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Everything posted by sigmadelta

  1. The Krone's downfall happened in February and was caused by : first : an increase in interest rates to a high level which second : sucked the carry trade in and finally : when the icelandic economy was downgraded they all tried to rush for the exit I don't think it had much connection with the stock tumble in May, though it was all getting a bit hairy by then. I do agree about the risk of countries which have a high interest rate, in an inflationary world. Cheers, Pete
  2. More in the vein of foreign miners in China http://www.china.org.cn/english/BAT/189158.htm China will fully open its gold market but on a gradual basis to foreign investors, an industrial insider said on Wednesday...
  3. Resource Investor article: "Foreign Gold Miners Could Be Set to Prosper in the Red East" including a reference to a recent note by Gold Letter International Includes one of mine, Central China Goldfields. Unsurprisingly, there are lots of Canadians on the list.
  4. I know a few here may be interested in this. Molyhil production upgrade (sorry about the crap formatting) 25th October 2006 • Metallurgical test work program successfully completed as part of Definitive Feasibility Study on the Molyhil Tungsten-Molybdenum Project. • Production estimates and concentrate specifications exceed initial Scoping Study, confirming potential production of approximately 100,000 mtu of tungsten oxide per annum and 1,000,000 lbs of Mo per annum. • Project water supply confirmed. Thor Mining (AIM & ASX: THR) today announced completion of the key metallurgical test work phase of the Definitive Feasibility Study for its 100%-owned Molyhil Tungsten-Molybdenum Project in the Northern Territory of Australia. The delivery of final concentrate specifications from this test work program will enable it to progress negotiations for an off-take agreement and financing package for the Project. Thor is well advanced with the Definitive Feasibility Study, which is scheduled to be completed by mid-November 2006. The Company intends to accelerate development of the Molyhil Project with a view to commencing production during 2007. The key metallurgical test work program carried out over the past 6 months has been supervised by Thor and Proteus Engineering, with the involvement of metallurgical consultants, Independent Metallurgical Laboratories Pty Ltd, Orway Mineral Consultants and Nagrom & Co. The metallurgical recoveries used in the Scoping Study for WO3 and MoS2 were based on pilot plant test work conducted by Nagrom in early 2005. The definitive metallurgical results received this week have improved the Scoping Study figures, as reflected in the table below: Scoping Study (Jan2006) Definitive Feasibility Study (Oct2006) Concentrates Recovery Concentrate Grade Recovery Concentrate Grade Concentrate Production @ 300,000 tpa Tungsten (WO2) 51% 68.6% 67.2% 69.3% 1,511 tonnes Molybdenum (MoS2) 78.1% 82.5% 77% 85% 905 tonnes HIGHLIGHTS Molyhil Upgraded Following Completion of Metallurgical Testwork This equates to planned production of approximately 100,000 mtu of tungsten oxide per annum and 1,000,000 lbs of Mo per annum. Current prices for Tungsten Oxide concentrates (min 65% WO3) are USD$220mtu and the price for Molybdenum concentrates (min 57% Mo) is USD$26lb. The most significant change arising from the metallurgical test work program is in the recovery of Tungsten to the gravity circuit. The initial flowsheet used magnetic separation prior to flotation and gravity recovery, however this procedure is now completed at the end of the processing circuit on the finer Tungsten fractions, removing deleterious elements and improving overall recovery. The concentrate grade specifications are within a marketable range, and improvements in the molybdenum specifications were made with the removal of between 2 and 4% copper in concentrates, with copper levels now within specification. Recent results from investigative hydrogeological drilling has identified an adequate supply of excellent quality water for the project, with six out of the eight locations successful in identifying substantial aquifers. The Molyhil Definitive Feasibility Study is progressing well with the processing plant, infrastructure and mine development capital estimates due within a few weeks Thor’s Chief Executive Officer, Mr John A. Young, said: “The completion of the metallurgical test work program is an important step in the progress of our off-take agreement, with a number of interested parties waiting for these final concentrate specifications. Marketing and negotiations can now begin with the aim of securing both a buyer and a finance package that will enable development of the Molyhil Project to be fast-tracked.”
  5. sigmadelta

    Gold: the Bull's thread

    Homestake: But on the whole, the city and its residents prospered as a result of the mine. In the early 1930s, as the rest of the nation suffered economic hardship throughout the Great Depression, the management of Homestake set a shorter work week with an increase in wages, and provided end of year bonuses to workers. http://www.homestaketour.com/history.html
  6. Fascinating, but... ...they should do a reprint! - Amazon are asking over $100 a copy. Makes me think perhaps e-books are a good idea! Thanks for the notes on juniors Dr B, all good stuff.
  7. The silver seek forum has some interesting commentary. They got the information a few days before Barclays announced it. http://forums.silverseek.com/viewforum.php...f503556f8221d5c Cheers! Pete
  8. sigmadelta

    Gold: the Bull's thread

    It's the rate of growth over time of money supply falling, not the money supply itself. So it is growing, but not as fast as before. But one could argue that if the rate of growth of money supply is above the growth in, say, output then it is still inflationary.
  9. I came across this recently, which has some interesting first hand comments on the oil market http://uk.theoildrum.com/story/2006/8/13/71557/8571
  10. sigmadelta

    Uranium: Price is booming

    I have one inside source on this, and it seems to have been received well by potential placees. There is a very bullish forecast on the uranium supply/demand curve over the next decade.