VANCOUVER, BRITISH COLUMBIA, Sep 21, 2006 (CCNMatthews via COMTEX) -- Madison Minerals Inc. (CA:MMR) (MMRS.F) is pleased to provide a drilling update on its Lewis Property in Landner County, Nevada. The Lewis Property is directly contiguous to the 8.5 million ounce Phoenix-Fortitude gold mine property of Newmont Mining Corporation.
Madison Minerals Inc.: Drilling Update-Lewis Property, Nevada Drill Program Expanded to 50,000 Foot Minimum
"Newmont Mining Corporation controls mineral rights immediately south of the SV06-192, but the zone is open to the north and west on lands controlled by Midway."
Midway Announces Gold Results for West Diatreme Target at Spring Valley Project, Nevada
DJ St Andrew To Buy Gold Mining, Expl Assets From Newmont
Sep 18, 2006 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
St Andrew Goldfields Ltd. (SAS.T) has entered into a definitive purchase agreement with Newmont Canada Ltd., a unit of Newmont Mining Corp. (NEM), to acquire all of the shares of its subsidiary Holloway Mining Co. for $40 million plus net smelter return royalties.
"The bottom line is the HUI, after many months of creating false hope this past summer, is finally nearing the point where its next major interim low is probable. Just as this past June when no one was scared was the time to be wary, today when everyone is scared is the time to get excited. If the secular gold and HUI bulls are still on course to power higher, then the interim low ahead of major upleg 7 is probably rapidly approaching.
All bull markets flow and ebb, follow rhythms established over time and driven by sentiment. It is very exciting to once again be reaching the moment in time in the HUI when its current ebb is likely to bottom out. For all of you prudently and patiently waiting for the first great buying opportunity in gold stocks since summer 2005, it looks like your patience is finally going to pay off. Congratulations!"
Gaming HUI Corrections 2
by Adam Hamilton
3rd Hour with Jim & John
Update on the Gold Market
Other Voices: Bill Murphy, GATA
fso
The Wall Street Transcript: Questioning Market Leaders For Long Term Investors - Golden Star Resources Ltd (GSS) (PDF)
Focus: GOLD · Momentum: GROWTH · Location: GHANA
Golden Star is a gold mining company with its operating mines on the prolific Ashanti Gold Belt in Ghana, West Africa. 2005 production was 200,968 ounces and this is expected to increase significantly to 300,000 ounces in 2006 and 500,000 ounces in 2007.
Our growth in 2006 and 2007 is largely the result of the expansion of our activities at Bogoso/Prestea. Construction and development activities for this expansion are well progressed and are expected to be completed late in 2006 at a cost of $125 million.
At year-end 2005, Golden Star had 4.05 million ounces in reserves and, in addition, 200% more than that in its resource categories, all within trucking distance of current processing plants. The reserves and resources were estimated at gold prices of $400 and $480 per ounce respectively.
The gold market and gold prices, 1800 – 2006 »
DRDGOLD (Nasdaq: DROOY)
About Us
Press Releases
24/08/2006
Operational results for the quarter and year ended 30 June 2006
read more...
BENEFITS FROM ‘TOUGH LOVE’ START TO REALISE
24 August 2006
Letters to Shareholders
24/03/2005
When I wrote to you in our Investor Brief last week, I thought we had just survived some of the toughest times at DRDGOLD, but I must admit now that the last 48 hours have been even tougher.
read more...
Canyon Resources faces possible AMEX delisting - MarketWatch
CANYON RESOURCES CORPORATION (AMEX:CAU)
Canyon Resources Corporation is a U.S. based mining company, whose business is the discovery and production of precious metals. We welcome you to our web site and invite you to learn more about Canyon and its future prospects for growth.
http://www.canyonresources.com/
Canyon Resources Provides Update on Reward and Briggs Projects
Stillwater Mining Company Resumes Operations at Its East Boulder Mine
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its website: http://www.stillwatermining.com.
SOURCE Stillwater Mining Company
Patricia Mining Corp. Announces Drill Results
TORONTO, ONTARIO, Sep 12, 2006 (CCNMatthews via COMTEX) -- Patricia Mining Corp. (CA:PAT) is pleased to announce the latest assay results from the 2006 underground drilling program at the Island Gold Project near Wawa, Ontario. This project is a joint venture operation with Richmont Mines Inc.
http://www.marketwatch.com/New…teid=mktw&sid=40154&symb=
Patricia Mining Corp. Announces Surface Exploration Drill Results
TORONTO, ONTARIO, Sep 14, 2006 (CCNMatthews via COMTEX) -- Patricia Mining Corp. (CA:PAT: news, chart, profile) is pleased to announce the latest assay results from the 2006 surface drilling program at the Island Gold Joint Venture near Dubreuilville, Ontario. This project is a joint venture operation with Richmont Mines Inc.
Precious Metals: Buy, Balk or Bolt? - [at RealMoney by TheStreet.com]
Peru's Benavides named chairman of Buenaventura unit
LIMA (MarketWatch) -- Peruvian miner Compania de Minas Buenaventura SAA (BVN) said in a statement that Alberto Benavides de la Quintana is the new chairman of Inversiones Mineras del Sur S.A. or Inminsur, one of its subsidiaries.
Metal Stocks Get Heavy Toward Value - [at RealMoney by TheStreet.com]1
The exchange-traded funds that hold bullion, streetTRACKS Gold Shares (GLD) and iShares Comex Gold Trust (IAU), would be likely to benefit from increased investment demand, as would gold miners such as Newmont (NEM), Barrick (ABX) and Goldcorp (GG).
GFMS Sees $700 Gold By Year-End
"Companies with so-called tax stability agreements have so far not been required to pay the royalties. Among others, those companies include the giant Minera Yanacocha SRL gold mine, operated by Newmont Mining Corp. (NEM),"
Peru congress group to give opinion on mining royalties
..."This HUI outperformance of gold over the past week confirmed the seventh HUI/Gold Ratio buy signal of our gold-stock bull to date.
This latest buy signal is once again highlighting the HUI/Gold Ratio, or HGR, indicator."...
The effortlessness of charting the HGR led to entire trading systems being developed around it, and some of these systems yielded excellent major buy and sell signals for the HUI....
I find myself interested in the HGR again this week for a couple reasons. Some of our subscribers at Zeal use the HGR as their primary trading indicator, so they are excited about the latest buy signal. The HGR is also interesting though as its evolution of effectiveness illustrates the typical lifespan of an indicator. Most trading indicators are not perpetual in their utility, but work best for a finite period of time before fading.
With newfound interest surrounding the HGR's latest buy signal, it is an ideal time to examine both its utility and limitations. In order to grasp the significance of the HGR though, it is important to have a rudimentary foundation in the basic mechanics of ratio analysis.
A ratio is simply one number divided by another. In the case of the HUI/Gold Ratio, naturally it is the daily close of the HUI divided by the daily close of the price of gold. When this ratio, or any ratio, is charted over time it provides an excellent running representation of relative strength and weakness between the two variables.
When a ratio is climbing on a chart, it means the top number is outperforming the bottom number. In the case of a climbing HGR, the HUI is either rising faster than gold like this past week or falling slower than gold in order for the HGR to rise. Conversely when a ratio is falling, it means the bottom number is outperforming the top. For the HGR this happens when gold rises faster than the HUI or far more typically when gold falls slower than the HUI.
Generalizing, usually if this ratio is rising significantly it is during a major HUI upleg, as the HUI gold stocks tend to rise much faster than the gold they mine. If this ratio is falling significantly though, it usually means a major HUI correction is underway. Leverage is a double-edged sword, so gold stocks fall faster than gold in their periodic corrections. If gold falls slower than the HUI it is outperforming the HUI and lowering the ratio.
Like any indicator, the HGR has limitations. I've been well aware of these since I first started following this indicator, and in past essays on the HGR I have said that it is best used only as a secondary confirmation, not as a primary trading signal. Nevertheless, due to its ease of use and seeming clarity a lot of investors and speculators have been using it as a primary. It is crucial they understand its limitations.
Before we delve into these limitations, it is useful to consider the bull-to-date history of HGR buy and sell signals. There have been seven of each since 2001. A buy signal is defined as a ratio resistance breakout, when the HGR establishes an upper resistance line but then breaks above it early on in the next major upleg. A sell signal is defined as the ratio falling under its 50-day moving average.
While this clever HGR trading system sounds complicated in the abstract, it is easy to understand when drawn on this chart. Viewing all the HGR buy and sell signals in context also reveals how much more common they have become in the past year or so. Where HGR buy and sell signals used to be rare, now they are happening with increasing frequency. Each of the seven sets of buy and sell signals are numbered below....
The bottom line is the HUI/Gold Ratio trading system that has been popular, and very effective, in recent years does have limitations. Like every trading system it is built on assumptions that add layers of subjectivity that can never be squeezed out. As such, neither it nor any other indicator should be used in isolation for trading. The best odds for success exist when a multitude of indicators agree on a particular likely path ahead.
Therefore prudent investors and speculators will take a signal from any one system with a grain of salt. If only that system is signaling an entry or exit, it should be carefully investigated before capital is committed. This applies directly to the recent HGR buy signal we saw in mid-August as well. Be careful here.
aus:
September 08, 2006
HUI/Gold Ratio Limitations
by Adam Hamilton
Last Update: 3:41 PM ET Sep 7, 2006
MONTREAL, QUEBEC, Sep 07, 2006 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (RIC) and Patricia Mining Corp. (Patricia Mining) (CA: PAT) are pleased to announce start up of the 650 tonnes per day carbon-in-pulp mill at the Island Gold project. The mill will initially begin operations, at a rate of 500 tonnes per day to process a surface stockpile of approximately 30,000 tonnes of mineralized material from underground development and test mining. Technical parameters and metallurgical results as to gold recovery, gold grade reconciliation, milling costs and production rate will be integrated in a NI 43-101 compliant technical report anticipated to be filed at the end of November 2006.
The underground definition drilling program on the Island Zone is ongoing. The surface exploration program to be included in the NI 43-101 report has been completed. Results of these programs are currently being compiled.
The Island Gold Joint Venture (Richmont Mines 55% - Patricia Mining 45%) is an advanced underground exploration and development project located 15 km from Dubreuilville (90 km from Wawa) in Northern Ontario.
Richmont Mines is a gold producer focusing its activities in the Canadian provinces of Ontario, Quebec and Newfoundland. The Company has no long-term debt and has no hedging contracts on gold or currency. The Company has 24.2 million shares outstanding.
Patricia Mining Corp. is a Canadian exploration and development company about to become Canada's newest gold producer. Patricia's main asset is the Island Gold Project.
This news release was prepared by the companies' management teams, which assume full responsibility for its content. The TSX Venture Exchange has not reviewed this news release and accepts no responsibility for its veracity or accuracy.
Last Update: 3:41 PM ET Sep 7, 2006
MONTREAL, QUEBEC, Sep 07, 2006 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (RIC) and Patricia Mining Corp. are pleased to announce start up of the 650 tonnes per day carbon-in-pulp mill at the Island Gold project. The mill will initially begin operations, at a rate of 500 tonnes per day to process a surface stockpile of approximately 30,000 tonnes of mineralized material from underground development and test mining. Technical parameters and metallurgical results as to gold recovery, gold grade reconciliation, milling costs and production rate will be integrated in a NI 43-101 compliant technical report anticipated to be filed at the end of November 2006.
The underground definition drilling program on the Island Zone is ongoing. The surface exploration program to be included in the NI 43-101 report has been completed. Results of these programs are currently being compiled.
The Island Gold Joint Venture (Richmont Mines 55% - Patricia Mining 45%) is an advanced underground exploration and development project located 15 km from Dubreuilville (90 km from Wawa) in Northern Ontario.
Richmont Mines is a gold producer focusing its activities in the Canadian provinces of Ontario, Quebec and Newfoundland. The Company has no long-term debt and has no hedging contracts on gold or currency. The Company has 24.2 million shares outstanding.
Patricia Mining Corp. is a Canadian exploration and development company about to become Canada's newest gold producer. Patricia's main asset is the Island Gold Project.
This news release was prepared by the companies' management teams, which assume full responsibility for its content. The TSX Venture Exchange has not reviewed this news release and accepts no responsibility for its veracity or accuracy.
