Congo govenor tells of Rautenbach ordeal

MOISE Katumbi, the governor of the mineral-rich Katanga province in the Democratic Republic of Congo (DRC) said he personally took Camec shareholder Billy Rautenbach to the airport after he was declared persona non grata by the DRC government.

A statement from Rautenbach described reports of his arrest, interrogation and the confiscation of his passport as “totally unfounded.” There was no mention in the statement of his deportation.

The DRC government issued a second statement in as many weeks backed up by comments from Katumbi, leaving no doubt Rautenbach, an old mining hand in central Africa, was no longer permitted to enter the country.

“I myself took him to the airport and his passport was stamped to keep him out of the Congo. The order came from the central government in Kinshasa and he signed for it himself,” Katumbi told Miningmx.

Asked why Rautenbach had been thrown out of the DRC and for more details, the normally talkative Katumbi referred all such queries to the central government.

“The central government sent me a request from the minister of the interior to chase him from Katanga. They did not want him in our country. He was deported. He is persona non grata,” Katumbi said.

Rautenbach is the former head of DRC's state-owned mining company Gecamines.

The UK’s Sunday Times newspaper said he had been accused of fraud, theft, corruption and violating commercial law. The accusations are related to charges Rautenbach faces in South Africa.

An armed escort had seen him to the airport and aboard his private aircraft, which flew him home to Zimbabwe, the Sunday Times reported.

Asked if Rautenbach’s deportation would affect Camec’s Luita operation in Katanga province or its $1.9bn bid for TSX-listed Katanga Mining, Katumbi again referred all questions to the central government.

“I’m the governor. I don’t know anything about the operations of the mine. You’ll have to ask the minister of mines,” he said.

Central African Mining and Exploration Company (Camec) has said in a statement it disputes the authenticity of the document expelling Rautenbach, who is thought to own 18% of the London-based company.

“Even if it were authentic, it would not affect any of Camec’s operations in the Congo; Mr Rautenbach is not involved in the operational management of the company’s projects.”

Camec has the Luita project in the DRC. Luita is planned to produce 40,000 tonnes of copper and 6,000 tonnes of cobalt a year by the end of March 2008. Camec has plans to grow this to 100,000 tonnes of copper and 12,000 tonnes of cobalt by the end of next year, making the company the single largest producer of cobalt.

A tie up with Luita and Katanga’s Kamoto operation would account for a fifth of global cobalt supply. It might also be the precursor to a bid for Nikanor, which shares the same ore body Katanga is mining, said Mark Smith, an analyst at Renaissance Capital.

Gecamines, an owner of 25% of Katanga’s Kamoto mine and facilities, has taken legal advice on the potential transaction, said Smith.

Camec has a 22% stake in Katanga and said it has locked up a further 32% of shares, including the 24% held by George Forrest, who has given his support for Camec’s bid, the Sunday Times reported.

Source : www.miningmx.com

Gemini Explorations, Inc. (GXPI) A Growing Gold Mining Company Reports On Upcoming Drill Program

Gemini Explorations Inc, ("Gemini") (OTC BB:GXPI.OB - News) is pleased to report that Minera Primecap Geological Services (MPGS) has confirmed the phase two broad-based channel sampling is well underway and the first batch of deep channel samples have been shipped to the labs of INSPECTORATE AMERICA CORPORATION (Inspectorate), Nevada, USA for assaying. As reported on June 11, 2007, Gemini had completed the topographical survey and mechanical excavation of trenches was to begin allowing for complete and broad-based channel sampling and identification of optimum drill targets for the La Planada Gold project. Gemini will release the assay results as soon as they become available. MPGS Chief Geologist Carlos Alberto Vera has personally directed his geological team as they continue the sampling and preparation of drill targets at the La Planada Gold Camp.

President Michael Hill stated, "We are extremely pleased with the sample results we have seen so far, which have met and in certain instances exceeded our expectations. Our goal is to have the drilling program well underway in 2007 and prove up the La Planada Gold Project to be the multi-million ounce gold deposit that we believe it is." As reported on February 23, 2007, Carlos Alberto Vera of MPGS estimated the La Planada Gold project to contain over 3 million ounces of gold representing a potential 2 billion dollar deposit with gold trading at $650 per ounce.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that although Gemini Explorations, Inc believes the La Planada Gold Project has promising potential, the property is in the early stages of exploration. The project has yet to be shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on the property, or that, if identified, mineralization may be economically extracted. Minera Primecap Geological Services does not accept responsibility for the use of project data or in the adequacy or accuracy of this release.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Promoter blames TD for ‘fuss’ over mining lease

Anantapur, July 23: One of the directors of Obulapuram Mining Company, the firm which was given controversial mining lease in Obulapuram village of D.Hirehal mandal in the district, and one of the promoters of the proposed Brahmani Steel Company in Kadapa district, G. Janardhana Reddy, has criticised the TDP and condemned its attitude alleging that the party was making an issue out of nothing on the mining lease given to his firm.

Talking to newspersons in the Obulapuram Mining Company guest house near the mines late on Sunday evening, returning after cutting short his foreign visit, he took strong exception to TDP president N. Chandrababu Naidu’s reported remarks against him that he was a criminal and was earning illegally.

He stated that people of Andhra Pradesh knew very well who was criminal and who had usurped power with the help of a coup against his own mentor.

He alleged that the TDP was making a fuss over the mining lease given to his company by the AP Government only as part of its political vendetta.
Entry illegal

The OMC had taken the lease of Obulapuram mines legally and nobody could enter the mines area without the company’s permission as once the land is taken on lease it would be out of bounds for general public or even the legislators, without proper permission.

International Coal Group Announces Second Quarter 2007 Earnings Release and Conference Call

International Coal Group, Inc. will release its second-quarter results for 2007 after the market closes on Thursday, July 19, 2007. The Company will hold its quarterly conference call and Internet webcast on Friday, July 20, 2007 at 11:00 a.m. Eastern Time.

The audio can be accessed by going to the Company's Web site at www.intlcoal.com. Listeners should go to the Web site at least fifteen minutes before this event to register, download, and install any necessary audio software. There is no charge for access to this event. For those unable to attend the live broadcast, the call will be archived on the Company's Web site.

ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The Company has 11 active mining complexes, of which ten are located in Northern and Central Appalachia, and one in Central Illinois. ICG's mining operations and reserves are strategically located to serve utility, metallurgical and industrial customers throughout the eastern United States.

Source : money.cnn.com/news

UPDATE 1-S.Africa unions declare dispute in coal wage talks

Two South African trade unions declared a dispute on Thursday against coal producers after wage talks hit deadlock, a union official said.

A dispute, the first legal step towards going on strike, was declared after producer group the Chamber of Mines declined to raise its offer of a 7.25 percent wage hike, Solidarity union spokesman Reint Dykema told Reuters.

South Africa's largest mining union, the National Union of Mineworkers, also joined in the dispute, he added. Unions are demanding a wage hike of 15 percent.

Chamber negotiator Eric Nwedo confirmed a dispute had been declared, saying wages were not the only stumbling block, but there were also differences on housing benefits, pension contributions and upgrading job categories.

"These are costly demands, so if we are to make progess on the wages we need to get some clarity on where they are going with these," Nwedo said. "We are still committed to engaging with the unions.

Following the declaration of a dispute, further talks are required, including with government mediators, before any strike can be approved.

South Africa is the world's fifth-largest producer of coal, which is the primary fuel produced and consumed in the country. Around 20,000 workers are covered in the wage talks.

The Chamber represents seven companies, including BHP Billiton Energy Coal South Africa (BHP.AX: Quote, Profile , Research), the coal unit of Anglo American Plc (AAL.L: Quote, Profile , Research) and Xstrata Coal South Africa (XTA.L: Quote, Profile , Research).

The chamber also represents those activities of Exxaro Resources Ltd (EXXJ.J: Quote, Profile , Research) previously owned by Eyesizwe Coal, which merged to form Exxaro.

Source : investing.reuters.co.uk/news

All Required Regulatory Approvals Obtained for Norilsk Nickel Offer for LionOre

OJSC MMC Norilsk Nickel ("Norilsk Nickel" or the "Company") today announced that with the receipt of Investment Canada approval yesterday in respect of its all-cash offer for all of the issued and outstanding shares of LionOre Mining International Ltd ("LionOre") (Toronto Stock Exchange symbol: "LIM"; London Stock Exchange symbol: "LOR"; Botswana Stock Exchange symbol: "LIONORE") all regulatory approvals required in connection with Norilsk Nickel's offer have now been obtained.

Denis Morozov, the Company's General Director, stated today that "Norilsk Nickel is pleased to have completed successfully the process of receiving all required regulatory approvals within such a short timeframe. We look forward to LionOre shareholders tendering their shares before the expiration of our offer on June 28, after which Norilsk Nickel intends to complete the acquisition of all outstanding shares of LionOre".

On May 23, 2007, Norilsk Nickel announced its increased all-cash offer to acquire all of the issued and outstanding common shares of LionOre for aggregate cash consideration of approximately Cdn$6.8 billion. The offer is open for acceptances until 8:00 p.m. (Toronto time) on Thursday, June 28, 2007. All acceptances must be received prior to this time.

Full particulars of the offer are set out in the offer and offering circular as amended by the notice of variation and notice of extension, each as filed by Norilsk Nickel. These documents are available on the Canadian Securities Administrator's website at www.sedar.com under LionOre's company profile, and on the Company's website at www.nornik.ru/en.

Sterling Finalizes Preparations for Upper Mine Exploration Cross-Cut

Sterling Mining Company (OTCBB: SRLM - News) today reported that Sterling crews are preparing for continued development of an exploration cross-cut, at an elevation of 2,672 feet, east of the historic Polaris Mine workings in the upper mine area of the Sunshine Mine.

The cross-cut's advance was interrupted briefly upon the completion of the Sterling Tunnel Project to allow geologists to map and evaluate newly exposed structures and make a smooth transition from contractor to in-house mining. The cross-cut is designed to probe unexplored projections of the Sunshine vein system east of the known production areas and, at the same time, provide a platform for diamond drilling into the Yankee Girl vein some 1,200 feet south of the Sunshine system. Zones of alteration and mineralization have been identified and are being studied to guide exploration efforts.

"We are working to open up a stretch of ground that had multiple siderite-quartz veins on the Polaris Mine 900 level, some 100 feet above us," stated Jeff Moe, Sunshine Chief Geologist. "This work also puts us within striking distance of the Yankee Girl vein which our drilling probed from the Silver Summit side in 2006 and which is unexplored out in front of us for a strike length of over 3,000 feet."

Advancing the cross-cut is expected to resume in early July and is only one of the several major projects that are unfolding simultaneously at the mine.

Sterling Mining Company's workforce at the Sunshine Mine has grown to 66 full-time employees, and is projected to reach over 100 by the end of this year as production resumes, currently forecasted for no later than December 2007.

Source : biz.yahoo.com/bw

Wega Mining ASA to make investment of up to C$10 million in Tagish Lake Gold Corp

Wega Mining ASA and Tagish Lake Gold Corp. (TSX-V: TLG - News) announced today that they have entered into a subscription agreement pursuant to which Wega Mining has agreed to make an equity investment of up to C$10 million in Tagish Lake Gold Corp.

Under the terms of the subscription agreement, Wega Mining's investment will be structured as follows:

- Wega Mining will make an initial investment (subject to, among other
things, receipt of any required regulatory approvals and customary
closing conditions) of approximately C$2,000,000 consisting of Units at
a price of C$0.20 per Unit; and

- Wega will make a second investment of approximately C$8,000,000
consisting of Units at a price of C$0.20 per Unit.


Each Unit will consist of one Common Share and one Warrant. Each Warrant will entitle the holder to acquire one Common Share on or before the 2nd anniversary of the date of issue at an exercise price of C$0.30 per share subject adjustment in accordance with its terms. The Units will separate into Common Shares and Warrants immediately upon issuance. All securities to be issued will be subject to a hold period of four months from the respective closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.

The closing of the initial investment is expected to occur upon receipt of the requisite approval of the TSX Venture Exchange. The closing of the second investment is expected to occur on or about August 9th , 2007 subject to, among other things, completion of a due diligence review by Wega Mining, receipt of all required regulatory, stock exchange and shareholder approvals and other customary closing conditions.

The proceeds of the equity investment will be used by Tagish Lake Gold Corp. to complete the "Skukum Creek Deposit Exploration & Feasibility Program" during the balance of 2007. Exercise of the warrants will be instrumental in providing the financing to bringithe deposit to production by 2009.

Following the closing of the two transactions, Wega will own 50 000 000 common shares of Tagish Lake Gold Corp. representing approximately 35 % of the issued and outstanding shares or 45 % fully diluted when the warrants are exercised. Effective as of the closing date of the second investment, the board of directors of Tagish Lake Gold Corp. will be comprised of six directors, two of whom will be nominees of Wega Mining. Thereafter, as long as Wega Mining owns at least 17.5% of the outstanding common shares, it will be entitled to nominate a number of directors for election that is proportionate to the percentage of common shares held by Wega Mining.

Robert Rodger, President of Tagish Lake Gold Corp states: "We are pleased that Wega Mining ASA has joined with Tagish to move the Skukum Creek project to production. With financing available, the Company can focus its efforts on the work on the high grade Skukum Creek gold-silver deposit as well as advancing the other gold deposits on the Skukum property."

"Adding Tagish Lake to its Western Canada project portfolio, Wega Mining will leverage its development and project organisation, to bring all three deposits (two deposits held by Merit Mining Corp) to commercial production over the next two years. In total, Merit Mining and Tagish Lake are set to produce at least 200,000 oz per year of gold and gold equivalents from the end of 2009 and 300,000 oz per year from 2011" said Lars Marius Furu, CEO of Wega Mining ASA.

Tagish Lake Gold Corp. is a TSXV listed company (TLG) which explores for and develops high grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is currently focused on its wholly owned, 178 km2 Skukum Mineral District located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver deposit and the Goddell Gully gold deposit, and the Mt. Skukum gold deposit.

Wega Mining ASA is an Oslo-based international mining company focused on exploring, developing and operating gold, copper and zinc deposits. The company currently holds exploration licenses in Guinea, Canada, Portugal, Ecuador, Romania and Norway, and a gold-copper development project in Canada. It trades on Oslo Axess, an exchange regulated by the Oslo Stock Exchange, under the ticker WEMI. Further information can be accessed at www.wegamining.com.

Bear Creek drilling and new sampling expands silver mineralization on its 100% owned Santa Ana project, Peru

Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results from thirteen additional diamond drill holes (Phase 3 drilling) and results from soil/rock chip grid sampling on the extreme north and south ends of the area drilled to date at its 100% owned Santa Ana silver project. Santa Ana is located 200 kilometers south of the Company's Corani silver-base metal deposit in southeastern Peru. Drilling at Santa Ana now totals 7,501 meters in fifty-five drill holes. Highlights of this press release include:

- Drill hole SA-26A intersected mineralized volcanics with 128
meters @ 48 g/t Ag, including 14 meters @ 84 g/t Ag and 30
meters @ 91 g/t Ag.

- Higher grade intervals intersected in SA-25 and SA-26; 4 meters
@ 119 g/t Ag and 10 meters @ 95 g/t Ag, respectively.

- Mineralization extended 350 m to the north and 400 m to the south
through soil and rock-chip grid sampling, increasing the target
size by 50%.

- Mineralization remains open with strong vectors for extension in
three directions plus at depth.

Andrew Swarthout, President and CEO of Bear Creek, states "The continuing positive results from Phase III underscore the potential for intersecting blind, higher-grade silver mineralization within the extensive volumes of lower grade silver halo at Santa Ana. The latest drilling and grid sampling significantly expands the footprint of mineralization and defines additional untested high grade zones that will likely contribute significant value to the discovery. Importantly, oxide mineralization continues to dominate; a factor that bodes well for the excellent leaching characteristics indicated by early metallurgical testing. We are expanding the Phase III drill program, as well as continuing our aggressive metallurgical test program. Mineralization remains open in all directions. A second drill has been requested in order to advance drilling towards the project's first resource estimation by year-end."

Mr. Swarthout continues "The drill is currently working to the north within the newly discovered soil/rock-chip grid anomaly approximately 150 meters north of the farthest north hole (SA-22) and a second platform an additional 150 meters north is next in line. Assay results from these holes will be reported as they become available in the coming weeks. Additional soils and rock geochemical sampling within the district is expected to further extend the target areas."

For detailed news : biz.yahoo.com/prnews

Explorator Resources Receives Exchange Approval on Venus-Marcelo Claim Block Acquisition, Files NI43-101 Report

Explorator Resources Inc. (CDNX:EXO.V - News) is pleased to announce that it has received TSX Venture Exchange approval for the recently announced acquisition of the Venus-Marcelo mineral claim block (see Press Release dated May 15, 2007). The company has also received the NI43-101 Report on the property, which has been filed on SEDAR (www.sedar.com).

With the acquisition of the Venus-Marcelo concessions, Explorator now controls a single, contiguous block covering an area totaling over 1100 hectares, or 11 square kilometers, when combined with El Espino. (see Figure 1) The concessions are located near Illapel, Chile, a mining area with excellent infrastructure and extensive existing and historical small-scale gold and copper production. Venus-Marcelo hosts six small operating copper-gold mines. High grade ore mined from Venus-Marcelo is currently direct-shipped to the nearby Ventanas Smelter for processing.

"We are very pleased to complete the acquisition of the Venus-Marcelo block" noted David O'Connor, President and CEO of Explorator Resources. "Combining Venus-Marcelo with our El Espino concession creates a much larger and more exciting opportunity to explore and develop a project of scale that has extensive historical exploration data and a long history of copper and gold production."

O'Connor added that "the NI43-101 technical report is very encouraging as the sampling shows that the mineralized structures on which the small operating mines are developed contain higher grade copper and gold mineralization than we anticipated and are over substantial thicknesses, confirming our opinion of the excellent potential to outline a significant gold, copper or copper-gold deposit on the Venus-Marcelo Project. Additionally, these steeply dipping structures are interpreted as being mineralized feeders, which expand the potential of the El Espino zone controlled by Explorator for a distance of two kilometers further north on this undrilled area, adding considerably to the overall potential tonnage of copper-gold mineralization and expanding the project considerably in excess of the estimates based on drilling made for the El Espino block."

The style of mineralization at Venus-Marcelo and El Espino is characteristic of deposits found elsewhere within the Coastal Cordillera of Chile, such as Phelps Dodge's Candelaria and Anglo American's Mantos Blancos. The Venus-Marcelo block is a direct northward continuation of the El Espino mineralized system. Explorator acquired the El Espino project on January 29, 2007. Following the recent completion of a successful 10-hole, 2000m diamond drill Phase One program (see Press Releases April 30 and May 23, 2007) the company has commenced a 25,000 m Phase Two drilling program at El Espino (see Press Release June 6, 2007). The company intends to move quickly to carry out a Phase One exploration program on the Venus-Marcelo block.

The NI43-101 report on Venus-Marcelo was prepared by Mr. Douglas Currie, MAusIMM, of Gwynva Resource Management, a Qualified Person, (as defined under NI43-101). Mr. Currie has reviewed the contents of this press release and has given his consent for inclusion of extracts from his report herein.

Copper and gold mineralization in the Venus-Marcelo / El Espino district extends for almost 5 km long N/S by 1 to 2 km wide E/W in a NNW trending zone that extends across the two property boundaries. Within the Venus-Marcelo Project area, mineralization is primarily associated with narrow, high grade, quartz veins and silicified fractures related to NE trending faults and shear systems. The steeply dipping mineralized veins, locally stockworked, are interpreted to be the feeders to the stratabound mineralization. The style of mineralization is characteristic of Iron Oxide Copper Gold (IOCG) deposits found elsewhere within the Coastal Cordillera of Chile.

Although there are no production records available, the numerous small and several extensive underground workings are indicative of substantial historical copper and gold production generally from oxidized, near-surface mineralization. Production grades are estimated at 2-6% Cu and 3-6 g/t Au. Production samples taken by Mr. Currie in April 2007 from the six active tribute mines on the Venus-Marcelo concessi centsns ranged from 1.24% Cu to 3.82% Cu and are considered representative of the potential copper oxide grades which have historically prevailed on the property.

Samples collected by Mr. Currie of historical dumps and current mine stockpiles and across the visually mineralized structures returned assay results as were expected with a good correlation between visual copper estimates and actual assay grades. The copper grade of the mine dumps sampled ranges from 1.63% to 29.1% Cu; this reflects the relative grade of the veins and possibly also the degree of high-grading being practiced by the local cooperativista miners. Gold grades received ranged from background levels to 41.3g/t Au, with 25% of the samples having gold values greater than 1.0g/t Au.

Only minimal modern exploration has been performed on the Venus-Marcelo Project area and there has been no drilling. ENAMI (La Empresa Nacional de Mineria), the Chilean National Mining Company, in 1994 estimated "reserves" of 1,032,500 tonnes at an estimated grade of 2.0% Cu and 3.5 g/t Au. ENAMI also reported an additional "resource estimate" of 1.5 million tonnes at an estimated grade of 0.6% Cu at the Milagros SW zone, at the southern end of the property, with the potential for rich lenses ( greater than 2% Cu) within the zone. The calculations are based on underground mapping and channel sampling and past production data available to them at the time. ENAMI only included potential mineralized zones which were accessible from existing development and did not project mineralized zones to depth. Explorator has not done sufficient work to classify these historical estimates as current mineral resources and as such, Explorator is not treating the historical estimates as current mineral resources and cautions investors not to rely upon these historical estimates.

Source : http://www.ccnmatthews.com/docs/exploratormap.pdf

Sandvine's PTS 14000 80-Gigabit Cluster Achieves 4 Diamond Ranking From Broadband Gear Report's 2007 Diamond Technology Reviews

Cable-Tec Expo - Sandvine, (Toronto:SVC.TO - News)(AIM: SAND) a leading provider of intelligent broadband network solutions for DSL, FTTH, cable, and wireless carriers, today announced that Sandvine's PTS 14000 80-Gigabit virtual switch cluster has received a 4- Diamond rating from the Broadband Gear Report review panel for this year's 2007 Diamond Technology Reviews.

Sandvine's PTS 14000 platform is a hardware and software solution that gives broadband service providers broad visibility into network traffic along with a rich portfolio of DPI-based policy solutions to ensure a quality online experience for all subscribers. The PTS 14000 has achieved an unprecedented performance benchmark of 80 Gbps of traffic. With over 80 customers, Sandvine's DPI-based policy solutions are widely deployed in broadband networks around the world.

"Our panel of judges was impressed by Sandvine's PTS 14000 scaling to 80 Gbps and by its ability to support redundancy and bypass capabilities to ease the operation of the device in the network," said Laura Hamilton, editor-in-chief at BGR. "They also gave the PTS 14000 high marks for its support of PacketCable Multimedia and the ability to characterize and control VPN tunneling."

The panel of judges included:

- Wayne Hall, VP of Engineering, Comcast

- Vicki Marts, Director of Video Engineering, Cox

- Dermot O'Carroll, Senior VP, Network Engineering and Operations, Rogers

- Gene White, VP of Engineering, Bright House

"Sandvine is honoured to have our PTS 14000 ranked by this distinctive panel of leaders in the cable industry," said Tom Donnelly, executive vice president, marketing and sales, Sandvine. "We strive to set the benchmark by building innovative and robust products, rich in features and functionality that help broadband service providers achieve their business and operational goals."

Come see how Sandvine's DPI-based policy solutions are helping broadband providers improve the Internet experience for millions of broadband users around the world. And join Sandvine for a celebratory reception in booth 2150 at Cable-Tec Expo on Thursday, June 21st at 4:00pm.

Source : www.sandvine.com

Add Some Shine to Your Portfolio With Gold Stocks

Gold bullion is like children – unpredictable. You never know with what inconsistent action the yellow metal is going to catch you next, making it notoriously difficult to predict the short-term price movements. Many traders have, to their detriment, seen their pockets being emptied as a result of unwelcome margin calls over the years.

In my experience the best that most of us can hope to do is to attempt to assess the primary direction of the gold price, and ride the big waves. It was precisely this “big picture” framework that I tried to get a grip on in last week’s article on bullion.

My conclusion was that “bullion was experiencing a normal bull market reprise, and was set to resume its upward path in due course albeit in fits and starts. The exact tailwind pushing gold northwards would probably only become apparent after the fact.”

One such tailwind could be the oil price, which I believe is experiencing a multi-year bull market. I base this outlook on the simple premise of rising demand meeting inelastic supply. In other words, it could become increasingly difficult for the continuously growing demand from the new economic power houses to be met by the rather problematic supply situation, characterized by geopolitical risks in unison with reduced reserves.

It is particularly interesting to see how the oil price typically behaves from July to October – traditionally a period characterized by rising prices as more cars hit the road for the summer months.

Source : biz.yahoo.com

Gold reclaims $660, highest level in more than a week

Gold futures rose Monday morning, building off last week's more than $8 gain as the U.S. dollar weakened and as traders continued to gauge inflation concerns and the likelihood of an interest rate hike by the Federal Reserve.

Gold for August delivery climbed as high as $662.50 an ounce on the New York Mercantile Exchange, its strongest intraday level since June 7. It's eased back a bit since then, but was still up 60 cents at $659.30 an ounce.

The benchmark contract rose $2.80 an ounce on Friday to score a total gain of $8.40 for last week.

"The precious complex staged a modest rebound Friday as tame CPI data curbed expectation for the Fed to hike interest rates, leading the dollar to give back some of its recent gains," James Moore, an analyst at TheBullionDesk.com, said in a note to clients. See Economic Report.

And "gold's current fortunes improved overnight as buying precipitated by a declining dollar ... against the euro and especially the yen gave short-term oriented traders another opportunity to attempt resistance tests near $660 per ounce," said Jon Nadler, analyst at Kitco Bullion Dealers, in a morning note.

The yen fell to a new all-time low against the euro and traded near a four-and-a-half year low against the dollar Monday, after a strong rally in Asian equity markets prompted investors to build the so-called carry trades.

Source : www.marketwatch.com

Canada Energy Stocks May Fall; Metals Shares May Gain With Gold

Canadian energy stocks including EnCana Corp. may decline along with crude oil prices, which retreated today from a nine-month high.

Declines in the broader market may be limited as raw-materials producers including Goldcorp Inc. advance on higher bullion and copper prices.

The Standard & Poor's/TSX Composite Index added 135.42, or 1 percent, to 14,137.41 on June 15 in Toronto. The benchmark had a weekly gain of 2.5 percent, the best since a 3.2 percent rise in the week ended March 23. It's less than 0.1 percent below its record close of 14,146.74 reached June 4.

Crude oil fell from a nine-month high in New York on expectations that violence in Nigeria will subside, allowing the country to restore some lost production. Oil for July delivery dropped 40 cents, or 0.6 percent, to $67.60 a barrel in 8:39 a.m. electronic trading on the New York Mercantile Exchange.

EnCana may drop 91 cents to C$69.30, based on bids already submitted on the Toronto Stock Exchange. EnCana, Canada's biggest natural-gas producer and the country's biggest energy company by market value, climbed to a record on June 15.

Petro-Canada, the nation's third-biggest oil and gas producer, may decline 12 cents to C$56.04, bids indicated

Gold rose for a fourth day in London on speculation declines in the dollar will spur demand for the metal as a hedge against inflation.

Copper advanced for a fourth consecutive session in London as stockpiles fell and the prospect of strikes at Latin American mines led to speculation that supplies will be disrupted. Lead rose to a record.

Bullion Miner

Goldcorp, Canada's second-largest bullion miner, may gain 24 cents to C$26.70, bids incicated.

Agrium Inc. may climb 25 cents to C$45.45. North America's largest producer of nitrogen fertilizer said second-quarter profit may exceed $1.55 a share. The profit projection had been $1.45 to $1.55 a share, Calgary-based Agrium said in a statement distributed by CCNMatthews. Earnings are expected to be ``at or slightly above'' the upper end of the range, the company said.

Takeover speculation may also support some stocks. ACE Aviation Holdings Inc. may rise 18 cents to C$26.25, bids indicated. Kohlberg Kravis Roberts & Co. may be the leading bidder for a majority stake in Air Canada's aircraft maintenance unit, which is being sold by ACE Aviation Holdings, the airline's holding company, the Globe and Mail reported. KKR would top a bid by a unit of Germany's Deutsche Lufthansa AG, the newspaper said. A buyer may be named as soon as today, the Globe and Mail said. The operations may be worth as much as C$1 billion ($940 million), the newspaper said.

Other bidders included Toronto-based Onex Corp. (OCX CN), the Globe and Mail said. Unidentified representatives of KKR and ACE declined to comment, the newspaper said.

U.S. Stock-Index Futures

U.S. stock-index futures rose on takeover speculation. Low borrowing costs helped fuel more than $1.2 trillion in acquisitions involving U.S. companies this year.

S&P 500 futures expiring in September added 4.20 to 1551.90 at 8:52 a.m. in New York. Dow Jones Industrial Average futures increased 40 to 13,792. Nasdaq-100 Index futures advanced 3 to 1972.75.

The following shares may have unusual price changes. Prices are from the close on June 15.

Alcan Inc. (AL CN): Shares of Alcoa Inc. (AA US), which has made a $27.7 billion hostile takeover offer for Alcan, rose in Frankfurt after the London-based Times said BHP Billiton Ltd. may consider a $40 billion takeover of the U.S. aluminum maker.

BHP is in the early stages of considering an offer and hasn't made an approach to Alcoa, the newspaper reported without saying where it got the information. BHP doesn't comment on rumor or speculation, Melbourne-based company spokeswoman Samantha Evans said. Alcan shares added 53 cents, or 0.6 percent, to C$88.69.

Legacy Hotels REIT (LGY-U CN): The owner of 25 hotels in the U.S. and Canada may have received final bids from two bidders, Gazit-Globe Ltd., an Israeli property fund, and the Canadian pension fund Westmont Hospitality Group, the Financial Times reported June 15, citing two persons claiming knowledge of the situation. The Israeli fund may be Gazit-Globe, according to an industry banker not involved in the transaction, the FT said.

Separately, Legacy Hotels was cut to ``hold'' from ``buy'' by Sam Damiani at TD Newcrest. The analyst expects the shares to fall to C$14 within 12 months. The shares gained 53 cents, or 3.8 percent, to C$14.58.

Source : www.bloomberg.com

Corn prices climb as traders worry about dry Corn Belt

Corn prices climbed Thursday as traders fretted over dry weather in the eastern Corn Belt.

In other commodities, crude oil and agriculture prices rallied, while the gold market suffered at the hands of a rising U.S. dollar.

Corn fields in southern Indiana and southwestern Ohio have hungered for rain for weeks, and the lack of moisture remains a focal point in the corn market, said DTN analyst Gary Wilhelmi. National Weather Service data indicated scattered thunderstorms could sate parts of the region in the coming days, and traders will be watching for reports of rain.

July corn jumped 10 cents to settle at $3.846 a bushel on the Chicago Board of Trade. Wheat for July delivery rose 4.6 cents to end at $5.244 a bushel, while soybean futures added 9.6 cents to settle at $8.32 a bushel.

Meanwhile in New York, energy prices climbed as traders took recent refinery data and economic projections as bullish signs, according to Wachovia Corp. energy economist Jason Schenker.

The Energy Information Administration on Wednesday reported a surprise drop in refinery usage for the week ended June 1. Although gasoline stockpiles increased at the same time — boosted partly by imports and partly by weaker demand — traders viewed the refining rollback as a worrisome element heading into the peak driving months of July and August.

Federal Reserve Chairman Ben Bernanke’s projections Wednesday that economic growth would pick up pace later this year also continued to ripple through the market. Oil demand tends to rise with economic expansion.

Light, sweet crude for July delivery gained 97 cents to settle at $66.93 a barrel on the New York Mercantile Exchange, after earlier trading as high as $67.42 a barrel. Crude last closed above $67 a barrel on Sept. 7, 2006, according to data from the Oil Price Information Service.

Gasoline futures rose 0.23 cent to end at $2.1927 a gallon.

Source : www.agweekly.com

Canadian Stocks Rise With Gold, Copper Prices; Agrium Climbs

Canadian stocks rose, pushing the main equity index to a record, as such raw-materials producers as Goldcorp Inc. gained on higher metals prices. Agrium Inc. led agricultural companies higher after it raised its profit forecast.

The Standard & Poor's/TSX Composite Index added 46.03, or 0.3 percent, to 14,183.44 as of 9:40 a.m. in Toronto. The benchmark built on last week's gain of 2.5 percent, the best since March. A close at this level would exceed its record close of 14,146.74 reached June 4.

Gold rose for a fourth day in London on speculation declines in the dollar will spur demand for the metal as a hedge against inflation.

Copper advanced for a fourth consecutive session in London as stockpiles fell and the prospect of strikes at Latin American mines led to speculation that supply will be disrupted. Lead rose to a record.

Goldcorp, Canada's second-largest bullion miner, gained 21 cents to C$26.67. Larger rival Barrick Gold Corp. rose 16 cents to C$31.29.

Agrium climbed C$1.24 to C$46.40. North America's largest producer of nitrogen fertilizer said second-quarter profit may exceed $1.55 a share. The profit projection had been $1.45 to $1.55 a share, Calgary-based Agrium said in a statement distributed by CCNMatthews. Earnings are expected to be ``at or slightly above'' the upper end of the range, the company said.

Potash Corp. of Saskatchewan Inc., the biggest fertilizer company, rose C$1.96 to C$84.93.

Source : www.bloomberg.com

Rising oil, gas futures may lift pump prices

Crude oil futures settled at $68 a barrel Friday, their highest close since September, while gasoline futures extended their rally, raising the prospect that prices at the pump may rise after falling for several weeks. Analysts say oil prices were boosted by unrest in the Middle East and a lower-than-expected core inflation figure, which encouraged investors to move money to commodities.

Crude oil prices hold steady

In energy trading on the Nymex, crude oil futures finished little changed near $63 a barrel as a government report showing U.S. oil refineries are accelerating gasoline production before the summer driving season offset a bigger-than-expected fall in gasoline inventories.

The front-month May light, sweet crude contract settled 3 cents higher at $63.13 a barrel.

Front-month May gasoline rose 2.75 cents, or 1.3 percent, to finish at $2.0833 a gallon, while May heating oil rose 0.88 cents, or 0.5 percent, to finish at $1.8066 a gallon.

Natural gas for May delivery settled 7.9 cents higher at $7.497 a million British thermal units.

On the Chicago Board of Trade, soybean futures sagged amid heavy fund selling, technical pressure and the unwinding of inter-commodity spreads, traders and analysts said.

May soybeans closed 8.5 cents lower at $7.1550 per bushel, July soybeans finished 9 cents lower at $7.3225 a bushel, and November soybeans closed 11 cents weaker at $7.5950 a bushel. May soy meal ended 90 cents weaker at $196.90 per short ton, and May soy oil closed 0.80 cents lower at 31.07 cents per pound.

Wheat futures settled mixed as late profit-taking dragged prices down from earlier gains, traders said.

CBOT May wheat closed 3 cents lower at $4.7450 per bushel, Kansas City Board of Trade May wheat ended a half-cent higher at $4.9250 a bushel, and Minneapolis Grain Exchange May wheat slipped 2.75 cents to $5.1150 a bushel.

Corn futures settled higher at the CBOT in most months, with the nearby contracts stronger as participants bought the nearby months and sold the deferred contracts, trimming their bear market spread positions, analysts said.

May corn gained 10.25 cents to close at $3.6350 per bushel, July corn rose 10 cents to $3.7525 a bushel, and December corn settled 2 cents higher to $3.8150 a bushel.

Source : www.agweekly.com

NHRA Lucas Oil Drag Racing Series Friday from Atco Raceway

Racing kicked off today at the Franklin
Trailers, Inc. NHRA Lucas Oil Drag Racing Series Event at Atco Raceway.
Top Alcohol Funny Car driver Frank Manzo and Top Alcohol Dragster pilot
Aaron Olivarez got out to a quick start both qualifying in the No. 1
position.

           Morganville, New Jersey resident and 10-time Lucas Oil
National Champion Frank Manzo showed his experience clinching the top
qualifying position over Mickey Ferro of Stamford, Conn.  Manzo finished
the day running a pass of 5.660 seconds at 257.87 mph, while Ferro ran a
time of 5.666 seconds at 250.13 mph.

Olivarez of Sandy, Utah, was able to edge out local racer Karen Stalba
of Hammonton, N.J. with a time of 5.432 seconds at 267.64 mph clinching
the top qualifying spot.  Stalba will start Saturday's eliminations in
the No. 2 position after her run of 5.518 seconds at 247.66 mph.

           Comp Eliminator racer Allyn Armstrong of Kingston, N.S.,
qualified first over Vinny Barone of Dix Hills, N.Y.  Armstrong driving
a '72 Opel outran Barone with a pass of 8.891 seconds.

           Williamstown, N.J. resident Brian Oakes qualified in the top
position in Super Stock with a pass of 8.994 seconds.  Oakes edged out
John Armstrong of Kingston, N.S., who drove a '69 Corvette and could not
keep up with Oakes.  Also at the top of the field was another New Jersey
driver Richard Adkins of Willingboro in Stock Eliminator.  Adkins
piloting a '67 Mustang held on to the top spot with a pass of 10.207
seconds and qualified just ahead of Tex Miller of Fayetteville, Pa.

           Gates open on Saturday at 7 a.m.  Top Alcohol Dragster and
Funny Car Eliminations begin at 2 p.m., while qualifying in all other
categories continues throughout the day. Tickets are $20 for adults and
children age 5 and under are Free.  For more information please call the
track at 856-768-2167 or visit www.atcorace.com

Oil Jobs Boost

Tyneside has received a major jobs boost with the news that more than 1,300 oil and gas industry roles are up for grabs.

A massive recruitment fair is being held at St James' Park in Newcastle on Wednesday to fill huge numbers of vacancies in the oil and gas industry.

Seventeen major companies have identified the North East as the place to fill their recruitment needs, highlighting our industrial heritage and massive skills base. Jobs on offer range from business development specialists to human resources people, from chemical, electrical and civil engineers to piping designers.

There are also vacancies for people with trades including fitters, welders, machinists and platers.