BacTech Appoints Goldco Director
BacTech Mining Corporation (”BacTech” or the “Company”)(TSX VENTURE:BM) is pleased to announce that Mark Burridge has agreed, in principle, to become a Director of the new mining company (”Goldco”) being spun out from BacTech, upon its establishment. Up until the spin out, Mr. Burridge will assume the title of Chairman of the gold subsidiary.
Mr. Burridge will work closely with existing BacTech personnel to oversee the corporate and project development activities required to establish Goldco as a recognized industry participant. Other key BacTech personnel involved with Goldco include Ross Orr, President & CEO and another intended Director of Goldco, Lou Nagy, Chief Financial Officer, Dr. Paul Miller, Vice President Technology & Engineering, Dr. Junxiang Guo, Vice President Metallurgy, and Peter Secker, Director of Projects and Engineering. Read more
Kent Exploration Inc.: Diamond Drill Program Commences at Gnaweeda Gold Project
Kent Exploration Inc. (the “Company” or “Kent”) (TSX VENTURE:KEX) is pleased to announce that through its wholly owned subsidiaries, Archean Star Resources Australia Pty Ltd and Archean Star Resources Inc. (together “Archean”), it has commenced the first phase of a two-phase diamond drill program on the Gnaweeda Gold Project in the northern Murchison Province of Western Australia.
This first-phase drill program consists of eight HQ diamond drill holes totalling approximately 1,500 meters, of which five holes totalling approximately 1,100 meters are to be drilled on the Turnberry Zone and three holes of approximately 450 meters are to be drilled at the Bunarra Zone. Since 2006, Teck Australia Pty Ltd (”Teck”) conducted limited Reverse Circulation drilling (<300m deep) that returned significant gold intersections on the Turnberry zone at depths ranging from 17m to 280m, including; 4m at 17.7g/t Au, (including a 1m intersection of 59.27g/t Au), 5m at 13.49g/t Au, 5m at 11.64g/t Au, 3m at 11.87g/t Au, 3m at 4.85g/t Au and 3m at 4.39g/t Au. Read more
Will the Gold Price Be Volatile in 2010? By Jack Wogan
In the year 2010, we will soon be hearing good news from the macroeconomic side, but the interest rate will continue to rise. So, we can expect a lot of instability in the year 2010. According to different analysis, gold prices will go unstable in 2010, but in a downward direction. One of the reasons is that investors who hedge against uncertainty and inflation risks are supporting gold prices. The assumption for 2010 is $900 which is a rise of 13%.
Dollar and gold prices move in the opposite direction, whereas gold and euro move together. So, if euro is in crisis, we will see losses for gold in the future. Over the last years, there has been correlation of +0.52 among gold and euro. It is expected that this correlation may even rise further. Read more
Today: Gold, Silver Prices in India
Silver zooms, gold declines
Mumbai, Jan 6 (UNI) Speculative demand today saw Silver zoom by Rs 310 to settle at Rs 28,285 per kg, while Gold declined by Rs 55 to Rs 16,805 per ten gm on sluggish demand from industrial users, traders at the Bombay Bullion Association (BBA) said.
The white metal has surged by Rs 900 in the last three days.
Silver opened at Rs 28,300 per kg, soaring by Rs 325 against its overnight close. At the end of the day, it stood at Rs 28,285 per kg with a gain of Rs 310.
Standard gold and Pure gold resumed down by Rs 25 per ten gm each. Later, this gap widened and Standard gold and Pure gold settled at Rs 16,805 and Rs 16,885, declining by Rs 55 and Rs 60 per ten gm respectively, traders added.
In London and Asian markets, Gold was quoted low at USD 1123.00/1123.02 per troy ounce and Silver was up a USD 17.90/17.92 per troy ounce from their previous close, traders said. Read more
Adds 3% in Euros Following India-IMF News, Gold Leaps to New Dollar Highs
From Chris Mullen at GoldSeek.com…
Gold jumped near a new record high late Monday night, reaching as high as $1065.92 in early Asian trade after it was announced that India bought 200 metric tonnes of metal from the International Monetary Fund, and then surging again in New York trade to make new all-time highs at $1085.95.
For the session, the Gold Price in Dollars ended with a gain of 2.9%. The Euro price of Gold leapt to €739 an ounce, up more than 3% on the day.
Oil rose in late trade as the US Dollar index reversed notable early gains and ended only slightly higher after decent economic data – showing a sharper than expected rise in US factory orders – plus Warren Buffett’s decision to buy Burlington Northern in what he described as a “bet on the country” eased banking fears. Read more
Explor Resources Announce Annual General Meeting
Explor Resources Inc. is pleased to announce that at the Annual General Meeting held on October 26, 2009 the following directors were elected: Christian Dupont, of Janeville New Brunswick, Geoff Carter, of Toronto, Ontario, Mario Colantonio of Porcupine, Ontario and Jacques Frigon, of Amos, Quebec.
The accounting firm of Dallaire & Lapointe Inc. were re-appointed as auditors. The shareholders have also approved the continuation of the Company’s stock option plan. Read more
