Gold rally has legs on voracious China demand, bullish options

Colt Resources (TSX-V:GTP) added 5.9% on Thursday on higher than usual trading volumes, after announcing positive drill results from its Boa Fé gold project in southern Portugal.

Shares of Avion Gold failed to recover on Thursday after taking a 28% pummeling the day before, despite announcing vastly improved mineral resources at its Tabakoto Project in Mali, West Africa.

Africa's largest gold miner AngloGold Ashanti (NYSE:AU) posted first-quarter earnings Thursday of $429 million, which more than double the same period last year, despite a drop in production on the year.

African Barrick Gold (LON:ABG) shares rose 6% today as the miner announced its board has approved a $185 million expansion at Bulyanhulu, its underground gold mine in Tanzania.

A proposal by Imperial Metals to develop the Red Chris mine in northern BC is not sitting well with a local First Nation.

Gold is now down almost 17% from its all-time record high of $1,911.60 an ounce set on September 6 last year.

Ryan Gold Corp. (TSX VENTURE:RYG) ("Ryan Gold" or the "Company") is pleased to announce its exploration plans for the 2012 exploration season in the Yukon Territory.

Fearing a backlash by foreign investors in the mining sector – the foundation of the country's economy – Mongolian legislators on Tuesday watered down many of the provisions of draft legislation that gives the state greater control and ownership of mining projects.

Swiss commodities trader Glencore International PLC (LON:GLEN) painted a rosy outlook for the worldwide demand for raw materials this year, as China and the U.S. help offset the impact of the slump in Europe.