EMLL) announced today its accelerated plans for preliminary
operations in Papua New Guinea (PNG) "We are thrilled with the progress of our
venture in PNG and we are currently gearing up to commence alluvial gold mining
operations much earlier than previously planned and we are expecting to
initialize pilot operations in about 60 days or sooner" according to Jamie Khoo,
CEO of El Maniel International, Inc "We are planning for accelerated pilot
operations by putting together a two-channels sluice system to initiate alluvial
gold mining operations like the one shown in our August 2011 webcast until the
arrival of our alluvial gold mining equipments". The August 2011 webcast is
currently available via www.elmaniel.com
The two-channels sluice system for recovery of alluvial gold concentrate is a
long through where water flows to wash auriferous earth "Although this system
appears to be less sophisticated compared to the trommel wash plant, we believe
that it will be adequate for us to kick start as well as to produce in the
region of 300 ounces to 350 ounces of alluvial gold per month for the initial
months of preliminary operations and we will ramp up production accordingly when
we initialize mechanized alluvial mining operations upon arrival of our alluvial
mining equipments" stated Jamie Khoo "The initial pilot operations are expected
to generate additional top-line revenues in the region of $500,000 per month
which will also be reflected in our next fiscal quarter financials".
"In effort towards transparency, when our pilot mining operations are up and
running, we would like to invite our valued shareholders out to an open house to
give all investors a chance to witness the company's operations and gold
production as well as to meet the management of El Maniel International" added
Jamie Khoo. Stay tuned to www.elmaniel.com for more updates.
El Maniel International Inc is a publicly traded company currently focusing in
the gold business domain including but not limited to trading, prospecting,
developing and expanding the economic potential of its world class mining claims
and the company is committed in creating shareholder's value by ensuring
constant development of current and new resources in its global gold business
domain.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The statements contained in this release which are not historical facts
are forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those set forth in or
implied by forward-looking statements. These risks and uncertainties include the
Company's entry into new commercial businesses, the risk of obtaining financing,
recruiting and retaining qualified personnel, and other risks described in the
Company's Securities and Exchange Commission filings. The forward-looking
statements in this press release speak only as of the date hereof, and the
Company disclaims any obligation to provide updates, revisions or amendments to
any forward-looking statement to reflect changes in the Company's expectations
or future events.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: El Maniel International, Inc.
By Staff
CONTACT: CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
EMLL: Power Hour in a few minutes, GO EMLL!!!
EMLL: Power Hour in a few minutes, GO EMLL!!!
EMLL - Three Factors Will Drive Gold
Standard Chartered: "Three Factors Will Drive Gold To $5,000"
Following less than parabolic moves higher in the precious metals complex over the past several weeks has extinguished some of the fervor in the space, which of course is welcome: a slow, gradual increase which does not provoke the CME's attention is far better for the boiling free than a sudden surge in prices. Yet the recent period of stability may soon be over. Standard Chartered has just released a report which looks at actual gold breakeven prices, production bottlenecks, central bank interest, and Chinese and Indian buying, and comes to the conclusion that $5,000 gold may just be a matter of time. To wit: "The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production. We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report." And what according to Std. Chartered is the best way to capitalize on this undervaluation: "We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production." Perhaps the current price 66% lower is therefore not a bad entry point...
From the report:
We are bullish on gold. Most market commentary on gold has centred on the direction of US dollar movements or inflation/deflation issues. We go beyond this to examine future mine supply, which we think is just as important a driver. Our comprehensive study of 375 gold projects supply suggests a very limited production growth profile for the next five years. A ten-year bull market in gold has done little to drive gold production. The gold miners are running to stand still. A lack of funding from equity markets and a shortage of large gold mines makes it difficult for the industry to compensate for the depletion caused by aging mines and falling grades. In our base case, our 375-mine supply model shows net production growth of 3.6% pa. over the next five years.
Our IRR analysis shows that for the major gold projects under construction, for which the acquisition cost of gold resources has already been spent, the gold price would need to be US$1,400/oz in order to generate a 20% IRR, which is usually the minimum return requirement. For greenfield projects going forward, the gold price would need to be nearly US$2,000/oz to produce an IRR of 20%. We believe this daunting hurdle will likely further delay gold production.
The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production.
We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report, Gold – Super-cycle to extend above US$2,100/oz (17 April 2011).
We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production. We are cautious about the gold majors. Project plans of the big five gold producers by market cap suggest an average production CAGR of only 4% in the next five years. They need to depend on expensive acquisitions in order to grow further. As a form of affirmation, the share price index we constructed for the gold majors underperformed the gold price by 147ppt over 1995-2011.
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
EMLL - Three Factors Will Drive Gold
Standard Chartered: "Three Factors Will Drive Gold To $5,000"
Following less than parabolic moves higher in the precious metals complex over the past several weeks has extinguished some of the fervor in the space, which of course is welcome: a slow, gradual increase which does not provoke the CME's attention is far better for the boiling free than a sudden surge in prices. Yet the recent period of stability may soon be over. Standard Chartered has just released a report which looks at actual gold breakeven prices, production bottlenecks, central bank interest, and Chinese and Indian buying, and comes to the conclusion that $5,000 gold may just be a matter of time. To wit: "The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production. We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report." And what according to Std. Chartered is the best way to capitalize on this undervaluation: "We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production." Perhaps the current price 66% lower is therefore not a bad entry point...
From the report:
We are bullish on gold. Most market commentary on gold has centred on the direction of US dollar movements or inflation/deflation issues. We go beyond this to examine future mine supply, which we think is just as important a driver. Our comprehensive study of 375 gold projects supply suggests a very limited production growth profile for the next five years. A ten-year bull market in gold has done little to drive gold production. The gold miners are running to stand still. A lack of funding from equity markets and a shortage of large gold mines makes it difficult for the industry to compensate for the depletion caused by aging mines and falling grades. In our base case, our 375-mine supply model shows net production growth of 3.6% pa. over the next five years.
Our IRR analysis shows that for the major gold projects under construction, for which the acquisition cost of gold resources has already been spent, the gold price would need to be US$1,400/oz in order to generate a 20% IRR, which is usually the minimum return requirement. For greenfield projects going forward, the gold price would need to be nearly US$2,000/oz to produce an IRR of 20%. We believe this daunting hurdle will likely further delay gold production.
The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production.
We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report, Gold – Super-cycle to extend above US$2,100/oz (17 April 2011).
We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production. We are cautious about the gold majors. Project plans of the big five gold producers by market cap suggest an average production CAGR of only 4% in the next five years. They need to depend on expensive acquisitions in order to grow further. As a form of affirmation, the share price index we constructed for the gold majors underperformed the gold price by 147ppt over 1995-2011.
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
EMLL PNG Update, .0008 .001 support
El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
http://finance.yahoo.com/news/El-Maniel-International-Inc-pz-1546230211.html?x=0&.v=1
EMLL PNG Update, .0008 .001 support
El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
http://finance.yahoo.com/news/El-Maniel-International-Inc-pz-1546230211.html?x=0&.v=1
EMLL - Three Factors Will Drive Gold
Standard Chartered: "Three Factors Will Drive Gold To $5,000"
Following less than parabolic moves higher in the precious metals complex over the past several weeks has extinguished some of the fervor in the space, which of course is welcome: a slow, gradual increase which does not provoke the CME's attention is far better for the boiling free than a sudden surge in prices. Yet the recent period of stability may soon be over. Standard Chartered has just released a report which looks at actual gold breakeven prices, production bottlenecks, central bank interest, and Chinese and Indian buying, and comes to the conclusion that $5,000 gold may just be a matter of time. To wit: "The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production. We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report." And what according to Std. Chartered is the best way to capitalize on this undervaluation: "We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production." Perhaps the current price 66% lower is therefore not a bad entry point...
From the report:
We are bullish on gold. Most market commentary on gold has centred on the direction of US dollar movements or inflation/deflation issues. We go beyond this to examine future mine supply, which we think is just as important a driver. Our comprehensive study of 375 gold projects supply suggests a very limited production growth profile for the next five years. A ten-year bull market in gold has done little to drive gold production. The gold miners are running to stand still. A lack of funding from equity markets and a shortage of large gold mines makes it difficult for the industry to compensate for the depletion caused by aging mines and falling grades. In our base case, our 375-mine supply model shows net production growth of 3.6% pa. over the next five years.
Our IRR analysis shows that for the major gold projects under construction, for which the acquisition cost of gold resources has already been spent, the gold price would need to be US$1,400/oz in order to generate a 20% IRR, which is usually the minimum return requirement. For greenfield projects going forward, the gold price would need to be nearly US$2,000/oz to produce an IRR of 20%. We believe this daunting hurdle will likely further delay gold production.
The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production.
We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report, Gold – Super-cycle to extend above US$2,100/oz (17 April 2011).
We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production. We are cautious about the gold majors. Project plans of the big five gold producers by market cap suggest an average production CAGR of only 4% in the next five years. They need to depend on expensive acquisitions in order to grow further. As a form of affirmation, the share price index we constructed for the gold majors underperformed the gold price by 147ppt over 1995-2011.
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
EMLL - Three Factors Will Drive Gold
Standard Chartered: "Three Factors Will Drive Gold To $5,000"
Following less than parabolic moves higher in the precious metals complex over the past several weeks has extinguished some of the fervor in the space, which of course is welcome: a slow, gradual increase which does not provoke the CME's attention is far better for the boiling free than a sudden surge in prices. Yet the recent period of stability may soon be over. Standard Chartered has just released a report which looks at actual gold breakeven prices, production bottlenecks, central bank interest, and Chinese and Indian buying, and comes to the conclusion that $5,000 gold may just be a matter of time. To wit: "The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production. We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report." And what according to Std. Chartered is the best way to capitalize on this undervaluation: "We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production." Perhaps the current price 66% lower is therefore not a bad entry point...
From the report:
We are bullish on gold. Most market commentary on gold has centred on the direction of US dollar movements or inflation/deflation issues. We go beyond this to examine future mine supply, which we think is just as important a driver. Our comprehensive study of 375 gold projects supply suggests a very limited production growth profile for the next five years. A ten-year bull market in gold has done little to drive gold production. The gold miners are running to stand still. A lack of funding from equity markets and a shortage of large gold mines makes it difficult for the industry to compensate for the depletion caused by aging mines and falling grades. In our base case, our 375-mine supply model shows net production growth of 3.6% pa. over the next five years.
Our IRR analysis shows that for the major gold projects under construction, for which the acquisition cost of gold resources has already been spent, the gold price would need to be US$1,400/oz in order to generate a 20% IRR, which is usually the minimum return requirement. For greenfield projects going forward, the gold price would need to be nearly US$2,000/oz to produce an IRR of 20%. We believe this daunting hurdle will likely further delay gold production.
The limited supply comes at a time when central banks have completely changed their tune on selling down their gold stocks and now appear likely to accelerate their net buying programmes. China is way behind the curve. Currently, only 1.8% of China’s foreign exchange reserves is in gold; if the country were to bring this proportion in line with the global average of 11%, it would have to buy 6,000 more tonnes of gold, equivalent to more than 2 years of gold production.
We believe that these factors – limited gold production, buying by central banks and increasing demand from India and China – can potentially drive the gold price to US$5,000/oz, as highlighted in our commodity team’s earlier report, Gold – Super-cycle to extend above US$2,100/oz (17 April 2011).
We believe the best ways to invest in the gold cycle are buying physical gold (a safe asset) or investing in junior gold miners (highest leverage to the gold price) that are 1-2 years away from production. We are cautious about the gold majors. Project plans of the big five gold producers by market cap suggest an average production CAGR of only 4% in the next five years. They need to depend on expensive acquisitions in order to grow further. As a form of affirmation, the share price index we constructed for the gold majors underperformed the gold price by 147ppt over 1995-2011.
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
EMLL achieved net revenues of $185,000 for 1Q ended June 30, 2011!!
http://finance.yahoo.com/news/El-Maniel-International-Inc-pz-499280889.html?x=0&.v=1
EMLL achieved net revenues of $185,000 for 1Q ended June 30, 2011!!
http://finance.yahoo.com/news/El-Maniel-International-Inc-pz-499280889.html?x=0&.v=1
EMLL. El Maniel International, Inc Announces Accelerated Plans for Pilot
Operations
NEW YORK, Aug 8, 2011 (GlobeNewswire via COMTEX) -- El Maniel International Inc
(Pink Sheets:EMLL) announced today its accelerated plans for preliminary
operations in Papua New Guinea (PNG) "We are thrilled with the progress of our
venture in PNG and we are currently gearing up to commence alluvial gold mining
operations much earlier than previously planned and we are expecting to
initialize pilot operations in about 60 days or sooner" according to Jamie Khoo,
CEO of El Maniel International, Inc "We are planning for accelerated pilot
operations by putting together a two-channels sluice system to initiate alluvial
gold mining operations like the one shown in our August 2011 webcast until the
arrival of our alluvial gold mining equipments". The August 2011 webcast is
currently available via www.elmaniel.com
The two-channels sluice system for recovery of alluvial gold concentrate is a
long through where water flows to wash auriferous earth "Although this system
appears to be less sophisticated compared to the trommel wash plant, we believe
that it will be adequate for us to kick start as well as to produce in the
region of 300 ounces to 350 ounces of alluvial gold per month for the initial
months of preliminary operations and we will ramp up production accordingly when
we initialize mechanized alluvial mining operations upon arrival of our alluvial
mining equipments" stated Jamie Khoo "The initial pilot operations are expected
to generate additional top-line revenues in the region of $500,000 per month
which will also be reflected in our next fiscal quarter financials".
"In effort towards transparency, when our pilot mining operations are up and
running, we would like to invite our valued shareholders out to an open house to
give all investors a chance to witness the company's operations and gold
production as well as to meet the management of El Maniel International" added
Jamie Khoo. Stay tuned to www.elmaniel.com for more updates.
El Maniel International Inc is a publicly traded company currently focusing in
the gold business domain including but not limited to trading, prospecting,
developing and expanding the economic potential of its world class mining claims
and the company is committed in creating shareholder's value by ensuring
constant development of current and new resources in its global gold business
domain.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The statements contained in this release which are not historical facts
are forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those set forth in or
implied by forward-looking statements. These risks and uncertainties include the
Company's entry into new commercial businesses, the risk of obtaining financing,
recruiting and retaining qualified personnel, and other risks described in the
Company's Securities and Exchange Commission filings. The forward-looking
statements in this press release speak only as of the date hereof, and the
Company disclaims any obligation to provide updates, revisions or amendments to
any forward-looking statement to reflect changes in the Company's expectations
or future events.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: El Maniel International, Inc.
By Staff
CONTACT: CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
EMLL = BREAK OUT!!!!!!!!
EMLL - Gold regains safe-haven status on U.S. downgrade
By Tatyana Shumsky
NEW YORK (MarketWatch) -- After last week's slip, gold reclaimed its title as the ultimate safe haven.
Gold got caught in a market-wide downdraft Thursday, as investors sold profitable gold holdings to cover losses in other assets, giving the precious metal a black eye. But Standard & Poor's decision late Friday to cut the U.S. government's credit rating restored gold's reputation as a haven whose risk profile is unblemished by political wrangling, excessive debt or central-bank interventions.
S&P's move helped propel gold futures to a record of $1,718.50 a troy ounce Monday, up more than $60 from Thursday's settlement. The contract for August delivery settled up $61.40, or 3.7%, at $1,710.20 a troy ounce on the Comex division of the New York Mercantile Exchange.
The sharpest gains came as equity markets faltered, with gold spiking to record levels in electronic trading moments after the Dow Jones Industrial Average touched the day's lows.
Gold has held up as a bastion of safety this year, gaining more than 20% while stocks are deep in correction territory. And such protection is in high demand amid an uncertain economic outlook for the U.S. and globally and a strained European sovereign-debt market.
"You're going to see additional allocation to gold as the fiscal problems in developed countries that led to [recent market declines] are not going away anytime soon," said Ross Koestrich, iShares Global Chief Investment Strategist at BlackRock. "It is one of the few safe-haven assets left."
Other refuge assets also rallied, with investors diverting their wealth to the Swiss franc and the Japanese yen. However, these traditional haven currencies bring the added risk of government intervention, making them flawed alternatives to gold.
Last week, Japan's central bank sold massive amounts of yen to cool its rising exchange rate while Swiss authorities slashed their key interest rate to zero to discourage investors from holding the franc. The frequency and scope of such intervention is likely to increase in the coming months as governments of stable economies stave off artificial inflation of their exchange rates.
Even U.S. Treasury bonds gained ground Monday, because "gold can't replace Treasurys because there's simply not enough of it," Koestrich said. For 70 years, U.S. Treasury debt has been synonymous with "risk-free" assets, a classification that helped Treasurys become the most liquid and widely held government debt in the world.
Gold's allure, lies in the fact that governments can't slash its price by making it more abundant--a fear that continues to dog paper currencies including the euro.
The European Central Bank said it will buy the government bonds of Italy and Spain to bolster the debt markets of these euro-zone economies. Yields on both Italian and Spanish bonds have surged in recent days as mounting concerns that these countries won't be able to pay their bills sparked heavy selling pressure.
But market participants are now concerned that the ECB will expand the money supply to pay for these purchases. This so-called monetization of debt is likely to erode the value of the euro and cast fresh doubts on the strength of paper currencies.
"Since gold is the most liquid of the hard assets, gold seems to benefit the most," said Tom Pawlicki, a precious metals analyst with MF Global.
The flight to safety is likely to boost the amount of physical gold held by exchange-traded funds.
Gold held by two U.S.-listed ETFs, Gold Shares (xx) and the (xx), totaled a record 1,447 metric tons Friday, up 8% from 1,339 metric tons in mid-July, Pawlicki said.
Mining stocks are also likely to see added investor interest. The stocks of gold miners have struggled to keep up with gold prices for the past year as higher energy prices and other input costs pressured profit margins, but recent declines in oil prices are likely to reverse this trend.
"On days when you have the S&P 500 down 200 points these stocks are not going to outperform the commodity, but as gold goes up and oil and input prices go down," the situation will shift to favor the mining companies, said Mark Johnson, co-manager of the $2.2 billion USAA Precious Metals and Minerals Fund (USAGX).
Gold's ride higher is unlikely to end soon as two investment banks, J.P. Morgan Chase & Co. (JPM) and Goldman Sachs Group (GS), raised their gold-price forecasts Monday. J.P. Morgan now sees gold prices at $2,500 a troy ounce by year-end, while Goldman expects gold at $1,730 in six months.
http://www.marketwatch.com/story/gold-regains-safe-haven-status-on-us-downgrade-2011-08-08
EMLL: Ghana is Africa’s second biggest producer of gold.
EMLL - El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
NEW YORK, Aug. 15, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company is sending its mining project crew to the project site in Papua New Guinea (PNG) for preliminary preparations towards the mobilization of pilot alluvial gold mining operations. "We are all set to send a team comprising of experienced engineers, geologist and equipment specialists to the project site by end of August 2011 for the initialization of preliminary site preparations such as site boundary demarcation, site clearing as well as pre-construction work where we will assess the existing terrain condition of the project site to designate a location to erect the two-channel elevated sluice-box system," according to Jamie Khoo, the Chief Executive Officer of El Maniel International, Inc. "We will also be gathering the necessary resources that we require including but not limited to heavy equipments such as bulldozers, excavators, tipper trucks and other materials such as metal, timber and concrete for the construction the two-channel elevated sluice-box system and preliminary preparations are expected to continue for 3-4 weeks for us to commence operations."
"In view of soaring gold prices to records levels, we must capitalize on this opportunity to bring gold to the market as soon as possible so as to increase our overall bottom-line as well as the shareholders' value," added Jamie Khoo. More information and updates will be made available via www.elmaniel.com.
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. Visit us at www.elmaniel.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
EMLL: Ghana is Africa’s second biggest producer of gold.
EMLL Go EMLLers, looking forward to another chart busting day!
EMLL - El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
NEW YORK, Aug. 15, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company is sending its mining project crew to the project site in Papua New Guinea (PNG) for preliminary preparations towards the mobilization of pilot alluvial gold mining operations. "We are all set to send a team comprising of experienced engineers, geologist and equipment specialists to the project site by end of August 2011 for the initialization of preliminary site preparations such as site boundary demarcation, site clearing as well as pre-construction work where we will assess the existing terrain condition of the project site to designate a location to erect the two-channel elevated sluice-box system," according to Jamie Khoo, the Chief Executive Officer of El Maniel International, Inc. "We will also be gathering the necessary resources that we require including but not limited to heavy equipments such as bulldozers, excavators, tipper trucks and other materials such as metal, timber and concrete for the construction the two-channel elevated sluice-box system and preliminary preparations are expected to continue for 3-4 weeks for us to commence operations."
"In view of soaring gold prices to records levels, we must capitalize on this opportunity to bring gold to the market as soon as possible so as to increase our overall bottom-line as well as the shareholders' value," added Jamie Khoo. More information and updates will be made available via www.elmaniel.com.
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. Visit us at www.elmaniel.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
http://www.globenewswire.com/newsroom/news.html?d=229569
EMLL What will emll do today I smell 20's go emll
EMLL What will emll do today I smell 20's go emll
EMLL Todays news was excellent. It shows that the company is really moving foward!
EMLL 14's close, Awesome Start to the week!
EMLL strong like BULL no stopping it now.....
EMLL, Great close, hod, green, and 18% up! GO EMLL!!!! Looking forward to tomorrow!
EMLL, Great close, hod, green, and 18% up! GO EMLL!!!! Looking forward to tomorrow!
EMLL strong like BULL no stopping it now.....
EMLL Todays news was excellent. It shows that the company is really moving foward!
EMLL - El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
NEW YORK, Aug. 15, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company is sending its mining project crew to the project site in Papua New Guinea (PNG) for preliminary preparations towards the mobilization of pilot alluvial gold mining operations. "We are all set to send a team comprising of experienced engineers, geologist and equipment specialists to the project site by end of August 2011 for the initialization of preliminary site preparations such as site boundary demarcation, site clearing as well as pre-construction work where we will assess the existing terrain condition of the project site to designate a location to erect the two-channel elevated sluice-box system," according to Jamie Khoo, the Chief Executive Officer of El Maniel International, Inc. "We will also be gathering the necessary resources that we require including but not limited to heavy equipments such as bulldozers, excavators, tipper trucks and other materials such as metal, timber and concrete for the construction the two-channel elevated sluice-box system and preliminary preparations are expected to continue for 3-4 weeks for us to commence operations."
"In view of soaring gold prices to records levels, we must capitalize on this opportunity to bring gold to the market as soon as possible so as to increase our overall bottom-line as well as the shareholders' value," added Jamie Khoo. More information and updates will be made available via www.elmaniel.com.
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. Visit us at www.elmaniel.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
http://www.globenewswire.com/newsroom/news.html?d=229569
EMLL - El Maniel International, Inc Mobilizes Mining Project Crew for Pilot Operations in Papua New Guinea
NEW YORK, Aug. 15, 2011 (GLOBE NEWSWIRE) -- El Maniel International Inc (Pink Sheets:EMLL) announced today that the Company is sending its mining project crew to the project site in Papua New Guinea (PNG) for preliminary preparations towards the mobilization of pilot alluvial gold mining operations. "We are all set to send a team comprising of experienced engineers, geologist and equipment specialists to the project site by end of August 2011 for the initialization of preliminary site preparations such as site boundary demarcation, site clearing as well as pre-construction work where we will assess the existing terrain condition of the project site to designate a location to erect the two-channel elevated sluice-box system," according to Jamie Khoo, the Chief Executive Officer of El Maniel International, Inc. "We will also be gathering the necessary resources that we require including but not limited to heavy equipments such as bulldozers, excavators, tipper trucks and other materials such as metal, timber and concrete for the construction the two-channel elevated sluice-box system and preliminary preparations are expected to continue for 3-4 weeks for us to commence operations."
"In view of soaring gold prices to records levels, we must capitalize on this opportunity to bring gold to the market as soon as possible so as to increase our overall bottom-line as well as the shareholders' value," added Jamie Khoo. More information and updates will be made available via www.elmaniel.com.
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. Visit us at www.elmaniel.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
http://www.globenewswire.com/newsroom/news.html?d=229569
I agree last weeks charts where remarkable.EMLL
EMLL gold ended the week $1742.000 !!!
EMLL management bringing PNG alluvial gold production online via fast track using current equipment and upgrading out of revs/profits, is the smart way to go about it.
Post # of 79072
EMLL - Gold regains safe-haven status on U.S. downgrade
By Tatyana Shumsky
NEW YORK (MarketWatch) -- After last week's slip, gold reclaimed its title as the ultimate safe haven.
Gold got caught in a market-wide downdraft Thursday, as investors sold profitable gold holdings to cover losses in other assets, giving the precious metal a black eye. But Standard & Poor's decision late Friday to cut the U.S. government's credit rating restored gold's reputation as a haven whose risk profile is unblemished by political wrangling, excessive debt or central-bank interventions.
S&P's move helped propel gold futures to a record of $1,718.50 a troy ounce Monday, up more than $60 from Thursday's settlement. The contract for August delivery settled up $61.40, or 3.7%, at $1,710.20 a troy ounce on the Comex division of the New York Mercantile Exchange.
The sharpest gains came as equity markets faltered, with gold spiking to record levels in electronic trading moments after the Dow Jones Industrial Average touched the day's lows.
Gold has held up as a bastion of safety this year, gaining more than 20% while stocks are deep in correction territory. And such protection is in high demand amid an uncertain economic outlook for the U.S. and globally and a strained European sovereign-debt market.
"You're going to see additional allocation to gold as the fiscal problems in developed countries that led to [recent market declines] are not going away anytime soon," said Ross Koestrich, iShares Global Chief Investment Strategist at BlackRock. "It is one of the few safe-haven assets left."
Other refuge assets also rallied, with investors diverting their wealth to the Swiss franc and the Japanese yen. However, these traditional haven currencies bring the added risk of government intervention, making them flawed alternatives to gold.
Last week, Japan's central bank sold massive amounts of yen to cool its rising exchange rate while Swiss authorities slashed their key interest rate to zero to discourage investors from holding the franc. The frequency and scope of such intervention is likely to increase in the coming months as governments of stable economies stave off artificial inflation of their exchange rates.
Even U.S. Treasury bonds gained ground Monday, because "gold can't replace Treasurys because there's simply not enough of it," Koestrich said. For 70 years, U.S. Treasury debt has been synonymous with "risk-free" assets, a classification that helped Treasurys become the most liquid and widely held government debt in the world.
Gold's allure, lies in the fact that governments can't slash its price by making it more abundant--a fear that continues to dog paper currencies including the euro.
The European Central Bank said it will buy the government bonds of Italy and Spain to bolster the debt markets of these euro-zone economies. Yields on both Italian and Spanish bonds have surged in recent days as mounting concerns that these countries won't be able to pay their bills sparked heavy selling pressure.
But market participants are now concerned that the ECB will expand the money supply to pay for these purchases. This so-called monetization of debt is likely to erode the value of the euro and cast fresh doubts on the strength of paper currencies.
"Since gold is the most liquid of the hard assets, gold seems to benefit the most," said Tom Pawlicki, a precious metals analyst with MF Global.
The flight to safety is likely to boost the amount of physical gold held by exchange-traded funds.
Gold held by two U.S.-listed ETFs, Gold Shares (xx) and the (xx), totaled a record 1,447 metric tons Friday, up 8% from 1,339 metric tons in mid-July, Pawlicki said.
Mining stocks are also likely to see added investor interest. The stocks of gold miners have struggled to keep up with gold prices for the past year as higher energy prices and other input costs pressured profit margins, but recent declines in oil prices are likely to reverse this trend.
"On days when you have the S&P 500 down 200 points these stocks are not going to outperform the commodity, but as gold goes up and oil and input prices go down," the situation will shift to favor the mining companies, said Mark Johnson, co-manager of the $2.2 billion USAA Precious Metals and Minerals Fund (USAGX).
Gold's ride higher is unlikely to end soon as two investment banks, J.P. Morgan Chase & Co. (JPM) and Goldman Sachs Group (GS), raised their gold-price forecasts Monday. J.P. Morgan now sees gold prices at $2,500 a troy ounce by year-end, while Goldman expects gold at $1,730 in six months.
http://www.marketwatch.com/story/gold-regains-safe-haven-status-on-us-downgrade-2011-08-08
Im looking forward to EMLL closing .002 by EOW that would be Nice, imo.