Platinum price pressured as market moves into oversupply

NovaGold Resources released a prefeasibility study today on its 100%-owned Ambler project in northwest Alaska. The Vancouver-based company is exploring the sprawling 36,670-hectare property, which is host to a number of high-grade copper, zinc, lead, gold and silver deposits. According to the PEA, commissioned by SRK Consulting, the property contains 16.8 million tonnes of indicated resources, with 4.1% copper and 6.0% zinc. The inferred category contains 12.1 million tonnes of 3.5% copper and 4.9% zinc.

Hopeful prospectors and artisanal miners are searching remote areas of Sudan’s desert for a chance at riches but, the government is beginning […]

The world’s number one silver miner reported record gold production for the first quarter even as silver production numbers declined.

Australian copper and gold miner Oz Minerals said on Thursday it is on track to achieve its forecast gold output of more than 185,000 ounces despite a 23 percent drop in first-quarter output. "While total gold production was lower this quarter, higher grades expected in the second and third quarters are expected to see production achieve forecast levels for the year of 185,000+ oz of gold," the company said in its quarterly production report.

Harmony Gold (HARJ.J: Quote) said on Wednesday that its gold production for the March 2011 quarter would likely be two percent lower than the previous quarter mainly due the impact of the Christmas break. It did not give figures in a brief guidance to investors but it said cash operating costs remained steady and capital expenditure was contained during the quarter.

Cutting some hefty gold intercepts, Revolution Resources is following in the footsteps of Romarco Minerals and its multi-million ounce Haile gold mine in the Carolina Slate Belt. Image by Revolution Resources

Osisko Mining (TSX: OSK) poured its first gold at the Canadian Malartic open-pit gold mine in Quebec on Wednesday, April 13, 2011. The act ushered in not only one of Canada's newest miners, but one of its largest, with production at Malartic planned to hit 600,000 ounces gold a year, over a 12-year mine life.

Reuters reports: Canadian gold miner Northgate Minerals Corp expects production at its Young-Davidson mine in Northern Ontario to start in late first quarter of 2012.

GFMS says that investment demand will continue to drive gold higher, and analysts at the firm would not be surprised to see gold break through $1,600 before the end of the year. The findings were published in GFMS's Gold Survey 2011 that were released today. "Investors continue to be concerned about the outlook for inflation, with governments in general showing little appetite to tighten monetary policy significantly," says Philip Klapwijk, chairman at GFMS, in a news release.