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 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.
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.
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.
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.
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.
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.