The trading week ended June 15 was shortened by a national day of mourning on June 11 to honour of the passing of Cold Warrior Ronald Reagan, who was buried in Simi Valley in California following funeral services in Washington D.C. Trading action…
The week of June 9-15 saw a lot of trading, with the 10 most-active companies all trading over 7 million shares. The spot price for gold in the afternoon on June 15 in London closed at US$386.50, down US$5.85 from a week previously.
Vancouver — After spending US$3.5 million and drilling more than 100 holes on the Midway gold project in Nevada’s Nye Cty., Newmont Mining (NEM-N) has decided to call it quits.
In an effort to reduce France’s deficit, the French Central Bank is considering selling as much as 600 tonnes of gold reserves, or about 20% of its holdings.
Vancouver — Ivanhoe Mines (IVN-T) has resumed drilling on the Kharmagtai property, 120 km north of its Oyu Tolgoi (Turquoise Hill) copper-gold deposit in Mongolia.
Gold production is improving at Orvana Minerals‘s (ORV-T) Don Mario mine while exploration and development advances on the surrounding Don Mario property, 380 km east of Santa Cruz de la Sierra in eastern Bolivia.
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