Resource News

A.M. Kitco Metals Roundup: Gold Lower For 8th Session in a Row; Silver at 2.5-Year Low

By Jim Wyckoff

Comex gold futures are trading moderately lower but up from the overnight low Monday morning, the eighth trading day in a row of losses—marking the longest daily selling streak in four years. Meantime silver futures notched a more-than 2.5-year low overnight. Comex June gold last traded down $8.40 at $1,356.30 an ounce. Spot gold was last quoted down $2.10 at $1,358.50.  July Comex silver last traded down $0.687 at $21.665 an ounce. Read more

Salmon sperm may provide cheap option for rare earths recovery

By Dorothy Kosich

Yoshio Takahaski, a professor of environmental chemistry at Hiroshima University, said a research team– which also includes Japan’s Aisin Cosmos R&D Co. Ltd.–has determined that dried salmon milt or sperm is a “low cost and environment-friendly” method to extract rare earth metals. Read more

Iluka shares jump from less than $9 at the start of the month to $10.57

By Matt Chambers

Fresh Plunge in Precious Metals “Natural” as Bearish Money Managers Hold “Upper Hand” Over Asian Household Buyers

London Gold Market Report

from Adrian Ash

BullionVault

Mon 20 May, 08:15 EST

Fresh Plunge in Precious Metals “Natural” as Bearish Money Managers Hold “Upper Hand” Over Asian Household Buyers Read more

UPDATE: Stronger Dollar, Technical Weakness Push Gold Futures To Six-Week Low

By Allen Sykora

A stronger U.S. dollar, continued exchange-traded-fund redemptions, worries about when the Federal Open Market Committee may scale back quantitative easing and technical factors are all weighing on U.S. gold futures.

The most-active June gold contract traded on the Comex division of the New York Mercantile Exchange is headed for its seventh straight down day. Read more

Rio eyes special moment in diamond tender

By Sarah-Jane Tasker

Pension Funds “Selling Gold ETFs”, Dollar Weakness Seen Offering “Only Hope” Short Term

London Gold Market Report

from Adrian Ash

BullionVault

Fri 17 May, 08:15 EST

Pension Funds “Selling Gold ETFs”, Dollar Weakness Seen Offering “Only Hope” Short Term Read more

Zimbabwe Wants to Distribute Diamonds to China, Dubai, Israel

By Godfrey Marawanyika

Zimbabwe is trying to reach an agreement to distribute its stones directly to China, Dubai and Israel without violating rules against the sale of gems from the Marange fields, Chris Mutsvangwa, chairman of the state-owned Mineral Marketing Corporation Ltd., said.

The U.S. may also get involved in discussions, Mutsvangwa said on the sidelines of a Chamber of Mines Read more

Ecuador pushing ahead with reforms to lure mining investors

Ecuador’s government on Thursday presented a mining bill to Congress that should pave the way for the signing of contracts with several investors, including Canada’s Kinross Gold Corp.

Ecuador does not have a large-scale mining industry, but the country is largely unexplored and could potentially have big copper, gold and silver deposits. Read more

Gold’s dichotomy: Investment demand plunges, but consumers keep buying

By Peter Koven

Today’s gold market is being defined by two trends: aggressive selling by investors in North America through exchange-traded funds, and aggressive buying by consumers in Asia.

But for now, the ETF investors are overwhelming everyone else.

Gold prices settled below US$1,390 an ounce on Thursday, and after five rough trading days in a row, they are approaching the lows that were reached during last month’s dramatic collapse. Read more

Green light given despite failure to address guidelines

By Matthew Denholm

TASMANIA has approved an iron ore strip mine in the Tarkine region, despite failing to meet a requirement to assess its impact as part of broader plans for three neighbouring mines.

The state’s Environmental Protection Agency yesterday announced Venture Mineral’s plan to extract two million tonnes of Read more

TSX Mine Financing Alerts: Who’s Got the Money?

The following companies have filed press releases pertaining to a financing on the TSX and Venture exchanges for mining and exploration activities.

Brokers, analysts and investors can use this information to help evaluate whether a company has the funds to continue the business of making mines to feed the mills that create the metals for myriad uses in today’s growing world.

NEW: RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR. Go to www.shareknow.net now to begin evaluating prospective investments!

 

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
May 16, 2013	Tasca Resources Ltd	TAC	$150,000.	Closed
May 16, 2013	Delrand Resources Ltd	DRN	$270,000.	Closed
May 16, 2013	AndeanGold Ltd	AAU	$482,104.	Closed
May 16, 2013	Sirios Resources Inc	SOI	$267,179.	Closed
May 16, 2013	Torch River Resources Ltd	TCR	$75,000.	Closed
May 16, 2013	African Metals Corp	AFR	$250,000.	Closed
May 16, 2013	Westhaven Ventures Inc	WHN	$200,000.	Closed
May 16, 2013	Noble Mineral Exploration Inc	NOB	$80,000.	Proposed
May 16, 2013	Gespeg Copper Resources Inc	GCR	$1,000,000.	Proposed
May 16, 2013	Terra Nova Minerals Inc	TGC	$96,250.	Closed
May 16, 2013	Geodex Minerals Ltd	GXM	$199,999.	Proposed
May 16, 2013	Precipitate Gold Corp	PRG	$499,999.	Closed
May 16, 2013	Wolverine Minerals Inc	WLV	$350,000.	Proposed

Silver Fabrication Demand In 2013 Seen Rising, While Investment Demand Expected To Fall – CPM Group

By Debbie Carlson

Fabrication demand for silver slipped in 2012, but silver’s usage in industrial applications is expected to rise next year as jewelry purchases pick up and photovoltaic use rebounds, said the CPM Group.

Investment demand for silver is expected to slip after a strong 2012 as investors are less willing to chase higher prices, the New York-based consultancy said in its annual Silver Yearkbook report that reviews the state of the silver sector. Read more

Vedanta to Resume Iron Ore Mining by June After Ban Lifted

By Firat Kayakiran

Vedanta Resources Plc (VED), controlled by billionaire Anil Agarwal, is planning to resume iron ore mining in India’s Karnataka region by June after the country’s top court lifted a 21-month ban imposed for environmental violations.

India’s Supreme Court last month allowed Vedanta’s iron ore unit Sesa Goa Ltd. (SESA) and eight other companies to restart operations in Karnataka. Read more

US House Resources Committee approves rare earths/critical minerals bills

By Dorothy Kosich

The House Natural Resources Committee Wednesday approved two bills aimed at the development of rare earths and critical minerals in the United States.

Approved on a 24-17 committee vote, the National Strategic and Critical Minerals Production Act of 2013 (H.R. 761) requires the Secretaries of Interior Read more

BHP sells interests in Guinea alumina

By Barry Fitzgerald

Surge in Retail Gold Demand “Outweighed by ETF Selling” as Far East Premiums Hit New Highs

London Gold Market Report

from Adrian Ash

BullionVault

Thurs 16 May, 08:10 EST

Surge in Retail Gold Demand “Outweighed by ETF Selling” as Far East Premiums Hit New Highs Read more

Soros Leads Gold-Stake Cuts Before Bear Market Drop

By Debarati Roy

Billionaire investor George Soros joined Northern Trust Corp. and BlackRock Inc. in cutting holdings of exchange-traded products backed by gold before a bear market in prices last month, while John Paulson maintained a stake that lost about $165 million in the first quarter. Read more

Ron Paul: Pessimistic on Washington, positive on gold

By Lawrence Williams

If the audience demographic at the Metals & Minerals Investment Conference in New York was that of the U.S. as a whole, former U.S. senator Ron Paul would be U.S. President today!  He was given a standing ovation by much of the audience at the beginning and end of his presentation and his speech Read more

Rio Tinto wins go-ahead for South of Embley bauxite project

By Matt Chambers

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