Beiträge von Eldorado

    IMA's President Joseph Grosso Named 'Exploration Man of the Year' in Argentina


    Monday December 5, 10:17 am ET



    VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 5, 2005--IMA Exploration Inc. (AMEX:IMR - News; TSX VENTURE:IMR - News; FWB:IMT) (WKN 884971) is pleased to announce that the Company's President & CEO, Mr. Joseph Grosso, has been named as the "Exploration Man of the Year" by the Argentinean mining Association Panorama Minero. This prestigious award was presented at the 29th annual Argentinean Mining Exposition in Buenos Aires, Argentina, in recognition of Mr. Grosso's outstanding achievement in mineral exploration.

    In accepting the award Mr. Grosso commented; "It is a great honor to receive this award and I would like to express to you my deepest gratitude. I cannot accept this award alone; it belongs to all the members of my team, and in particular our Argentinean contingent, which I am proud to say is almost 100% Argentine. We have achieved this success only through the combination of our talent, skills and good fortune. I would like to add that all the knowledge I have of mining I learned here in Argentina, and tonight I feel like an adopted son of Argentina. Thank you."


    Other award recipients at this gala event included Barrick Gold Corp., which received the award for Mining Company of the year.


    Through the month of December 2005 the Biography Channel in Canada will be airing features on IMA Exploration Inc. and other companies managed by The Grosso Group. These features can also be viewed on The Grosso Group web site (http://www.grossogroup.com).


    ON BEHALF OF THE BOARD


    "Gerald Carlson"


    Dr. Gerald Carlson, Chairman

    Rand, commodities and global markets likely to set the tone



    December 5, 2005


    Johannesburg - Stocks are likely to track the movement of the rand, rampant gold and platinum prices and the direction of global markets in the week ahead, due to an absence of scheduled corporate events.


    The FTSE/JSE Top40 index of blue chips rose 0.89 percent to 15 391.08 points, while the FTSE/ JSE Africa all share index added 0.83 percent to 16 940.83.


    The bourse is less likely to be moved by the outcome of a monetary policy committee meeting this week, which analysts expect to leave interest rates intact. A rate hike would curb spending and hurt earnings prospects among retail and bank stocks.


    Banks were upbeat on Friday after weakening during the week on profit taking, with FirstRand up 2.18 percent at R15.95. Retailers were also perky, with fashion outlet Edgars Consolidated up 2.18 percent at R31.35.


    A more likely effect on stocks is expected from the rand, which hit an eight-week peak against the dollar on Friday, buoyed by rocketing prices of gold and other commodities along with anticipation of further capital inflows.


    "With no results or much corporate news [this week], the rand will probably have a strong hand on the market," said Craig Pheiffer, a strategist as Sasfin Frankel Pollak Securities.


    "The link [with global markets] is our large cap stocks that have their primary listings elsewhere, and as those markets benefit, provided the rand doesn't gain too much, our shares are re-priced higher," Pheiffer said.


    "We are also likely to take a cue from metal prices," he said, in reference to the rising prices of gold and platinum."


    Shares in global mining giants soared on Friday after gold and silver reached 23-year and 18-year peaks, respectively. BHP Billiton closed up 2.98 percent at R99.95 and Anglo American added 0.4 percent to end at R203.11.


    Pulse


    The market expects no change in interest rates, but if a surprise change was announced it would move the market.


    - Abri du Plessis, chief investment officer at Gryphon Asset Management, on the rate decision expected on Thursday

    Gold Fields to Proceed With Cerro Corona Project in Peru


    Monday December 5, 5:39 am ET



    JOHANNESBURG, South Africa, December 5 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (NYSE: GFI ; JSE: GFI) is pleased to announce that the Peruvian Government has approved the environmental impact study for the Cerro Corona project in Northern Peru.





    The feasibility study for this project was completed during November and the Gold Fields Board, subject to the receipt of this approval, subsequently approved the associated investment.


    The project involves the development of a 91 million ton gold/copper porphyry deposit at a capital cost of US$277 million. The project has reserves(1) of some 2.9 million ounces of gold and 480,000 tons of copper, or approximately 5.4 million ounces of gold equivalent(1).


    The project is expected to produce approximately 2.3 million ounces of gold and 412,000 tons of copper over its 15-year life, averaging some 300,000 ounces per year of gold equivalent(1). However, production in the initial years of the project will be closer to 400,000 ounces per year.


    Life of mine total cash costs, on a gold equivalent basis, are estimated at some US$250 per ounce(1).


    Ian Cockerill, Chief Executive Officer of Gold Fields said: "The approval of the environmental impact study is the first step in what we believe will be a long and mutually beneficial partnership between Gold Fields and the people of Peru."


    Gold Fields announced on December 19, 2003, that it, through its subsidiary Gold Fields Corona BVI., had signed a definitive share purchase agreement to acquire 92.0 per cent of the voting shares (80.7% of the economic interest) in Sociedad Minera La Cima S.A., which owns the Cerro Corona Project and other mineral properties in the Cajamarca district of Peru.


    Gold Fields will now commence steps to complete the acquisition referred to above for a total consideration of US$40 million, and construction is expected to commence in February 2006.


    "Cerro Corona will bring us closer to our strategic goal of acquiring an additional 1.5 million ounces of international production by 2009, thereby improving the balance between production from our South African and International operations. It will consolidate our position in South America and, together with our proposed acquisition of Bolivar and its Choco 10 mine in Venezuela, increase substantially our presence in one of the most prospective gold regions of the world," added Cockerill.


    Cerro Corona will be a single surface mine producing approximately 6.2 million tons per annum of ore at a life of mine strip ratio of 0.83, for a total of approximately 91 million tonnes of ore mined over a 15-year life, at an average grade of 1.0 gram per tonne of gold and 0.53% copper.


    Ore will be treated in a conventional sulphide flotation concentrator, to produce a 25% copper concentrate containing typically 40 grams per tonne of gold for custom smelting at third party facilities.


    Approximately US$150 million of the capital costs will be financed through a project finance facility and the balance of the capital costs as well as the purchase consideration is expected to be funded from internal sources.


    "With a purchase price of less than US$11 per reserve ounce of gold-equivalent, the total cost of gold bought (acquisition cost + capital costs + working costs), per ounce of gold recovered, is approximately US$340 per ounce. Cerro Corona represents fundamental value for Gold Fields' shareholders and again confirms our commitment to the principle of not overpaying for assets," said Cockerill


    "In Cerro Corona we will have a Gold Fields franchise asset at one of the best gold mining addresses in South America, a significant foothold from which we intend to grow in the region," he added.


    The Cerro Corona deposit is located within a well-endowed mineralised trend in the Hualgayoc mining district, about 35 kilometres north of the well known Yanacocha mine and approximately 90 kilometres by road north of the Departmental capital of Cajamarca in the western Cordillera of the Andes Mountains.


    Gold Fields is one of the world's largest unhedged gold producers, with annual gold production of approximately 4.2 million ounces from mines in South Africa, Ghana and Australia as well as a development project at Cerro Corona in Peru. The Company has reserves of 64.8 million ounces and mineral resources of 174.5 million ounces. Gold Fields has its primary listing on the Johannesburg Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris and Brussels, and on the Swiss Exchange. All of Gold Fields' operations are ISO 14001 certified.


    (1) Figures reported at US$375 per ounce of gold and US$0.90 per pound of copper.

    On January 22, 2001, two days after George W. Bush was inaugurated as President of the United States, the price of gold was $265.90 an ounce. Last week the gold price broke through the $500 dollars an ounce level; that means the dollar has been devalued in terms of gold by almost 50 per cent in the four years and ten months of this presidency.


    That does not reflect well on Gordon Brown, who as Chancellor sold a large part of Britain’s gold reserve at a price that was way below the present level. It reflects even worse on President Bush. He is ultimately responsible for the management of the dollar. It has halved its gold value on his watch.


    The rise in the gold price does not come as a surprise. Many commentators, including myself, had forecast that gold would rise to these levels. My forecast was that gold would reach $500, and when it broke through $500 would move on towards $1,000 an ounce. It would now require a radical change in US financial policy to stabilise the dollar; I do not think such a change is at all likely. So far, President Bush has been very reliable as an agent of dollar devaluation.


    There are technical reasons, both on the supply and demand side, that make it probable that the gold price will continue to rise. Yet it was not these technical market reasons that led some of us to forecast the higher price, but the underlying weakness of the financial policy of the United States.


    Alan Greenspan, the retiring Chairman of the Federal Reserve Board, deserves his own considerable share of responsibility, all the more so because he saw the risks of combining large budget deficits with growing trade deficits and loose monetary conditions. That is a classic recipe for depreciating a currency. From time to time Alan Greenspan has sounded a warning; he has been willing to blow the whistle, but he has never been willing to pull on the brakes.


    Last week, he made his farewell speech to the G7 finance ministers in London, and gave another belated warning. “If the pernicious drift towards fiscal instability in the United States and elsewhere is not arrested, and is compounded by a protectionist reversal of globalisation, the adjustment process could be quite painful for the world economy.”


    The phrase “pernicious drift towards fiscal instability” is an amazing statement of any chairman of the Fed about any president, all the more extraordinary when it comes from as cautious a man as Alan Greenspan about a President whom he still serves. Incidentally, it applies just as much to Gordon Brown as to George Bush. “And elsewhere” refers to the “pernicious drift” in UK policy.


    No doubt the fall of the dollar could have been matched by a rise in the euro; it is possible for people to switch between currencies, rather than into gold. But the euro itself is now a suspect currency. Many people doubt whether it will be possible for Italy to remain inside the euro straitjacket. Gold is better than the dollar, and better than the euro as well.


    The rise in the gold price is a natural consequence of the inflationary fiscal and monetary policies of the United States. That has produced a very widespread inflation in the value of real assets, an inflation that is apparent in the global housing market, most of all in the British and American housing markets.


    Gold is a natural alternative investment for the Asian countries, particularly China, India and Japan. These countries have a stronger tradition of investing in gold; their economies are growing much faster than those of the West. They already have more dollars than they really want. It has been probable for a long time that they would increasingly invest their surplus dollars in buying gold. That must make sense for them. Now there is far more private wealth in China and some of that is being invested in gold. Central banks may have a reason for supporting the dollar. Asian billionaires want profits.


    One can go back to the basic logic of exchange markets, to Irving Fisher’s equation of exchange, or to Mademoiselle Zélie’s experience in Polynesia with coconuts. The US has created too many dollars; the twin US deficits are pumping out more of them all the time.


    The wise virgins still have gold, but the foolish virgins, like our own Chancellor, sold most of it years ago. The age-old discipline of supply and demand leaves the dollar with only one way to go. Gold will continue to rise in value so long as the United States is at war, the US budget is in deficit, the US trade account is in deficit and George Bush is in the White House. You can bet 5,000 coconuts on that. ;)


    http://www.timesonline.co.uk/article/0,,1052-1904459,00.html

    Indian Demand this week


    There is no doubt that the Indian buyer is still looking with absolute disbelief and distrust at the market in gold. Buyers are grumbling and sellers are delighted because gold has risen from Rs 6,100 to Rs 7,500 a 23% increase in the last three months. Retail sales have come down 40 to 50%, with scrap taking the place of imports to top up stock levels, which have barely moved in the last few months, across all Indian States.


    India was importing 50 tonnes a month previously, which gives us an indication of the level of scrap sales. Imports are zero in the last three months. Indians are now selling! So knock 150 tonnes off last year’s levels of imports for the second half of the year, to date.


    It could be that India continues to rely on scrap sales for the next 2 – 3 months, but after that going forward to April / May, would Farmers and Fathers with daughters wanting a gold dowry, enter the market as buyers at the high levels? That remains a possibility. Impatient daughters and wives [with raised eyebrows] won’t wait and don’t care about prices. Indeed the higher the price the better the dowry?


    The question is at what price will Indians begin to dishoard? Forget the $ price, they don’t look at $500, they look at Rs 7,500 and rising up Rs 1,500 in three months. Bear in mind that they get used to a price and then they come to believe it will hold, but this takes time, but how long? The answer lies in the gold price action.


    · ‘Spiking’ will precipitate large volumes of dishoarding, but will that be at Rs 8,000 or more?


    · A steady consolidation followed by mild, but consolidating, appreciation will discourage dishoarding.


    · Short “Spikes” with pullbacks to a previously established ‘floor’ will possibly attract Indian physical buyers.


    If the rest of the gold market keeps the gold price high and rising dishoarding will come out and Indians have 20,000 tonnes of gold hoarded. But they love gold. They will only dishoard if they believe the gold price is too high and going to come down. If they believe it is high but going to stay there, or go higher, they may well accept the fact and buy. They just don’t want to be caught by dropping prices, when they can profit or buy back lower down. They are in a mental whirl at the moment and perhaps struggling with the price more than any other sector of the market!


    So the next question, after they have dishoarded, at what price [after it has made a ‘floor’] will they return to the market. After all, the only reason they will dishoard is to buy back at a lower price.


    We are certain of one fact and that is Indians don’t stop buying gold, they simply postpone their purchases until the price is right!


    Chinese Gold Prices


    Chinese consumers keep buying, despite the rising, exorbitant, retail price of the gold in a market where the premium is way above the international price.


    In Nanning, the capital city of Guangxi Zhuang Autonomous Region, gold price has jumped to 176 Yuan or 22 US$ per gram [U.S.$709 per ounce], this is 40% higher than the $ price in London. In Shanghai, the gold price is 157 Yuan per gram [U.S.$632.52 per ounce], 25.25% higher than the U.S.$ gold price.


    Nothing could better illustrate why the Chinese gold market is still in its infancy and will remain so until the gold distribution network in China is considerably better developed, so dealers cannot get away with such mark-ups. Should this distribution network develop, not only will the premium on the retail price of gold drop, but the potential volumes that the Chinese market could take, would absorb any amount of dishoarding from India where there is a superbly developed distribution network.


    What an opportunity, if the authorities permit such a development? Imagine the arbitrage opportunity there now? Forget any potential revaluation of the Yuan having a negative impact on the Yuan gold price. The development of the Chinese distribution network, will, of itself lower the premium but raise the international gold price as the potential increase in sales, draws in the gold from global markets!


    This is where the bullion banks should be focussing their efforts.

    The Daily Reckoning - Weekend Edition
    December 3-4, 2005
    Baltimore, Maryland
    by James Boric


    MARKET REVIEW: THE INDIAN STORY YOU HAVEN'T HEARD - YET
    How do you invest in India?


    This has been a popular question for years now - especially here at The
    Daily Reckoning headquarters. And how could it not?


    India has the 12th largest economy in the world. Real GDP growth weighed
    in at 8.17% for FY 2004 - double that of the United States. It adds the
    equivalent of a Canada to its middle class each year. Real wages are on
    the rise. And just about every major sector in India is growing. You know
    the stats...


    - India's mobile phone sector is up 53% in the last 18 months
    - Between now and 2007, India has earmarked over $117 billion to improve
    its infrastructure (power plants, ports, roads and airports)
    - And the banking sector in India is on the rise as more and more Indians
    are taking out loans to buy their first house and car.


    Chances are, you could invest in any of these sectors and do very well for
    yourself over the next 10 years. But there is a far bigger story to be
    told about India - one which 99.9% of Americans know nothing about.


    While every economist in the United States is busy crunching the same old
    boring India stats to make their bullish case, I've spent a lot of time
    following a developing opportunity that is playing out right now in
    Mumbai, Delhi, Bangalore and every city in India. This opportunity is far
    bigger than anything you have heard about before. Every high-ranking
    Indian business leader and political figure is involved. Every mom-and-pop
    shop-owner has a strong opinion. And every Fortune 500 company (including
    Microsoft, GE and Wal-Mart) is trying to get in on the deal.


    The opportunity is still in the developing stages. But when it finally
    comes to fruition - and it certainly will - the profits will be measured
    in the hundreds of billions of dollars.


    The opportunity I am referring to is India's impending decision to
    permanently open up its $200 billion retail sector to foreign investment
    for the first time ever.


    As it stands now, India's retail sector is closed to the world. No
    American outfit (or European or Asian for that matter) can set up shop in
    India unless it agrees to a diluted partnership with an existing Indian
    business. Those partnerships involve splitting revenues, paying
    ridiculously high taxes and forgoing the right to own the land they
    operate on.


    Basically, India makes it as hard as possible for any foreign company to
    compete with its mom and pop storeowners. And it's no wonder why. Those
    small shop owners account for 98% of all retail sales made in India each
    year - totaling more than $200 billion. And it's been this way ever since
    the British pulled out of India in 1947.


    But it's about to change.


    India's current prime minister, M. Singh, is a major believer in free
    markets and open competition. He understands that foreign investment and
    competition lead to more jobs, more taxes and more revenues in the long
    run - even though it forces those who can't compete (your small business
    owners) out of business in the short term. And he's proven what
    competition does for an economy's overall health.


    Since taking office in 2004, Singh has increased foreign investment from
    26% to 49% in the insurance sector. He raised foreign investment levels in
    the telecom sector from 25% to 74%. And he allowed foreigners to own up to
    49% in Indian airline companies, as opposed to 40% a year ago.


    The result: India's insurance sector rose 62.3% in the past year. The
    telecom sector rose 102.67%. And the airline traffic shot up 25%.
    Even before his reign as Prime Minister, Singh developed a strong track
    record of opening India up to the world. In 1991, India was on the brink
    of bankruptcy. Its debt equaled 8.5% of its GDP. Its current account
    deficit was nearly 3.5% of GDP. And India had only about $1 billion in
    reserves sitting in the bank.


    Singh, then serving as India's finance minister, immediately rolled up his
    sleeves, took out a $5 billion IMF loan and opened the country up to
    foreign direct investment and foreign competition. He simplified the tax
    structure. He lowered many of the ridiculously high tariffs. And he
    slashed subsidies for domestically produced goods.


    The result: India's economy grew between 6-7% each year after. It now has
    over $145 billion in foreign reserves in the bank. And the Indian stock
    market is up 505.6%.


    And now he has vowed to open India's largest remaining private sector to
    foreign investment and competition - its $200 billion retail sector. In
    fact, in an interview with India's Financial Times, Singh said he would
    like this to happen by the end of this year.


    Of course, I don't expect that to happen so quickly - although it could.
    Chances are it will take another year (or several) to get the job done.
    But when it does happen, look out.


    The last time anything like this happened in Asia was in 1992. That's when
    China opened its then $75 billion retail sector up to foreign competition.
    Here's what's happened afterwards...


    - The Shanghai Stock Exchange's market value soared 44 times over
    - The Hang Seng Stock Exchange rose as much as 314%
    - Total wholesale and retail trade increased 393.3% in the next 10 years
    - The number of supermarkets increased 1,068.24%
    - Retail employment nearly doubled.


    Now the same thing is likely going to happen in India. The only question
    is, how soon? Based on Singh's track record over the last 15 years as a
    prominent Indian political leader, it will be sooner versus later. But to
    find out for myself, I am headed back to India in February. Of course,
    I'll keep you posted on what I find.


    James Boric
    for The Daily Reckoning

    Also mit den Croesus werden wir nicht reich so wie es ausschaut. :(


    Croesus bleibt damit eine Kaufempfehlung. :D Empfehlung: Halten, unter 0,30 A$ kaufen, aktueller Kurs 0,30 A$, Kursziel 0,80 A$. :rolleyes:


    Croesus wird mit geringen Umsätzen an verschiedenen Börsen in Deutschland gehandelt ..(vgl. Kaufempfehlung vom 09.05.05 bei 0,365 A$).


    07.11.05
    © Martin Siegel


    Ich empfehle dann Apollo unter 21 cents, bei den Cash costs sowieso. :D


    Get the Red Fox ! :P

    ""Ich weiß, was Du meinst. Mir sind aber erstmal Staaten wichtig, die nicht so viel Big Brother spielen und wo die Steuern klein sind. Well, an airport is very important, too!""


    Burundi ?? :D


    Teheran ??


    Nord Korea ??


    Shanghai ??


    Caracas / Havanna ??


    Der Big brother ist ja mittlerweile wegen der ""Terrorbekaempfung"" schon fast ueberall, Kaufrausch.


    Das haben das schoen ausgenutzt, diese Saecke !. X(


    Gnight, ich kannst nicht aendern und vergrabs nun im Garten wie die Franzosen. :D


    Eldo

    Ja ich habe viele Jerseys vom letzten Kaufrausch in Thailand. :D
    Well, es gibt so viele Bankplaetze die sind so sicher das man sich aber auch wieder irgenwie unsicher fuehlt. ?(


    Schicks zu mir ich lege es an. :D


    In Suedafrika fragt kein Schwein voher das Geld kommt das ist auch ein Grund fuer den sogenannten Wirtschaftsaufschwung und starken Rand.


    Ziegel fuer schmutziges Geld, reinschicken kannst hier was du willst aber mit Daueraufenthaltsgenehmigung oder Staatsbuergerschaft hgeht nicht viel rauszuschicken.


    Falls , was ich nicht glaube, das es aufgehoben werden sollte dann kracht der Rand garantiert.


    Gnight


    Eldo

    Jetzt seid nicht gleich so websig, die kommt schon noch mit 10% Rendite. :D


    Lass die doch erstmal Kohle machen, die meisten haben noch Schulden. :D


    Goldcorp spuckt dauert welche aus, die anderen, ja da muss ich noch warten.


    Gruss


    Eldo

    ;)Kaufrausch wie waere es mit den Fallschirm wenn kein Airport da ist.


    Da springts ab wie James Bond mit dem Briefcase und wackelst in die Bank. :))


    So ein kleiner Helicoptertrip geht auch.


    Einen Fallschirm kann man immer brauchen speziell bei dem Geschaeft. :D


    Was brauchen wir sonst noch ??? ?(


    Einen Tarnanzug fuers Finanzamt. ?


    Und dann gehst rein, daweil banken die dort alle selber.


    Gruss


    Eldo

    ;)Ulfur mein Tanzgeld habe ich schon raus zum Grossteil.


    Ich kann Castro und Chaves verstehen, die Amis brauchen mal eine Lektion.


    Ich habe mir einige Interviews angehoert und es ist fast in der Presse verheimlicht worden bis auf zwei news agencies das die Saudis und Kuwaitis einen peak erreicht haben in der Oilproduktion was wieder rum heisst das Oil geht nun schnell zu Ende.
    Wenn Venezuala sein Oil stopped und das traue ich Chaves zu wenn er unter Beschuss kommt dann sieht der Amis alt aus.
    2000 Tankstellen sind dann auch zu die Hugo gehoeren, in Suedamerika investieren sehr viel Chinesen und Inder sichern jedoch die Rohstoffen auf nette Weise. Das Volk scheint in zu lieben, ich bin gespannt was sich der Ami einfallen laesst.


    Der Oilpreis wird in kuerze explodieren,die Korrektur ist vorbei, nun auf den Weg zu 80 Dollar.
    Das wird speziell die Amis treffen wie die Faust aufs Auge. X(


    Kauft jetzt noch Heizoel bei den Preis und deckt Euch ein.


    Stell Dir vor ein Bomber geht Kamikaze in eine grosse Anlage der Saudis oder Kuwaitis rein, dann sind gleich 100 Dollar da ohne weiteren Hurricans.


    Die Party geht weiter und die Amis werden bestimmt nicht Salsa dabei tanzen.


    Die gekauften Waffen aus Spanien sind unterwegs um sich ein wenig zu schuetzen bei einen Angriff der Rohstoffdiebe.


    Hugo soll ruhig der Bush Administration mal eine reinfideln zur Abwechslung falls er es kann, Recht hat er !


    Der Mann hat wenigsten Rueckrad muss ich sagen.


    Wie lange ist eine andere Frage.


    Bush ist jedenfalls schon markiert. :D