Gold

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.

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) announced today that the company's Board of Directors has appointed four new directors.

Kinross Gold (TSX:K) took a drubbing in the markets today, along with other major gold producers, as the sector endured an aggressive selloff in the midst of more turmoil in Europe.

Worries about Europe's sovereign-debt crisis sparked a wave of selling in the gold market, pushing prices briefly below the $1,600 mark and to their lowest settlement price in four months.

Franco-Nevada Corp. had a good quarter, more than doubling profits and hiking revenues by 44%.

Bad news slammed the markets today as worries about Europe caught up to traders.

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.

Gold imports to China from Hong Kong were up 59% in March, according to the Hong Kong Census and Statistics Department.

South African gold producers are expected to report lower quarterly earnings with production knocked across the board as output-disrupting safety stoppages continue to sting, a Reuters poll of 7 analysts showed.