Gold miners Rubicon Minerals (AMEX:RBY), Exeter Resource Corp. (AMEX:XRA), Yamana Gold, Inc. (NYSE:AUY) and Northern Dynasty (AMEX:NAK) surged on Tuesday as gold prices rose to $1,455.50 an ounce to reach a record high.
Gold for June delivery was up $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.
Continuing unrest in the Middle East, the EU sovereign debt crisis, Japan's struggle and political uncertainty in the United States is the major impetus behind the action.
The inevitability that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a major part of the continuing rise in gold prices.
Rubicon Minerals closed Tuesday at $5.51, gaining $0.35, or 6.78 percent. Exeter Resource Corp. closed at $5.47, rising $0.32, or 6.21 percent. Yamana Gold, Inc. closed at $12.96, up $0.63, or 5.11 percent. Northern Dynasty ended the session at $15.74, increasing $0.39, or 2.54 percent.
Showing posts with label Exeter Resource. Show all posts
Showing posts with label Exeter Resource. Show all posts
Wednesday, April 6, 2011
Thursday, December 2, 2010
Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU), Northgate Minerals (AMEX:NXG) Soar on China Gold Imports
Gold prices today were soaring before noon as news from the Shanghai Gold Exchange that China had acquired 209 metric tons of the yellow metal through October caused gold miners like Exeter (AMEX:XRA), Gammon (NYSE:GRS), Nevsun (AMEX:NSU) and Northgate Minerals (AMEX:NXG) soar in share price.
To contrast this, China only acquired 45 tons of gold for all of 2009, showing they are protecting their assets in the midst of a weak currency environment; particularly against inflation.
Gold fell down to earth after noon, as is a common event for the precious metal, which was closing in on $1,400 an ounce before plummeting.
No matter. Gold prices will continue to rise for some time, and are at this time looking for an excuse to make a big move again, although speculators will continue to make it a volatile ride on the way up.
Exeter was trading at $5.92, up by $0.37, or 6.67 percent as of 1:05 PM EST. Gammon was at $7.15, gaining $0.33, or 4.84 percent. Nevsun rose to $6.23, increasing $0.25, or 4.19 percent. Northgate was trading at $3.08, up $0.11, or 3.70 percent.
To contrast this, China only acquired 45 tons of gold for all of 2009, showing they are protecting their assets in the midst of a weak currency environment; particularly against inflation.
Gold fell down to earth after noon, as is a common event for the precious metal, which was closing in on $1,400 an ounce before plummeting.
No matter. Gold prices will continue to rise for some time, and are at this time looking for an excuse to make a big move again, although speculators will continue to make it a volatile ride on the way up.
Exeter was trading at $5.92, up by $0.37, or 6.67 percent as of 1:05 PM EST. Gammon was at $7.15, gaining $0.33, or 4.84 percent. Nevsun rose to $6.23, increasing $0.25, or 4.19 percent. Northgate was trading at $3.08, up $0.11, or 3.70 percent.
Thursday, April 22, 2010
Exeter Resource's (TSX:XRC) Extorre (TSX:XG) Exciting Investors
It hasn't taken long for Exeter Resource's (TSX:XRC) (AMEX:XRA) spin-off of what has become Extorre Gold (TSX:XG) to get investors excited, as the latest resource estimate of Extorre has them reaching over 1 million ounces as exploration continues at their Cerro Moro project.
Exeter recently spun off Extorre Gold in order to focus on their Caspiche gold/copper project in Chile, so a new management team could solely concentrate on the Argentina of Extorre's.
Exeter itself has also updated their Caspiche project and now there are over 30 million ounces of gold and gold equivalents there, along with significant copper deposits.
Caspiche is among the largest undeveloped copper-gold projects in the world.
President and CEO of Extorre, Eric Roth, said the latest update at Cerro Moro raises their "our resource objective ... to 2 million ounces gold equivalent."
Exeter recently spun off Extorre Gold in order to focus on their Caspiche gold/copper project in Chile, so a new management team could solely concentrate on the Argentina of Extorre's.
Exeter itself has also updated their Caspiche project and now there are over 30 million ounces of gold and gold equivalents there, along with significant copper deposits.
Caspiche is among the largest undeveloped copper-gold projects in the world.
President and CEO of Extorre, Eric Roth, said the latest update at Cerro Moro raises their "our resource objective ... to 2 million ounces gold equivalent."
Wednesday, April 7, 2010
Exeter Resource (TSE:XRC) Looking for Buyers
Exeter Resource
Exeter Resource (TSE:XRC) has reportedly attracted significant interest in selling the company and its Caspiche gold-copper-silver project in Chile.
Along with some interest from the Chinese, other major gold companies interested are Newmont (NYSE:NEM), Barrick (TSE:ABX) and Kinross (TSE:K).
It could be a very good deal for either Kinross or Barrick, as they already have operations within 10 to 15 kilometers of the site.
To set up the sale of the company, Exeter spun off its Cerro Moro project - which produced gold and silver - into a new company.
The Caspiche project is a gold-copper porphyry system, which means it has similarities to some of the largest gold-copper mines in the world, which is a very attractive asset, which should ensure a sale sometime in the near future, with executives at Exeter thinking it could be sold by the end of the year.
Exeter Resource (TSE:XRC) has reportedly attracted significant interest in selling the company and its Caspiche gold-copper-silver project in Chile.
Along with some interest from the Chinese, other major gold companies interested are Newmont (NYSE:NEM), Barrick (TSE:ABX) and Kinross (TSE:K).
It could be a very good deal for either Kinross or Barrick, as they already have operations within 10 to 15 kilometers of the site.
To set up the sale of the company, Exeter spun off its Cerro Moro project - which produced gold and silver - into a new company.
The Caspiche project is a gold-copper porphyry system, which means it has similarities to some of the largest gold-copper mines in the world, which is a very attractive asset, which should ensure a sale sometime in the near future, with executives at Exeter thinking it could be sold by the end of the year.
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