Trouble in Kyrgyzstan — Centerra’s Kumtor gold mine is under political attack
Few Canadians have heard of Kyrgyzstan, and fewer still could find it on a map. But the landlocked central Asian republic is of particular interest to one Canadian company, Centerra Gold (TSX:CG). Its Kumtor Mine, located high (over 4,000 metres) in the Tian Shan Mountains, has produced more than 8.4 million ounces of gold since [...]
Gold down to $700 – or up to $7,000? – Diametrically opposed viewpoints.
Bulls will be bulls and bears will be bears. Contrasting viewpoints on the likely path of the gold price abound – no wonder the investor who relies on advice from recognised ‘experts’ in the field just doesn’t know which way to turn – and why the huge majority have continued to ignore gold as an [...]
Mongolia’s “ninja” miners help sate China lust for gold
In a hot, concrete hut filled with acetylene fumes, an elderly Mongolian miner struggles to contain her excitement as she plucks a sizzling inch-long nugget of gold from a grubby cooling pot and raises it to the light.
Gold could hike to $2,000 by year-end: Thomson Reuters
Gold prices could fall below $1,550, returning to record highs by the end of this year, Thomson Reuters GFMS, a top precious metals consultancy, said this morning.
Mongolia: Centerra Gold Inc. Flouting Mongolia’s Environmental Protection Laws – Organizations File Complaint With Canadian Government
A consortium of Canadian and Mongolian organisations has filed a complaint with the Canadian government over apparent violations of Mongolian law and international corporate responsibility guidelines by Centerra Gold Inc. in its Mongolian operations.
Since 2000, dollar down 22%, gold up around 500% – Which the better safe haven?
The Gold Report: In a recent edition of the Frontier Research Report, you wrote, “As perplexing and disconcerting as it may be, the performance of major global stock markets currently has a much stronger influence on share prices in the mining sector than the actual performance of the underlying commodity.” How is that different from [...]
Centerra Gold Updates Reserves and Resources Total Gold Reserves 8.1 million Contained Ounces
This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 14 and in our Cautionary Note Regarding Forward-looking Information on page 16. All figures are in United States dollars.
Undur Tolgoi Minerals Inc. Announces Winter Work Program Over Mongolian Property
Undur Tolgoi Minerals Inc. (“UTM” or the “Company”) (cnsx:UTM) is pleased to announce that its Board of Directors has reviewed and unanimously approved an exploration Program (the “Work Program”) for the Company’s Mongolian property.
Why Are the Chinese Buying Record Quantities of Gold?
This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports.
Mining companies say gold price to peak at $2,000/oz in 2012–PwC
A survey by PricewaterhouseCoopers found 80% of mining companies expect gold to peak at US$2000 per ounce in 2012.
Entree Discovers New High Grade Gold Zone at Shivee West, Mongolia
Entree Gold Inc. CA:ETG +5.98% EGI +0.98% (frankfurt:EKA) (“Entree” or the “Company”) has received final results from the recently completed work program on its 100%-owned Shivee West project in Mongolia. Work was conducted over the Zone III near-surface epithermal gold target and expanded north, where a new gold zone (“Argo Zone”) was discovered 250 metres [...]
Morgan Stanley рассказал, что ждет нефть и золото в 2012г
Аналитики американского инвестбанка Morgan Stanley представили прогноз по ценам на товарно-сырьевые активы в 2012г.
Entree Gold Announces Exercise of Over-Allotment Option
Entree Gold Inc. (“Entree” or the “Company”) is pleased to announce that the underwriters of the Company’s recently completed public offering have exercised their over-allotment option, and will purchase an additional 1,150,000 shares at a price of $1.25 per share. The Company anticipates that Rio Tinto Exploration Canada Inc. (“Rio Tinto”) will exercise its pre-emptive [...]
Монголия подставила российского золотодобытчика под Газпромбанк
Газпромбанк отсудил $25 млн. (около 780 млн. руб.) по кредиту выданному монгольской компании «Золотой Восток-Монголия». Взыскание обращено на имущество ее руководителя — российского предпринимателя Сергея Паушок, поскольку деятельность самой фирмы была приостановлена. Косвенным виновником проблем Паушка стали налоговые органы Монголии, которые несколько лет назад увеличили предъявили претензии налоговые претензии его компании на сумму 1,3 млрд [...]
The Ninja Gold Miners of Mongolia
They’re called ninja miners not for their stealth but for the ubiquitous green panning bowls they sling over their backs. Even in outer Mongolia, where they lawlessly pan for gold, the resemblance to the Teenage Mutant Ninja Turtles is unmistakable. For years, they have furtively worked at abandoned commercial mines and on the edges of [...]
Central bank gold buying at 40-year high
Central banks made their largest purchases of gold in decades in the third quarter as a sharp drop in prices in September spurred buying to diversify reserves. The scale of the purchases at 148.4 tonnes on a net basis was far bigger than previously disclosed and puts central banks on track to buy more gold [...]
For gold miners, copper is no longer a swear word
For gold miners, copper used to be a four-letter word. “Pure” gold stocks traded at a premium to diversified miners and, for the most part still do. And, even if they did pull other metals from the ground, the companies considered them as by-products, credits to be used to offset the cost of getting an [...]
Erdene Commences Drilling at Altan Nar Epithermal Gold Project Southwest Mongolia
Erdene Resource Development Corp. (“Erdene”) CA:ERD +5.00% , is pleased to announce commencement of a 3,000 metre drill program at the Company’s 100% owned Altan Nar (Golden Sun) property in southwest Mongolia. This program will test multiple targets over 1 kilometre of strike length extending north and south from the original discovery which returned significant, [...]
War scenario: invest in non dollar assets of which gold is No.1 – Maybury
Warning of another possible ‘U.S. goes to war’ episode ahead, Richard Maybury suggests investment in gold, silver, platinum and oil and other non-dollar assets to protect against subsequent dollar collapse.
Gold to rally to new record in March – analyst forecasts
The most accurate forecasters say gold will rebound from its biggest monthly plunge since 2008 and reach a record by March because economic growth is stagnating and Europe’s debt crisis is unresolved. Futures traded in New York may rise 13 percent to $1,950 an ounce by the end of the first quarter, according to the [...]
Kazakhstan to build 3rd gold refinery in 2012
Kazakhstan plans to begin construction of a third gold refinery next year to process an expected increase in volumes of the precious metal, the country’s Industry Ministry said on Monday. State miner Tau-Ken Samruk will run the refinery, which will have capacity to produce 25 tonnes of bullion per year and could cost up to [...]
Centerra reports 396% increase in 3Q11 net earnings
Centerra Gold reported a 400% increase in earnings per share, as well as a nearly fourfold increase in net earnings during the third quarter of this year. The Toronto-based gold miner also upped guidance for 2011 consolidated gold production to a range of 640,000 to 660,000 ounces from the original guidance of 600,000 to 650,000 [...]
AngloGold прогнозирует рост цен на золото до $2200 за унцию
В течение следующих двух лет цена на золото может «с легкостью» достигнуть $2200 за тройскую унцию на фоне роста производственных затрат и сохранения финансовой нестабильности, заявил главный исполнительный директор AngloGold Ashanti Марк Кутифани. «Произвести унцию золота стоит почти $1200, – сказал он на конференции в Перте. – Цены на золото отражают фундаментальные показатели отрасли».