CEO Craig Nelsen on Why Avanti Mining Should be in Your Portfolio

This is Part 1 of a 5-part series on Avanti Mining Inc. (OTC Other: AVNMF; TSX-V: AVT).  Part 1 features Craig Nelsen, CEO of Avanti Mining, discussing why Avanti should be a part of your portfolio.  This interview can be seen by clicking on the picture below.

Nemaska Commences 9,000 Meter Drill Program and Provides Update at Whabouchi

Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX) continues to have lots to talk about regarding its 100% owned Whabouchi property in the James Bay region of Quebec.  Between October 12 and November 12, 2010, 16 trenches perpendicular to the mineralized zones, spaced approximately 50 m apart and totalling 1,969 m, were dug. In addition, 810 m of stripping was done along strike on 7 contact zones. A total of 670 channel samples were taken from these trenches and stripping areas and were sent for assay. Results are expected in about 6 weeks. During this period, the geological mapping of all the trenches and stripping zones was also completed.

In addition, Nemaska recently commenced a 9,000 m diamond drill program (HQ size) on Whabouchi. As of this date, 9 of the 48 holes planned have been completed for a total of 2,038 m. All the mineralized zones were intersected where expected. The objectives of this drill program are to obtain a representative sample across the deposit to be used in pilot plant metallurgical testing planned for winter 2011 and to update the initial resource estimate published on July 14, 2010 by SGS Geostat. The updated resource will include both the drill results and channel samples completed earlier this month. The drilling will also enable the Company to increase its confidence in the resource, a necessary step in moving the project into feasibility stage.

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Gold Stands to Gain as Europe’s Currency Crisis Continues

JOHANNESBURG – Finally, after weeks of denial and the usual political rhetoric, the details of the bailout package for Ireland have been released. On Sunday, EU governments finally approved an €85 billion ($113 billion) bailout deal for Ireland. A statement issued said the International Monetary Fund, the 16 Eurozone nations and the European Commission will be involved. Britain, Sweden and Denmark will offer bilateral loans. The interest rate that Ireland will pay is going to be 5.8% which is higher than the 5.2% that Greece is paying on its bailout. The European Commission also granted Ireland an extra year to bring down its deficit to within the EU limit of 3%.

After the news was announced, the euro hardly reacted, but then later in the day, it fell to the lowest level in more than two months against the dollar as Ireland’s agreement to receive 85 billion euros ($112 billion) in aid failed to stem concern that Europe’s sovereign-debt crisis will deepen. The question now is whether Sunday’s agreements will relieve the pressure in the markets, or whether the markets are going to keep pushing Portuguese and Spanish risk measures higher and force a near-term bailout of at least Portugal and perhaps Spain. Credit default swap prices on Monday rose by 23 bps for Spain and by 40 bps for Portugal. By looking at these record high rates, one can assume that investors are not reassured that the current crisis is anywhere near resolved and there is talk that Spain will require around 350 billion euros in aid.

India to Consider Hike in Import Duty on Gold and Silver

MUMBAI – There is a buzz in the market and it is not going away. Traders in Mumbai say they are expecting the Finance Ministry to bring out a revised tariff for gold and silver imports in the near term.

Silver for immediate delivery fell 0.3% to $26.64 an ounce on Monday, after losing 3.2% on November 26. The  $29.36 an ounce price reached on November 9, was the highest level since March 1980.

The world’s largest silver-backed exchange traded fund, iShares Silver Trust , said its holdings slipped to 10,711.23 tonne by November 26, from an all-time high of 10,893.68 tonne on November 23.

Peru’s Mining Ministry Reports Decline in Gold and Silver Production

RENO, NV – Peru Ministry of Energy and Mines reported a 11.17% drop in gold mining production for  the first 10 months of this year, as well as a 40.39% increase in iron ore production and a nearly 30% boost in molybdenum output during the same period.

Peruvian mines produced 136,024,854 grams (4,373,300 troy ounces) of gold from January through October of 2010, an 11.7% decline from the production of 153,128,800 grams (4,923,205 ounces) of gold reported during the same period of 2009.

The country mined 3,017,157 kilograms (97,003,849 troy ounces) of silver during the first 10 months of this year, down 5.87% from the 3,205,382 kilograms (103,055,424 ounces) of silver produced during the same period of last year.

IMF Sold Less Gold in October

NEW YORK/WASHINGTON Nov 29 (Reuters) – The International Monetary Fund has slowed the rate of selling its gold by 40 percent in October from the previous month, as interest among central banks to own the metal increased as a hedge against economic uncertainty.

The IMF sold 628,000 ounces (19.5 tonnes) of gold in October as part of its previously announced open-market bullion sales plan, an IMF spokesman said on Monday.

October’s gold sales were sharply below the 1.04 million ounces sold in September, when nearly a third of the sale was going to Bangladesh.

Company Interview – Nemaska Exploration: Guy Bourassa, President and CEO

Guy Bourassa, President and Chief Executive Officer of Nemaska Exploration (OTC Other: NMKEF; TSX-V: NMX), recently visited Southern California, during which time we hosted a number of investor presentations.  We also had the opportunity to sit with Guy and ask him questions about the Company, including expectations going forward. This exclusive interview can be seen by clicking on the picture below.

Avanti Receives Section 11 Order from BC Environmental Assessment Office

Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has received a Section 11 order regarding the Company’s Kitsault Mine, which sets out the consultation requirements and the First Nations to be consulted for the project.  As a result of the Section 11 order, Avanti can move to finalize the application information requirments following a 30 day public comment period tentatively set to begin in early 2011.

According to Craig Nelsen, President and CEO of Avanti, “We are very pleased at the projects progress through both the Provincial and Federal Environmental Assessment process and the relationship that has developed between the agencies and members of the Working Group. The draft Application Information Requirement (“AIR”) is under review with a goal of it being issued for public comment in January 2011. We are also very proud of the evolving project design that has taken place during the Feasibility Study expected by December 15.  Environmental considerations have informed this design and made for a much more sustainable operation.”

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Gold Bullion Development More than Doubles Land Position

Gold Bullion Development (OTC Other: GBBFF; TSX-V: GBB) has entered into an agreement to earn 100% in four properties near the Company’s 100% owned Granada Gold Property in northwestern Quebec.  By securing an additional 6,000 hectares, Gold Bullion has secured a dominant land position along the prolific Cadiallac Trend.

According to Frank Basa, President and CEO of Gold Bullion, “With the results we’re seeing in our ongoing drilling, a bigger picture is unfolding at Granada.  We’re consistently finding extensions to structures which is why we have taken this immediate and strategic decision to more than double the size of our landholdings. There is significant exploration upside in all directions surrounding the former Granada Mine. Mineralization in the LONG Bars Zone is extending further east but it’s also widening north to south. Recent prospecting has also demonstrated new potential going west.”

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How is Gold Faring in Non-Dollar Terms – and Where Next?

LONDON – The price is of course always subject to fluctuation and correction, and quite possibly some sizeable moves, but for now at least any such correction is likely to find the physical buyers coming out in droves and giving the price some support.  For the longer, term, however, much higher prices will depend on the weight of money coming in from the investor and there will come a point when inflationary interest rate expectations

We must all know that gold hit record levels in dollar terms in early November and that since then it has staged a sharp and much-needed correction.  In fact as we approach December, gold looks very close to completing a head-and-shoulders formation and that puts it at risk of dropping by another hundred dollars.  Whether this comes about will in part be a function of the resilience (or otherwise) of the physical market as well as the perception of investors and speculators and the level of stop-loss selling that might develop.