Tahoe Resources soars on Q2 earnings

Anglo American Platinum (Amplats), the world’s largest platinum producer, launched today the first of five fuel cell-powered locomotive prototypes to be tested at its mining operations in South Africa.

At a time when hedge funds are reducing bullish silver bets by the most in two years, analysts predict a rally as manufacturing expands from China to the U.S., boosting demand for the precious metal most used in industry.

While 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion in the global mining sector, 2012 is not looking so good, at least not for Canada. The value of mining M&A tumbled 50% in the first quarter compared to the prior three months, with only one deal over $1 billion, said KPMG in a report.

Hecla's Q1 net income was off 71% to $12.4 million due to a production suspension at Lucky Friday Mine, increased exploration expenses and other one-time charges.

Roman Copper Corp. is suing the Romanian government after the country backed out of a deal to sell its largest state-owned copper mine, Cupru Min Abrud.

Pretium Resources, a gold junior developing the Brucejack and Snowfield properties in British Columbia, today raised $70 million through a share offering.

Draft legislation, a copy of which was seen by the Financial Times on Wednesday, gave "the clearest sign yet that Mongolia is uncomfortable with the large foreign investments that have so far been a mainstay of economic growth."

Releasing the results of a new engineering study failed to move the markets in a positive direction today for Orko Silver (TSX-V:OK), although the resource-heavy Toronto exchanges were also in the red.

Even after today's heavy losses it is still showing gains for the year of 86%.