VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to report the final assay results for the remaining drill holes from Phase I drilling at the Demirtepe copper-gold-silver-molybdenum project located in western Turkey, where drilling in the Main Zone has consistently intercepted significant shallow mineralization in every hole completed. The most recent assays include the following significant copper-gold-silver and molybdenum intersections
Gold investment demand in China is likely to top a record 200 metric tons this year, the World Gold Council said.
The country’s investment demand surged 70 percent in 2010 to an all-time high of 187 tons, said Albert Cheng, the Far East managing director at the World Gold Council.
China’s “investment demand has picked up exponentially,” Cheng said yesterday in an interview in Montreal. “The financial crisis has triggered people to be cautious of anything they don’t understand,” boosting demand for bullion as an alternative asset.
With the price of silver near 30-year highs, analysts and investors are beginning to question the underperformance of silver mining and streaming stocks.
Agnico Eagle Mines (TSE:AEM) announced on Monday that it had acquired Grayd Resources (CVE:GYD) for $275 million. Grayd is a junior exploration and development company with gold and silver projects in Mexico.
Agnico said the offer price of $2.80 per Grayd share represents a premium of 65.7% to the volume weighted average price of Grayd shares on the TSX Venture Exchange for the 20-day period ended September 16, 2011.
Acadian Mining (TSX:ADA) shares were up 32% in mid-day trading on Monday after the company announced strong drill results from its Fifteen Mile Stream gold project in Nova Scotia, Canada.
The "very slow-moving train wreck" in Greece and Europe is taking down gold and the markets.
Worries that Greece may default on its debt led to the Australian stock market, measured by the S&P/ASX 200, to close down 1.64%. The Hang Seng Index was off 2.76%.
Mid-day, both the Dow Jones and S&P 500 are off 1.7%.
Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") today announced enhancements to its industry leading gold price-linked dividend policy, announced initially in April 2011. Under the enhanced policy, Newmont's annual dividend has the potential to increase to $4.70 per share if the Company's average realized gold price reaches $2,500 per ounce.
The enhanced policy will continue to link the quarterly dividend rate to changes in the gold price but will also provide an additional step up of 7.5 cents per share when the Company's realized gold price for a quarter exceeds $1,700 per ounce and a further step up of 2.5 cents per share (10 cents in total compared to the existing policy) when the Company's realized gold price for a quarter exceeds $2,000.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Aurizon Mines Ltd. ("Aurizon") (TSX:ARZ)(NYSE Amex:AZK) is pleased to report the discovery of two new high grade mineralized gold zones at the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec.
"These are extremely encouraging results for us," said George Paspalas, President and CEO of Aurizon. "The original premise for entering into the Marban joint venture was to test for both extensions of the current known gold mineralization in the top 300 metres, and to test for vertical extension at depth. These results confirm that premise."
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Aurizon Mines Ltd. ("Aurizon") (TSX:ARZ)(NYSE Amex:AZK) is pleased to report the discovery of two new high grade mineralized gold zones at the Marban Block property, located in t...