Gold Mineweb Daily News -November 14, 2012-: Diwali gold sales surge but, rural buying slumps

$1,723.58 $32.50

TOP STORIES | Wednesday , 14 Nov 2012                                                      Diwali gold sales surge but, rural buying slumps The sale of gold in India’s metros over Diwali touches new high, with 6,500 kilos of gold sold in one day - Dhanteras (Sunday) as demand veers from jewellery to investment.    Wednesday , 14 Nov 2012 Big gold companies need to get their act together - Ecclestone Chris Ecclestone says that a number of the big gold companies are dealing with cost bloat and production disappointments.    Wednesday , 14 Nov 2012 Gold dips as investors focus on U.S. fiscal woes The gold price fell to $1,722.91/oz on Wednesday, as market talk was dominated by theories on how the U.S. can avoid a crushing fiscal crisis, while platinum rose on supply concerns.    Wednesday , 14 Nov 2012 Silver prices may climb as much as 38% in 2013 - GFMS Global head of metals analytics, Philip Klapwijk, says silver prices may rise as much as 38% next year from current levels as a weak global economy spurs safe-haven demand for the metal.    Wednesday , 14 Nov 2012 Iamgold warns of lower gold production in 2012 and 2013 Iamgold’s adjusted EPS of 16-cents per share for 3Q did not meet analysts’ expectations of 24-cents to 25-cente per share.    Wednesday , 14 Nov 2012 McEwen Mining capitulates over Los Azules back-in right If it covers twice its share of past pro-rata exploration costs, TNR Gold can earn a 25% interest in northern claims covering the Los Azules copper deposit.    Wednesday , 14 Nov 2012 Nautilus cancels underwater equipment construction on flagship Solwara project No longer willing to foot the Papua New Guinea government's bill, Nautilus says it will terminate contracts with equipment suppliers.    Tuesday , 13 Nov 2012 Centamin Q3 profit up as Egypt mine ops continue as normal The gold miner posted a 22% increase in quarterly earnings, adding operations continue as normal at its Sukari mine despite a court battle over its mining rights.    Wednesday , 14 Nov 2012

COMPANY RELEASES                                                      Orinoco Provides Drilling Update for Curral de Pedra Gold Project IAMGOLD Reports Operating & Financial Results for Third Quarter 2012 Gil Leathley to Retire As Chief Operating Officer of NOVAGOLD Lake Victoria Retracts Kinyambwiga Conceptual Estimates Vendome Releases NI 43-101 Report for the Company's Mexico Properties Drilling Underway at Strongbow's Shovelnose Gold Property Tanzanian Royalty Announces Results from Eastern Porphyry IMPACT Silver Announces Q3 2012 Financial and Production Results Mesa Exploration Acquires Gold and Silver Projects Northern Vertex Announces $7.5 Million Non-Brokered Private Financing La Mancha Announces Completion of Compulsory Acquisition by Weather II Renaissance Announces New Gold/Silver Sample Results from El Monte Project Alturas Reports Formal Registration of the Marilin and Quispe Agreements