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Gold Slips Back After Fiscal Cliff Euphoria

Perseus Mining (ASX:PRU) has revised down its quarterly gold production forecast for its Edikan gold mine in Ghana. The Perth-based company said production for the December 2012 quarter is now estimated at 49,000 ounces, compared to an earlier prediction of 58,500 oz. The shortfall is due to low crusher output, Perseus stated.

Junior company news

Rainbow Resources (TSXV:RBW,OTCQX:RIINF) announced that it intersected high-grade silver and gold mineralization near-surface at its Gold Viking property in British Columbia. "Drill hole GV-12-04 intersected 0.51 oz/ton Au and a preliminary silver value of 1.9 oz/ton over 6.2 feet between a depth of 15.4 and 21.6 feet. One sample in the interval returned an over-limit silver grade (>2.9 oz/ton)," Rainbow said in a press release Wednesday.

SLAM Exploration (TSXV:SXL,OTCBB:SLMF) reported drilling results for nine additional holes at its Menneval gold project in New Brunswick, Canada. The company uncovered bonanza-grade assays as it traced the vein system over a 700-meter strike length.

 

Securities Disclosure: I, Andrew Topf, hold an equity position in Goldcorp.

Related reading: 

The Fiscal Cliff and Beyond: Investment Experts Weigh In

Gold Slips Back After Fiscal Cliff Euphoria from Gold Investing News

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