Gold Mining battle of Vizcaya gets backing

Oceanagold Corp. Dipidio Mine International and local environmentalists and local residents on Tuesday urged the provincial government of Nueva Vizcaya to take a stronger stance and pass a resolution declaring a moratorium on large-scale mining in the province.Delegates of the International Solidarity Mission, which conducted a fact-finding mission in Kasibu town where New Zealand firm OceanaGold Corp. has mining interests, said it was already proven that mining does not bring economic benefits to the community and instead brings hardship and disunity among the tribes.The group also recommended to assess the damage the mining activities have...

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Gold, Platinum Drop on Concern Recession May Lessen Demand on Metal

Gold futures fell on speculation a global recession will damp demand for precious metals and other raw materials. Platinum and silver also declined. Equities in Asia, Europe and the U.S. fell today. More than $28 trillion in value has been erased from global equity markets this year as banks have posted more than $920 billion in credit losses and writedowns. The Reuters/Jefferies CRB Index of 19 raw materials is down by almost a third this year. ``We're back to focusing on the recession,'' said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois. ``You're seeing a bear market in everything....

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High-grade gold, silver found in S. Cotabato

A Canadian mining exploration company has found high-grade gold and silver deposits at a mining site in T’boli, South Cotabato.Cadan Resources Corp., which operates the Tboli gold-silver project through Philippine affiliate Tribal Mining Corp., said the mine site might contain 584,000 tons of mineral deposits with 10.2 grams of gold and 50 grams of silver per ton.In September, the company estimated mineral resources at the site at 420,000 ounces of gold and 1.6 million ounces of silver. It pegged the grade at 5.5 grams of gold and 21 grams of silver per ton."The latest higher grade results continue to indicate that the Tboli gold-silver resource...

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Bullion Report: Gold Parties Instead Of Tupperware Parties

On a quiet, tree-lined street in this upscale Chicago suburb, a gaggle of women noshed and drank wine as they waited their turn to have their once-fashionable gold rope chains and unmatched earrings scrutinized under a magnification loupe, poked at by a gold tester and even put through an acid test. Say good-bye to Tupperware and hello to gold.This was a gold party, and some of the women walked away with wads of cash in exchange for what they considered junk, unlike other neighborhood parties where they write out checks for plastic salad spinners or skincare and cosmetics. Debbie Johnson was handed $1,600 after she turned in broken gold chains, earrings without pairs and the wedding bands from a marriage gone sour more than two decades ago. ...

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Philippine Bullion Report: Demand in Gold and Silver Coins up

The "doom and gloom" predictions of many respected economic analysts caused a surge in demand for bullion coins. Even though the precious metal futures show that the figure is fluctuating. Some mints have already suspended selling their inventories, including the bullion coins from the United States.Basically, bullion coins have been proven effective as a street smart safe haven investment against inflation. The collapse of some of the bright economies around the globe triggered a panic buying that some people have already diverted their cash to solid investments such as bullion coins.Meanwhile in Europe, retirees instead of waiting for...

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GOLD & SILVER PRICES SOAR

The soaring prices of oil, food, and major commodities these days has a tremendous effect on the stocks of available silver and gold coins in the market. Prices have increased tremendously over the past few days since the reported major bank failures these past few weeks, as the INDYMAC BANK of California succumbed to bankruptcy after its shares went down, and the U.S. Treasury giving a warning that about an estimated 90 banks are on list that might suffer the same fate.Gold climbed to more or less than $15 a day, signaling that the escalation would either match or surpass the record held last March. Today, Gold is steady at $970 while silver...

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