Gold Top Stories

Greece grants permits for Eldorado after miners clash with police

The miners from the Eldorado Gold mine in the Halkidiki…

Australia’s Newcrest restarts output at part of quake-damaged gold mine

Cadia - the company's biggest and lowest-cost source of gold…

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Vaaldiam Investment Flemish Gold Corp. raises $10 million for gold exploration in Africa

Vaaldiam Mining Inc. (TSX:VAA) is pleased to report that Flemish Gold Corp. has closed a private placement of $10 million through BMO Capital Markets on May 3, 2011. Vaaldiam owns 10,625,000 common shares of Flemish. The private placement consisted of 10 million units priced at C$1.00. Each unit included one common share and one warrant to buy one share at $1.20 for 24 months. Flemish expects to go public in 2011 and now has 57.3 million common shares issued. Image by Valldiam Resources Ltd.

Kinross increases 2011 guidance to 2.67m – 2.7m gold equivalent ounces

A robust gold price, new West African production, and strong performance from mining operations contributed to a 42% increase in revenue and an 81% increase in adjusted net earnings for Kinross Gold during the first quarter. Meanwhile, Kinross has increased 2011 full year-production guidance to 2.67 million - 2.7 million gold equivalent ounces as a result of increasing the company's Kupol interest to 100%.

Goldcorp reports 150% jump in adjusted net earnings for Q1

Goldcorp reported Wednesday that adjusted net earnings for the first quarter of this year increased 150% to US$397 million or 50-cents per share, compared to $159 million or 22-cents per share in the first quarter of 2010. Net earnings for the first quarter of this year were reported to be $651 million or 82-cents per share, compared to $232 million or 32-cents per share reported in the first-quarter 2010.

Harmony CEO reckons gold to hit $1800 next year

South Africa's Harmony Gold (HARJ.J),the world's fifth-largest gold miner, sees the price of gold rising to $1,800 an ounce in 2012, its chief executive said on Thursday. The spot price of gold has been at record peaks, surpassing the $1,500 an ounce mark, and Chief Executive Graham Briggs said it could even go higher.

Minefinders provides reserve and resource update for its Dolores Mine

Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) today announced updated gold and silver mineral reserves and resources for the Dolores Mine. Fiscal 2010 marked the first meaningful exploration drilling program at Dolores since the commencement of the development of the mine in 2006 and this is the first update of reserves and resources for Dolores since 2008.

Mexico makes third largest Central Bank gold purchase of past ten years

Mexico massively ramped up its gold reserves in the first quarter of this year, buying over $4 billion of bullion as emerging economies move away from the ailing U.S. dollar, which has dipped to 2-1/2-year lows. The third biggest one-off purchase of gold by any country over the past decade took Mexico's reserves to 100.15 tonnes -- or 3.22 million ounces -- by the end of March from just 6.84 tonnes at the end of January, according to the International Monetary Fund and Mexico's central bank.

NioGold discovers two important mineralized structures in Malartic Camp

NioGold Mining Corporation (TSX-V: NOX) is pleased to report on the on-going exploration drilling program within the southern portion of company's wholly-owned Malartic Block property, located in the Malartic gold camp, Abitibi region of Quebec. The first three holes of the program intersected two important altered, veined and sulphide mineralised shear zones cutting sedimentary rocks.