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Latest Stories

Vista Gold shares jump 19%, company declines comment

Vista Gold (AMEX:VGZ) had no comment on why its share price jumped on Monday. Shares were up from $3.70 on Friday to $4.41 by the end of Monday, a 19% gain. "Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) announced today that as a result of unusual market activity in the Company's common shares on September 12, 2011, the NYSE Amex contacted the Company in accordance with the NYSE Amex's usual practice and requested that the Company issue a public statement regarding the unusual market activity. The Company states that its policy is not to comment on unusual market activity," said the company in a news release.

Gold Resource Corporation extends Arista deposit high-grade mineralization outside previously drilled mineralized envelope intersecting 7.6 meters of 9.92 g/t gold and 129 g/t silver

COLORADO SPRINGS, CO--(Marketwire - Sep 13, 2011) - Gold Resource Corporation (NYSE Amex: GORO) extends high-grade Arista deposit mineralization outside of the deposit's previously drilled mineralized envelope including 7.6 meters of 9.92 grams per tonne (0.32 oz/tonne) gold and 129 grams per tonne (4.15 oz/tonne) silver. In addition, confirmation drill returns include 5 meters of 20.28 grams per tonne (.65 oz/tonne) gold and 559 grams per tonne (17 oz/tonne) silver. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico. The Company has returned over $24.6 million to shareholders in monthly dividends since declaring commercial production July 1, 2010.

Analysts see gold falling below $1,700 in September

Bloomberg reports gold may decline to below $1,700 an ounce in September before climbing to an all-time high of $2,000 in October as the metal extends its longest rally in at least nine decades, according to technical analysts. The Wall Street Journal reports market participants expect volatile trading in gold to continue this week, as traders look to what may be contentious debate on US President Barack Obama's proposed jobs and infrastructure program and as traders take positions ahead of the meeting of the Federal Reserve's policy-making committee next week.

Gold tumbles as Greece says will run out of cash by October

Gold for December delivery – the most actively traded contract – fell 2.4%  or $45, to $1,815 an ounce on the Comex division of the New York Mercantile Exchange by lunchtime on Monday failing to capitalize on its safe-haven status as investors were forced to raise cash to cover losses on equity markets. The benchmark Dow Jones Industrial Average suffered another day of heavy selling, declining more than 120 points in volatile trade while European and Asian markets were battered after the deputy finance minister of Greece said the debt-laden country has cash to operate only until next month. Germany was readying measure to protect its banks against a Greek default while France's financial institutions were downgraded because of its exposure.

High-grade gold drill results from Red Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2011) - Confederation Minerals Ltd. ("Confederation") (TSX VENTURE:CFM) is pleased to report additional drill results from the on-going drilling program at the Newman Todd property in the Red Lake Gold District, Ontario. These results are from five holes, completed in wide spaced drilling along the Newman Todd Structure ("NTS"), another 11 holes have been completed and assays are pending. The highlight hole from the latest results returned 7.06 oz/ton (242.0 g/t) gold over 0.50 metre.

Auryx Gold Corp discovers massive iron oxides at the Otjikoto Gold project, Namibia

TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Auryx Gold Corp. ("Auryx" or the "Company") (TSX:AYX)(NSX:AYX) is pleased to announce the discovery of two distinct zones of massive iron-oxides ("Fe-oxides") overlying and peripheral to the Otjikoto gold deposit. Both zones occur at and near surface and have been named the Main Magnetite Zone ("MMZ") and the Magnetite 1 Zone ("M1Z"). Geophysical work suggests the Fe-oxide mineralization has a potential strike length of 6km. Please follow the link to view a plan view of the magnetic anomaly:http://auryxgold.com/projects/otjikoto_drill_program/mag_anomalies/

Newmont CEO says gold going to $2,000 and Washington needs to do some work before CEOs start hiring again

Bloomberg interviewed Richard O'Brien, CEO of Newmont, on Friday who said gold could reach $2,000 in the next six months. O'Brien also said more certainty is needed around taxes and regulations before companies start hiring again. O'Brien said that the financial uncertainty in Europe and U.S.A. will probably drive gold to $2,000. O'Brien was asked about President Obama's $447 billion job plan announced on Thursday and what CEOs need to see before they start hiring again.

Lumina Copper up 23 cents after announcing copper intersects at Taca Taca

Lumina Copper (CVE:LCC) announced on Thursday intersects of 646 meters grading of .93% copper equivalent at the Taca Taca copper-gold-molybedenum project in Argentina. Lumina also reported drilling results of 2.69% copper equivalent in 50 meters of grading. Lumina was up 23 cents to 7.08 on Thursday. At the end of the week, was back down $6.71.