Gold

Returning to the gold standard would be impractical and could even harm the financial system says a new report from a a group of experts published by the London-based policy institute Chatham House.

White Tiger Gold shed another 6% on Monday on almost double usual trading volumes, despite releasing high grade drilling results for its Nasedkino project that it says are enough to go ahead with a final feasibility study. The counter is now down 30% year to date and a shadow of its former self in January last year. At the time it was trading at a whopping $4.80.

After the market close on Monday Richmont Mines announced the resignation of Martin Rivard, its president and CEO. Under Rivard's guidance the company's stock has been on a tear, jumping more than 117% in just the last year.

The mining industry will be following closely the outcomes of this week’s International Space Station members’ meeting in Quebec city, Canada, as the heads of the world's five biggest space agencies will be discussing, among others, the possibility of exploring for minerals on the moon.

Associated Press reports that two military planes laden with 17 tons of silver and gold coins recovered from a sunken Spanish galleon have touched down in Madrid.

Banro's Twangiza oxide mine poured its first gold Q4 2011and it owns four additional licences along the same rich gold belt in the east of the country. After bumping up its debt offering to $175 million on Friday the company says it can now start building a second oxide mine.

Toronto-based firm's Definitive Feasibility Study for its 100% owned Aurora Gold Project in Guyana, the nation's only large-scale licensed gold mine development project, makes investors see red.

Shares in Newmont Mining was down 2.7% on Friday after the company announced a $1.6 billion charge after mothballing its Hope Bay project in northern Canada.

Canadian miner Mandalay Resources (TSX: MND, MND.WT) announced today that scheduled shipment of concentrate for February from the Cerro Bayo silver-gold mine in Chile has been delayed due to increasing public protests in the south of that country.