Posts from — January 2009

The term rally and bullish should continue for gold and gold futures over the next year or so, as it shouldn’t have any problem breaking above the $900 an ounce barrier and soaring from there. Gold and silver mining producers or companies will also do great this year, not only from demand, but operations will cost much less as energy costs, which are a key cost for gold mining companies, will

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Gold and Gold Mining Companies: Prices to Soar?

DRDGOLD, the fourth largest gold producer in South Africa announced it is cutting 1,335 jobs at it shut down a mine east of Johannesburg.The workers losing their jobs are part of a contingent that labored at the ERPM mine that closed in October for maintanence related to underground water problems. The ERPM mine had to be shut down underground as the pumps used to handle the underwater situation

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DRDGOLD: South African Gold Miner Cutting 1,335 Jobs

World Gold Council report of gold performance for 2008NEW YORK & LONDON – (Business Wire) Gold proved its metal in 2008, according to World Gold Council’s latest Gold Investment Digest, providing a safe haven and long term store of value for investors in record volume and outperforming many other assets in relative price and volatility terms.Despite one of the most tumultuous years in financial

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World Gold Council: Gold Investment Digest Report – 2008

Aaron Regent became the head of Barrick Gold Corp. (ABX) today, succeeding company founder and chairman Peter Munk, 81. Munk had stepped into the role when former CEO Greg Wilkins had to go on leave for medical reasons

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Aaron Regent Takes Over CEO Reigns of Barrick Gold

While gold could average around $915 an ounce in the first part of 2009, it’s in the second half that it could really soar, according to consultancy GFMS in its Gold Survey 2008 report. They project gold could reach as high as $1,080 an ounce as the U.S. dollar inevitably weakens.

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GFMS Looks for Gold to Surge in Second Half of 2009

For the third session in a row gold prices plummeted, as poor retail sales and the continued strength of the U.S. dollar put downward pressure on the metal.It was no surprise to investors that retail sales were weak, but the numbers were down over twice the expected decline, falling by 2.7 percent last month. Declines have happened in the retail sector now for six straight months.This will

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Gold Falls for Third Session in a Row on Poor Retail Sales, Dollar Strength

Annual gold production at Gammon Gold (GRS) increased by 27 percent, spurring the company to say things are now turned around.For 2008, the company mined 154,428 ounces of gold, while also bringing out another 5,778,428 ounces of silver. The gold-to-silver ratio of 59:1 helped the company improve its cash costs, as the $539 gold equivalent ounce was 20 percent better than 2007.

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Gammon Gold Raises 2009 Guidance as Gold Production Up 27 Percent

UC HUB has done a thorough check on title and lien checks for gold mining properties.Los Angeles, CA, January 11, 2009 –(PR.com)– UC Hub Group Completes First Phase of Mining Title Due Diligence.UC Hub Group Inc (OTC BB UCHB.OB-NEWS) per its recently announced formal asset acquisition of gold mining contracts continues to aggressively vet the said assets.In their efforts for compliance with

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UC HUB Performs Gold Mining Due Diligence

TORONTO, ONTARIO – Alamos Gold Inc.

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Alamos Gold Inc. Reports Strong Fourth Quarter and Full Year 2008 Production and Provides 2009 Operating Forecast

ENCINITAS, CA – GOLD ROCK HOLDINGS, INC.’s (GOLD ROCK) (PINKSHEETS: GRHI) Board of Directors today announced its decision to select Larry Bailey, former White House official and noted Urban Specialist and Businessman, as its President. Gold Rock Holdings and its wholly owned subsidiaries represent over 60 years of domestic and international construction and building projects

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Gold Rock Holdings, INC. (GRHI) Appoints President

In a move to lower its debt load, New Gold Inc (NGD.TO) bought back C$50 million of its senior secured notes at 40 percent off their face value. As a result, the senior secured debt load of the company will fall from C$237 million to C$187 million. That will also help the company cut an annual C$5 million in costs related to interest from the lowered debt.Overall debt for the company will be down

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"New Gold Inc." Lowers Debt by Buying Back Senior Secured Notes

Silverado Announces Results of Preliminary Feasibility Study on Workman’sBench Gold and Antimony Deposit at Nolan CreekVANCOUVER, Jan.

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Silverado Announces Results of Preliminary Feasibility Study on Workman’s Bench Gold