Production stage, location and dividend possibilities separate top mining and royalty stocks from the rest of the heap. In this exclusive interview with The Gold Report, Gold Stock Analyst (GSA) Newsletter Writer John Doody reveals a few of his top 10 stocks and what diversifying your gold portfolio really means.
HudBay Minerals Inc. has released its first quarter 2011 financial results. Net profit attributable to shareholders increased to $16.8 million or $0.11 per share in the first quarter of 2011, compared to $10.6 million, or $0.07 per share, during the first quarter of 2010. Earnings in the first quarter of 2011 included a charge of $5.8 million, or $0.04 per share, for transaction costs associated with the successful acquisition of Norsemont Mining Inc. in March 2011. Earnings grew during the quarter mainly due to higher metal prices and reduced exploration expense, partly offset by lower sales volumes, a stronger Canadian dollar and Norsemont transaction costs.
Entree Gold said a $5.3 million net loss in the first quarter of 2011 was due to increased exploration activities at its Yerington copper porphyry projects in Nevada. "We are advancing our Yerington projects to development through systematic drilling and upgrading of known deposits and by exploration of additional targets. We have been building our team and operations in Yerington and are strongly encouraged by the initial drilling results we have received. In addition, substantial exploration and development work is underway on our properties in Mongolia," Entree Gold president and CEO Greg Crowe said on Friday.
First Majestic has experienced a new record for quarterly earnings for the first quarter of 2011 due to a 30% increase in average realized silver prices over the prior quarter and a 95% increase from the same quarter of 2010. Silver production in the first quarter remained steady at the same levels as the fourth quarter of 2010, which is up 25% over the first quarter of 2010.
What is good for the U.S. economy is good for gold. John Kaiser, editor of Kaiser Research Online, has proposed a graphic model that relates the value of all above-ground gold stock to global Gross Domestic Product (GDP), thereby explaining why higher real gold prices—even with a recovering American economy—will be the new reality. In this exclusive interview with The Gold Report, he shares his projections about where both gold prices and the U.S. economy could be going in the future.
The Directors of Aurelia Resources Limited (ASX:AJU) are pleased to confirm the opening of the company’s Offer Period for an Initial Public Offering (IPO) to raise $3 million, and to undertake a listing on the Australian Securities Exchange (ASX). Listing on the ASX is expected before the end of June 2011. Fifteen million shares are being offered at 20 cents per share and the company may accept subscriptions for a further 5 million shares to raise an additional $1 million. Also, a loyalty option, priced at 1 cent will be offered to shareholders after three months on a 1 for 2 basis. The exercise price is 20 cents with an expiry date of 30 April 2014. Image by Aurelia Resources Limited
Richmont Mines Inc. (TSX:RIC)(NYSE Amex:RIC) is pleased to announce financial and operational results for its first quarter ended March 31, 2011. Financial results are based on International Financial Reporting Standards ("IFRS") and dollars are reported in Canadian currency, unless otherwise noted.
Silvercorp Metals reported in Q4 that net earnings were up 29% to $12.6 million, or $0.07 per share, compared to net earnings of $9.8 million, or $0.06 per share, in the same quarter last year. It also said that quarterly cash flows from operations up 44% to $34.3 million, or $0.20 per share, from $23.8 million in the same quarter last year. Production was 1.05 million ounces of silver in the quarter, resulting in a record annual production of 5.3 million ounces of silver and achieved the fifth consecutive year of production growth.
IAMGOLD Corporation reported its unaudited consolidated financial and operating results for the first quarter ended March 31, 2011. Net earnings were $162.3 million ($0.41 per share), an increase of $102.1 million compared to the first quarter of 2010, and operating cash flow was $205.8 million ($0.55 per share1), representing an increase of 177% from the first quarter of 2010. "Our strong first quarter results reflect our focused strategy to maximize the value of mines that we own and operate," said Steve Letwin, IAMGOLD's President and CEO. "Attributable gold production was up 41% year-over-year driven chiefly by the inclusion of Essakane along with higher recoveries at Rosebel. We continue to benefit from higher gold prices and are implementing various initiatives to reduce our cash costs."
Obviously, there has been one story front and center in the world of REEs this week, that of Goldman Sachs' analysis of the REE markets, and the financial medias rote recitation of said self-described analysis as fact. Judging by my inbox over the weekend, it's safe to say that Malcolm Southwood and his band of merry MBAs have rankled the geologists that be, to no discernible end. Reactions seem to run the gamut from disbelief to contention to naked outrage.