Beiträge von Ulfur

Mindoro: Nächster erfolgreicher Zwischenschritt

MOU Signed on Mindoro Nickel Project

LONDON, United Kingdom, DATE July 4th 2005 Crew Gold Corporation (“Crew”) (TSE & OSE: CRU; Frankfurt: KNC; OTC-BB- other: CRUGF.PK.

Crew Gold Corporation is pleased to announce that it’s 100% owned subsidiary Crew Minerals AS (“Crew”) and affiliated Philippine companies on July 1st, 2005 signed a Memorandum of Understanding with Jilin JIEN Nickel Industry Corporation (“Jilin”) relating to the cooperative development of Crew’s Mindoro Nickel Project (“MNP”).
[Blockierte Grafik: http://www.smiliemania.de/smilie132/00000451.gif]

The Memorandum of Understanding represents an agreement between Crew and Jilin on a joint contribution to further studies and test work. The “MOU” describes the framework for reaching a Definitive Agreement with the objective of concluding this at the earliest possible date.

Background

The Mindoro Nickel Project is a large nickel laterite resource located on Mindoro Island, Philippines. “MNP” is expected to be developed using the High Pressure Acid Leach process with expected production capacity of 40kt to 80kt of nickel per annum once fully developed. “MNP” has a completed pre-feasibility study, with the next stage of development being further resource definition and metallurgical testing followed by a full Definitive Feasibility Study (DFS).

Crew Minerals AS is a 100% owned subsidiary of Crew Gold Corporation and holds all the groups non-gold interests, which include “MNP”, the Negros Sulphur Deposit located in the Philippines, the Hurdal Molybdenum Deposit located in Norway, and a right to a 17-year tonnage based fee from the Seqi Olivine Deposit located in Greenland.

Crew Gold Corporation is a gold producer and developer with gold assets in Greenland, The Philippines, South Africa and Ghana. Crew Gold Corp is listed on the Toronto (TSE) and Oslo (OSE) stock exchanges under the ticker (CRU).

Jilin JIEN Nickel Industry Corporation is the Peoples’ Republic of China’s largest nickel sulphate producer and second largest nickel producer, located in the Jilin Province of China. Jilin produces nickel, copper and cobalt, with current production capacity of 29 ktpa of nickel and nickel chemicals plus copper and cobalt by-products. The group operates two nickel mines, one smelting facility, a leaching/autoclave facility and three refineries. Jilin is planning to significantly expand its operations within the Peoples Republic of China as well as internationally. Jilin is listed on the Shanghai Stock Exchange (Ticker: 600432).

Jan A. Vestrum

President & CEO

Zitat

Eine Frau als manager, ob das gut geht ?

@Eldo,
scheinst Glück zu haben. Candente hat in den letzten Tagen einen Satz nach oben gemacht.
Aus Stockhouse zur Candente Managerin:
User 1: I met Joey myself and not only liked her but was impressed with her knowledge and ambitions... I am glad you and others feel the same way, as I have been fooled by women before.
User 2: No "news" but nice move. Obviously someone knows something. I`ve met joey a few times and my close friends who know her much better speak highly of her.

Zu Inca Pacific

Die Kursentwicklung von Inca Pacific in diesem Jahr ist enttäuschend, etwa –30%. Die Marktwert bei den ausstehenden 11 Mill. Aktien beträgt nur rd. 5,5 Mio CAD oder 4,5 Mio USD. Aber obgleich Inca in diesem Jahr in Quadra einen Partner gefunden hat, der das Projekt auf eigene Kosten weiterentwickelt und bereit ist, in diesem Jahr 5 Millionen USD für Magistral aufzuwenden, kennt die Aktie nur den Weg nach unten.

Negativ ist die ausstehende Scoping Studie, die bereits im Februar fertig sein sollte. Hier wurde mir mitgeteilt, daß Quadra und Inca nicht „vollständig zufrieden“ waren mit der AMEC Studie.

Im Herbst wird sich zeigen, ob Quadra aus Magistral ein Mine machen will oder aus dem Projekt aussteigt.

Update von eresearch: Speculative buy, Kursziel herabgesetzt auf 1 CAD

Diesjährige Entwicklung von Inca Pacific(IPR), Corriente(CTQ) und Candente(DNT):

Western Areas faces a cash crunch and could sell South Deep stake
John Fraser

Resources Editor

GOLD producer Western Areas has informed shareholders that its current liabilities exceed assets by R394m, and there is doubt that the company can proceed as a going concern.

Analysts say that unless the company can reverse its cash bleed it may be forced to sell a stake in its main asset — the South Deep mine.

The warning about Western Areas’ cash problems is contained in the company’s annual report, published yesterday.

However, the company’s directors also said a turnaround was under way, and that Western Areas remained a going concern.

Western Areas’ main asset is its 50:50 joint venture in South Deep mine with Placer Dome of Canada. The R4bn Twin Shaft complex was commissioned in November, and is expected to boost output from the mine, and also to help with the turnaround of Western Areas.

The company, which is headed by mining magnate Brett Kebble, said in the report that its current liabilities consisted partly of a derivative funding structure related to the hedging of its gold production, as well as a bridging loan from JCI, which is another Kebble company.

“The derivative structure was put in place in 2001 to fund the then estimated residual capital expenditure relating to the completion of the South Deep project, based on the mine plan at the time,” said Western Areas, noting that it was restructuring this hedging setup.

However, the company said there had been an “excessive cash outflow, primarily as a result of the delays and overruns that occurred at South Deep”.

It also said cash outflows “will place a burden on the cash resources of the company for the next few years”, and as a result the restructuring of the derivative structure and other measures are under way.

These include boosting funding through an existing bridging loan with JCI by an additional R100m to R300m, the raising of about R730m through a rights offer, and an additional loan facility from JCI “to repay the funds borrowed in the event that the rights offer is not concluded timeously”.

Western Areas directors said that should these initiatives not be successful in meeting forecast cash outflows, “there is significant doubt that the company will be able to meet its obligations in the normal course of business, and therefore a material uncertainty exists that the company will continue as a going concern without undertaking further borrowings and/or the partial disposal of a portion of its assets”.

An analyst said: “It is not a very comforting picture, with Western Areas needing cash, while its parent JCI also needs more cash.”

In Norwegen geht die Post ab.

Kurs bereits über 11 Kronen, das sind über 80% in diesem Jahr [Blockierte Grafik: http://www.cosgan.de/images/midi/froehlich/b020.gif]

Nach einer guten Stunde bereits über 4 Millionen Aktien umgesetzt.

Aus dem Update von Pareto:
>Wir erwarten den Abschluß eines Memorandums of Understanding innerhalb der nächsten drei Monate. Wenn das Mindoro Nickel Projekt voll in Produktion kommt, könnte dies potentiell einen Wert pro Aktie von 20 NOK haben. Wir glauben, die Wahrscheinlichkeit, daß Feld in Produktion zu bringen, ist nun hoch, zumindest 30%.<

Based on today’s announcement, we expect a signed MOU shortly and a Definitive Agreement within the next 3 months. The next step is to conduct a Bankable Feasibility Study, which would take 12-18 months. Thereafter the really big money would have to be put on the table, with construction period of around 2 years. Best case is therefore around 4 years to production start.
The MOU is the first real step towards getting MNP into production and it is a major value driver to Crew, potentially worth in excess of NOK 20 per share when fully up and running.

We believe the probability now is high to get the field into production, at least 30%.

We believe the current valuation in the share price of Crew for Mindoro is around NOK 1 per share.

Crew has again delivered on its promises, this time the Milestone of finding an industrial partner for Mindoro by mid-summer has been realized

Today’s news should shortly drive the share price between NOK 1 and 2 per share, longer term much more.

Nun hat Vestrum doch noch im Juni geliefert.

Crew hat eine schriftliche Bekundung des Interesses von einem chinesischen/kanadischen Konsortium für Mindoro erhalten. Ziel ist die Verhandlung einer definitiven Abzichtserklärung (Memorandum of Understanding). Ausgewählte Testarbeiten werden sofort aufgenommen. :))

Crew Receives Indication of Interest on Mindoro

LONDON, United Kingdom, DATE June 28th 2005 Crew Gold
Corporation (`Crew`) (TSE & OSE: CRU; Frankfurt: KNC; OTC-
BB- other: CRUGF.PK.

As a result of several months` discussions, Crew is pleased
to announce that a written Indication of Interest (IoI) has
been received from a Chinese/Canadian consortium to
negotiate a Binding Contractual Agreement (BCA) at the
earliest possible date regarding the development of the
Mindoro Nickel Project.

A dialogue has been established with the individual
participants of the consortium with the goal of
establishing in the immediate near term a framework for the
negotiations for a Definitive Agreement (DA) via a
Memorandum of Understanding (MOU).

Crew is also pleased to announce that based on discussions
between the parties, selected test work will commence
immediately.

Jan A. Vestrum
President & CEO

Spekuliert wird, daß es sich um Falconbridge und China MinMetals handelt.

Das Ganze noch ziemlich vage, die Verhandlung sind zeitraubender als geplant. Aber es geht positiv mit Mindoro weiter und die norwegische Börse freut´s: Kurs ist zum erstenmal über 10 Kronen gestiegen, damit in diesem Jahr >+70%. :))

Navidad Dispute Date Looms for IMA & Aquiline

By Tim Wood
27 Jun 2005 at 06:46 PM EDT

NEW YORK (ResourceInvestor.com) -- In little more than three months two exploration companies will face off in court in Vancouver to fight over ownership of nearly $4 billion worth of silver and lead awaiting extraction in Argentina.

Industry financiers are concerned about the inability of Toronto venture listings and Argentina operators IMA Exploration [IMR] and Aquiline Resources [AQI] to reach a settlement in their dispute over the Navidad project. There is considerable risk to the entire sector if it is left to the Supreme Court of British Columbia to wash the dirty laundry, of which there is a tonne.

Investor disgust

The industry simply cannot afford more investor disgust with further squabbling affecting trapdoor junior mining stocks operating from Vancouver; another Bay Street versus Howe Street spectacle.

The stakes are high because Navidad is arguably the best virgin discovery so far this cycle. Perhaps only Virginia Gold’s [TSX:VIA] Eleonor project is emerging as a challenger on raw value, but most certainly it has been more rewarding to shareholders. As a consequence the embarrassment factor is proportionately large and could reach to the highest rungs of the industry if the dispute is left to go all the way.

A positive out-of-court arrangement is also important because of Argentina’s hesitant hospitality to exploration and mining.

Meridian Gold’s [MDG] Esquel project in Chubut province was killed by regulatory fiat and environmental opposition. Now the province of Rio Negro, where Aquiline is developing its Calcatreu project, is contemplating an Esquel-like ban on the use of cyanide to recover mined metal.

That’s the last thing juniors operating in Argentina need especially after Federal officials from the country went to such lengths at this year’s Toronto PDAC to reassure the market that Esquel was a unique non-replicable situation.

Who’s funding whom?

Here’s the bottom line: IMA is creating terrific value which is not being translated for stockholders. It seems more pronounced lately and the approaching court appointment is hardly going to help. On the other hand Aquiline stock has appreciated three fifths since this time a year earlier. The dilemma for IMA investors is weighing up the risk that their funds are working hardest for Aquiline’s stockholders.

IMA spokesman, Sean Hurd, said it was a matter of patience. “How much are you prepared to give up for instant gratification?,” he said in reference to pressure to reach a settlement with Aquiline. He confirmed to Resource Investor that IMA is confident it will prevail in court and sees little point pursuing a settlement with so little time left before judgement. “The worst is behind us.”

Navidad, wholly owned by IMA, boasts code compliant resources of 339 million ounces of silver and 2.9 billion pounds of lead. At current metal prices that’s an in situ value of $3.7bn.

Using the Baring Rule of Thumb (BRoT) for early stage mineral projects, that should translate to a market capitalisation of $372m for IMA, or C$9.16 per fully diluted share. Instead the company trades at just $130m, or C$3.20ps.

That’s a gigantic discount. IMA investors can see through to barely a third of Navidad’s value. It is made more untenable by the fact that IMA’s stock price is effectively reverse geared to the project’s progress.

Silver resources have increased two fifths in the past year; lead resources by one-seventh. But the real story is the in situ value of the project which has risen dramatically thanks to much higher prices for silver and lead. Navidad’s silver value is up more than four fifths in a year and lead value is up more than two fifths with the overall project two thirds more valuable than it was at the same point in 2004. Yet the stock price has idled at much the same level though it had a good run late last year.

Background to the dispute

For those unfamiliar with the IMA-Aquiline dispute, here’s a refresher.

IMA contends that one of its geologists happened upon Navidad after walking up a fence-line and noticing ore-bearing rock propping up a fence post on ranch land. The company has also said it can show years of regional exploration data that includes Navidad.

According to Aquiline perspicacity had little to do with finding Navidad. Both companies were among several that signed a confidentiality agreement to review Newmont’s [NEM] nearby Calcatreu property which had been put up for sale. Aquiline has charged that IMA improperly used Bulk Leach Extractable Gold (BLEG) data revealed to it – apparently unusually – in the course of its Calcatreu due diligence to swerve off a purchase of the project and simply went on to stake Navidad.

In its court filings, IMA has admitted using the Newmont data, but says it was not covered by the confidentiality agreement and was, anyway, far from the agreed 2 kilometre “zone of influence”. Newmont was aware of IMA’s regional activity and apparently saw little value in the greater Calcatreu district.

Marc Henderson, Aquiline chief executive, has maintained that he would be satisfied simply to see assay results for samples taken in the area which could prove IMA’s claimed discovery process. He has said that IMA would be hard pressed to show that its data rather than Newmont’s led to finding Navidad.

As it became apparent that Navidad was a spectacular hit, Aquiline filed suit against IMA and is seeking a constructive trust that echoes the 1980s battle between Lac Minerals and International Corona Resources over the Williams Property in Hemlo, Northern Ontario.

Gift from Newmont

What has set tongues wagging more vigorously lately are comments by IMA chairman Joe Grosso. In remarks to Globe & Mail columnist Eric Reguly two weeks ago, Grosso said the data was a “gift” from Newmont. Grosso repeated the gift line in comments at last week’s IMA Annual General Meeting in Vancouver.

Newmont spokesman Randy Engel says the company cannot comment on pending litigation.

IMA’s Sean Hurd says “gift” is a terminology and translation issue for the native Italian rather than a statement of fact.

Still, critics from the Aquiline camp think that Grosso has inadvertently lost the case because Newmont can hardly be expected to testify in court that it favoured one particular company in the Calcatreu due diligence process. That would be an invitation to a lawsuit from disgruntled shareholders already steamed about losing Navidad. Conversely, IMA cannot now settle given the risk of being sued for changing its tune and giving away market value.

IMA supporters say investors should simply take note of which brokerage has been ringing up most of the purchases in Aquiline stock recently to understand how the camps are dividing over Navidad. Indeed, IMA does still seem to be the odds on favourite to prevail, but it’s labouring under a sadistic discount in the process.

valueman,

danke für den Hinweis

Technology transforms OceanaGold

By: Dorothy Kosich
Posted: '24-JUN-05 03:00' GMT © Mineweb 1997-2004

SAN FRANCISCO--(Mineweb.com) OceanaGold President and CEO Steve Orr unabashedly credits technology for the transformation of the company's success into the operator of New Zealand's largest gold mine.
Weiter...

[Blockierte Grafik: http://www.minesite.com/assets/logptop-n.jpg]

Minews Story
Date: June 24, 2005

Litigation Cannot Detract From The Increasing Silver Resources Being Reported By IMA Exploration At Its Navidad Project.

It is timely to be writing about IMA Exploration today as the shareholders will be gathering to hear the latest news from chief executive Joe Grosso. A ghost will be hanging over the assembly, however, and may temper the feast of optimism to an extent. This ghost is the ghastly word litigation and the two words, lawyers and litigation, seem to pepper any conversation with North American businessmen. Even when they come to London to make presentations about their companies they have to make disclaimers about their companies which are intended to be all encompassing. Cut to the quick, however, and the message is: ‘if you (the audience) have any problem at a later date with anything you think I told you about this company, I will deny it.’ How pathetic is that, but it is what their compliance officers insist they do in order to cover themselves.

The Canadian junior mining sector has a history of litigation and it is not for Minews to make any comment on the rights and wrongs of the case being brought by Aquiline Resources against IMA Exploration. In essence Aquiline filed suit in March 2004 in British Columbia contending that IMA misused confidential information to stake the ground that turned out to contain the Navidad silver discovery. IMA denies it, so all this time lawyers have been spending the money of both companies instead of allowing them to get on with spending that money on exploration which is what they should be doing. Maybe the shareholders in Aquiline will bring a case against their directors if they lose the case as that is how life , to European eyes, seems to proceed in the litigious world of North American business.

What cannot be denied is that progress at Navidad by IMA Exploration has exceeded all expectations over the past year. When we last wrote about the company in January a new independent resource estimate had just been announced covering the three main zones on the project Galena Hill, Navidad Hill and Connector. It came in at 268 million ozs. silver and 1.75 million tonnes lead within 80.8 million tonnes that grade 103 g/t silver and 1.45% lead, at a 50 g/t silver-equivalent cut-off grade. The inferred resource contains 39.3 million oz. silver and 70,500 tonnes lead within 15.7 million tonnes at 78 g/t silver and 0.45% lead, for the same zones using the same cutoff grade.The company was sinking more holes into the Navidad Hill deposit in an effort to increase the resource, while bumping a good portion of the inferred resources up to the indicated category.

Now IMA has just announced results from 14 more drillholes including two which were located 525 metres to the northwest of the boundary of current resources at Calcite Hill and intercepted 30.0metres of 122 g/t silver and 25.0metres of 251 g/t silver. Thus an important extension has been discovered to the mineralization along the Navidad Trend. In addition, a hole drilled at Galena Hill, intercepted 194 metres of 188 g/t silver and 5.8% lead including 49.8 metres of 481 g/t silver and 14.2% lead These results confirm just how much potential there is to increase the silver resources at the Navidad project.

The indicated resources are now 300.7 million ounces of silver and 1.27 million tonnes of lead based on 92.8 million tonnes grading 101 g/t silver and 1.36% lead and the inferred resources amount to of 39.4 million ounces of silver from 15.2 million tonnes 78 g/t silver. The inferred resources are located within a 2.3 kilometre segment of the Navidad Trend so it should not take a lot more drilling to move them up to the indicated category. And this could still be only the start as significant portions of the three mineralised trends that have been identified to date on the Navidad project have received little or no drilling. The Navidad Trend, the Argenta Trend and the Esperanza Trend have a combined strike length of over 14 kms so we are now talking world class deposits.

Continued exploration drilling will systematically drill test these trends and updated resource calculations will be conducted on an ongoing basis as drill results warrant. In the meantime it is interesting to note that the two holes drilled to the northwest of Calcite Hill identified an important new style of silver mineralization. This consists of minor amounts of galena and possibly other sulphide/sulphosalt minerals, hosted within coarse-grained sedimentary rocks that occur interbedded within a finer grained sedimentary sequence. The coarse grained sediments have strong clay alteration and appear to be partially derived from the favourable volcanic horizon that hosts most of the Navidad Project mineralization, but are located laterally and/or above it.

At present the extent of this new style of mineralization is unknown, however the sedimentary rocks which host the mineralization are present over a large area. Six reconnaissance holes have been drilled and when all the results are received a plan can be made for further drilling. Meanwhile a diamond drill hole at Galena Hill, which was intended to provide material for metallurgical testwork, came up with higher grades of silver and lead which exceeded by some margin the values predicted by the Galena Hill block model prepared by Snowden earlier this year. The good news should therefore continue to roll, but Joe Grosso will not be a totally happy man until he gets the right result at the hearing which is due on October 11 in Nevada.
http://www.minesite.com/storyFull.php?storySeq=2833

Jim Jones von Mineweb scheint mir zu voreingenommen gegen Stilfontein und DRD, folgender Artikel von Business Day gibt die Anklage gegen die Stilfontein-Direktoren wegen Mißachtung von Gerichtsentscheidungen neutraler wider:

Posted to the web on: 24 June 2005
Hold Kebbles in contempt of court — state
Rob Rose

Chief Reporter

GOVERNMENT argued in the Johannesburg High Court yesterday that Brett and Roger Kebble should be held in contempt of court to show the business sector it must comply with water affairs department regulations.

The case comes as a potential environmental disaster looms in the Klerksdorp gold-mining complex, affecting gold mines valued at R11,8bn belonging to AngloGold Ashanti, Harmony, DRDGOLD and Stilfontein.

The four mining companies were ordered in April, in terms of a water affairs department regulation, to pump out excess water from the mines at a monthly cost of R1,6m each to avoid the flooding of the mines. The other companies complied, but Stilfontein defied the order and last week all its directors quit in protest.

Yesterday, the department, supported by AngloGold, began arguing that the former directors — Roger and Brett Kebble, Hennie Buitendag and Gordon Miller — should be held in contempt of court for defying the regulations.

Judge Ismail Hussain will finish hearing the case and make a ruling today, but yesterday he seemed unlikely to rule that the Kebbles should be held in contempt.

He referred to previous legal precedent that stated that a person could not be found in contempt of court when it involved the failure to pay money, but rather only when they failed to perform a specific act.

However, the department is likely to argue today that the regulations did oblige the companies to perform a specific action — pumping water from the mines — which happens to carry a monetary value.

Francois Joubert, SC, who is acting for the department, argued that “our client has no other way of proceeding” against companies that did not comply with its regulations, other than to take them to court.

He said if Stilfontein was allowed not to pay, it was possible AngloGold, DRDGOLD and Harmony would also refuse to pay for pumping water after the directive expired on June 30.

Joubert said the danger was that any other company facing a water affairs department directive could become equally dismissive, and flout an order.

But when asked by Hussain, the department conceded it was not a “principal concern” that the Kebbles go to jail for contempt, but the application was “just a lever to get something done”.

But Cassie Badenhorst, acting for the former Stilfontein directors, said that the department’s contempt application was ill-conceived and was dotted with red herrings.

Whatever happens today, it is unlikely that Stilfontein will be able to pay the R1,6m a month to pump excess water, as its most recent income statement for the year to June last year showed it made an operating profit of only R290000.

But the department said Stilfontein’s most recent annual report showed total cash of R5,6m, and noted that it recorded revenue of R15,6m, set against expenses of R17,6m. It also said Stilfontein had assets of “considerable value” in headgear and equipment estimated at between R50m and R80m.

“This is hardly the picture of a company in mothballs, painted by (Stilfontein),” the department claimed in its replying affidavit. It called the resignations of Stilfontein directors “reckless”, “contemptuous” and “irresponsible”.
http://www.businessday.co.za/a…stories.aspx?ID=BD4A60458

In Norwegen scheinen sich viele Anleger einer positive Mindoromeldung gewiß zu sein. Da Vestrum einen Abschluß noch im ersten Halbjahr andeutete, zählen nun manche die Tage bis zum 30. runter.

Gestern hat die Osloer Börse sogar einen Handelsstop verfügt, um den Preisanstieg zu untersuchen. Heute früh wurde der Handel ohne weitere Mitteilung wieder aufgenommen.

Volumen heute in Oslo: über 6 Millionen gehandelte Aktien

Möglich, daß die Ursache in weiteren Fondkäufen liegt. Hauptsache, es gibt keine Enttäuschung, wenn sich um den Monatswechsel nichts tut.

Jetzt wird das klar mit den Randmängeln. Das Auto ist ja nur halb drauf!
Aber sonst ganz okay

Auch folgendes nicht ganz ohne Randmängel

[Blockierte Grafik: http://www.allstarz.org/~pierangeli/jpa26.jpg]

Zuweilen ist der Rand doch ausschlaggebend

Schweinchen Schlau wollte die Randmängel immer nicht wahrhaben, das wäre ihm fast zum Verhängnis geworden

Kebbles dealt a blow by ruling on Stilfontein
http://www.businessday.co.za/a…mpanies.aspx?ID=BD4A59227

Heute vermutlich Anklage wg. Mißachtung des Gerichts. Wenn das Hippo eine Strafe erhält, dürfte es kein SA-Unternehmen mehr führen.

Tambok,

zugegeben, HAR hat bei erfolgreicher Restrukturierung und guten Rahmenbedingungen (Goldpreis, Rand) gute Aussichten auf Kurssteigerungen.

Dennoch würde ich zu meinen Droopies nicht sagen, sie wären mit das Beste auf dem Goldmarkt. Eher: Sie gehören zu den schlechtesten Aktien, aber mit guten Zukunftsaussichten.

Simona
Harmony hat ja schon mehr als die Hälfte seines GFI-Anteils verscherbelt, ohne daß es dem Gold Fields Kurs besonders geschadet hätte.

HAR wird mit dem Restverkauf nicht mehr lange warten. Dann ist die Unsicherheit, die deswegen noch über GFI schwebt, weg und könnte sich auf den Kursverlauf positiv auswirken. Vorausgesetzt Goldpreis und Rand spielen mit.

Tambok

"HAR gehört zum besten, was es an GM gibt, .."

Das haben wir in den letzten Monaten alle sehen können [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]

Tschonko,

Jilbey hat ein großes Explorationsgebiet in Burkina Faso, bohrt z.Teil neben Orezone´s Gebieten. War ein Tipp von Art Bechstein von w:o.

Dann sollte ich mal die High River Gold Anteile behalten,wenn der Umtausch vonstatten geht. :))

High River Gold hat mir ein Pferdchen aus dem Rennen genommen: Übernahmeangebot.

Andererseits kann man mit dem Angebot leben: Diesjährige Performance >100%

Aber es schon eine Pest mit den Übernahmen, die sonst häufig bei gedrückten Kursen zu schlechten Bedingungen stattfinden.

Wer ist der nächste: Desert Sun oder Bolivar ?

Die Frage kommt zu früh.

Das entscheidet der Chart in 6-12 Monaten.

@Eldo,

Gruß nach München.

Das was Crystalball erzählt, wird Sinclair aber nicht gefallen.

----------------
Blumberg Artikel: Europäische Zentralbanken haben ihr Pulver in diesem Jahr weitgehend verschossen, die geplanten Verkäufe für dieses Jahr sind großenteils getätigt, während Investor Nachfrage steigt.

Gold May Rise on Speculation Central Banks Will Reduce Sales

June 20 (Bloomberg) -- Gold may rise for a fifth straight week, the longest rally this year, on speculation European central banks will begin to slow annual bullion sales just as investor demand is growing, a Bloomberg survey showed.

Thirty-nine, or 78 percent, of 50 traders and investors surveyed from Sydney to New York on June 16 and June 17 forecast a rise in gold, which gained $10.70 to $440 an ounce last week in New York. It was the most bullish consensus since the survey began April 2004. Nine respondents forecast a decline and two expect little change.

European central banks, which agreed to limit gold sales to 500 tons a year through September, shed 346 tons as of April 1, or about 13 tons a week, London-based researcher GFMS Ltd. estimates. If that rate was maintained, central banks that accounted for most of a 23 percent rise in gold supply in the first quarter will reach their sales target this week.

``They cannot keep selling at this rate,'' said Ian MacDonald, managing director of precious metals trading in New York for International Assets Holding Corp. ``We should really be asking where the gold is going to come from to meet growing investor demand.''

Gold for August delivery rose 2.5 percent last week, surprising the majority of analysts surveyed on June 9 and June 10, who predicted a decline. Bloomberg's survey has correctly forecast the direction of prices in 34 of 60 weeks, or 57 percent of the time.

`Selling Less'

``The central bank issue is an important one for the next six months,'' said William O'Neill, a partner at Logic Advisors LLC, a commodity consulting company in New Jersey. Even if the sales target isn't met this week, the central banks ``will be selling less in coming weeks,'' he said.

Olivier Radelet, a spokesman for the European Central Bank in Frankfurt, declined to comment.

Central banks are the biggest holders of gold, with 31,822 tons, or 1 billion ounces, in their vaults at the end of 2003, according to the International Monetary Fund. Without restrictions, central bank selling helped to send gold prices to a 20-year low of $253.20 in July 1999.

In September that year, 15 central banks in Europe pledged to restrict their sales and lending of bullion for five years. Last year in September, the limit was raised to 500 tons from 400 tons.

Gold's rally has been part of renewed gains in commodities last week including crude oil, which reached a record; copper, which jumped to a 16-year high; and corn, which had its biggest weekly gain in 17 years.

....

Gold's Dollar Link

In the 12 months ending June 1, gold moved almost in lockstep with the euro's performance against the dollar at a correlation coefficient of 0.894. The maximum reading is 1. The coefficient measures the degree to which the two variables move in unison.

Gold mostly stopped moving in the opposite direction of the dollar three weeks ago, after voters in France and the Netherlands rejected referendums for a European Union constitution. The vote has eroded confidence in the euro and helped add about $30 to the price of gold, Merrill Lynch & Co. in New York said in a June 14 report.

``The real bull market begins in gold when it rises against every fiat currency,'' said Dennis Eich, a trader at Chicago- based brokerage Peregrine Financial Group Inc.

Inflation Concern

Prices may touch $445 ``in the near future,'' buoyed by higher oil prices, said Prithviraj Kothari, director at Mumbai- based Riddhi Siddhi Bullion Ltd. Rising energy costs may accelerate the pace of inflation and slow the economy.

Crude oil, which reached a record $58.60 a barrel on June 17, is expected to rise this week as producers face growing demand from refiners, a separate Bloomberg survey showed.

Higher oil prices may reduce consumer spending and ``seriously hurt the U.S. economy, the dollar and be yet another catalyst to buy gold,'' said John Licata, an independent analyst in New York.

Hedge-fund managers and other large speculators increased their net-long position in Comex gold futures in the week ended June 14, according to U.S. Commodity Futures Trading Commission data.

Speculative long positions, or bets prices will rise, outnumbered short positions by 56,861 contracts, up from 39,107 a week earlier, the government's Commitments of Traders Report on June 17 said. The net-long position was the highest since May 10.
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