The 79 Times – Today in Gold

Reddit

The Australian Financial Review reports that with commodities continuing a strong post-correction recovery last week, further gains in resource stocks this week are likely. This includes gold, which last week hovered near USD$670 an ounce.

A Joint Venture agreement between Goldsearch (ASX: GSE), BHP Billiton Minerals (ASX: BHP) and Independence Group (ASX: IGO) has been completed for the East Musgrave Project in South Australia. Under the terms of the new joint venture agreement, BHP Billiton can earn a 65% interest in the project by spending AUD$25 million or by delivering a bankable feasibility study within 10 years.

West Australian company De Grey Mining (ASX: DEG) has completed a placement of 26.8 million new shares, adding AUD$3.35 million to the company’s working capital position. The issue will allow De Grey to enter the next phase at its Turner River project, where the company has identified a number of prospects containing gold, as well as zinc, silver and lead.

Goldstar Resources (ASX: GDR) has announced a 110% increase in the estimated tonnage of potentially high-grade material in its Tubal Cain Project in Victoria, taking the total estimate to 2.3 million tonnes. The company has said that Tubal Cain, a historic gold mine in Victoria, represents a priority development for the company. Shares in Goldstar are currently trading at AUD$0.65.

The Daily Reckoning Australia

The Daily Reckoning
The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. Slightly offbeat and far from institutional, The Daily Reckoning delivers you straight-forward, humorous, and useful investment insights from a world wide network of analysts, contrarians, and successful investors. Founded in 1999, The Daily Reckoning is published in 7 countries with a worldwide readership of almost 1 million people.
Reddit

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz
Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@dailyreckoning.com.au