Gold

Manson Creek Resources announced Tuesday it has entered into an option with Panarc Resources to acquire a 100% interest in the Up Town Gold project located adjacent to the historic Giant mine in the Northwest Territories. Shares in the tiny TSX-V listed explorer shot up 15% on the news with almost ten times the usual number of shares changing hands.

Bloomberg reports that Russia's Polyus Gold International, owned by Mikhail Prokhorov, a Vladimir Putin rival in upcoming presidential elections, could raise us much as $1 billion as part of its planned listing and share sale in London.

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006 and the country now ranks a lowly 67th out of 79 countries in the study.

Comex gold and silver futures prices made strong gains in morning trade Monday, with the February gold contract powering to a six week high of $1,679.50 an ounce, up just shy of 1% by midday. Gold is now up over 5% for the year, but still well of the record high above $1,900 hit in September.

Pan American Silver is buying Minefinders for $1.5 billion in a cash and stock deal. Markets reacted negatively to the news with Pan American today losing 8.67% of its value and falling to $22.85 a share in morning trading.

SilverCrest Mines (CVE:SVL), a gold and silver miner operating in Mexico, announced today that the inferred resources at its La Joya property increased by 424% from 24.0 million to 126.0 million silver equivalent ounces.

Bloomberg reports that Ivanplats Ltd., an Africa-focused mining company controlled by billionaire CEO Robert Friedland, may seek up to $1 billion in an IPO.

Stock in both US Gold Corp and Minera Andes charged ahead more than 7% in morning trade on Friday after announcing that their respective shareholders voted in favour of a proposed business combination. The new entity, with projects in the US, Mexico and Argentina will be named McEwen Mining and headed by industry veteran Rob McEwen.

Northern Gold Mining Inc. (TSX VENTURE:NGM) and the Wahgoshig First Nation jointly announced on Friday that a strong cooperation and working relationship has developed since Northern Gold first began working on the Garrison Gold property two years ago.