Mining Companies Exploration and Investment News

Bullion Monarch Mining Inc., a precious metals royalty and resource development company based in the United States, is pleased to again announce record quarterly revenue of $1,501,769 for the company’s third quarter ended January 31, 2010. This substantial boost in revenue is the result of increased production both in grade and volume by Newmont Mining in the prolific Northeast Nevada Carlin Trend. This represents a year over year quarterly revenue increase of approximately 49% and quarterly earnings of about USD $0.01 per share.

Newmont Mining’s declaration of increased exploration and development in areas where Bullion Monarch Mining holds royalty interests, confirms the company’s internal position of growing royalty revenues from the area over the long term. (continue reading…)

Gold prices, little changed in New York today, may decline for a fourth day after China’s inflation and industrial output accelerated, adding pressure on the government to pare stimulus measures.

China’s inflation reached a 16-month high and production increased the most in more than five years. Bullion climbed 24 percent last year as central banks maintained low interest rates and spent trillions to stimulate economies. Gold prices dropped the most in a month yesterday on speculation demand for the metal will slow as the Greek financial crisis eases.
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Goldcorp Inc. today reported gold production of 601,300 ounces at a total cash cost(1) of $289 per ounce for the quarter ended December 31, 2009. Fourth quarter adjusted net earnings(2) amounted to $182.7 million, or $0.25 per share, and operating cash flows before working capital changes(3) for the fourth quarter was $307.6 million or $0.42 per share. For the year, Goldcorp produced 2.42 million ounces of gold at a total cash cost of $295 per ounce, generating adjusted net earnings of $588.2 million or $0.80 per share and operating cash flows before working capital changes of $1.2 billion or $1.61 per share.
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Australian gold output rose 14 percent in the fourth quarter last year, helped by Newmont Mining Corp.’s Boddington mine, confirming the country as the world’s second-biggest producer, a research group said.

Gold production in Australia rose to 62 metric tons during the three months to Dec. 31, Melbourne-based Surbiton Associates Pty said in an e-mailed statement. (continue reading…)

Shares of gold and copper exploration companies are the most likely to shine in the Canadian junior mining sector this year, as large miners raise their exploration budgets and scout for promising projects.

Small-cap stocks on the TSX Venture exchange enjoyed a strong run last year with the S&P/TSX Venture Composite Index gaining more than 90 percent through the course of the year.
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BlackRock-managed Global Mining Investments Ltd has a preference for copper, gold and iron ore as China leads a global recovery in commodities markets but is negative on aluminium because of oversupply, the firm’s chief said on Tuesday. (continue reading…)

Asian stocks fell as China’s Industrial Bank Co. predicted slower growth in new lending, while the euro retreated on speculation the European Central Bank will delay withdrawing stimulus measures.

The MSCI Asia Pacific Index dropped 0.7 percent to 119.97 as of 5:10 p.m. in Tokyo, after a four-day, 3.3 percent climb. (continue reading…)

The gold price hovered near unchanged, consolidating after its recent five day winning streak that pushed the price of gold well above the $1,100 level it had been trading near for the past six weeks. The rally in the gold price has provided a tailwind to the gold stocks, which have also moved higher for five consecutive trading sessions. (continue reading…)