Gold medallion for high-speed Wi-Fi pioneer
October 31, 2009 by goldguru · Leave a Comment
One of the pioneers of high-speed wireless networks has been awarded a gold medallion and lapel pin along with A$300,000 (£164,980) in recognition of his work by Australian prime minister Kevin Rudd.
Astronomer, physicist and "self-proclaimed nerd" Dr John O’Sullivan and his team from the Australian Commonwealth Scientific and Research Organization (CSIRO) beat 22 international labs to solving the problem of interference caused by reflected radio waves slowing down wireless networks in 1992.
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Randgold and AngloGold to buy further 20% stake in Moto gold mine
October 31, 2009 by goldguru · Leave a Comment
Only a couple of weeks after completing the acquisition of 70% of the big Moto gold project in the DRC, Randgold Resources and AngloGold Ashanti are to take on a further 20% of the project from state gold mining company OKIMO.
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Bulls and bears in gold tug-of-war
October 31, 2009 by goldguru · Leave a Comment
The gold price has been remarkably resilient after its rapid run up through to the $1,060 level with strong resistance to falling much below the $1,040 level despite some persistent selling pressures.
Finders completes DFS on Wetar copper and ups drilling at Ojolali gold-silver projects
October 31, 2009 by goldguru · Leave a Comment
Finders Resources September quarter sees completion of two capital raisings and progress at the Wetar copper and at the Ojolali gold/silver projects
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Norilsk – cuts nickel forecast for 2009 but raises platinum and palladium
October 31, 2009 by goldguru · Leave a Comment
Mixed results from the world’s largest nickel and palladium miner sees 2009 output forecasts cut for the former but raised for pgms
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Roubini Sees Market Crash All Over the World
October 30, 2009 by goldguru · Leave a Comment
The Daily Reckoning
New York University Professor Nouriel Roubini, who recently saw the recovery as “U-shaped,” is now concerned a dollar rebound will cause global markets to crash.
His main concern is the carry trade in the US dollar. The dollar is being borrowed at near-zero interest rates to then be invested into a wide array of now-popular assets including gold, commodities, equities, credit, and emerging markets. There are simply more dollars available in the system that are chasing the same types of things.
The risk is that the source of capital gain in these asset classes is simply due to the falling dollar, and is little more than a type of inflation. Because of this when the dollar strengthens he says, “you could have a market crash all over the world.”
More of Roubini’s latest words appear in Newsmax coverage of global markets crashing.
Roubini Sees Market Crash All Over the World originally appeared in the Daily Reckoning. The Daily Reckoning, a FREE daily e-letter, offers a “uniquely refreshing” perspective on the global economy, investing, and today’s markets.
More articles from The Daily Reckoning….
Investment Check-list for Precious Metals Miners: part II
October 30, 2009 by goldguru · Leave a Comment
In Part I, I introduced readers to the different categories of miners, and outlined some of the basic characteristics which these companies possess. In the second part, I will provide some guidance on what to look for in separating the “contenders” from the “pretenders”.
Naturally, the starting-point in looking at the quality of any mining company is the quality and quantity of ore in their property(s). The quality or “grade” of the ore will go a long way in telling us about the profitability of a miner (or the potential profitability of an exploration company).
For gold miners, the starting point would be to look at ore with 1 gram of gold per ton of ore. That’s right, ore with as little as 1 gram/ton is potentially rich enough to support commercial mining. Of course, with this low level of concentration of gold, it will generally require both vast tonnages and favorable geology for ore of such a low grade to support commercial mining operations. Generally speaking, what exploration companies are looking for is ore with several grams of gold per ton.
As stated, grade alone is never the sole determinant on whether a particular ore-body is commercially viable. What companies looking for gold (and mining gold) need to see is enough tons of such ore to justify all the preliminary drilling, the resource estimate, the feasibility study, and ultimately the construction (and operation) of a mine.
Even when looking at the quantity of gold in an ore-body, tonnages alone do not tell the whole story. Companies drilling for gold sometimes go down a mile or even further beneath the ground. What companies (and investors) want to see is for the quantities of gold in these ore-bodies to be compressed within a relatively narrow range of depth.
For example, let’s suppose that two companies have identical grades and tonnages of gold in their properties. The “veins” of gold for Company A start at 50 feet below the surface, but continue all the way down to 5,000 feet below the surface. With Company B, on the other hand, the gold doesn’t start until 200 feet beneath the surface, but the mineralization only goes down 1,000 feet.
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Recession Over; Depression Begins
October 30, 2009 by goldguru · Leave a Comment
Bullion Vault
The ugly truth about the West’s balance-sheet recession…
THE BIG STORY in markets everywhere today is that US GDP number, reports Dan Denning for the Daily Reckoning Australia in Melbourne.
It was up 3.5% in the third quarter, annualized, according to the US Ministry of Commerce. We predict that everyone is going to use it to claim that the recovery is upon us and that stock markets did not get too far ahead of themselves after all. That’s just what happened overnight in the States. And stocks rallied smartly.
Don’t believe the hype is our advice. The big problems in the economy – too much debt, too much leverage, too much government – are still there. They didn’t go anywhere overnight. We’d suggest that getting sucked back into stocks now because of the US GDP figure is a very bad idea.
Of course we could be wrong. Maybe stocks will go up another 20% from here. Or 30%. Or 50%. But it’s not likely. It’s more likely that the recession is over, and that the Depression has just begun.
Depression has begun, we think, because what the US GDP numbers actually show is a private sector in full retreat. Its income is shrinking, its assets fallen in value, and the cost of servicing debt is rising. Into that terrible breach steps the public sector (i.e. the taxpayer), armed with an arsenal of inefficient and stupid programs that give the illusion of economic activity but actually prevent the economy from liquidating excess capacity and bad debt – the two conditions required for a real recovery.
So we’re sorry to have to ruin your weekend, but the US GDP rebound is not as benign as you might think. Just the opposite really.
Gold & Ultra Easy Money
October 30, 2009 by goldguru · Leave a Comment
Bullion Vault
As go commodity and Gold Prices, so goes the direction of Producer Price Inflation…
OPERATING under the influence of ultra-low interest rates and flush with trillions of fiat currency at their disposal, hedge funds and banking oligarchs are once again making risky and daring bets in commodities, emerging markets, junk bonds, and blue-chip stocks, writes Gary Dorsch of Global Money Trends.
Courtesy of the world’s central bankers, they’re defying gravity with trades that would have been un-thinkable just six-months ago.
The “Group-of-20″ major economies have now committed $12 trillion of taxpayer money to engineering this 180-degree turnaround in trader psychology, equivalent to a fifth of the entire globe’s annual economic output. The euphoric illusion of V-shaped recoveries has taken us from the chronic fear of meltdowns last year to the opposite side of the spectrum.
The G-20′s largesse has been used to fund capital injections into banks, soaking-up toxic assets, guaranteeing financial company debt, and flooding the world credit and stock markets with ultra-cheap liquidity.
On Sept 20th, the G-20 nations – which account for 90% of the world’s output – agreed it was too soon to begin withdrawing the $5 trillion of surplus cash that’s been injected into world money markets. The IMF estimates that banks in Britain, the Eurozone, and the United States have recognized slightly less than half of the $3.4 trillion of bad loans sitting on their books, and are still struggling to absorb heavy losses primarily from failing US mortgage loans.
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What’s Your Exposure?
October 30, 2009 by goldguru · Leave a Comment
Bullion Vault
Just holding cash still leaves you exposed to financial and inflation risk…
IT’S A WELL-KNOWN TRUISM that every investor needs to start with savings,writes David Morgan of Silver-Investor.com. But what if those “savings” give the investor too much exposure to risk?
What investors or people in general need in this financial environment is savings that don’t deteriorate. We are in an environment now where the idea of making money, which is kind of the preamble to being American, is going away. In other words, in today’s environment, he who loses the least wins, and the way that you do that is to hold savings that don’t devalue over time.
There really are only two currencies able to do this – Gold and silver.
I remember starting my quest in silver in the mid 1960s. Silver was the coin of the realm here in America, through 1964. Then in 1965, coins were minted but they did not contain silver. (Just to be accurate about this, there were some exceptions with the 50-cent piece.)
The futures market back in the late ’60s and early ’70s had two silver markets, actually. There was the Bullion market that we still have, and there was also a coin bag market. The bag market consisted of “junk silver” as it was referred to, which is US coinage that is 90% silver.
And I remember people asking questions such as, how can you make money by buying money?
In other words, the link between the Dollar and silver had been cut, but people didn’t even understand it, because it hadn’t drifted that far – they didn’t get it. Paper money, silver money, what the heck is the difference?
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