Newmont Gold

European Revolution by December?

European Revolution by December?

The problem with revelations is that they always come when you least expect them. I was in Athens this past weekend— on vacation, against all odds, and not on business. I did the tourist thing: went to the Acropolis; checked out the national museum; found the most out-of-the-way restaurant I could and tried (in vain) to order in Greek. It was the last leg of voyage that I’d been waiting for— that I’d needed — for quite some time. But, as usual, the shadow of work was following me. Even when I intentionally isolated myself from my e-mail accounts and my Blackberry, my professional mind just couldn’t ignore the signs. Between the closed shops and the graffiti that was, quite literally, providing the writing on the walls, clues about Europe’s economic future were impossible to ignore. Of course, it wasn’t anything I didn’t know already… Anybody with a pulse has been hearing about Europe’s financial woes for much of the last year. Between the trillion-dollar bailout, the multitude of bank failures, skyrocketing inflation, and the euro’s collapse, the world’s second biggest economy is a giant on life support. And now, it seems its citizens themselves are getting ready to pull the plug. This particular revelation happened in the final hours of my trip. We were on the way to the airport, riding in a Skoda Taxi driven by Andreas, a mid-thirties native Greek who had once owned his own residential contracting company. His English was a bit spotty, but he had no problem at all expressing himself when it came to his life, and where he saw it going if things didn’t change soon. “Foreigners can come in and buy the land as much as they want. It has never been as popular,” he said after I reflexively mentioned the idea of vacation property in the Greek Isles. “But I cannot make my payments. My business is gone… My money is gone.” With three times the average inflation rate of the Eurozone, and with an annual budget deficit of 13.4%, Andreas’s pains were easy to understand. But at least he had a job, which is much more than 12% (a 10-year high for Greece) of the population can say. I knew these numbers almost by heart, but it wasn’t until he delivered his next statement that I realized what this meant, on a personal level, to …

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Greed Has Never Been Better

Greed Has Never Been Better

A few weeks ago, I received a reader response mildly chastising me for taking on what he referred to as a “greed is good” tone in an article I wrote about Mongolian oil exploration. To those of you who are not instantly reminded of where this phrase comes from, let me jog your memory: Greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. Gordon Gekko, Wall Street (1987) Now, I know what you’re probably thinking right now… How dare this financial publisher, this self-proclaimed provider of financial advice and sound investing possibly be advocating more of the same behavior that landed this nation, and most of the developed world, into a financial disaster the likes of which only my grandparents’ generation can remember first-hand? Well, let me be the first to tell you that I’m not advocating irresponsibility or the blind quest for the bottom dollar. That’s the exact opposite of what I’m doing. Greed, you see— the kind that Mr. Gekko spoke about 23 years ago, and the kind that is now being credited with sowing the seeds of global economic calamity — is actually the only thing that will ever pull us out of this death spiral. The desire for more than is required for basic survival has driven human endeavor up to this point. The constant quest for more, for better, for quicker, faster, and more potent satisfaction has been the impetus behind all human greatness. And contrary to what my detractors will go to their grave screaming, it’s not greed, but the lack of greed; the lack of personal ambition; the increased reliance on credit in place of productivity; the increased appetite for saturated fat over muscle-building protein, that has landed us in this mess. If all of us had been working, laboring, greedily searching out opportunities and carrying them through to fruition instead of sitting around and waiting for the next wave of success to land on our heads as it did when our parents and grandparents passed it off to us… We would be growing now — not declining. I grew up in a working class family, went to public school, and had …

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Barrick (NYSE:ABX), Goldcorp (NYSE:GG), Newmont (NYSE:NEM) All Glad Down Week is Over

Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG) and Newmont Mining (NYSE:NEM) were all down again the last week, as gold struggled to find support with conflicting economic reports having investors moving from Treasury’s to gold during the week as they fled to safe havens.Gold prices for the week ended at $1,211.30, finishing the Friday session up $11.90.Only Barrick benefited of the three gold

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Newmont Mining (NYSE:NEM), Barrick Gold (NYSE:ABX) Continue to Look Strong

Giant gold mining companies Newmont Mining (NYSE:NEM) and Barrick Gold (NYSE:ABX) (TSE:ABX) look like they’ll continue to perform strongly going forward, as Newmont not only has three solid quarters in a row under their belt, but analysts think they’re going to almost jump in earnings in the current quarter by just under 100 percent, looking for profits to grow by 93 percent. Last quarter

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Today’s Gold Prices Bouncing Around

Gold prices have been swinging wildly today, as traders seem to be having some influence there, and the seemingly endless news concerning the EU sovereign debt crisis continues to move the metal up and down, along with other precious metals as well. Gold prices today had reached almost $1,250, before pulling back to below yesterday’s record. Now they’ve moved back up in the positive again, as

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Exeter Resource (TSE:XRC) Looking for Buyers

Exeter ResourceExeter Resource (TSE:XRC) has reportedly attracted significant interest in selling the company and its Caspiche gold-copper-silver project in Chile.Along with some interest from the Chinese, other major gold companies interested are Newmont (NYSE:NEM), Barrick (TSE:ABX) and Kinross (TSE:K).It could be a very good deal for either Kinross or Barrick, as they already have operations

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Newmont Mining (NYSE:NEM) Continues to Grow

Newmont Mining GrowthNewmont Mining (NYSE:NEM) continues to be a favorite among gold stocks, as the company is expected to continue on its upward growth trajectory, although not at the levels it has in the recent past, which of course would have been hard to sustain for any company in any sector.Even so, Newmont is expected to grow faster than the majority of the market, and will continue being a

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Newmont Mining (NYSE:NEM) Continues to Grow

Newmont Mining GrowthNewmont Mining (NYSE:NEM) continues to be a favorite among gold stocks, as the company is expected to continue on its upward growth trajectory, although not at the levels it has in the recent past, which of course would have been hard to sustain for any company in any sector.Even so, Newmont is expected to grow faster than the majority of the market, and will continue being a

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Newmont Mining (NYSE:NEM) CEO: Gold Prices Surging

Gold Prices Rising Newmont Mining (NYSE:NEM) CEO Richard O’Brien recently said he believes the misguided monetary policies of the governments around the world ensure gold prices will rise as inflation increases and currencies fall in value. Consequently, O’Brien thinks gold could reach as high as $1,500 an ounce over the next several years, as the consequences of central banks printing money to

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Goldcorp (NYSE:GG) Growth Strategy

Goldcorp Growth StrategyAccording to Goldcorp (NYSE:GG) CEO Charles Jeannes, the company could grow the company quicker than he is planning at this time, but lessons from major rivals like Barrick Gold (TSE:ABX) and Newmont Mining (NYSE:NEM) give him a check on that, and he’s look at a more modest doubling of gold production from now through about 2018.From there, Jeannes said it’ll be hard to

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