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Gold eases in cautious trade

Gold eases in cautious trade

Gold and precious metals: today’s top 10 news

  • Gold for February delivery settled 0.3% lower at $1,613.60 a troy ounce on the NYME Wednesday as traders weighed the impact of the European Central Bank's liquidity injection
  • Petra Diamonds has sold 4.8 carat blue stone for $1.45 million, or $300,000 a carat – the highest price per carat of any rough diamond it has ever sold
  • Silver Mines says recent test indicates its Webbs silver project in New South Wales may be amenable to cyanide extraction which offers potential for production of silver doré
  • Eloro Resources has completed acquisition of Louvicourt Township Gold Property near Val d’Or in Québec
  • A feasibility study for the Ajax copper-gold project in British Columbia - a joint venture between KGHM and Abacus Mining - estimates capital costs at $795 million
  • IAMGOLD Corp has entered into a pact with the Suriname government to expand the company’s Rosebel Gold Mine, which produced 395,000 ounces of gold in 2010 
  • Hecla Mining expects to resume production at its Lucky Friday silver mine in Idaho by February-end; it estimates 2011 silver production to exceed 9 million ounces
  • New Gold Inc, created in 2008 by combining three gold companies, plans to more than double annual production to at least 1 million ounces in six years
  • Shanta Gold is on track to begin production from New Luika in Tanzania by the end of the first quarter next year as it announced it has secured a $5 million bridging loan
  • Shares in Petra Diamonds began trading on the Main Market of the London Stock Exchange Wednesday following the company’s decision to migrate from the AIM exchange

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