Alkane Resources (ASX:ALK) production from the Tomingley Gold Operations held steady during the June 2015 quarter, helping full year production to reach 69,612 ounces – which is within the annual guidance of 65,000 – 75,000 ounces.

Full year sales of 70,734 ounces provided revenues of $101.9 million at an average price of A$1,441/ounce, as at end of June 2015.

Cash flow for the June quarter after site operating expenses and development expenditure was negative A$0.5 million, but delivered an impressive positive $23.7 million for the full year.

Total operating costs for the year were higher than anticipated at A$1,249 an ounce.

Adding interest the recent fall in the Australian dollar has gold trading in excess of A$1500 an ounce during July, therefore providing an additional margin of up to A$100 an ounce for the start of FY16 over the average for FY15. Read full article

URUCUM UNDERGROUND UPDATE pdf download

FD1410
Lode 1 23 m @ 4.92 g/t including 5 m @ 20.32 g/t
Lode 2 5 m @ 2.76 g/t
FD1409
Lode 1 2 m @ 17.31 g/t gold Lode 2 20 m @ 2.00 g/t gold FD1406
Lode 1 25 m @ 2.29 g/t gold including 17 m @ 3.13 g/t gold
Lode 2 22 m @ 2.75 g/t gold including 18 m @ 3.25 g/t gold
FD1405
Lode 1 8.75 m @ 4.38 g/t gold including 5 m @ 6.7 g/t gold
Lode 11 12 m @ 4.81 g/t gold including 7 m @ 6.70 g/t gold

Beadell Resources Limited (“Beadell” or “the Company”) is pleased to announce significant new drill results from Urucum Underground at its 100% owned Tucano gold mine in Brazil (Figures 2 & 3, Table 1). Surface diamond drilling targeting Urucum Underground continues to intersect high grade results beneath the open pit reserve showing excellent continuity of the recently identified lode plunges. The drilling is targeting an initial underground reserve in the 200-400 m vertical area beneath the Urucum North open pit with a Pre-Feasibility to be completed by end of 2015. New results have been received from Lode 1 and Lode 2 which form two subparallel shear zones separated by approximately 10-20 m. Another parallel footwall lode was intersected in FD1405, Lode 11.

China is oversupplied with gold, according to one analysis — only the Chinese don’t seem to be in on this news.

Otherwise why would they be in the process of setting up what will be the world’s largest fund in terms of physical gold held, eventually to grow to $US16 billion ($20.9bn) worth of the yellow metal? Or indeed why would they have entered big deals over the past week to get a foothold in Papua New Guinea and Siberian gold production? Read more

The Silver Institute is pleased to announce that the April 2015 edition of Silver News is now available online. Please click the link below for the latest edition of Silver News:
https://www.silverinstitute.org/site/wp-content/uploads/2015/05/SNApr2015.pdf

The pdf contains:

• An Interview with Steve Higgins of the Royal Canadian Mint
• United States National Institute of Standards and Technology Makes Sure Scientists are on the Same Nanosilver Page
• EPA Response on Nanosilver Petition for Rulemaking Request
• Silver Jewelry Sales Rose in 2014, Offered Best Margins During Holiday Period
• Stay Healthy, Wear a Scough
• Silver Ink Makes Low Cost Agricultural Sensor Possible
• Tiny Battery May Help Implant Release Anti-Bacterial Silver Ions on Cue
• Static Electricity May Power Wearables
• Fogger With Silver Ion Formula Fights MRSA
• Upcoming Events

Currency Wars Back As Russia Buys Gold – One Million Ounces in March Alone
– Russia buys one million ounces and increases gold reserves by another 2.6% in March
– Russia sees gold as important monetary and strategic asset in stealth currency wars
– Large purchase by Russia who normally buy some 300,000 ounces
– Russian gold reserves, at nearly 40 million ounces, are now fifth largest in the world
– Russia likely coordinating gold reserve accumulation with Ex Soviet States
– Concerns re euro and of crisis in erstwhile reserve currency, the dollar
– Gold remains central to international monetary system
– Central banks continue to accumulate large volumes

Since 2005, Russia’s gold reserves have increased three-fold. As a comparison, in the second quarter of 2009, Russia only had 550 tonnes of gold in its official reserves meaning that their reserves have doubled in recent years.