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Dollar's Loss Is Gold's Gain

Junior company news

Western Copper and Gold (TSX:WRN) rose 10 percent on Monday after releasing a feasibility study on its Casino copper-gold project in the Canadian Yukon. The study recommends construction of an open-pit mine with a concentrator and heap-leach facility. Production would average 399,000 ounces of gold, 45 million pounds of copper, 15 million pounds of molybdenum and 1.8 million ounces of silver per year during the first four years of production.

Fighting in the Central African Republic has delayed plans by Canadian gold explorer Axmin (TSXV:AXM) to open its Passendro mine, Bloomberg reported. Axmin's CEO, George Roach, told the news outlet the mine will probably be delayed at least a year due to problems securing financing after rebels overran the mine site last month.

Shares in Eco Oro Minerals (TSX:EOM) scraped 52-week lows this week after the Colombian government announced it will create a wilderness park and prohibit mining where EOM is planning a silver-gold mine. Local authorities and environmental groups oppose the Angostura silver-gold project, located in the northeast of the country, believing the area to be the source of rivers supplying water to 2.2 million inhabitants, according to Reuters.

Golden Star Resources (TSX:GSC,AMEX:GSS) announced that it has received environmental and mining permits for the first phase of developing the Prestea underground mine in Ghana. "These permits allow the Company to commence initial development in the Central Shaft area in order to achieve early production and advance our infrastructure, with the long-term goal of transforming Prestea Underground into a modern, mechanized mine and a key contributor to lower cost gold production going forward," said Sam Coetzer, president and CEO.

 

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

Dollar's Loss is Gold's Gain from Gold Investing News

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