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Gold Stocks Vs. Gold: Who’s Winning?

Thu, 17 Sep 2009 18:34:25 GMT

The summer doldrums foretold for gold investors (see "The Season For Gold? Not Yet") came to an abrupt end in September, as the yellow metal broke—and stayed—above the $1,000 mark.[More...]

3 Ways To Play The Surge In Gold - Investment Ideas

Tue, 08 Sep 2009 16:20:00 GMT

Gold is all the rage lately as investors seek refuge amid in an economy that is seeing a weaker dollar and facing the threat of inflation from all the stimulus that has been pumped into the economy to help pull us out of a recession. Traders are also driving gold higher as scramble to take advantage of the recent upswing.[More...]

Commodities Rally; Forecasts Don't

Wed, 03 Jun 2009 21:50:12 GMT

Commodity prices have been soaring. Oil, gold, copper, wheat and corn all recently hit multi-month highs. Even the Duke Brothers are making a mint on orange juice futures. A steady stream of economic data showing a slower pace of deterioration in the U.S. has been the primary driver behind the recent surge. Also playing a role is the combination of a higher tolerance for risk, weekly fluctuations in inventories, the spring planting season, the dollar and sustained growth in China. What's interesting about the rally is that it has yet to translate into higher earnings estimates for commodity-related companies. Agriculture Companies Wheat and corn futures recently set 8-month highs. Other agricultural-related futures have also soared, such as coffee. Profit forecasts for agricultural companies, however, have been trending[More...]

Time For The "Commodities Contrarian Contango" With Precious Metals And Energy

Fri, 15 May 2009 12:25:51 GMT

Gold and Silver has had an amazing run since last December, and even more impressive have been the mining shares like Agnico-Eagle (NYSE:AEM), Goldcorp (NYSE:GG) and Barrick Gold (NYSE:ABX).[More...]

Cramer: Guard Against Inflation With Gold

Thu, 30 Apr 2009 16:43:00 GMT

Jim Cramer for the last few months has been advising viewers to hedge themselves against the real possibility of a ramp up in inflation. In the past, I can recall him saying that a properly diversified portfolio should have as much as 20% allocated to gold and other precious metals. While, Cramer has a tendency for hyperbole, as you can see in the quote as he talks about “wheelbarrow currency”, there is still wisdom in hedging your portfolio somewhat against inflation. He had this to say prior to interviewing the CEO of Agnico-Eagle (AEM) [More...]

Yin And Yang Gold Stocks

Wed, 29 Apr 2009 04:29:42 GMT

On the eve of earnings releases for two major gold mining outfits, HardAssetsInvestor.com's managing editor parses the numbers. A study in contrastsHow hedging factors inTesting the earnings momentum scorecard[More...]

Market Report For Friday: Apr 17, 2009

Fri, 17 Apr 2009 13:00:45 GMT

(7:11am ET) There was plenty of economic data released in the US during the day; however the equity market sidetracked until 2pm ET, when with prices at modest losing levels on the week until that point, suddenly, and for no discernable reason, there was a rally that left the indexes with small gains through Thursday. Perhaps traders were anticipating a positive quarterly report from Google (GOOG +2.4% on +151% of average daily trading volume)? After the close, the company did not disappoint, beating both revenue and EPS estimates. The company posted net income of $1.42 billion ($5.16/share), up +8% from the $1.31 billion ($4.84/share) recorded during the same period a year ago. Revenue for 1Q2009 increased +10% to $4.07 billion, from $3.7 billion, excluding traffic acquisition costs. On average, analysts had expected earnings per share of $4.93 and revenue of $4.08 billion, according to Yahoo Finance. For the first[More...]

Bear Flag Breaks In Gold - AEM

Fri, 17 Apr 2009 03:40:26 GMT

A question was ask in the comments about the following from last night's Technical Picture. "Gold might be forming a bear flag, but overall it is in the context of a larger trading range (TF). "Flags" which form within TRs are always suspect." The gold sector/index chart ($XAU) below shows that the bear flag formed above the trend line and at approximately the same price level as recent congestion. [More...]

Daily Report For Thursday, Apr 16, 2009

Thu, 16 Apr 2009 13:36:24 GMT

(8:25am ET) The main focus of traders today will be the 1Q2009 earnings report from JP Morgan (JPM), and the close scrutiny of the data and hype that will follow. After hitting a low of $14.93 in early March, JPM has rallied +118.1% to yesterday’s close of $32.56. There was a high of $34.15 on Tuesday. http://tinyurl.com/da6dcv JP Morgan reported Q1 net income of $2.14 billion, or $0.40/share, down -10% from a year earlier, but beat analysts' expectations. Revenue increased +48% to $25.03 billion. WSJ reported that CEO Jamie Dimon said the firm extended about $150 billion in new credit to consumer and corporate customers during the quarter. With a last hour rally spurred by the real estate investment trusts (REITS) ($DJR +8.7%) and Banks ($BKX +5.1%) in the Financial sector (XLF +4.8%), the US equity[More...]

Daily Report For Tuesday, Apr 14, 2009

Tue, 14 Apr 2009 14:18:59 GMT

(9:30am ET) Stocks in NY sank at the open following various negative reports from TV talking heads, though trade volume was weak on the Easter Monday. After the close, Goldman Sachs surprised with unusually positive revenue and earnings. Today, President Obama will be making a speech on the state of the economy. Traders are confused. Yesterday was pretty much a lost day in the market. Very little of consequence happened. By the close, the DJIA’s small loss (-25.57 -0.32% to 8057.81) offset the small gain in the S&P (+2.17 +0.25% to 858.73), while the NASDAQ (+0.77 +0.05% to 1653.31) was flat. The Toronto Composite (+98.50 +1.07% to 9285.6) and the Toronto Venture Board (+11.89 +1.23% to 980.86) were stronger as the metal miners and goldminers enjoyed a good day. Except for Japan’s Nikkei 225 index (-0.92% to 8842.7), prices today were strong in the major international equity markets: Australia (+2.22% to[More...]

Agnico-Eagle Reports Q2 2009 Results; Record Quarterly Gold Production; Commercial Production Achieved at Lapa and Kittila Mines; Expansion Projects Approved at Goldex and Pinos Altos

Wed, 29 Jul 2009 21:48:00 GMT

Stock Symbol: AEM (NYSE and TSX)
TORONTO, July 29 /CNW/ - Agnico-Eagle Mines Limited ("Agnico- Eagle" or the "Company") today reported quarterly net income of $1.2 million, or $0.01 per share, for the second quarter of 2009.
Additionally, over the next several quarters we expect to release the results of two more expansion studies, at Meadowbank and Kittila, further adding to our production growth beyond 2010," added Mr. Boyd.

[More...]

Gold Participation and Income Fund Announces Exchange Ratios

Mon, 20 Jul 2009 21:51:00 GMT

TORONTO, July 20 /CNW/ - Gold Participation and Income Fund (the "Fund"), a closed-end investment trust designed to provide investors with Canadian-dollar exposure to the long-term performance of gold bullion and gold equity securities while providing a monthly distribution stream and mitigating downside risk, is pleased to announce the exchange ratios for the Fund's exchange option (the "Exchange Option") with respect to its initial public offering.
Under the Exchange Option, prospective purchasers had the opportunity to exchange Shares of SPDR Gold Trust and freely- tradeable listed securities of issuers in the S&P/TSX Global Gold Index or the S&P/TSX 60 Index (collectively, "Exchange Securities") for Combined Units of the Fund (each Combined Unit consisting of one Unit of the Fund and one Warrant for one Unit).
Under the Exchange Option, the number of Combined Units issuable in exchange for Exchange Securities deposited by prospective purchasers was determined by dividing the weighted average trading price of the Exchange Securities on the Toronto Stock Exchange, The New York Stock Exchange or The NASDAQ Stock Market, as the case may be, during the three consecutive trading days ending on July 17, 2009, as adjusted to reflect dividends declared or distributions pending which will not be received by the Fund (such adjusted trading price being the "Exchange Price") by $12.00 (being the issue price of a Combined Unit).

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Agnico-Eagle Reports Q1 2009 Results; Record Quarterly Gold Production; Lapa Mine Produces First Gold; Kittila Mill Commissioning Ongoing

Wed, 29 Apr 2009 20:52:00 GMT

Stock Symbol: AEM (NYSE and TSX)
TORONTO, April 29 /CNW/ - Agnico-Eagle Mines Limited ("Agnico- Eagle" or the "Company") today reported quarterly net income of $54.3 million, or $0.35 per share for the first quarter of 2009.
First quarter 2009 cash provided by operating activities was $48.8 million, down from cash provided by operating activities of $54.6 million in the first quarter of 2008, primarily due to lower metal prices for gold, zinc, silver and copper, offset partly by higher gold production.

[More...]

Recession Takes Bite Out of Farm Equipment Profits

Sun, 22 Mar 2009 09:47:00 GMT

Mar. 22--Duane Wallin knows the downturn is coming and is acting accordingly.
Wallin is general manager of Colorado Equipment, a John Deere dealership that includes a store in Greeley along with seven others in Colorado and Wyoming.
He agrees with the Association of Equipment Manufacturers that predicts sales of farm equipment will remain fairly good for the start of 2009, but then the recession will catch up and a downturn will result.

[More...]

Exploration: Shifting From High Times to Low Expectations

Thu, 01 Jan 2009 07:49:00 GMT

Although a number of drilling services companies recorded record levels of business throughout most of 2008, the sudden collapse of base metal prices during the fourth quarter forced them to end the year focused on cost-cutting.
For the mining industry-with apologies to poet T.S. Eliot-2008 ended not with a bang, but with a shudder.
A quick unravelling of commodity prices, disappearance of credit sources for juniors and a mass exodus of investors has put most mining companies in a position that traditionally spells trouble for mineral exploration funding and activity.

[More...]

ADB Cuts RP Economic Growth Forecast

Thu, 11 Dec 2008 17:50:00 GMT

Dec. 12--THE Asian Development Bank (ADB) on Thursday trimmed the Philippines' economic growth forecast for this year and next owing to weak exports and consumer spending as a result of the global financial crisis.
In its December issue of the Asia Economic Monitor (AEM), the Manila-based lender said the Philippine' gross domestic product (GDP) is likely to grow 3.5 percent next year, or 2-percentage points lower than the 5.5- percent forecast made in July.
The ADB projection next year was way below the government's target of 3.7 percent to 4.7 percent.

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Golden Spirit Enters the Gold Mining Sector

Fri, 30 Oct 2009 10:47:00 GMT

Golden Spirit Enterprises Ltd. (OTCBB: GSPT) reports the company has entered into an Option Purchase Agreement with a Utah-based Resource Company (Vendor) to acquire a 100% interest in a block of strategically located gold mineral lease claims in east central Nevada.
The Company will be required to provide cash payments in installments and issue shares of the Company's stock to the Vendor for entry into this exclusive Option Purchase Agreement.
Golden Spirit also will be required to provide working capital to complete a two phase exploration program, and to define potential drill targets on the claim block.

[More...]

First Gold Initiates Work on Its Lithium Properties

Thu, 29 Oct 2009 17:47:00 GMT

First Gold Exploration Inc. (TSX VENTURE: EFG) (FRANKFURT: F12) has mobilized two field crews to carry out work on the Eastmain Lithium property, located in the Eastmain Greenstone Belt.
Historical results include 2.5% Li2O or 11,600 ppm Li; 0.007% Be (Lac Pivert showing); 4.08% Mo or 40,800 ppm Mo (Lac Ell-Ouest showing); and 0.46% Li2O and 0.01% Be (Lac Rose showing) (Source: MRNFQ).
Assay results will be released as they become available, along with Quality Assurance / Quality Control protocols.

[More...]

Agnico-Eagle Reports Q2 2009 Results; Record Quarterly Gold Production; Commercial Production Achieved at Lapa and Kittila Mines; Expansion Projects Approved at Goldex and Pinos Altos

Wed, 29 Jul 2009 20:51:00 GMT

TORONTO, July 29 /PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") today reported quarterly net income of $1.2 million, or $0.01 per share, for the second quarter of 2009.
Excluding these non-cash items, net income increased significantly when compared to the second quarter of 2008 due to a large increase in gold revenue.
Additionally, over the next several quarters we expect to release the results of two more expansion studies, at Meadowbank and Kittila, further adding to our production growth beyond 2010," added Mr. Boyd.

[More...]

Webcast Alert: Agnico Eagle Mines Limited Second Quarter 2009 Results and Webcast Conference Call

Mon, 27 Jul 2009 14:55:00 GMT

- Agnico Eagle Mines Limited announces the following Webcast:[More...]

American Bonanza Gold Corp.: Drilling Expands the Year One D-Zone at Copperstone

Wed, 22 Jul 2009 16:50:00 GMT

American Bonanza Gold Corp. (TSX: BZA) ("Bonanza") has drilled high grade gold on the southern edge of the D-Zone mineralization at the 100% owned Copperstone Project in Arizona.
These drill results will likely expand the high grade mineralized material that will be targeted for mining during the first year of the mine life.
The Copperstone project produced one-half million ounces of gold between 1987 and 1993 and Bonanza is currently planning the re-activation of mining on the project during 2010.

[More...]

Agnico-Eagle increases credit lines to over US$900 million

Mon, 15 Jun 2009 22:28:00 GMT

Stock Symbols: AEM (NYSE and TSX) TORONTO, June 15 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") announced today that it has executed a new non-amortizing US$600 million revolving credit facility, maturing June 2012. The new facility replaces a pre-existing US$300 million tranche of the Company's credit lines that would have matured September 2010. Including its remaining tranche of the pre-existing credit facilities (non-amortizing US$300 million revolving credit line, maturing January 2013), the Company now has US$900 million of credit lines. Both credit facilities are unsecured. The new facility is being provided by a syndicate of international banks led by Scotia Capital (Joint ...[More...]

Agnico-Eagle provides notice of release of second quarter 2009 results and conference call

Thu, 11 Jun 2009 17:55:00 GMT

Stock Symbols: AEM (NYSE and TSX) TORONTO, June 11 /CNW/ - Agnico-Eagle Mines Limited today announced that it will release its second quarter 2009 results on Wednesday, July 29, 2009, after normal trading hours.[More...]

Midland Provides an Update in Its James Bay Gold Project

Wed, 03 Jun 2009 13:49:00 GMT

Midland Exploration Inc. ("Midland") (TSX VENTURE: MD) is pleased to announce it has received positive interpretation results from its targeted winter exploration program intended to identify geophysical anomalies associated with new gold bearing outcrops found in 2008.
Midland 100%-owned James Bay Gold project is currently under the second year of an option agreement with Agnico-Eagle Mines Limited ("Agnico-Eagle").
A magnetic and electromagnetic survey was initiated on the Eade North and North Whip Showings while a magnetic and induced polarization (IP) program was commenced on the Golden Idol, Lost Grub and Pankot's Palace gold showings.

[More...]