Jan 10

Nevsun’s Fourth Quarter Operating Highlights

VANCOUVER, BRITISH COLUMBIA–(Marketwire -01/10/12)- Nevsun Resources Ltd. (TSX: NSU.TO – News)(AMEX: NSU.TO – News) –



--  101,000 ounces produced in Q4
--  379,000 ounces produced year-to-date
--  Cash balance US $347 million

Nevsun Resources Ltd. is pleased to announce strong production results of 101,000 ounces of gold for the quarter ending December 31, 2011. Year-to-date, the Bisha Mine in Eritrea has produced 379,000 ounces of gold, including 35,000 ounces during the commissioning phase early in 2011. Cash increased to US $347 million at December 31, 2011.


                          Q1 2011   Q2 2011   Q3 2011   Q4 2011    YTD 2011
Tonnes milled             461,000   444,000   446,000   455,000   1,806,000
Recovery, % of gold            88%       89%       88%       88%         88%
Gold ounces produced       75,000    93,000   110,000   101,000     379,000

The Bisha Mine continued to operate in excess of plan for gold recovery and maintained planned milling and gold production rates in Q4.

Cliff Davis, Nevsun CEO, commented, “2011 was a very successful year. We accomplished our objectives, achieving several key milestones, including successful start-up of the Bisha Mine, on time and under budget. I would like to congratulate the Bisha team for a strong performance, producing 379,000 ounces of gold in the first year of operations at Bisha. We look forward to 2012, with an increased focus on the copper phase development.”

Bisha started civil works in preparation for construction of the second phase copper plant in June 2011 and construction continues with ongoing civil work and equipment delivery. SENET, the EPCM contractor for the copper phase, and SEGEN Construction continue to ramp-up mobilization as the project will advance to steel work and equipment installation this year. The copper plant start-up is currently planned for the first half of 2013.

The 2011 development drill programs that are expected to significantly increase Bisha mineral reserves are complete and drilling has also commenced at the Northwest Zone, a mineralized area about 1.5 km from the existing Bisha Main pit. The updated reserve restatement, expected in late Q1, will include Harena, Bisha Main inferred infill and the Hanging Wall Copper Zone.

Nevsun plans to release its full 2011 annual financial results in connection with release of its Annual Information Form and other annual filing materials in late March.

Forward-Looking Statements: The above contains forward-looking statements regarding the Q4 operating highlights, release of 2011 annual financials, copper phase development and drilling program results. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimated”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those described in the Management Discussion and Analysis of the Company. The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.


Cliff T. Davis, President Chief Executive Officer

Jan 10

Bullfrog Gold Corp to Explore Nevada Project

GRAND JUNCTION, CO–(Marketwire -01/10/12)- Bullfrog Gold Corp (OTC.BB: BFGC.OB – News) (“Bullfrog” or the “Company”) is pleased to propose a comprehensive program for exploring its Bullfrog Gold Project located 3 miles west of Beatty and 120 miles NW of Las Vegas, Nevada.

Bullfrog’s management and expert consultants recently examined in detail all available geophysical, geochemical and drill data to specifically evaluate the potential extension of mineralization from Barrick’s Montgomery-Shoshone open pit mine onto the Company’s adjacent property. In-depth interviews were also conducted with the three key exploration managers who explored, developed and applied the detachment fault model and discovered 3 million ounces of gold while they were employed with St. Joe American, Lac Minerals and Barrick during 1983 through 2003.

The Company’s investigations indicate that the volcanic host units and structural features that formed the Montgomery-Shoshone ore deposit extend onto the Company’s adjacent property, which includes a patent and one lode mining claim that were never available to Barrick and its predecessors (see www.bullfroggold.com to view related land and geologic information). Bullfrog also owns another patent and 78 additional lode mining claims that were explored by Barrick and others, but not as comprehensive, integrated programs that included Bullfrog’s strategic land position next to the east wall of Barrick’s Montgomery-Shoshone pit.

The Company’s initial exploration program is estimated to cost $1.2 million and includes further data acquisition, database development, geologic mapping, environmental permitting, and drilling/coring 25 holes. Drilling is scheduled to start in late 2012 on the Company’s patent and claims next to the Montgomery-Shoshone pit wall, subject to receiving appropriate environmental approvals. Subsequent drilling will be based on the results of this phase one program, but will also expand onto other priority targets along structural trends on the Company’s properties.

The Montgomery-Shoshone deposit produced 90,000 ounces of gold from underground mining operations in the early 1900s and an additional 220,000 ounces of gold from Barrick’s open pit operations between 1989 and 2000. Barrick also produced 2.3 million ounces of gold from its Bullfrog open pit mine, which is less than 0.6 miles SW from the Montgomery-Shoshone pit and the Company’s property.

About Bullfrog Gold Corp.

Bullfrog Gold Corp. is a Delaware corporation that started trading on October 17, 2011. The Company acquired the Bullfrog and the Newsboy gold projects from several business transactions that were closed on September 30, 2011. The Company started drilling in November 2011 and plans to complete 90 more holes during 2012 on its Newsboy Gold Project located 45 miles NW of Phoenix, Arizona.

On behalf of the Board
David Beling
President, CEO Director

Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words “believes,” “expects,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated, including, among others: the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices and; risks of junior exploration and pre-production activities. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the SEC including the Current Report on Form 8-K/A, filed with the SEC on October 7, 2011. The Company assumes no obligation to update any of the information contained or referenced in this press release.

Jan 10

Timmins Gold Reports Record Production of 21,524 Gold Ounces in Final Quarter of 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire -01/10/12)- Timmins Gold Corp. (TSX: TMM.TO – News)(AMEX: TGD – News) is pleased to report preliminary production results for the Company’s third quarter and year ended December 31, 2011. The Company achieved record gold production of 21,524 gold ounces for the quarter, including a record month of 8,504 ounces of gold production for the month of December, 2011. The Company is pleased to report that the recovery ratio in December, 2011 was 76%. The recovery ratio for the period October 1, 2011 to December 31, 2011 was 65%, up from 55% in the same period last year. The recovery ratio is defined as the ratio of gold ounces produced divided by the number of contained gold ounces stacked over a specific period.


Category                                         Oct-Dec 2011   Oct-Dec 2010
Ore (Dry tonnes)                                    2,097,621      1,271,281
Ore tonnes placed on pads                           1,327,299      1,208,678
Average Grade (g/t Au)                                  0.778          0.939
Waste Mined                                         4,160,488      4,498,925
Total Mined (tonnes)                                6,258,109      5,770,206
Strip Ratio                                              1.98           3.54
Gold ounces produced                                   21,524         20,030
Gold ounces Sold                                       21,893         20,030
Days                                                       92             92
Average Ore Processed (t/d)                            14,427         13,137
Total Mined (t/d)                                      68,022         62,793

“The Company has focused on improving operational efficiencies and processes at the mine, and the production and sales results are reflected accordingly. The modifications to the mine have resulted in increased throughput and a significantly improved recovery ratio,” stated Mr. Bruce Bragagnolo, CEO of Timmins Gold Corp. “The Company continues to focus on organic resource and reserve growth at San Francisco and La Chicharra, and will follow up with an updated reserve and resource estimate in the first quarter of 2012 incorporating drill results from July, 2011 to December, 2011. The Company continues to realize current gold prices while generating strong operating cash flow on a quarter over quarter basis to internally fund all corporate initiatives.”

About Timmins Gold

Focused solely in Mexico, Timmins Gold Corp. is in commercial gold production at its wholly owned San Francisco gold mine in Sonora, Mexico. The mine is an open pit heap leach operation. Timmins Gold has forecast production at a rate in excess of 100,000 ounces of gold per year. (Micon International NI 43-101F1 Technical Report dated November, 2011).

Cautionary Note Regarding Mineral Reserve Estimates

Timmins is subject to the reporting requirements of the applicable Canadian securities laws, and as a result we report our mineral reserves according to Canadian standards. Canadian reporting requirements for disclosure of mineral properties are governed by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The definitions of NI 43-101 are adopted from those given by the Canadian Institute of Mining, Metallurgy and Petroleum. U.S. reporting requirements are governed by the SEC Industry Guide 7 (“Guide 7”). These reporting standards have similar goals in terms of conveying an appropriate level of confidence in the disclosures being reported, but embody different approaches and definitions. For example, under Industry Guide 7, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. In particular, we report “resources” in accordance with NI 43-101. While the terms “Mineral Resource,” “Measured Mineral Resource,” “Indicated Mineral Resource” and “Inferred Mineral Resource” are recognized and required by Canadian regulations, they are not defined terms under standards of the SEC and generally, U.S. companies are not permitted to report resources in documents filed with the SEC. As such, certain information contained in this press release concerning descriptions of mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC. In addition, an “Inferred Mineral Resource” has a great amount of uncertainty as to its existence and as to its economic and legal feasibility, and you cannot assume that all or any part of an “Inferred Mineral Resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. You are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into Mineral Reserves, and not to assume that all or any part of an “Inferred Mineral Resource” exists, or is economically or legally mineable. In addition, the definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” under CIM standards differ in certain respects from the standards of the SEC.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein may constitute forward-looking statements and are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.

In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release.

Jan 10

Oil Prices Lifted by Iranian Tensions Again

Oil prices soared in European session amid news the US is prepared to force to stop Iran’s nuclear development. Concerns over oil supply were exacerbated as Venezuela indicated that the OPEC should do nothing to offset the loss, if any, of oil output from the cartel member. China released its preliminary trade data for December. On the whole, import growth missed expectations as driven by earlier Chinese New year, slowdown in external demand which affected processing import growth and the sharp decline in commodity prices.

Tensions over Iran escalated as a former advisor of Obama’s National Security Council Dennis Ross said that the US President would not reluctant to use force to stop the nuclear-armed Iran from continuing development nuclear weapons. The comments followed US Defense Secretary Leon Panetta’s warning that the US ‘will not tolerate the blocking of the Straits of Hormuz…That’s another red line for us and that we will respond to them’. As we mentioned in previous articles, suspension of Iranian output or the block of the Strait of Hormuz would result in oil supply shortage in the near- to medium-term. While it’s expected that Saudi Arabia would increase production to replace any loss of Iranian oil, Venezuela does not seem to agree with that with oil minister Rafael Ramirez stating that ‘any Iranian action in defense of their sovereignty is Iran’s issue’ and ‘OPEC can’t get involved in this issue’.

China’s trade surplus widened to US$ 16.5B in December from US$ 14.5B a month ago. Exports grew +13.4% y/y, easing modestly from +13.8% in the prior month. Import growth fell to +11.8% in December from +22.1% in November. It also missed consensus of +18.0%. For 2011 as a whole, exports and imports expanded +20.3% and +24.9% respectively, down from +31.3% and +38.9% in 2010. Trade surplus narrowed to US$ 155.1B from US$ 184.5B in 2010.

As the second largest oil consumer, China’s net imports of crude oil fell to 5.1M bpd in December, down slightly from 5.51M bpd in November. From a year ago, net imports climbed +4.70%, easing greatly from 11.0% and +28.3% in November and October respectively. Net imports of oil products, including gasoline and diesel, soared to the highest level in 2011, however. Although investors may trade the weaker-than-expected import growth number as a negative sign of China’s economic growth, it may be driven by seasonal factor (Chinese New Year). Robust export growth should indicate to investors that demands from countries such as the Eurozone, the US and Japan were not as dismal as anticipated.

Jan 10

Gold & Silver Market Morning, January 10, 2012

Best Regards

Dec 18

Investitionsführer Gold (Europäische Ausgabe)

Published 19th December 2011


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Unter europäischen Anlegern hat die Geldanlage in Gold in den vergangenen Jahren einen dramatischen Wandel durchlaufen. Sowohl die Nachfrage nach Barren und Münzen als auch die nach Gold-ETFs hat deutlich angezogen. Ursprünglich war dies ein Ausdruck einer „Flucht in Qualität“ im Zuge der Finanzkrise und ihrer Folgen. Doch die Rückkehr europäischer Anleger zu Gold hat sich als dauerhaft erwiesen, da die Qualitäten von Gold als Inflationsschutz, als Risikodiversifikator und als Wertspeicher immer mehr erkannt werden.

Dec 18

An investor’s guide to the gold market (European edition)

Published 19th December 2011


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Gold investment among European investors has undergone a dramatic shift over recent years. Demand both for gold bars and coins and gold ETFs has experienced remarkable growth, initially reflecting a ‘flight to quality’ prompted by the credit crunch and its aftermath. However, the return to gold by European investors has proved resilient as gold’s properties as an inflation hedge, a risk diversifier and a store of wealth are increasingly acknowledged.

Nov 22

European Commission Green Paper on Stability Bonds

Published 23rd November 2011

Reserve asset management

Download (pdf, 242.04 KB)

Nov 15

Jason Toussaint rings the NYSE Closing Bell

Published 16th November 2011


Oct 31

The evolving structure of gold demand and supply

Published 1st November 2011

Supply and demand, Investment

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A snapshot from the start of each decade since 1970 reveals that gold market fundamentals have experienced dramatic change. We discuss the drivers for and the implications of these changes.