March 2010

Top Kiwi gold producer completes de-hedging

PERTH -

In recent months OceanaGold Corporation (TSX, ASX & NZX: OGC) has undertakeb major capital raisings in Canada and Australia to clear a hedge book that would have been wound down by next year, but on a hedge price of less than $NZ800/ounce ($US568.50/oz) that has impacted the profit line for the Macraes gold operations.

There were no hedge positions in place for the company’s second mining centre – the Globe-Progress mine in the Reefton goldfield on the South Island’s West Coast. Read more

Uranium May Have ‘Hyper’ Price Run, Uranium Energy Corp Says

March 30 (Bloomberg) — Uranium prices may start to rise at the end of the year as demand from utilities improve, Uranium Energy Corp., an explorer for the nuclear fuel, said.

Prices may jump to $100 a pound from about $40 a pound now, Amir Adnani, president and chief executive officer of the U.S.- based company, said today in an interview in Hong Kong, without giving a timeframe for the target price. Prices may average about $75 a pound in the next 5 to 10 years, he said. Read more

Uranium May Have ‘Hyper’ Price Run, Uranium Energy Corp Says

March 30 (Bloomberg) — Uranium prices may start to rise at the end of the year as demand from utilities improve, Uranium Energy Corp., an explorer for the nuclear fuel, said.

Prices may jump to $100 a pound from about $40 a pound now, Amir Adnani, president and chief executive officer of the U.S.- based company, said today in an interview in Hong Kong, without giving a timeframe for the target price. Prices may average about $75 a pound in the next 5 to 10 years, he said. Read more

China gold consumption to double in decade

Chinese demand for gold is set to double in tonnage terms within just ten years according to the latest World Gold Council (WGC) analysis. Chinese gold consumption was worth more than US$14billion in 2009, which is equivalent to 11% of global gold demand. Launched today, Gold in the Year of the Tiger provides an outlook for all aspects of gold’s supply and demand fundamentals in China.

Marcus Grubb, Managing Director, Investment at WGC, said: Read more

Vale/Nippon Steel iron ore supply deal 90% higher

Brazilian mining giant Vale has approved a tentative quarterly iron ore price deal with Asian steel companies that would boost prices by 90 percent, Japan’s Nikkei reported on Monday.

The move could mark the first quarterly pricing deals for Vale (VALE5.SA)(VALE.N), the world’s top iron ore producer which for years defended the decades-old benchmark system but recently said it was adopting more flexible marketing. Read more

BHP Billiton agrees short-term iron ore sales contracts

BHP Billiton said today it has agreed short-term pricing on iron ore contracts with a “significant” number of customers in Asia that were previously priced on an annual basis, scoring a big win in its campaign to move away from the benchmark system.

The Melbourne-based miner has been vocal for years in its desire to move the pricing of bulk commodities — iron ore and coking coal — from an annual benchmark to quarterly and spot pricing, arguing shorter-term pricing is fairer and more transparent. Read more

Gold rises as investors warm to risk

GOLD rose modestly as investors moved into perceived riskier assets amid optimism after positive economic data and the eurozone agreement to backstop financially strapped Greece.

Most actively traded June gold gained $US6.10, or 0.6 per cent, to settle at $US1111.50 an ounce on the Comex division of the New York Mercantile Exchange. Thinly traded nearby March gold rose $US6.10, or 0.6 per cent, to settle at $US1110.30. Read more

Gold “Supported by Physical Buying” as Chinese Demand Forecast to Double by 2020

London Gold Market Report

from Adrian Ash

BullionVault

08:40 EST, Mon 29 March

Gold “Supported by Physical Buying” as Chinese Demand Forecast to Double by 2020 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. Whether it is a flow through, private placement, debenture, equity or any other form of public offering, you’ll find it here.

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!

To see the Canadian Financing Archives click HERE.

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
March 26, 2010	Iamgold Corp	IMG	$214,536,000.	Closed
March 26, 2010	Ely Gold & Minerals Inc	ELY	$4,000,000.	Amendment
March 26, 2010	San Gold Resources Corp	SGR	$26,531,550.	Closed
March 26, 2010	Sandspring Resources Ltd	SSP	$12,000,000.	Closed
March 26, 2010	Arctic Star Diamond Corp	ADD	$885,000.	Amendment
March 26, 2010	Olympus Pacific Minerals Inc	OYM	$12,749,999.	Closed
March 26, 2010	Riverstone Resources Inc	RVS	$9,654,000.	Closed
March 26, 2010	Gold Bullion Development Corp	GBB	$4,020,500.	Amendment
March 26, 2010	Goldrea Resources Corp	GOR	$5,600,000.	Proposed
March 26, 2010	Yukon-Nevada Gold Corp	YNG	$4,999,999.	Closed
March 26, 2010	Rambler Metals and Mining PLC	RAB	$4,186,342.	Proposed
March 26, 2010	Conway Resources Inc	CWY	$103,329.	Proposed
March 26, 2010	Atlanta Gold Inc	ATG	$2,000,000.	Proposed
March 26, 2010	Goldbank Mining Corp	GLB	$199,999.	Proposed
March 26, 2010	Ringbolt Ventures Ltd	RBV	$291,900.	Closed
March 26, 2010	Geo Minerals Ltd	GM	$700,000.	Proposed
March 26, 2010	Crown Minerals Inc	CWM	$28,800.	Proposed
March 26, 2010	Thelon Capital Ltd	THC	$82,466.	Closed
March 26, 2010	Goldeye Explorations Ltd	GGY	$45,000.	Closed
March 26, 2010	North Arrow Minerals Inc	NAR	$500,400.	Closed
March 26, 2010	Regent Ventures Ltd	REV	$360,000.	Proposed

Uranium company refocuses on gold with Kalgoorlie North

PERTH -

Atom Energy Ltd (ASX: AXY), today confirmed it would be acquiring a 100% interest in the Kalgoorlie North gold project that takes in historic workings and adjacent targets that begin at Broad Arrow, 35 kilometres north of Kalgoorlie and are on a strike line for a further 25 km north.

When the company farmed out some of its uranium prospects in the Northern Territory and closed an exploration office in Alice Springs its focus gravitated towards the goldfields near Kalgoorlie. Read more

BMO reckons nickel and copper prices will rally and firm up this year

RENO, NV -

BMO Capital Markets Global Commodity Strategist Bart Melek expects nickel and copper prices to firm over the next several months as real physical supply/demand fundamentals improve.

In a note published Sunday, Melek advised, “Given the need to restock consumer inventories, the strengthening global recovery and higher stainless smelting rates should continue to rally both nickel and copper into 2010.” Read more

Bribes ‘forced China to overpay for iron ore’

CHINA claims its steel sector paid 1 billion yuan ($160.5 million) too much for iron ore last year because of bribery and industrial espionage by the four Rio Tinto executives handed “harsh” prison sentences last night.

As a Chinese court jailed Australian Stern Hu for 10 years – at the top end of expectations – it also blamed the men for the collapse last year of annual price negotiations between Australia and China. Read more

RITV News Alert: Latest TSX Resource Estimate Updates

The following companies have filed resource estimate updates with the TSX.

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 directly to the Resource Estimate tool at resourceINTELLIGENCE.net by clicking HERE.

Date	Name	Project	Metals	Prev. Insitu Value	Updated Insitu Value	% Change
3/25/2010	International Minerals Corp.	Pallancata	Au, Ag	935,488,188	1,003,649,428	7
3/24/2010	Tournigan Energy Ltd.	Kuriskova	U3O8, Mo	1,515,932,731	1,791,557,000	18
3/24/2010	Andean Resources Ltd.	Cerro Negro	Au, Ag	2,191,201,441	2,995,946,355	37
3/22/2010	Barrick Gold Corporation.	Donlin Creek	Au	N/A	20,820,476,379	N/A

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. Whether it is a flow through, private placement, debenture, equity or any other form of public offering, you’ll find it here.

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!

To see the Canadian Financing Archives click HERE.

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
March 25, 2010	Thelon Capital Ltd	THC	$410,990.	Closed
March 25, 2010	Labrador Iron Mines Holdings Ltd	LIM	$35,057,300.	Closed
March 25, 2010	High Desert Gold Corp	HDG	$872,400.	Closed
March 25, 2010	Skyharbour Resources Ltd	SYH	$250,000.	Proposed
March 25, 2010	Intl Bethlehem Mining Corp	IBC	$100,000.	Closed
March 25, 2010	Red Hill Energy Inc	RH	$3,114,000.	Proposed
March 25, 2010	Rockhaven Resources Ltd	RK	$1,500,000.	Proposed
March 25, 2010	Rockhaven Resources Ltd	RK	$600,000.	Proposed
March 25, 2010	Terrane Metals Corp	TRX	$70,000,700.	Proposed
March 25, 2010	Terrane Metals Corp	TRX	$30,000,300.	Proposed
March 25, 2010	Toro Resources Corp	TRK	$499,999.	Proposed

Asian Gold Traders “Buy the Dips” as Global Devaluation Makes Currency Crisis “Possible”

London Gold Market Report

from Adrian Ash

BullionVault

09:30 EST, Fri 26 March

Asian Gold Traders “Buy the Dips” as Global Devaluation Makes Currency Crisis “Possible” Read more

Baosteel shifts on pricing

BAOSTEEL Group, the lead negotiator for annual ore price talks with global miners, announced yesterday that it supports the existing system of pricing iron ore once a year, but acknowledged the 40-year-old format could be altered.

This signal from China’s most influential steelmaker has exposed a small but significant breach in the otherwise united front of Chinese government officials and steelmakers opposed to such changes. Read more

Gold approaches $1,100

Major gold royalty company Franco-Nevada will continue to pursue acquisitions

RENO, NV

In financial results released Thursday, Toronto-based royalty company Franco-Nevada said it “anticipates significant acquisition activity in 2010,” despite the fact Franco was defeated in its 2009 bid for rival International Royalty Corp. by white knight Royal Gold.

“The company has significant capital available in which to invest in additional royalties, and is actively pursuing and developing new investment opportunities, with a concentrated focus on gold,” Franco said. Read more

AngloGold Sets Up Venture With State-Run Congo Miner (Update1)

March 26 (Bloomberg) — AngloGold Ashanti Ltd., Africa’s biggest producer of the metal, set up a joint venture with the Democratic Republic of Congo’s state-owned mining company to develop its Ashanti Goldfields Kilo project.

The agreement with Office des Mines d’Or de Kilo-Mito, known as Okimo, allows AngloGold to move beyond exploration and begin developing a gold project, the Johannesburg-based company’s Chief Executive Officer Mark Cutifani said in a statement to Johannesburg’s stock exchange today. Read more

Gold pares gains after Trichet warns about risks of IMF participation in Greek debt crisis

GOLD finished the pit session modestly higher today, but then gave up that gain in after-hours screen trading when the president of the European Central Bank frowned on potential International Monetary Fund participation with Greece’s debt problems.

June gold futures, which now have the most open interest, settled up $US4.20, or 0.39 per cent, an ounce to $US1094.10 on the Comex division of the New York Mercantile Exchange. Read more

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