Victoria Announces $25 Million Bought Deal

Victoria Gold Corp. (OTC Other: VITFF; TSX-V: VIT) plans to raise $25 million at $0.70 per share in a bought deal financing.  The Company plans to use the proceeds from the offering for project development, exploration and general corporate purposes. 

We believe that with this financing, the Company will will be fully funded to to production.  Let the good times begin.  Drill results are expected throughout the fall and preparations to get into production as early as next summer will continue to move forward.  The next 12 to 18 months are going to be exciting and rewarding.

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China’s Enormous Appetite for Mining Assets

Toulouse - China, a country that already consumes a third of the world’s copper and 40% of its base metals, is on a buying binge in the global mining market, America’s National Mining Association reports. Last year, companies based in China or Hong Kong joined in foreign mining acquisitions totalling $13 billion, 100 times the level of activity five years ago. China is on course to sustain this pace in 2010, say analysts, with 76 outbound mining deals completed and valued at $8.3 billion. The Heritage Foundation, which has built a database to track such deals, predicts mining acquisitions are the principal driver in China’s outbound investment, expected to exceed $100 billion in 2014. Analysts believe China accounted for one-third of the value of all cross-border mining deals last year.

Jeffrey Nichols: Heat Exhaustion and Holidays Make July Tough Month for Gold

NEW YORK - July has been a difficult month for gold investors.  Holidays, heat exhaustion, and seasonality contributed to the gradual decline from late June’s historic high price for the yellow metal.  Most of July was characterized not so much by physical sales . . . but simply a lack of physical buying, physical buying that had earlier propelled gold to an all-time historic high of $1265 and change on June 21st.

Peter Brimelow: Gold Down, But Radical Bugs Aren’t Out

NEW YORK (MarketWatch) — Gold is under the gun, but not for the first time. Amid general panic, the radical gold bugs remain confident.

The yellow metal has had a miserable July. Last week was the fifth consecutive week of declines, and the metal has not closed up in New York for two days in a row since late June. On Monday and Tuesday this week, the August gold contract plunged a total of $29.80 or 2.5% to a level not seen since late April.

Gold Bullion Returns 20.65 Metres of 4.98 g/t Gold

Gold Bullion Development Corp. (OTC Other: GBBFF; TSX-V: GBB) initiated a 20,000 metre drill program in May 2010, results from which are now becoming available.  Good things come to those who wait.  Patience is a virtue.  Regardless of how you say it, you get the picture.  Drill results are now becoming available and according to Frank Basa, the Company’s President and CEO, “We are thrilled with the way this large project is coming together and we are eagerly anticipating additional drill results.” 

To this end, drill hole GR-10-33 intersected 123.5 metres of 1.07 g/t gold within a wider interval of 152.5 metres grading 0.88 g/t gold.  Sixty metres to the west of GR-10-33, GR-10-41 delivered impressive results returning 75 metres of 1.50 g/t gold within a wider interval of 149.35 metres grading 0.83 g/t gold.  This assay includes a high-grade section of 4.98 g/t gold over 20.65 metres.

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Laurion Reports 20.2 g/t Gold Over 0.36 Meters at Sturgeon River

Laurion Mineral Exploration (OTC Other: LMEFF; TSX-V: LME) reported assay results from its first drill hole at Sturgeon River and it appears that the Company is off to a great start at the property.  Drill hole LME 10-01 intersected a 0.36 meter vein which returned 20.2 g/t gold.  And with the inclusion of weakly mineralized wall rock, the drill hole returned 5.55 g/t gold over 1.32 meters.

This is the first of five drill holes on the Marge Vein, the balance of which assay results are pending.  We are encouraged by initial assays and expect continued high grade results as Laurion further develops its resource at Sturgeon River.

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Biomoda Creates the Perfect Cancer Test

Below is an article which was released this morning regarding Biomoda, Inc. regarding the Company’s test for the early detection of cancer.  As the article indicates, the Company may have a perfect test and at this time does remain relatively undiscovered.

Biomoda, Inc. (BMOD), a biotech company focused on developing cancer detection technologies, similar to companies like Response Genetics, Inc. (RGDX) and Alere, Inc. (ALR), has created one of the most promising cancer detection technologies on the market today, but remains relatively undiscovered…

Biomoda, Inc. (OTC-BB: BMOD) is a biotech company focused on developing cancer detection technologies based on a molecular marker technology developed at Los Alamos National Laboratory and trademarked under the name CyPath®.

Currently, CyPath® has finished its pilot clinical trials. Anticipating a report this fall, the company is preparing for its pivotal study. The company is also working diligently to seek approval in other markets, including the European Union.

Countdown to Gold’s $1,300 Assault

We remain convinced that gold has yet to make its high for the year, and expect an assault on $1300 to begin in about a month from now.

Despite our bullishness, we are not convinced that buying more call options on gold is the right move for now, since we expect action to the upside to be fairly limited over the next few weeks. Our reasoning for this is partially due to the fact this is a seasonally weak time of year for gold, but also since we saw heavy selling in ‘out of the money’ gold call options and futures this week, whenever the yellow metal showed some strength. This indicates that there could be a lot of trapped speculative longs that will be looking to exit their positions as soon as the price turns just slightly in their favour, creating a dampening effect on the price.  

Gold is Best Performing Asset Class Over 6 Months, 1, 3, 5, and 10 Years

London - Over the most recent ten year period, in UK terms gold has outperformed its nearest competitor (bonds) by over 240%.  As investors have paid the penalty for increasing risk exposure over the period, the presence of gold in a portfolio matrix has boosted returns into positive territory.  Meanwhile ETF investment outstripped coin and bar demand last year.

SEC Says New Financial Regulation Law Exempts it From Public Disclosure

Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.

So much for transparency.

Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.