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NEWS

It's Official - China to Consider Gold!
David N. Vaughn, Gold Letter, Inc.
Gold Letter Website, January 13, 2006


"China said Thursday that it would diversify its foreign-exchange reserves away from U.S. dollars and government bonds." This news about China preparing to "diversify" their reserves will have strong implications for a rising gold price & a very favorable long term gold market.

"The latest run for bullion follows Friday's news that the Central Bank of China wants to diversify part of its record $769bn in reserves away from the US Dollar. ANALYSTS BELIEVE GOLD IS AN OBVIOUS BENEFICIARY OF THIS CHANGED APPROACH."

 

Dubai- truly a 'City of Gold'
Enterprise Dubai
Issue 40 May 2005 - Jul 2005


Dubai is living up to its long held image of being a 'City of Gold' by posting spectacular growth in the sale of yellow metal thereby furthering reinforcing Dubai's position as the gold and jewellery hub of the world.

The Dubai Gold and Jewellery Group, functioning under the aegis of the Dubai Department of Economic Development, says the emirate recorded AED 600 million in sales in jewelry and bullion during the DSF-2005.

Dubai enjoys the world's highest per capita consumption of gold with an average of 36 grams per person.

Gold's lustre prompts fears of price bubble
Fri Oct 3, 5:50 PM ET
By Kevin Morrison in London


The gold market is riding high and as prices come within striking distance of breaking through a seven-year high, traders are asking whether bullion will reach new heights.

Gold prices have risen 20 per cent in the past 12 months on the back of a significant decline in the US dollar over this period, the fears of both deflation and rising inflation, and the more mundane effect of gold producers buying back large volumes of forward gold sales.

Gold would have to rise another 8 per cent to exceed the February 1996 high of $417.70 a troy ounce from its current level of $382 per oz.

 

Saudis to double gold output, expand mining
Posted: Wednesday, February 26, 2003
Riyadh


Saudi Arabia plans to double its gold production over the next five years, despite the closure of ancient mines in the Kingdom.At 220,000 ounces per year, the desert kingdom's gold output is tiny by global standards, but surging bullion prices have given impetus to expansion plans, said Abdullah Dabbagh, president and chief executive of state-mining company Maaden."We expect that in five years we will double gold output in Saudi Arabia," Dabbagh said on Wednesday.

 

Harmony Commences Trading on the New York Stock Exchange (NYSE)
Harmony Gold Mining Company Limited
Wednesday November 27, 9:35 am ET



JOHANNESBURG, South Africa, Nov. 27 /PRNewswire-FirstCall/ -- Harmony Gold Mining Company Limited (NYSE: HMY; JSE: HAR), the world's fifth largest gold producer, today announced that its American Depositary Receipts commenced trading on the New York Stock Exchange (NYSE) under the symbol "HMY". The Company's warrants also began trading on the NYSE under the symbol "HMYWS". No new shares were issued in connection with the listing.

 

Scintilla Middle East Launch
First Company in the World to employ 'Table-Branding' on jewellery
Dubai, 20/10/2002


With its spectacular launch at Burj Al Arab, on the 20th of October, Scintilla, the Monaco based premium brand of diamond jewellery is poised to establish new standards of quality and consumer confidence, in diamond jewellery branding in the region. Scintilla is striving to increase business relations between the G.C.C. and Monaco through its fine jewellery, using Dubai as a hub to the region. Jewellery spend in the Gulf region has been steadily climbing over the past few years and has now reached approximately $1.4 billion, making it the fourth largest market in the World in terms of polished diamond consumption. The UAE's market share amounts to $300 million - with the total Gulf market steadily growing at a healthy rate of 3 to 5 per cent per annum.

 

Barrick Revises 2002 Outlook
Full Year Earnings per Share Expected to be in $0.33-$0.35 range; Q3 in $0.05-$0.06 range
Thursday September 26, 6:00 am ET
Press Release Source: Barrick Gold Corporation



TORONTO--(BUSINESS WIRE)--Sept. 26, 2002-- Barrick Gold Corporation (NYSE:ABX - News; TSX:ABX - News) announced today that it expects 2002 earnings per share in the 33-35 cent range (excluding non-hedge related adjustments)(1) compared to earlier guidance for earnings at the lower end of the 42-47 cent per share range, based in both cases on a $315 spot gold price.

 

 

Apollo Gold Corporation, Exall Resources Limited and Glimmer Resources Inc. Complete Transaction
Monday September 9, 6:05 am ET
Source: Apollo Gold Corporation


 

TORONTO, Sept. 9 /PRNewswire-FirstCall/ -- Apollo Gold Corporation (TSX: APG News ; "Apollo") today announced that it has completed the acquisition of a 100 percent interest in the Glimmer Mine from Exall Resources Limited ("Exall") and Glimmer Resources Inc. ("Glimmer"). The mine was controlled by a joint venture, 52 percent owned by Exall and 48 percent owned by Glimmer, with the operator being Exall.

 

 

 

 

Cambior Completes Rosebel Feasibility Study - Mineral Reserves Increase to 1.9 Million Ounces
Thursday August 29, 7:02 am ET
Source: Cambior Inc.


LONGUEUIL, Quebec--(BUSINESS WIRE)--Aug. 29, 2002--Cambior (AMEX; TSX:CBJ) (all amounts are expressed in U.S. dollars)

Cambior is pleased to announce the completion of a feasibility study for the Rosebel open pit gold project located in Suriname, approximately 80 km south of the capital city of Paramaribo. Highlights of the study include:

  • Probable mineral reserves: 37 million tonnes grading 1.63 g Au/t;
  • Gold contained: 1.93 million ounces;
  • Average annual gold production: 220,000 ounces;
  • Average direct mining cost: $187 per ounce;
  • Current projected mine life: 8 years;
  • Initial capital costs: $95 million;
  • Construction period: 14 months;
  • Internal rate of return: 12% using a long-term gold price of $300 per ounce.

 

Placer Dome extends AurionGold offer
Friday August 30, 4:00 am ET
Source: Placer Dome Inc.


VANCOUVER, CANADA AND BRISBANE, AUSTRALIA, Aug. 30 /PRNewswire-FirstCall/ - Placer Dome Inc. ("Placer Dome") (TSX: PDG, NYSE: PDG, ASX: PDG) announced today that its wholly owned subsidiary, Placer Dome Asia Pacific Limited, has extended the scheduled closing date of its offer for AurionGold Limited ("AurionGold") (the "Offer") by 11 days to 6:00pm (AEST) on Tuesday, 10 September 2002.

 

 

Canada's Glamis to merge with Francisco Gold
Wednesday March 6, 6:55 pm Eastern Time
By Lesley Wroughton

TORONTO, March 6 (Reuters) - In Canada's second small-cap gold merger in less than a month, Glamis Gold Ltd. and Francisco Gold agreed on Wednesday to join forces in a C$196 million ($124 million) deal as market interest returns to the industry.

With prospects of a comeback in the gold price after two decades of decline and bankers eager again to finance gold firms, small miners were revisiting opportunities to expand through mergers, analysts said.
Last month Miramar Mining Corp. and Hope Bay Gold agreed to merge to strengthen their profiles in the Canadian North where they have operated for some years.

 

 

 

New gold and copper discovery in Central Oyu Zone at Turquoise Hill Project in Mongolia's Gobi Desert region
SOURCE: Ivanhoe Mines Ltd.

HIGH-GRADE GOLD AND COPPER MINERALIZATION EXTENDED TO A DEPTH OF AT LEAST 750 METRES AT SOUTHWEST OYU DISCOVERY ZONE
MINERAL INVENTORY FOR SOUTHWEST OYU DISCOVERY ZONE NEARING COMPLETION
MONGOLIA, March 5 /PRNewswire-FirstCall/ - Ivanhoe Mines' Chairman Robert Friedland and Executive Vice-President, Exploration, Douglas Kirwin announced today that the company has made a new gold and copper discovery at the Central Oyu Zone of the Turquoise Hill (Oyu Tolgoi) project in southern Mongolia. In addition, the company's ongoing delineation drilling program has extended the high-grade gold and copper mineralization in the Southwest Oyu Discovery Zone to a true depth of at least 750 metres. An independently prepared preliminary mineral inventory of the Southwest Oyu discovery zone is well advanced and will be released shortly by Ivanhoe.

 

 

 

 

Announcement - Goldcorp receives prestigious Investor Relations award
Thursday February 21, 2:48 pm Eastern Time
SOURCE: Goldcorp Inc.


TORONTO, Feb. - GOLDCORP (GG: NYSE; G: TSE) is pleased to announce that it has been chosen as the winner of the Investor Relations (IR) Magazine's 2002 Canada award for Best Senior Management Communications among large capitalization companies (defined as $1 to $10 billion). Awards were presented last night at the IR Magazine's 2002 Canadian awards ceremony held in Toronto's Royal York Hotel. Goldcorp was also nominated, and received honorable mentions, for three other awards, which were Best Investment Community Meetings; Best Use of Technology; and Best Investor Relations Web Site.

Goldcorp is a North American based gold producer. Its Red Lake mine is the richest gold mine in the world. By market capitalization, we are in the top ten of gold producers globally. In 2001 Goldcorp was the most profitable North American gold company. The company is in excellent financial condition, with no debt and positive free cash flow and earnings. Goldcorp's production is unhedged, which allows its shareholders to participate fully in a rising gold price environment. Goldcorp is listed on the New York and Toronto Stock Exchanges under the trading symbols of GG and G, respectively

 

 

 

Barrick Completes Merger with Homestake
Friday December 14, 5:06 pm Eastern Time
Press Release
SOURCE: Barrick Gold Corporation


Combination Creates World's Largest Gold Mining Company by Market Capitalization

TORONTO- (BUSINESS WIRE)--Dec. 14, 2001-- Barrick Gold Corporation today announced the completion of its merger with Homestake Mining Company, strengthening Barrick's leadership position as the most valuable gold mining company by market capitalization.

 

 

 

GATA Receives Gold-As-Money Contribution From Durban Deep
SOURCE: Gold Anti-Trust Action Committee


DALLAS--(BUSINESS WIRE)--Dec. 3, 2001--Gold miner Durban Roodeport Deep has contributed 30 one-ounce Krugerrands, South Africa's famous gold coin, to the Gold Anti-Trust Action Committee Inc., and GATA will sell them to raise money for its challenge to the U.S. government agencies and bullion banks it accuses of suppressing the gold price.
The coins were presented to GATA Chairman Bill Murphy by Durban CEO Mark Wellesley-Wood during GATA's reception at the New Orleans Investment Conference on Thursday, November 29. Wellesley-Wood congratulated GATA for its defense of gold's traditional role in the international monetary system, and reiterated his company's position that gold is money, not merely a commodity. Wellesley-Wood predicted that gold's nature as money will be fully recognized again soon.


Gold finds new range, holding latest war rally
Tuesday December 4, 6:40 am Eastern Time


LONDON, Dec 4 (Reuters) - Gold found its feet in a new $275.00/278.00 range on Tuesday, as the market waited to see how the conflict in the Middle East would develop, traders said.
Bullion was able to hold onto most of its gains after bouncing more than a dollar higher on Monday as Israel launched a missile strike in response to two Palestinian suicide attacks on the country over the weekend.

By 1125 GMT, spot gold was trading at $276.30/276.80 an ounce, down on the last close in New York on Monday at $277.20/277.70.

 

 

Europe gold holds steady after "neutral" BoE sale
Tuesday November 27, 11:33 am Eastern Time



LONDON, Nov 27 (Reuters) - Gold marked time on Tuesday afternoon after absorbing another 20 tonnes of metal sold by the Bank of England at auction earlier in the day, but prices were seen drifting lower, traders said.

The amount of gold on offer was 2.6 times oversubscribed, and attracted bids totalling 1,655,600 ounces.

Dealers said the market's lack of reaction to the sale -- the BoE's 15th sale of gold since 1999-- was a reflection of the ``routine auctions'' held by the bank every other month.

The previous BoE sale, which came after the September 11 attacks in the United States was covered 4.3 times at $280.00.

 

Indians likely to buy more gold
Tuesday, November 27, 2001


India, the world's largest consumer of gold, is likely to step up imports in the short term to take advantage of attractive global prices and rising demand for jewellery, traders and analysts said yesterday. They said a 20-tonne gold reserve auction by Bank of England today was unlikely to cause any wild fluctuations in prices and it would remain in the range of $270-280 per troy ounce. There is good demand for jewellery and Indians are comfortable in importing gold at current prices, a bullion dealer based in Ahmedabad, told Retuters. Most Indian traders expect the auction to attract buying at around $271-272 and the yellow metal to continue to trade in the $270-280 range in the short term. India's gold demand had waned due to spurt in price after the attacks on United States and softening of prices in the last couple of weeks had revived demand, traders said.

Newmont looks for more bid targets
By Simone Deane
Tuesday November 27, 10:34 pm Eastern Time



MELBOURNE, Nov 28 (Reuters) - Newmont Mining Corp said on Wednesday a successful takeover of Australia's Normandy Mining Ltd (Australia:NDY.AX - news) could be a launch pad for more acquisitions in the region, with Lihir Gold Ltd (Australia:LHG.AX - news) among the potential targets. U.S.-based Newmont launched a bid for Normandy earlier this month, topping an offer by AngloGold Ltd .

 

 

 

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