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GLOBAL MARKETS-U.S. stocks gain after steep decline, oil rises

National Post — Fri, 21 Nov 2008 19:25:00 +0000

Share This Story Story tools presented by * Energy leads U.S. stocks higher after steep 2-day slide * Gold gains about 6 pct buoyed by weak dollar, rising oil * Profit-taking pressures bonds, yields off historic lows * Oil rallies from below $50 after

New Jersey Mining Company Updates Progress of Toboggan Project

Prime Newswire — Fri, 21 Nov 2008 17:06:00 +0000

KELLOGG, Idaho, Nov. 21, 2008 (GLOBE NEWSWIRE) -- New Jersey Mining Company (OTCBB:NJMC) today provided an update on the exploration of its Toboggan project, which now covers over 7,300 acres located north of Murray, Idaho. The Toboggan project is a gold exploration joint venture between New Jersey Mining Company and Newmont North America Exploration Limited (Newmont), a subsidiary of Newmont Mining Corporation (NYSE:NEM).

MAX intersects 22 metres of 0.78 g/t gold at Howell

Canadian News Wire — Fri, 21 Nov 2008 14:30:00 +0000

<< TSX-V: MXR OTC BB: MXROF

AngloGold Ashanti signs $1 billion loan deal with Standard Chartered

Mineweb — Fri, 21 Nov 2008 11:38:12 +0000

Showing that banks are still prepared to lend to the right customer, AngloGold Ashanti has agreed a $1 billion loan facility with Standard Chartered bank for one year with an option to extend for a further year.

Kinross Gold on the march

Mineweb — Fri, 21 Nov 2008 11:25:20 +0000

Reinforcing its leadership of the global Tier I gold sector, Kinross splashes out USD 250m on a 6m ounce deposit in Chile.

Severstal buys controlling stake in High River Gold

Mineweb — Fri, 21 Nov 2008 09:42:26 +0000

Severstal has bought a 50.1% stake in High River Gold Mines for $45 million.

Gold Price Higher in Hong Kong - Nov. 20

China Mining — Fri, 21 Nov 2008 09:22:00 +0000

The gold price in Hong Kong went up 53 HK dollars to 6,898 HK dollars per tael on Thursday, according to the Bank of China (Hong Kong). The price is equivalent to 747.91 U.S. dollars a troy ounce, up 5.75 U.S. dollars at Thursday's exchange rate of one

Chinese individual investors allowed to trade Au99.95-category gold

China Mining — Fri, 21 Nov 2008 09:22:00 +0000

Individual investors were allowed to buy and sell Au99.95-category gold as of Friday at the Shanghai Gold Exchange (SGE), the Shanghai Securities News reported. In a notice issued on Thursday, the SGE said from Friday it would allow individual traders to

Gold deposit discovered in Xinjiang

China Mining — Fri, 21 Nov 2008 09:22:00 +0000

Chinese geological workers have discovered a gold deposit with an estimated reserve of 24 tons in Qitai County of the Xinjiang Uygur Autonomous Region. The deposit is located at northeast of Qitai, which covers a hilly area of 787 square kilometers. The

Projections on silver still showing promise

International Mining — Fri, 21 Nov 2008 09:14:17 +0000

At the yearly New York Silver Dinner organised by The Silver Institute, GFMS - a precious metals consultancy, specialising in research into the global gold, silver, platinum and palladium markets - presented its interim silver market review. The review highlighted that the total supply of silver is forecast to decline by around 4% this year, with modest growth expected in 2009. It also predicted mine production to rise moderately by some 171 t this year, with strong growth expected in Bolivia (+ 100% - San Cristobal), Russia (Kupol and Dukat), Argentina (Manantial Espejo) and in Mexico (including Alamo Dorado and Cerro San Pedro). These increases will be partially offset by declines in Australia, the United States and, significantly, Chile. It reported that continued growth in silver production is expected in 2009, with most of the gains coming from a full year of output at Kupol and San Bartolome (Bolivia) plus anticipated growth in Mexico, yet this rise will be lower than had been formerly projected. (more…)

AngloGold Ashanti strikes US$1 Bln loan facility deal - Update

RTTNews.com — Fri, 21 Nov 2008 07:33:00 +0000

gold producer AngloGold Ashanti Ltd. (AU: News ) said it entered into a US$1 billion term loan facility agreement with Standard Chartered Bank (STAN.L: News ) to refinance its convertible bond. AngloGold Ashanti noted that the term facility is available

Krugman and El-Erian in the Valley of FUD

Seeking Alpha — Fri, 21 Nov 2008 03:47:00 +0000

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Joy Global’s Ludicrous Valuations

Seeking Alpha — Fri, 21 Nov 2008 03:26:00 +0000

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Famous Thoughts for a Bear Market

Seeking Alpha — Thu, 20 Nov 2008 22:15:00 +0000

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Fitch Says Holiday Retail Sales Could be Weakest in 20 years

Seeking Alpha — Thu, 20 Nov 2008 22:02:00 +0000

Gammon Gold Cut To Underperform From Sector Perform By Scotia >GRS

Wall Street Journal — Thu, 20 Nov 2008 21:39:00 +0000

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Chinese, Peru banks to work on El Galeno copper-gold project

Platts — Thu, 20 Nov 2008 21:14:00 +0000

China's development bank and the biggest bank in Peru, privately owned Banco de Credito, have signed an agreement to finance the development of a Chinese-owned deposit in northern Peru. The deposit is estimated to contain 8.26 billion lb of copper and

TidalWave Holdings executes LoI to acquire

Steel Guru — Thu, 20 Nov 2008 19:38:00 +0000

including Scrap Steel HMS 1 & 2, scrap lead, manganese ore, iron ore, tin ore, chrome ore, steam coal, gold, silver, titanium sponge, e scrap and waste paper. NYMET has developed an extensive presence in South America mining sector and several other

PMI Gold Corporation - Bridge loan extension/Board appointments

Canadian News Wire — Thu, 20 Nov 2008 17:51:00 +0000

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Severstal Resources acquires a controlling stake in High River Gold

Canadian News Wire — Thu, 20 Nov 2008 16:08:00 +0000

MOSCOW, Nov. 20 /CNW/ - ZAO Severstal Resources, the mining division of OAO Severstal (LSE: SVST; RTS CHMF), today announces that it has acquired approximately 282.3 million newly issued common shares of High River Gold