The last time the weather event was present, it wrought havoc on the mining industry in Australia, with thermal and coking coal mines in Queensland hit by flooding from cyclones and heavy rain.
StockMarketWire.com reports shares in Vane Minerals jumped by over 17% after it revealed higher grade gold/silver production as a result of the joint venture formed with the Ruiz Brothers in June last year. The results are the first that report the recovery progress from switching feedstock from solely Vane's wholly-owned Diablito mine to combining areas owned and mined by Ruiz.
Headed by the ex-head of exploration at Freeport-McMoRan, Steven Van Nort, Vane also has gold and copper exploration projects in Mexico and Paraguay and uranium assets in Utah and Arizona.
Southern Silver Exploration reported today that it has increased its previously announced private placement (see news release NR-07-11) and now plans to issue up to 23,530,000 units in a non-brokered private placement at a price of $0.17 per unit to raise $4,000,100.
Each unit will now consist of one common share and one whole share purchase warrant. Each warrant will be exercisable to purchase one additional common share for a period of two years at an exercise price of $0.22 per share.
The total gold reserves of central banks worldwide fell by 9.6 per cent between 2000 and 2008 but has subsequently increased by 2.2 per cent from 29,870 tonnes in 2008 to 30,535 tonnes at the end of 2010.
This is mainly a result of rising demand for gold from central banks with surplus liquidity in some emerging markets, such as China, India, Russia and oil producing countries in the Middle East region.
Mexican mining production rose 22% in April from the year-ago month, led by a big jump in output of copper, the National Statistics Institute, or Inegi, said Thursday.
Copper production rose 77% to 32,324 metric tons.
Silver and gold prices fell further at the bullion market on moderate selling by stockists and investors amidst continuing bearishness in the global markets.
Silver ready (.999 fineness) declined by Rs 125 per kg to end at Rs 51,585 from Friday's level of Rs 51,710.
The gold and silver markets are still in high risk territory vulnerable both ways. At the moment the direction of gold and silver, in the euro and the dollar is down.
The Osama bin Laden household in Pakistan's Abbottabad town used to buy and sell gold jewellery, perhaps as a way to raise money, it has emerged.
Nearly two months after bin Laden was killed by US Navy SEALs who raided his Abbottabad hideout in the early morning hours of May 2.
Photo is from the U.S. Government.
China's first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province.
The Hunan South Rare Precious Metals Exchange is based in China's silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.
Melkior Resources Inc. announced assay results from six new holes from the 2011 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and recent Thunder Creek gold discovery. All holes intersected multiple intervals of anomalous gold mineralization; the highlight was hole CAR-71-2011, which intersected one of the widest, high-grade gold intercepts to date from the property and returned 13.25 metres at 5.10 g/t gold from the Shenkman Zone at a vertical depth of 200 metres.