Weekly Round-Up: Gold Shakes Some Safe Haven Appeal; Silver, Copper Unchanged

Weekly Round-Up: Gold Shakes Some Safe Haven Appeal; Silver, Copper Unchanged

Gold moved down during the later half of the week, as a stronger dollar offset some safe haven gains. Meanwhile, silver remained unchanged. On the copper front, concerns about falling Chinese data kept prices at a standstill. Oil was down one dollar on Friday, on oversupply concerns.

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Company News

Highbank Resources Commends Lowered LNG Levy for BC

Highbank Resources Commends Lowered LNG Levy for BC

Highbank Resources Ltd. (TSXV:HBK,FWB:V70) has applauded the government of British Columbia for reducing levys for LNG producers. The company believes that the revised tax structure will help bring more energy investment in BC.

VVC Exploration Closes $411,365 Private Placement

VVC Exploration Closes $411,365 Private Placement

Copper – VVC Exploration (TSXV:VVC) announced it closes a $411,365 private placement after selling 8,227,300 units of the company for $0.05 per unit. The company expects to complete a further private placement before the end of 2014. The funding will go towards funding the start up of a pilot mine on its Samalayuca copper project.

Trimetals Mining Poised to Grow in Nevada?

Gold – In an article for Mineweb, Kip Keen took a look at Trimetals Mining (TSX:TMI.B)at Brien Lundin's New Orleans Investment Conference. Though the company's gold deposits in Nevada currently look "rather inconsequential," the author notes that they have grown steadily, and have potential to keep doing so.

BHP To Build Indonesia’s Largest Coal Mine

Coal – BHP Billiton (NYSE:BHP) and its partner PT Adaro planning to build the largest coal mine in Indonesia, according to the Epoch Times. BHP will own 70 percent of the mine.

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Company Videos

Strata Minerals CEO Jason Bahnsen Talks Phosphate in Utah

Potash – Strata Minerals Inc. (TSXV:SMP) CEO Jason Bahnsen provided this video update on what investors can look forward to after the company recently announced its maiden Resource Estimate for the Diamond Mountain phosphate project in Utah.

Market News

Japan Warns of Volcano Activity near a Nuclear Plant

Uranium – Japan issued a warning on Friday that a volcano located about 64 kilometers away from a nuclear plant in southern Japan was showing signs of increased activity, raising concern that a small explosion could be on its way.

Copper to Gain on Seasonal China Demand

Copper – Reuters reported that LME copper is headed for weekly gains, even though prices dipped slightly on Friday. Copper for three month delivery dipped 0.2 percent to $6,680 a tonne by 0227 GMT. Prices could rise by 0.6 percent this week.

72 Ounce Gold Nugget On Sale in California for $400,000

Gold – Reuters reported that a 72 ounce gold nugget, which is bigger than a human palm and is believed to be the largest privately held nugget of its kind, went on sale in San Francisco on Thursday.

Copper Rises on China Manufacturing Data

Copper – Bloomberg reported that copper prices rose on Thursday following the release of better than expected manufacturing data from China. Copper futures for December delivery rose 0.7 percent to trade at $3.04 a pound by 1:14 PM on New York's Comex.

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