Weekly Round-Up: Gold, Silver Boosted by US Labor Market Data

Weekly Round-Up: Gold, Silver Boosted by US Labor Market Data

While some investors have been expecting activities in Greece to boost precious metals prices, in reality there has been little reaction. However, US labor market did provide gold and silver with boosts on Friday.

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Nexus Gold CEO Peter Berdusco on ‘Elephant Hunting’ in Nevada

Gold – Peter Berdusco of Nexus Gold recently spoke with INN about Nexus' Walker Ridge project in Nevada and what the company has been up to lately. According to the CEO, Nexus is looking for a Carlin-style deposit within the Independence/Jerritt Canyon Gold Trend in Northeastern Nevada.

Brian Robertson of Source Exploration: ‘Drilling Towards NI 43-101 Resource’

Gold – Brian Robertson, president and CEO of Source Exploration, discusses his company's Las Minas project and what it is like working in Mexico. "What we have at Source is a company that has been very successful in a number of areas. We have raised over $2 million in a very difficult junior resource market, we have drilled 4,000 meters, we have excellent people within the company and it is those companies with those attributes that will survive," he said.

Company News

Alamos and AuRico Announce Completion of Merger

Gold – Alamos Gold Inc. (TSX:AGI,NYSE:AGI) and AuRico Metals Inc. (TSX:AMI) announced the completion of the previously announced arrangement to merge and form the new Alamos.

Calibre Mining Reports Initial Results from Phase I Drilling Program at Montes de Oro Gold Project

Calibre Mining Reports Initial Results from Phase I Drilling Program at Montes de Oro Gold Project

Gold – Calibre Mining Corp. (TSXV:CXB) announced the results for the first four holes of 11 planned drill holes from the 2015 diamond drilling program at its Montes de Oro gold project in Nicaragua. The drilling program is projected to consist of 2,500 meters in 11 drill holes with nine holes totaling 1,958 meters completed to date and assays being received for four drill holes.

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Company Videos

Quaterra Resources CEO Steven Dischler Talks Plans for Yerington and Bear Deposits in Nevada

Copper – Quaterra Resources (TSXV:QTA,OTCMKTS:QTRRF,FWB:QR2) President & CEO Steven Dischler spoke to the Investing News Network about the Yerington, Nevada copper projects. He says that investors should watch out for the following catalysts in 2015, "We're going to be commencing drilling on the Bear Deposit, which is a known mineralized area in our district. It's a very large system, has historic drilling in it, and part of a big district. We want to begin drilling in the third quarter of this year - July or August - shortly. We're also doing some exploratory geophysical work on our ground there. We'd be presenting our drill results as we get them, through next year, and then lastly, we want to finish the sale of our Nieves Silver Project in Mexico. We entered into an agreement back in December of 2014 for the sale of that and the payments are coming in over the next 12 months."

Foran Mining CEO Patrick Soares Provides an Update on 2015 Catalysts

Zinc – Foran Mining Corporation (TSXV:FOM) CEO Patrick Soares provided an update on the Company's milestones and catalysts for the remainder of 2015. Mr. Soares reported, "Having completed a PEA at McIlvenna Bay, we saw the opportunity to do what we've been telling other people. We believe that the Hanson Lake Camp where McIlvenna Bay is located - we've got a lot of property there - and we believe, like Flin Flon itself, that this is a mining camp."

Highbank Resources’ Greg Shafransky Talks Sand and Gravel Production in BC

Highbank Resources Ltd. (TSXV:HBK) IR Consultant, Greg Shafransky, provided an update on milestones achieved in 2015, and plans moving forward. The Swamp Point North Aggregate Project is now fully commissioned, with delivery of its first commercial shipment to the Port of Prince Rupert done in May. Also in May, Highbank Resources released its Preliminary Economic Assessment for Swamp Point North, "that values the company at $24 million dollars," says Mr. Shafransky.

Market News

Copper Price Falls to $5,720.50 a Tonne

Copper – Uncertainty surrounding the Greek debt crisis was unable to boost copper prices on Tuesday, and the metal slid 1.2 percent on the LME to hit $5,720.50 a tonne, according to Reuters.

Australia Cuts Iron Ore Price Forecast by 10 Percent

Iron – Reuters reported that Australia's Department of Industry and Science cut its iron ore forecast in 2015 by 10 percent, down to $54.40 per tonne due to a weak outlook for China's steel sector.

Iron Ore Price Could Drop Below $40

Iron – Mineweb reported that iron ore price may drop to the $30 per tonne range in the second half of the year as low-cost suppliers continue to flood the market, according to Capital Economics Ltd.

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